Right from the start, the billionaires had clear ideas with big goals, for the implementation of which they followed certain principles. These principles are the so-called “billionaire formula” according to which the most successful business leaders of our time act to a large extent.
1. Innovation – Think about tomorrow today
Each of these characters is driven by the goal of creating something that doesn’t exist today, but could become of great importance to humanity in the future. The keywords “innovation” and “future” are the biggest drivers of success.
As visionaries, they invest in new technologies and innovative startups in order to create tomorrow’s future today. This requires conviction and trust in the success of one’s own idea.
Both Gates and Musk and Bezos, for example, believed in their own idea and product against all doubters. They believed in the companies they eventually created to create a niche in the market, or to bridge market segments.
2. Technology as the solution to all problems
The second aspect of the billionaire formula also deals with the confidence that a visionary should possess. For Gates, Musk and Bezos, confidence is strongly linked to trust in technology. This is considered the heart of every progress.
Confidence in technical possibilities makes the billionaires believe that innovative technologies will sooner or later solve many of mankind’s problems.
That’s how she plays digitalization According to the Visionre, it plays a key role when it comes to overcoming fundamental problems such as water shortages, child mortality and diseases.
3. Logic trumps emotions
Being able to take setbacks is one of the most important characteristics for becoming a successful entrepreneur. In the event of problems, your own logic should always direct the following action steps without being guided by emotional impulses.
According to a former Musk employee, according to Business Insider, Musk basically analyzed all business matters and problems without empathy. He always referred to pure logic and questioned all connections accordingly.
There is no room for nostalgia and regret on the road to success.
4. Calculated Risk
Although logic and predictability play an important role in successful business people, this does not preclude taking calculated risks.
Without risk, there is hardly any room for innovation – because those who always rely on established technologies do not develop new ones. An investment in future-oriented technology, for example, involves risks. Here, however, the way to the goal is to find out as much as possible in advance about the opportunities and risks of the business model in question.
Ideally, the expertise of experienced industry experts should be used.
5. Belief in the idea
The terms “self-doubt” and “mistakes” are not part of the vocabulary of successful visionaries, because belief in one’s own product trumps any doubts about the business model that has been created.
Accordingly, according to “Business Insider”, Bezos describes his attitude towards his innovations as follows: “We are stubborn in the vision, flexible in the details.”
In addition, in order to be successful, one must always assert oneself against one’s doubters and leave no room for reconsideration of the basic vision.
Self-confidence and a certain egotism go hand in hand with success.
Henry Ely / Editor finanzen.net
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