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20 Habits Of Billionaires That You Can Do

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billionaires

According to billionaires, money is a byproduct of their daily habits. If this is true, they must have some amazing habits! Lucky for us, most billionaires today are self-made. They worked hard to get to where they are today. If so, there must be some things we can do to gain financial success. Here are some things billionaires do every day that you can do too.

1. Avoid Death

If you want to enjoy your money, avoid things that are bad for you. People do not become billionaires by spending all their money on junk food. According to studies, 70% of the rich eat less than 300 junk food calories per day compared to 97% of needy people who eat more than 300 junk food calories. 76% of the wealthy also exercise aerobically four days a week compared to 23% of the needy.

2. Practice Gratitude

When you’re stressed or angry, find things to be thankful for. This can be very hard but sometimes it’s best to see the silver lining.

3. 10 Ideas Per Day

Get into the habit of 10 ideas per day. Not all of them will come to fruition but some of them might. You never know unless you try it.

4. Plant Seeds

We’re not talking about a garden here but a seed that will turn into ideas, relationships or products someday. Write a thank you note, start an exercise routine, send ideas, eat well – you get the picture.

5. Learn To Say No

This can be hard for some people but if you learn how to say “No” you will have more time to read, learn, explore, sleep, spend time with family, work on ideas and many more.

6. No Excuses

Nothing ever good comes from blaming, complaining and explaining. Excuses take time and sometimes its action that you need.

7. Follow Warren Buffet’s 5/25 Rule

Write down 25 things you want to do with your life. When you’re done, go do the top 5. Forget about the other 20 because who has time to do all that? Focusing on the 5 will give you time to spotlight things that are important to you.

8. Don’t Rush

Success takes time; you can’t be an overnight success. It can take years to become a billionaire so be patient and celebrate small successes on the way.

9. Read

Read not only for learning but for relaxing too. Make it a habit to read at least 30 minutes a day every day.

10. Wake Up Early

Warren Buffet, Bill Gates and Richard Branson are all early risers. Getting up early lets them work without disturbance or to exercise before they tackle everyday things.

11. Make Mistakes

You don’t need to be scared to make mistakes. They can be good teachers or serve as inspiration.

12. Sleep

Ever notice that you’re cranky when you’re sleep deprived? Sleep rejuvenates the brain and repairs brain cells and the body. Sleeping the appropriate number of hours per night and getting to a regular sleep pattern can boost productivity and make you happier.

13. Surround Yourself With People You Love

Surround yourself with family and friends. People that you love can help boost your confidence and inspire you to do better.

14. 1% a Day

1% a day is 3800% a year compounded. If you want to get better at something, do it 1% better each day. It’s a win-win situation.

15. Ask Questions

Brian Grazer, the producer behind Apollo 13 and Arrested Development liked to ask people questions. He would call up the Dalai Lama or Steve Jobs and have “curiousity conversations.” This is how he met Ron Howard and how they started Image Films which created the famous TV show Empire.

16. Stand Next To The Smartest Person In The Room

Steve Jobs did this by standing next to Steve Wozniak and Harold Raims did it by standing next to Bill Murray. The next is true with Kanye West (Jay-z). Stand next to the smartest person in the room and watch what they do.

17. Follow-Up

This is a habit that’s hard for shy people. Don’t be afraid to email and follow-up on that idea or nice to meet you email.

18. Be Single Minded.

80% of successful people are focused on accomplishing one single goal. Only 12% of less successful people do this.

19. To-Do List

If you want to accomplish your goals make a to-do list to keep track of things. Be like 81% of successful people and get into this habit.

20. Do 1 Thing You Loved As A Kid

Do 1 thing you loved to do as a kid every day. If you loved biking or playing with your dog, this can be the one thing that fuels your life.

Business

15 Ugly Truths About Entrepreneurship Everyone Should Know Before Starting a Business

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Entrepreneurship

Becoming an entrepreneur is like taking the road less travelled. There is no map and you will always feel uncertain about your decision. If you decide to take an entrepreneurial journey, it’s going to be a bumpy one. However, nothing worth having comes without a degree of risk. Therefore you need to arm yourself by avoiding common “beginner” mistakes. You have to understand that entrepreneurship is not all sunshine and roses. There are some ugly truths that you need to know about before setting off.

1. You Can Lose Everything

A business is a financial risk. You can start a business with a small capital but eventually you need lines of credit for inventory and operations. In some cases, you might also need to take on loans to help the business grow. This means you will be taking on debt.

2. Extreme Stress

With everything riding on the line, prepare yourself to experience extreme stress. If you think exam stress is hard enough, it is nothing compared to taking the entrepreneurial path. When you start a business, everything is on your shoulders and there is nobody to pass the buck to.

3. Forget About Hanging Out

Expect to lose touch with family and friends. Becoming an entrepreneur is very demanding on your personal time especially in the beginning. There will be people in your life you will lose touch with because you will not be able to give them enough time.

4. It’s Going To Take Long

Don’t expect your business to take off overnight. Prepare yourself for sleepless nights and to work double time to achieve the results you want. In this event, you need to plan accordingly no matter how small or big the venture.

5. Regrets

Over time you will regret taking this path. This is normal especially if you see friends connecting on weekends while you work later into the night. This will make you regret leaving the comfort of your 9-5 job. But don’t worry because some of your friends will also regret taking risks.

6. Anxiety Competition

It is normal to think and worry that somebody out there is executing the same idea in a better way. Having anxiety over the competition is part and parcel of becoming an entrepreneur. Don’t let this drag you down but inspire you to work harder and become better than your competitor.

7. Other People Depend On You

You are now the employer. People now depend on you so that they can provide for their families. You will need to endure this even though you are sick, have personal things going on in your life because the business and your people are depending on you.

8. Success and Failure Will Impact Your Relationships

When you’re successful, everybody will want to work with you and be your friend. When you’re failing, it’s going to be the opposite. There will be many moments of celebration and frustration. For every friend you make, somebody will turn their back to you.

9. You’re It

Everybody is going to be dependent on you. Essentially, you are it; every responsibility will fall back on you. Being a leader means that you take this entrepreneurship responsibility and when there are problems you take the helm of the ship.

10. No Guarantee

Going to business is not a guarantee of anything. No matter how great the idea, product or team behind it; it’s still going to be the market that decides. In other words, your hard work is not a guarantee of success.

11. No Appreciation

Hard work is not only a guarantee of success it does not also guarantee appreciation. You have to remember not to expect it.

12. Success is Not Measured In Weeks

As you go along your journey, you will learn that success is not measured in weeks, months, quarters or years. While business is small, success can be measured easily. However as you go along you will realize that measuring success will take longer periods of time.

13. Your Stomach Will Twist

Entrepreneurship will make your stomach twist during unexpected situations like when you’re operating at a loss or when a supplier bails on you in the middle of a project.

14. You Will Have To Learn To Move On

Over time you will become attached to the business and cutting ties with people will be difficult. However, entrepreneurship is about adjusting and you will need to learn when you need to move on.

15. When You Fail, It Will Have Your Name On It

If you fail, people will know about it. Family and friends will know that you drove a ship and crashed. Many don’t follow the entrepreneurial road because of this thought.

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Business

Tips On How To Manage An Online Business

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Business Online

Having the right e-commerce site can make shipping and tracking your inventory easier. IT is constantly changing and it is important to have a secured site to make sure your customer’s data is safe. Following these steps will seem daunting at first, but remember that success will come if you keep pushing towards your goals. America was built by small business owners and with faith, you can have a profitable online business.

Determining your target audience.

The first step in opening an online business is determining who will be your target audience.  It is important to research your competition online and find out who will be buying your products. There is a lot of competition online, so you have to find a way to stand out. I suggest coming up with a unique business name or signature product. Separating yourself from the rest of other online businesses is important to succeed long term.

You also have to decide if you want to sell a product or provide a service. Once you have identified your business model, you will need to come up with the terms of your business. I suggest seeking legal advice, so you can protect your company. It will need to be clear to your customers who you are as a business and what service you provide. It is also important to outline how you will provide customer service and solve any problems that arise.

Selecting the products you want to sell or determining which services you want to offer.

Before you start selling products or offering services, it is important to get registered with the state you are in. There are many advantages of becoming an LLC or incorporating your company. I recommend researching the options that are available in your state. It is important to protect your brand and make your customers trust you as a business owner.

In order to succeed as an online business, you need to have a strong vendor list. Being a licensed company makes more vendors’ want to work with you. Once you have added companies to your vendor list, you need to decide how you want to market your business. You can either hire a SEO company, marketing firm, or you can learn how to do it yourself. There are hundreds of free online tutorials on how to market your company for free on social media sites and YouTube. You can also use Google AdWords and Adsense to help promote your business. There are also several apps that can help you manage your social media sites as well.

Making sure your e-commerce site is effective.

I suggest hiring a website developer or technology company to build your site. There are several user friendly e-commerce sites that are very easy to set-up yourself. Having the right IT support to very important, because they can quickly resolve any issues that may arise.

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Events

Supercharge Your Online Business With Offline Meetups

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offline meetups

Online entrepreneurs forget about the importance of connecting with other people locally. These types of relationships are still one of the best ways to get the word out about your online business to supercharge your opportunities to the sky. Although online businesses run 100% in the digital world and can operate from anywhere in the world, building face to face relationships is still one the best techniques for business development and to get the word out about your brand. Although online businesses need many factors in place for them to succeed, offline meetups has been one of my secret weapons through my journey. Small live events can turn any business around, especially when you’re starting out! Whether you have a B2C or a B2B, meeting people in an offline atmosphere will get you much farther than cold calling or cold emailing.

In 2015 I used local meetup events to turn my side-business doing web design and SEO services into a team making 6 figures in the first 12 months. I also used these same tactics to turn my side-business selling matcha green tea into a 6 figure brand with a physical location inside a mall. Now, keep in mind I don’t live in Silicon Valley or any sophisticated city, but this applies to really anywhere in the world where there’s more businesses around you!

As crazy as this story sounds (it was in fact a crazy ride), local offline meetups play a big role on many success stories out there. These types of events allow you to connect not only with potential clients, but also with local media celebrities or can open the door to connect with somebody else that can give your online business a huge boost.

Go out and meet people

Although social media makes it easy to meet new people, it takes a long time to build trust with somebody you met online. It’s much more effective to connect off-line on small live gatherings than it is to spam or stalk somebody online.

Most offline meetups are between 50-100 people sharing a meal or a cup of coffee. Not only are they useful, but they are so much fun! Is not necessary to introduce yourself to every single attendee; you only need to connect with key people on that event.

For example, introducing yourself to a few attendees will give you a generic idea of what type of people are standing around you. Most times, when you share more about your story and your online business, people will guide you in the right direction on who you should be talking to. You never know who you might run into on the next meetup event. It’s common to run into local PR and media people that are looking for stories like yours which could get you featured on a local magazine or TV show. It’s also easy to run into that one person who can help you get into the next retail store or simply connect you with one of the biggest players in town that might need your services too.

Find local meetups in your area

As you know, thanks to all the majestic tools we have on the internet, we’re only a few clicks away from finding what we need. The best tools to find a local meetup gather is meetup.com, or you can also look them up on Facebook Groups or LinkedIn Groups. Start by looking for groups that are in your niche. If you’re into fitness, it’s very easy to find fitness gatherings or classes that you can attend. On the other side, if you’re looking to connect with other entrepreneurs, type in “business” or “entrepreneurs” + your city and I promise you will find at least 1 group close enough to you to attend this week. After you have found that perfect meetup gather that you want to attend, these are some of the tips and tricks you need to know to get the most out of your first (and every other) meetup events.

  1. Find more about the organizer of the offline meetups and reach out to them. Organizers are passionate about meeting people, so they will be thrilled to hear from you!
  2. Shoot the organizers a message in a non-salesy way and offer value to them by offering some of your tips or knowledge on an upcoming event. Ask them if there’s anything you can do to help them solve any of their problems.
  3. Assist the next meetup event they have without making it a sales tactic. Make sure you introduce yourself to the organizers in person as well. Ask the organizers if they know anybody in the room that you should be talking to about your online business. They will be happy to introduce you to the next contact that can open a new door for you.
  4. The key to this technique is to focus on building strong relationships and to create opportunities, without selling anything! The moment you start selling your products, people will start stepping away from you. Focus on building strong relationships by offering value to everyone you meet and when the moment is right, you will be able to pitch to them if they’re ready for it.

Most online entrepreneurs are afraid to go to offline meetups and meet people and for that reason they’re missing out on huge opportunities. For this same reason, you need to go out and meet as many people as you can.

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