Howard Hughes may be the most fascinating figure of the past century

For being the first American Billionaire, not much is known about the man who kept his life under a veil of secrecy

I’ve scoured books and the internet to pull out a few lessons from the tremendously successful Hughes

The Key To Success Lies in Failure

Hughes, having inherited a large sum of money, decided he wanted to become a film producer

He did, and he failed miserably

But during that process he obsessed over every process and studied everyone around him

He learned a tremendous amount during this process and went on to produce a handful of legitimate films

The best lessons are learned through failure

Money Talks

Hughes was flush with cash almost his whole life

He used it to get things he wanted done

And he had no problem stroking checks to make things go away

In the 1940’s, Hughes came under scrutiny by the US government

He found someone in DC who he paid $100k

And the problems went away

Marketing is the Fuel to Profit

Part of Hughes success as a filmaker was his ability to market

For one movie, The Outlaw, he had his aircraft company create a blimp with his movie printed on the side

Mass advertising, in a way only Hughes himself could do

Make Important Decisions on YOUR Time

The biggest decisions have much wider arching ramifications than almost anything else in life

So when it comes time to make those decisions, take your time

Avoid being forced to make a decision on someone elses timeline

Hughes was notorious for delaying major projects

Remove Yourself Entirely From Your Business For Small Period(s) of Time

Due to his mental state, Hughes was forced to leave his business at unforseen and random times

While the way Hughes did it was detrimental at times, it began to provide him new and unique perspectives while he was away from the business

Stepping away from something you are close to always yields fresh perspectives and a renewed energy

That's all for today friends

Have a great day and talk soon,

Jake

Further Material on Howard Hughes:

• Hughes: The Private Diaries, Memos, and Letters

• Founders Podcast Episode

• Inside the life of eccentric billionaire Howard Hughes, a playboy aviator who died a germaphobic recluse