- According to Forbes
there are 2,153
billionaires in the world
out of the 7.8 billion people on this planet earth.
It is a tiny
tiny
percentage of the population.
There are a lot of people,
they have a lot of jealousy
and resentment towards billionaires.
Some have admiration's towards billionaires.
When I hear people they say "I want to be a billionaire"
or I see it on social media
"Oh I'm going to be a billionaire."
I don't think most people have the slightest clue
of what it takes
to be
a billionaire.
You got to understand we are not talking about
being the one out of one hundred or one in one thousand
not even one in ten thousand,
not even one in one hundred thousand.
You've heard of the saying one in a million.
Well being a billionaire is not even one in a million.
It's one in a few million.
You have to be that good and that exceptional.
Now here's a visual representation.
Here's what $ 10,000
looks like.
A small in a pile,
and here's what $100,000
looks like.
Not even that big of a pile.
Here's what $1000,000
in cash looks like.
Now you might think $1000,000 such a big number
that it will fill this entire room with cash.
That's not true actually $1000,000 you could fit
in a large bag pack.
And here's $100,000,000
what it looks like.
And here is what $1000,000,000
looks like.
Now as you can see it is a huge amount of money.
More money than most people could imagine.
Disclaimer I'm not a billionaire but I've had
the privilege of interviewing quite a few billionaires
on my podcast the Dan Lok show
and I've had the fortune of being mentored by some of them
and what I'm about to share with you today.
These are simply my observations.
Notes that I have jot down in my little notebook.
I've got a whole notebook of them especially the way
that they think and their billionaire mindset
and today I'm going to share three findings with you
from my little notebook.
And you don't have to buy any of these ideas.
It's okay to disagree I'm simply sharing with you
what has worked for me
and in my own business
and in my own career.
Everyone has an opinion of billionaires
but most of those people have never made
more than 40k a year in their life
and chances are they will never even talk to a billionaire.
Billionaire mindset number one.
Money is not their biggest motivator.
They don't do it for the money,
maybe in the beginning they did
but later on think about it if your goal
simply is to live a comfortable life, a luxurious life.
After a while its very easy to lose motivation.
They don't do it for the money after a while they do
it for something else.
They do it to win.
They do it to make a difference
or they do it to disrupt an industry
or they do it simply because they could.
In fact I would say that is the key difference
between a millionaire versus a billionaire.
A millionaire once you reach a certain stage of success
once you are comfortable it's easy to get complacent,
right?
Just like my mentor says default is a bitch.
When you are more successful than the people around you
like you know what I don't want to work so hard anymore,
right?
Think about it if you are already living in a house
that you want,
you are already driving the car that you want,
you are already taking a vacation that you want,
you are staying in the best hotels,
you've got a comfortable life.
If all your motivation is based on just things,
well you'll lose motivation real quick.
From my observation to billionaires,
money is simply a way for them to keep score.
Not because they are greedy because they enjoy
what they are doing
and they are good at it
and that's why they get paid
a lot of money doing what they do.
You see poor people say,
well you know what if I have that kind of money
I would never work another day in my life.
Well with that kind of mentality
chances are that's why you will never have
that kind of money.
Because you are motivated just by money itself.
Steve Jobs said it best I was worth $1000,000
when I was 23.
I was worth $10,000,000 whem I was 24
and I was worth $100,000,000 when I was 25
but they are not that important anyway
I never did it for the money.
Billionaire mindset number two.
Billionaires understand people.
From my observation
billionaires they have exceptional people skills.
Now some of them are great communicators.
They are great public speakers.
Some of them are world class negotiators or closers.
They could get deal done.
They could close deals.
They know how to negotiate with the banks.
Now having good people skills doesn't mean
that they won't be liked all the time.
In fact most of them they are not that nice.
They are tough.
They are tough because they have been screwed over.
They have been taken advantage of.
They have been sued, right?
They have been back stabbed.
They have a lot of scarred tissues, right.
They have a lot of heat, right.
There a lot of people wanting something from them.
So they have thick skin
and almost without exception
they all have world class leadership skills.
They know how to lead people.
They understand people.
They know how to motivate people.
They know how to put a team together.
They understand that it takes people to get stuff done.
You need to know how to get people together.
Work together as a team
and not working against each other
and that is tough.
I also noticed they are willing to invest time
in developing key relationships.
And most of them are very generous
and they are willing to help people.
As long as you are sincere,
that you don't have a victim, loser entitlement mentality
that you are like a blood sucking leech
that you want something from them.
As long as you are sincere, they are willing to help.
I'll tell you a quick story
through a mutual friend in introduction.
He introduced me to one of their most successful,
one of the wealthiest men in my city in Vancouver
and I got his phone number.
I call him up and I say I was introduced by a friend
and I just want to seek his advice
and I wonder if I can buy him lunch.
And immediately I call him in the morning he said
"Sure lets do lunch cause I got some time.
Why don't you come to my hotel"
Cause he owns one of those hotels in Vancouver.
He said come to my hotel
and I will see you in my lobby just at lunch time.
I said great.
So I dressed up, I drove there
and I saw him in the lobby.
And he greeted me and he was very very nice
and then he said why don't we just eat at my restaurant
and cause he owns that restaurant as well at
the bottom floor of the hotel.
So we went in and he was greeted by everyone.
You could see the people, the guests
a lot of people know him.
They are saying "Hi, how is it going?"
He's shaking hands with everybody, right.
Very welcoming and we sat down and we had lunch
and I was asking him, I was taking notes
of what advice he would give me
and by the end of the lunch I said okay great.
I pulled out my credit card cause I wanted to treat him.
He said
"No don't worry about it, you are eating in my restaurant.
I'm not going to let you pay in my restaurant."
"Maybe next time."
As a young guy I got nothing to offer to him.
There's nothing that he needs or wants from me.
Not only he gives me his precious time giving me advice
but also bought me lunch.
It's incredible.
Billionaire mindset number three.
Billionaire they see things that other people don't.
Here's a piece of land.
Poor people they will see just a pile of dirt, right?
Some might see a garden.
Middle class would see a house that they could live in.
A millionaire might see a fourplex that they could build,
but a billionaire could see a skyscraper
maybe with commercial real estate at the bottom part
and then condos at the top.
They would see they could build a train station here
maybe they could also acquire that property next door.
They see things completely different.
They have a mindset what I call
resourceful without resources.
They are very very creative
when they cannot do something or someone tells
that they cannot accomplish that,
they will always find a way.
They have a very compelling vision,
have a lot of clarity of what they want to accomplish
and because they have that compelling vision
its very easy for them to attract the right people
and say hey I want to help you to accomplish that vision
because billionaires they know how to paint that picture
and they know how to craft that vivid vision
that if you could help him to get what he wants
then you will get what you want as well.
So it is a win-win.
They know how to mobilize a team.
They know how to motivate people.
They know how to solve problems.
They know how to make connections.
So they have some exceptional skills
and they think long term.
They think very very strategically.
That's one of the things I have learnt.
Ali Baba has a business plan for a hundred and two years.
They are planning to be around for a hundred and two years.
And I know that's when I listen to my billionaire mentors.
They are talking about a five year plan,
a ten year plan,
a fifteen year plan,
a twenty year plan.
They have this long term vision
and they are willing to wait.
They are patient and because they think long term
they could put themselves in positions
to capitalize on certain opportunities
versus other people with shiny object syndrome
or short sighted.
And one more thing that I notice maybe
is a bonus mindset tip
and that is they don't think about niches.
They don't think about a small market chances are
almost of them they either think nationally
how to dominate an industry in the whole country,
or they think globally,
how they dominate an industry globally not just locally.
They don't believe in small niches.
They don't believe in small categories.
They want to be the leader in a global industry.
They think big.
That's why they are very very competitive, right.
They want to win, they want to win big
and that's why in order to win big
they need that ten twenty thirty year plan
and they are willing to pay the price
and work towards that.
And those are some of my observations
of the mindset of a billionaire.
If you want me to share more
of those observations with you
from my little notebook,
call me below and let me know.
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