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How Do I Become a Billionaire Asks a 15 year old?

A 15 year old asks on several Answer sites, "How Do I become a billionaire"?



Asked March 13, 2017
Posted Under: education
2 Answers

My answer is simple:

Just don't ask anyone who is broke. That will eliminate 90,999 of the 91000 people who will not become one. That leaves you to figure it out.
Think big, create a product or service for the masses that they want or need, give better customer service, team up with other billionaires, and stay focused, obsessively. That means no TV, weekend parties, vacations, family gatherings, etc. If you have a significant other, they need to be on board or break up relationship.
Take it form someone who is almost there, is working 100 hours per week, focused on the sharing economy platform, hiring offshore labor to enter service providers, buying small niche competitors who failed, and spend more time doing than analyzing. Find the idea, research everything about it in the beginning, then put a detailed plan to get there. The plan will change constantly, but at least you have a plan to work from. Gradually, you will be on autopilot and each task will come to you. At some point, sooner than later, you have to generate revenues and profits. Focus on minimum viable product/service, refine it, until most customers embrace it.
That's it, Go for it!


Answered March 13, 2017

Warren Buffet says, "Say No 90% of the time".
His experience, along with other billionaires, is to focus on the main goal at hand. This means eliminating distractions.
Your daughter calls to babysit the kids. Next, your sister calls about her kid's birthday party. A friend calls you to join her at a party.
Your brother needs help with his taxes. Your wife wants to go for a ride today, since the weather is nice.
The list never ends.
If you set out a 12 week plan to work 60 hours per week, then you need to say NO to ALL distractions. No babysitting, rides, parties, birthdays, etc, etc.
If you put in the time, you increase your chance of success 100 fold.
Now, you have a 1 in 910 chance of becoming a billionaire, instead of 1 in 91,000.
Much better odds, would you agree? Why would you not strive for that? Assuming you develop a minimum viable product or service that the masses crave for, plus you put in the time to market it correctly, and
you get great feedback, with people willing to pay for it and tell others, you made it.
Now focus on sales, customer service, hiring talent to help run the show, partner with other billionaires to joint venture and you have the willing formula.
If you allow the distractions metioned above, you fall back to 1 in 91,000 and someone lese will eat your lunch, breakfast, and dinner.


Answered March 13, 2017
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