The “three-comma club” consists of those in industry, art and commerce who have achieved the exclusive honor of reaching a net worth of more than one billion dollars. From Rockefeller to Gates, members of the club include people who have truly altered the world. To achieve this level of success requires hard work, dedication and a little bit of luck.
Fortunately for the rest of us, these men and women have shared some of the techniques that helped them achieve membership in the exclusive billionaires’ club.
Never Be Scared To Fail.
Failure is not something that you expect the most successful entrepreneurs to have experienced much of. However, all billionaires have experienced failure, sometimes catastrophically. The difference between those who thrive and those who don’t is that those who thrive failed better. As Bill Gates said, “It’s fine to celebrate success but it is more important to heed the lessons of failure.”
The other aspect of becoming a billionaire is setting the right goals. Coming up with those ideas that are worth pursuing means thinking outside the box and seeing value where others do not. The ideas that created billionaires have been those that pushed the boundaries. This means pursuing one’s idea and having faith in a vision when others are skeptical or even hostile.
Take Care Of Yourself.
No billion-dollar effort gets off the ground without a healthy and willing personality behind it. As fitness expert and personal trainer to billionaires Samir Becic says, “I truly believe that in the 21st century, in order to excel in the world, you have to be fit and healthy.” Billionaires from the founder of Under Armour to 86-year-old George Soros all emphasize how important personal health is to them.
Be Prepared For Opportunities .
You may be surprised that luck is embraced by these hard-working, motivated people; however, it absolutely plays a factor in becoming a member of the billionaires’ club. As Mark Cuban, who sold his company Broadcast.com for $5.7 billion in the 1990s, openly admits, “Being a billionaire requires a lot of luck, a lot of great timing.”
Now, it’s obviously foolish to depend on luck for success. However, the ability to quickly and correctly recognize opportunity when it is presented to you, the flexibility to change course if required and the preparation to rise to the occasion all are vital in taking advantage of what would be considered “luck.”
Know your priorities.
Health, happiness and financial security, in that order, were the three top priorities of millionaires, according to a 2015 US Trust Survey of 640 high-net-worth individuals with at least $3 million in investable assets.
While the financial and professional goals we set for ourselves are crucial to success, it is also important to remember why we are pursuing them. A billion dollars will achieve financial security, and possibly fame, but you should remember the other things in life that money can’t buy.
The Chairman of Nissan-Renault flies more than 150,000 miles a year. Serena and Venus Williams began hitting tennis balls at 6:00 a.m. when they were 8-years old. Marissa Mayer worked brutal 130-hour weeks while at Google. These stories of grit and work ethic define the journey to becoming a billionaire.
No matter the weather, day or time, for billionaires the only thing on their mind is the task at hand.