Be Comfortable With The Uncomfortable - Deepstash

deepstash

Beta

Get an account to save ideas & make your own & organize them how you wish.

deepstash

Beta

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

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 Montreal and took a big risk moving it to Los Angeles which eventually led to it becoming 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.

2466 SAVES


This is a professional note extracted from an online article.

Read more efficiently

Save what inspires you

Remember anything

IDEA EXTRACTED FROM:

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

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

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

lifehack.org

12

Key Ideas

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

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

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 Canada, he worked odd jobs including tending vegetables, shoveling out grain bins, and cleaning out gunk from a boiler room in a lumber mill.

In university, Elon sold computer parts to make extra cash and turned his 10 bedroom fraternity home into a nightclub on the weekends and charged a cover. Since then, he’s built several companies, including SpaceX, Tesla Motors, PayPal, and zip2.

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

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

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 started the Sara Blakely Foundation to help women through education and entrepreneurship and later joined the ‘Giving Pledge’, a commitment to donate the majority of her wealth to help others who truly need it.

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 few businesses and grew Berkshire 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.

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

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

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 Montreal and took a big risk moving it to Los Angeles which eventually led to it becoming 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.

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

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

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 philanthropist.

She grew up in poverty and by the time she was fourteen, she suffered physical abuse, molestation, and the death of her first newborn. A few years later, she won a beauty pageant, got her degree in speech and performing arts and became an ABC news anchor.

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 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 on the cheap for a long time in order to build and grow his businesses and investments into a multi-billion-dollar empire.

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 from jobs.

Before becoming rich, he was kidnapped on a business trip to Los Angeles, threatened with a gun, and held captive in Las Vegas before managing to escape. His mental toughness, resilience, extreme determination and passion to achieve his goals eventually paid off and he went on to build a massive internet empire.

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 company.

She learned the ropes of the glass making business by studying alone at night and relying on books to create different technologies. Now, her company supplies touchscreen glass to a quarter of all smartphones in the world. 

SIMILAR ARTICLES & IDEAS:

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.

one more idea

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.

3 more ideas

Start Now

The sooner you start managing, saving, and investing your money, however limited, the better off you'll be as long as you avoid mistakes like investing everything into one stock. That’s t...

Oprah Winfrey
Oprah Winfrey

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

Christopher Paul Gardner
Christopher Paul Gardner

“… the secret to success: find something you love to do so much, you can't wait for the sun to rise to do it all over again."

5 more ideas

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).

9 more ideas

5. Read For Immediate Rewards

Studies show that there’s correlation between human behavior change and immediate rewards. Receiving immediate rewards releases dopamine in our brains, which compels us to seek more of the a...

4. Use Triggers to Your Advantage

We often start habits and drop them a few days later. To combat this, you can use triggers to remind you to practice the habit. Examples of triggers:

  • Reading at the same time everyday will prime your brain to automatically trigger itself to begin reading.
  • Leaving your books in places you will easily see is another trigger. If you read books digitally you could pin your tab so it’s always in your visual perspective.
3. Stop Before You’re Finished

Studies indicate that the Zeigarnik Effect is real. It says you are more likely to recall uncompleted tasks than completed ones.

Knowing this pattern of our brains, we can trick it by forcing cliffhangers when we’re reading books. It’s hard to stop reading in the most interesting part but it will make you want to start reading again.

4 more ideas

Never Lose Money
  • Rule No 1: Never lose money.
  • Rule No 2: Never forget rule No. 1.

If you work from a loss, it's much harder to get back to where you started, not to mention ea...

High Value at a Low Price
  • Price = what you pay.
  • Value = what you get.

You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.

You gain money when you look for opportunities to get more value at a lower price: For example, buying quality merchandise when it is marked down.

Form Healthy Money Habits

Most of your behavior is habitual. You can change your habits and the earlier you start, the better.

Saving is a habit. Learn the habits of saving properly early. Pay attention to your money habits. Strengthen those habits that help your finances, and break the habits that hurt your finances.

7 more ideas

“Number one: Sales cures all. There has never been a company in the history of companies that has ever succeeded w..."

Mark Cuban

“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”

“I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”

“What I love doing is creating things I can be proud of, and if you create things that you can be proud of, the byproduct of that can be that you become a millionaire or you become a billionaire, because people like what you’ve created.”

“What I love doing is creating things I can be proud of, and if you create things that you can be proud of, the byproduct of that can be that you become a millionaire or you become a billionaire, because people like what you’ve created.”

6 more ideas

Avoid Randomness

... when you are ready to wind down your day. This includes not getting stuck in front of screens, social media or even doing a marathon of our favorite show.

The brain is firing up dopam...

Eliminate Negativity

Negative emotions can lower your immunity. They affect every part of your body. Carrying them up to sleep will affect your health causing you to lack the necessary rest your body needs.

Doing something that lights you up can help shift the mood. Force your mind to think of good thoughts. 

Do One Thing You Love

Your brain relaxes when you do something that is delightful. It puts you in a safe zone where you can enjoy yourself for the time being.

Doing it just before going to bed is the best time because it helps to seal the positive energy that will condition your mind the next day.

7 more ideas

The next Oprah

While everyone would want to be the next Oprah, the place is already taken.

The right approach is being yourself, or a better, refined version of yourself, to the 'smallest viable audience', ...

Outliers

Outliers are extreme examples of people who are on the outer edge of success or have a radically different life, glorified by the media.

Following Outliers leads normal people to make decisions based on false hope and highly unlikely possibilities.



Unique Circumstances

We need safe, nurturing environments to be our best, to blossom into what we truly are destined for, no matter how big or small, in our unique way.

We are provided with unnecessary pain and suffering by the constant comparison with people who are born radically different from us and are having different circumstances. 

2 more ideas

Steps To Happiness At Work
Steps To Happiness At Work
  • Avoid "good" and "bad" labels. 
  • Practice "extreme resilience": the ability to recover fast from adversity.
  • Let go of grudges.
  • Don't wa...