Blog Archives

17 Uncommon Traits of Billionaires

What special traits do the billionaires of this world possess that others don’t? Is there any special skill or uncommon trait I must possess before I can become a billionaire? What trait propelled the school drop out billionaires to success? Were people like Bill Gates, Warren Buffett and Mark Zuckerberg born to be billionaires? Well, read on to find the answers you seek.

In this article, I will be revealing to you 17 uncommon traits of billionaires. So if it’s your dream to become a billionaire, then you might as well start developing these billionaire traits gradually. Without wasting much of your time, below are 17 uncommon traits of billionaires.

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

1.  Billionaires start small

Most self made billionaires were not born billionaires. They were born like every other human but they desired to be exceptional. Sometimes, most people believe that billionaires such as Bill Gates and Mark Zuckerberg emerged overnight to become billionaires. That’s definitely not true.

Most of the billionaires today were nobody’s sometime ago but they started small and kept at it. Bill Gates, Mark Zuckerberg, Michael Dell, Jerry Yang and David Filo, Larry Page and Sergey Brin started from the Dormitory of their various schools.

Jeff Bezos, Henry Ford and Steve Jobs started small in their garages. Ray Kroc started as a salesman; Larry Ellison started as a freelance programmer; Li Ka Shing also started small while Dhirubhai Ambani started as a petrol station attendant. The illustrations above prove that most billionaires had a humble beginning; they started small.

2.  They think Big

“I like thinking big. If you’re going to be thinking anything, you might as well think big.” – Donald Trump

Another uncommon trait of billionaires is that they think big. They refused to allow their creative imagination be hindered by race, age or background. Though they started from scratch; they dreamed big and worked towards that dream. They didn’t just emerge billionaires overnight; they desired it, they hungered for it and worked towards making that desire a reality.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren Buffett

3. Billionaires take calculated risk

“To win big, you sometimes have to take big risks.” – Bill Gates

Most people abhor taking risk but billionaires know how to take calculated risk. Instead of shying away from taking risk; what billionaires do is to put up a strong risk management strategy and then go ahead to take that risk. Their ability to take calculated risk is the reason they emerged billionaires.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

4. They are competitive

“When somebody challenges you, fight back. Be brutal, be tough.” – Donald Trump

“And obviously from our own personal point of view, the principal challenge is a personal challenge.” – Richard Branson

The fourth trait of billionaires is competitiveness. Most people dread competition but billionaires thrive in competitive environments. They believe that competition brings out the best in them so they seek it out.

“You don’t have to be the biggest to beat the biggest.” – Henry Ross Perot

“The competitor to be feared is one who never bothers about you at all but goes on making his own business better all the time.” – Henry Ford

“We have always had a pretty competitive ferocious battle with British Airways. It lasted about 14 years and we are very pleased to have survived it.” – Richard Branson

5. They are focused

“The wise man put all his eggs in one basket and watches the basket.” – Andrew Carnegie

Take a look at billionaires and you will observe they are focused in their dealings. They don’t try to do many things at once; they focus on one. When it comes to business; billionaires are focused. Bill Gates and Larry Ellison focused on software; Aliko Dangote, the richest black man in the world focused on commodities. Ray Kroc, Dave Thomas and Carl Linder focused on fast foods.

“Diversification is a protection against ignorance. It makes very little sense to those who know what they are doing.” – Warren Buffett

Warren Buffett, George Soros, John Templeton and Peter Lynch focused on stocks as their preferred investment vehicle. Donald Trump is focused on real estate. Michael Milken focused on junk bond and that’s why he was referred to as the junk bond king. Ralph Lauren and Giorgio Armani focused on fashion while Anita Roddick and Mary Kay Ash focused on beauty care (cosmetics).

Michael Dell and Ted Waitt focused on computers while John D. Rockefeller and J. Paul Getty focused on oil. Andrew Carnegie and Lakshmi Mittal focused on steel. Sam Walton, Philip Green, Ingvar Kamprad and J.C. Penny focused on retailing. Walt Disney, David Geffen, Martha Steward and Oprah Winfrey focused on entertainment while Henry Ford focused on automobiles. The list goes on and on.

“The men who have succeeded are men who have chosen one line and stuck to it.” – Andrew Carnegie

6.  They are driven by passion

“Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am.” – Aliko Dangote

Listen to billionaires speak and you will sense a kind of passion in them. Billionaires are passionate about their calling and they pursue this calling with vigor. It’s this passion in them that keeps them going; despite their wealth, their passion keeps them working for long hours.

“Without passion, you don’t have energy. Without energy, you have nothing.” – Warren Buffett

7. They are goal getters

“I intend to be, the richest man in the world.” – Howard Hughes

Billionaires are goal getters. They spend time to set goals that are high and challenging but realistic and attainable; and they don’t rest on their oars until their set goals are achieved. To them, life without goals set and achieved is life wasted.

“We must have a theme, a goal, a purpose in our lives. If you don’t know where you are aiming, you don’t have a goal. My goal is to live my life in such a way that when I die, someone can say, ‘she cared.” – Mary Kay Ash

“I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.” – Larry Ellison

“A good goal is like a strenuous exercise, it makes you stretch.” – Mary Kay Ash

8. They thrive on criticism

“Dare to risk public Criticism.” – Mary Kay Ash

I have never seen a billionaire that hasn’t at one time or the other been criticized. Bill Gates, John D. Rockefeller, Steve Jobs, Mark Zuckerberg, J. Paul Getty and other billionaires have been heavily criticized. Henry Ford was even called an ignorant man by some scholars.

“When you innovate, you’ve got to be prepared for people telling you that you are nuts.” – Larry Ellison

But billionaires don’t get weighed down by criticism; instead, they get inspired by criticism. Billionaires welcome criticism because they see criticism as a feedback to improve themselves.

“Never be ashamed! There’s some who will hold it against you, but they are not worth bothering with.” – J. K. Rowling

“Embrace bad news to learn where you need the most improvement.” – Bill Gates

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

9. They have strong self imposed standards

“I am stingy and I’m proud of the reputation.” – Ingvar Kamprad

Get close to a billionaire and you will see a strong willed individual with tough self imposed personal standard. Billionaires don’t compromise their standard; they stick to their self imposed standard no matter what it takes.

“Remain true to yourself and your philosophy.” – Giorgio Armani

“People say I am cheap, and I don’t mind if they do.” – Ingvar Kamprad

10. They believe in themselves

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

Strong self belief is an uncommon trait possessed by billionaires. Billionaires display a high level of self confidence. They have little belief in fate, they strongly believe in themselves and their ability to achieve their set goals. Billionaires take charge of their destiny; they don’t leave it to fate.

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember you can achieve.” – Mary Kay Ash

11. They are persistent

“Sheer persistence is the difference between success and failure.” – Donald Trump

Billionaires are tough and unyielding. They believe that when the going gets tough, the tough should get going.”  Billionaires are known for being persistent and tough; they press on even in the face of hardship and failure. Billionaires know that without persistence, nothing can be achieved.

“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc

“When you reach an obstacle, turn it into an opportunity. You have the choice. You can overcome and be a winner, or you can allow it to overcome you and be a loser. The choice is yours and yours alone. Refuse to throw in the towel. Go that extra mile that failures refuse to travel. It is far better to be exhausted from success than to be rested from failure.” – Mary Kay Ash

12. They are committed

“I’m not afraid of turning 80 and I have lots of things to do. I don’t have time for dying.” – Ingvar Kamprad

Unyielding commitment is another uncommon trait of billionaires. Despite acquiring tremendous wealth, billionaires remain committed to their call. An example of this uncommon display of commitment is that of Warren Buffett and Ingvar Kamprad; these two men have pledged commitment to their companies until death. What a tough commitment.

“It’s my job for Oracle, the number two software company in the world; to become the number one software company in the world. My job is to build better than the competition, sell those products in the marketplace and eventually supplant Microsoft and move from being number two to number one.” – Larry Ellison

13. They learn quickly from mistakes

“Sometimes when you innovate, you make mistakes. It’s best to admit them quickly and get on with improving your other innovations.” – Steve Jobs

Billionaires make mistakes, just like every other human and their mistakes sometimes lead to business failures but billionaires don’t get bugged down by mistakes; they don’t bow their head in defeat. Instead, they quickly acknowledge their business mistakes, correct them, learn from their failures and move on. They fail but they don’t quit. Instead, they get inspired by their failure and use their failure as a stepping stone to success.

“Failure is just a resting place. It is an opportunity to begin again more intelligently.” – Henry Ford

14. They thrive on pressure and uncertainty

“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty

Billionaires thrive on tension; they thrive on uncertainty. When the billionaires started the entrepreneurial process with nothing, there was no security for their initial investment or guarantee for success. Though they made it through the process; they still thrive on uncertainty despite their wealth.

When Bill Gates dropped out of school to build Microsoft; there was no guarantee of success. There was also no guarantee of success for other drop out billionaires such as Mark Zuckerberg, Michael Dell, Steve Jobs, Richard Branson, Larry Ellison and Li Ka Shing. Yet, they emerged successful.

“Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine and eminently unsatisfying.” – J. Paul Getty

Becoming a Billionaire – 17 Uncommon Traits of Billionaires

15. They use money as a means to keep score

“I don’t make deals for the money. I’ve got enough much more than I’ll ever need. I do it to do it.” – Donald Trump

Billionaires are driven by passion; not money. They use the money acquired from their businesses as a landmark; a target and a sign to move on to other business challenges. Billionaires use money as a means to keep score; they are not driven by the quest to make money.

“Money was never a big motivation for me except as a way to keep score. The real excitement is playing the game.” – Donald Trump

“If only your goal is to become rich, you will never achieve it.” – John D. Rockefeller

“Being first is more important to me. I have so much money. Whatever money is, it’s just a method of keeping score now. I mean, I certainly don’t need more money.” – Larry Ellison

16. They are opportunists

“The way to make money is to buy when blood is running in the streets.” – John D. Rockefeller

Billionaires are opportunists. They are always on the look out for people’s problems because they always want to be the solution to people’s problems. Billionaires move in when others are moving out; they see opportunities where others see problems. Billionaires are like the ancient alchemists; who try to turn lead into gold. Billionaires will always attempt to turn problems into value; they believe in creating value out of nothing.

“Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investments.” – J. Paul Getty

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

17. They use debt to their advantage

“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

Debt is a double edged sword that can make or break you but billionaires have mastered the art of debt management. In fact, there is no billionaire that is free from debt. However, while others advocate staying away from debt; billionaires use debt as a financial leverage to get richer. While others use debts to acquire flashy liabilities such as cars, houses, etc; billionaires use to to invest and acquire income producing assets. The keyword here is “income producing.” To become rich in life and stay rich, you must be able to know the difference between good debt and bad debt, assets and liabilities, capital gain and cash flow, etc.

“Be careful when you take on debt. If you take on debt personally, make sure it is small. If you take on large debt, make sure someone else is paying for it.” – Rich Dad

“Financial leverage is the advantage the rich have over the poor and middle class.” – Rich Dad

40 Wealth Attraction Secrets from the Richest People in the World

What is the secret to wealth? How did the richest people in the world amass such wealth? What is the wealth attraction secret of the richest people in the world? While I have tried to answer such questions in some articles published on my blog; I have come to realize that nobody holds the actual answer to these questions.

So instead of beating about the bush and trying to guess the secret to the wealth of the richest people in the world; I think I will let these richest people tell you their wealth attraction secrets directly. If you are ready; sit back, grab a can of juice and keep an open mind as the richest people in the world gather to reveal their wealth attraction secrets.

  40 Wealth Attraction Secrets from the Richest People in the World

  •  John D. Rockefeller – founder of Standard Oil

1.            “I have always tried to turn every disaster into an opportunity”

2.            “If you want to succeed, you must strike out on new paths, rather than travel the worn out paths of accepted success.” – John D. Rockefeller

3.            “Singleness of purpose is essential for success in life.”

4.            “There’s no mystery in business success. If you do each day’s task successfully and stay faithfully within these natural operations of commercial laws which I talk so much about and keep your head clear, you will come out all right.” – John D. Rockefeller

  • Bill Gates – founder of Microsoft

5.            “I believe that if you show people the problems and you show them the solutions; they will be moved to act.”

6.            “I like my job because it involves learning. I like being around smart people who are trying to figure out new things. I like the fact that if people really try, they can figure out how to invent things that actually have an impact.” – Bill Gates

  • Warren Buffett – Berkshire Hathaway

7.            “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”

8.            “Focus on your customers and lead your people as though their lives depend on your success.” – Warren Buffett

  • J. Paul Getty – Getty Oil

9.            “Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investments.”

10.          “My formula for success? Rise early, work late, strike oil.” – J. Paul Getty

11.          “I have no complex about wealth. I have worked very hard for my money; producing things people need.“

12.          “To build wealth today, you must be in your own business.”

13.          “You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

  • Henry Ford – Ford Motor Company

14.          “Don’t find fault, find a remedy.“

15.          “Wealth like happiness is never attained when sought after directly. It comes as a product of providing useful service.” – Henry Ford

  • Henry Ross Perot – EDS

16.          “If you see a snake, just kill it. Don’t appoint a committee on snakes.“

17.          “Most people give up just when they are about to achieve success. They quit on one yard line. They give up the at last minute of the game one foot from a winning touch down.” – Henry Ross Perot

  • Ingvar Kamprad – IKEA

18.          “Time is your most important resource. You can do so much in ten minutes. Ten minutes; once gone is gone for good.” – Ingvar Kamprad

19.          “Ten minutes are not just one-sixth of your hourly pay; ten minutes is a piece of yourself. Divide yourself into ten units and sacrifice as few of them as possible in meaningless activities. Most things still remain to be done.”

20.          “Simplicity and common sense should characterize planning and strategic direction.” – Ingvar Kamprad

40 Wealth Attraction Secrets from the Richest People in the World

  • Li Ka Shing – Hutchison Whampoa

21.          “I wasn’t lucky. I worked hard to achieve the goals I set for myself.”

22.          “That’s why I am always conservative. I never forget to maintain stability while advancing, and I never forget to advance while maintaining stability.” – Li Ka Shing

  • Howard Hughes – Hughes Aircrafts and tools

23.          “I intend to be the greatest golfer in the world, the finest film producer in Hollywood, the greatest pilot in the world, and the richest man in the world.” – Howard Hughes

  • J. P. Morgan – Morgan

24.          “Go as far as you can see; when you get there, you’ll be able to see farther.”

“If you have to ask how much it costs, you can’t afford it.” – J. P. Morgan

  • Larry Ellison – Oracle Corporation

25.          “You have to act and act now.”

26.          “I think I am very goal oriented. I’d like to win the America’s cup. I’d like Oracle to be the No 1 software company in the world. I still think it is possible to beat Microsoft.”

27.          “The most important aspect of my personality as far as determining my success goes; has been my questioning conventional wisdom, doubting experts and questioning authority. While that can be painful in your relationships with your parents and teachers, it’s enormously useful in life.” – Larry Ellison

                Orji Uzor Kalu – Slok Group

28.          “A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere.” – Orji Uzor Kalu

  • Donald Trump – Trump Organization

29.          “When somebody challenges you, fight back. Be brutal, be tough.”

30.          “I was relentless even in the face of total lack of encouragement because much more often than you think; sheer persistence is the difference between success and failure.” – Donald Trump

  • Carlos Slim Helu – Telmex Corporation

31.          “When there is a crisis, that’s when some are interested in getting out and that’s when we are interested in getting in.” – Carlos Slim Helu

  • Aliko Dangote – Dangote Group

32.          “I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight. It’s not going to work. To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.” – Aliko Dangote

  • Ted Turner – CNN

33.          “Early to bed, early to rise, work like hell and advertise.”

34.          “I decided I wanted to be a success.” – Ted Turner

  • Dave Thomas – Wendy’s

35.          “When I was eight years old, I dreamed that I would one day own the best restaurant in the world. My restaurant would serve great tasting hamburgers made just the way you like them, and all of the customers would love the food and come back again and again.”

36.          “Believe in your dream. People may tell you that you won’t make it, that you’re wasting your time. If you keep your dream in mind, have done your research and are willing to work hard, you can make it come true.”

37.          What’s the secret to success? It’s no secret. You need a winning attitude, honesty and integrity, and a burning desire to succeed.” – Dave Thomas

  • Andrew Carnegie – Carnegie Steel

38.          “Think of yourself as on the threshold of unparallel success. A whole clear glorious life lies before you. Achieve! Achieve!! Achieve!!!

39.          “I believe that the true road to pre-eminent success in any line is to make yourself master of that line.” – Andrew Carnegie

  • Richard Branson – Virgin Group

40.          “Above all, you want to create something you are proud of. That’s always been my philosophy of business. I can honestly say that I have never gone into any business purely to make money. If that is the sole motive, then I believe you are better off doing nothing.” – Richard Branson

How to Become a Billionaire

Do you want to learn how to become a billionaire in 10 years or less? What would you do if you had a billion dollars? If I were to present you with a step by step plan on how to be a billionaire (as told by the self made billionaires), will you be willing to learn? If your answer to the last question is yes, please read on.

“We are self made, or never made.” – Dr Sidney Newton

How to become a billionaireI am Ajaero Tony Martins, an entrepreneur, investor and founder of this blog. For many years, i have been teaching entrepreneurs how to start a business and today, I want to share with you a practical step by step approach to becoming a self made billionaire. Sincerely speaking, I know I am not qualified to teach you how to become a billionaire because I am not yet one but on the other way round; It’s my ultimate dream to become a billionaire in my lifetime and I have been taking mentorship lessons from these billionaires. So it’s these lessons I have received that I want to pass across to you.

“If you can count your millions, you are not a billionaire.” – J. Paul Getty

Since I am on a journey to become a billionaire; I think it’s worthwhile I share with you my plan and the steps I intend to take to achieve that goal. I want to clearly state that all I have now is just a dream, a strong will and a plan to become a billionaire; nothing more, nothing less.

 Now What Does it Take to Become a Billionaire Fast?

After understudying the lives of billionaires such as Bill Gates, John D. Rockefeller, Henry Ford, J. Paul Getty and Aliko Dangote; I came to a conclusion that it takes nothing special to become a billionaire. After all, most of the richest people in the world today were school drop out billionaires. To become a billionaire, all you need is a dream, a strong will and a fast plan. Once these three things are in place, the journey has commenced.

“It is my utmost desire to become a billionaire in my life time and also give away billions of dollars. I don’t think any paid employment on earth can help me achieve that dream. If I become a billionaire in my life time, I will just be another self made entrepreneur on the list. But if I don’t; I will die knowing I gave that dream my best shot.” – Ajaero Tony Martins

 How does one become a self made billionaire Fast?

My answer is I don’t know. There’s no outlined format, path or pattern to becoming a billionaire. In the book “Rich Dad’s Guide to Investing,” Robert Kiyosaki highlighted that there several ways to become rich. He stated that you can become rich by inheritance, by being a crook or by marrying someone rich.

Well, I see some truth in the statement above. The Walton family today are billionaires; thanks to an inheritance from the founder of Wal-Mart, Sam Walton. There are also billionaire drug lords and ladies; who acquired wealth by crooked means and there are billionaire sports personalities and stars like Tiger Woods and Jay-Z. Now in retrospect, there are those who marry for money; that is why the media is occasionally filled with stories of billion dollar divorce lawsuits.

“I think it is a man’s duty to make all the money he can, keep all that he can and give away all that he can.” – John D. Rockefeller

So how do I intend to become a billionaire? I don’t know. All I can say is that I intend to become a billionaire the same way my mentors and models such as Warren Buffett, Aliko Dangote and Larry Ellison have done it. I intend to apply the same strategy they applied.

“If you want to successfully go up the mountain, ask the man who has gone through it to and fro.” – Zen Master

How long does it take to become a billionaire?

If you observe the entrepreneurial path of successful entrepreneurs; you will come to understand the fact that there was no set time or guarantee that they would emerge billionaires. These successful entrepreneurs just started the journey, maintained focus and one day, they emerged billionaires.

“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” – Warren Buffett

So how long will it take me to become a billionaire? I don’t know because I might never get there. It took Aliko Dangote approximately 30 years to become a billionaire and emerge the richest black man in the world. It took John D. Rockefeller 25 years of oil drilling and distribution to become a billionaire. It approximately took 10 years for Bill Gates, Larry Page, Sergey Brin, Jerry Yang and David Filo to become billionaires. But Mark Zuckerberg became the youngest billionaire in the world in less than five years.

“Twenty years and $40 billion; they seem like good round numbers.” – Michael Dell

 “I was worth about over a million dollars when I was twenty-three and over ten million dollars when I was twenty-four, and over a hundred million dollars when I was twenty-five and it wasn’t that important because I never did it for the money.” – Steve Jobs

So if it’s your goal to become a billionaire in your lifetime, then just start the process and forget about the time it would take to get there. After all, Entrepreneurship is a journey, not a destination.

“The most important thing is to enjoy yourself and continue to work. Life is a journey, not a destination. That’s also true in business; your objectives keep moving.” – Thomas J. Burrell

 How to Become a Self Made Billionaire

1.Start with a dream

“I intend to be, the richest man in the world.” – Howard Hughes

“It does not take money to make money.” – Robert Kiyosaki

Becoming a billionaire begins with a dream. One of the free gifts given to us by our creator is the gift of imagination. It costs nothing to dream but most people don’t dare to dream and those who do, dream small.

“People who dream small dreams continue to live as small people.” – Rich Dad

“Aim for the highest.” – Andrew Carnegie

On several occasions, I have shared my dream with friends and all I got were fingers pointing at me saying; “you must be a joker.” Do statements like that deter me? My answer is no. I still continue to dream big and pursue that dream vigorously. If becoming a billionaire is your lifetime goal; then allow your mind to wander; dream big and shut your ears to critics.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” – Warren

“You are nuts and you should be proud of it. Stick with what you believe in.” – Trip Hawkins

 “All men dream, but not equally. Those who dream by night in the dusty recesses of their minds wake up in the day and find out that it was vanity. But the dreamers of the day are dangerous men, for they may act their dreams with open eyes to make it possible.” – T. E. Lawrence

2.Develop the billionaire’s mindset

 “If I lose a billion dollars, I will have it back in less than five years.” – Henry Ford

The second step to becoming a billionaire is to develop the mindset of billionaires. Do you know that the thinking capacity of millionaires differ from that of billionaires? To become a billionaire, you must develop your mindset to accommodate that status. You must think big and you must also increase your capacity to handle the corresponding risk.

“You must take risks, both with your own money or with borrowed money. Risk taking is essential to business growth.” – J. Paul Getty

Becoming a billionaire means being willing to risk failure; you must also bear in mind that achieving any worthwhile goal in life requires sacrifice. You must see possibilities in the actualization of your dreams and ultimately, you must train your eyes to see opportunities disguised as problems; you must see opportunities others don’t see.

 “Someone asked me, ‘how can I find a good business opportunity? I replied, ‘go and look for adversity.’ If you can handle adversity, you will find opportunity. Adversity and opportunity are two inseparable twins.” – Ajaero Tony Martins

“A good businessman must have nose for business the same way a journalist has nose for news. Once your eyes, ears, nose, heart and brain are trained on business, you sniff business opportunities everywhere. In places where people see a lot of obstacles, I see a lot of opportunities.” – Orji Uzor Kalu

“If you want to go broke; go it big. I will prefer to lose a billion dollars than to lose a million dollars.” – Ajaero Tony Martins

3.Increase your business skills

“Skills make you rich, not theories.” – Rich Dad

Increasing your business skills is essential to the entrepreneurial process. In fact, becoming a billionaire requires more than just business skills. It require financial intelligence, strong intra personal skills and investing skill. Making money is a skilled act; making money is all about utilizing your acquired entrepreneurial skills.

“The ability to sell is the number one skill in business. If you cannot sell, don’t bother thinking about becoming a business owner.” – Rich Dad

4.  Develop a fast business idea

 “There are fast ideas and slow ideas, just as there are fast trains and slow trains. When it comes to money, most people are on the slow train looking out the window watching the fast train pass them by. If you want to become rich quickly, your plan must include fast ideas.” – Rich Dad

From my personal point of view, this is where the work begins in the entrepreneurial process to becoming a billionaire. To achieve your dream of becoming a billionaire, you need a fast business idea; accompanied by a fast plan.

 “All achievements, all earned riches have their beginning in an idea.” – Andrew Carnegie

Now what do I mean by a fast business idea and a fast plan? In previous articles, I stressed the point that the world is filled with brilliant ideas but the world lack seasoned entrepreneurs. This is why I emphasized you increase your business skills before ever starting a business; the world is filled with brilliant ideas.

Any idea can take you to the place of your dreams but if becoming a billionaire is your priority, then any idea is not enough. You need a fast business idea. A fast business idea is an idea that’s hot in demand; an idea that’s in line with the growing trend. A fast idea solves a very critical problem and most times; fast ideas are always the pioneer solution to people’s problems or needs.

As an illustration to prove the importance of developing a fast idea, I will share with you the following stories. Early 1900, there was a growing demand for oil throughout the world and entrepreneurs such as John D. Rockefeller and J. Paul Getty took advantage of this growing demand; and they became billionaires. When the demand for affordable means of transportation came up, Henry Ford took advantage of it and became a billionaire; so also did Cornelius Vanderbilt.

“I have no complex about wealth. I have worked very hard for my money; producing things people need.” – J. Paul Getty

Aliko Dangote saw a growing demand for commodities in Nigeria and he positioned himself as a fast solution provider; today, he is not only a billionaire but also the richest black man in the world. Computers came as a trend and Bill Gates, Steve Jobs, Larry Ellison, Ted Waitt and Michael Dell developed fast ideas to take advantage of this trend; and they ended up becoming billionaires.

 “I’m the NO 1 developer in New York. I’m the biggest in Atlantic City, and maybe we will keep it that way.” – Donald Trump

The internet came as a trend and Larry Page, Jerry Yang, Steve Case, Jeff Bezos, Pierre Omidyar and Mark Zuckerberg developed fast ideas to take advantage of the trend and they became billionaires. So if you want to join this list of billionaires; you need to develop a fast business idea.

Now how do you develop a fast idea? I don’t know, but a great way to start is to ask yourself the question; “What is the next coming trend? Will it be biotechnology, alternative power, genetic engineering or something else? Only time will tell.

 How to Become a Billionaire Fast

5.Find a business coach or mentor

Let me divulge a secret to becoming a billionaire to you. If you are mentored by a billionaire; chances are high that you will end up a billionaire. I have seen young entrepreneurs perform excellently simply because they are being mentored by billionaires. So when looking for a business coach or mentor; find one that’s a billionaire already or has direct access to billionaires

 “Seek advice on risk from the wealthy who still take risks, not friends who dare nothing more than a football bet.” – J. Paul Getty

A good way to go is to seek business mentors who are Venture Capitalists, investment bankers, Angel investors and deal makers. Getting a business coach from any of these fields will do you good and you will learn tremendously from their wealth of experience. Now how do you break into this circle of great men? My answer is I don’t know. All I can say is to repeat what Winston Churchill said:

“He who must dig will surely find a spade; where there’s a will, there’s a way.” – Winston Churchill

6.Start a business

 “To build wealth today, you must be in your own business.” – J. Paul Getty

What has starting a business got to do with becoming a billionaire? My answer is everything. Take a look at the successful entrepreneurs who are billionaires; take a look at the school drop out billionaires of this world like Larry Ellison or Bill Gates and you will observe a pattern. They all built mega businesses and those mega businesses made them rich. To make you understand the point I am trying to buttress, take a look at the list below.

 How Billionaires Made their Money

  • 1900 – Andrew Carnegie made his money from steel – $475 million
  • 1910 – John D. Rockefeller became a billionaire in oil – $1.4 billion
  • 1920 – Henry Ford became a billionaire in the auto industry – $1 billion
  • 1940 – Howard Hughes became a billionaire with military aircrafts, contract, tools and movies – $1.5billion
  • 1957 – J. Paul Getty became a billionaire in oil – $1 billion
  • 1962 – Henry Ross Perot became a billionaire with EDS – $3.8 billion
  • 1970 – Sam Walton took Wal-Mart public and became a billionaire – $22 billion
  • 1980 – Ron Perelman made fortune as a Wall Street deal maker – $3.8 billion
  • 1990 – Jerry Yang founded Yahoo! – $3.7 billion
  • 2008 – Aliko Dangote became the richest black man in the world as a manufacturer – $3.3 billion
  • 2010 – Mark Zuckerberg became a billionaire with FaceBook.com – $6 billion

“Build wealth as a byproduct of your business success. If wealth is your only objective in business, you will probably fail.” – J. Paul Getty

So if these men became billionaires simply by building businesses; then there’s surely a door way to becoming a billionaire through entrepreneurship. Even Warren Buffett, the acclaimed richest investor in the world made his money as an entrepreneur, by building and leveraging Berkshire Hathaway. If you are already in business, then develop a fast plan, stay focused on building your business and keep learning. You will surely hit your goal even if it takes a long time.

“The richest people in the world build networks; everyone else is trained to look for work.” – Rich Dad

7.  Assemble a strong business team

A strong business team is vital to achieving your dream of building a business and becoming a billionaire. My mentor, Aliko Dangote; the richest black man in the world once attributed his success to his business management team and if you should take a critical look at his statement, you will observe the truth in its entirety. No successful entrepreneur ever became a billionaire alone; they all have a team of professionals, who are smarter than they are.

 “Successful businessmen share the ability to hire people smarter than they are.” – Dillard Munford

Your business management team will really prove vital to you especially in the game of raising venture capital. No venture capitalist or private investor will invest in a business that lacks a strong team. Just as a venture capitalist friend of mine told me in a discussion that:

“VCs would rather invest in a business venture with an average product and a strong management team than invest in a business with an excellent product with a weak management team.”

So whenever a protégé ask me the secret of raising capital successfully, I reply; “Go and assemble a strong business team.” As simple as that answer may be, it’s the ultimate secret to raising capital and eventually becoming a billionaire. Who’s on your team? This is a million dollar question that most entrepreneurs take for granted. So are you still interested in becoming a billionaire; then find a team that will work with you towards the actualization of your goal.

8.Raise capital for your business

“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

Raising capital is essential to the process of becoming a billionaire. In the points I mentioned above, I emphasized the need to develop a fast business plan and start a business. Now the flipside is that you will require capital to leverage the potential of a fast business idea. You can raise capital by approaching angel investors, Venture Capitalists and private investors with your business idea.

But I want to state clearly that there’s more to raising capital than simply approaching investors and asking for money. Raising capital is a process that requires continuous learning; you need to keep learning how to pitch investors. The manner in which you pitch angel investors is quite different from the way you pitch VCs; so you have to learn both.

But ultimately, expect disappointments. A good piece of advice I normally give to my protégés is to tell them to start a small business with whatsoever they have. I believe in thinking big, starting small and finishing big; I encourage them to also do the same. Facebook, Google, Yahoo, Apple and Amazon all started small until the funding came. I also started small and grew my capital base with time, so I expect you to do the same. Start small but think big.

“Despise not the days of little beginning.” – The Holy Bible

9.  Take your company public

“Taking a company public is the rite of passage for any entrepreneur.” – Rich Dad’s Guide to Investing

 “Unfortunately, we are not a public company. We are a private group of companies and I can do what I want.” – Richard Branson

I don’t believe going public is a key to becoming a billionaire, but since most of the world’s billionaires all started companies that went public; I had to become a believer. The dream of almost all entrepreneurs is to see their company listed on the market. Analyzing the Bill Gates, Larry Ellison, Sam Walton and Martha Stewart experience; I think going public is a big leap in your quest to become a billionaire. Think of it as a kind of financial leverage; using other people’s money to grow.

“If you are acquired, a company validates you. If you go public, the market – the world validates you.” – Fortune magazine

Nobody can definitely force you to go public but if it’s a way forward for you, then you better start learning the rudiments of building a company that will end up going public because it is a task that requires great responsibility.

 “The new issues and IPO market is just like other businesses. The market is always looking for the flavor of the month. If you want to be very rich, part of your strategy as a business owner is to be building a company the market want, before the market wants it.” – Rich Dad’s Guide to Investing

10.Invest in other businesses

“Once you have made it, you will understand that any business is limited in the challenges it offers. You will want and need other games to play, so you will look for other ventures to hold your interest.” – J. Paul Getty

This is probably the easiest part in the process of becoming a billionaire. Whether you go public or not, your business has the potential to make you a billionaire but to maintain that status; you will have to make a couple of external strategic investments. This is another scene where the need for a business team comes into a play.

“Men of means look at making money as a game which they love to play.” – J. Paul Getty

  • In February 1998, Warren Buffett disclosed that he had acquired 130million ounces of silver and stored it in a warehouse. Warren Buffett; at several intervals has made strategic investments in Goldman Sachs, Coca Cola and other companies.
  • In September 1998, Canadian business ran an article indicating that Bill Gates has made a buy in silver, acquiring a 10.3% stake for $12million of a Canadian silver company listed on the Vancouver stock exchange.
  • In 2010, a TV analysis on Oracle Corporation revealed that Larry Ellison has led Oracle to acquire 57 companies in a space of five years. If these self made billionaires are still investing even after hitting the pinnacle of success, why shouldn’t you.

11.Stick to the process

“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.” – J. Paul Getty

This is probably the most difficult task of all. Most people are very good at starting things but sticking to it until it yields result becomes a problem. Success does not come overnight; it’s a product of continuous unwavering effort. Just as every goal requires a process; so does the goal to become a self made billionaire requires a process, and that process is not an easy one.

“I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight. It’s not going to work. To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.” – Aliko Dangote

Sticking to the entrepreneurial process of becoming a billionaire implies staying focused on your goal; while avoiding distractions and negative influence. Sticking to the process may imply making a few sacrifices; handling disappointments with a positive attitude and facing business challenges bravely.

“Patience; this is the greatest business asset. Wait for the right time to make your moves.” – J. Paul Getty

As a final note, i want to clearly state that becoming a billionaire is within the reach of every individual but unfortunately, many will not aim for it because anything worth having has a price tag; and many dread the price of success. They would rather live in mediocrity than attempt to go beyond their comfort zone.

Now that i have taken the pain to explain the process of becoming a billionaire fast, i believe the rest is up to you. If becoming a billionaire is your dream, I encourage you to pursue that dream vigorously and I will see you at the top.

“God is such a loving father. He gave everyone of us a blank signed check. Anything you write on that check will be yours. But unfortunately; most people die poor because they don’t dare to write something big on that check. That check is a gift called life.” – Ajaero Tony Martins

11 Traits of Exceptionally Creative Business Leaders

What special traits do creative business leaders and successful entrepreneurs such as Bill Gates, Steve Jobs, Warren Buffett, Richard Branson, Henry Ford and Aliko Dangote possess that you don't? Have you ever wondered what it takes to build a successful business from scratch? What does it take to be at the helm of affairs of a Fortune 500 company? If you seek answer to any of these questions, then read on.

                "In the course of building a business, leadership skill is not an option. It's a necessity." – Rich Dad

To successfully complete the entrepreneurial process, you must be a leader but to build a business that will be a pacesetter in any industry it finds itself; becoming a leader is just the beginning. You have to be creative and exceptional in your leadership style. Being creative and exceptional requires you adopt a strong, tested and proven leadership strategy.

                "Inventories can be managed but people must be led." – Henry Ross Perot

Today, I am going to highlight 15 traits possessed by creative business leaders who have shown exceptionality in their endeavors. I am not highlighting these traits to thrill you; rather, I am highlighting them so that you can look into yourself and know the traits you lack.

                "If there is such a thing as good leadership, it is to give a good example. I have to do so for all the IKEA employees." – Ingvar Kamprad

With these 15 traits in you, growing your small business startup at a very fast rate will be a piece of cake. Possession of these 15 traits is the sole reason the school drop out billionaires were able to become great business leaders, build successful businesses and ultimately became rich. Have you ever wondered why Facebook grew so fast? Or why Mark Zuckerberg became the youngest billionaire in the world? Or how Aliko Dangote emerged the richest black man in the world? Well, the answer can be found in the 15 traits highlighted below.

                11 Traits of Exceptionally Creative Business Leaders

 

1.            Integrity

                "The most important thing in your business relationships is your reputation for honesty. If you can genuinely and sincerely fake honesty, you will be a success. Never doubt it." – The Mafia Manager

The first trait possessed by exceptionally creative business leaders is integrity. The Oxford dictionary defines integrity as the quality of being honest and fair. It also defined integrity as the state of being whole or unified.

                "Real integrity is doing the right thing, knowing that nobody's going to know if you did it or not." – Oprah Winfrey

Of all the traits I will be sharing with you, integrity is the most important. But unfortunately, it's difficult to find entrepreneurs of integrity today and the past case of Enron, WorldCom and Arthur Anderson proves it. Integrity is supreme, it is the thin line between the over achievers and the average. Building a business on the foundation of integrity is a recipe for survival; take a look at businesses that have stood the test of time and you will see integrity at the base. General Electric is one of such businesses.

                "I shall argue that strong men conversely know when to compromise and that all principles can be compromised to serve a greater purpose." – Andrew Carnegie

The importance of integrity cannot be over emphasized. I have seen entrepreneurs raise billions of dollars in capital without stress because they have a reputation for honesty. Integrity can be your leverage if you hope to rise to leadership position in the future and it can also be your winning competitive strategy. Take a closer look at the life of exceptional business leaders and you will see they are an embodiment of integrity. Warren Buffett is a good example of an exceptional business leader with integrity.

                "It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently." – Warren Buffett

So if you want to be an exceptional business leader, then you must be a person of integrity. You must have strong self imposed standards and stick to it because it takes discipline to manifest integrity. In fact, you must be yourself and be a man of your words. Be honest, be open; be disciplined.

 

2.            They are Excellent Strategists

                "The best thing to invest in your business is your time. To schedule, plan and use time effectively, know your turf and know your objectives. Assess the obstacles and opportunities, then devise your strategies." – The Mafia Manager

Entrepreneurship is a game and to emerge a winner in a game, you must be strategic in approach. The ability to strategize is what separates exceptional business leaders from the average one. Creative business leaders are referred to as masters of the game because they are excellent strategists. Bill Gates, Jack Welch and Alfred Sloan are the master strategists of the business world.

                "The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose." – Bill Gates

To become an excellent strategist, you must develop your critical thinking skill; you must learn to think critically and strategically. Critical thinking is essential to becoming an excellent strategist and an exceptional business leader.

 

3.            Humility

                "To learn new things; you might need to unlearn old thoughts and tricks. Both processes can never be achieved without humility." – Ajaero Tony Martins

Show me a humble leader and I will show you an exceptional leader. What does humility have to do with being an exceptional business leader? My answer is everything. It takes humility to serve; it takes humility to learn and it takes humility to admit your mistakes.  So therefore, it takes humility to be an exceptional business leader. Nobody will willingly follow a proud and arrogant leader except they are forced to. Take a look at successful entrepreneurs such as Aliko Dangote, Mike Adenuga of Globacom Nigeria, Cosmos Maduka of Coscharis Group, Bill Gates and Li Ka Shing; these men are epitomes of humility.

                "One of the great things about being willing to try new things and make mistakes is that making mistakes keeps you humble. People who are humble learn more than people who are arrogant." – Rich Dad

 

4.            They are Proactive Learners

Highly exceptional business leaders are proactive learners. They know that no man has monopoly of knowledge; they know their cup must never be full so they are always willing to learn at every giving chance.

Sometime ago, Bill Gates scheduled a visit to meet Warren Buffett. According to Bill Gates schedule, the meeting was to last an hour but Bill Gates over stayed his time by nine hours. The meeting ended up lasting ten hours because Bill Gates and Warren Buffett discovered they both have something to learn from each other.

Being willing to sacrifice other appointments to learn something you don’t know is an attribute of an exceptional business leader in the making. To be a successful leader, you must be willing to expand your context at every giving opportunity; your cup must never be full.

                “A cup that is full is useless.” – Chinese proverb

 

5.            Decisiveness

                "You have to act and act now." – Larry Ellison

One important trait possessed by exceptional business leaders is the ability to arrive quickly at a decision. Most people avoid being responsible for their actions; they hate being the one to take the last decision.

As an entrepreneur and business leader, you are the pilot of your business and it’s up to you to determine the direction your business goes. No matter how smart your business team is, you hold the last decision. In retrospect, a single decision; just one decision can either make or break your business.

                "Screw it, let's do it." – Richard Branson

I believe being decisive is an exceptional trait possessed by creative business leaders. These set of business leaders face reality with guts and take their stand; they make decisions with the probable consequence in mind and they are prepared to face it.

                "Before making an important decision, get as much as you can of the best information available and review it carefully, analyze it and draw up worst case scenarios. Add up the plus or minus factors, discuss it with your team and do what your guts tell you to do." – The Mafia Manage

 

6.            They are Excellent Communicators

                "The most important thing in communication is hearing what isn't said." – Peter F. Drucker

Are you a communicator? Are you good at selling? If your answer to the two questions above is no, then you are never going to be an exceptional business leader. Take a close look at the highly exceptional business leaders and you will observe that they are excellent communicators and sales people. When they speak, people listen. Bill Gates, Steve Jobs are critical examples.

Show me a successful business leader and I will show you an excellent communicator. Learning and harnessing your communication skill is very vital to your bid of becoming an exceptional business leader.

 

7.            Exceptional Business Leaders are Team Players

                "Business and investing are team sports." – Rich Dad

Aliko Dangote; the richest black man in the world once attributed his success to his business team and if you should take a critical look at his statement, you will observe the truth in its entirety. No exceptional business leader stands alone; they surround themselves with men smarter than they are.

                "Successful businessmen share the ability to hire people smarter than they are." – Dillard Munford

They are also good networkers; they network with other exceptional business leaders. They know that birds of the same feather must flock together.

 

8.            They are Flexible

                "Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while." – Jack Welch

Flexibility is another outstanding trait possessed by highly exceptional business leaders. They are always willing to try out new strategies and innovations even when there is massive risk involved. In retrospect, lack of flexibility made Henry Ford lose the leadership position of Ford Motor Company to a more flexible General Motors led by Alfred P. Sloan.

                “Defeat your enemy by flexibility and strategy.” – Sun Tzu

                "The competition to hire the best will increase in the years ahead. Companies that give extra flexibility to their employees will have the edge in this area." – Bill Gates

 

9.            Creative Business Leaders are Excellent Negotiators

                "If you cannot negotiate, you will end up getting good deals at exorbitant prices or worse still, you will get nothing." – Ajaero Tony Martins

I don’t think I need to stress much on this because the lesson is clear. If you cannot negotiate deals; forget about being an entrepreneur, talk more being a business leader.

 

10.          They are Excellent Motivators

"I am looking for a lot of men who have the infinite capacity to not know what can't be done." – Henry Ford

Exceptional business leaders are masters of motivation. They know how to use words to stir the spirit of their employees. They know how to motivate employees; they know how to bring out the best in their employees.

                "Outstanding leaders go out of their way to boost the self esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish." – Sam Walton

 

11.          Highly Exceptional business leaders thrive on Criticism

Show me a business leader who hasn’t faced stiff criticism and I will show you a mediocre leader. All great business leaders I know have at one time or the other faced severe criticism and media attack. From Ingvar Kamprad, Bill Gates, John D. Rockefeller, Henry Ford, J. Paul Getty to Mark Zuckerberg and George Soros.

                “There will be times when you will have to be abrasive, even brutal to members of your staff. Don't worry that your people will say bad things about you because of this. They already have. But in general, try to be pleasant and accommodating. Try to please the greatest number who work for you that you can; antagonize the fewest. Blow smoke.” – The Mafia Manager

All these men have faced mass criticism but they were not deterred; they remain focus to there calling and got to the place of their dream. So if it’s your utmost desire to become a creative and exceptional business leader; then you must be prepared to face criticism. It’s not optional; it’s a must.

                "Dare to risk public Criticism" – Mary Kay Ash

As a final note, I want to state clearly that it’s within the reach of everyone to be an exceptional business leader but unfortunately, many won’t dare to reach for this height because they hate being responsible for their actions. So if becoming an exceptional business leader is your dream, then take these 11 traits to heart and go for that dream. Good luck.