5 Strategies These Billionaires Used To Get Rich

There are 2,043 billionaires in this world. About a quarter of them are from the United States. Millionaire? The number is about 16 million. Clearly, it is difficult to amass such a large fortune. In fact, when it comes to getting rich, a billion is an order of magnitude larger than he is a million. A millionaire is like a dime. Not a millionaire.

When a person can amass such immeasurable wealth, it piques the interest of our world population.Many of them are steeped in poverty rather than wealth. Does that mean you should be jealous or furious with people? Whether you are a victim or a defender of capitalist society depends greatly on your economic situation.

Some of us look down on those who have attained unimaginable wealth. Others, with envy. myself? I would love to know how they did it. I want to understand the workings of their minds. How did they achieve such sensational success? How did they avoid all the dangers and pitfalls that seem to engulf much of our civilization?

I have inserted myself by immersing myself in personal circles to specifically answer this question. Do you have a secret sauce? magic formula? Unknown principle or technology?

I would love to know how they do it, maintain it, and grow it. Making money is not as complicated as most people realize. Sure, there’s the so-called Guru Gauntlet that most people find themselves sacrificing when trying to discover the real secret to making money online these days. Not what I had.

I was interested in what moved the needle. How did the world’s billionaires become millionaires? How did they have such strong self-control? Read about the advice these individuals do We often hear speech, but most of the time it is heard from one ear to the other. Are we following much of that advice? It often falls on the roadside. We continue to live steeped in harmful habits that hold us back.

But before we dive into the strategies that a handful of millionaires have used to get rich, I want to give you one piece of very strong advice. Thoughts are things. Your thoughts have pure power. Use them constructively. They can either limit you or push you forward. Focus on the positive and good things will happen. Focus on the negative and watch your life spiral downwards.

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What it takes to become a millionaire.

You may be asking yourself what it takes to be rich. But not just the rich. Highest level lich. How to go from bankrupt to millionaire? Most people may simply want to have positive cash flow or a $1 million deposit in the bank. But does a million dollars really cut it these days?

But millionaires are a different kind. It’s another world. Spending time with them resembles a legendary fantasy rather than actual reality. The world is really their oyster. Well, if you want to get there, or just want to become a millionaire, there are a number of strategies that will help you grow.

In fact, here are five strategies these billionaires used to go from bankrupt and hopeless to completely on top of the world. You have to pay and keep that in mind. Another thing to keep in mind is that you are much less likely to achieve this kind of success if you don’t own your own business.

But if you are already an entrepreneur or business owner, it is a matter of adaptation. We must adapt not only to survive, but also to thrive. Take a look at the following strategies to see how you can adapt them to your business, or pivot your business to potentially attack when the iron is hot in one sector or another.

Most people think it is impossible to become a millionaire from penniless. But it has been done repeatedly. Individuals such as Roman Abromovich, François Pinault, Howard Schultz, Oprah Winfrey, Shaheed Khan, Do Wong Chan, Ralph Lauren, John Paul DeJoria, Larry Ellison and Mohed Altrad I was once penniless. But they all became millionaires.

how did they do that? First, acquire the following skills. Then use one of the five strategies shown below. As you read the list and strategy, ask yourself the following questions. How many of these skills are you hiring and how can these strategies be adapted to your current business?

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1. Create things that give rich added value to the world.

Today, as it has been since the beginning of recorded history, to get rich you need to build and add rich value to the world. The richest and most successful people add the most value. That’s how real wealth is achieved. Find ways you can add extra value to the world. This is not a short term strategy. This takes time.

But that also includes grabbing the opportunity when it arises. Patagonia founder Yvon Chouinard made his incredible fortune by improving existing products, not by inventing new ones. Today Patagonia is a giant clothing retailer, but Chouinard’s company went bankrupt at the age of 50 after a series of lawsuits.

But Chouinard stayed on course. he added value. He improved the iterations of his products to make them eco-friendly, long-lasting and of high quality. Patagonia has grown into a giant company. He added a wealth of value.

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2. Make consumables that people love.

There are many consumables industries that are taking off like wildfire. From cold brew to energy shots and drinks to e-cigarettes, industries are booming. Manoj Bhargava, the founder of 5-Hour Energy Drink, has grown from his 2003 startup to over $1 billion in sales nine years later.

In 2010, Howard Paynes was $600,000 in debt, lost his home to a short sale when he entered the e-cigarette industry, and within 18 months had more than $100 million in sales. A few years later, after a staggering exponential growth, Japan Tobacco International, a behemoth with 27,000 employees and his $20 billion in annual sales, acquired the company.

Paynes, who had no industry experience, did what it took to figure things out, like Vargava, traveling and living in Shenzhen, China, where the company has improved its product and delivery system. Today, an avid car collector with a collection of rare and exotic hypercars valued at nearly $15 million, Panes has become one of South Florida’s wealthiest residents.

Not only did it break once, but John Paul DeJoria, who was homeless and living in his car with his son, also did the unimaginable. He created salon-quality products and sold them door-to-door. He focused on quality and took action every day. At age 36, he took out a $700 loan to live with his son in his car while Paul Mitchell grew his Systems into a behemoth, making him one of the richest people in the world in the process. became a person

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3. Enter high-growth industries as a service provider.

We know that AirBnB has gone from obscure and renting air mattresses on the floor to becoming a global giant and once bankrupt three founders: Brian Chesky, Nathan Beecherczyk and Joe Gebbia. I’ve seen you make millionaires. AirBnB paved the way. But they weren’t the first. Vacation rentals were already taking off, but VRBO was the first. Still, AirBnB was better.

Target? Identify high-growth industries and become a service provider. Whether it’s vacation rentals, e-commerce, financial services, insurance, virtual reality, chatbots, or any other industry, find a unique way to deliver the same service better and more efficiently and enter the industry. Increase reliability.

We can also find ways to cater to HNWIs themselves by building services that attract them. Whether that means renting exotic cars and private his jets, or becoming a global concierge for the ultra-wealthy like Anastasia Seabaum’s Quintessential Group. Find out how to do something more efficiently than anyone else.

Kenny Trout, founder of Excel Communications, found success in the nascent telecommunications industry by becoming a long-distance reseller after deregulation took hold, selling more than 200,000 franchises using a multi-level marketing model. I got it. Growing up with his father working as a bartender, Trout was never rich. Early on, he sold life insurance and identified high-growth industries for which he paved the way.

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4. Find ways to improve your communication and connections online.

Mark Zuckerberg became one of the richest individuals in the world by improving his ability to connect and communicate online. Today we all know about Facebook’s success. But Zuckerberg was never poor or penniless. He hailed from a middle-class heritage.

But the most interesting story is from What’sApp founder Jan Khoum. In 2007, while working at Ernst & Young, shortly after the launch of the iPhone, his Khoum, an immigrant from Ukraine by birth, communicated with Brian Acton, released in January 2010, about creating his app. decided.

Khoum, who had just lost his job at Facebook, grew WhatsApp into a very popular communication application and was later acquired by Facebook for $19 billion. Like any billionaire, Khoum has seized on new industries and identified opportunities that others may have missed.

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5. Invest in real estate and grow your portfolio over time.

Real estate has provided a platform for the world’s wealthiest. If you think it’s impossible to make money in real estate, especially if you have no money to begin with, there are some lessons to learn. Some of the world’s biggest real estate tycoons started from scratch. It’s called wholesale and creative fundraising. If you can understand it, you can make really big progress.

The goal is to focus on positive cash flow. Discover how to create assets, not liabilities, like Robert Kiyosaki’s iconic Rich Dad Poor Dad books and series. Whether you want to be a millionaire or just want to be a millionaire, real estate provides a solid foundation or platform from which you can grow.

Leon Charney became a millionaire through real estate investments. However, he was the child of two of his immigrants, and his family became destitute when his father died. He had nothing and went through college and law school.

Carl Berg, another billionaire real estate investor, also lost his father early and was raised by his mother, who was a schoolteacher. While working at a hotel, he met what turned out to be the largest homebuilder in the United States and was offered a job running a mortgage company after graduating from college.