This post has been heavily influenced by Investopedia's post on a similar topic, visit their page after reading this post.
Everybody wants to become a billionaire but many fail to do so. Those who achieve this find success through economic advantages or develop their creativity etc.
Those who don't achieve these often rush success or don't have a long-term plan. Becoming a billionaire requires you to either invent something new or do it better than anyone else. Getting this done needs an almost insane amount of discipline and willpower but it's not impossible. Don't want to be one of the many who fail? Here are some specific do's and don'ts to becoming a billionaire.
Do: Innovate
Finding a creative way to improve an already existing product or creating your own.
Successful innovators find out the needs of customers and develop a smarter and more efficient way to satisfy them more than other competitors. Another way successful innovators succeed is by making a business that works differently enough from the rest that it stands out.
Don't: Think You Know everything
When you think you know everything, you kill your potential for what you could have become. You need to have an open mind with curiosity at all times. Willing to learn from anyone that has something to offer, only in this way will you be able to see what others see as old in a new way.
Do: Invest
Although investment requires a little money to start, with accurate insight into smart investments, you too could find yourself with full pockets.
Don't: Give Up Too Soon
Come to realize that overnight success is rare, and you must be patient. This business idea may not be successful but the next might. Time is on your side if you don't rush it.
Do: Be An Entrepreneur
Making a business that you've built successful is by no means easy. This is for those with good business sense and the ability to spot potential in a start-up.
Billionaire entrepreneurs work by coming up with their business idea and carrying it to the top or by spotting a good idea and investing in it early on.
Don't: Make Risky investments
Most would-be billionaires make the mistake of investing in the next big thing that doesn't turn out to be so big. Avoid the flashy, high risk and fun investments and rather choose investments with long-term potential that provide great returns. Boring investments like real estate, energy, and pharmaceuticals are examples of investments that can make you a billionaire.
Do: Invent
If you think you have the smarts to give the people what they want, in a way that beats your competition, then this is the way. Realize that successful inventions don't always need to be complicated.
How Can I Become a billionaire?
It's not easy to do this, but you have no limits. You need to learn different skills and have patients. The only other way to become a billionaire is by inheriting it . Chances are, you don't have that option, but try your best to give your children that option.
Who Was The First Billionaire?
John D. Rockefeller is the first Billionaire as reported in 1916. John D Rockefeller was the top oil tycoon of the 19th century, and his savvy business decisions made him tremendously wealthy.
Who Will Become The First Trillionaire?
There are 21 individuals who stand a chance of reaching this phenomenal milestone in their lifetime, Elon Musk is predicted to be the first. When the first billionaire was announced in 1916 this colossal figure must have seemed even more unreachable than it is today.
Conclusion
Everybody wants to become a billionaire, but only those with enough discipline, patience and willpower will pull through. It won't happen overnight, but work for long enough and you'll find your pockets tearing open from the weight of your wealth.
“No one was born to be poor, but we all born to be rich. Yes we all born with brains and talents.”
— Sipho P Nkosi
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