What are they like? What sets a billionaire apart from average people? Those that achieve truly unprecented success usually share a few common characteristics about how they approach their work and their lives.
Here are 12 Steps on how to develop a billionaire mindset.
In life we all struggle and strive to make progress. When will you know you’ve reached success? A billion dollars is a clear sign, but there’s a better one–humility. You know you’ve reached true success the day you become truly humble. That’s the day you stop needing to prove to the world–and yourself–
that you’ve accomplished something meaningful. If you have even one ounce of arrogance left, you still have a ways to go. Focus on living a life of significance beyond just being financially successful.
2. Invest in Yourself
This is a very simple concept, but something you would think someone who has “made it” would stop doing. Billionaires spend a significant amount of time
dedicating their resources to self-development (whether it be a new language, exercise, social media classes, etc.). The moment you stop investing in
yourself is the moment you have written off future dividends in life.
3. Obsession over passion
Maybe you’ve heard that success takes passion. Being successful in life is not about passion; it’s about being obsessed. If you can sleep well, that’s not
the sort of obsession I’m talking about. If you have to get up on stage and tell someone ‘I’m really passionate about X’, it’s too late. People have to tell
YOU that you’re obsessed about something. When you speak they can feel the sheer confidence in your voice.
Here are examples of how a billionare thinks:
Bill Gates : “I failed in some subjects in exam, but my friend passed in all. Now he is an engineer in Microsoft and I am the owner of Microsoft.”
Thomas Edison: He was a “virtual thinking machine. Almost until the day he died, his mind poured forth a torrent of ideas, and he might track as many as 60
experiments at a time in his laboratory.”
Steve Jobs: He bombarded people with his ideas – his investors, his board of directors, his customers, his subordinates, and his CEO John Scully.
Henry Ford: “He threw himself into every detail, insisting on getting small things absolutely right…. But he never lost sight of the ultimate, overall
objection. He had a vision of what his new car (the Model T) should look like. From all the improvisation, hard thought, and hard work came a machine that was at once the simplest and the most sophisticated automobile built to date anywhere in the world.”
4. Surround Yourself With “Better” People
Keep extremely talented and valueable people in your inner circle. You must be able to build dream-teams at each and every given opportunity. Have an expert at your side for every single portion of your business. Jim Rohn had it right, “You are the average of the 5 people you spend the most time with.”
5. Pay attention to small details
To get from a crazy idea to a billion dollars, not only do you have to be obsessed but you also have to believe that no detail is too small to deserve your attention, because more often than not, especially in the early-stages of building a business, companies fail because you missed some small detail. They rarely fail because you missed the big picture.
6. Understand The Power Of “Leverage”
A billionaire appears to be someone who is a master at everything. But, in truth, they’re specialists in one or a few areas and average or subpar at everything else. So, how do they get so much done? Leverage! They do what they do best and get others to do the rest. They use OPM (other people’s money) for most or all of their projects.
7. Take Enormous Risks
This is another one of those successful habits every entrepreneur can attest to. A matter of fact, Entreprenuer.com created a great infographic outlining commonalities of the world’s billionaires and one of the most prominent was this characteristic: a billionaire is not adverse to risk. What intriguing even more even at their high financial status and success level, they still possessed a willingness to risk their most precious asset (their name and legacy) on new and bolder projects. If you’re not taking risks, you’re not making moves!
Ever heard of the saying, “Patience is a virtue?”. A billionaire realize nothing happens overnight. As a matter of fact, it takes most billionaires decades to become successful. While patience is used for their long-term goals, not neglecting any deadlines for day-to-day, short-term goals. Being nimble and having the ability to deliver faster than your competitors is what often makes the difference between success and failure.
The higher your heights, the greater number of haters you will have AND the sharper their attacks will be. This is a basic truth for every billionaire, literally watching thousands of people hurl insults at them (without impact) will make you realize they possessed an extraordinary layer of emotional resilience. Developing a “bulletproof mindset” is critical . First Lady Michelle Obama said it best: “never let what somebody else says distract you from your goals. And so, when I hear about negative and false attacks, I really don’t invest any energy in them, because I know who I am.”
10. Be World Class at ‘One Thing’
By focusing on one passion or strength, you can actually be more innovative. The deeper understanding you gain by doing one thing opens up creative new ideas. Ironically, limitations can lead to liberation. As mentioned earlier billionaires, aren’t necessarily great at many things, but they’re damn good at (at least) one.
11. Always grow your network
Developing a relationship with influential people will provide you with guidance for making decisions and solving problems. When you connect with these individuals, you can draw upon greater wisdom to help you resolve your problems. Be mindful of developing and nurturing relationships with more people. Adapt a ‘give before receiving mentality”.
Ask any 10 people to describe billionaire, and I bet words like “tenacious” and “relentless” top the lists. Billionaires don’t let obstacles or pitfalls keep them from achieving their goals. Just because you fail 100 times, doesn’t mean you can’t succeed on the 101st try . The key is not just having the stomach for failure, but having the strength to face what feels like an endless amount of resistance… and still move forward.
Read more at : www.iandelacruz.ca
Author: Ian Dela Cruz
Mentor to High Performance Entrepreneurs| Speaker | Investor | Publisher & CEO of Tease Lifestyle Magazine