My name is Evan Carmichael and I believe that the fastest and most effective way to build a business is to model the strategies of people who have already successfully accomplished what you’re trying to do. I call it Modeling the Masters. My last post was: Top 3 Lessons from Akio Morita (Sony Founder)

Today I’m going to focus on how you can model the success of CNN founder and billionaire entrepreneur, Ted Turner.

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“You can never quit. Winners never quit, and quitters never win." - Ted Turner

Robert Edward "Ted" Turner III (born November 19, 1938) is an American media mogul and philanthropist. As a businessman, he is known as founder of the cable news network CNN, the first dedicated 24-hour cable news channel. In addition, he founded WTBS, which pioneered the superstation concept in cable television. As a philanthropist, he is known for his $1 billion gift to support UN causes, which created the United Nations Foundation, a public charity to broaden support for the UN. Turner serves as Chairman of the United Nations Foundation board of directors.

After being expelled from University and divorced by his wife Turner's life took a turn for the worse when his father killed himself. Only 24 years old, Turner took over the family business, an outdoor advertising company that was deep in debt. Nobody believed he could turn it around.

Seven years later, Turner Advertising was the largest advertising company in the southeast. Turner then put his attention to television creating Turner Broadcasting Station (TBS) and Cable News Network (CNN), the first all-news cable network. Initially, CNN was not well received and it struggled to turn a profit for its first five years.

As of August 2010, CNN is available in over 100 million U.S. households. Globally, CNN programming airs through CNN International, which can be seen by viewers in over 212 countries and territories. Called "Terrible Ted", "Captain Outrageous", and "The Mouth from the South", here are three action items you can implement in your business from Ted Turner.

Action Item #1: Don't Surrender

Every entrepreneur will at some point face moments of doubt with their business. Is it worth all the effort and long hours? Should you keep doing this even when people around you don't believe in your business?

Here's Ted Turner's advice: “All my life people have said that I wasn’t going to make it. They laughed at me when I started with CBS. They laughed at me when I started CNN. They laughed at me when I bought the Braves. They laughed at me when I bought the Hawks. They laughed at me when I bought MGM."

“You can never quit. Winners never quit, and quitters never win... Watch me. I’m like a bulldog that won’t let go... Why do you think my own racing yacht is name ‘Tenacious’? Because I never quit. I’ve got a bunch of flags on my boat, but there ain’t no white flags. I don’t surrender. That’s the story of my life."

Action Item #2: Set Goals Beyond Your Reach

Take a look at the goals that you've set for yourself. Are they motivating? Does reading them over get you excited to start the day and get to work? Running a business can be a grind and it's easy to get  lost in the day to day activities and lose sight as to why you started the business and what your bigger picture is.

Aim high with your company. Have an ambitious vision that will inspire you and the people around you to give their very best. Employees, suppliers, customers, the media, and investors all want to be a part of a business that is going to change the way we live and work. Be one of those companies!

According to Turner: "I like to do things that are bigger than me... You should set goals beyond your reach so you always have something to live for... Do something. Either lead, follow or get out of the way."

Action Item #3: Work Like Hell

Nobody will tell you that starting or running a business is easy. Successful companies are created by an entrepreneurs who are passionate about making a difference in their industries. They put in the time to make a unique product or service, market it effectively, overcome the hurdles that are put in their way, and eventually achieve success. You have to be smart about how you work but you also have to work hard.

Ted Turner is an admitted overachiever and a workaholic. He frequently put in 18 hour workdays, slept most nights at CNN headquarters, and CNN staff regularly saw him leave his office to grab a cup of coffee in his bathrobe. Staff regularly worked six or seven days a week alongside Turner, with one worker claiming, “[Turner] was much more than a cheerleader. He was the kind of guy you’d want to run through a wall for.” Acknowledging that “the best way to lead is by example”, Turner inspired his staff to work just as hard as him to achieve their common goal.

Here is Turner's final piece of advice: "CNN came out of my heart and soul. In 20 short years, by all the surveys, we became the world’s most respected news source. The New York Times had been there for 100 years. We did it in 20... Early to bed, early to rise, work like hell and advertise."

True Story

Turner is a well known philanthropist  and has committed many of his assets to environmental causes. In addition to his $1 billion gift to support UN causes, he owns more land than any other American and uses much of it for ranches to re-popularize bison, amassing the largest herd in the world.

Do you have a story of not quitting and achieving success? Have you set goals for your business that are purposely beyond your reach? What part of Ted Turner's message impacted you the most? As always, I’ve love to hear your thoughts if you leave a comment below!

Evan Carmichael

To learn more check out my list of Ted Turner articles or my website, EvanCarmichael.com.