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10 Self-Made Billionaires In The World That You Should Learn From

10 Self-Made Billionaires In The World That You Should Learn From

In Bloomberg’s top 200 billionaires, over half are self made; 137 to be exact. Together, those 137 are worth about $2 trillion. And the percentage of self-made billionaires is growing from year to year at an amazing rate – proof that it is possible to achieve this dream.  In the last 19 years, billionaire wealth growth was strongly driven by entrepreneurial wealth creation, according to a 2015 study by PWC.

Going down the billionaire path requires a great deal of perseverance, ambition, business focus, and work ethic. Match that with an appetite of clever risk taking, influencing others to believe in your dream, and massively helping others along the way and you’ll have several of the key traits of self made billionaires. Although they are fearless visionaries, many of them also started out in the world just like you.

Here are 10 extremely valuable and insightful things you can learn from these self-made billionaires to inspire you and launch your entrepreneur journey:

1. Learn to hustle early in life: Elon Musk (Founder of SpaceX, Tesla Motors and Contributor to Paypal)

Networth 13 Billion USD (Forbes)

“The first step is to establish that something is possible; then probability will occur.”

self made billionaire elon musk

    Elon Musk is a South African born Canadian – American billionaire technology mogul who started hustling at 12 years old. He started his entrepreneurial journey teaching himself to code and selling a video game he made for $500. When he first arrived in Canada, he held a series of odd jobs including tending vegetables, shoveling out grain bins, and cleaning out gunk from a boiler room in a lumber mill.

    When he was in university, Elon sold computer parts and computers to make extra cash. And to help pay rent, he and his friend turned their 10 bedroom fraternity home into a nightclub on the weekends and charged cover. Since then, he’s built several companies, including SpaceX, Tesla Motors, PayPal, and zip2.

    His philosophy: “If something is important enough, even if the odds are stacked against you, you should still do it.” – Elon Musk.

    2. Learn to give to those who truly need it: Sara Blakely (Founder of Spanx)

    Networth $1.03 Billion (Forbes)

    “It’s important to be willing to make mistakes. The worst thing that can happen is you become more memorable.” – Sara Blakeley

    self-made billionaire sara blakely

      Sara Blakely is an American intimate apparel billionaire and a philanthropist who has committed to donating most of her wealth away. She started her billionaire journey when she was 27 years old, out of her Atlanta apartment and revolutionized the way women look in their clothes. In 2006, she started the Sara Blakely foundation dedicated to helping women through education and entrepreneurship. In 2013, she became the first female billionaire to join the ‘Giving Pledge’, a commitment to donate the majority of her wealth to help others who truly need it. To date, there has been more than 100 billionaires that have made this pledge.

      3. Learn to grow your investments: Warren Buffett (CEO of Berkeshire Hathaway)

      Networth $60.8 Billion (Forbes)

      “Price is what you pay. Value is what you get.” – Warren Buffet

      Self-made billionaire warren buffet

        Warren Buffett is an American investment wizard and businessman. He started investing in stocks at 11 years old and real estate investing at 14 years old. Before he graduated from high school, he had a few businesses under his built, including a pin ball machine business that he later sold for a handsome profit. He made his first million at the age of 30 and already had about 20 years of business experience under his belt. He grew Berkeshire Hathaway into one of the most valuable companies in the world based on his ‘invest what you know’ mentality and strategically investing in undervalued businesses for the long term in many industries.

        His philosophy is: “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” – Warren Buffet

        4. Learn to be comfortable with the uncomfortable: Guy Laliberté (Co-founder and Former CEO of Cirque du Soleil)

        Networth: $2.1 Billion (Forbes)

        “I don’t believe in pitfalls. I believe in taking risks and not doing the same thing twice.” – Guy Laliberté

        Self-made billionaire Guy LaliberteÌ

          Guy Laliberté is a Canadian entrepreneur, co-founder of Cirque du Soleil and a professional poker player. He is used to being uncomfortable – he started his billionaire dollar journey as a street performer playing the accordion, walking on stilts and eating fire. In 1987, he co-founded a circus troupe in Montreal and took a big risk moving it to Los Angeles to make it big. The move paid off and his troupe became the famous Cirque du Soleil. In 2009, he became the first Canadian space tourist and his spaceflight was dedicated to raising awareness on water issues making it the first, in his words, ‘poetic social mission’ in space.

          5. Learn that circumstances don’t matter: Oprah Winfrey (CEO of Oprah Winfrey Network)

          Networth: 3 Billion (Forbes)

          “You become what you believe. You are where you are today in your life based on everything you have believed.” – Oprah Winfrey

          Self-made billionaire Oprah Winfrey

            Oprah Winfrey rose from a life of poverty and hardship into one of the most influential and powerful women in the world. She is an American media mogul, producer, talk show host, author and philanthropist. She grew up wearing potato sack dresses when she was living with her grandmother. By the time she was fourteen, she suffered physical abuse, molestation, and the death of her first new born. A few years later, she won a beauty pageant, got her degree in speech and performing arts, became an ABC news anchor – and the rest is history. Her cable network, the Oprah Winfrey Network, is worth billions of dollars.

            6. Learn the real value of money: Mark Cuban (Owner of the Dallas Mavericks, Landmark Theatres, Magnolia Pictures and Chairman of AXS TV)

            Networth: 3 Billion (Forbes)

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            “Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.” – Mark Cuban

            Self-made billionaire Mark Cuban

              Mark Cuban is an American business guru and investor who understood the true power of money at an early age. Before his billionaire days, he learned to stretch his dollar by living of ketchup and mustard sandwiches, couch surfing, and living on the cheap. In university, he made extra cash teaching dance lessons and hosting disco parties. He lived well below his means so that he could deploy his money on business opportunities. He lived on the cheap for a long time in order to build and grow his businesses and investments into a multi-billion-dollar empire.

              In his book, How to Win at the Sport of Business, Cuban wrote:

              “It doesn’t matter how you live. It doesn’t matter what car you drive. It doesn’t matter what kind of clothes you wear. The more you stress over bills, the more difficult it is to focus on your goals. The cheaper you can live, the greater your options.”  – Mark Cuban

              7. Learn to be mentally tough: Jack Ma (Founder of China YellowPages and Alibaba)

              Networth: 22.2 Billion (Forbes)

              “Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.” – Jack Ma

              Self-made billionaire Jack Ma

                Jack Ma is a Chinese internet entrepreneur and billionaire. His amazing mental toughness and resilience got him through many failed school exams including university entrance exams, twice. After graduating, he went on to dozens of rejections from jobs including a managerial position at KFC. Before he became rich and famous, he was kidnapped on a business trip to Los Angeles, threatened with a gun, and held captive in Las Vegas with no money before managing to escape. His mental toughness, resilience, extreme determination and passion to achieve his goals eventually paid off and he went on building a mega billion dollar internet empire.

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                His philosophy: “If you never tried, how do you know there’s no chance?” – Jack Ma

                8. Learn to solve complex problems by turning them into something simple and beautiful: Elizabeth Holmes (Founder-CEO, Theranos)

                Networth 3.6 Billion (Forbes)

                “What I really want out of life is to discover something new, something that mankind didn’t know was possible to do.” – Elizabeth Holmes (at nine years old)

                Self-made billionaire Elizabeth Holmes

                  Elizabeth Holmes is an American entrepreneur who has dedicated one third of her life to her biotech blood testing company – Theranos. She is also the youngest female self-made billionaire. When she was 19 years old, she dropped out of chemical engineering to start her company because she was afraid of needles and wanted to revolutionize the blood testing industry. After starting out in the basement of her college house, she filed her first patent and worked in secrecy many years. Her company has now disrupted the laboratory industry, performing nearly 10 billion tests a year, and overturned the requirement for needles.

                  9. Learn the power of curiosity: Zhou Qunfei (Founder of Lens Technology)

                  Networth: 5.4 Billion (Forbes)

                  “The secret of my success was the desire to learn” – Zhou Qunfei

                  Self- made billionaire zhou qunfei

                    Zhou Qunfei is a self made female billionaire from China who built her glass lens company from the ground up. Her company supplies touchscreen glass to a quarter of all smartphones in the world. When she was 16, due to financial hardship and a need to support her blind father, she dropped out of school to work as an operator in a watch glass company. She learned the ropes of the glass making business before launching her own company in 1993. She self-taught herself at night, relying on books to create different technologies. In 2015, her company went public and made her an overnight billionaire.

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                    “Only through determination can you succeed, you can’t give up just because of a little setback.” – Zhou Qunfei

                    10. Learn to share your knowledge

                    Here are 5 more self made billionaires that have written books to share their wisdom to grow your entrepreneur path and teach you how to build it the easier way.

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                    Tracy Ma

                    Investor, Project Management Consultant, Entrepreneur

                    10 Self-Made Billionaires In The World That You Should Learn From

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                    Last Updated on February 11, 2021

                    Easily Misunderstood by Others? 6 Barriers You Should Overcome to Make Communication Less Frustrating

                    Easily Misunderstood by Others? 6 Barriers You Should Overcome to Make Communication Less Frustrating

                    How often have you said something simple, only to have the person who you said this to misunderstand it or twist the meaning completely around? Nodding your head in affirmative? Then this means that you are being unclear in your communication.

                    Communication should be simple, right? It’s all about two people or more talking and explaining something to the other. The problem lies in the talking itself, somehow we end up being unclear, and our words, attitude or even the way of talking becomes a barrier in communication, most of the times unknowingly. We give you six common barriers to communication, and how to get past them; for you to actually say what you mean, and or the other person to understand it as well…

                    The 6 Walls You Need to Break Down to Make Communication Effective

                    Think about it this way, a simple phrase like “what do you mean” can be said in many different ways and each different way would end up “communicating” something else entirely. Scream it at the other person, and the perception would be anger. Whisper this is someone’s ear and others may take it as if you were plotting something. Say it in another language, and no one gets what you mean at all, if they don’t speak it… This is what we mean when we say that talking or saying something that’s clear in your head, many not mean that you have successfully communicated it across to your intended audience – thus what you say and how, where and why you said it – at times become barriers to communication.[1]

                    Perceptual Barrier

                    The moment you say something in a confrontational, sarcastic, angry or emotional tone, you have set up perceptual barriers to communication. The other person or people to whom you are trying to communicate your point get the message that you are disinterested in what you are saying and sort of turn a deaf ear. In effect, you are yelling your point across to person who might as well be deaf![2]

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                    The problem: When you have a tone that’s not particularly positive, a body language that denotes your own disinterest in the situation and let your own stereotypes and misgivings enter the conversation via the way you talk and gesture, the other person perceives what you saying an entirely different manner than say if you said the same while smiling and catching their gaze.

                    The solution: Start the conversation on a positive note, and don’t let what you think color your tone, gestures of body language. Maintain eye contact with your audience, and smile openly and wholeheartedly…

                    Attitudinal Barrier

                    Some people, if you would excuse the language, are simply badass and in general are unable to form relationships or even a common point of communication with others, due to their habit of thinking to highly or too lowly of them. They basically have an attitude problem – since they hold themselves in high esteem, they are unable to form genuine lines of communication with anyone. The same is true if they think too little of themselves as well.[3]

                    The problem: If anyone at work, or even in your family, tends to roam around with a superior air – anything they say is likely to be taken by you and the others with a pinch, or even a bag of salt. Simply because whenever they talk, the first thing to come out of it is their condescending attitude. And in case there’s someone with an inferiority complex, their incessant self-pity forms barriers to communication.

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                    The solution: Use simple words and an encouraging smile to communicate effectively – and stick to constructive criticism, and not criticism because you are a perfectionist. If you see someone doing a good job, let them know, and disregard the thought that you could have done it better. It’s their job so measure them by industry standards and not your own.

                    Language Barrier

                    This is perhaps the commonest and the most inadvertent of barriers to communication. Using big words, too much of technical jargon or even using just the wrong language at the incorrect or inopportune time can lead to a loss or misinterpretation of communication. It may have sounded right in your head and to your ears as well, but if sounded gobbledygook to the others, the purpose is lost.

                    The problem: Say you are trying to explain a process to the newbies and end up using every technical word and industry jargon that you knew – your communication has failed if the newbie understood zilch. You have to, without sounding patronizing, explain things to someone in the simplest language they understand instead of the most complex that you do.

                    The solution: Simplify things for the other person to understand you, and understand it well. Think about it this way: if you are trying to explain something scientific to a child, you tone it down to their thinking capacity, without “dumbing” anything down in the process.[4]

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                    Emotional Barrier

                    Sometimes, we hesitate in opening our mouths, for fear of putting our foot in it! Other times, our emotional state is so fragile that we keep it and our lips zipped tightly together lest we explode. This is the time that our emotions become barriers to communication.[5]

                    The problem: Say you had a fight at home and are on a slow boil, muttering, in your head, about the injustice of it all. At this time, you have to give someone a dressing down over their work performance. You are likely to transfer at least part of your angst to the conversation then, and talk about unfairness in general, leaving the other person stymied about what you actually meant!

                    The solution: Remove your emotions and feelings to a personal space, and talk to the other person as you normally would. Treat any phobias or fears that you have and nip them in the bud so that they don’t become a problem. And remember, no one is perfect.

                    Cultural Barrier

                    Sometimes, being in an ever-shrinking world means that inadvertently, rules can make cultures clash and cultural clashes can turn into barriers to communication. The idea is to make your point across without hurting anyone’s cultural or religious sentiments.

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                    The problem: There are so many ways culture clashes can happen during communication and with cultural clashes; it’s not always about ethnicity. A non-smoker may have problems with smokers taking breaks; an older boss may have issues with younger staff using the Internet too much.

                    The solution: Communicate only what is necessary to get the point across – and eave your personal sentiments or feelings out of it. Try to be accommodative of the other’s viewpoint, and in case you still need to work it out, do it one to one, to avoid making a spectacle of the other person’s beliefs.[6]

                    Gender Barrier

                    Finally, it’s about Men from Mars and Women from Venus. Sometimes, men don’t understand women and women don’t get men – and this gender gap throws barriers in communication. Women tend to take conflict to their graves, literally, while men can move on instantly. Women rely on intuition, men on logic – so inherently, gender becomes a big block in successful communication.[7]

                    The problem: A male boss may inadvertently rub his female subordinates the wrong way with anti-feminism innuendoes, or even have problems with women taking too many family leaves. Similarly, women sometimes let their emotions get the better of them, something a male audience can’t relate to.

                    The solution: Talk to people like people – don’t think or classify them into genders and then talk accordingly. Don’t make comments or innuendos that are gender biased – you don’t have to come across as an MCP or as a bra-burning feminist either. Keep gender out of it.

                    And remember, the key to successful communication is simply being open, making eye contact and smiling intermittently. The battle is usually half won when you say what you mean in simple, straightforward words and keep your emotions out of it.

                    Reference

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