hi I’m Evan Carmichael welcome to another edition model in the Masters I
another edition model in the Masters I
another edition model in the Masters I believe that the fastest and most
believe that the fastest and most
believe that the fastest and most effective way to great business is the
effective way to great business is the
effective way to great business is the model the strategies that people who’ve
model the strategies that people who’ve
model the strategies that people who’ve already done what you’re trying to do so
already done what you’re trying to do so
already done what you’re trying to do so today we’re going to look at how a man
today we’re going to look at how a man
today we’re going to look at how a man turned a small-town newspaper into a
turned a small-town newspaper into a
turned a small-town newspaper into a media empire and amassed a personal
media empire and amassed a personal
media empire and amassed a personal fortune of over eight billion dollars
fortune of over eight billion dollars
fortune of over eight billion dollars this is a story of media mogul and News
this is a story of media mogul and News
this is a story of media mogul and News Corporation found there Rupert Murdoch
Corporation found there Rupert Murdoch
Corporation found there Rupert Murdoch in a top three lessons you can learn
in a top three lessons you can learn
in a top three lessons you can learn from his success Rupert Murdoch grew up
from his success Rupert Murdoch grew up
from his success Rupert Murdoch grew up under the guise of a newspaperman some
under the guise of a newspaperman some
under the guise of a newspaperman some of dame elisabeth murdoch and Sir Keith
of dame elisabeth murdoch and Sir Keith
of dame elisabeth murdoch and Sir Keith Murdoch a well-connected journalist and
Murdoch a well-connected journalist and
Murdoch a well-connected journalist and adviser to former Australian Prime
adviser to former Australian Prime
adviser to former Australian Prime Minister Billy Hughes Keith became
Minister Billy Hughes Keith became
Minister Billy Hughes Keith became australia’s most prominent newspaper
australia’s most prominent newspaper
australia’s most prominent newspaper executive owning the herald and weekly
executive owning the herald and weekly
executive owning the herald and weekly times and was knighted for services to
times and was knighted for services to
times and was knighted for services to the crown he had always envisioned
the crown he had always envisioned
the crown he had always envisioned passing on his business to his young son
passing on his business to his young son
passing on his business to his young son but was disappointed with the young
but was disappointed with the young
but was disappointed with the young Rupert’s slow progress because of this
Rupert’s slow progress because of this
Rupert’s slow progress because of this Murdoch desired to be like his father
Murdoch desired to be like his father
Murdoch desired to be like his father but often rebelled Raonic attended
but often rebelled Raonic attended
but often rebelled Raonic attended Geelong grammar school the same elite
Geelong grammar school the same elite
Geelong grammar school the same elite boarding school in the outskirts of
boarding school in the outskirts of
boarding school in the outskirts of Australia attended by Prince Charles he
Australia attended by Prince Charles he
Australia attended by Prince Charles he later enrolled in Worchester college at
later enrolled in Worchester college at
later enrolled in Worchester college at the University of Oxford at the time his
the University of Oxford at the time his
the University of Oxford at the time his father was experiencing severe heart
father was experiencing severe heart
father was experiencing severe heart problems and grew disappointed to learn
problems and grew disappointed to learn
problems and grew disappointed to learn that a son was developing reputation for
that a son was developing reputation for
that a son was developing reputation for nothing more than partying at the
nothing more than partying at the
nothing more than partying at the expense of his studies worried about a
expense of his studies worried about a
expense of his studies worried about a son’s future Keith called in a favor
son’s future Keith called in a favor
son’s future Keith called in a favor from a friend of his Lord Beaverbrook
from a friend of his Lord Beaverbrook
from a friend of his Lord Beaverbrook who was publisher of The Daily Express
who was publisher of The Daily Express
who was publisher of The Daily Express in London beaverbrook Gabe Rupert a job
in London beaverbrook Gabe Rupert a job
in London beaverbrook Gabe Rupert a job working at the newspaper where he
working at the newspaper where he
working at the newspaper where he quickly developed the talent for
quickly developed the talent for
quickly developed the talent for sensational headlines and snappy writing
sensational headlines and snappy writing
sensational headlines and snappy writing after having successfully completed
after having successfully completed
after having successfully completed college Murdoch would purchase them and
college Murdoch would purchase them and
college Murdoch would purchase them and revived the news a small-town newspaper
revived the news a small-town newspaper
revived the news a small-town newspaper Merc began looking for other daily and
Merc began looking for other daily and
Merc began looking for other daily and local newspapers to acquire in little
local newspapers to acquire in little
local newspapers to acquire in little time Murdoch that gained control of most
time Murdoch that gained control of most
time Murdoch that gained control of most of the newspapers in Australia’s capital
of the newspapers in Australia’s capital
of the newspapers in Australia’s capital cities including Sydney’s the Daily
cities including Sydney’s the Daily
cities including Sydney’s the Daily Mirror with this he was able to begin
Mirror with this he was able to begin
Mirror with this he was able to begin offering the larger competitors in
offering the larger competitors in
offering the larger competitors in Sydney a real challenge his papers were
Sydney a real challenge his papers were
Sydney a real challenge his papers were soon becoming known for their exciting
soon becoming known for their exciting
soon becoming known for their exciting stories about sex and mayhem
stories about sex and mayhem
stories about sex and mayhem in 1960 form he followed this up with
in 1960 form he followed this up with
in 1960 form he followed this up with the establishment of the Australian the
the establishment of the Australian the
the establishment of the Australian the country’s first national daily newspaper
country’s first national daily newspaper
country’s first national daily newspaper initially based out of Canberra Murdoch
initially based out of Canberra Murdoch
initially based out of Canberra Murdoch moved the australian to sydney after
moved the australian to sydney after
moved the australian to sydney after which his reputation as a serious news
which his reputation as a serious news
which his reputation as a serious news man began to develop a more serious
man began to develop a more serious
man began to develop a more serious publication than his others the
publication than his others the
publication than his others the Australian never grew particularly
Australian never grew particularly
Australian never grew particularly largest circulation but did generate an
largest circulation but did generate an
largest circulation but did generate an elite readership and lent itself to
elite readership and lent itself to
elite readership and lent itself to Murdoch’s influence among the powers
Murdoch’s influence among the powers
Murdoch’s influence among the powers that be in 1972 Murdoch acquired
that be in 1972 Murdoch acquired
that be in 1972 Murdoch acquired Sydney’s The Daily Telegraph which made
Sydney’s The Daily Telegraph which made
Sydney’s The Daily Telegraph which made him one of the three largest newspaper
him one of the three largest newspaper
him one of the three largest newspaper proprietors in the country Murdock
proprietors in the country Murdock
proprietors in the country Murdock continued to expand his holdings with
continued to expand his holdings with
continued to expand his holdings with the purchase of HarperCollins new world
the purchase of HarperCollins new world
the purchase of HarperCollins new world communications directv and several
communications directv and several
communications directv and several stations from the Chris Craft industries
stations from the Chris Craft industries
stations from the Chris Craft industries he purchased the rights to broadcast the
he purchased the rights to broadcast the
he purchased the rights to broadcast the National Football League as well as
National Football League as well as
National Football League as well as bought the Los Angeles Dodgers baseball
bought the Los Angeles Dodgers baseball
bought the Los Angeles Dodgers baseball team the international family
team the international family
team the international family entertainment religious cable network
entertainment religious cable network
entertainment religious cable network heritage media and part ownership of the
heritage media and part ownership of the
heritage media and part ownership of the New York Knicks and near Granger’s as
New York Knicks and near Granger’s as
New York Knicks and near Granger’s as well as Manchester United for 1.5
well as Manchester United for 1.5
well as Manchester United for 1.5 billion dollars by 2002 muricata
billion dollars by 2002 muricata
billion dollars by 2002 muricata controlling interest in over 750
controlling interest in over 750
controlling interest in over 750 businesses around the world with his
businesses around the world with his
businesses around the world with his newly moved headquarters from Australia
newly moved headquarters from Australia
newly moved headquarters from Australia to the New York City News Corp continues
to the New York City News Corp continues
to the New York City News Corp continues to expand its global media dominance it
to expand its global media dominance it
to expand its global media dominance it currently earns almost 25 billion
currently earns almost 25 billion
currently earns almost 25 billion dollars in yearly revenues not including
dollars in yearly revenues not including
dollars in yearly revenues not including the revenues of companies in which it
the revenues of companies in which it
the revenues of companies in which it only has a minority stake with a
only has a minority stake with a
only has a minority stake with a personal net worth of 6.7 billion
personal net worth of 6.7 billion
personal net worth of 6.7 billion dollars Murdoch continues his reign as
dollars Murdoch continues his reign as
dollars Murdoch continues his reign as one of the world’s most successful media
one of the world’s most successful media
one of the world’s most successful media magnets industry by tapping into what he
magnets industry by tapping into what he
magnets industry by tapping into what he was really good at Rupert Murdoch was
was really good at Rupert Murdoch was
was really good at Rupert Murdoch was able to turn a small-town newspaper into
able to turn a small-town newspaper into
able to turn a small-town newspaper into a multibillion-dollar Empire to help
a multibillion-dollar Empire to help
a multibillion-dollar Empire to help your business take the next big step
your business take the next big step
your business take the next big step forward here are three action items you
forward here are three action items you
forward here are three action items you can learn from the pit Murdoch
action item number one know your
action item number one know your business I always recommend
business I always recommend
business I always recommend entrepreneurs that they build a business
entrepreneurs that they build a business
entrepreneurs that they build a business around their passion a big reason behind
around their passion a big reason behind
around their passion a big reason behind this is that you have to know your
this is that you have to know your
this is that you have to know your business to be successful getting into
business to be successful getting into
business to be successful getting into an industry that you don’t understand
an industry that you don’t understand
an industry that you don’t understand because you think you make a lot of
because you think you make a lot of
because you think you make a lot of money is a quick recipe for failure the
money is a quick recipe for failure the
money is a quick recipe for failure the more you understand your business and
more you understand your business and
more you understand your business and have a passion for the greater your
have a passion for the greater your
have a passion for the greater your chances of success while Murdock
chances of success while Murdock
chances of success while Murdock understands the pitfalls of
understands the pitfalls of
understands the pitfalls of micromanaging he has never been one to
micromanaging he has never been one to
micromanaging he has never been one to sit back and let someone else call the
sit back and let someone else call the
sit back and let someone else call the shots especially when it comes to his
shots especially when it comes to his
shots especially when it comes to his own business when the printing presses
own business when the printing presses
own business when the printing presses straight up up to the marketing and
straight up up to the marketing and
straight up up to the marketing and advertising apartments Murdock keeps a
advertising apartments Murdock keeps a
advertising apartments Murdock keeps a tight rein on the activities that take
tight rein on the activities that take
tight rein on the activities that take place within his company walls Murdock
place within his company walls Murdock
place within his company walls Murdock never got too big or too rich to involve
never got too big or too rich to involve
never got too big or too rich to involve himself in a daily running of his
himself in a daily running of his
himself in a daily running of his newspapers indeed because his father had
newspapers indeed because his father had
newspapers indeed because his father had involved the young Murdock in all
involved the young Murdock in all
involved the young Murdock in all aspects of his own newspaper from
aspects of his own newspaper from
aspects of his own newspaper from sweeping floors to copy editing he do
sweeping floors to copy editing he do
sweeping floors to copy editing he do intimately familiar with every aspect of
intimately familiar with every aspect of
intimately familiar with every aspect of his operation according to Murdock I try
his operation according to Murdock I try
his operation according to Murdock I try to keep in touch with the details I also
to keep in touch with the details I also
to keep in touch with the details I also look at the product daily that doesn’t
look at the product daily that doesn’t
look at the product daily that doesn’t mean you interfere but it’s important
mean you interfere but it’s important
mean you interfere but it’s important occasionally to show the ability to be
occasionally to show the ability to be
occasionally to show the ability to be involved it shows you understand what’s
involved it shows you understand what’s
involved it shows you understand what’s happening they all put up with me so it
happening they all put up with me so it
happening they all put up with me so it encourages me I probably don’t do it
encourages me I probably don’t do it
encourages me I probably don’t do it enough here I dig in I like to know
enough here I dig in I like to know
enough here I dig in I like to know what’s going on action item number two
what’s going on action item number two
what’s going on action item number two do not fail it’s failing an option for
do not fail it’s failing an option for
do not fail it’s failing an option for you one of the common character traits
you one of the common character traits
you one of the common character traits of successful entrepreneurs is that they
of successful entrepreneurs is that they
of successful entrepreneurs is that they don’t give up on their company they all
don’t give up on their company they all
don’t give up on their company they all go through dark days and times when they
go through dark days and times when they
go through dark days and times when they might question what they’re doing but
might question what they’re doing but
might question what they’re doing but they keep going until they get to that
they keep going until they get to that
they keep going until they get to that light at the end of the tunnel why was
light at the end of the tunnel why was
light at the end of the tunnel why was Murdock so confident in his ability to
Murdock so confident in his ability to
Murdock so confident in his ability to achieve his goals how did he know that
achieve his goals how did he know that
achieve his goals how did he know that despite all the odds he was going to
despite all the odds he was going to
despite all the odds he was going to succeed he was going to make it in the
succeed he was going to make it in the
succeed he was going to make it in the cutthroat news business because Murdock
cutthroat news business because Murdock
cutthroat news business because Murdock knew just how ruthless he could be when
knew just how ruthless he could be when
knew just how ruthless he could be when he was going after something he really
he was going after something he really
he was going after something he really wanted Murdock does fiercely passion
wanted Murdock does fiercely passion
wanted Murdock does fiercely passion about his business and more than
about his business and more than
about his business and more than anything else wants to see it grow to
anything else wants to see it grow to
anything else wants to see it grow to new limits he would regularly work
new limits he would regularly work
new limits he would regularly work 16-hour days a hobbit which continues
16-hour days a hobbit which continues
16-hour days a hobbit which continues even as he enters his 80s Murdock claims
even as he enters his 80s Murdock claims
even as he enters his 80s Murdock claims he will never quit his company noting
he will never quit his company noting
he will never quit his company noting that his mother is well into her
that his mother is well into her
that his mother is well into her nineties and continues to maintain a
nineties and continues to maintain a
nineties and continues to maintain a busy schedule there was no obstacle too
busy schedule there was no obstacle too
busy schedule there was no obstacle too big for Murdock to overcome
big for Murdock to overcome
big for Murdock to overcome he even became a citizen of the United
he even became a citizen of the United
he even became a citizen of the United States in 1985 losing his Australian
States in 1985 losing his Australian
States in 1985 losing his Australian citizen and in order to be able to
citizen and in order to be able to
citizen and in order to be able to legally owned an American television
legally owned an American television
legally owned an American television station with his never-ending ambition
station with his never-ending ambition
station with his never-ending ambition maraca engaged in an endless series of
maraca engaged in an endless series of
maraca engaged in an endless series of takeovers and acquisitions until he had
takeovers and acquisitions until he had
takeovers and acquisitions until he had created an empire that controlled more
created an empire that controlled more
created an empire that controlled more of the world’s information than any
of the world’s information than any
of the world’s information than any other single entity according to Murdoch
other single entity according to Murdoch
other single entity according to Murdoch we have no intention of failing the only
we have no intention of failing the only
we have no intention of failing the only question is how where the success will
question is how where the success will
question is how where the success will have more news people companies still
have more news people companies still
have more news people companies still have their head in the sand but other
have their head in the sand but other
have their head in the sand but other media companies are aggressive it’s
media companies are aggressive it’s
media companies are aggressive it’s perfectly natural that people would be a
perfectly natural that people would be a
perfectly natural that people would be a bit paranoid about me the buck stops
bit paranoid about me the buck stops
bit paranoid about me the buck stops with the guy who signs the checks
action item number three build a team
action item number three build a team creating a successful company usually
creating a successful company usually
creating a successful company usually means building beyond yourself if you
means building beyond yourself if you
means building beyond yourself if you want to have a significant impact on
want to have a significant impact on
want to have a significant impact on your industry then you’ll need to become
your industry then you’ll need to become
your industry then you’ll need to become more than a one-person show hiring good
more than a one-person show hiring good
more than a one-person show hiring good people is the key and it starts with
people is the key and it starts with
people is the key and it starts with having a purpose that people are excited
having a purpose that people are excited
having a purpose that people are excited about mining will only motivate people
about mining will only motivate people
about mining will only motivate people so much they’ll do what they’re told for
so much they’ll do what they’re told for
so much they’ll do what they’re told for money but they’ll give you the heart and
money but they’ll give you the heart and
money but they’ll give you the heart and soul if they believe in what you’re
soul if they believe in what you’re
soul if they believe in what you’re doing in the hiring process Murdock
doing in the hiring process Murdock
doing in the hiring process Murdock claims that his number one priority is
claims that his number one priority is
claims that his number one priority is to find people who embody the
to find people who embody the
to find people who embody the entrepreneurial spirit without that
entrepreneurial spirit without that
entrepreneurial spirit without that characteristic says Murdock the company
characteristic says Murdock the company
characteristic says Murdock the company stagnates and cannot keep up with its
stagnates and cannot keep up with its
stagnates and cannot keep up with its competitors Murdock also claims that
competitors Murdock also claims that
competitors Murdock also claims that without this entrepreneurial spirit
without this entrepreneurial spirit
without this entrepreneurial spirit decisions tend to get political people
decisions tend to get political people
decisions tend to get political people would rather say no then take a risk on
would rather say no then take a risk on
would rather say no then take a risk on something once he’s assembled his a team
something once he’s assembled his a team
something once he’s assembled his a team Murdock strives to cultivate company
Murdock strives to cultivate company
Murdock strives to cultivate company loyalty by assigning significant
loyalty by assigning significant
loyalty by assigning significant responsibilities to each staff member as
responsibilities to each staff member as
responsibilities to each staff member as well as pain slightly better than the
well as pain slightly better than the
well as pain slightly better than the market rate but this is not a fail safe
market rate but this is not a fail safe
market rate but this is not a fail safe solution as Murtagh kozlowski team
solution as Murtagh kozlowski team
solution as Murtagh kozlowski team players along the way according to
players along the way according to
players along the way according to Murdock that’s key to the culture of the
Murdock that’s key to the culture of the
Murdock that’s key to the culture of the company all our division heads are
company all our division heads are
company all our division heads are expected to be entrepreneurial and look
expected to be entrepreneurial and look
expected to be entrepreneurial and look for opportunities to take risks we’re
for opportunities to take risks we’re
for opportunities to take risks we’re not overlaid with these sort of business
not overlaid with these sort of business
not overlaid with these sort of business development groups we have one or two
development groups we have one or two
development groups we have one or two people who help troubleshoot in the
people who help troubleshoot in the
people who help troubleshoot in the finance department but too often you get
finance department but too often you get
finance department but too often you get a group of very brilliant Harvard MBAs
a group of very brilliant Harvard MBAs
a group of very brilliant Harvard MBAs in a company that are set up to study
in a company that are set up to study
in a company that are set up to study strategy or whatever and it tends to
strategy or whatever and it tends to
strategy or whatever and it tends to slow things down you might say that
slow things down you might say that
slow things down you might say that sometimes we can reach out a bit more
sometimes we can reach out a bit more
sometimes we can reach out a bit more but if you know people you make fewer
but if you know people you make fewer
but if you know people you make fewer mistakes so remember know your business
mistakes so remember know your business
mistakes so remember know your business do not fail and build the team to finish
do not fail and build the team to finish
do not fail and build the team to finish up this video I wanted to share when my
up this video I wanted to share when my
up this video I wanted to share when my favorite true stories of Rupert Murdoch
favorite true stories of Rupert Murdoch
favorite true stories of Rupert Murdoch and some of his best quotes in January
and some of his best quotes in January
and some of his best quotes in January two thousand twelve off the coast of
two thousand twelve off the coast of
two thousand twelve off the coast of Tobago Keys five tiny uninhabited
Tobago Keys five tiny uninhabited
Tobago Keys five tiny uninhabited islands in the grenadines there were a
islands in the grenadines there were a
islands in the grenadines there were a gaggle of billionaires yachts there’s
gaggle of billionaires yachts there’s
gaggle of billionaires yachts there’s David Geffen on rising sun the world’s
David Geffen on rising sun the world’s
David Geffen on rising sun the world’s biggest job Simon Cowell on a slipstream
biggest job Simon Cowell on a slipstream
biggest job Simon Cowell on a slipstream Phillip green online heart while
Phillip green online heart while
Phillip green online heart while elsewhere of Marks and Spencers boss
elsewhere of Marks and Spencers boss
elsewhere of Marks and Spencers boss stuart rose is staying with matthew
stuart rose is staying with matthew
stuart rose is staying with matthew freud and elisabeth murdoch
freud and elisabeth murdoch
freud and elisabeth murdoch their yacht next to them is angle share
their yacht next to them is angle share
their yacht next to them is angle share james murdoch spoke and nearby as a
james murdoch spoke and nearby as a
james murdoch spoke and nearby as a floating holiday home of carphone
floating holiday home of carphone
floating holiday home of carphone warehouse boss Charlie Dunstone right in
warehouse boss Charlie Dunstone right in
warehouse boss Charlie Dunstone right in the middle is a craft whose precious
the middle is a craft whose precious
the middle is a craft whose precious cargo is Rupert Murdock Murdock stopped
cargo is Rupert Murdock Murdock stopped
cargo is Rupert Murdock Murdock stopped by Cowell slipstream on his tender
by Cowell slipstream on his tender
by Cowell slipstream on his tender delivering that morning’s newspapers
delivering that morning’s newspapers
delivering that morning’s newspapers published by News International in
published by News International in
published by News International in Britain America and Australia they’ve
Britain America and Australia they’ve
Britain America and Australia they’ve been reproduced on a printing press
been reproduced on a printing press
been reproduced on a printing press installed on Murdoch’s yacht the world’s
installed on Murdoch’s yacht the world’s
installed on Murdoch’s yacht the world’s most expensive newspaper boys do it rose
most expensive newspaper boys do it rose
most expensive newspaper boys do it rose quit digging fork wanting to tip the
quit digging fork wanting to tip the
quit digging fork wanting to tip the deliverer
thank you for joining me for another
thank you for joining me for another dish of the ball in the Masters if you
dish of the ball in the Masters if you
dish of the ball in the Masters if you like the video and you want to see more
like the video and you want to see more
like the video and you want to see more please give it a thumbs up below I’d
please give it a thumbs up below I’d
please give it a thumbs up below I’d also love to hear what you have to think
also love to hear what you have to think
also love to hear what you have to think if you want leave a comment under the
if you want leave a comment under the
if you want leave a comment under the video so thank you and you’ll see you on
video so thank you and you’ll see you on
video so thank you and you’ll see you on the next episode
”
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