EIL15: Achieving the American Dream with Self-Made Italian Billionaire and Philanthropist Tom Golisano

Tom Golisano is an entrepreneur, philanthropist, and civic leader who founded and served as the Chairman of the Board of Paychex, Inc., a leading national provider of payroll, human resource, and benefit outsourcing solutions for over half a million small and medium-sized businesses. He has been consistently recognized by the business, financial and national media and has donated approximately $300 million to various charitable causes and institutions. He was also notably the former owner of the Buffalo Sabres of the National Hockey League. His commitment to helping those with intellectual disabilities, Western New York, and the region's economic climate will leave a lasting legacy.

Does the American dream still exist? Is it really possible to realize the dream of becoming a billionaire in a lifetime? The skeptics say it's no longer possible. It's just a dream. Let's listen to Tom Golisano, the Italian kid who started with $3,000 and founded and developed Paychex, which allowed him to become a billionaire in one generation. 

Tune in for a chock-full of nuggets for current and aspiring entrepreneurs on how to start, grow, and operate a successful business.

Why you have to check out today’s episode

• Learn the background of Paychex and how Tom grows it one partner and franchise at a time

• Reveals the secrets behind much of Golisano’s success and teaches you how to apply those same success-hacks to your own life.

• Emboldens you to see the world differently in terms of what’s possible despite what others may have you believe.

• Entertains and enlightens you along the way, with Golisano’s stories of running for Governor two times, purchasing a failing NHL franchise, the Buffalo Sabres, and dry sense of humor throughout.

“The biggest thing we did was to have great people working for the team, good people who knew how to do the job and I'd let them do the job.” - Tom Golisano

 

Topics Covered:

 

01:30  Tom explains the double meaning behind the title of his book—The Italian Kid Did it.

03:10  Can the skeptics still count on the American dream and the possibility of becoming a  billionaire?

06:54  Talks about what it takes before Tom sees Paychex succeed

07:44  The challenges Tom faced in expanding his business and how he turned golf buddies into bosses

09:49  The next steps in Tom's business journey

10:34  Tom discusses the main motivator that propelled his success

13:05   The motivation behind the book—The Italian Kid Did it

15:23   Find out about Tom’s professional sports journey

16:45   Advice to those who are looking to create a professional sports team

18:00  Tom’s insight on addressing the crisis leadership situation in America’s political system

19:33  Three things Tom would like you to get from his book—The Italian Kid Did It

 

Key Takeaways

 

Because of technology, there are a lot of opportunities out there, you've gotta find it, you've gotta look for it.

Some people would admit that the turmoils or difficult situations have a great effect on their life. That applies to me too.

I just wish our people in governmental positions would try working together for once instead of working against each other. 

People/Resources Mentioned

• Built not Born Book: https://www.amazon.com/Built-Not-Born-Billionaires-Entrepreneurs/dp/1400217555

• The Italian Kid Did It: How I Turned $3K into $44B and Achieved the American Dream
  https://www.amazon.com/Italian-Kid-Did-Achieved-American-ebook/dp/B09831XR9J#:~:text=Watching%20his%20father%20struggle%20to,sway%20your%20view%20of%20reality.

• Paychex: https://www.paychex.com/

Connect with Thomas Golisano

• Website: http://tomgolisano.com
• Twitter: https://twitter.com/ThomasGolisano
• Facebook: https://www.facebook.com/thomasgolisano/
• Instagram: https://www.instagram.com/tomgolisano/
• LinkedIn: https://www.linkedin.com/in/tom-golisano-94937919a/

 

Connect with Dr. Katrina Burrus 

• LinkedIn: https://www.linkedin.com/in/katrinaburrus/  
• Website: https://mkbconseil.ch/contact/