In 1997, Bakous started Makari & Co, a business founded on the principle of “We See Opportunities, You See Results“. In the last few years he has helped his clients save millions of dollars in tax. His work has attracted the attention of Jay Abraham, who has actively endorsed Bakous’s wealth creation service.
You have often said that business leaders and wealth creators share many common characteristics. Can you describe some of these?
I could probably summarise it all in six qualities:
- Determination – The most important aspect of being a great leader is determination and persistence. This comes back to the story about the Symond family and what John Symond’s mother told me that night: every great business leader has had setbacks, but persistence and determination succeed where everything else fails. There are many things that can happen to you on your path to wealth creation, but people who are persistent and determined will see a worthwhile project through to the end. It is often said that many failures are experienced by people who gave up when they were so close to success.
- Focus – Successful wealth creators are very focused people. That’s not to say they’re not balanced, they do keep a good work/life balance. However, when they’re at work they remain focused on the most important things that they have to do. They are very good at prioritising in a multi-tasking world.
- Passion – This is something that is very easy to see. Business leaders believe so strongly in the business they are building that the passion manifests itself in the quality of work they do and the amount they can achieve. Their passion is contagious for their clients and for the people they work with.
- Strategic learners – Successful business leaders and wealth creators are very good strategists. While managers concentrate on doing a good job, leaders decide what needs to be done by concentrating on the big picture.
- Lateral thinkers – Wealth creators are able to think outside the box. Most of the successful businesses you see are doing something that is different to their competitors. This is related to their USP. To be able to create real value over and above what your competitors are doing, you’ve got to do things differently, and you’ve got to think differently. Successful passive investors are also willing to find new ways of using money. If you keep doing what everybody else is doing you become like everybody else and there is nothing to differentiate you.
- Inspirational – Successful people are inspiring people. They are motivating, not just for their team, but also for their customers. Often money is not enough to motivate employees, particularly in the modern age, and cheaper prices are not enough to motivate customers to keep coming back. So often we look at the inspirational nature of the leader to drive the business forward.
For more of this interview and the characteristics of business leaders check out “Secrets of Top Business Builders Exposed!“
