Some Key Points
Investopedia claims that if you choose being a Billionaire as a career path you should be able to Invent so you can create a product people need, they also suggest that you be an innovator to figure out creative ways of making an offering. Also suggested is that you should know how to invest and how to be an entrepreneur. Interesting other qualities that Investopedia suggests exploring incudes not quitting too soon and do not think you know it all.
Drive and Determination
Investopedia’s ideas make a lot of sense because like anything you might decide to do you do need to have a product, be an innovator, able to invent as well as not being a quitter. A lot of pressure isn’t it? A quality we would to the list is having drive. Because the only way you will achieve your goals is if you can continue and not quit is if you have strong motivation.
Are You an Extravert or an Introvert?
We also believe it is much easier for an extravert to become successful than it is for introverts. Extroverts can be loud and communicators whereas this is not the style of introverts. We are not saying you cannot make the big bucks if you are an introvert, but it does add an extra wall you have to breakthrough.
Input from a Source
We thought it was important since we are only just starting this journey that we talk about your goal of finding the promised land. What does it mean to be a billionaire? Money Crashers suggest that this is what a billionaire is:
“Simply stated, a billionaire is a person who has a net worth of $1 billion or more. In other words, if you can sell all your assets for cash, pay off your debts, and have $1 billion remaining in the bank afterward, you are a billionaire. Having $1 billion in assets with debts of $900 million doesn’t make you a billionaire, although you and your family are unlikely to worry about future college expenses or retirement.”
Born Into It?
Money Crashers goes on to say that college can be important but is not necessary. They also state that coming from a rich family can help but is not necessary. Some targets for developing products and services are suggested to be the categories of Tech, Finance, or Real Estate.
We believe that you also need to have a plan and be willing to use it, revising the “how” now and then if needed, but to keep moving forward at all cost. Marriage may not be your thing if you are a billionaire, at least it appears to be challenging for the partner who is not the actual individual pursuing the big dream.
Going back to an earlier topic, that of whether you must be born rich to achieve becoming a billionaire let us look at what The Motley Fool has to say about this area:
“If you are wondering how to become a billionaire, it can seem like you need to be born one, but that’s far from the case. According to the folks at the Wealth-X research firm, only 13% of the billionaires out there inherited their billions. About 27% did inherit a lot of money and then grew that sum to a billion or more, but about 60% of billionaires became billionaires on their own.”