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

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https://www.lifehack.org/363334/10-self-made-billionaires-the-world-that-you-should-learn-from

lifehack.org

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.

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“If something is important enough, even if the odds are stacked against you, you should still do it.”

Elon Musk

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Hustle Early In Life

Elon Musk (Founder Of Spacex, Tesla Motors And Contributor To Paypal): Musk, at 12 years old, taught himself to code and sold a game he made for $500. When he moved to Canad...

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

Sara Blakeley

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Give To Those Who Truly Need It

Sara Blakely (Founder Of Spanx): 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. She also st...

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Learn To Grow Your Investments

Warren Buffett (CEO Of Berkshire Hathaway): He’s an American investment wizard and businessman who started investing in stocks at 11 years old and real estate investing at 14 years old. He’s had a ...

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

Guy Laliberté

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Be Comfortable With The Uncomfortable

Guy Laliberté (Co-Founder And Former CEO Of Cirque Du Soleil): He started as a street performer playing the accordion, walking on stilts and eating fire. In 1987, he co-founded a circus troupe in M...

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

Oprah Winfrey

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Circumstances Don’t Matter

Oprah Winfrey (CEO Of Oprah Winfrey Network): Considered one of the most influential women in the world, she is an American media mogul, producer, talk show host, author and...

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Learn The Real Value Of Money

Mark Cuban (Owner Of The Dallas Mavericks, Landmark Theatres, Magnolia Pictures And Chairman Of Axs Tv): Before his billionaire days, he learned to stretch his dollar by living of ketchu...

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Learn To Be Mentally Tough

Jack Ma (Founder Of China Yellowpages And Alibaba): His mental toughness and resilience got him through many failed school and university exams. After graduating, he went on to dozens of rejections...

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Learn The Power Of Curiosity

Zhou Qunfei (Founder Of Lens Technology): 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 compan...

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SIMILAR ARTICLES & IDEAS:

Practice Discipline

Billionaires are often highly disciplined and set extraordinarily high standards for themselves and the people around them. Of course, they have lazy and unmotivated days but they don’t allow thems...

Commit To Routines

Routines and rituals are sets of habits that, when practiced consistently, lead to profound, long-term results. Most billionaire routines start early in the day and include exercising, reading and contemplating.

It doesn’t matter when you do your routine activities. What counts is that you commit to doing them — even when you don’t feel like it.

Contemplate

Billionaires love setting aside alone time. .. To think. They might do this by meditating or some other relaxing activity they enjoy.

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The five-hour rule

No matter how busy successful people are, they always spend at least an hour a day (thus five hours a week) learning or practicing. And they do this across their entire career.

Bara...

Read

Besides expanding your knowledge, reading can give you a good head start; this is often what your peers cannot obtain. 

Even if you can't commit to an hour or more of reading every day, start with 20 to 30 minutes.

Reflect

The five-hour rule also includes reflecting and thinking. This could be just staring at the wall or jotting down your thoughts.

Focusing on the past gives you a chance to learn from mistakes you've made, as well as assess what you did correctly. As a result, you’ll be better suited to achieve your goals and improve your life.

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Using Decision Trees

  • Understand the different outcomes that could happen (both positive and negative)
  • Calculate the expected return or loss of each outcome
  • Attach a probability to each outcome
  • ...

Use Decision Trees 

Elon Musk uses decision trees to make big decisions (a tool that uses a tree-like graph or model of decisions and their possible consequences, outcomes, and resources). They are particularly useful for avoiding stupid risks and big bets that aren’t likely to succeed.

Most became a billionaire by making unlikely big bets, as their expected return statistically was much higher than safer bets.

Build Deep, Long-Term Relationships

One of the best ways to get information is not from just being better at searching Google, it’s from learning how to build a network and get the information you need through that network. 

This network should include people’s lessons learned and hacks, topics that are too sensitive to talk about because they make someone look bad, and tacit knowledge (knowledge that people have but aren’t able to articulate).

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