The Billion Dollar Secret: 20 Principles of Billionaire Wealth and Success (Rafael Badziag, 2019)

-


What is a billionaire?
  • Petter Stordalen owns a chain of 200 hotels while an average millionaire only own 1.
  • Frank Stronach owns 400 factory while multimillionaire only own 1.
  • Jack Cowin own 3,000 restaurants while millionaire own a few.
  • Sergey Galitskiy owns 17,000 supermarkets and drugstores while millionaire own just a few.
The principles
  1. It's inside you
    • Common misconception
      • Billionaires are born in rich, developed countries.
      • Billionaires come from well-off, supportive families.
      • Billionaires studied at the best universities.
  2. If you want to fly, first leave the nest
    • If you want to create a $10 billion company, you have to solve a $100 billion problem.
    • Start your business as soon as possible.
    • Many billionaires founded their companies because they could not be employee anymore.
    • The differences
      • Drifters never leave the nest and never fly.
      • Millionaires leave the nest and try to fly.
      • Billionaires jump off the next and fly high.
  3. Hungry eagles soar highest
    • Don't limit your thinking and live a limited life.
    • You die even if you do or not (Ron Sim).
    • Billionaires never stop growing.
    • If you reach a dream, set another, bigger dreams.
  4. Build your own B.O.A.T.
    • Belief, Optimism, Assertiveness, Trust.
    • If you're trying to do something extraordinary, you will be ridiculed (Tim Draper).
    • Billionaire believe anything is possible and that they can achieve it.
  5. The gold digger's trap
    • Better to be motivated by things outside money and your goal will last.
    • Billionaires mindset
      1. Getting out of poverty.
      2. Freedom.
      3. Survival.
      4. Solving problems.
      5. Doing things well and improving.
      6. Doing something new.
      7. Playing the game of business.
      8. Competition and winning.
      9. Building and creating.
      10. Social impact.
  6. The 6 skills of business mastery
    1. Logical thinking
    2. Understanding people
      • You can't be successful in business unless you understand people (Rafael Badziag).
      • People can be obstacle or vehicle to success (Rafael Badziag).
      • Business is all about people (Lirio Parisotto)
    3. Relationships
      • Surround yourself with the right people.
      • Life is too short to fight people so build and nurture relationships that you have (Dilip Shanghvi)
    4. Communication
      • Storytelling!
    5. Selling
      • Billionaires are excellent salesperson.
    6. Leadership
      • Building and developing a winning team.
      • Business is a team effort (Jack Cowin).
      • As the business gets bigger, you become dependent on other people (Jack Cowin).
  7. The 6 habits of wealth
    1. Get up early
      • You have time for yourself.
      • You will feel the primal energy.
    2. Keep healthy
      • Exercise regularly.
      • Freshen up your head to think better.
    3. Read
      • The Economist, Financial Review, Fortune, The Times, Newsweek.
    4. Contemplate
      • Spend time to think.
    5. Routines and rituals
      • Compounding effect.
    6. Discipline
      • Do your routines even when you don't like it.
  8. Sharpen your vision
    • Set a vision and mission.
    • Vision gives direction.
    • Communicate your vision and mission effectively.
    • Attract people and embark with them on your mission, with them sticking to you (Rafael Badziag)
    • The ability to attract people (Jack Cowin)
  9. Don't be the flag, be the wind
    • Recognise and seize opportunities.
    • Have a good eyesight, not good foresight and not good hindsight (Naveen Jain).
    • Focus on what you have and make the most out of it (Petter Stordalen).
    • Billionaires are proactive, not reactive.
    • Don't wait for your ship to come in; row out to meet it. Don't wait until the dogs are barking at the door to do things (Jack Cowin).
  10. Be hold or be broke
    • If it doesn't require risk, it's not an opportunity (Jack Cowin).
    • Prepare to lose if you want to win (Ron Sim).
    • Rule #1 in business is not to go broke.
    • Take calculated risks with the best risk/reward ratio instead of "betting the shop".
    • Strategies to develop courage
      1. You need to accept you may fail.
      2. Realise that you are a tiny, unimportant speck of dust and your life is very limited. So why worry.
      3. Realise that risk in business comes from your ignorance.
      4. The more risk you take, the better you can handle it.
      5. See life as an adventure and a challenge.
      6. Have some sort of safety net.
  11. Stumble forward
    • Obstacles are often an opportunity in disguise.
    • You can find good surprises in bad situations (Mohed Altrad).
    • When you solve a problem, it became an opportunity (Dilip Shanghvi).
    • Accept and embrace change.
    • Every day, you've got to change. If you don't change, you die (Frank Hasenfratz).
  12. Keep fighting to win
    • Put yourself in a situation where you are challenged to succeed (Rafael Badziag).
    • Persevere with grit and resilience, get serious and commit to success.
    • Life is a marathon, not a 100-meter dash. You can fall and still win the race (Hüsnü Özyeğin)
    • Billionaires are extremely tenacious and know when to hold or fold.
  13. Do not conform
    • Have a rebellious spirit and break social norms.
    • Go where no one has gone before.
    • Think differently and create tread.
    • Billionaires look for a hole in the system and exploit it to their advantage.
  14. Outwork them all with passion
    • ABW = Always Be Working.
    • You still have to work hard enough to achieve what you want even if you are talented (Mohed Altrad, Jack Cowin).
    • Go full speed, give 101%.
    • If you give a lot of energy, you get a lot of energy (Petter Stordalen).
  15. Are you F.A.S.T.?
    • Flawless execution, Absolute focus, Speed, Time management.
    • Efficiency is doing things right; effectiveness is doing the right things (Peter Drucker).
    • Time is key, speed is critical.
    • Billionaire efficiency strategies
      1. Set goals.
      2. Plan regularly.
      3. Prioritise.
      4. Focus.
      5. Leverage your time and energy.
      6. Measure everything you do.
    • Working smart
      • Get on top of the emails.
      • Replicate what works.
      • Keep it simple.
      • Use the force of the current.
      • Apply the maximum velocity principle.
  16. Be smart with money
    • Income before spending (Petter Stordalen).
    • You should enjoy making money more than spending it.
  17. Never stop improving
    • School knowledge is not the decisive factor. More important factors are the desire and capability in absorbing new knowledge (Cai Dongqing).
    • Everybody is a teacher. Every moment is a learning opportunity (Tony Tan Caktiong).
    • Learn how the world works.
    • One job that start at the top and you're successful is when you are digging a hole (Frank Hasenfratz).
    • How to do business
      1. Prepare.
      2. Learn from other people.
      3. Learn business by practising it.
    • Keep focused on your strong sides and perfect it (Ron Sim).
    • We're on this planet to learn and to grow and to evolve (Manny Stul).
  18. Live with integrity
    • If people catch you lying once, you can forget about it (Manny Stul).
    • Strong values
      • Be humble.
      • Be good rather than rich.
      • Wisely choose your environment.
      • Stay grounded.
      • Do good.
      • Be fair.
      • Don't wrong other people.
      • Respect people.
      • Trust people.
      • Be loyal.
      • Don't lose your integrity.
      • Be respected.
  19. Gracefully give back
    • Be grateful.
    • Do good for society.
    • Billionaires have the mindset of abundance.
  20. Pay the price
    • The price of success is much lower than the price of failure (Thomas Watson).
    • If you want success, you'll pay a price. You can't be half-pregnant with it (Manny Stul).
    • It is 30 years' work and maybe 14-15 hours a day. This is the price to pay (Mohed Altrad).
    • Are you prepared to pay the price?

Comments

Post a Comment

Popular posts from this blog

Kokology Questions & Answers

-
[These are extracts only, to see the full details kindly purchase the original book] Kokology is the study of kokoro (Japanese: 心) which in the aforementioned language means "mind" or "spirit". ... The books were published in 1998 in Japan and became a Japanese bestselling phenomenon. The books were translated and became available in the United States in 2000. Below are some questions and answers for sharing: A Desert Journey Boring class settings, you drifted away and enter the eternal desert... 1. You are riding a camel and you are near exhaustion, what will you say to the camel? 2. Before you die of thirst, a traveler point to you a oasis, who is this person you know? 3. You finally come to your destination which is a town, what is your feeling? 4. After you dismount, another person took over, who is this guy? - 1. What happened when love is lost? 2. Who always help or comforted you? 3. What is your feeling after getting past lost love?...
Read more

Neuro-Linguistic Programming Models Summary (02 of 14)

-
GeneraliSation The The Meta Model generaliSations make explicit the way we summarise and categorise our experiences. Generalisations are basically the rules we use to manage life. There are usually exceptions or counter examples to rules. These rules and categories create self-imposed or company wide limitations. Examining these limitations is a powerful problem solving strategy. By generalising one or a few experiences, we can figure out what to do in a different experience. We learn to drive a particular car, and then use that experience to drive a new one. If we weren’t able to generalise, we would have to learn how to drive all over again. Problem Solving Examining categories and generalisations is an excellent creative problem solving strategy. What are the experiences that come to mind when you think of money for instance? We typically use an emotionally charged experience to stand in for all our experiences in a category. We generalise and categorise all kinds ...
Read more

Neuro-Linguistic Programming Models Summary (11 of 14)

-
The Inner Hero Pattern Beat the drum and let the poets speak. This is the day of purification for those who Are already mature and initiated into what love is. No need to wait until we die! There’s more to want here than money And being famous and bites of roasted meat. --Rumi Life can be lived in many ways. You can make it about making money or winning at all costs, or pleasing other people, or perhaps never standing out. Or you can live your life as a great journey of consciousness, one filled with many challenges and surprises, one that makes a positive contribution to the world. I want to talk here a bit about these different paths, emphasising that the Self-Relations approaches of Generative Self and Generative Trance are especially tools for supporting the latter path. Life as a journey has been described by many people, most notably the mythologist Joseph Campbell.  Campbell (1949; Gilligan and Dilts, 2009) studied the stories of many different cultur...
Read more