Carlos Slim: the tycoon's five tips for new entrepreneurs to succeed in their businesses

Carlos Slim Helú is one of the most important Mexican businessmen in the country, and even, in the world. The tycoon, who has Lebanese ancestry, is the person with the most money in Mexico, and he owns some of the most important companies nationwide.

Slim studied Civil Engineering at the National Autonomous University of Mexico (UNAM), and started in the business world at a very young age, since as a child he started selling sweets under the stairs of his house, which was located in the exclusive area of Polanco, opposite Lincoln Park.

The magnate had an impeccable financial education, because from a very young age his father taught him that he should write down all his transactions, both income and expenses, in a notebook, and at the end of the month, they checked what he had spent his money on. This helped Slim a lot to have a proper management of his money.

Thanks to this, the tycoon, who from 2010 to 2013 was the wealthiest person in the world, has been very successful in business.

If you are starting a business, and you want to know Slim's tips for you to succeed in it, we show you some that the tycoon has given so that entrepreneurs have positive results.

By this phrase, the magnate refers to the fact that, at times when the economy is good, you have to keep your feet on the ground, and not waste money. In this way, in bad times there will be no need to make dramatic changes or suffer for money.

Slim considers it a reason for success that the staff of his companies are active, modern people, and in continuous personal and professional development. It seeks to make them people who are constantly improving, seeking to improve their productivity, reduce expenses, that is, the opposite of what a person who would be well-off in their work would be.

Not growing up ahead of time is another of the tips that the entrepreneur has mentioned. He gives as an example that one of his most important companies, Grupo Carso, always had its offices in industrial premises plants, but when the business really required it, and not before, he moved them to more colorful public offices.

This is despite the fact that he had enough money to have top-level offices from the start, but he did not consider it necessary, since his businesses did not require it. And it is that sometimes, when you start a business, it is customary to spend on unnecessary things, instead of letting the course of the project make us grow.

Slim believes that there is no challenge that cannot be achieved by working together, with clear objectives, and with knowledge of the instruments to achieve it. This point basically refers to the fact that unity is strength, and the company must have a clear vision of what it wants and where it is going, and this vision must be transmitted to all the personnel working on the project, so that they can all make it a reality.

Slim has also stated that one should live without fear or guilt, because fears are the worst feelings of people, because it weakens them and impedes their action, and moreover, it depresses them. On the other hand, guilt is a huge burden on people's thinking, on their actions, and in general, on life.

Between fear and guilt, the present becomes difficult, and above all, the path to the future becomes difficult, so there is nothing better to overcome fear, than to act, because action feeds our confidence, while indecision feeds fear.

KEEP READING: