1. Billionaires start small
Billionaires were not born to be 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 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 dreamt 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. 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 focused on computers; 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; the richest black man in the world
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
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.
