00:00:02another edition of balling the Masters
00:00:04today we’re gonna look at how a young
00:00:06man orphaned as a teenager turned his
00:00:09love of aviation into a multi-billion
00:00:11dollar empire this is a story of Howard
00:00:13Hughes
00:00:13the top three lessons that you can learn
00:00:15from his success Howard row Bart Hughes
00:00:19jr. was an American industrialist
00:00:21aviator engineer film producer director
00:00:24philanthropist and one of the wealthiest
00:00:26people in the world when Hughes was a
00:00:28teenager he lost both his parents and
00:00:30was left with the family inheritance
00:00:32from money his father made by selling
00:00:34his inventions ever ambitious he was
00:00:36quoted as saying I intend to be the
00:00:39greatest golfer in the world the finest
00:00:41producer in Hollywood the greatest pilot
00:00:43in the world and the richest man in the
00:00:45world
00:00:45Hughes aggressively pursued business
00:00:48interests in Hollywood films airlines
00:00:50and hotels and casinos to expand his
00:00:52empire he managed to turn his $1,000,000
00:00:55inheritance into a two billion dollar
00:00:57fortune equivalent to 6.6 billion in
00:01:01today’s dollars Howard Hughes was and
00:01:03still would be considered one of the
00:01:05richest men
00:01:10by being aggressive with his growth
00:01:12plans and by keeping his eye on the
00:01:14prize Hughes was able to become one of
00:01:16the richest men in the world to help you
00:01:18aggressively grow your business here are
00:01:20three action items that you can learn
00:01:21from Howard Hughes action item number
00:01:25one surround yourself with the best as
00:01:28entrepreneurs we can’t do everything
00:01:29ourselves I need to recognize what we’re
00:01:32good at
00:01:32and what we need to delegate to others
00:01:34to help us with getting the right team
00:01:36in place is one of the most important
00:01:38tasks you’ll ever do as a business owner
00:01:40after inheriting his father’s company as
00:01:43a teenager he was recognized that he
00:01:45didn’t have the know-how to run the
00:01:47business and look for someone who could
00:01:49he hired 36 year old Noah Dietrich to
00:01:52become his accountant and right-hand man
00:01:54on a $10,000 a year salary for the next
00:01:57three decades Dietrich eventually became
00:02:00director vice president and CEO of
00:02:02various branches of Hughes’s Empire
00:02:05according the Robert Mayhew a chief
00:02:07adviser to Hughes Dietrich was
00:02:09delivering Howard profits of 50 to 55
00:02:11million dollars a year big bucks in
00:02:14those days action item number two don’t
00:02:21give up on your goals whatever your
00:02:23goals are for your business you need to
00:02:25keep attacking them until you accomplish
00:02:26them forget about what other people say
00:02:29and that the odds might be stacked
00:02:30against you take consistent action every
00:02:33day until you reach your targets and
00:02:35believe that you can do it the hugheses
00:02:38h4 Hercules was the world’s largest
00:02:41flying boat the largest aircraft made
00:02:43from wood and had the biggest wingspan
00:02:45of any aircraft ever built it was
00:02:48contracted by the US government to
00:02:50transport troops across the Atlantic to
00:02:51avoid German u-boats in the Second World
00:02:53War
00:02:54nicknamed the Spruce Goose it was three
00:02:56times the size of the largest plane ever
00:02:59previously built nobody thought Hughes
00:03:02would ever get it off the ground
00:03:04kept pushing towards his goal despite
00:03:06the naysayers according to Hughes the
00:03:09thing was a black sheep
00:03:11nobody wanted to fool around with it or
00:03:13become contaminated by it we’re working
00:03:16in a complete vacuum as to information
00:03:18based upon prior performance and prior
00:03:20design I defy anyone today to design an
00:03:23airplane substantially more efficient
00:03:25than this one for its purpose action
00:03:31atom number three be hands on being an
00:03:34active part of your business is crucial
00:03:36to its success you need to know when the
00:03:38higher people were you also need to know
00:03:40what your job is and show people that
00:03:42you’re dedicated to doing it and inspire
00:03:44them to do their job to the best of
00:03:45their abilities with some of the best
00:03:48people in the industry working form
00:03:49Hughes could have chosen to distance
00:03:51himself from goings ons as the various
00:03:53enterprises but instead Hughes chose to
00:03:56be hands-on involving himself in even
00:03:58the smallest of details he would
00:04:00personally test fly all the planes that
00:04:02he helped design he would often even put
00:04:04his own life at risk
00:04:05to involve himself and improve his
00:04:07product he was also for the most part
00:04:09adored by his staff who appreciated his
00:04:12hands-on approach and were inspired by
00:04:13his dedication and enthusiasm
00:04:16according to Hughes if I’ve made a
00:04:18mistake in the design then I’m the one
00:04:20who should pay for it I certainly would
00:04:22not ask somebody else to fly plane if I
00:04:24were afraid to do it myself
00:04:30so remember surround yourself with the
00:04:32best don’t give up on your goals and be
00:04:35hands-on to finish up this video I
00:04:38wanted to share some of my favorite
00:04:39quotes from Howard Hughes and his best
00:04:41true story
00:05:13Hughes’s love of flying roofs began when
00:05:16he attended a Yale Harvard Boat Race
00:05:18with his father after his father lost a
00:05:21bet the Harvard would win the
00:05:22fourteen-year-old Hughes was promised
00:05:24anything he wanted while his dad
00:05:26proposed buying him his own boat
00:05:28Hughes jr. asked to fly in the old
00:05:30broken-down seaplane anchored in front
00:05:32of their hotel with the plane’s old age
00:05:35in its corroded wires he was his
00:05:37father’s initial reaction was no but
00:05:40used jr. proved so persistent that he
00:05:42could not be denied he finally gave in
00:05:44said Hughes this was the very first
00:05:46contact I had with flying throughout his
00:05:49career many more were forced to give in
00:05:52to Hughes his desires thank you for
00:05:58joining me for another edition of Molly
00:05:59the Masters if you enjoyed the video
00:06:01please give it a thumbs up I’d also love
00:06:03to hear your thoughts and feedback if
00:06:05you want to leave comment below the
00:06:06video and stay tuned to the next episode
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