What does it take to be a billionaire?

Person standing next to a billion dollars.

Shaun Rein, a great person who replies on twitter too!, is the head of the China Research Group.  He had an interesting article on what it takes to be a billionaire. Obviously, that caught my interest as it is in the list of things I plan to do.

I like his writing style and in this he explains what is observed as a common pattern among billionaires (besides luck and timing). I firmly believe that a person who strikes hot one time was smart enough to ride a wave. Like a lot of these online marketing gurus are doing these days. But to consistently do it AND to have liquid cash in your bank is where the real deal is at.

Shaun brings in a good point to billionaires (and that applies to larger than life celebrities – Not including the internet online marketing social media hacks in this).

While almost everyone we interviewed said luck and timing played a role in their success, we found some other similarities in their responses, too. Most of the truly rich, perhaps surprisingly, are not that different from you and me. They have the same fears about their children and their health, and the same desires. But we did find some differences.

We narrowed those differences down to three secrets of the truly rich that most of the people we talked to said had helped them get to where they are:

The three secrets are.

1)  Never be Afraid of Failure: Many of the billionaires chose the road less traveled and more important the route harder to travel but offering the greater reward. Even if you fail, get back on your feet real quick.

2) Look creatively at problems so that your solution is non main stream: Great story here. Ever passed by a petrol pump? Ever stopped to buy chips, sometimes even have a coffee while you are on the move? Do you know the creator of this “concept” was ridiculed many many times before he sold this idea. He’s laughing at those critics today with 5 personal jets. Those critics have found a new persons ideas to laugh at.  The billionaire wanted people to spend more time at his petrol pump. An important point here is not be an idiot in being different, such as saying: Walk on your feet, it’s the new black. Not.

3) Marry well: He writes this better, so I’m quoting him.

Starting a company or running a conglomerate takes a lot of sacrifices. The stress can be a killer. Having a good spouse to support you and, most important, believe in you as you struggle to the top is critical.

Heh. I don’t think this is a P1 item. But someone who fits your wavelength is important. The physical deteriorate and settlers never do anything. Neither do gold diggers.  I recommend the read by Shaun, hit it up here.

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