How To Become A Billionaire?
Whom this article is for:
This article is for:
- Specifically for the students who're in college or who've just passed out from college and started their job.
- The people who've already started taking action to become financially independent.
- Those who've sufficient time and energy to follow the rules established by financially successfully people.
- Those who've some money to start with in order to take actions or follow some procedures.
- This article is not for the people who want to become rich just by reading this article.
What this article contains:
This article contains some case studies done on successful people/tips by them for how they reached their position in the market. Also, it contains some of the innovative approaches used by people to become rich in 21st century. It doesn't ensure that you'll become immensely rich if you follow the article. It's just supposed to bring efficiency in your approach to towards the goal.
Brief Summary for the article:
- According to the study performed on several rich people, becoming rich is a journey rather than a destination. It requires you to take actions that normal people may avoid or tell you to avoid as these are not meant for everyone.
- According to the books written by financially successful people, you need to make change in your attitude towards life, if at all you want to pursue this journey.
- You're not supposed to follow all of the given points. You just need to take these one by one and try to implement in your daily endeavours.
The Learning's from the book 'Rich Dad Poor Dad':
Read the book “Rich dad, poor dad”. It has all the necessary things to make you start thinking like a millionaire. Once you become a millionaire then start thinking about becoming a billionaire. If I sum it up in some lines:
- Start taking risk or rather learn how to manage risk.
- Make money work for you. Yes, statistically 97% of the world works for the rest of 3%. And, all of the rich people belong to these 3%.
- Start how to earn while you're still young.
- Be as different and innovative as possible. The world is full of people who're blindly following others.
- Fail a lot. This is the golden rule. Those who fear to fail never know what it takes to succeed.
- Be a "Jack of all trades". It means have diverse source of incomes. It assures you earning even when some of the sources fail. Its also called horizontal approach.
- Learn stock market and investment tips. It will do sufficient to cover several of the above points. Make sure you start small and invest only the amount you can afford to lose.
- Read the stories of billionaires. It'll inspire you to take actions.
Earning Using Internet:
- Internet is a great way to earn smart and fast these days. Choose any of the path like creating apps, videos, content, website etc. and don't stop until you reach the rare 5% who earn sufficient on internet. You may need to spend a lot of time and analysing your effort time and again to see if your direction is right.
- Work for a startup of your interest. It will help you understanding that field and later you can start your own. Create something that solves an inherent problem in the society. It ensures the success of your startup sooner or later. Drop me a mail on saggy22108906@gmail.com if you need some good unique business plans.
- Learn drop shipping. Its the smartest way to do e-commerce business in the 21st generation.
- Start freelancing. It has immense opportunities despite of which part of the world you stay in. Your first assignment can take 2-3 months of effort but then that's the only milestone you need to cross to earn tremendous.
- Another smart way is to publish an e-book and sell on the popular platforms. Also, you can set up your own website to sell your e-book.
Pitch Your Ideas to Established Companies:
- Its a relatively new trend to implement your ideas with reduced risks. All you need to do is:
- Create a business plan or product.
- Find a company you're interested in and keep pitching your products or services until they're ready to buy your product. Remember you need to develop a connection first in order to sell your product.
- Sign a contract with the company so that they can't cheat on you later. Still its on you to secure your idea from getting stolen.
Indulge into Research:
Google was the Ph.D. project of Larry Page and Sergey Brin. Its sufficient to make you understand the value of research.
WWW was another research project that was done to connect locations in a city.
File a lot of patents and whenever any of these are used by anyone you become rich pretty fast.
Learn saving tips from Warren Buffet:
This great man has helped the giants like Bill Gates by his money saving tips. According to him:
- Never lose money. "Rule No. 1: Never lose money. Rule No. 2: Always refer to rule no.1 in case of any confusion.
- Get high value at a low price. "Price is what you pay, value is what you get,"
- Get into healthy financial habits.
- Have lots of cash available.
- Invest in yourself.
- Set long-term goals.
Tweak Your Life:
- You need to follow a disciplined schedule so as to take the actions required.
- Follow the principle of 80/20. The principle applies in almost all the sections of our life.
- Work 80% of the time and spend 20% of the time recreating so as to ensure you don't get bored.
- Only 20% of your friends are worth of your time. So get rid of those you don't need. This doesn't mean that you should become selfish. It just ensures that you're spending your time wisely.
- Get rid of your smartphone while you're working. It can drastically improve your performance.
- Delete your accounts from all the social media websites. These unnecessarily take your time and drain your energy.
- Try to shift to a developing country if possible. It opens an immense sea of opportunities.
Follow your dreams: You need to work on either these 3 things or 1 thing that contains all these 3: interest, opportunity and skills.
You need to satisfy all 3 of the above circle if you need to get far in life. If you can't get all the 3 in any one activity, simply pursue a group of activities that satisfy all the above needs. Then, all you need to do is just manage your time in these activities.
Decide to try/fail at least once a day. Once you’ve failed 365 times you’ll no longer fear from failing and that’s when you’ll no longer need to motivate yourself.
Some best tricks that the great personalities follow:
- Wake up one hour early, live an hour extra.
- image source: http://yourstory.com
- Watch motivational video daily: Motivation is a daily thing. Everyday you need to find one source of motivation.
- Have an aim: Once you’ve an aim, your mind will automatically start working towards it. All you need to do is provide yourself a working environment.
- The concept of median of 5 people: All you need to do is find 5 people whom you’d like to get surrounded with. Once you’ve found those, try to stay with them as much as possible.
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