According to Forbes, there are about 724 billionaires in the US and more than 2,700 globally. Everyone has their own unique circumstances and builds their fortunes in different ways. But when looking at their attitudes and behaviors as a whole, billionaires have a few things in common.
These common traits can be a stepping stone for those who are reaching for success and financial independence.
3 differences between billionaires and ordinary people
1. They save
“Don’t save what’s left after you spend it. Spend what’s left after you save,” Berkshire Hathaway Chairman and CEO Warren Buffett once said.
The sentence summed up the thought that helped the “stock god” become one of the richest men in the world. The stories of Warren Buffett eating at McDonald’s, living in the house he bought in Omaha (Nebraska, USA) in 1958 for more than 720 million VND, buying used cars and using cheap flip phones are not new.
At the annual shareholder meeting in 2014, Warren Buffett explained that his quality of life is not affected by the amount of money he has. “My life couldn’t be happier. In fact, it would be worse if I had six or eight houses. So I have everything I need. I don’t need any more because it doesn’t create anything. make a difference”.
But it’s a habit that allows billionaire Warren Buffet to save and invest more. This boosted his wealth. The 92-year-old “stock god” is not the only one with this habit.
“Security god” Warren Buffett does not waste on luxury goods. Photo: CNBC.
Microsoft co-founder – billionaire Bill Gates – admitted a few years ago that he wore a watch costing more than 220,000 VND. The habit of saving was ingrained in him from a young age.
He confided: “When I was 20 years old, I was disgusted with who I was then. You know, I’m sure I would never change anything but the coach. But now I have a computer. fly”. The thrift has made the 4th richest man in the world today.
Another example of this habit is billionaire Jeff Bezos, founder, former CEO and executive chairman at Amazon. He believes that the habit of saving is the “mother” of innovation.
“I think frugality promotes innovation. One of the only ways to get out of a tight box is to make your own way,” said billionaire Jeff Bezos.
2. They think big
“Life can be so much bigger, once you discover the simple truth. That everything around is made up of people smarter than you. You can change it, influence it, build your own things that others can use. Once you understand that, you will never be the same again,” said Steve Jobs, the late Apple founder.
Steve Jobs lived like that. He changed the world with his innovations at Apple. His words don’t mean you have to invent world-changing technology.
But experts say most billionaires think big. Obviously, hard work and strategic thinking will set you up for success in any venture. They start with having a positive mindset and thinking big.
Ann Hiatt used to work as an assistant to billionaire Jeff Bezos. After working with billionaire CEOs, she found that what they all have in common is curiosity. They crave to learn and discover everything. Successful CEOs try to approach different situations in creative ways and offer a unique perspective on the task at hand.
The difference between billionaires and ordinary people is that they have bold thoughts. Photo: Inc. Magazine.
3. They are not afraid of failure
One of the oldest and most important things in the startup world is not to be afraid of failure. “If things don’t fail, you haven’t innovated enough,” the world’s richest man, Elon Musk, told SpaceX employees in the company’s early days.
Sara Blakely, founder of womenswear and knitwear brand Spanx, says her father always encouraged failure. “He would ask us what we failed in the week. If we said no, he would be disappointed. It changed my mind at a young age that failure is not the outcome,” she said.
In 2012, Sara Blakely was on the cover of Forbes magazine as the youngest self-made female billionaire in the world. This philosophy was ingrained in her from a young age, constantly pushing her out of her comfort zone to take on new challenges and risks.
Many people avoid actions or activities for fear of failure. But Sara Blakely says not being afraid of failure has allowed her to constantly try new things.
Or the classic story of genius Thomas Edison: “I don’t fail. I just found 10,000 ways that don’t work” is another example of not being afraid of failure.
Not all billionaires have instant success in starting a business. It was the failure that taught them valuable lessons and brought them to the top of glory.
Sare Blakely’s lack of fear of failure has been ingrained in her since she was young. Photo: Master Class.
One thing in common between ordinary people and billionaires
Many billionaires say they are not motivated by money. It was an outgrowth of their passion and purpose.
Regarding the one thing they all have in common, Richard Branson, founder of Virgin Galactic, said: “One thing’s for sure in business, you and everyone around you will make mistakes.”
But it is from those mistakes, whether in business or in investment, that you can learn, adapt and create new opportunities for success.
According to The Buffalo News
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