3 Things I Learned from the Billionaire Michał Sołowow - The Billion Dollar Secret

Michał Sołowow is the 2nd wealthiest person in Poland, chosen the best Polish entrepreneur of the last 25 years. In this video I share what I learned from him during the interview, that he has given me. There is a contest at the end of the video.

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VIDEO TRANSCRIPTION

Hi! Today from London, from Belgrave Square.
Here in Belgrave Square we have several billionaires' houses and this is probably this spot in the world with the highest billionaire density.
There are 20-30 multi-million houses on this square. Some of them belong to billionaires, some of them belong to embassies of different countries.
But generally on this square alone there is more than 1 billion dollar in property.
Speaking of real estate, of property development, speaking of billioinaires I have always to think about Michał Sołowow.
Michal Solowow was the first billionaire I have interviewed. He is the 2nd most wealthy person in Poland.
He is also the only guy who intruduced five public companies into the Polish Stock Market.
He manages right now 4 international public companies simultaneously and several smaller companies.
And was chosen several years ago the best entrepreneur in the post-communistic Poland.
And today I want to share with you what insights I have learned from him.
I have interviewed Michal some time ago for my book project "The Billion Dollar Secret".
And today I want to share with you some of the things I have learned from him.
Stay with me till the end of this video. There will be a contest and something to win.
[Music]
The first thing I want to tell you is about raising opportunity.
There was a period in the 90's in Poland shortly after the communism crashed and new system got established.
New government, a capitalistic system and this was time full of opportunities.
There was hardly any professionality in the market. The market was accepting almost every business model.
Because everything was lacking in the polish economy. So, practically everything you did you could become successful with that.
Or you could sell. You could sell practically everything.
Many of the state companies failed and there was a lot of services and products failing on the market.
Suddenly from one day to another. A free market appeared. So, many of the non-competitive state companies failed, got bankrupt.
So, there were many services and products lacking on the market giving opportunity for ambitious, creative, young people to provide these services.
To provide these products, to manufacture these products.
And Michal Solowow was one of these people and he said it was substantial to raise this opportunity.
And it didn't matter what you did. It mattered that you were active. That you did something. That you made things happen.
And then you were able to make money. And Poland had at that time very adventageous legal and tax system.
Especially in the development. It came to real estate development boom because taxes were so favorable for that industry.
And if you did something, if you developed something you were able to profit greatly from that.
Of course, there were many shortages in materials at that time but you needed to be creative, to steer your way around it.
But as you know, it's not only opportunity, it's not only about being at the right time in the right place.
Because all the people in Poland or even in Eastern Europe...
But in Poland only 3 people became billionaires. So, not everybody profited from that.
And you know that success appears when opportunity meets preparation.
And Michal Solowow was prepared for that opportunity. He was eager, he didn't accept the reality he was in.
He was eager to go into business and he also was financially prepared. Before the system changed in Poland,
He went to Western Germany to work for a car repairer in order to save money and to be able to invest that money in his business.
So, he saved up around $10,000 at that time which was in the beginning of the 90's a substantial amount of money in Poland.
He was able to invest that money in his first business.
And believe it or not, he was able to start his construction and development business with only $10,000.
So, raise the oppurtunity but opportunity favors the prepared people.
So, be prepared, be educated, be financially prepared. Have the knowledge and the know-how to raise the opportunity in certain industry.
When the opportunity appeares.
That's why I'm telling you about cryptocurrencies, about the technical background, about the philosophical background, about how they work.
And I encourage you to learn about them. It's not about investing, it's about learning how it works and how to invest, how to trade.
How to cope with these cryptocurrencies in order to be able to raise the opportunity as soon as the opportunity arrives.
And you decide what is the best moment to raise this opportunity.
Instead of panicking, start to educate youself when the opportunity is there. And it may be too late then to actually profit from that.
Another thing I learned from Michal is how discipline is important in your business success and how sports help in achieving that discipline.
Michal owns majority shares in 4 publicly traded companies. And he juggles all these companies simultaneously.
How he does it? How is it possible? It is only possible by discipline, by planning, by being commited to invest time and time into these businesses.
Getting up early, getting to the office, being in the office and being available for his managers and setting time off for them.
Meet them to speak to them and to make the important decisions.
And he says every day when he gets up he invests 40 minutes into sports.
And he considers hmself to be lazy in that topic. You may not know but Michal is also one of the best car racing drivers in Europe.
He is actually several time europe vice champion in car racing and this sport gives him the balance needed for his business.
And it also somehow satisfies his desire for competition. He is extremely competitive.
Sports support your competitiveness. I was talking about the role of sports in business and in billionaires lives earlier in a video.
I will provide a link down here.
So, watch that video and you'll see how sports help you in business.
Michal loves also every ball sports. In his youth he wanted to play voleyball. He used to play volleyball.
He also profesionally played basketball for 18 years and he still likes to play some soccer with his friends.
And in order to keep in shape for that, to stay competitive and also to stay competitive in his car racing he needs to exercise regularly.
And this is something he says he doesn't enjoy; he actually doesn't like; he is pretty lazy about that.
But he forces himself each and every day after he gets up to 40 minutes of sports.
He does push-ups, he does swimming and some general exercise. 40 minutes every morning and sometimes also 40 minutes in the evening.
Of course when he gets up he gets these excuses, "I'm too late; I don't feel well; maybe another time; I will skip it today."
But then he realizes this is just an excuse and in reality he is just lazy. And he forces himself to these exercises.
So, he keeps this discipline and this discipline gets him also disciplined in business.
He told me he is extremely motivated by competition and this is something that drives him both in his sports and in his business enterprises.
And also from sports, from basketball, from his trainer he has learned this "never give up" attitude that helps a lot in many situations in business.
If you're in business, you know there are so many situations when you're close to giving up, when you're close to financial colapse
Or maybe failure of a project of this investment, of another investment, of this undertaking.
And in many cases the solution is just to hang on to endure or to not give up; to proceed and to go on; to push through the crisis.
And another thing I want to tell you I learned from Michal is this incessant improvement.
It's not only about learning, about studying. It's more about learning from your mistakes, from your defeats, right?
Drawing conclusions from what went wrong and improving upon that.
And Michal told me what makes him happy is to do things right. Not perfectly, but right.
And to be better today that he was yesterday. So, this is something that many billionaires have in common.
This strategy of small steps, of small improvements; of doing something today; of improving a little bit today and being better today than yestarday.
And it sums up in a long-term to huge, huge improvements, to huge business adventages, to huge cost savings.
And in the consequence also to huge profits. And at the end I want to tell you the message Michal sent to the young entrepreneurs in the world.
That I want to share with you now.
Have plans, dreams and make an effort to realize them consistantly. Don't give up easily. Fight above else with your weaknesses and limitations.
You see the last part. This is the incessant improvement. To improve upon your weaknesses; to improve upon you limitations.
To become better today than you were yesterday.
And raise the opportunity, make an effort to realize your dreams. And do it consistantly.
Be disciplined in doing that. This is the main message Michal shared with me.
And of course, I've learnt many other things from this great, humble man. One of them is about thinking big.
You will fin it in my previous video. I will provide the link here and up here. And the other thing is how to think about money.
And you'll find it in my video when I talk about the differences between how poor people and how wealthy people think about money.
I will provide the link here and maybe here.
And of course I learnt a lot more from this great, humble man.
You will find it in my upcoming book "The Billion Dollar Secret".
If you are interested, go to TheBillionDollarSecret.com, download a free chapter and subscribe for updates to that book.
So you will be notified about the process and when the book comes out. If you like this video, give me a thumb up, subscribe.
Don't forget to hit the bell button in order not to miss my other videos. I talk a lot about billionaires.
About how the best entrepreneurs in the world think and act. What I've learnt from them.
I've interviewed over 25 self-made billionaires around the world and I share the secret knowledge here on this channel.
And also in my upcoming book. I talk also about doing the impossible, about my experiences with doing extreme things and about cryptocurrencies.
And my experiences with investing in cryptocurrencies. I talk to billionaires, to the best entrepreneurs in the world.
And I talk also to the most influential people in the crypto world.
So, tell me what you thing about the lessons I've learned from Michal. Below in the comments.
I promised you a competition. So, the competition will be one copy of this book "The Billion Dollar Secret" as soon as it appears.
With my personal dedication.
How can you get it? You can get it by providing a quote from that video and sharing on your social media profiles.
On Twitter, on Facebook, on whatever with the hashtag #TheBillionDollarSecret.
#TheBillionDollarSecret
We will scan social media for that and establish the winner of the competition for the best share.
If you like this video I invite you to watch my other videos. That's it from London.
I wish you a fantastic day. Let's do something extraordinary today!