Sharing one of my favorite blog post from businesstips.ph
You’ve probably asked yourself how to be a billionaire. Perhaps, you’ve already read tons of articles about the ways on how a person can become not only a millionaire, but also a billionaire. With the multitude of stories told on what to do to become as rich as Carlos Slim Helu, Bill Gates, Warren Buffett, Bernard Arnault, Larry Ellison and the rest of the world’s billionaires, I wanted my piece to become different among the rest. Specific steps and procedures can become too narrow that only few people can actually consider them applicable. On the other hand, too broad ideas and instructions can sometimes leave us confused. Furthermore, there are also quick techniques to riches but are actually bogus. Then there is also a scheme of investing your cash in stocks, mutual funds and other equities that can give you certain wealth but will only realize in the quite far future – a long process of waiting that might not make you a billionaire and enjoy your wealth while you’re alive. Thus, let’s make things more applicable, simpler, timely and real. If you want to be a BILLIONAIRE and be on the cover of the Forbes Magazine, let the following guide you to your will.
B – Brave. You need to have boldness to pursue your dream. Becoming a billionaire is a great goal. That is why you should not just have an ordinary courage, but an extraordinary courage. Be ready to take the risk and be prepared to suffer pain and hardships. Be bold in sacrificing your comfort and convenience. Be courageous in standing on your own feet. If you will ask me how to be brave, the answer would be… workout and train yourself, be stronger, be smarter and be confident. Remember that Bill Gates was brave enough to drop out his Harvard College in exchange of pursuing his passion – to startup the company of Microsoft.
I – Interest. A billion worth of money needs a lot of attention and concentration to realize. This is probably the reason why many of the world’s self-made billionaires chose to not waste their time and energy in the classroom, and instead give all of their remaining time in life to focus on their passion. The fact is… if you want to be one of the wealthiest people in the world, you’ve got to be one of the greatest people in the world. Thus, you must give your pure energy, devotion, and determination to become the best of what you do. So if your passion is in software programming, then do everything to become one of the best software programmers in the world like Bill Gates (Microsoft) and Larry Ellison (Oracle).
L – Lead. Billionaires are leaders: business leaders, industry leaders, political leaders and even spiritual leaders. They have armies; employees and a bunch of people following them. If you want to become a billionaire, you need to have the power to influence people. If you want to build a business empire that will give you billions of dollars, you should learn how to manage people. You must know how to lead and motivate your workers to become more productive. You must also learn how to deal with the behavior of your customers. Think of how Steve Jobs of Apple, Inc. lead the worldwide consumers into a technology revolution. Also, don’t forget to be successful in leading yourself. You cannot effectively lead others if you can’t even lead yourself.
L – Love. The greatest force that you can have to achieve even the most difficult goals of your life is love. Love gives you peace to have concentration. It gives you joy to have enthusiasm. It makes you truthful so you can buildup integrity, trust and good relations. Love transforms you to a selfless leader who inspires people. It also makes you a generous business person that satisfies customers. Love ties all your great qualities (i.e., diligence, patience, kindness and self-control) to work as one. But if you want to be a billionaire, you should not love money. Money is just a medium of exchange. It is what people will pay you for the good products or services you will provide to them. Hence, don’t love money, but put your love on good deeds.
I – Imagine. Self-made billionaires are people of imagination and invention. They are the geniuses that become the first to offer something very useful to the world. Think of the now billionaire creators of Google (Larry Page and Sergey Brin), eBay (Pierre Omidyar), Amazon (Jeff Bezos) and Facebook (Mark Zuckerberg). Also consider the inventors of Redbull, Dietrich Mateschitz and Chaleo Yoovidhya, who are both included in the Forbes list of the world’s billionaires. They got their wealth by bringing their brilliant ideas into a money generating machine. So if you want to find a billion dollar wealth, think of a billion dollar idea, then, execute it!
O – Optimize. If you have a talent and have found your passion, get the most out of it. Optimize your resources, especially your time. If you have money, you can buy the time of other people to help you – hire employees or outsource professionals. If you have friends and relatives, you can ask their time for free to help you. Time is gold, but it must be transformed to events to produce outputs. Hence, always keep on working and making yourself effective and efficient. So what do you believe you’re best of? Is it compute programming, writing and publishing, medicine or something else? Whatever it is, optimize it!
N – Note it. Remember the lessons you learn from your own experiences, from the teachings of your mentors, from the books and articles you read, from the stories you’ve heard from different people, and from the wisdom and insights you realize from your reflection. Take note of your mistakes in the past so that they won’t be repeated now and in the future. And if you want to be a billionaire, take note of the different strategies and techniques used by the world’s billionaires. They’re so famous that their biographies are scattered over the Internet. Be sure to take note also the important points of this article.
A – Assess. Billionaires aren’t only risk takers but they are also risk evaluators. They do not only estimate risks, but they also calculate their level of confidence and assurance. This assurance is what makes them brave, passionate and ready to sacrifice anything for the sake of their objectives. But also remember that a good assessment involves gathering of pertinent information and experimenting different assumptions. Remember that billionaires can be investors or inventors. Investors and inventors know how to do their lessons in Math. So if you hate Mathematics back in your school days, start loving now this subject.
I – Innovate. A billion wealth is quite a long journey to reach, especially if you will start from scratch. If you will start a company or an enterprise that will bring you great riches in the future, you should be innovative. The world is constantly revolving and people’s behavior is consistently evolving. Thus, you should always provide innovative products and services to your consumers, or else, your company will not survive in the long run – your business may not live until it becomes worth a billion. If you want to get an inspiration, just remember the icon of innovation, Steve Jobs of Apple, the maker of iPhone, iPad and other revolutionary products.
R – Regenerate. Rest, relax and recuperate. Productivity doesn’t mean we need to die working, but it means we need to get stronger, faster and better while working. What makes us stronger and better is the regular rests we give to ourselves. Short breaks make a person more efficient and productive. Just like when you are bodybuilding, your muscles aren’t actually become stronger during your workouts, but they become stronger during your recovery process. This is also the same with our brain… we cannot think more brilliant ideas when our brain is already exhausted. But try to have a goodnight’s sleep tonight – and tomorrow you’ll wake up in the morning with a stronger brain ready to come up with great ideas. Hence, give yourself the break it deserves, and also don’t forget to give your people a break they deserve after helping you out to carry on your business or organization. Don’t forget that the journey to billion is a long journey. Hence, don’t tire out yourself and your people without recovery.
E – Endure. With a billion worth of works to be done, you need endurance to accomplish them. However, you should always bear in mind that we should not just continue doing the hard things, but we should also continue not doing the easy wrong things. Endurance is not just about having the ability to bear the pain of hard working, but it’s also about managing and controlling oneself to avoid the vices that can keep us away from reaching our goals. If we will look into the stories of the people who become billionaires on their own (those who did not get their wealth from their parents or spouses), we will realize how they fall and rise and keep their feet standing until they reach success. So finally, if you desire becoming a billionaire, my last advice is… don’t quit!
Disclaimer: Following all of the instructions above doesn’t guarantee that everyone will become a billionaire. However, if you will follow all of them you can be a B.I.L.L.I.O.N.A.I.R.E.