Billionaire Thoughts

How to think like a billionaire

Thomas Chandler
Billionaire Thoughts
How to think like a billionaire
Thomas Chandler
Copyright
What are you passionate about?
Become a lifetime learner
Give more than you take
Take calculated risks
Stay focused
Fail fast, learn from it and move on
Surround yourself with smart people
and be an equal partner in all
relationships
See the world as your playground
Have courage of conviction
Know how to manage risk and stress
better
About The Author
 Copyright

Billionaire Thoughts Copyright © 2022 by

Thomas Chandler
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Bill Gates once said, ‘Success is a lousy
teacher. It seduces smart people into
thinking they can’t lose’...If you’re not
failing every now and then, it’s a sign
you’re playing it safe, not trying hard
enough or just not doing something right,
writes Andy Rachleff in The Wealthy
Barber Returns...Where will your million
dollar ideas come from? How will you
avoid getting hit by one of the many
things that can slow your startup down?
What steps should you take to get your
business off the ground?
 What are you passionate about?
Passion is vital if you want to achieve
success, because it’s what will keep you
going when things get tough. Everyone
has setbacks in business and your ability
to think like a billionaire depends on your
ability to bounce back from failure—not
run away from it. No matter how
successful billionaires are, they’ve all had
their share of failures along with their
successes. Think about Richard Branson.
He started Virgin Records at age 20, but
by age 30 he was bankrupt. He went on to
start 300 companies that have employed
more than 60,000 people worldwide and
have created over $30 billion in revenue.
Despite his early struggles, he never gave
up on his dream of starting a company
that would change people’s lives for the
better. If you’re passionate about
something, then don’t give up on it just
because times are hard or someone tells
you no. Think like a billionaire and work
hard to make your dreams come true!
What makes money? The most important
thing for any entrepreneur is finding
something that makes money—and lots
of it! The only way to do that is by finding
out what other people want (or need) and
then giving them exactly that. So, how can
you find out what other people want? You
have to ask them. Asking questions will
help you determine whether or not your
idea has potential, because if no one
wants or needs your product or service,
then you’re wasting your time trying to
start a business around it. Don’t be afraid
to ask questions; after all, there’s no such
thing as a stupid question when it comes
to business. If you don’t know what else
to ask, think about some of these things:
What problem does my product solve?
Who would use my product or service?
How much would they pay for it? Why
would they buy from me instead of
someone else?
Money isn’t everything: If you think
making money is more important than
anything else in life, then think again. It’s
true that money can buy happiness—but
only up to a certain point. Studies have
shown that once your basic needs are met
(food, shelter, etc.), having more money
doesn’t necessarily make you happier or
help improve your overall quality of life.
 Become a lifetime learner
It’s easy to think of billionaires as know-
it-alls, but that couldn’t be further from
reality. Think about what Warren Buffett,
Oprah Winfrey, and Bill Gates all have in
common—they’re all voracious readers.
In fact, Bill Gates says he reads 50 books
per year. If you really want to think like a
billionaire, start reading more and
investing in your knowledge base; it will
pay off significantly down the road. Here
are some great places to start: Why We
Learn Nothing from History by Will
Durant, Thinking Fast and Slow by Daniel
Kahneman, How Asia Works by Joe
Studwell, and Sapiens by Yuval Noah
Harari. And remember, never stop
learning! The most successful people on
earth continuously push themselves to
learn new things every day. As Albert
Einstein once said, the only thing that
interferes with my learning is my
education. So read on! There’s always
something new to discover. As an
entrepreneur who has learned from your
mistakes (and successes), how would you
define success?
Success can be defined in many ways,
however I think for entrepreneurs who
want to achieve true success, they need to
ask themselves one question before
anything else...What's your WHY? -Derek
Handley If you're going to succeed as an
entrepreneur you need something more
than just a goal. You have to have a reason
why. Your WHY is what will keep you
going when things get tough and that goal
seems further away than ever. It's what
gives you drive and motivation when all
you want to do is quit. If you don't know
your why then it doesn't matter how
much time or money or effort you put into
something because it won't mean
anything if it doesn't serve that greater
purpose. The best way to find your why is
by asking yourself questions like why did
I start my business? Or why did I become
an entrepreneur? The answers might
surprise you but they'll also help guide
you through any challenges that come up
along the way. As an entrepreneur who
has learned from your mistakes (and
successes), how would you define
success? Success isn’t about getting rich
quick, having lots of followers on social
media or making tons of sales.
 Give more than you take
Being wealthy isn’t just about how much
money you have in your bank account. It’s
also about how rich you feel. One of my
biggest aha moments came while I was
working as an assistant for a billionaire
entrepreneur, who told me something
that really stuck with me: No matter what
your net worth is, you are never going to
feel rich if you are constantly looking for
ways to take advantage of others. It may
sound counterintuitive, but giving more
than you take will actually make you feel
richer—and it will be good for those
around you too. Giving more means being
generous with your time and energy;
helping people whenever possible; and
making sure everyone gets their fair
share of whatever it is that we all have
access to. In business, it means not taking
more than your fair share of profits or
opportunities. When you give more than
you take, it doesn’t just help others—it
helps yourself. And when you do get into
a position where you can give back
generously, don’t forget where you came
from! Helping other entrepreneurs
succeed is one of my favorite things to do.
If I hadn’t been helped along on my
journey by many mentors and friends, I
wouldn’t be where I am today. So why not
pay it forward? Why not reach out to
someone else who needs a little support
and offer them some guidance? Think like
a billionaire, act like a millionaire, give
like someone with far less than you have.
That’s how you live life like a billion-
dollar success story. You become a
billionaire by thinking like one. You start
living life like a billionaire when you think
like one, act like one, and give like one.
The truth is that most billionaires don’t
live lavishly because they want to impress
others with their wealth. They enjoy
luxury because they understand that
money makes everything easier and
better. Life is meant to be enjoyed, after
all. Think like a billionaire, act like a
millionaire, give like someone with far
less than you have. That’s how you live
life like a billion-dollar success story.
 Take calculated risks
For business owners and executives, part
of thinking like a billionaire is learning
how to take calculated risks. Identify
potential threats and opportunities at
every turn. When you have time, discuss
these risks with your team—and don’t be
afraid to make mistakes along the way.
The only real risk in business is not taking
one! Think long-term: Most billionaires
think long-term, which means planning
for today while keeping an eye on
tomorrow. While some people may look
to maximize profits over short periods of
time, billionaires are willing to put off
immediate gains for long-term success.
Some of them even set up foundations or
trusts that will support their family
members or organizations for
generations after they’re gone. Think big
picture: To become a billionaire, you must
learn how to think big picture from day
one. This doesn’t mean thinking about
money all day; it means thinking about
your overall vision for your company,
product or service. From there, you can
start to break down what it takes to
achieve that vision into manageable
pieces. Develop relationships: Successful
entrepreneurs know how important
networking is when it comes to growing
their businesses—and many say it’s just
as important when it comes to building
their personal wealth. As you work
toward becoming a billionaire, consider
joining groups related to your industry or
creating your own network of friends and
colleagues who share similar goals. Be
confident: It’s easy to feel intimidated by
those who seem more successful than we
are, but successful entrepreneurs know
that confidence is key to achieving our
goals. As we build our own empires, we
should remind ourselves daily that we
deserve success because we work hard
and do great things for others.
Remember, too, that self-confidence isn’t
something everyone has. By putting
yourself out there and pursuing your
dreams with gusto, you’ll inspire others to
think bigger them. Learn from your peers:
Finally, remember that most billionaires
started small just like everyone else—so
don’t hesitate to reach out if you want
advice or feedback from other business
leaders who have been where you are
now. Use online forums, conferences and
meetups to connect with like-minded
individuals. And don’t forget that mentors
are everywhere; sometimes you just need
to ask for help. Think back on your career
path: Where did you start? What did you
do? Who helped you along the way? How
did your experiences shape who you are
today?
 Stay focused
A billionaire is someone who can focus
their attention on what’s important and
let go of everything else. If you want to
think like a billionaire, learn how they
prioritize their tasks. First, they identify
their top priority and tackle it head-on.
They don’t think about anything else until
that task is complete. Then, they move
onto their next highest priority and work
on that until it’s done. This practice helps
them stay focused and get more done in
less time than most people do in twice as
much time. Try applying these principles
to your own life by identifying your top
three priorities for today and working
only on those things until each one is
complete before moving onto your next
highest priority for today—and then
repeat tomorrow! It may seem difficult at
first, but soon you’ll see yourself getting
more done than ever before. In fact, I did
an experiment with some friends recently
where we tried thinking like billionaires
for 30 days straight. The results were
astounding—I was able to take care of
four times as many tasks every day than I
had been previously (including writing an
entire book!) and save thousands of
dollars per month in wasted time and
energy. To give it a try, simply write down
your top three priorities for today, and
make sure you only work on those things
until each one is completed before
moving onto your next highest priority.
You’ll be amazed at how much more you
can accomplish when you stop trying to
do too many things at once! After reading
my advice, my friend thought it over and
decided to follow through with my
challenge. What he found was truly
amazing... within just one week he had
gotten more done than he normally would
have accomplished in two months. Within
a month he had finished his entire
backlog of tasks—he even found himself
making money while doing something
completely unrelated to his normal
business because his mind wasn't
distracted by all of his other unfinished
projects. He's now using these techniques
in his everyday life to help him get more
done faster than ever before. Will you join
him? Give it a shot for just 30 days and
see if you notice any changes in your
productivity levels or stress levels!
Fail fast, learn from it and move
on
According to billionaire David Spector,
Failure is part of success. If you don’t fail,
it means you’re not trying hard enough. I
learn more from my failures than I do
from my successes. As long as it doesn’t
put you in financial ruin or break your
spirit, embrace failure as a stepping stone
for future success. You have to be willing
to take risks and try new things.
Sometimes they will work out and
sometimes they won’t but either way, it
will make you stronger and smarter for
your next venture. The riskiest thing you
can do is nothing at all. Remember that
failing fast and learning from it are two
different things. Make sure you
understand what went wrong before
moving on to your next idea! There is
always room for improvement and you
should never stop working towards being
better.
No one becomes successful overnight.
Think about some of today’s wealthiest
people; Bill Gates, Richard Branson, Mark
Zuckerberg etc., none of them became
rich overnight and they had their fair
share of mistakes along the way. Success
takes time, effort and perseverance so
keep working towards your goals no
matter how big or small they may seem!
Just remember that it is never too late to
start. You are never too old or too young
to begin chasing your dreams.
In order to be truly successful you need
two things; motivation and
determination. Without these two things
you will not get very far in life, especially
when it comes to making money. The only
difference between those who are
wealthy and those who aren’t is that
those who are wealthy have more
motivation than most people do and they
work harder than most people do as well.
If you want to become rich then all you
have to do is figure out what motivates
you and then use that motivation as fuel
for your success. There are no limits or
boundaries on how much money you can
make if you set your mind to it! If
someone tells you otherwise then don’t
listen because chances are they just don’t
want to see others succeed because of
their own jealousy or envy. Don’t let
anyone tell you what your limits are
because there really aren’t any!
Surround yourself with smart
people and be an equal partner in
all relationships
And I’m not just talking about your
business partners—I mean you need to be
smart about which you surround yourself
with in life, too. Read books (it helps if
they’re biographies of successful people),
attend conferences, and talk to other
entrepreneurs. It doesn’t matter what
career path you choose, surrounding
yourself with like-minded and smart
people will be one of your most powerful
tools for success. If you’re an
entrepreneur, it can also help to think of
yourself as an equal partner in all
relationships; don’t expect others to carry
more weight than you do because it won’t
happen. If someone isn’t carrying their
weight or is being unfair, then stop being
friends with them or let them go as a
partner. You don’t have time for that kind
of negativity! Treat everyone fairly, but
know when to move on from those who
aren’t committed. After all, how can you
think like a billionaire if you hang out
with broke people?
Or...Be willing to get over your fears:
Think back on some of your greatest
accomplishments in life. Did any of them
come without risk? Doubtful. Thinking
like a billionaire means being willing to
get over your fears and push forward
toward something great despite any
uncertainty involved along the way. It’s
not always easy, but it’s worth it. If you
have an idea for a business, don’t let fear
stop you from pursuing it; if you want to
make money, don’t let fear stop you from
making that money; if you want to be
successful, don’t let fear stop you from
achieving success. Think about what
you’re most afraid of, then think about
why that might be—and then do
something about it! Be brave and go after
what you want. After all, how can you
think like a billionaire if you aren’t brave
enough to take risks?
Or...Make decisions based on logic rather
than emotion: Thinking like a billionaire
doesn’t mean ignoring emotions entirely
—but it does mean basing decisions on
logic rather than emotions. If you have an
idea for a business, but your gut tells you
that you shouldn’t pursue it, then don’t; if
you want to make money, but your gut
tells you that there are other ways of
making money that are more likely to be
successful, then take note; if you want to
be successful, but your gut tells you that
there are other things in life more
important than success (and I believe
there are), then listen! Make sure that
your decision-making process is
grounded in facts and evidence as much
as possible, not just feelings. After all, how
can you think like a billionaire if you let
feelings get in the way? Or...Think big!
Thinking like a billionaire means thinking
big. It means setting lofty goals and
pushing you to achieve them. So if you
have an idea for a business, think about
what kind of impact it could have on
society; if you want to make money, think
about how many people could benefit
from your work; if you want to be
successful, think about what kind of
legacy you might leave behind.
See the world as your playground
The best way to think like a billionaire is
by viewing your life as an adventure. The
truth is, you have a shot at living every
teenager’s dream—not because you
scored an internship or got into college,
but because of what you did with that
internship and how hard you studied in
college. Achieving billionaire status
requires risk taking and taking chances.
To think like billionaires do, it’s important
to see life not just through your own eyes
but through others’ too. In other words,
try to put yourself in their shoes. You may
even want to ask yourself: What would I
do if I were them? By seeing things from
other people’s perspectives, you can
begin to understand their motivations
and anticipate their actions. This will help
you think like a billionaire. And
remember, it doesn’t matter where you
start; it matters where you end up. Your
success has more to do with how you
think than where you are right now. So
think big! As one of our favorite
billionaires, Warren Buffett says, I never
attempt to make money on the stock
market. I buy on principle. Then I wait. If
all goes well, my investment will be worth
far more than when I bought it. If all does
not go well, I still won’t lose anything
except maybe a little sleep.
There are only two ways to live your life –
One is as though nothing is a miracle –
The other is as though everything is a
miracle – Albert Einstein. We all have an
opportunity to create miracles in our
lives. We can choose to see how lucky we
are, or how unlucky we are. We can
choose to see what’s possible or what’s
impossible. In fact, it’s not even a choice;
it’s just who we decide to be. It all starts
with our thoughts and beliefs about
ourselves and our world. If you believe
that something is impossible, then that
thought alone will stop you from
achieving it.
 Have courage of conviction
Any billionaire will tell you that courage
of conviction is one of their most valuable
assets. Many billionaires come from
humble beginnings, where they had little
going for them besides a good idea and
solid conviction in that idea’s potential.
Without that courage of conviction, it’s
unlikely any of us would be looking at
them as billionaires today. If you don’t
have it, work on developing it. Start small
by choosing an idea or belief that really
matters to you—and then stick with it
through thick and thin. Don’t let anyone
sway your opinion or make you feel guilty
about your choices; after all, if you don’t
believe in what you’re doing, no one else
will either. Once you can stand up for
yourself, start standing up for others who
share your beliefs. That kind of courage
can go a long way toward making those
around you more courageous themselves
—which can lead to positive change not
just in yourself but also in others and
ultimately in society as a whole. The next
time you find yourself wavering in your
convictions, ask yourself how Bill Gates
might respond to the situation. Would he
run away? Or would he face his fears
head-on? You might be surprised at how
easily you can adopt some of his
billionaire thought patterns into your
own life! The first step is believing you
can succeed: If you want to think like a
billionaire, it helps to understand that
billionaires don’t think differently than
other people do—they simply have
greater faith in their ability to succeed.
This means being prepared for anything
that comes your way and having full
confidence in your ability to handle
whatever comes next. You never know
when success will strike; if it hasn’t
already, it could happen tomorrow
morning or five years from now. Having
faith in your ability to succeed doesn’t
mean you should take foolish risks or put
yourself in dangerous situations; rather, it
means trusting that no matter what
happens, you will be able to think clearly
and make smart decisions based on facts.
It also means trusting that even if things
don’t turn out exactly as planned, there
are still plenty of opportunities out there
waiting for someone with your skills and
abilities. Remember that thinking like a
billionaire isn’t about thinking big—it’s
about thinking realistically. After all, you
don’t need to think bigger than everyone
else in order to think bigger than you
used to think. Thinking bigger isn’t
always better: While we tend to associate
billionaires with big ideas and giant
dreams, many of these individuals
actually started off small.
 Know how to manage risk and
stress better
Billionaires know how to manage risk and
stress better than most. Warren Buffett is
famous for saying, Rule No. 1: Never lose
money. Rule No. 2: Never forget rule No.
1. This rule explains why so many
billionaires are afraid of losing money—
they know that if they lose it, they’ll never
get it back, and their business will be
seriously damaged as a result. As a result,
billionaires are extremely careful about
managing risk. They avoid taking on too
much debt in case things go wrong; they
diversify their portfolios; and they hedge
against market downturns by investing in
other assets like real estate or private
equity firms. On top of all that, billionaires
also take time to meditate every day—not
just because it helps them think more
clearly but also because it helps them deal
with stress better (see point below).
Billionaires can afford personal assistants
to help them schedule everything from
doctor appointments to meetings, but
even when those people aren’t available,
billionaires still make sure they spend at
least 15 minutes a day doing nothing at
all. That way, when their minds do
wander toward stressful thoughts or fears
about what might happen next week or
next month, there’s space in which those
thoughts can come up without
overwhelming them. It may sound
counterintuitive, but thinking big actually
requires us to think small sometimes. If
you want to become a billionaire, start by
thinking about your life one hour at a
time. Don’t worry about whether you
have enough savings to retire yet—think
only about what you need to accomplish
in order to hit your daily goals. And don’t
think about what you should be doing
right now—think only about what you’re
doing right now. At first, thinking in terms
of hours rather than years or decades
might seem strange. But after a while, it
becomes second nature. You won’t feel
pressured to think bigger than you should
be thinking; instead, you’ll feel relaxed
and confident knowing that no matter
how well or poorly things are going today,
tomorrow will bring new opportunities
for growth and improvement. In fact,
thinking small isn’t just good advice for
billionaires—it’s good advice for
everyone. After all, if you think big
without thinking small first, you could
end up making some pretty bad decisions.
For example, say you decide to start your
own company because you think that
eventually it could be worth $1 billion.
While you’re working toward that goal,
however, your company ends up running
out of cash and goes bankrupt. Now
you’ve lost everything—and not only did
you fail to achieve your goal of becoming
a billionaire, but you also failed to learn
anything along the way. Thinking small
doesn’t mean thinking tiny—it means
thinking realistically about what can be
accomplished within an hour or two each
day.
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 About The Author

M. Shahbaz is a writer and publisher. He

is known by his pen name Thomas
Chandler. He publishes books in different
languages. These include English,
German, French, Spanish, Italian,
Portuguese, and Dutch.