Billionaire Tilman Fertitta shares his top secrets for business success

Billion Dollar Buyer: This was the absolute key to my success
Billion Dollar Buyer: This was the absolute key to my success

Some business lessons can't be learned in school.

For billionaire Tilman J. Fertitta, host of CNBC's "Billion Dollar Buyer," good business means good people skills.

"People want to be led, but you've got to know how to lead different people," said Fertitta, a hospitality mogul who owns restaurant powerhouse Landry's and Golden Nugget Casinos and is worth an estimated $3.2 billion.

The key comes down to reading people's personalities.

Is an MBA really worth it? This billionaire has your answer
Nate and Vanessa Quigley, co-founders of Chatbooks
This biz bounced back from near failure to sell over 1 million products
Bill Gates and Warren Buffett.
10 traits rich people have in common

"You can't treat everybody the same," he said. "I treat everybody differently depending on how I've evaluated that person. And if you do it that way in business, you're going to be a lot more successful."

His other big pieces of advice?

Don't give up too soon, and make sure to know every number involved in your business.

Related Video