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Business Ideas – 3 Business Lessons From Ted Turner

00:00:09hi I’m Evan Carmichael and welcome to

00:00:12another edition of modeling the Masters

00:00:13I believe that the fastest and most

00:00:15effective way to grow your business is

00:00:17to model the strategies of people who

00:00:19have already done what you’re trying to

00:00:20do so today we’re going to look at how a

00:00:22young man who had all the odds in the

00:00:24world stacked against him rose up to the

00:00:27challenge proved his critics wrong and

00:00:29went on to become one of the wealthiest

00:00:30entrepreneurs in the world this is a

00:00:33story of CNN found there Ted Turner and

00:00:35the top three lessons you can learn from

00:00:37his success Ted Turner is an American

00:00:42media mogul and philanthropist he’s the

00:00:44founder of the cable news network CNN

00:00:46and is known for his 1 billion dollar

00:00:48gift to support united nations causes

00:00:50growing up Turner was a C student and

00:00:53was rebellious eventually getting

00:00:54expelled from Brown University for

00:00:56having a woman in his room with him in

00:00:58the following years his parents divorced

00:01:01he got married and divorced his 12 year

00:01:03old sister developed terminal lupus and

00:01:05his father went so far into debt with

00:01:07his advertising company that he

00:01:09committed suicide Turner was 24 years

00:01:12old and his father’s company was almost

00:01:13bankrupt but he decided he would take

00:01:15over the family business nobody believed

00:01:18the young rebel would ever make anything

00:01:20of himself Turner set out to prove them

00:01:23wrong he built up his father’s

00:01:25advertising business and then expanded

00:01:27into radio and television ventures he

00:01:29went on to create the CNN television

00:01:31network and Turner Broadcasting System

00:01:33TBS he would also go on the by the

00:01:36Atlanta Braves baseball team in Atlanta

00:01:38Hawks basketball team to provide

00:01:40original content for her stations Turner

00:01:43came a long way from a 24 year old who

00:01:45nobody believed in in 1991 turned became

00:01:48the first media figure to be named Time

00:01:50magazine’s man of the year he owns over

00:01:532 million acres of land has the largest

00:01:56private bison herd of 50,000 and donated

00:01:591 billion dollars to United Nations

00:02:01causes his current net worth is over two

00:02:03billion dollars and he currently

00:02:05dedicates his time and resources to

00:02:06making the world a better safer place

00:02:08for future generations

00:02:11by committing himself to becoming a

00:02:13success and by working hard Ted Turner

00:02:16was able to turn his father’s bankrupt

00:02:18company around and become one of the

00:02:20wealthiest entrepreneurs in the world to

00:02:22help you turn your company around here

00:02:24are three action items you can learn

00:02:25from Ted Turner action item number one

00:02:30decide you’ll be a success a turning

00:02:33point for many entrepreneurs comes when

00:02:35they commit to their business and decide

00:02:37that they are going to see things

00:02:38through until they become a success it

00:02:41doesn’t mean that it’s going to happen

00:02:42overnight but it’s a commitment to

00:02:44reaching success I’m putting the daily

00:02:46effort into making that goal become a

00:02:48reality stunned by his father’s suicide

00:02:50turn and realize that he had to set

00:02:53ambitious goals for himself so he always

00:02:55had something to live for he committed

00:02:58to changing his path and getting serious

00:03:00about his life despite advice a sell-off

00:03:02Turner advertising after his father’s

00:03:04death turn her fought to keep the

00:03:06company and work to bringing enough

00:03:08business to pay off its debts as he grew

00:03:10his business he kept driving for higher

00:03:12goals to keep himself challenged and

00:03:14gave his best effort every day according

00:03:18to Turner if you’ve got an innovative

00:03:20idea and the majority doesn’t poopoo it

00:03:22then odds are you must not have a very

00:03:25good idea when people thought I was

00:03:27loony it didn’t bother me at all in fact

00:03:30I considered that I must be really onto

00:03:32something you should set goals beyond

00:03:34your reach so you always have something

00:03:36to live for I decided I wanted to be a


00:03:41oxana number two never quit when you’re

00:03:45an entrepreneur there’s always a

00:03:46temptation to quit when the excitement

00:03:48of starting up wears off and near the

00:03:50daily grind in front in your business

00:03:51don’t quit remember you decided that

00:03:55you’re going to be successful and that

00:03:57comes from doing something every day

00:03:59that will move your business forward

00:04:00remember why you started your business

00:04:02and think about all the people you’re

00:04:04going to be able to help find that

00:04:06motivation to keep going even when

00:04:08people around you think you’re nuts

00:04:10almost every venture that Turner started

00:04:13up for every business that he acquired

00:04:14critics told him that it would never

00:04:16work and he was spending his money

00:04:18foolishly when Turner told people he

00:04:21wanted to create a 24-hour news only

00:04:23network they thought he was crazy nobody

00:04:26would tune in to watch news all day long

00:04:28it was a suicide mission they said

00:04:31undeterred Turner fought tooth and nail

00:04:33until he finally launched CNN which

00:04:35revolutionized the media industry and

00:04:37became a rapid success according to

00:04:40Turner all my life people have said that

00:04:42I wasn’t going to make it they laughed

00:04:45at me when i started with CBS they

00:04:47laughed at me when i started CNN they

00:04:49laughed at me when I bought the Braves

00:04:50they laughed at me when I bought the

00:04:52Hawks they laughed at me when I bought

00:04:54MGM you can never quit winners never

00:04:57quit and quitters never win action item

00:05:03number three work hard there are many

00:05:06paths of success but one common theme

00:05:08you’ll find if you model successful

00:05:09entrepreneurs is that they worked very

00:05:11hard to get their businesses going being

00:05:14an entrepreneur is not a nine-to-five

00:05:15job you’re going to work harder than

00:05:17you’ve ever worked before and will

00:05:19hopefully love almost every minute of it

00:05:21because you’re doing something that

00:05:23you’re extremely passionate about

00:05:24success does not come without the hard

00:05:26work behind it when Turner was launching

00:05:29CNN he frequently worked 18-hour days he

00:05:32converted his office into an apartment

00:05:34and slept over most nights at CNN

00:05:36headquarters CNN staff regularly saw him

00:05:39leave his office to grab a cup coffee in

00:05:41his bathrobe Turner felt that the best

00:05:43way to lead is by example and inspired

00:05:46his staff to work almost as hard as him

00:05:48to achieve their common goal

00:05:49a former employee one set of Turner he

00:05:52was much more than a cheerleader he was

00:05:55a kind of guy you’d want to run through

00:05:56a wall for according to Turner early to

00:06:00bed early to rise work like hell and

00:06:03advertise CNN came out of my heart and

00:06:07soul I see what keeps people young work

00:06:13so remember decide you’re going to be a

00:06:16success never quit and work hard to

00:06:20finish up this video I wanted to share

00:06:21one of my favorite true stories about

00:06:23Ted Turner and some of his best quotes

00:06:27Turner has a long-standing bitterness

00:06:30with News Corporation’s Rupert Murdoch

00:06:32it began in nineteen eighty-three when a

00:06:34Murdock sponsored yacht crashed in the

00:06:36Turner’s boat during a race causing it

00:06:38to sink only 10 kilometers from the

00:06:40finish line Turner was an avid sailor

00:06:43and won the American Cup sailings most

00:06:45prestigious award so he took the crash

00:06:48personally he challenged Murdoch to a

00:06:50televised fist fight in Las Vegas

00:06:52Murdock declined

00:07:30thank you for joining me for another

00:07:32edition of model in the Masters if you

00:07:34like the video and want to see more

00:07:35please leave a thumbs up below I’d also

00:07:37love to hear feedback if you want to

00:07:39leave a comment under the video and stay

00:07:41tuned for the next episode