Act now, for long term goals
- Jeff bezos, founder and CEO of Amazon, nailed through decision making in the short term for incredible success.
- Take a look at e-books, for example : While everyone else was selling e-books for the same price as print editions, Jeff bezos saw an opportunity and grabbed it with the both hands.
- He fore-saw e-books having a low price long term, so he made the move to decop Amazon e-book price prices early on.
- He lost money, and it was an unpopular decision, until it wasn’t and he was proven right.
- After all, Amazon is the top choice for e-books these days.
- To implement in your own life, make sure you have at-least one defined long-term goal.
- Think about the smaller decisions that could affect that goal right now.
- May be there was a course you want to study. Instead of spending your last $5 for the week on a coffee, save it towards your course.
Pay attention to Relationships
- It is important to give time and energy to the people close to you.
- Fostering good relationships is not only great for business is a direct sense, but great for mental well-being, which engenders success.
- Billionaires like Bill Gates believe in giving back through relationships.
- Although he had a fierce reputation in his early career, Gates became a valued mentor to some of Microsoft’s top leaders.
- Mark Cuban knows the importance of the every single person who featured in a successful ride to the top.
- He realized he never would have achieved it without help, so he was and still is charming to everyone.
- You may be under the impression that billionaires would be inclined to live large, but that isn’t always the case.
- Some billionaires continues to live by the habits that helped them achieve their success.
- No Matter your income, it’s important to live before you means.
- Like Mark Zuckerberg, Who continues to drive an entry-level sedan, or Warren Buffet, who prefers to use a flip phone, despite technological advances, and the fact that a top of the range smart phone costs about the same amount of money he makes in a second. Yes, that’s right only a single second.
- Also, Buy cheap clothes like early Google investor. David Cheriton, who sticks to jeans and t-shirts rather than designer labels.
- Carlos slim, one of the richest men in the world, believes in being mindful of how you spend any of your extra money.
- If you find yourself in possession of windfall, think like slim how can I invest this for bigger return, rather than spend it immediately?
- Slim is known for his frugality, resisting any urge to purchase luxury items like a yacht or a plane.
Be Self Sufficient
Wouldn’t it be nice to afford a restaurant quality lunch every day?
Well, Yes, It would.
- But it’s nicer to have complete independence and be self-sufficient.
- According to self–made billionaire Charlie Ergen, The chairman of the Dish Network makes his own lunch every day.
- It is usually a Sandwich and Gatorade.
- It’s guest to have support, but billionaires usually get to where they are by holding themselves accountable in every aspect of their lives.
Wear the same clothes every day
- Most people seem to dislike uniforms, but billionaires can see the beauty in not having to waste time choosing what to wear every morning.
- Rather than organizing over coordinating pants and shirt or selecting suitably-appropriate attire every day.
- Mark Zuckerberg simply selects one of his gray t-shirts.
- This helps keep his focus on what he does best, serving the Facebook community.
- After all, he already makes so many decisions that making any more could cause fatigue.
- Mark Zuckerberg isn’t the only billionaire who does this though.
- When Steve jobs tried to implement an Apple vest, modeled on Sony’s idea of bonding employee’s to the company.
- Apple employees resisted jobs then took to wearing his own uniform of sorts, the now famous black turtleneck and jeans combo.
Follow Your Passion Obsessively
- When you think about obsessively passionate billionaires, Steve jobs would be at the top of many people’s list.
- Jobs believed that you need to find what you low in order to generate enough passion to lead you to success.
- Success take a great deal of perseverance, but it is difficult to perserve if you don’t love what you do.
- Another billionaire who believes in doing what you love is Hewlett Packard’s CEO Meg Whitman.
- Whitman doesn’t think you can be happily successful if you are forcing yourself to pursue something you don’t naturally enjoy.
Read Widely, every day
- Billionaire investors and business partners Warren Buffet and Charlie Munger are the best examples of how reading leads to success.
- They are continues learners, which means they have developed as independent thinkers who can solve problems in different ways to most people
- Buffet has also developed an incredible rationality, which allows him to make decisions which appear risky buy result in incredible success.
- He estimates that he spends 80% of his work day reading and thinking.
- Now, while that may not be practical for the average person, you certainly can read something everyday and continue to get smarter.
- Alternatively, you can follow Munger’s path to becoming an expert generalist.
THERE IS NO SUBSTITUTE FOR LEARNING.
THOSE WHO KEEP LEARNING WILL KEEP RISING N LIFE.
- Instead of focusing on one field and studying that intensely, Murger has studied a larger variety of field in depth, from psychology to micro economics to biology.
- Murger combines knowledge from everything he reads to make better investment decisions.
- You too can see the world more accurately and have more break through ideas by reading every day widely.
- Start by reading something you wouldn’t normally read.
- Or even better, just watch all our videos.
Find a Mentor
- Successful people choose to surround themselves with positive, smart people.
- One person who can prove indispensable in the road to success is a mentor.
- Infact, you will often find that billionaires becomes mentors to future billionaires or other successful people, like Steve jobs, who mentored Napster founder sean parker and Mark Zuckerberg.
- Smart people know they don’t have all the answers, so embrace support and advice from others.
- You don’t need a fabulously famous mentor, though, to receive the benefits.
- Mentors come in all forms and from all walks of life.
- For a student, a member of the faculty could prove to have mentor qualities.
- At work, try seeking out someone who you respect and is a couple of levels above you.
- You don’t even have to find another person to be your mentor.
- Books can provide wonderful mentoring.
- Try reading a book about a successful person you admire instead.
Develop multiple streams of income
- Most people have one job.
- There is absolutely nothing wrong with that but looking at the most successful people in the world, you realize they usually have multiple streams of income.
- This is useful because additional source of income give you security if something happens to your main job, as well as boosting your financial situation overall.
- Richard Branson is the ultimate developer of multiple streams of income, as founder of Virgin airships, virgin mobile, and virgin Australia.
- Try putting your eggs in multiple baskets.
- Save at-least 10% of your net income to invest in options for passive income, such as rental property, stocks and bonds.
- Also, try to develop a side business in addition to your main job.
Get up Early
- Well, it might seem obvious, but this habit is the easiest one to implement, and can have impressive results.
- Unless you are an adanant night owl, mornings are generally the most productive time of the day.
- An overwhelming number of billionaires know this is to be true.
- Jack Dorsey wakes at 5.00 AM to ensure he has time to meditate and exercise before his work day.
- Likewise, Richard Branson wakes at 5:45 AM to exercise and spend time with his family.
- Other billionaires early risers include jack Ma, chairman of Alibaba Group, and Mark Zuckerberg.
- If you are the type of person who leaves things to the end of the day only to find you have run out of time, try getting up early and turning your day on its head.
- Your productivity will skyrocket, and you will feel great.
- Now that we have inspired you with the life hacks of billionaires and some easy ways to incorporate them into daily life, it’s time to begin.
WHICH LIFE HACK COULD YOU USE IN YOUR LIFE?