Thursday, 28 July 2016

How you can become a billionaire in one year in 7 steps



Becoming a billionaire seems like a great goal, but unfortunately it's only a dream for most of us. The thing is, many billionaires didn't start out as such. Some certainly had economic and educational advantages, but even without those, their smart decisions and business choices, plus a few characteristics that can't be overlooked, led them from Point A to Point B (Billionaire). So, what can we learn about our own real-life options for becoming billionaires? (More than 70 years after his death, this man remains one of the great figures of Wall Street. See J.D. Rockefeller: From Oil Baron To Billionaire.)
First things first: find a way to make money. Four of the most oft-methods of money making in the world of billionaires are inventing, investing, innovating and being an entrepreneur, but remember that how you pursue your billions is just as important as what you do to get them.

TUTORIAL: Starting A Small Business Tutorial
Do This: Invent
Inventing is a tough road to take, but if you've got the smarts to successfully create, patent, produce and market a product that people need (and thus, will buy in droves), you can build your future billionaire life on it. Successful inventions aren't necessarily complicated or high-tech items, either; James Dyson invented a better vacuum cleaner, and Gianfranco Zaccai invented a better mop, the Swiffer. Seems like things that help people clean more efficiently might be a good market to pursue.

Do This: Innovate
Innovation is the fine art of considering a current mainstream market and finding a creative way to improve the current offering. Successful innovators will identify the real needs behind customer demands, and will meet them with a smarter, better, more efficient product, or with a service that provides more than its competitors, or with a business that works in a way just different enough to stand out from the rest. IKEA founder is a great example of innovation leading to billions; furniture doesn't seem like a very exciting market, but his approach of providing modular, economical pieces with a modern flair from Sweden and other European designers and manufacturers to a global market has taken him all the way.

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