The Mindset Mentor What a Billionaire Taught Me
May 23, 2022
Discover how billionaires cultivate unique mindsets that drive their success. Learn about the importance of continual learning and how a fast food pioneer optimized processes by drawing insights from varied industries. Hear the fascinating story of how pricing strategies from bananas inspired Priceline.com. Embrace the five-hour rule for lifelong learning to foster adaptability and growth. Finally, transform your social media habits into a powerful learning tool and unleash your hidden interests!
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Fast Food Innovation
- A fast-food pioneer optimized every aspect of his business for speed, from burger preparation to cashier processes.
- By observing a bank's drive-up service, he innovated the drive-through, revolutionizing fast food and later selling his business to McDonald's.
Info Sponging and Priceline
- Billionaire Jeff Hoffman practices "info sponging," learning something new daily and recording it on a three-by-five card.
- He used this technique, inspired by how bananas are priced cheaper as they near expiration, to create Priceline.com's bidding system for airline seats.
The Five-Hour Rule
- Follow the "five-hour rule" by dedicating one hour per day, five days a week, to learning something new outside your usual domain.
- This continuous learning, practiced by figures like Ben Franklin and Oprah, helps you adapt to a rapidly changing world.
