When mediocre see the word BILLIONAIRE’, they could only wish and hope to become one. The word IMPOSSIBLE’ is sub consciously rooted in their mind when they thought of becoming a billionaire. How will anyone become a billionaire when he thinks that he would never be one?
1. Mindset
Developing the right mindset is the very first step to becoming a billionaire. What is the right’ mindset? Napoleon Hill’s book on Think and Grow Rich’ is one of the examples of getting the correct mindset of a billionaire. Knowing that you are unique can bring you to a greater height at a faster pace. Billionaire do not think that they would just do anything for the seek of becoming a billionaire. They do things that make their feel great. They know what they are best in, and look forward to everyday to serve with their skills and knowledge. They enjoy doing the business they are in. And with a focused mindset, they see obstacles as challenges for them to overcome and never stop moving on. And most of all, they welcome success and dare to be different. Hence, they have a different income.
2. Habits
Each of us has only 24 hours everyday. Everyone has their own way of using it. What you do everyday, become your habits. Steve Covey’s book on The 7 habits of highly effective people’ has discussed on being proactive, beginning with end in mind, putting first thing first, think win-win, seek first to understand, synergize, and continual improvement. These habits are the basic of becoming a billionaire. In addition, each billionaire has a unique habit of their own which distinguish them from the rest. For Donald Trump, he does his business mostly through phone calls, and Bill Gates has a habit of reading. Their habits are often closely linked to the revenue they would be getting.
3. Savings and Investment
How much you earn does not necessary be how rich you would be. A guy earning $5k/month spent on his luxury house, cars, and lifestyle at $4k/month would only left him with $1k/month. However, another guy earning $5k/month but keep aside $1k/month as saving and uses $2k/month as investment would have $2k to spend every month. In the long run, the latter guy would be able to generate a passive income that would be able to build a larger fund for his future. It would be better to set aside 20-30% of your income as saving and distribute the rest for other purposes. The reason for Warren Buffet to become a billionaire is due to his far-sighted investment and saving habits. Always know how to dissect your income.
4. Work hard
Money does not fall from the sky. Every billionaire in the world works everyday. They work long hours like the mediocre. The only difference is that they enjoy what they are doing not because of the money they generate, but the satisfaction from the work they do. Working hard in the area where you have passion in would bring you good income. Work towards the goal of becoming a billionaire.
No one becomes billionaire overnight. Believe in yourself, be different and daring, and not afraid of meeting with obstacles would bring you closer to becoming a billionaire. Becoming a billionaire is not a dream, but a reality that is surpressed by ourselves.