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What it takes to become a billionaire.

created Jun 8th 2021, 15:16 by homies


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441 words
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You're likely asking yourself what it takes to get rich. But not just rich. Rich at the highest level. How do you go from broke to billionaire? Most people might simply want to have positive cash flow or even a million dollars in the bank. But does a million dollars really cut it these days? I suppose that depends on where you live and what you do.
 
But billionaires are a different breed. It's a different world. Spending time with them is more likened to fabled fantasies rather than actual reality. The world truly is their oyster. Now, if you want to get there, or you're just looking to become a multi-millionaire, there are some strategies that will propel your growth.
 
In fact, there are five strategies these billionaires have used to go from broke and hopeless, to absolutely on top of the world. If you’re looking to replicate their success, then you need to heed the following strategies and take them to heart. One other thing to keep in mind is that you're far less likely to attain this type of success without owning your own business.
 
But if you're already an entrepreneur or a business owner, then it's a matter of adapting. Not only do we adapt to survive, but we must also adapt to thrive. Look at the following strategies and see how you can adapt them to your business, or to potentially pivot your business to strike while the proverbial iron is hot in one sector or another.
 
Most people think that it's impossible to go from broke to billionaire. But it's been done repeatedly. Individuals including Roman Abromovich,  Francois Pinault, Howard Schultz, Oprah Winfrey, Shahid Khan, Do Won Chang, Ralph Lauren, John Paul DeJoria, Larry Ellison and Mohed Altrad were once flat broke. But they all became billionaires.
 
How did they do it? First, and foremost, by harboring the following skills. And second, by wielding one of the five strategies that you'll find below. As you read the list and the strategies, ask yourself the following question. How many of these skills am I employing and how can I adapt these strategies to my business today, right now?  
 
Leverage an abundance mentality and laser-focus your mindset
Become an expert at business networking  
Overcome the often-stifling fear of failure  
Effectively manage your time
Create long-term goals and take daily action towards them
Never give up no matter how tough things might be
Focus the power of your thoughts on the positive over the negative
Never look for shortcuts or try to cut corners
Understand the underlying principles of sales and marketing
Become a fervent brand-builder  
Related: Quiz: Which of These 7 Personality Traits Do You Share with the World's Richest People?
 
1. Create something that adds an abundant amount of value to the world.
Today, as it's been for all our recorded history, getting rich entails building and adding an abundant amount of value to the world. The richest and most successful people have added the most value. That's how real wealth is attained. Find some way that you can add an excessive amount of value to the world. This is not a short-term strategy. This takes time.
 
But it also involves seizing opportunities as they arise. Patagonia founder Yvon Chouinard got incredibly rich not by inventing new products, but by improving on existing products. While Patagonia is a giant clothing retailer today, at the age of 50, Chouinard's company went bankrupt after the fallout from a series of lawsuits.
 
However, Chouinard stayed the course. He added value. Improved on iterations of products to make them better for the environment, longer lasting, and higher in quality. That's how Patagonia grew into a behemoth. He added an abundant amount of value.

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