There's nothing sexy about the formula that turned John Caudwell into a UK billionaire. No wild gambles, no overnight success stories, no dramatic pivots. Just a mobile phone retailer called Phones 4u and a whole lot of grinding.

"I've been able to work very long hours my entire life," Caudwell explained in a recent appearance on the Simon Squibb YouTube channel. That's the headline, really. But behind the unglamorous reality of long hours lies a more nuanced strategy that helped propel him to the top of the UK's wealth rankings.

While his commitment to business was certainly foundational, Caudwell shared several other habits that quietly powered his success from behind the scenes.

Take Calculated Risks

Here's where it gets interesting. Caudwell might live a boring, routine-driven lifestyle, but he's not risk-averse. He actively seeks out new challenges and maintains what he calls an adventure mindset, which he views as essential to a fulfilling life.

"It's almost the elixir of life," he said about approaching business with that adventurous spirit.

But there's a crucial distinction here. Caudwell doesn't jump into new ventures just because they sound exciting. He analyzes every opportunity, runs the numbers, and makes informed decisions. That transforms what could be a reckless gamble into a calculated risk worth taking.

"Too many people take risks that are not likely to pay off," he warned.

It's about finding that sweet spot between playing it safe and betting the farm on a hunch. Do your homework, understand the downside, and then take the leap if the math works.

Build A Circle Of Excellence

You could theoretically take calculated risks and embark on solo adventures by yourself, but you'll achieve far more with the right team around you. Caudwell calls this building a "circle of excellence" around your business, which means aggressively recruiting and retaining top talent.

"Look for somebody that's better than you," he advised during the interview.

Now, before you spiral into impostor syndrome, Caudwell clarified what he means. You don't need to find some superhuman who outperforms you at everything. Instead, focus on finding specialists who excel in specific areas where you need help.

Let's say you're decent at creating marketing campaigns, handling sales calls, and managing email correspondence. Finding one person who crushes all three of those tasks better than you might be impossible. But finding three different people who each specialize in one of those areas? That's totally achievable.

The key insight here is that being a generalist is fine for you as the founder or leader, but your team should be packed with specialists who bring deep expertise in their respective domains.

Maintain Good Physical Fitness And A Healthy Lifestyle

Caudwell returned to this theme multiple times throughout the conversation, treating fitness not as a nice-to-have but as a fundamental business requirement.

"You can't make money without health," he stated bluntly.

He then got specific about the risks of neglecting fitness, noting that a larger waistline directly correlates with increased heart attack risk. But he also highlighted the upside: intense workouts boost your VO2 max, which is essentially a measure of how efficiently your body uses oxygen.

"VO2 max is probably the single most important measure of longevity," Caudwell explained. "If you can increase your VO2 max, you can live longer."

And here's the good news for those of us who don't want to spend half our lives at the gym: you don't need to work out constantly to see benefits.

"Fitness gives you VO2 Max if you do it properly," he continued. "If you exercise at a huge intensity only maybe twice a week for half an hour each time, that increases your V02 Max."

That's just one hour per week of genuinely hard work, and you're extending your lifespan while improving your daily performance. For Caudwell, maintaining this level of fitness allows him to sustain those very long working hours that first put him on the path to becoming one of the UK's few billionaires.

The takeaway? Building wealth might require sacrificing some excitement in your daily routine, but the formula is refreshingly straightforward: work hard, think carefully before taking risks, surround yourself with people who are better than you at specific things, and take care of your body so you can actually enjoy the money when you make it.