personal finance : Your Money Personal Finance : Your Money: 11 key lessons we can learn from Amancio Ortega about money and investing

Sunday, August 25, 2024

11 key lessons we can learn from Amancio Ortega about money and investing

 

Amancio Ortega



" In the street, I only want to be recognized by my family, my friends and people I work with " 


                                                    Amancio Ortega



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  1. Hunger and Deprivation Can Drive Success


Ortega grew up in poverty, with his family sometimes only able to afford potatoes to eat . This hardship instilled a strong drive in him to succeed and never be in that situation again. Overcoming adversity can be a powerful motivator for achieving great things.


  2. Formal Education is Not Always Necessary


Ortega left school at age 13 and never received a college degree, yet went on to build one of the world's largest fashion retailers . While education is valuable, real-world experience and passion for your work can be just as important for success.


  3. Adaptability is Key to Staying Ahead


Ortega pioneered the fast fashion model, allowing Zara to rapidly adapt to changing trends . Being willing to change course and innovate is crucial for any business to thrive long-term.


  4. Invest in Your Employees


Ortega believes employees who interact directly with customers are a company's most important asset . Investing in hiring top talent and keeping them happy pays dividends.


  5. Humility and Modesty Can Coexist with Wealth


Despite his immense wealth, Ortega remains humble, dressing modestly and maintaining a low profile . You don't have to flaunt your money to enjoy the fruits of your labor.


  6. It's Never Too Late to Achieve Your Dreams


Ortega founded Zara at age 40, showing it's possible to become a billionaire entrepreneur later in life . It's never too late to pursue your passions and goals.


  7. Diversify Your Investments


In addition to Zara, Ortega has built a vast real estate portfolio around the world . Diversifying beyond your core business can help protect your wealth.


 8. Philanthropy is Important


Ortega has donated billions through his foundation to causes like cancer research and helping the needy . Giving back is a worthy use of wealth.


  9. Patience and Persistence Pay Off


It took a decade for Ortega to build Zara into a global powerhouse . Staying focused and seeing your vision through, even when progress is slow, is key.


  10. Proximity to Your Roots Can Aid Success


Ortega built Zara's headquarters in his hometown . Staying connected to where you came from can provide stability and inspiration.


  11. Enjoy Life's Luxuries in Moderation


While modest, Ortega does indulge in some luxuries like owning an Audi and an equestrian center . Treating yourself occasionally is fine if you can afford it. learn more from