Common Traits of Billionaires

By Chris Miksen, eHow Contributor

 - last updated August 28, 2014

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People don’t just luck into a billion dollars. And if they do, their newfound fortune doesn’t typically last. Billionaires may operate their companies vastly different from one another and also may have different goals from one another, but most share a few common traits. These traits set billionaires apart from the rest of the population -- at least in terms of earnings. 

Focus

1. • Billionaires possess a strong focus that allows them to accomplish their goals and take their ideas to the next level. Focus is the trait that often separates successful people from unsuccessful people. Take, for example, Warren Buffett, who has a net worth of over $50 billion as of March 2011. According to Forbes, Buffett read every piece of writing about investing in stocks in the Omaha, Nebraska public library by the time he reached 12 years of age. Buffett knew what he wanted to do at a young age, and he had the focus to accomplish it.

   Education

   • Every billionaire has a wealth of education, but not necessarily formal education. Some billionaires educated themselves. For example, Bill Gates took it upon himself to read encyclopedias as a youth and also spent much of his time learning how computers worked, according to Biography.com. Gates, of course, went on to become the founder of Microsoft and has a net worth of $56 billion as of March 2011. Bill Gates attended college, but he did not complete his studies, opting to drop out to further invest time into what would become Microsoft.

   Motivation and Desire

   • Without motivation and desire, laziness and indifference set in, preventing people from reaching their best performance. Billionaires are set apart from others in that they have a fiery passion for what they do, and their desire and motivation is matched by only a select few. For example, Sam Walton, founder of Walmart, grew up during the great depression. His motivation to help his family and himself fueled his desire to work hard and go to college to earn an education. According to InvestingValue.com, Walton majored in economics. His desire to learn about retail and what made popular stores successful drove him to create the first Walmart store. Walton’s desire and motivation have propelled the Walton family to a mult-billion dollar net worth.

   Multiple Skills

   • Billionaires have the capacity to learn about several subjects in-depth. For example, Larry Page and Sergey Brin, co-founders of Google, are experts in computer technology. However, for Google to become a success, they were forced to apply their business knowledge. They knew that the search engine could serve as an engine for ad revenue. Aside from their business and computer knowledge, they also possess natural leadership, which allowed them to successfully organize and run the company.

Read more : http://www.ehow.com/info_8721242_common-traits-billionaires.html#ixzz2MF3c3oON

How to Think like a Billionaire

Ajaero Tony Martins

Mindset Training

Do
 you want to learn how to think like a billionaire? What mindset do the successful entrepreneurs and drop out billionaires possess that others don’t? Do you know that the thinking capacity of millionaires differ from that of billionaires?

What is the thinking pattern of billionaires such as Mark Zuckerberg, Richard Branson, Donald Trump, Steve Jobs, Bill Gates, Larry Ellison, Oprah Winfrey, Aliko Dangote, Warren Buffett and others? Do you want to develop the billionaire mindset? If your answer to the last question is yes, then please read on because this article is for you.

“When we direct our thoughts properly, we can control our emotions.” – W. Clement Stone

In this article, I will be explaining in detail how you can develop your mindset, control your thoughts and ultimately think like a billionaire. Now why should you think like a billionaire? I believe you are entitled to your thinking pattern but it is also worthwhile you know that your pattern of thinking will definitely affect your level of achievement in life.

“All personal achievements start in your mind. The first step is to know exactly what your problem, goal or desire is.” – W. Clement Stone

Why you need to think like a billionaire

Have you observed that your state of mind or your perception is directly proportional to your status in life? What I am trying to say in essence is that if you think like a millionaire, you will become a millionaire and if you decide to increase your thinking capacity to the billionaire level; you will ultimately become a billionaire.

That’s why Donald Trump wrote a book titled “How to think like a billionaire” because he knows the importance of the human thinking pattern to the process of achieving anything in life and that’s why the bible states that

“As a man thinketh in his heart, so he is.” – The Holy Bible

The mindset of a millionaire will never put you in the position of a billionaire; period. That’s the reason why I am emphasizing you develop your mindset. I have seen entrepreneurs turn down a $100,000 startup capital simply because all they need is a seed capital of $30,000. Their rejection of the $100,000 capital has nothing to do with financial prudence; it’s all about the mindset. They’ve not trained their mindset to go beyond their financial capacity and that’s why they will remain average.

I have also seen accidental millionaires who got lucky and won the lottery to the tune of millions. After several years, they are back to square one; living from hand to mouth. I have also seen people come into an inheritance of millions only to lose it all. Are these set of individuals doomed to be failures? My answer is a resounding no. The only problem they’ve got is their state of mind; they lack the right mindset to handle their change in financial position.

That’s why I wrote this article for you; I wrote this article to challenge you to develop your mindset by going beyond your present thinking pattern to a higher level. So if you are ready to develop your mindset and think like a billionaire, if you are prepared to go beyond your present thinking capacity; then please read on as I share with you five strategic steps to developing your mindset.

How to Think like a Billionaire

1. Have a Strong Desire to Develop your Mindset

“You have to act and act now.” – Larry Ellison

The first step to developing your mindset positive is to strongly desire it. You must see the need to develop your mindset positively and increase your thinking capacity. You must also be willing to go through the process and the process is definitely not going to be easy because it entails a change of perception and core values.

Just as entrepreneurs go through the entrepreneurial process; so will you need go through the mindset development process. Once you identify the need to develop your mindset and you desire it so strongly, you will successfully go through the process and a new world will open to you.

2. Change your Perception towards failure

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

This is another distinct core value that separates the average individuals and millionaires from billionaires.

• How do you handle failure?
• How do you react in the face of failure?
• Do you fear failure or do you embrace failure as a learning opportunity?

Your answer to these questions will help you determine if you are thinking in the pattern of the billionaires or mediocre.

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

To develop you mindset and think like a billionaire, you must change your perception towards failure. You must stop avoiding failure and you must not see failure as a sign of incompetence or defeat. Instead, you must see failure as a learning opportunity; you must embrace failure as an opportunity to learn something you never knew.

“Only those who are asleep make no mistakes.” – Ingvar Kamprad

Has there been any billionaire without a stint of failure? My answer is a resounding no. All the billionaires I can think of has been through some sort of failure; from Donald Trump, Henry Ford, John D. Rockefeller, J. Paul Getty to Bill Gates, Oprah Winfrey, Larry Ellison, Ray Kroc and Sam Walton. So if you want to join the league of billionaires; then you must embrace failure and take giants strides without the fear of failure.

“I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Edison

3. Increase your Risk Bearing Capacity

Risk bearing capacity is another critical difference between the average individuals, the millionaires and the self made billionaires. Show me a billionaire that avoids risk and maybe I will show someone who became a billionaire by inheritance. What I am trying to explain in essence is that there is no self made billionaire who started from scratch that made it without taking a certain amount of risk.

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

So if you are going to develop the mindset of billionaires, then you must increase your risk bearing capacity.

• How willing are you to take risk?
• Do you avoid risk?
• How do you react when presented with a business or investment opportunity?

Your answer to these questions will determine if you will hit the billionaire status or not. Now how do billionaires handle risk? In the world of business and investing, it’s a known fact that risk can never be completely eliminated. Risk is part of the game of money and billionaires know that the chances of success or failure in any investment is 50 – 50.

But instead of billionaires shying away from promising investments, what they do is to assemble a business team and put up a strong risk management policy. Billionaires don’t fear risk, instead; they act with a hedge to curtail their risk factor. So if you are going to think like a billionaire, then you have to develop your mindset to handle risk.

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

4. Model your Thoughts after the Billionaires

This article was specifically written to help you develop your mindset and think like a billionaire but before I share with you tips on how you can model your thoughts after the billionaires, I want to ask the following questions.

• Do you think big?
• What do you do in the face of challenges?
• Are you an optimist or pessimist?
• Do you have a billionaire mentor or role model?

The questions I asked above are not for fun; their answers hold the pattern your thoughts will flow towards. To model your thoughts after billionaires, you must put yourself in the shoes of the billionaires when faced with problem or challenges.

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

For instance, when I am presented with a business opportunity that looks a bit risky; all I do is to simply close my eyes and ask myself:

“What would Richard Branson do if presented with this business opportunity posing as a problem.”

This is exactly the strategy I use to model my thoughts after billionaires. When negotiating a deal, I think Donald Trump and when it comes shrewd cash flow management or critical resource management; I think Ingvar Kamprad. So if you are going to develop your mindset and think like the billionaires; then you must model your thoughts and actions like those of billionaires.

5. Seek out Problems

Do you know what set billionaires apart from the average individuals and millionaires? Well, I am going tell you. Billionaires are problem solvers; not just any problem but complex problems. Billionaires became billionaires because they seek out problems that others don’t want to be involved with. They move in when other are fleeing; they buy when others are screaming “the sky is falling.”

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

“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

Critical problem solving is the ultimate reason why poverty stricken individuals like Andrew Carnegie and Henry Ford rose to become billionaires. Take a look at the billionaires of today and you will see that they strive to solve problems that we don’t want to be associated with.

Bill Gates and Larry Ellison are experts at solving software problems; Donald Trump is an expert at solving housing problems or Real estate problems and George Soros, Sir John Templeton and Peter Lynch are experts at handling stock market volatility. J. Paul Getty and John D. Rockefeller solved the problem of oil drilling and distribution. Henry Ford solved the problem of automobiles affordability, Andrew Carnegie solved the problem of mass production of steel.

“In the end, you are measured not by how much you undertake but by what you finally accomplished.” – Donald Trump

That’s brings me to the last questions of this article:

“What are you an expert at? What problems are you good at solving?

If you are going to become a billionaire, then you must think like a billionaire and thinking like a billionaire entails that you must be good at solving other people’s problems. So when others are screaming “stay away, the end is near,” you should instead be asking yourself; “what can I do to address the situation.”

This pattern of thinking is called the process of “turning lead into gold” by the ancient alchemists. So if you want to develop the mindset of billionaires; then become a critical problem solver and your financial status will never remain the same.

“Behind every adversity is an opportunity. If you lament over the adversity, you will miss the opportunity.” – Ajaero Tony Martins

As a final note, I want you to know that becoming anything in life begins with the mind. So if you want to change your thinking pattern to those of billionaires, then implement the steps above and I will see you at the top.

When I decided to leave my own corporate job years ago to pursue the culinary arts, I couldn’t think much further than doing what I love on a daily basis: cooking. But it soon became clear to me that leaving the safety of one career to take up another is not quite that simple.

Doing something you love will make you work harder at it, but that alone doesn’t mean you have a good business. Hard work, ultimately, has to meet with the right opportunities, and that’s where entrepreneurial spirit can come in, allowing passion to meet real business sense.

My own journey in the kitchen has taught me innumerable lessons that extend far beyond time and temperature. If you are looking to change yours, here are some tried and tested lessons I can share:

1. Treat goals like recipes. Remember to take it one step at a time.
It’s easy to get mired in the day-to-day, and though you may be doing something you love broadly speaking, that doesn’t mean you will love it all the time. Segmenting my goals and having a clear vision has allowed me to stay calm and focused on the process. Keep your ultimate objectives in mind, but try to appreciate and not look past where you are today. I often remind myself that I'm always learning and getting a little closer to my dream.

2. Get to know the people who came before you.
When I changed careers, I studied star chefs like Jean-Georges and Thomas Keller as well as people with successful food and lifestyle brands like Martha Stewart and Giada de Laurentiis. I wanted to better understand the landscape as well as the successes and mistakes these guys had made. I never expected to take their exact path, but I did gain an understanding of what went into their level of achievement.

3. Always have something to offer.
I do a fair bit of traveling, learning from chefs and home cooks around the world. When I visit a new location, I like to shadow cooks in professional or home kitchens to learn their techniques and dishes. This has been a huge challenge as both a foreigner and a female. I usually start small, asking if I can watch service for the day. In exchange, I offer to prep and make something, whether that be the staff’s family meal or a recipe the chef may not know. Taking a little more time to build trust and having something to offer helps open people up more.

4. Seek help from those who do it better than you can.
Use your network and resources thoughtfully. If you don't have a skill, you likely know someone who does. For example, I wanted to photograph the recipes from my book myself but I wasn’t a pro food photographer. I bought a great camera, reached out to a talented photographer and friend who was willing to teach me and prepared myself for trial and error.

5. Prepare to be uncomfortable, both physically and mentally.
Some of the greatest lessons and most gratifying experiences have come from times when I wasn’t entirely comfortable with what I was doing. I'm not just talking about having to lift 80 pound vats of stock in some of the kitchens where I worked. When I signed on to write my first cookbook, I was pregnant and already working full-time. I had to write, cook, test and photograph the entire book. This idea terrified me. There were days when I was so exhausted it was hard to get off the couch. But the book is done and will be out this year.

It just goes to show: When you’re pushed, you push back. Rise to the occasion because success might be waiting around the corner for you.

10 Signs Your 30s Are Going to Be Awesome

COMMUNICATION MOTIVATION BY MEDHA BN

Hey—now is the time to stop dreaming and start accomplishing. Time to grow up and get going. Your exciting 20s will soon be gone and your practical 30s will start.

Your 30s are a special time: There are complications but there are achievements. There are challenges but there are winning moments. There are clichés but there is newfound organization and clarity.

One thing is for sure. If you have the right attitude, your 30s will be wonderful. It’s the phase of life where your personal growth will see its peak. The mistakes you made and the experience you gained in your 20s will only polish you.

Here are 10 signs of happiness and why you should celebrate and welcome your wonderful 30s with sparkling smile on your face.

1. You don’t care as much what other people think about you

In your 20s you rebelled against everything—even things you secretly liked.The message was: stop trying to guide me. You told your folks that you weren’t a teenager anymore. You started making your own decisions about what you want from life in life. There were a lot of things you wanted to say “no” to.

If that describes you in your 20s, it’s a good sign that you’ll stop seeking approval from other people so much in your 30s. In fact, you’ll find that you have to stop. If you do, you’ll be an independent and confident person in your 30s. Maybe you’ve made your share of mistakes but you’ve learned your lessons.

2. You finally figured out what your dream job is

If you’re not happy in your late 20s with your job or the way things are turning out in your career, it’s pretty normal. Maybe you weren’t clear back in college about the academic path that would resonate with you, or you discovered your passion late. Or maybe you landed a job just because you managed to impress the interviewer. You wanted enough cash to pay the bills, go out, and enjoy your twenties. Eventually—finally—you figured out what/where you actually want to be professionally.

You’ll now strive hard to make that dream come true in your 30s. You’ll learn to plan your career moves and settle for nothing less than your ideal job.

3. You actually care about 401(k)s and savings plans

In your late 20s, you start to repent some of that impulse shopping you did, or the money you exhausted on booze and weekend getaways. Your dream assets are used to be a fancy bike, limited edition designer jackets, high heel stilettos, or a Louis Vuitton collection. Now you want to buy a beautiful house or your dream car. But are running out of finances.

That’s why you’ll plan your 30s fantastically. You’ll be financially more stable by saving a huge chunk of your income to support your dream asset. Maybe you’ll even learn how to manage a 401(k) or buy a retirement plan.

4. You stop kidding around

You’ve started avoiding clubbing, partying and binge drinking on weekdays. You’re not in the mood to upset your boss with hungover mistakes or with drowsy eyes the next morning.

You are settling into a life track. You now make sure to do certain things (read: partying) only on weekends. Or even better, you decide to spend your weekends doing more interesting things. Once you hit your 30s you’re going to rock in your professional life.

5. You figure out health is the way to wealth

Even in your 20s, with all the fun and bingeing, you might start getting concerned about your waistline. But hitting the gym or jogging every day still looks like something for losers.

Sooner or later though, you’ll start thinking about making your workouts fun. You’ll want to be more fit only because you love your body. Weekend hiking, swimming, sports like baseball, rugby, or roller derby—they all start to sound amazing. You’ll be much more creative about how you exercise in your 30s!

6. You’ll be wise and responsible

Falling short with finances for your dream asset, major considerations on relationships or extending your family, not fitting into your sexy outfits—all these things may have started worrying you but are actually good for your 30s!

You will slowly but steadily stop draining your pockets. You will do your laundry regularly rather than buying new underwear every month. You will learn to cook yourself healthy meals to avoid extra calories and save some money. You’ll be wiser and responsible winning hearts of your loved ones.

7. You’ll see that hobbies and a career can go hand in hand

Your job, your bills, and your responsibilities have started taking a toll on you. So you’ll look back at that list of passions which everybody suggested to drop since they didn’t earn you money.

You’ll pursue your hobbies, educate yourself about the technicalities, take classes if necessary. Whether it’s a simple hobby like painting, gardening, or learning to cook a new cuisine, or something thrilling like paragliding, mountaineering, or learning a new dance form, you’ll be smart enough to manage your career and at the same time not to leave behind your passion.

8. You’ll see that life is what you make it

Are you like, “Holy crap, I’m gonna turn 30 soon and I’m freaking out because I still haven’t left behind the younger, sillier me”?

Don’t you worry about it! Your 30s will teach you to embrace life. After all, you’re in the realization phase of life. You’ll accept life for what it is (and what it isn’t). It’s only you who can make it interesting and productive. Your life will be what you make it.

9. You’ll reap the rewards of true friendship

You are a friendly person and love to be surrounded by good people. You’re investing in new friendships and hanging out with new people. You’re really there for them through thick and thin.

Good job! Friendship is not only about emotional satisfaction. It also brings a lot of advantages. You’re not only having exposure to different personalities in the world but also are building a huge network which is essential today. You’ll be a better “people person” in your 30s with a lot of positive connections.

10. You’ll travel the world for insights

You’re traveling east and west, north and south. You’re exploring the world by visiting different countries, looking at nature, experiencing cultures and getting to know people.

Great! You’re only adding to your personal library of knowledge and insights. You’ll be able to understand life and its values. You’ll get a clear picture of your life in your wonderful 30s. A better person, a better parent, a better employee/employer. And more importantly,  you’ll be a better soul.

Conclusion: You might feel like you are going to have terrible years ahead because you’re on the verge of turning 30! But the good news is you’ll actually feel otherwise.

You will tantalize yourself, you’ll know yourself a little more, you’ll learn to appreciate yourself and also you’ll learn to teach yourself lessons at times. If this is not enough to keep your spirits high while you’re stepping into a new decade, then just keep adding to your already-rich experiences.

Featured photo credit: Viktor Hanacek via picjumbo.com

15 Highly Successful People Who Failed On Their Way To Success

PRODUCTIVITY BY SEBASTIAN KIPMAN

Before their success, some of the world’s most successful people experienced epic failure. We celebrate their success but often overlook the path that got them there. A path that is often marked with failure.

Their crowning achievements stem from drive and determination as much as ability. Persistence and certitude are the difference between success and failure.

Here are 15 highly successful people whose glorious succeses are remembered but their failures are lesser known.

Get motivated, accept failure as merely a chance to learn, and remember the words of American writer Elbert Hubbard:

“There is no failure except in no longer trying.”

1. Oprah

She’s a billionaire with her own TV channel and a penchant for giving away cars but Oprah Winfrey was fired from her first TV job as an anchor in Baltimore.

Last year, Oprah reflected on her experiences during a Harvard commencement speech:

“There is no such thing as failure. Failure is just life trying to move us in another direction.”

Creating your own TV channel is a sure way never to get fired again!

2. Steven Spielberg

His cinematic output has grossed more than $9 billion and brought him three Academy Awards, but the master of the blockbuster was rejected TWICE by the University of Southern California’s School of Cinematic Arts.

As their way of saying “Oops, I guess we were wrong about you” the school built a building in honor of Spielberg.

3. Thomas Edison

In what might be at once the most discouraging statement and worst teaching practice of all time, Thomas Edison was told by his teachers he was ‘too stupid to learn anything’.

Edison went on to hold more than 1,000 patents, including the phonograph and practical electric lamp. Death most likely spared his teachers the ignominy of their incorrect assessment.

4. Walt Disney

Can you imagine your childhood without Disney? Well it could easily have been if Walt had listened to his former newspaper editor. The editor told Walt he ‘lacked imagination and had no good ideas’. Undeterred, Old Walt went on to create the cultural icon that bears his name.

Disney’s take on failure:

“I think it’s important to have a good hard failure when you’re young… Because it makes you kind of aware of what can happen to you. Because of it I’ve never had any fear in my whole life when we’ve been near collapse and all of that. I’ve never been afraid.”

5. Albert Einstein

His name is synonymous with intelligence yet it wasn’t always that way for Albert Einstein. As a child he didn’t start speaking until he was four, reading until he was seven, and was thought to be mentally handicapped.

He went on to win a Nobel Prize and altered the world’s approach to physics. I guess he was just thinking of the right thing to say for those first four years…

6. J.K. Rowling

Before there was a wizard, there was welfare. Rowling was a broke, depressed, divorced single mother simultaneously writing a novel while studying.

Now one of the richest women in the world, Rowling reflects on her early failures:

“It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all – in which case, you fail by default.”

7. Abraham Lincoln

Lincoln’s failures were broad and numerous. He achieved the unique feat of leaving for a war a captain and returning a private (the lowest military rank).

He next took failure in his stride during multiple failed business attempts. Undeterred, Lincoln marched into the political realm, where he launched several failed runs at political office before his ascendance to President.

8. Jerry Seinfeld

Before the show about nothing, Seinfeld was a young comedian on the stand-up circuit. His first time on stage didn’t go so well. On seeing the audience he froze and was booed and jeered off stage.

His choices: pack it in and accept comedy isn’t his thing or return to the same stage the following night and have the audience in hysterics. He opted for the latter and went on to become one of the most successful comedians of all time.

9. Theodor Seuss Geisel

Known to generations as Dr Seuss, the much-loved children’s author had his first book rejected by 27 different publishers. His books that weren’t good enough for these publishers went on to sell more than 600 million copies worldwide.

10. Stephen King

In another instance in the never ending series “Book Publishers Making Dumb Decisions”, mega novelist Stephen King had his first book Carrierejected 30 times.

Dejected, King dumped the book in the trash. His wife retrieved it and implored him to resubmit it which led to his first book deal and spawned his illustrious career.

11. Vincent Van Gogh

A Van Gogh painting will cost you upwards of $100 million nowadays. But in his lifetime, Vincent Van Gogh couldn’t get rid of the things.

He sold just one painting, ‘The Red Vineyard’, during his lifetime, and the sale came not long before his death. Unfortunately for Vincent, others got to enjoy the financial spoils of his lifetime of toils.

12. Elvis Presley

“You ain’t goin’ nowhere, son. You ought to go back to drivin’ a truck.”

These are the words that greeted Elvis Presley after his first performance at the Grand Ole Opry, after which he was promptly fired. Disposing of the keys to the truck, Presley went on to become the world’s biggest star with a legacy that endures.

13. Michael Jordan

Either he was part of the greatest high school roster of all time or his coach made a huge mistake in cutting Michael Jordan from his high school basketball team. Six Championships and five MVPs later, Jordan became arguably the greatest basketball player of all time.

Jordan famously said:

“I have missed more than 9,000 shots in my career. I have lost almost 300 games. On 26 occasions I have been entrusted to take the game winning shot, and I missed. I have failed over and over and over again in my life. And that is why I succeed.”

14. Charles Darwin

The man credited with much of how we came to understand the world today, Darwin was considered an average student and abandoned a career in medicine as a result.

Darwin embarked on a lifetime study of nature that led to the seminal ‘On the Origin of Species’ and forever altered the way humankind looks at our existence.

15. Sir James Dyson

You know that frustrating feeling when you don’t get something on the first attempt?

Multiple that by 5,126 because that’s the number of failed prototypes Sir James Dyson went through over the course of 15 years before creating the eponymous best-selling bagless vacuum cleaner that led to a net worth of $4.5billion.