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Michael Bloomberg: Failures provoke business success

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One of the richest businessmen and politicians in America, Michael Bloomberg, served as the Mayor of New York for three consecutive terms and proposed a monthly salary of only $1 for himself. He was the 108th New York Major, and his tenure in office began in 2001.

Michael Bloomberg, the billionaire, has a successful business life which started when he founded his company by his own name, the Bloomberg L.P, which is basically a financial data and terminal company and later got into the media enterprise too. Bloomberg started doing business news under the umbrella of Bloomberg L.P.

"It’s not just talking and hoping but we all have the responsibility to act quickly".

As of Oct 2015, his net worth is about $38.9 billion, making him the 10th richest man in the US. After completing his terms as the mayor of New York City, Michael Bloomberg is now back as the CEO of Bloomberg L.P, his company, and focusing on Bloomberg’s business news division.

Michael Bloomberg shares his life and business insights which serve as major pillars of his success. His world view brings into relevance the ability to live an exceptional life and also overcome adversity through hard work and persistent faith.

Your hardships could translate into business success – Michael Bloomberg

When asked about how he became the man he is now, Michael Bloomberg credited all of his accomplishments to the failures he had in his life.

After his engineering degree, Michael Bloomberg didn’t get the job he wanted for himself and then did his MBA from the Harvard Business School. After, Michael Bloomberg got a job at Solomon Brothers, where he worked for 4 years and later started the Bloomberg L.P.

He said that the success he had with his company was because of his work experience at the Solomon Brothers, as it was the stepping stone for the success that he predicted he would have in the future. He was fired from his job, but the day he got fired, Michael Bloomberg knew it’s time to open his own company, and he did the very next day.

The best way of doing business

Michael Bloomberg never really sees his company and his endeavours as business as usual. He thinks being an entrepreneur is not only about starting a company or having a great business brand. It is also a way to look at the world through your own eyes. “As you see the obstacles, you will find a way to bypass them; as you see the needs, you will provide solutions for them”, he says. Moreover, Michael Bloomberg brings wisdom to the attention for all entrepreneurs to beware, ”You don’t only need ideas to start a business but also have passion for whatever you do, as this will be the greatest thing that will make you succeed in life and separate you from your competition”.

Michael Bloomberg, the top executive, believes if you are going down the roads of business, you must know how to face failures. If you are willing to fail and go for it anyway, you most certainly deserve success. He said, if you are constantly failing in your life but doing the right things, it only means you are nearing your success. “With a little more effort“, then Governor Bloomberg says expressly, “Never give up, you will succeed“.

Philanthropy helps business

Michael Bloomberg is also known to be a great philanthropist of the country. He has donated more than $3 billion to various charities through the Bloomberg Family Foundation and Bloomberg Philanthropies.

Michael Bloomberg has always been a strong believer in helping those who are in dire need. He said he only has one thing in his faith, and that is helping others. He insists that ever since he started helping in philanthropic work, everything is going in the right direction for him.

For charitable purposes, he founded the Bloomberg Philanthropies. Michael Bloomberg has donated more than $100 million to the new technology centre in New York. He is also the architect of the Bloomberg Foundation Jobs. A foundation that seeks to extend opportunities to all by recruiting qualified professionals. And also developing their skills irrespective of race, sexual orientation, colour, or creed.

Michael Bloomberg has also contributed a lot to education, and he’s a firm believer in taking responsibility and acting positively towards the environment and climate change. His views on global climate change are revealing. ” It’s not just talking and hoping, but we all have the responsibility to act quickly“, he says.

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The Editorial Staff

The Editorial Staff

The Editorial Staff at The Business Frontal is a team of writers dedicated to bringing seasoned news stories and how-to business articles to our readers and patrons to help maximize their entrepreneurial potentials.

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