Charles Koch is another great name among those that stand in the circle of some of the wealthiest and most powerful men in the country. No doubt that Koch ranks among the wealthiest people in the country on the list of Forbes, with the likes of Bill Gates, Warren Buffet, Larry Ellison and many others. With no way to run out of profiles on the wealthy and the famous, it seems that there are more individuals that can be added to this list of individuals that are smart, passionate about what they do, and they are also passionate about being successful as well as charitable.
Is it possible that in your quest for knowledge on how to amass wealth that you have forgotten that philanthropy is an all important element of what it takes to make it? If you have avoided being charitable and committed to noble causes then you are missing out on what it means to be truly wealthy. The wealthiest and most respected individuals of our time like Charles Koch and many others know that there are no “big” secrets to living a great life. So, what can I tell you about Koch that differs from the rest?
Early Life of Charles Koch
If you were to ask how Koch’s life was different from everyone else’s, there isn’t much to tell at all except for the fact that Koch Enterprises is a businesses that Charles and his brother David inherited from their father, Fred C. Koch. The business originated in the field of oil and chemicals, and while David owns 42% and serves as Executive Vice President, Charles is equally responsible for running the company.
The company began to expand into:
- Pollution control
- Fertiliizers and much more
In fact, you may be familiar with Stainmaste carpet, which is one of the company’s many creations. Ever heard of Lycra? Oh yeah, that is their’s too! Dixie Cup? Sure, the list goes on. However, one thing you may not have known about is the book that Koch wrote in 2007 entitled The Science of Success. When Charles Koch wrote this book, he simply wanted to share his philosophy on management, and as a result, people began to pay attention to this insight over his creations.
Koch wanted to share his belief in how businesses should be fun with market based management including the following keys:
- Virtue and Talents
- Knowledge Processes
- Decision Rights
With so much to consider and to manage, is it too much work to build a company with this principles? Or, is Koch onto something you can use for your home based business too? Yes, all of these are important, and although these principles are NOT being used throughout Koch Industries yet, they are what he attributes his success to.
With this in mind, does it bear repeating that standing on these principles for your business and being a philanthropist set the tone for success in your life?
Study the Book by Charles Koch
While Charles Koch may appear to be just another billionaire, remember, these men are not just focused on wealth but giving back. They also show that they believe that their business succeeds when run as a team effort.
Koch like all of the others I’ve shared with you so far, each believe that it’s about hard work, family, diligence, and implementation of principles that bring unity and balance to your business. There isn’t a secret, but it’s simply a way of life.
Would you agree?