Forbes’ top ten billionaires recommend taking risks, thinking outside the box, and chasing your dreams rather than money.
1. Avoid the “just right” trap
Bezos planned to sell almost all the books on the Internet through Amazon. But none of the experts he consulted thought that this idea could be implemented. Most of them advised focusing on popular genres and publications.
Every reasonable person we asked told us not to do it. We got good advice, we ignored it, and it was a mistake. But that mistake turned out to be one of the best things that happened to the company.
Jeff Bezos
It was precisely because of the diversity of positions that the Amazon website became popular with users at the start, and information about it began to spread through word of mouth. Probably, if the team had launched a more traditional project, it would not have received such fame.
Once you become an expert, you risk being trapped in information dogmas. You start to know exactly “how it should be done,” and lose the ability to figure out “how it could have been done.”
Jeff Bezos
2. Surround yourself with people who lift you up.
In 2017, the businessman gave some advice to school graduates and pointed out the importance of the environment.
It is human nature to move in the same direction as the people close to you. If your friends are used to being content with little, it is not surprising that your ardor has faded over time. Conversely, successful people around you make you believe that you can do more.
Surround yourself with people who challenge you, teach you, and motivate you to be your best.
Bill Gates
The billionaire considers his wife to be such a person. Melinda Gates is an entrepreneur and philanthropist. She has been married to the founder of Microsoft since 1994.
3. Invest in yourself
The businessman suggests considering a career as a business, and yourself as the main product. It is pointless to produce a product that the consumer does not like. You will not “sell” yourself and get your dream job if you do not invest in your own growth.
The best investment you can make is in your abilities. Anything you do to develop your skills or business is likely to be effective.
Warren Buffett
4. Remember that money is not a goal, but a consequence of success
In finance, long-term planning is important. You can chase easy profits, get them, and then the business will fall apart. Arno suggests thinking bigger and imagining what will happen to the brand in five or ten years, instead of estimating the revenue of the next six months.
In his opinion, the key to success is to create something timeless and constantly add something trendy to it.
Money is just a consequence. I always tell my team: don’t worry about profitability. If you do your job well, the profit will come.
Bernard Arnault
5. Don’t be afraid to take risks
In one of the interviews, the founder of the popular social network said that doubts prevent him from moving towards success. Facebook*’s path to popularity took longer due to concerns that Google would make a similar product and the project might not take place.
The biggest risk is not taking risks. In a world that is changing very quickly, the only strategy that is guaranteed to fail is not taking risks.
Mark Zuckerberg
6. Don’t believe in unconditional success
Ortega’s story is a vivid illustration of how to escape poverty and become one of the richest people in the world. At the age of 13, he dropped out of school because he didn’t have enough money and had to go to work. Starting as a messenger in a shirt shop, Ortega managed to create the Inditex empire, which specializes in “fast fashion.”
The brand’s headquarters are in the small city of La Coruña in Spain. At 82 years old, Ortega goes to the office almost every day, talks to employees and listens to their ideas. And the business is completely focused on the wishes of the customers.
The worst thing you can do is become complacent. Success is never guaranteed. I never allow myself to be complacent about what I have done, and I have always tried to instill this in everyone around me.
Amancio Ortega
7. Don’t be afraid of competition, study your competitors
The businessman made his first million at the age of 17. This became possible because he started investing at the age of 10 – not without the help of his father. Carlos Slim Helu still follows his father’s advice, which he himself has admitted more than once.
In his opinion, “competition always makes you better, even if the competitor wins.” He advises competing at the highest level to see how good you can be.
Think about an athlete. He may be very good at home, but not as good as his neighbors. To understand this, you have to go outside the house.
Carlos Slim Helu
8. Appreciate mistakes
According to Charles Koch, most innovations come from trial and error. And there is value in the latter, even if it is harmful to the cause. You simply will not try anything new if you avoid failure.
If you think you’re experimenting and you never fail, you’re not really experimenting.
Charles Koch
9. Remember that you can’t control everything.
In 1992, David Koch was diagnosed with cancer . Despite treatment, the disease returned time after time. For many years, the entrepreneur sponsored research dedicated to the fight against cancer.
You know, when you’re fighting cancer, everything else seems like a pretty easy battle.
David Koch
10. Don’t confuse other people’s expectations with your own
The future billionaire intended to become a doctor. His family, teachers, girlfriend wanted Larry Ellison to get this profession, but he dropped out of pre-medical school. Later, when the man began programming, his wife left him, citing the fact that he had no ambitions. And the divorce became a turning point.
Once again, I failed to live up to the expectations of others. But this time, I wasn’t disappointed in myself for not being able to become who they thought I was. Their dreams and my dreams were different. I will never confuse them again.
Larry Ellison