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How Not To Become A Billionaire

Feb 14, 2008
1. Wait for approval or permission from society.

2. Choose innovation over copying. (Don't reinvent the wheel. Improve upon the wheel. Innovation is not the way to billionaire status. Copying is. Find what works and jump in and do that too. Just do it better. Do it more powerfully. The Wright brothers are a great example. They created the airplane. And they wouldn't give up on their idea and sooner or later they had an airplane. It wasn't an original idea.)

Was it an original idea? No. It was their unwillingness to give up. Persistence, where that meets inspiration, there you have luck.

Whatever you do, start the process and get going. It's easier to go from one success to another than it is to go from failure to success. There's a law in physics about a body in motion tends to stay in motion. This holds true in the area of wealth accumulation as well. It's much easier to alter your course slightly if you're already in motion than it is to begin from a dead standstill to get up and running.

3. Work for a salary. (You're not going to see salary listed in the group of people comprising the Forbes 400 list as a key ingredient to wealth. Think ownership instead. Salary will never get you there. If you catch yourself thinking, 'How could I just earn a little bit more salary?' Well, maybe instead ask yourself, 'How could I go out and start a business while I'm still keeping my salary and turn that into billions?')

4. Adroitly manage your portfolio. (I know all you advisers are going to go, 'Wait a minute.' But according to history, managing your portfolio does not create massive wealth. Even Warren Buffet doesn't make his money through passive investing and even though he doesn't take an active role in the companies he buys, he does set really strict guidelines and then monitors them very, very closely. Simply managing your portfolio and waiting for the world to discover an undervalued stock that you just bought is not the way to making giant wealth.)

5. Think up ideas versus capitalizing on them. Thinking that you're going to create your wealth from an original idea has historically shown not to work very well. A lot of us think, 'We've just got to come up with that really good idea.' There are a million great ideas that have not created billionaires. It's just not the way to do it.

6. Allow your quest and desire for super wealth to prevent you from taking action.

Now that we've discussed what not to do, stay tuned for what to do to install the affluent mindset. Or, try how not to become a billionaire step number seven below.

7. Don't do anything.
About the Author
Kenrick Cleveland teaches techniques to earn the business of affluent clients using persuasion. He runs public and private seminars and offers home study courses and coaching programs in persuasion techniques.
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