What does it take to be a Billionaire
Date Added: March 10, 2008 01:24:27 AM
It takes more than mere intelligence. It takes more than luck and guts. It takes a near divine vision for these individuals to become self made billionaires that not only dominate industries, but take them to new heights and start new ones.
It takes more than mere intelligence. It takes more than luck and guts. It takes a near divine vision for these individuals to become self made billionaires that not only dominate industries, but take them to new heights and start new ones.These remarkable entrepreneurs do not operate or confine themselves to the current market. Instead they are anticipating things much farther out and seeing opportunities that others just don’t see yet.
Even though the world’s self made billionaires have that vision, it does not stop for them there. That is not the only qualities that separate those who may be accomplished from those who are enormously wealthy. If you want to be a billionaire you need to also have a complete and unending belief in your vision in addition to the courage and will power to make it happen.
Self made billionaires have a view of the future they are passionate about and a fundamental belief that there is a better way to solve problems than how it is currently being done.
Then there is the risk factor. Self made billionaires seem to be ravenous for risk. Most people in their day to day lives might find it hard enough to leave the comfort of a 9 to 5 and start a small business, let alone take on the task of empire building. Billionaires seem to have a level of confidence that borders on arrogance when the risks increase as business expands. Then need that confidence to counter any fear or doubt.
So do you think you were born to be a billionaire? There are some tough questions you should ask yourself prior to taking on the massive growth strategy and the hassles that go with it.
The first thing you need to ask yourself is why do you want to go big? Is it the competitive juices? Do you have an ego that needs its own stock ticker? Do you want to make it big so you can cash out? Whatever your personal reasons you need to understand them before you make your move to go big.
Next question you need to know is will you be able to make tough decisions to grow your company? Are you loyal to those that helped you start your business? You will need to understand that many of those that helped get you started may not be able to come on the ride. If you can’t see yourself firing or making a change at key positions you should stay small.
Independence is an entrepreneur’s best friend so you should ask yourself just how much of that you’re willing to give up. You need to understand that as your business grows the decisions will become less your own, your schedule will become less your own all because you have investors and members of the board to take into consideration.
One of the most difficult realizations with company growth is when the founders realize that they are no longer the boss.
You will also need to be comfortable in the public eye because large companies need a public face. An entrepreneur who likes the spotlight of weekly meetings, shareholder meetings, interviews and public performances will be able to adjust to this much more than one that does not.
Next you should know if you have an ability to inspire a room filled with people. If you want to grow and can’t inspire those around you, you may need to hire a spokesperson who can promote your company line.
It does not stop with good communication. You need to be able to build a consensus among people. As you grow bigger there will be a larger circle around you to get input from. You will need to be able to take the input and marshal those individuals behind your cause. If you have a “my way or the highway” mentality you can forget about growing.
What pursuing that elusive billionaire status really comes down to is, knowing yourself just as well as you know sales and managing inventory. If you are unsure about any of these items mentioned you might try settling for just one less zero.
