So you want to become a billionaire huh? Well if it was that easy maybe everyone would be a billionaire, and even still, life does not work like that;
For life to make sense, we need the rich and poor. Well at least according to the law of polarity. Being rich would lose meaning if we were all rich or if we were all poor, so the balance between the rich and poor is needed
This article could have also been titled how to become a millionaire or how to become rich but since it is not easy to become a billionaire, if you fail, you will at least you will become a millionaire and if you fail to become a millionaire at least you become rich
This is because you can be rich even if you are not billionaire though it would be debatable if you can be rich when you are not at least a millionaire
So the bar was set that high. There were 2095 billionaires by March 2020 out of 8 billion people, but at least there are 46.8 million millionaires which shows its easier to become a millionaire
The following tips observe what the top richest people in the world have in common and at the end of this article you will realize why is not easy to become a billionaire neither is it your fault that you are poor because some of the points noted are not easy to fix but they are your route to becoming a billionaire
This article was was also written while prioritizing working smart other than working hard.
1. You should be blessed or at least lucky
This is the most important part of the success that no one has control over but you really need the odds to be in your favor. “Everything in life is luck” – Trump
There are lots of things we don’t control but they largely do influence our destiny. If you are cursed, well whatever you do will fail and if you are blessed, you will not need to try hard as everything will go in your favor
Here is how blessings or luck is important;
You need intelligence and wisdom to think and created a multi-billion project and that is not taught but you are born with it
Talent is crucial for you success but that’s not in born though can be learned
Being born in a rich family is luck or a blessing because your parents can provide you with capital to start a business or make your business idea a reality and no one can decide who their parents will be
Most business ideas if not all do require some capital and you cannot not start them with no money
And even your country of birth could fuel your billionaire dream based on how you take advantage of your country’s economy. US and China top the billionaires’ list and they also top the world’s economies
All the examples above and more can be the line between your success and failure but none of them are within your control
Even though something beyond your control was included, there is something about it you can control;
For example “Opportunity comes to those who are prepared”. if you study engineering and a job vacancy about engineering presents its self, you will be able to cease it because you prepared yourself for it.
And ‘luck is what happens when preparation meets opportunity” So doing any of the things on this list will be preparing you to the take advantage of the opportunity when it comes
2. You should solve a problem
Well, you want to get rich. Solve the problem. Sounds easy, right? Well it’s not because you have to think and find a solution to a problem and thinking does not seem to be something people love doing but that’s it.
(some people create a problem and sell the solution i.e. create a disease and sell drug but I wouldn’t recommend making money that way)
Find a problem affecting people and find a solution to it. Then boom you will a billionaire because you will charge people to use your solution.
Jeff Bezos could become the first trillionaire. But that’s because he’s solving a problem. During the COVID-19 lockdown Amazon hard a lot of online orders because people needed supplies to use every day during the lockdown.
They were not allowed to move out of their homes unless buying something. This led to an increased demand for online orders which orders are actually paid for which actually made him richer than he already is.
Now this is also where luck comes as Jeff didn’t start the COVID-19, its a problem that worked in his favor since he had a solution
You would also realize all the richest franchises or companies are solving problems
3. Meet people’s demands or needs
You can make money from providing people with what they want at a fee. This is the most direct and simple way to become a billionaire
If people want cars from Germany then you give them that. The fact that they could also be demanding or seeking for a particular product also means they have the money for it.
Why would you want to sell goods no one is interested in and why would people demand for goods they cant afford
Even though I said this is easy, you still have to do some market research and take a very well calculated risk
You can also never go wrong when you meet people’s needs because the demand is always going up,
This is where Warren Buffet falls, dealing and investing in a wide range of products that people use every day like restaurants and food processing because people eat everyday, real estate as people shelter too
People want and love free things and if they cant have free things they will opt for cheap things. This is why Toyota has the highest number of car market share in the world around the world and also the reason Huawei and Samsung devices are the most used in terms of market share too
In the same aspect, if you provided quality services at a cheap price, people are very much likely to buy from you but if you keep making poor quality cheap products, in the long run, people will opt for the strong better and durable expensive products
This also implies that selling a commodity to a high class social group as your target market could also make you money
4. Be the first and Monopolize
Well monopolizing does not literary mean hiking the prices but you will realize some of the richest franchises are in monopoly with little to no competition
You will also realize most of the richest franchises or people where the first or among the first of their kind to produce a particular service of commodity they are selling
If you are the first person to make a time travel machine which would ease the problem of transport then you will be in monopoly because you will not be competing with anyone and your brand will grow stronger
The strongest social networks today where among the first ones of their kind to be made and right now it’s very hard to create a new social network because the existing one are already delivering
It’s hard to start a phone company and compete with the big brand that have established their names
Apple and android where the first smartphone operating systems and they are running the duopoly alone.
This brings us to the next point
5. Innovate (Add something new to the table)
Since we have seen that most of the things have been created then you should add something new to the already existing products.
This again requires you to think as you will not improve any existing product without thinking.
So if there are already enough smart phone companies and enough car companies. When you make yours, your add something new to make people demand for it
For example, the first smartphones came out in 1994 for public purchase and phones have undergone modification until the 2007 Steve Jobs breakthrough to a new era
And by the way, most the things we are using today have been just modified over time from cars to airplanes, smartphones, name it and these are billion-dollar projects
So if you can modify something already preexisting and make it better then you could become the next billionaire
During the press conference to announce NOKIA being acquired by Microsoft, The Nokia CEO ended his speech end saying ” we didn’t do anything wrong but how we lost”, Upon saying that all his management team, himself included teared sadly.
The this sums up some of the points here, either Nokia was unlucky, Nokia was affected by the duopoly of android and apple or Nokia failed to innovate something new to match competition or go with the forces of change or even failed to make users happy so they moved to products that matched their needs and demands
6. Make people happy through Entertainment
We all know how rich football stars, actors’ musicians and all celebrities are worth. Even though some do run bankrupt at times but well so do other rich people.
The number of people that become billionaires in this category is low just like the number of billionaires around the world but majority of them are millionaires
The services provided by this category of people make people happy that’s all and people need and want to find happiness in all sorts of ways from all sorts of places and one way to make that happen is through entertainment
You need to also be a natural at what you are entertaining people in or at least be good at it otherwise no one would want to watch you bore them
So you want to get rich. Well use your talent to make people happy and entertain them and they will pay to watch you
On the hand people work hard and relax to enjoy their hard-earned money by seeking all forms of entertainment like going to the beach, watching movies, or visiting different places which entertainment services they pay for
7. Create or Invent something new
This should be the first but decided to save the best for last. If you think its easy to invent or create something unique, Think of any anything and Google it. You will be surprised it already exists
One way I can guarantee you will be billionaire or at least rich and achieve your goals or success is by inventing something new
All of the things we are using today that are man-made we all invented by someone. Even though some of these inventors or founders never get to see how they changed the world, some of them today have got to see the twilight of their inventions or creations
Well Zuckerberg has seen face book through the years
Bill gates has seen Microsoft
And even Larry page and his counterpart have gotten to see Google thrive
These inventions have greatly changed the world in that we can hardly do with out them even though before they were created life was okay and they wasn’t a need or demand for them
All those projects where created by thinking and not necessarily taught at school.
School gives you information that makes you knowledgeable but it does not give wisdom or intelligence to think.
It’s entirely up you to use the knowledge you have gotten from school to invent or innovate something new
It’s hard if not impossible to do all of those and you don’t end up a billionaire. You will also realize they all go hand in hand.
You need to think to create something that people will buy and that has to solve a problem and that problem should make people happy with satisfaction at the end of using it and with time due to increased demand your innovation could be modified and made better
And if you don’t have capital to start a business, having an idea is 50% half way there and if you have capital and no idea, you are also just half way the journey
Having capital and and idea is all you need to get achieve your billionaire dream.
And how to get capital is all another topic of its own but for a start get a job and manage you salary finances well