Do you want to learn how to become a billionaire? How does the idea of having a billion dollars to your name sounds? If you were to stumble on a classified blueprint for making a billion dollars, will you act on it?
If your answer is yes, then here’s my personal plan to become a billionaire.
“We are self made or never made.” – Dr Sidney Newton
In the year 2010, I set a personal goal to become a billionaire in my lifetime and I wrote an exclusive article about it titled “How to become a billionaire.” Since writing that article, I have been bombarded with criticism, encouragement and questions. Two questions being asked frequently are:
- “How do you intend to become a billionaire?
- What are your plans?
Before I share my personal blueprint to becoming a billionaire with you, I want to point out some observations. I find it surprising that most people still live with the perception that money is scarce and making a billion dollars is impossible. It is also more surprising that most people hate aiming above average. Well, that’s for them; not me.
I believe in stretching my mind beyond my reality; I believe in going way beyond my comfort zone. More importantly, I am a stickler for thinking big and pursuing big goals. That’s why I have people like Donald Trump, Larry Ellison and Robert Kiyosaki as business mentors. I believe that with the right perception and idea, making a billion dollars is achievable.
I never wrote this article to brag about my exploits, achievements or smartness. No! I simply wrote this article to show you my step by step plan to achieving my goal to become a billionaire in my lifetime. I wrote this article to open your eyes to the possibilities of the goal and the opportunities that abound in life. So if you are ready to learn and take action, then below is my blueprint to hitting my billion dollar goal.
How I Plan to Achieve my Goal to Become a Billionaire
This is the primary key to becoming a billionaire. Now if you are on a similar financial path, I hope you are not living with the illusion that you can achieve such a goal as an employee. The starting point to becoming a billionaire is to first become an entrepreneur.
Before setting the goal to become a billionaire, I had already started some businesses. Some failed while some succeeded. But with this goal on ground, I have to strategically double my start-up and expansion rate.
If you look at the richest people in the world, they all have one thing in common. They became billionaires by building businesses. Bill Gates and Larry Ellison provided easy to use software for businesses and individuals. Larry Page provided an easy to use search engine for free (Google). Mark Zuckerberg created a platform for people to interact and connect with their old time friends (Facebook). More realistically, they are serving millions of people all over the world. This is exactly what I am doing; serving other people through my businesses in exchange for a nominal fee.
While my peers and age mates are out there looking for high paying jobs, I am critically thinking how to solve other people’s problem. I want to simply find a need and fill it. I want to serve more and more people with less effort. This is exactly how I intend to become a billionaire; by solving other people’s problem. It’s as simple as ABC. If you want to become a millionaire or billionaire, then start a business and serve other people.
2. I will invest in other businesses
No matter how smart I am, I can never know it all and I can never take advantage of every opportunity I come across. I am strapped for time; and I have limited manpower to pursue every single opportunity. So what do I do?
I simple put my money into other businesses or startup ideas that gets my nod. I invest in other businesses via the stock market. I also invest in businesses started by friends and other entrepreneurs who approach me for startup capital or partnerships. As at the time of writing this, I am working on investing in Private Placements or Pre-IPO’s.
Now for those who will be interested in building their portfolio income, i must emphasize the fact that i don’t primarily invest for capital gains. Yes! Even though i sometimes trade stocks and take short to medium term profits, i still follow my plan to have a bulk of my portfolio invested in dividend yielding companies. I am a cash flow investor.
3. I will invest massively in real estate
Investing massively in real estate is a yet to be executed plan. As at the time of writing this article, I am learning the ropes of investing in real estate and i hope to fully get involved with it when I hit my target cash flow and acquire enough knowledge. For now, i intend on playing in the real estate sector through partnerships so that I can concentrate on building my businesses and starting new businesses.
Some Harsh Truths about My Goal to Become a Billionaire
a. There’s no guarantee that I will hit the goal
The goal to become a billionaire is definitely not an easy one; yet, it is achievable. The fact I want to point out is that there’s no guarantee that I will hit the goal. The business terrain is unpredictable, so is the investment world. Sh*t happens! Economic downturns can wipe away my profits and investments. I may lose it all tomorrow or I may surpass the goal. But no matter what happens, I am willing to stick to the entrepreneurial process till the end. I am not doing it for the money; I am doing it for something higher than money.
Now for those who might be challenged to take up a similar goal, I want you to note that I am not pursuing this goal as an employee. I am pursuing the goal as an entrepreneur and investor; and even at that, I am not a sole proprietor. However, i must admit that i started out alone, as a lone wolf. But along the line, i found people that i was comfortable working with; and they were way smarter than me. These people are now part of my team.
The point I am trying to emphasize is that I am not a solo player; I am a team player. I have a business team behind me and I have struck strategic alliances with other businesses. Business is a team sport, so also is investing. As my business grows, I will need to keep expanding my business network and alliances; else I will be left behind.
c. It’s a lifetime goal
The third point I want to make with respect to this goal of mine is that it’s not an overnight flight; it is a goal I am willing to stick with throughout my lifetime. Regardless of how many times I fail.
d. I will use other people’s assets to achieve my goal
To achieve my goal to become a billionaire, I have to use other people’s assets to grow mine. When I mean other people’s assets; I am talking about other people’s money, time, effort, intelligence and so on. As an entrepreneur, you must know how to hire and work with people smarter than you.
You must also know how to relate with people richer than you. The primary job of an entrepreneur is to raise capital for the business. To become a billionaire, i must know how to raise capital from family and friends, bankers, Venture Capitalists, Angel investors, Suppliers, employees and customers.
Lastly, my strategy to achieve my billionaire goal is to be prepared at all times. I must be on the watch for changes in economic trends and government policies because such changes come so fast. The bad news is that a lot of people will lose their jobs and be wiped out due to these changes. The good news is that this same change will also create a lot of opportunities; but unfortunately, such opportunities cannot be seen with an untrained eyes.
For example, when the government privatize state-owned companies; a lot of people lose their jobs, while few become rich because of this change. When the government prohibits the importation of a particular product, some people lose their means of livelihood; while others profit immensely from this same situation.
The question now for you is this: On which side will you be when the change comes? Do you want to be on the sides of those that profit from this changes, or you would rather side with those who do nothing but complain, blame the government and engage in industrial strikes?
You see, my country Nigeria has a lot of potentials; and certain changes are coming that will make most people poor and others rich. I want to be prepared when such change comes. I want to exploit such opportunities to the fullest. This is exactly how i intend to become a billionaire.