27 Jul The Mindset of a Self-made Billionaire

Everybody dreams of becoming a billionaire! From the majestic mansions and expensive cars to the exotic holidays; we’d pay anything to live like this. However, this flashy lifestyle does not come on a silver platter. Self-made billionaires and business gurus all seem to have one thing in common. They have a unique approach to life and this starts with their mindset. The following article delves deep into the thought process of successful minds to show how you can expand your mindset, manage your ideas and finally think like a billionaire.

1. Don’t Be Passionate, Be Obsessed

To be successful in life, it takes more than just passion. Billionaires believe that you have to be obsessed with the idea you have envisioned. If you sleep soundly before achieving it then you don’t have the DNA for success. The average person daydreams about having lots of cash but a billionaire analyzes his current state against the success of others with the aim of learning from them. He will stop at nothing and make all the sacrifices to get what he wants. In short, they don’t tell people around about their passion, they focus all their energy towards their goals until the people around tell them they are obsessed.

2. Pay Attention to Details

Transforming a tiny, crazy idea into a billion dollars does not only require an obsession but also paying keen attention to the slightest of details. No detail should be beneath you. An ordinary person dealing with a crisis he doesn’t entirely understand fails to ask what other people think because he doesn’t want to bruise his ego. On the contrary, a billionaire will consult widely and ask incessantly because he understands that knowledge is power. Most businesses fail because somebody somewhere missed some small detail during the early building stages.

3. Have A High-Risk Bearing Capacity

The ability to take on risks is another factor that separates average individuals from self-made billionaires. There is nobody who has ever made a billion without taking a good amount of risks. If there is, they have probably inherited it! A billionaire will jump at the smallest opportunity to invest. He is more concerned with things going his way than he is with the reverse. Billionaires don’t shy away from risks, no matter how huge. Instead, they approach them with a plan to diminish the risk factor. If you want to have that kind of mindset, you should always be ready to take a calculated risk.

4. Choose Quality Over Quantity in Relationships

Some people assume that the more people you meet and friends you make; the better! Unfortunately, this is not true for a billionaire. Having a small number of strong, more meaningful connections is way more important than filling your contact list with casual acquaintances. People with a billionaire mindset seek to nurture the kind of networks that will help propel them towards achieving big things. They are not interested in transactional networking; rather, having an in-depth engagement with fewer individuals about ideas they are really passionate about.

5. Find Interest in People Who Are Different from You

We usually discover more by interacting with people who are nothing like us. Billionaires don’t just seek to talk to and engage people that are at their social level; they are open to establishing relationships with individuals from all backgrounds of life. This helps them to get a wider perspective of life and understand it from different points of view. If you are an entrepreneur, your ideal co-founder should be someone who is totally unlike you and makes up for whatever skills you may lack in. Billionaires see the opportunity to learn from every situation and appreciate that depending on the context, anybody can be a “teacher”.

6. Have an Independent Mind

Billionaires don’t always flow with the crowd. They are not afraid to have larger than life ideas that may not be in consensus with what the majority are thinking. The thing is you can’t achieve extraordinary feats by thinking like an average person. Your dreams may seem crazy to people around you but this should not deter you from pursuing them. You need to have the arrogance to follow your gut because the world is full of naysayers who will do their best to discourage you from reaching your full potential.

7. Change Your Attitude Towards Failure

Billionaires have a resilient mindset, especially in the face of failure. While most people view failure as a sign of ineptitude or defeat, successful people see it as a learning opportunity. They don’t allow failure to deflate their efforts or undermine their conviction. Conversely, they embrace failure and pick up the positives from the experience.

To be anything in life, it has to begin with the mind. Similarly, to be a billionaire, you have to adjust your thinking pattern to that of a billionaire. The above article gives a precise guideline to how you can achieve this.