The minute someone initiates a conversation about the billionaire, names of Bill Gates, Jack Dorsey, Elon Musk, Warren Buffett, Jeff Bezos, Mark Zuckerberg, etc. snaps in our mind.
Every time we talk about them, there is one thought-provoking question: What makes them a billionaire? What is that secret sauce that led them to achieve the pinnacle of success and wealth creation?
As rightly put by Steve Siebold, “The only person who can teach you how to think like a millionaire is a millionaire”. And the same applies to billionaire as well.
It is quite startling to know that there are only 2043 billionaires in the world (Source: 2017 Forbes list of billionaires). And that is, just 0.000027% of the world population!
These ultra-successful people cultivated the right habits on a daily basis which resulted in matchless success and fame.
Habits that make a billionaire
We have listed few qualities which are common amongst all the billionaires. They may not sound strenuous and impossible, however, the trial lies in being dedicated and consistent with these traits.
Doing Things Differently
The mere fact that just 2043 out of 7,600,000,000 people in this world are billionaires proves that they are doing something different.
As rightly said by Shiv Khera, “Winners don’t do different things, they do things differently.”
They are open to following a radically different path, breaking the norm, and doing things differently, efficiently, and most importantly, profitably. And if this means stepping out of their comfort zone and being an independent risk-taker, then so be it.
Look at the highly successful people around you. They have envisioned a goal that is ahead of its time. They are always scouting for ways to disrupt or innovate the segment in which they are operating. They are highly pro-active people who are just not ready to leave things to chance. The vision to think and plan long-term differentiates them from the rest.
Multiple Source Of Income
Perhaps the most underrated quality, yet the trait which creates a humongous impact on their wealth which makes them the billionaire in the first place. They are fearless and audacious because they have funds flowing in to their bank account via long term investments, part-time job, start-ups, etc. They believe in making money work for them. After all, the book ‘Rich Dad Poor Dad’ encircles around the same.
Planning & Prioritizing
Before going to bed, these people dedicate few minutes to make a plan of action for the next day. A hallmark of many of these billionaires is adherence to self-chosen, well-thought and prioritized routines. This helps them to distinguish the tasks which demand immediate action. Prioritizing helps you to stay on track so you don’t lose time on meaningless trivia. This is also one of the reason behind their high levels of productivity and focus.
They Chase Their Passion
There’s this popular quote by Napoleon Hill, in his bestseller, ‘Think and Grow Rich’ which says: “No man can succeed in a line of endeavor which he does not like.”
These billionaires have a reason to relentlessly give their best shot, as they absolutely love what they do. For them work is no longer a work, it’s a deep sense of satisfaction to pursue what they are passionate about.
Learning, Listening and Observing
Most people think that the learning stops when the school/college ends. But that’s not the case. There is always a room to learn and grow. And that’s what the billionaires do. But how they manage to do that? Firstly, they are by default inquisitive in nature and are ready to learn new things. They are avid readers, good listeners and strong observers. This helps them to become a pro in their field and stay up to date on what’s trending.
The old adage, “Early bird catches the worm” is apt here. They have a fixed routine which helps them to follow a disciplinary approach towards personal and professional life. Now when we say early, doesn’t mean 6.00 a.m. Most of these billionaires wake up as early as 5.00 a.m. and focus on important tasks when the ambiance is most serene. Now that’s the clandestine we revealed so you can get more done before 10 a.m. just like the billionaires.
Along with the innumerable health benefits, meditation helps you to keep a check on your emotions. This helps us to take rational decisions backed by facts, logic, and common-sense. Many billionaires such as Jack Dorsey practice meditation on a daily basis.
The Act of Gratitude
There’s definitely some meaning behind when people say, “What you give, comes back to you.”
It’s no secret that Warren Buffet and Bill Gates are working hard toward philanthropic causes and are inviting others to positively impact society through their wealth.
They Are In A Company Of Smart People
It is said that we are the average of the five people we spend the most time with. Most billionaires understand this. In fact, even if you do a self-assessment, you will realize that you are the average of the five (or a similar small number) people you spend the most time with. Thinking alone and all by yourself can turn you into an echo chamber. You need a different perspective. For this, having smart people to talk to can work wonders as they will be both a critical eye and a sounding board for your ideas. They will also challenge you to look at things in new ways.
There is no doubt that the above-listed habits/traits have helped many people to become billionaires or ultra-successful. But does it mean that whosoever has all these habits will become a billionaire?
Of course not.
We need to understand that these habits help successful people realize their full potential and use their core skills to do what they are really good at.
The increased awareness about our strengths, weakness and impact of our decisions can help anybody to achieve their full potential. Instead of waiting for good things to happen to them, they take actionable steps every single day to move closer to the finish line.
Related investing topics
Read more: How Long-term investing helps create life-changing wealth – TOI.