There’s an entrepreneurial super hero story I heard several years ago about a certain well-known billionaire of today who had an early encounter in the 1960’s with billionaire industrialist and oil magnet J Paul Getty. This unnamed future billionaire had happen to meet Mr. Getty long before he himself became an up and coming millionaire in the 1970’s and then billionaire in the 80’s up to today. At that time, he was in his twenties, a business school undergrad, and eager to make his mark in the business world.
$8.7 Billion
One day while shopping for a pair of shoes in a high-end New York Department store this college kid heard the bell for the elevator and glanced over. (Back then, in most all New York Stores, all of the departments were separated by floors and had human attendants who operated the elevators). So, the elevator opens and out strolls J. Paul Getty. Well, the kid was beside himself. This was his hero. In fact, the ultimate Entrepreneurial Super Hero. Forbes Magazine estimated Jean Paul Getty was worth about $1.2 billion ($8.6 Billion by today’s dollars) with controlling interest in over 200 different businesses.
By the time the kid pulled himself together and prepared to meet the richest man on the planet, the brash billionaire walks back onto the elevator. The kid hustles over and jumps in as well. “Down please.” Says Mr. Getty, directing the elevator attendant. The kid introduces himself and immediately began asking a barrage of neophyte business school questions. J. Paul remained stoned-faced and silent. The kid realizing, that he was getting know where, blurted out one last question. “Sir, what’s the best advice for business…” Nothing but dead silence.
Finally the elevator door opens. Mr. Getty stepped off the elevator platform, turns quickly and gives the kid the stiff arm motioning for the young man to stop. He raises his voice slightly and says, “Young man, listen! Observe closely what everyone is doing…” He hesitated a bit. And as the elevator door began to close, he said “…do the opposite.” The doors closed.
And with that advice, supposedly, the young man went on to be one of the wealthiest men living today. Now, I don’t know if or how true this story is, because I haven’t had the opportunity to verify it. Hence, this modern-day billionaire shall remain nameless for now. But what’s most striking to me about this story is that it closely reminds me of another story.
$25 Billion
So, this college kid, a store clerk, was outside of a small-chain grocery store sweeping off the sidewalk. It was early morning with a brisk cool breeze in the high country. The Ozark hills of a small college town. Seemingly from out of nowhere a dusty, old red and white pickup truck rumbles and rolls onto the empty parking lot. It comes to a stop and an old, wirily and plainly-dressed man jumps out and nods hello at the kid sweeping the sidewalk and walks into the store. 15 minutes later, the mild-mannered old man walks back out empty-handed.
“Sir, couldn’t find what you needed?” Said the young man, thinking this was a local farmer looking for supplies. “Oh no, I’m fine, thank ya”. Said the old man. “…Say, aren’t you’re a student at the university?” “Yes sir” the kid replies, “I’m in the Pre-Architecture Program, but I’m thinking of changing my major to Business…” The old man grinned and a conversation ensued for several minutes. Soon the store manager walks out side and gives the young clerk a manager’s glare. The young man takes heed and says, “Well, I’ve got to get back to work. But, what’s the best advice for a getting a new business off the ground?” As the store manager began his approach, the old man got back into the old truck and revved up the engine. He poked his head out the window and said “Son, Study the Masses… And when they Zig, you Zag” And off he went rumbling down the road.
The manager walked up and asked, “Who was that guy?” The young man turned to the manager, “He said his name was Sam… Sam Walton.”
For those younger readers who don’t know… Sam Walton was the legendary founder of Walmart. And at the time of this story, in the mid-to-late 1980’s, he was literally the richest man on the planet. Forbes Magazine ranked Mr. Walton the richest person from 1982 to 1988 with an estimated his net worth to be very near $25 billion.
Now as opposed to the first story, this particular story I know well and is verified-true because, you see, I was that young college kid sweeping the side walk outside of a Fayetteville, Arkansas grocery store that early, fateful morning.
Billionaire Super Hero Secrets
Millions of entrepreneurs would love to have the opportunity to meet and receive the advice of men like these because they believe that they hold the secrets to billionaire-level success. However, it is rare to find advice that applies to every person and every situation. The so-called “secrets” to billionaire-level success are many and none. Meaning that there are many tactics and strategies that can lead up to billionaire success, but none of them are really secret, and every situation is unique. J. Paul Getty and Sam Walton had very different paths to success, but did share commonalities that a number of Breakthrough Entrepreneurial Super Heroes share. Based on my analyses of over 250 successful entrepreneurs, they both lived and breathed all 6 Core Superpower Attributes that I’ve uncovered in the Breakthrough Entrepreneur Study:
1. They both Possessed A Unique Superpower Archetype Combination
2. They both had & Communicated Great Vision
3. They both acquired the Skills of calculating and balancing Opportunity & Risk
4. They both built a mountain of Viable Resources
5. They both Invested in and Executed on Good Business Processes & Systems
6. They both executed Good Strategy as opposed to Bad Strategy
Let’s just talk about #1. The first of these 6 core superpower attributes is something that I call, the “Z Factor”. Every Breakthrough Entrepreneur has it in his or her super hero toolbox.
The “Z Factor”
The Z factor involves knowing how and when to use your superpowers to “zag” when others are in zig mode. As a Breakthrough Entrepreneur, the Z Factor can translate into the authenticity of you and your offering. It should not be confused with the “X Factor” which is more of a natural gift that you’re born with that makes you authentic. However, the Z Factor is a combination of “elements within your control” that can strategically differentiate you from the masses and/or competition. It’s akin to the unique selling proposition of a product or service, but again, the Z factor is your USP of a superpower archetype combination–a complex mix of capabilities, characteristics, traits, values and value.
Almost every successful corporate leader, government leader or entrepreneurial super hero has a Z Factor.
Let’s take, for instance, Sam Walton. He was widely known to be down-to-earth and lived modestly. His Z Factor would include the dominate Superpower Archetypes of Modesty, Gifter, Mastermind, and Super-Productivity among a long list of other superpowers he would use at will to enter new markets, dominate a competitor, or do-good for a community.
On the other hand, J. Paul Getty was widely known as a being flamboyant playboy, who later became a real miser. His Z Factor probably included the dominate Superpower Archetypes of Elemental Control, Narcissism, and Financier and a long list of others that helped him build and control a 200-business empire and become one of the richest men in his day.
What both of these Entrepreneurial Super Heroes offered as advice was to simply develop your own Z factor. A simple, yet very effective strategy if used correctly.
Advice Worth more than Money
This type of advice is really worth more than money because you can apply it over and over across many different situations and scenarios. My brief conversation with THE wealthiest businessman on the planet, Sam Walton, help changed the course of my life. I experienced a major paradigm shift that day.
That day, Mr. Walton left an indelible impression with me that has almost always influenced my business endeavors. His advice and influence has stayed with me for over 25 years as a business owner, a business development professional, an executive analyst, and as an adviser and mentor myself.
Some time ago, I met a bright young ASU student who had applied for one my early internships, but for some reason dropped out and disappeared. Well, he contacted me again several months ago through a mentorship program. He was now involved with a tech startup company in the competitive healthcare industry. Among other questions, he asked me: “how do we get this business to the next level?”
That question triggered an immediate grin on my face as it brought back an instant memory. I said, “Listen, I’m going to give you advice worth more than money. If you plan to get anywhere in your business, first study the masses, observe what they are doing with great detail and when they zig, you “zag”!
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