What the 20/80 rule of success looks like: the secret of Bernard Arnault, one of the richest men in the world

Tycoon Bernard Arnault has spoken on several occasions about his secret to success and that of his luxury companies. It’s what you do day in and day out to be a successful billionaire.

He never leaves the top 3 richest men on the planet. That’s just how it is Bernard Arnault owner of luxury goods companies and the Louis Vuitton (LVMH) conglomerate, who today enjoys a multi-million dollar fortune. At 75, he acknowledges that he made mistakes, but learning from them was essential to continuing on his path.

“The secret of his success It’s a passion for detail and leaving nothing to chance. said his son Antoine in an interview with Bloomberg . And many people want to know what philosophy is behind their a giant net worth of around $195.1 billion.

In the end, he is still human.

His son revealed that the tycoon is always attentive to perfection and details, even if they are small, “on the chairs in the store, the shoes that the salespeople wear… Things that normally you wouldn’t notice,” he explained.

But also, The billionaire faithfully follows the 20/80 rule.

What the 20/80 rule of success looks like: the secret of Bernard Arnault, one of the richest men in the world

What is the 20/80 rule of billionaire Bernard Arnault who is about to succeed

As explained in a conversation with Forbes , For Bernard Arnault, execution is essential. This is why in his daily life, to achieve the success he has had so far, he applies the 20/80 rule.

Means that 20% of success comes from having a good idea, but the remaining 80% depends on its execution.

“If you fail at any point in that 80%, the idea won’t work, no matter how good it is.” he assured. Arnaud

The tycoon added that, even if Mistakes are always made during projects, it is essential to know how to analyze them, deal with them and learn from them so as not to repeat them. In this way, he managed to improve his businesses, by emphasizing a permanent “critical eye”.

What the 20/80 rule of success looks like: the secret of Bernard Arnault, one of the richest men in the world

“Mistakes are inevitable, we all make them. We have to accept them. What is not acceptable is repeated mistakes that turn into failures.” said the businessman, according to Investment Master Class . In addition, faults must be detected instantly so that they can be corrected.

Arnault also mentioned that “Money is just a consequence. I always tell my team not to worry too much about profits. If you do your job well, the profits will come.”

Source: Latercera

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