These Are the 13 Things Harry Triguboff Can Teach You About Being Successful
The famed founder of Meriton Harry Triguboff may have gotten a late start. But his subsequent triumphs eventually earned him the title of one of the richest men in Australia. Here are a few of his tidbits about being successful.
Do you think you have to come from money or have an elite education to be successful?
Those things may help you. But they aren’t a requirement.
Anyone can make it big. As long as you have the proper mindset.
Harry Triguboff was born in China to Russian parents. He made it to Australia as a teenager. But he didn’t start building his empire right away.
He took a few detours first, including his first job in the textile industry.
Eventually, he got around to property development and completed his first project in his late 20s. He revolutionised the way Australians saw apartment living in a market dominated by single-family homes.
Triguboff earned the nickname, “High Rise Harry”, for his prolific apartment developments in Sydney. With over 75,000 apartments under his belt, this self-made billionaire has some advice to impart to the masses.
Harry Triguboff on Being Successful
Harry Triguboff is a real estate visionary who isn’t afraid to think outside the box. When the rest of the country was buying single-family homes, he had a different idea.
Dare to be a visionary and build your own road to success. Take a look at some of the secrets to his success:
#1 – Give People What They Want
First, you have to give people what they want. Does that sound too simple?
Harry Triguboff’s business philosophy centres around this premise. He approaches matters with the customer in mind.
To put it simply, he’s in business. And in that business, the customer wins. He believes that if you give the market what it wants, you’ll get rewarded for it.
#2 -3 Essentials to Achieve Success
In addition, Harry Triguboff has 3 essential components for success:
- find something you’re good at, something you love/like to do
- be good at it and like to do it
- a willingness to work hard
His philosophy for success doesn’t deviate from these things. So if you’re missing one, you won’t make it. You need all 3 things to succeed.
#3 – Be Relentlessly Consistent
He also believes you have to be consistent. And that means in every facet of your business.
For Triguboff, consistency wins every time. But you have to be relentless about it.
#4 – Value Your Team
What does Triguboff value the most? His team.
In fact, he attributes the success of his business to his people – unequivocally.
He was once asked if he spent a lot of time socialising with other Australian billionaires.
His answer? No, very little.
Triguboff went on to explain that those people were all old, wealthy people. And old people tend to relish talking about the past.
Instead, he’d rather hang around his team because they’re young and vibrant. They have ideas and want to talk about the future.
He understands that his unique selling position and competitive advantage is his people. Triguboff surrounds himself with top performers and looks after them.
#5 – Find Your Happiness
Happiness is an important motivator. So if someone on Triguboff’s team is unhappy, he makes sure to remove them.
He reasons that the person is not enjoying what he’s doing and doesn’t want to be there. And getting rid of them the next day doesn’t seem like a harsh plan of action.
Why?
Triguboff believes that keeping an unhappy person on the team does both parties a disservice. Neither the person nor the company is getting anything out of the relationship.
According to Triguboff, the person would be better off finding somewhere else where he can be happy.
Furthermore, keeping an unhappy person can pull the rest of the team down. It breaks up the harmony of the group and could eventually affect productivity.
If you’re the unhappy person on your team, it’s best if you find somewhere else where you can be happy. There’s no use continuing in a position you don’t want to be in.
Alternatively, if you have an unhappy person on the team, it may be time for them to work elsewhere. They’re not motivated to give you the best performance. And they’re not getting anything from the job.
#6 – Believe Demand Will Continue
Harry Triguboff also knows the power of belief. And he isn’t talking about religion.
He landed in Australia without his parents at 14-years-old. Through many twists and turns, he finds himself one of the most influential billionaires of the Australian landscape.
How did he do all that? Belief.
He says, “You have to believe that demand will continue, no belief means no success.”
And he should know. He’s faced countless challenges over the years. In a property market that valued single-family homes, he chose to go a different route.
#7 – Have Patience
While we’re on the subject, another virtue that Triguboff believes is important to success is patience.
Nothing happens in a matter of minutes. Each step takes time. If you’re in for the long haul, you can wait for your patience to pay off in the end.
Remember that impatience can lead to mistakes. So get into the mindset to go with the flow of the business. Some stages simply take more time than others.
#8 – Go Slowly
The high rise king also cautions younger developers to go slowly. You’ll get the financing when the banks believe that you can do what you set out to do.
According to Triguboff, “You will get the finance, provided you are not developing before trotting. You have to go slowly; you will get the finance when the bank is convinced you can do it.”
#9 – Don’t Skimp on Quality
When Harry Triguboff entered the developer arena, Australia had different demands. Most developers were building cottages in the 1960s.
But Triguboff had a different vision. He defied the trend and changed Sydney’s property market.
His motives were simple, though. Apartments were more affordable than the detached houses of the time. And people were happy to buy them even though they weren’t popular at the time.
But he didn’t skimp on quality.
Yes, his apartments were more affordable than the cottages on the market. He knew people would buy them, but he also knew they wouldn’t buy anything substandard.
Maybe you’re tempted to charge less and reduce quality to remain competitive? That would be a mistake.
Triguboff’s built an empire out of meeting the demands of the market, and his heartfelt advice is to offer quality. Without it, he says, you won’t succeed.
#10 – Use Money Properly
What is the purpose of money? Do you use it to make yourself happy? Or others around you?
High Rise Harry says he’d rather be at work than spend money. He explains that he doesn’t spend much. But when he does, he uses it very well.
What does “very well” entail? According to Triguboff, the purpose of money is for the benefit of those around him and himself.
What do you spend your money on? You may find yourself splurging every dime you get. Or you may save every penny for a rainy day.
Both extremes may not be beneficial for you. Instead, take a page from Triguboff’s philosophy. Money is a tool. So make sure when you use it, you use it properly.
#11 – Earn More Money to Do More Good
Can money make you happy? Triguboff believes it can. But maybe not for the reasons you may have in mind.
He does believe that people who say money doesn’t bring happiness are stupid. However, he’s not talking about money for the sake of splurging on himself.
You see, he says the more money, the better – but it’s for the benefit of others. That’s right. The more money he has, the more apartments and homes he can build for others.
And that equates to him helping anyway he can in the form of quality properties.
Here’s the moral of the story. Money can make you happy if you derive happiness from altruistic activities.
#12 – Start Off Small
Do you think you need to go big or go home? Triguboff believes the exact opposite, and he speaks from experience.
In his younger days when he first arrived in Australia, he had a few hits and misses. He bought into different businesses. But they didn’t take off.
He ran a small fleet of taxis. Also, he had a milk run. Triguboff even tried selling real estate.
“I think I was the world’s worst salesman, but I was the best pupil,” he admits.
That is until a builder friend of his asked him about developing. His friend suggested small developments, so that’s what he did.
And it worked very well.
It also got the ball rolling for his eventual career. As his first small development finished, he was ready to move onto the next new thing. He’d already bought 2 additional sites to start new projects.
You see, he started small at first and built from there. He kept his focus and added to it as he was able.
#13 – Protect Your Health
What’s your biggest form of wealth? It’s your health.
Health is important at any stage of your life. But you may be letting healthy habits slide in favour of getting your business off the ground.
However, that all changes once you start making money. You need to be able to keep up with the high pace of your business. In order to do that, you need to be in optimum health.
The Takeaway
Harry Triguboff is a visionary who changed the Sydney property landscape. But he didn’t do it right away. He took it slow and persevered through adversity to be the billionaire he is today.
High Rise Harry is an inspiration to aspiring business owners in any industry. So it should come as no surprise that you could learn a lot from his experience.
Just remember that you have to love what you do and be good at it and willing to work for it. His vision for property development was ahead of the times. But that didn’t stop him from working away.
Finally, remember to start off small. Harry Triguboff started with one small development at the suggestion of a friend. After that, he built it into two more.
Now, 55 years later, he has a business empire that many thought wouldn’t happen.
Where will your ideas lead you if you start off small and keep your focus?
At CUB our ambition is to unite those who are changing the world through their businesses. We support these people by building a private community of Australia’s next titans of industry. And we bring these titans together to accelerate the achievement of each other’s ambitions.
If you wish to be considered for membership, please feel free to request a club introduction on our membership page: www.cub.club/membership
https://www.sbs.com.au/news/day-one-stories-how-a-migrant-made-his-mark-on-sydney-s-skyline
