Things Billionaires Won’t Tell You
Following are the things that billionaires won’t tell you:
Perfection will bankrupt you
It is the main thing that people won’t tell you many motivational speakers will tell you that you need to work, work, and do more hard work to achieve success but the direction is not defined and many genius people fail to achieve success.
For example, two people open a retail store one is a bit genius and another one is an average mind person. The Genius will think of ad campaigns, management tools, and designing but the average mind person will first think to make a profit then he will consider things like shelving concept that is how things to be placed in an order that related products are placed closely like a customer who visits your store to buy bread he will also need butter so they must be placed closely so that customer buys both of the items. Meanwhile, the genius will be spending time in making things perfect then start selling and on the other hand, the average mind person will be selling in provided resources from day first. Perfection will lead to failure of genius and the plans of an average person with flaws will eventually lead him towards a successful business.
Bottom Line in business first thinks of profit to cover your costs then think of adding gadgets to streamline and automate your business.
Investing in stocks won’t make you rich
There is a lot of hype that the current top billionaires are rich due to investing in stocks and holding shares of profitable companies. That is not the case the billionaires are billionaires due to their startups not due to their investment in stocks and shares of other companies
Millionaires are afraid of divorce
Rich people are afraid of their divorce as when Bill Gates had to pay half of his entire wealth to his spouse. So they are afraid of accidents that is why they do insurance for each and everything they own even their body parts are insured so they won’t face a loss in the future and if that happens then they must be compensated to cover the loss.
Spend less than they earn
They are always found spending on those things which an ordinary man could even think of like buying a $5000 purse is like they are buying biscuits from a local retail store. If Jeff Bezos is buying a new Bugatti Chiron for $3 million then he is not even using 1% of his total wealth so they are always spending less than they actually earn.
Debts to be paid as a full
Debts to be paid as a full in a month as if you will not pay accordingly then it might result in losing assets. Like smaller problems, if not solved will combine to generate bigger problems. People only get rich when they pay all the debts in full to avoid any further complications. And taxes should be paid from profits to balance your monthly expenses and only then you can save money to invest where required.
Never have a single source of income
In order to be rich first rule is to never have a single source of income. Billionaires are billionaires as they have multiple sources of income they never rely on a single source to earn their living. One source is dedicated to just covering their daily expenses while other sources are dedicated to covering any urgencies and savings for future investments.
Buy time of others to save their time
They are aware that 80% of talent is being wasted so they provide such opportunities that create a win-win situation. They hire people to do their daily tasks and assign them roles to manage their business and in return they get money. Like “Sunder Pichai” is CEO of Google and is paid a huge amount of salary only due to his value providing to the company. He is paid $2 million as a salary but Google is making 121 million dollars per day profit only from ads. So he is paid not more than 0.016%
Modesty and not to impress other people and did not care what people think
Stop acting rich
You won’t get rich by just hard work if people would get rich by just hard work then the typist or a clerk would be a millionaire who types hundreds of words in a day at 40 words per minute (WPM). It’s all about luck and how you
Invest in things they understand not what they think it’s cool to invest in Keep it simple principle.
Always be generous
Outrageous Generous, always investing and enjoy your money give more in a month than you earn in a year to keep balance in your spiritual and financial life
Provide Value to their clients they know how to project themselves in front of you won’t get right first they know how talents are wasted in the market so they buy their hours. Only those businesses flourish which provide value to their customer. The value in return can make you rich work for people so the money will work for you. To multiply yourself, you need to invest in people who will multiply your profits and value.