- There are 1,645 billionaires in the world (2014, Wikipedia)
- About 2/3 or just under 1,100 of them were self-made.
- There are 442 billionaires in the U.S., I will assume for simplicity they were all self-made (not true).
- There are 7.1 billion people on the planet.
- There are just over 300 Million in the U.S.
Now that means that unless you happen to fall into a rather sizable inheritance, all other things being equal you have a 0.00001549295% chance of becoming a billionaire. If you live in the U.S. your odds are 0.00014733333%, which is actually an order of magnitude better (now we're getting somewhere).
Now, we add your constraint that you want to be a billionaire in 2 years. This changes the math considerably. I'm going to say that 4 years is close enough to two years for our game, which means that there are 5 people on the planet Earth who have done what you want to do (thank you Chris HolmesParker):
- Jay Walker
- Gary Winnick
- Eric Lefkofsky
- Jeff Bezos
- Mark Zuckerberg
I won't bother to do the math for you, but 5 is less than 1100.
That means while not impossible, your chances are better to win the lottery a dozen times in your lifetime.
All that being said, a great fictional character once said, "Don't tell me the odds," so forgot all of that, and let me give you a plan:
Month 1-3: First you need some money. It doesn't have to be a lot, about $5000 will do. In the U.S. you can earn that much working full time, moving in with a very understanding friend, and eating not much more than Ramen for a couple months.
While you are doing that, you should be learning how to count cards and range bets (Card counting) .
You should also take a few hundred bucks and open up an online brokerage account (I'll explain why later).
Month 4: Fly to Vegas. Atlantic City will do in a pinch, but you want somewhere with medium-stakes Blackjack tables.
If you have learned how to count cards / range bets perfectly, you will have an approximately 1% advantage over the house. You should now play your system and hope for the best. You will probably be best off changing casinos frequently to avoid getting your legs broken or yourself black listed.
Assuming that you manage to do all of these things, you should be able to turn your $5000 into, say, $75,000 in about a month.
Note: It is possible that you will lose everything at this point. Every time that you do, return to step one and add three months to the clock. Once again, try not to get your legs broken.
Month 5: While you could stay in the Casino, chances are people are starting to get a bit suspicious of you by now, so it's time to upgrade. Also, as it stands, your losses aren't tax deductible, we need to change that as well.
Over the next 2 months you will open up a trading account with a low-cost, options trading, online brokerage. Either that or you will apply for an options trading account with the brokerage you used in the first step. Your goal is to find one with very low fees. When they ask you about your trading experience (usually required for anyone trading options), you can mention your nearly 6 months of experience in equities.
Also, and this is absolutely critical, make sure that they are willing to provide you with margin, the more the better.
Note: In case you don't know, Margin is a relatively cheap loan that you can take out against your principal (now $75,000) to allow you to juice your returns.
Month 6: My very brief research is showing me that you can probably lever up your $75,000 to $300,000 worth of buying power no problem. If you look hard enough, I bet you can do better than that.
Once you get your margin in order, it's time to make a bet!
Hopefully by now it's either early summer or sept/oct and the market is slumping. If you are that lucky, find an Indexed ETF (Google it) that is 3x leveraged (SPXL or TQQQ are examples for the S&P and NASDAQ respectively). Bet all of your money on slightly OTM (Out of the Money), one month options contracts for one of these indexes.
If you are lucky, the market will go up and you will have made a rather sizable chunk of change for the month.
Spend the next three months repeating your success.
Assuming everything goes according to plan, you double down on all of your bets, and you keep your leverage at the same levels, you should have between $10-50 Million dollars by the end of this period.
Note: It is entirely possible that not only will you lose your money at this point, but because you have essentially taken out $225,000 worth of loans (or substantially more later in the game), you will be in significant debt. If you find yourself in this situation, return to step one and add approximately 5 years to the timer.
Month 9. Now that you are a multi-millionaire, you should probably peel off a chunk of your winnings and buy yourself a house or something. While I know the goal is to become a Billionaire, better safe than sorry, right? Your friend is probably also tired of you living on his couch.
While you could stick with options trading, since you actually know very little about options trading, the longer you stay in the game, the better chance you have of losing spectacularly. Even if you did know what you were doing, your chances aren't all that good. In either case, what's fortune without fame? It's time to make you famous!
You should spend the remainder of the year assembling a team.
Get the absolute smartest people that you rather sizable nest egg can buy you (not too many though), and think long and hard about an idea that can make you money. This idea should:
- Allow you to generate huge amounts of traffic.
- Be in an industry that is currently hot (Internet of Things, Big Data, Bitcoin, Cloud-based something in a pinch)
- Be able to be produced with a relatively small team (< 10 people).
- Be exciting enough to garner major media attention.
- Be able to be developed in 3-6 months.
Month 12: Since you have a small fortune to work with already, you don't really need VC. That being said, everything you do is about leverage and spending your own money at this point is stupid, so you should court some outside capital and get yourself a valuation.
Since you are building something with very smart people, you have very little need for capital, and you are creating something in an industry with a lot of attention, chances are you can get some pretty decent terms. More importantly though, you will get a valuation many multiples higher than you would have otherwise.
Year Two: Now that you haven't gotten this far, you just need to keep pushing. Get your product made and to market. Make sure that people love it, and if they don't, dig into your war chest and figure out what is wrong. When you have a chance to take money at a higher valuation, do it as long as the terms are no worse than your original ones.
Pay your employees well enough that they don't defect, but not so well that they get lazy.
Make sure that the press knows your story. Seriously, at this point you are pretty much a miracle. Even if your product did nothing, you would get a few stories out of that.
Keep an eye on your valuation, make sure that whenever new money comes in the door, you are not losing too much equity and you are levering up your companies worth.
If everything goes according to plan, by the end of year two, your paper worth should be somewhere over a billion dollars and you should still have several million dollars of cash in the bank.
Note: Since you are not playing with too much of your own money, you're relatively safe at this point (mileage could vary substantially). All that being said, you need to be prepared to return to options trading or Blackjack if your business doesn't take off the way you hope it will.
Final thoughts
1. Hire a good lawyer.
2. Hire a good accountant.
3. Hire a good publicist.
4. Keep as much equity as you can.
5. Always put at least $5000 aside so you can start again.
6. And er...always be closing?
Let me know how it works out!
Carlos Torres,
Views
Robert
J. Pera, founder of Ubiquiti Networks and owner of the Memphis
Grizzlies became a Billionaire in 6 years. At 34 he was listed on the
Forbes 10 youngest billionaire's in the world.
He has a B.S. in electrical engineering from UCSD and went to work for Apple. He left Apple and with accumulated $30,000 in savings and credit cards to start his company Ubiquiti networks.
He says ‘success is a matter of identifying opportunities and putting in clear and concise efforts in right direction’.
Self-Made Billionaire Robert Pera: I Quit my Job because I Wanted to have More Success Faster
Some of my personal thoughts about the subject:
- With technology accelerating there has been discussion of start-ups selling for a billion dollars within a month from their conception as soon as the year 2015.
- Many think they would be happy with a million dollars, however, after you buy a house in california, a couple of cars, and a few nice vacations you might find yourself needing to work again in five years. The goal for these times might be penta-millionaire which is 5 million or more. Certainly a billion is a lofty goal but considerably less lofty than say twenty years ago.
- Money doesn't bring happiness, neither does poverty. Simply happy people are happy people whether they have a billion in the bank or not. Take Warren Buffet who lives in the same house he bought in the 50's and still has a tube television in his office. This man simply enjoys his job and can't wait to get to work. The same joy as say some teachers, forest rangers or UPS drivers have.
- Billionaires rarely thought of being billionaires. They just focused their passion in the right direction consistently and exponentially and when they became billionaires stayed in business because that's where their passion is.
Chris HolmesParker,
Views
My
initial thought was that 2 years to billionaire status is crazy. But
apparently, it has been done. I found the following Forbes article which
tracks the people who have made it to a billion the fastest. The record
looks like it was set in 1999 by Jay Walker (the founder of Priceline)
who took ~1 year to get to billionaire status. The remainder of the list
is outlined here (Fastest To A Billion) and a good graphic that summarizes is here:
I would say follow the paths of Jay, Gary, Eric, Jeff, and Mark (the top 5) and you should be on your way (though still very difficult as is obvious). I would recommend you researching how these people did the structuring, timelines, etc. you are asking about. Perhaps do your best to follow a similar route?
Good luck with it.
Todd Francis,
Views
Yes,
it is possible to become a billionaire in 2 years due to the fact that
others have done it. However none of the the two men that did is not on
the Forbes 400 today. Now ask yourself why is that. The Amish has a
saying" A fence that goes up fast comes down fast" so lets think about
that for a minute.
Now I am sure it is fair to say that before one becomes a billionaire they will have to pass through the status of being a multi-millionaire. So it might be wise to set a goal to reach to that first milestone, get some traction and then go towards your billionaire status.
The quickest way to get to your goal is always to find someone that has done it and model their success and get them or someone who is at this level to mentor you.
However there are many different products or services that can make you a millionaire/billionaire, but the process to get there is usually the same. According to the billionaires I have research and studied, the process usually looks like this:
1- Find or develop a product / service that has passionate market
2- Test your product / service to get feedback from your market
3- Market your product / service so people can see the value
4- Scale your product / service so as to maximize sales
5-Develop complimentary or related product / service and start the cycle all over again.
Some people think if you have a good idea from scratch you can become a millionaire. Nothing is further from the truth. You have to have persistence and guts to make it.
Millionaire rarely happens by accident. Only people who are very passionate, meet this target.
Here are a couple strategies to become a millionaire / billionaire
Strategy # 1 unique product / service supply
This is the strategy that people first think of. With a unique product / service supply I mean something which create a need and where you give the perfect solution without all the other companies who offer this solution.
As you consider something new, you're the first in that market. If you then do your marketing right, you can grow very quickly.
Strategy # 2: modeling anything and make it better.
You can draw just steal an idea from another person (not an offense as long as no patent on it), and that idea work out better.
This is for example what Facebook has done. The idea of a social media site was long but because Facebook had a better and more stable system that made people start flocking to it.
Now I am sure it is fair to say that before one becomes a billionaire they will have to pass through the status of being a multi-millionaire. So it might be wise to set a goal to reach to that first milestone, get some traction and then go towards your billionaire status.
The quickest way to get to your goal is always to find someone that has done it and model their success and get them or someone who is at this level to mentor you.
However there are many different products or services that can make you a millionaire/billionaire, but the process to get there is usually the same. According to the billionaires I have research and studied, the process usually looks like this:
1- Find or develop a product / service that has passionate market
2- Test your product / service to get feedback from your market
3- Market your product / service so people can see the value
4- Scale your product / service so as to maximize sales
5-Develop complimentary or related product / service and start the cycle all over again.
Some people think if you have a good idea from scratch you can become a millionaire. Nothing is further from the truth. You have to have persistence and guts to make it.
Millionaire rarely happens by accident. Only people who are very passionate, meet this target.
Here are a couple strategies to become a millionaire / billionaire
Strategy # 1 unique product / service supply
This is the strategy that people first think of. With a unique product / service supply I mean something which create a need and where you give the perfect solution without all the other companies who offer this solution.
As you consider something new, you're the first in that market. If you then do your marketing right, you can grow very quickly.
Strategy # 2: modeling anything and make it better.
You can draw just steal an idea from another person (not an offense as long as no patent on it), and that idea work out better.
This is for example what Facebook has done. The idea of a social media site was long but because Facebook had a better and more stable system that made people start flocking to it.
Strategy # 3: Managing a large capacity
The third option is to find a way to invest assets of another while also picks up a portion of the return.
This should only be a market where you have good understanding of investing, people like you and trust you have money invested by you.
Warren Buffet has been extremely good in here. Its investment strategy is very powerful and there are many people like to use.
As a result, he has his own ability to grow much faster than just using his own money.
Remember achieving great wealth is not about the things you have achieved but it is about the person you have become.
I hope that these tips are helpful on your way to the top and if you would love to get more solid strategies and tips on this topic please go here Strategies On How to Become A Billionaire
Axel Schultze,
Views
1) Don't follow ANY advice given here - unless it is made by a Billionaire.
2) "planning" to become a billionaire is bit awkward - it indicates that you are not interested in anything other than becoming a billionaire and that is the unfulfilled dream of hundreds of millions of people. So screw that one.
3) Think of something extraordinary that you can do for our society - our world. No matter how big it is - actually the bigger the better. Here are some innovations you could do that would be poised to go billionaire.
- Invent an all new car - forget the form, the engine any thing and make it use renewable energy and climb through rough terrain.
- Invent something that replaces electrical batteries but still can drive an engine of sort
- Invent a better way than we have today to remove salt from salt water
- Invest in sugar production, soon Americans will recognize that their obesity is coming primary from corn starch - not from sugar. Since corn starch is used obesity has grown - and it is used only in the US and only the US has that alerting growth of obesity.
- Find an alternative to wifi and allow global internet connection anywhere - absolutely anywhere.
- You will find about a million more ideas - just pick one and make it happen. It is indeed that easy.
At least that's what I did ;)
The most delighting moment is when your wealth hits the 100 Million Mark. Then you know you get there any time!
2) "planning" to become a billionaire is bit awkward - it indicates that you are not interested in anything other than becoming a billionaire and that is the unfulfilled dream of hundreds of millions of people. So screw that one.
3) Think of something extraordinary that you can do for our society - our world. No matter how big it is - actually the bigger the better. Here are some innovations you could do that would be poised to go billionaire.
- Invent an all new car - forget the form, the engine any thing and make it use renewable energy and climb through rough terrain.
- Invent something that replaces electrical batteries but still can drive an engine of sort
- Invent a better way than we have today to remove salt from salt water
- Invest in sugar production, soon Americans will recognize that their obesity is coming primary from corn starch - not from sugar. Since corn starch is used obesity has grown - and it is used only in the US and only the US has that alerting growth of obesity.
- Find an alternative to wifi and allow global internet connection anywhere - absolutely anywhere.
- You will find about a million more ideas - just pick one and make it happen. It is indeed that easy.
At least that's what I did ;)
The most delighting moment is when your wealth hits the 100 Million Mark. Then you know you get there any time!
Ron TF Lum,
Views
You should start with a smaller goal and then scale your goals as you reach them.
The only people who should be trying to be billionaires in 2 years are ambitious multi-millionaires. If you only have assets in the thousands or tens of thousands, it'd be smarter to aim for a networth of $50k, then $100k, then $250k, and so on until you reach terminal velocity in terms of your earning potential or until you find that you have enough money (seriously, what could you possibly want from being a billionaire that you couldn't do by being a millionaire?).
As for your claim of having an instinct to be a billionaire, there is no such thing. You can have entrepreneurial instincts, athletic instincts, and design instincts, all of which can help you generate a lot of money over your lifetime, but there is no such thing as an instinct to be a billionaire.
The only people who should be trying to be billionaires in 2 years are ambitious multi-millionaires. If you only have assets in the thousands or tens of thousands, it'd be smarter to aim for a networth of $50k, then $100k, then $250k, and so on until you reach terminal velocity in terms of your earning potential or until you find that you have enough money (seriously, what could you possibly want from being a billionaire that you couldn't do by being a millionaire?).
As for your claim of having an instinct to be a billionaire, there is no such thing. You can have entrepreneurial instincts, athletic instincts, and design instincts, all of which can help you generate a lot of money over your lifetime, but there is no such thing as an instinct to be a billionaire.
John Greathouse,
Views
Wrong question.
Instead of trying to optimize what you will "make" monetarily, consider what you will "make" in non-monetary terms.
A great example of the type of things you can "make" beyond money is laid out in this slam poetry reading by Taylor Mali:
Taking a queue from Taylor, I wrote a brief article for the Wall Street Journal that describes some of the things my teams have "made" over the years, beyond filthy lucre.
If you are so inclined, you can check it out here: http://blogs.wsj.com/acce
Instead of trying to optimize what you will "make" monetarily, consider what you will "make" in non-monetary terms.
A great example of the type of things you can "make" beyond money is laid out in this slam poetry reading by Taylor Mali:
Taking a queue from Taylor, I wrote a brief article for the Wall Street Journal that describes some of the things my teams have "made" over the years, beyond filthy lucre.
If you are so inclined, you can check it out here: http://blogs.wsj.com/acce
use the smart method of achieving goals.
Creating S.M.A.R.T. Goals
Specific
Measurable
Attainable
Realistic
Timely
Specific: A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must
answer the six “W” questions:
*Who: Who is involved?
*What: What do I want to accomplish?
*Where: Identify a location.
*When: Establish a time frame.
*Which: Identify requirements and constraints.
*Why: Specific reasons, purpose or benefits of accomplishing the goal.
EXAMPLE: A general goal would be, “Get in shape.” But a specific goal would say, “Join a health club and workout 3 days a week.”
Measurable - Establish concrete criteria for measuring progress toward the attainment of each goal you set.
When you measure your progress, you stay on track, reach your target dates, and experience the exhilaration of achievement that spurs you on to continued effort required to reach your goal.
To determine if your goal is measurable, ask questions such as……
How much? How many?
How will I know when it is accomplished?
Attainable – When you identify goals that are most important to you, you begin to figure out ways you can make them come true. You develop the attitudes, abilities, skills, and financial capacity to reach them. You begin seeing previously overlooked opportunities to bring yourself closer to the achievement of your goals.
You can attain most any goal you set when you plan your steps wisely and establish a time frame that allows you to carry out those steps. Goals that may have seemed far away and out of reach eventually move closer and become attainable, not because your goals shrink, but because you grow and expand to match them. When you list your goals you build your self-image. You see yourself as worthy of these goals, and develop the traits and personality that allow you to possess them.
Realistic- To be realistic, a goal must represent an objective toward which you are both willing and able to work. A goal can be both high and realistic; you are the only one who can decide just how high your goal should be. But be sure that every goal represents substantial progress.
A high goal is frequently easier to reach than a low one because a low goal exerts low motivational force. Some of the hardest jobs you ever accomplished actually seem easy simply because they were a labor of love.
Timely – A goal should be grounded within a time frame. With no time frame tied to it there’s no sense of urgency. If you want to lose 10 lbs, when do you want to lose it by? “Someday” won’t work. But if you anchor it within a timeframe, “by May 1st”, then you’ve set your unconscious mind into motion to begin working on the goal.
Your goal is probably realistic if you truly believe that it can be accomplished. Additional ways to know if your goal is realistic is to determine if you have accomplished anything similar in the past or ask yourself what conditions would have to exist to accomplish this goal.
T can also stand for Tangible – A goal is tangible when you can experience it with one of the senses, that is, taste, touch, smell, sight or hearing.
When your goal is tangible you have a better chance of making it specific and measurable and thus attainable.
Look for Smartprogress.do, there you may try smart method in practice.
Creating S.M.A.R.T. Goals
Measurable
Attainable
Realistic
Timely
Specific: A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must
answer the six “W” questions:
*Who: Who is involved?
*What: What do I want to accomplish?
*Where: Identify a location.
*When: Establish a time frame.
*Which: Identify requirements and constraints.
*Why: Specific reasons, purpose or benefits of accomplishing the goal.
EXAMPLE: A general goal would be, “Get in shape.” But a specific goal would say, “Join a health club and workout 3 days a week.”
Measurable - Establish concrete criteria for measuring progress toward the attainment of each goal you set.
When you measure your progress, you stay on track, reach your target dates, and experience the exhilaration of achievement that spurs you on to continued effort required to reach your goal.
To determine if your goal is measurable, ask questions such as……
How much? How many?
How will I know when it is accomplished?
Attainable – When you identify goals that are most important to you, you begin to figure out ways you can make them come true. You develop the attitudes, abilities, skills, and financial capacity to reach them. You begin seeing previously overlooked opportunities to bring yourself closer to the achievement of your goals.
You can attain most any goal you set when you plan your steps wisely and establish a time frame that allows you to carry out those steps. Goals that may have seemed far away and out of reach eventually move closer and become attainable, not because your goals shrink, but because you grow and expand to match them. When you list your goals you build your self-image. You see yourself as worthy of these goals, and develop the traits and personality that allow you to possess them.
Realistic- To be realistic, a goal must represent an objective toward which you are both willing and able to work. A goal can be both high and realistic; you are the only one who can decide just how high your goal should be. But be sure that every goal represents substantial progress.
A high goal is frequently easier to reach than a low one because a low goal exerts low motivational force. Some of the hardest jobs you ever accomplished actually seem easy simply because they were a labor of love.
Timely – A goal should be grounded within a time frame. With no time frame tied to it there’s no sense of urgency. If you want to lose 10 lbs, when do you want to lose it by? “Someday” won’t work. But if you anchor it within a timeframe, “by May 1st”, then you’ve set your unconscious mind into motion to begin working on the goal.
Your goal is probably realistic if you truly believe that it can be accomplished. Additional ways to know if your goal is realistic is to determine if you have accomplished anything similar in the past or ask yourself what conditions would have to exist to accomplish this goal.
T can also stand for Tangible – A goal is tangible when you can experience it with one of the senses, that is, taste, touch, smell, sight or hearing.
When your goal is tangible you have a better chance of making it specific and measurable and thus attainable.
Look for Smartprogress.do, there you may try smart method in practice.
Kim Gysen,
Views
This is answer is my personal philosophy.
Because yes, I have the same ambition.
Since you are also a web developer, this is what my answer focuses on.
The form I use in my answer is "I" (ego), because this is what I will do, rather what I tell anyone what he/she should do.
Neither do I claim this to be truth: it is my truth, one that feels natural to me.
These are not proven facts, just my two cents on how I want to achieve my goals, and the things I experienced along the way.
Here are my thoughts:
1. I need more than just a good idea
I have to be able to say "Everyone would do this if it only existed, because it is just too damn easy. I wonder why nobody ever thought about this.".
It took me an entire year to develop the concept of the application that I want to market.
I believe that it is okay to create something that is superficially covered by competitors, but there still needs to be an answer to the question: "Why shouldn't I use the other application for that?" -> "Because you can't".
It is not enough to have an application that just gives a single benefit over the competition, leaving users with a choice. The concept has to be thought about profoundly, in a way that it blows away the direct competition in that area.
Building a concept doesn't happen over night, only the trigger does. It requires a lot of deep thought and re-assessment. It requires mental sacrifice, but I actually consider it more like an opportunity than a sacrifice.
I don't want to create a "handy" tool: I want to create something that convinces people that they need it in their daily lives.
A set of benefits that no competitor offers. A handy tool can be forgotten about, whereas a need emotionally 'stings'. I litterally say 'a set of benefits', because a single benefit risks my application to be copied within a minimum of time.
My application requires a certain level of complexity for this reason, and for the reason that I don't want it to be thought of as a 'gadget', but rather a useful and integrated system.
2. I need to commercialise my product
In terms of business plan, I have to think out of the box.
One cannot just say: "I will have a lot of users, so I will make a billion".
Although I don't say that it is not possible, I don't believe that one can maximise its profits when thinking this way. I also don't want to depend on the idea that 'a larger company may buy my product' one day' although nothing is impossible.
I participated in a business plan competition where I got it to the finals out of 92 participants, but unfortunately screwed up the presentation.
I chose to create a "bilateral" application that covers users and business owners.
This is not purely accidental, because how I will make money from your application truly matters. I found that there are immense business opportunities when combining both the business and user markets.
I need at least 5 different ways to monetise my project in order to spread the risk.
While growing, for the period after that, new business opportunities have to be foreseen and actively driven within the initial business plan.
As a company, I want to stay as small and organised as possible, while creating an internal information platform that is kept continuously up to date, which allows for faster scaling.
3. I don't compare myself to others who made it
This is my golden rule.
The reason why this is of main importance is because every man is different, and every situation is different.
Trying to analyse 'what these people did exactly' will only negatively influence me. I quickly found out that I have a distinct set of skills with a lot of holes, but I decided to take the long road taking the training.
What billionaires did years ago to become rich:
4. I don't listen to others and I don't talk too much about what I'm doing (anymore)
I believe that I have to be stubborn: as stubborn as a rock.
Whatever other people say, I continue walking my own path that has grown from a certain conviction (one I am not afraid of questioning for validity regularly). It is not that I refuse to think about the opposite or listen to useful advice, but nobody can predict the future: I cannot, but others cannot either. Since their words are likely a consequence of prejudice without much thought, I cannot listen to it for too long.
Talking about my project against friends resulted in them becoming fed up with it, resulting in trying to break it down. That happened in the beginning, so I took a step back.
I noticed that modesty brings me the furthest, as friends are more likely to support, rather than to break down the spirit. Sometimes they even come up with good ideas that support my cause.
For myself, I believe that this is extremely important.
5. I do whetever is necessary to achieve my goal
When I started with thep project, I hired students for an internship in a virtual company that I set up.
I looked for a web development / app company to place them during their internship: one of them is now still working in this company as a partner (Android).
In the end, I couldn't pay the students because I'm poor, so when the internship ended, my project temporariyl stranded.
I have to mention that 1 of the students actually scored 18/20 for a unanimous jury of people, owning or working for some sort of technical company. This was the max score for that year, and it gave me a great feeling as well.
Although I never had any prior web development experience, I rented a VPS and started learning Javascript, PHP, OOP, architectures and styles , design patterns, frameworks and a few useful libraries.
I read books about it continuously, programmed the same things at home over and over again. I convinced my boss at the insurance company where I work that we needed web dev platform and started fulltime web development. My boss later hired another project manager and independent PHP developer to support the project. I did this for a year while continuing to study hard in my spare time.
I tried to find (technically skilled) partners before, but without either money, skillset, or people I know in the branche, it was just impossible to convince partners to work for me. Either they don't trust me, they have their own projects, or they are too tired when they come home to move considerable efforts. But as I said, this what I experienced, and other people may be more creative to solve matters otherwise.
So my plan is to document everything into detail:
- User and owner benefits;
- User and owner feature lists;
- Business requirements;
- Functional requirements;
- Wireframes and user stories;
- Technical schemes and descriptions defining architectures and design patterns;
- Test scenarios on three levels;
- Also rework and update the business plan into detail;
I decided to do all these things myself, store the documents on Google drive, and later on upload them to a structured and organised web platform where possible partners / investors can consult them.
THEN, I feel like I have created new opportunity, because I feel that they don't come free.
After a year of web dev at my current job, I found that my learning curve is going too slow now because 80 percent of my time I have to program things that don't support my personal project at all. Although I'm not saying that it is not useful at all, it does not serve my personal purpose any longer.
This is why I decided to quit my job at this point and take half a year off to purely study, make schemes for my project, rework my business plan, etc etc.
As from August I will be at home and I personally don't care about what the people think about it. I've saved some money that I will now spend again, but I consider it an investment. I am not afraid to take risks, but I also calculate the risks that I'm willing to take. The time off is not for pleasure, it is for work, and I keep a financial buffer.
If I don't make it in time, I will start working again and do whatever extra effort is necessary to survive and make this thing happen.
Because yes, I have the same ambition.
Since you are also a web developer, this is what my answer focuses on.
The form I use in my answer is "I" (ego), because this is what I will do, rather what I tell anyone what he/she should do.
Neither do I claim this to be truth: it is my truth, one that feels natural to me.
These are not proven facts, just my two cents on how I want to achieve my goals, and the things I experienced along the way.
Here are my thoughts:
1. I need more than just a good idea
I have to be able to say "Everyone would do this if it only existed, because it is just too damn easy. I wonder why nobody ever thought about this.".
It took me an entire year to develop the concept of the application that I want to market.
- I brainstormed about it with a multitude of people;
- At times, thought about it day and night;
- Wrote down entire texts and procedures about it. Re-read and rewrote them multiple times;
- Eliminated entire blocks and built new ones after continuous assessment;
- Created wireframes of the same interfaces many times. Up to a point where nothing from the original wireframe remains;
I believe that it is okay to create something that is superficially covered by competitors, but there still needs to be an answer to the question: "Why shouldn't I use the other application for that?" -> "Because you can't".
It is not enough to have an application that just gives a single benefit over the competition, leaving users with a choice. The concept has to be thought about profoundly, in a way that it blows away the direct competition in that area.
Building a concept doesn't happen over night, only the trigger does. It requires a lot of deep thought and re-assessment. It requires mental sacrifice, but I actually consider it more like an opportunity than a sacrifice.
I don't want to create a "handy" tool: I want to create something that convinces people that they need it in their daily lives.
A set of benefits that no competitor offers. A handy tool can be forgotten about, whereas a need emotionally 'stings'. I litterally say 'a set of benefits', because a single benefit risks my application to be copied within a minimum of time.
My application requires a certain level of complexity for this reason, and for the reason that I don't want it to be thought of as a 'gadget', but rather a useful and integrated system.
2. I need to commercialise my product
In terms of business plan, I have to think out of the box.
One cannot just say: "I will have a lot of users, so I will make a billion".
Although I don't say that it is not possible, I don't believe that one can maximise its profits when thinking this way. I also don't want to depend on the idea that 'a larger company may buy my product' one day' although nothing is impossible.
I participated in a business plan competition where I got it to the finals out of 92 participants, but unfortunately screwed up the presentation.
I chose to create a "bilateral" application that covers users and business owners.
This is not purely accidental, because how I will make money from your application truly matters. I found that there are immense business opportunities when combining both the business and user markets.
I need at least 5 different ways to monetise my project in order to spread the risk.
While growing, for the period after that, new business opportunities have to be foreseen and actively driven within the initial business plan.
As a company, I want to stay as small and organised as possible, while creating an internal information platform that is kept continuously up to date, which allows for faster scaling.
3. I don't compare myself to others who made it
This is my golden rule.
The reason why this is of main importance is because every man is different, and every situation is different.
Trying to analyse 'what these people did exactly' will only negatively influence me. I quickly found out that I have a distinct set of skills with a lot of holes, but I decided to take the long road taking the training.
What billionaires did years ago to become rich:
- Will likely not work for me because I am not the same person: I do not have the same set of skills and I do not have the same history as a man;
- Might not work anymore today because technical evolutions and markets have changed.
4. I don't listen to others and I don't talk too much about what I'm doing (anymore)
I believe that I have to be stubborn: as stubborn as a rock.
Whatever other people say, I continue walking my own path that has grown from a certain conviction (one I am not afraid of questioning for validity regularly). It is not that I refuse to think about the opposite or listen to useful advice, but nobody can predict the future: I cannot, but others cannot either. Since their words are likely a consequence of prejudice without much thought, I cannot listen to it for too long.
Talking about my project against friends resulted in them becoming fed up with it, resulting in trying to break it down. That happened in the beginning, so I took a step back.
I noticed that modesty brings me the furthest, as friends are more likely to support, rather than to break down the spirit. Sometimes they even come up with good ideas that support my cause.
For myself, I believe that this is extremely important.
5. I do whetever is necessary to achieve my goal
When I started with thep project, I hired students for an internship in a virtual company that I set up.
I looked for a web development / app company to place them during their internship: one of them is now still working in this company as a partner (Android).
In the end, I couldn't pay the students because I'm poor, so when the internship ended, my project temporariyl stranded.
I have to mention that 1 of the students actually scored 18/20 for a unanimous jury of people, owning or working for some sort of technical company. This was the max score for that year, and it gave me a great feeling as well.
Although I never had any prior web development experience, I rented a VPS and started learning Javascript, PHP, OOP, architectures and styles , design patterns, frameworks and a few useful libraries.
I read books about it continuously, programmed the same things at home over and over again. I convinced my boss at the insurance company where I work that we needed web dev platform and started fulltime web development. My boss later hired another project manager and independent PHP developer to support the project. I did this for a year while continuing to study hard in my spare time.
I tried to find (technically skilled) partners before, but without either money, skillset, or people I know in the branche, it was just impossible to convince partners to work for me. Either they don't trust me, they have their own projects, or they are too tired when they come home to move considerable efforts. But as I said, this what I experienced, and other people may be more creative to solve matters otherwise.
So my plan is to document everything into detail:
- User and owner benefits;
- User and owner feature lists;
- Business requirements;
- Functional requirements;
- Wireframes and user stories;
- Technical schemes and descriptions defining architectures and design patterns;
- Test scenarios on three levels;
- Also rework and update the business plan into detail;
I decided to do all these things myself, store the documents on Google drive, and later on upload them to a structured and organised web platform where possible partners / investors can consult them.
THEN, I feel like I have created new opportunity, because I feel that they don't come free.
After a year of web dev at my current job, I found that my learning curve is going too slow now because 80 percent of my time I have to program things that don't support my personal project at all. Although I'm not saying that it is not useful at all, it does not serve my personal purpose any longer.
This is why I decided to quit my job at this point and take half a year off to purely study, make schemes for my project, rework my business plan, etc etc.
As from August I will be at home and I personally don't care about what the people think about it. I've saved some money that I will now spend again, but I consider it an investment. I am not afraid to take risks, but I also calculate the risks that I'm willing to take. The time off is not for pleasure, it is for work, and I keep a financial buffer.
If I don't make it in time, I will start working again and do whatever extra effort is necessary to survive and make this thing happen.
Ender Bozkurt,
Views
I am not a billionaire yet, but I think I know the answer.
1) Set your goal to 1 billion but couple it with tangible goals. Human mind can not visualize what and how 1 billion USD looks like (does it fit in a luggage? Is it all in 100 dollar bills? etc.) It is hard to visualize. So, you cannot "feel" how having a billion USD would make you feel unless your mind visualizes it. But if you depict it in your mind as tangible belongings (a private jet, a megayacht, a malibu mansion, etc.), your mind will match with your goal and become in line with it. In other words, your financial goal becomes solid in your mind.
2) Jot down your goal, the things that you will own with that money, and how you feel as a self-made billionaire. I cannot stress enough the importance of jotting these down.
3) You plan your energy because you will need every drop of it. Use it efficiently, wisely and with purpose always.
4) Have a laser focus. Make sure every step you take is absolutely related to this financial goal.
5) Don't waste time. Be direct. Don't beat the bushes.
6) Be an outstanding networker, never eat alone.
7) Get yourself an advisory board.
8) Always ask. You should be a master of questions.
9) Never hesitate.
10) Always reciprocate and check your metrics and KPIs like crazy.
11) Always be in touch with customers.
12) Manage yourself. When you master it, you will manage your whole world.
13) Enjoy moments. Don't work overload non-stop.
14) Be in control of your indulgence. Always check the balance. When you make your billion, you can be like Dan Bizerian, anyway :)
15) Make a billionaire or at least millionaire friend or mentor. (See item 4).
16) Pray a lot.
17) Be physically fit.
18) Wake up early, start your day early.
1) Set your goal to 1 billion but couple it with tangible goals. Human mind can not visualize what and how 1 billion USD looks like (does it fit in a luggage? Is it all in 100 dollar bills? etc.) It is hard to visualize. So, you cannot "feel" how having a billion USD would make you feel unless your mind visualizes it. But if you depict it in your mind as tangible belongings (a private jet, a megayacht, a malibu mansion, etc.), your mind will match with your goal and become in line with it. In other words, your financial goal becomes solid in your mind.
2) Jot down your goal, the things that you will own with that money, and how you feel as a self-made billionaire. I cannot stress enough the importance of jotting these down.
3) You plan your energy because you will need every drop of it. Use it efficiently, wisely and with purpose always.
4) Have a laser focus. Make sure every step you take is absolutely related to this financial goal.
5) Don't waste time. Be direct. Don't beat the bushes.
6) Be an outstanding networker, never eat alone.
7) Get yourself an advisory board.
8) Always ask. You should be a master of questions.
9) Never hesitate.
10) Always reciprocate and check your metrics and KPIs like crazy.
11) Always be in touch with customers.
12) Manage yourself. When you master it, you will manage your whole world.
13) Enjoy moments. Don't work overload non-stop.
14) Be in control of your indulgence. Always check the balance. When you make your billion, you can be like Dan Bizerian, anyway :)
15) Make a billionaire or at least millionaire friend or mentor. (See item 4).
16) Pray a lot.
17) Be physically fit.
18) Wake up early, start your day early.
Adaeze Ekwueme,
Views
First of all you are definitely on the right track for a number of reasons
1. You have set a measurable goal
2. You are dreaming big
3. Majority of people think you're going to fail and think it's impossible according to the 514 upvotes so far.
Not everybody has a billionaire mindset and that is why the answer which says you have a 0% chance has the highest number of upvotes. Congratulations, like every other potential billionaire before you, you have your very own impressive team of naysayers who think you're crazy.
Everyone thought Mark Zuckerberg was crazy and didn't understand the need for facebook when there was friendster, myspace and a slew of others but he became a billionaire at 23. Richard Branson didn't go to university and according to people's expectations should not be a billionaire. I have heard from VCs who said they've turned down the likes of twitter, airbnb, pinterest, eventbrite and more. So trust me not everyone is going to get you.
Positive thinking and having the right attitude are a lot more important than people think. Sara Blakely, the creator of Spanx and the youngest female self made billionaire used to listen to Wayne Dyer cassettes every day.
Try reading Joe Vitale's Attract Money Now which should give you the right frame of mind to achieve billionaire status in 2 years. You can get a free download at Attract Money Now by Dr. Joe Vitale
Good luck and remember 3 things - Outlasting Naysayers, Laser like focus and Positive thinking.
1. You have set a measurable goal
2. You are dreaming big
3. Majority of people think you're going to fail and think it's impossible according to the 514 upvotes so far.
Not everybody has a billionaire mindset and that is why the answer which says you have a 0% chance has the highest number of upvotes. Congratulations, like every other potential billionaire before you, you have your very own impressive team of naysayers who think you're crazy.
Everyone thought Mark Zuckerberg was crazy and didn't understand the need for facebook when there was friendster, myspace and a slew of others but he became a billionaire at 23. Richard Branson didn't go to university and according to people's expectations should not be a billionaire. I have heard from VCs who said they've turned down the likes of twitter, airbnb, pinterest, eventbrite and more. So trust me not everyone is going to get you.
Positive thinking and having the right attitude are a lot more important than people think. Sara Blakely, the creator of Spanx and the youngest female self made billionaire used to listen to Wayne Dyer cassettes every day.
Try reading Joe Vitale's Attract Money Now which should give you the right frame of mind to achieve billionaire status in 2 years. You can get a free download at Attract Money Now by Dr. Joe Vitale
Good luck and remember 3 things - Outlasting Naysayers, Laser like focus and Positive thinking.
Carl Stieger,
Views
Short
of already having developed a groundbreaking piece of technology that
forms the basis of a multi-billion dollar company which you have the
major controlling interest in, you're out of luck. If you're just
starting now, you'll need several years to develop something that is
groundbreaking enough, and has the invested resources and customer base
that would make such a valuation legitimate. If you don't have this,
and aren't an heir to someone else's fortune, you're out of the running
for billionaire status.
But seriously, what do you want to do with a billion plus dollars anyway? Most of it, if you had it, would be tied up in businesses and investments anyway so you wouldn't really get to use most of it for your own personal gain. As far as spending cash goes, what would you need with more than a million or so, or even half that? At some point you pretty much have everything you want and start buying useless things like luxury yachts and additional homes that you don't actually spend time in. Better to just give it all away like these folks are planning to do http://givingpledge.org/
But seriously, what do you want to do with a billion plus dollars anyway? Most of it, if you had it, would be tied up in businesses and investments anyway so you wouldn't really get to use most of it for your own personal gain. As far as spending cash goes, what would you need with more than a million or so, or even half that? At some point you pretty much have everything you want and start buying useless things like luxury yachts and additional homes that you don't actually spend time in. Better to just give it all away like these folks are planning to do http://givingpledge.org/
Jason McFarlane,
Views
To become a Billionaire,
Short answer: Use honest methods to create billions of dollars worth of positive value in the market followed by ways to cash that out, within 24 months or less. Negative
value like selling drugs, robbing banks & bribing politicians will
NOT do as it will inevitably leave you and/or the system in some type of
moral, social or financial debt.
Complex version: It's
possible to mint a billion US dollars in a year or two if one figures
out how to leverage available talents, abilities and assets to create
solid market value in the desired amounts or greater. Avoid get rich
quick schemes like the plague. Also, work hard but delegate lesser
responsibilities as you climb the ladder to properly leverage your time!
Lizzy Allen,
Views
You
have a goal that could be achieved, but probably won't because it is an
arbitrary goal. Arbitrary goals don't keep you fighting to succeed when
you're having an off day. In my hospital bed recovering from an
accident for two months, I had employees bringing work for me to do in
bed. I had them do this because I had a goal that wasn't make a lot of
money. It was make sure they can pay their rent this month. Them, not
me. If I had been an employee, I wouldn't have worked so hard in the
hospital. If I had been self-employed with no employees, I wound't have
worked so hard. It was others dependency upon me that kept me going
despite my weakness and exhaustion.
You are much more likely to succeed if it is a personal deeply felt goal. Switch "be a billionaire" to something along the lines of "solve the energy crisis", "make it easy for anyone to [fill in the blank] for free", "make hearts from stem cells so that we don't have to wait for someone to die to get a heart transplants." If you like developing web sites, choose one that solves a problem everyone has, not just your social group. Choose one that Chinese and Indians and Westerners can all use. Choose one that ethnic groups, atheists, and religious people will all need. Choose a goal so moving you have no option other than to see it through. Choose a goal so important that if your mum is on her deathbed you take your work into the hospital with you and do it by her bedside rather than leave either of them by the by. In the process, you will undoubtedly become a wealthy man, perhaps even a billionaire.
You are much more likely to succeed if it is a personal deeply felt goal. Switch "be a billionaire" to something along the lines of "solve the energy crisis", "make it easy for anyone to [fill in the blank] for free", "make hearts from stem cells so that we don't have to wait for someone to die to get a heart transplants." If you like developing web sites, choose one that solves a problem everyone has, not just your social group. Choose one that Chinese and Indians and Westerners can all use. Choose one that ethnic groups, atheists, and religious people will all need. Choose a goal so moving you have no option other than to see it through. Choose a goal so important that if your mum is on her deathbed you take your work into the hospital with you and do it by her bedside rather than leave either of them by the by. In the process, you will undoubtedly become a wealthy man, perhaps even a billionaire.
By cons, getting rich is a good goal if you try to reach for good reason.
How to Get Rich: 3 Rules to Follow
If you are looking to make more money and get rich, he'll have to absolutely respect the 3 rules that follow:
- Always spend less than you earn. You earn 1000 euros per month or 100 000 per month, if you do not respect this rule, you will never be rich. There are people who earn a fortune each month, but spending more than they earn. Result: they are always in financial trouble.
- Never go into liability for something you do not need. Whether you borrow to buy a TV or to the new model of your favorite car brand reflected well the usefulness of this investment. You have to do you that debt when necessary or when you are almost certain to have a good return on investment.Going into debt is very risky. Many people went into debt thinking then earn more money, but in the end were unable to repay their debts and meet every day with financial problems because of it.
- Save early in life, because it is by investing small amounts regularly you find yourself with a lot of money then. The money invested accumulate interests that may mean a lot if it is well invested and for a longtime.
Jose Gonsalo,
Views
Come up with innovative idea
Form a team
Start working on the idea
Implement the idea
If you have enough money to support (advertisement, wage) the firm for few years, then it's okay. Better, I would like to suggest you to get in touch with a millionaire or billionaire, may be he/she could invest the amount you want in your firm.
Since it's a social engaging platform chances are many to be a hit. But, remember that there are tons of competitors for you. So your idea must be very innovative which should drag the attentions of millions to your new world.
If you have a cool idea, doesn't matter the time. Because, the current world is so fast.
All the best.
Form a team
Start working on the idea
Implement the idea
If you have enough money to support (advertisement, wage) the firm for few years, then it's okay. Better, I would like to suggest you to get in touch with a millionaire or billionaire, may be he/she could invest the amount you want in your firm.
Since it's a social engaging platform chances are many to be a hit. But, remember that there are tons of competitors for you. So your idea must be very innovative which should drag the attentions of millions to your new world.
If you have a cool idea, doesn't matter the time. Because, the current world is so fast.
All the best.
Adam Sterling
Views
An entertaining and instructive way to prepare for your fate is to read,
How to be a Billionaire: Proven Strategies from the Titans of Wealth by Martin S. Fridson CFA.
It's a surprising look at some "Titans of Wealth," who have achieved this increasingly popular status. Fridson is a lucid and entertaining writer, and a credible researcher. He unveils some of the idiosyncratic habits, strategies, unethical pilferings, moral touchstones, social weirdnesses, religious convictions -- and more -- of a host of hyper-sucessful men. He draws some interesting parallels between them, and points out some glaring differences.
It's a fun and insightful read, with some applicable career guidance buried in the tales.
Fridson, himself, has had an interesting and successful career. His other books are equally useful.
Necessary disclosure: I know the author socially, so add that grain of salt if you like.
How to be a Billionaire: Proven Strategies from the Titans of Wealth by Martin S. Fridson CFA.
It's a surprising look at some "Titans of Wealth," who have achieved this increasingly popular status. Fridson is a lucid and entertaining writer, and a credible researcher. He unveils some of the idiosyncratic habits, strategies, unethical pilferings, moral touchstones, social weirdnesses, religious convictions -- and more -- of a host of hyper-sucessful men. He draws some interesting parallels between them, and points out some glaring differences.
It's a fun and insightful read, with some applicable career guidance buried in the tales.
Fridson, himself, has had an interesting and successful career. His other books are equally useful.
Necessary disclosure: I know the author socially, so add that grain of salt if you like.
Rodolfo Cabrera,
Views
The BAD news, there is no MAP to get there. Sane people look for maps.
The GOOD news, there is a COMPASS to get there. Insane people follow their compass.
Reason is a map, logical, analytical, planification.
Intuition is the compass, illogical, synthesis, improvisation.
Colloquially speaking, do not follow your reason but your Gut to reach your dreams.
Dreams are only achieved by "crazy" people.
Let any one who is sane (not crazy) that has become a billionaire be the first to throw a stone.
The is not one sane human being that has achieved his/her dreams.
Dreams are achieved by insane people who are willing to leave the comfortable.
It is crazy to quit Harvard in the second year to start a small business in your garage.
Let us recuperate our insanity!!
The GOOD news, there is a COMPASS to get there. Insane people follow their compass.
Reason is a map, logical, analytical, planification.
Intuition is the compass, illogical, synthesis, improvisation.
Colloquially speaking, do not follow your reason but your Gut to reach your dreams.
Dreams are only achieved by "crazy" people.
Let any one who is sane (not crazy) that has become a billionaire be the first to throw a stone.
The is not one sane human being that has achieved his/her dreams.
Dreams are achieved by insane people who are willing to leave the comfortable.
It is crazy to quit Harvard in the second year to start a small business in your garage.
Let us recuperate our insanity!!
Erik Berry,
Views
According to this article (How to become a billionaire fast (written by a Young millionaire)), to become a billionaire you have to:
1. Stop thinking peanuts
2. Tease yourself to the extremes
3. Change your friends
4. Get exposed to a daily dose of temptation
5. Avoid time consuming jobs
1. Stop thinking peanuts
2. Tease yourself to the extremes
3. Change your friends
4. Get exposed to a daily dose of temptation
5. Avoid time consuming jobs
Drew Eckhardt,
Views
You have several options:
- Make a SaaS business tomorrow which grows to a $50M annual revenue run rate within two years and sell it. Going from $0 to $50M that quickly should justify a 40X revenue valuation which is $2B taxed as long term capital gains.
- Make a new way to get advertising in front of eyeballs. Become the dominant player in that space with millions of users and ludicrous exponential growth. Instagram was a $1B acquisition after 2 years. Snapchat allegedly had a $3B offer after 1 year.
- Come up with the perfect March Madness bracket and take the $500M cash option. Gamble what's left after taxes until you net $1B. (Only an option after 2014 if Quicken Loans repeats the promotion).
Aditya Bhushan Dwivedi
Views
Don't Just Plan, Execute.
Now you've read that. Get off Quora and start working.
Now you've read that. Get off Quora and start working.
Dan Birchall,
Views
Vinoth Kumar's
idea is a little over my head, but I had a somewhat similar one,
involving crowdsourcing very small amounts across a massive scale.
I will assume that like me, you do not have much money, nor do you know a lot of people who have much money.
So in the first week, the goal is to find 100 people who are willing to give you one penny ($0.01) a week for the next two years.
In the second week and each subsequent week to the 104th week, the goal is (ideally with the help of those people) to grow the total number of people who are willing to give you one penny ($0.01) a week by 21%.
So in the 2nd week, you need 121 people to each give you a penny. In the third week, 146 people. In the fourth week, 177 people.
The first 100 people you start with will each give you $1.04 over the course of the two years, while the 106,634,397 people who join in for only the final week will each give you only one penny ($0.01).
At the end of the two years, you will have accumulated $1,122,294,796.52.
I will assume that like me, you do not have much money, nor do you know a lot of people who have much money.
So in the first week, the goal is to find 100 people who are willing to give you one penny ($0.01) a week for the next two years.
In the second week and each subsequent week to the 104th week, the goal is (ideally with the help of those people) to grow the total number of people who are willing to give you one penny ($0.01) a week by 21%.
So in the 2nd week, you need 121 people to each give you a penny. In the third week, 146 people. In the fourth week, 177 people.
The first 100 people you start with will each give you $1.04 over the course of the two years, while the 106,634,397 people who join in for only the final week will each give you only one penny ($0.01).
At the end of the two years, you will have accumulated $1,122,294,796.52.
William Robson,
Views
It's so simple I am amazed more people don't make it. Here is my 5 step plan to being a billionaire in < 2 years.
1) Hang out with a talented group of developers like yourself and bounce ideas off of each other until you get the AhA moment.
2) Rent a small inexpensive studio where you can eat sleep and work round the clock.
3) When Amazon, Microsoft, and IBM all tell you the idea will never work, you'll know you are on the right track.
4) Spend whatever you have left to buy advertising in Wired magazine to get credibility.
5) Organize a launch party in Seattle and invite all the local billionaires, meet a nice one and have a spring wedding.
Your welcome.
1) Hang out with a talented group of developers like yourself and bounce ideas off of each other until you get the AhA moment.
2) Rent a small inexpensive studio where you can eat sleep and work round the clock.
3) When Amazon, Microsoft, and IBM all tell you the idea will never work, you'll know you are on the right track.
4) Spend whatever you have left to buy advertising in Wired magazine to get credibility.
5) Organize a launch party in Seattle and invite all the local billionaires, meet a nice one and have a spring wedding.
Your welcome.
Pascal-Emmanuel Gobry,
Views
First off, it's impossible to be a billionaire in 2 years starting with nothing, except through inheritance.
Second of all, if you do want to amass as much cash as possible in as short a period of time, your best bet is to become a hedge fund manager. Get a low management fee / high carry fee structure and then either be really lucky (Ackman, Paulson) or really right when everybody else is really wrong (Soros, Paulson, Chanos...). This is the way to make the most money the fastest with as little money put in because you are using other people's money.
As far as I know there are only two tech companies that took roughly two years from founding to exit to a billion-dollar-plus exit, and those are Skype and YouTube, but in those cases the founders took in much less than a billion dollars because a) there were several founders and b) they received venture capital. (The exception that proves the rule is probably Broadcast dot com...)
For every tech billionaire, it took much more than two years.
Second of all, if you do want to amass as much cash as possible in as short a period of time, your best bet is to become a hedge fund manager. Get a low management fee / high carry fee structure and then either be really lucky (Ackman, Paulson) or really right when everybody else is really wrong (Soros, Paulson, Chanos...). This is the way to make the most money the fastest with as little money put in because you are using other people's money.
As far as I know there are only two tech companies that took roughly two years from founding to exit to a billion-dollar-plus exit, and those are Skype and YouTube, but in those cases the founders took in much less than a billion dollars because a) there were several founders and b) they received venture capital. (The exception that proves the rule is probably Broadcast dot com...)
For every tech billionaire, it took much more than two years.
Brittany Ritcher,
Views
Why
two years? Why not after 1 year or 5 years? What if I told you that the
most important thing you could do would be to FEEL like a billionaire right now?
There are formulas and road maps on to how to achieve any goal imaginable. Everyone will claim to have the answer. It can be helpful to study others who have done so in the past - but that's the trick - it's the PAST. It's not YOU. No one on Quora can tell you how to get there. What will work for you, won't work for any of us, and vice versa. That's why I find it most helpful to focus on your mindset instead. First of all, EXPECT that it will happen. If you don't expect your dreams, who will? Do not let others opinions get in your way. Acquaint yourself with what it FEELS like to be a billionaire now. Get extremely specific about why you want this amount of money, how you would use it, and what it would feel like to reach that goal. What does the moment look like where you realize that you've achieved billionaire status? What does it taste like, feel like, smell like, look like? Put yourself there and truly feel it now. That way, when you are living it in the present moment 2 years from now, you will know that your dreams have become reality.
For money, it's easy for us to have many different hang-ups. We are told that we are greedy or obsessive if we want money. People judge how quickly or slowly we get there, or how we choose to spend it once we have it. Let all that hogwash go. Loving money, from a true place in your heart, just like you would love and care for any person or thing that means a lot to you, will allow you to access the proper mindset. If we know in our hearts that only love leads to expansion and growth, how can we expect to increase our wealth if we believe limiting ideas about it? That’s like yelling at someone, demanding that they feel happy- it’s just not going to work.
If you want to try some exercises to help shift your mindset, I outlined my favorite in this article: The Smart Guide to Harnessing the Power of Love for Wealth Creation
Best of luck to you! Know that there is at least one person out here in this world that knows you will be where you want to be in 2 years time. Can't wait to hear of your success!
Best,
Brittany
CEO of Soultiply with Brittany Ritcher | Life Coach, Public Speaker, & Blogger
There are formulas and road maps on to how to achieve any goal imaginable. Everyone will claim to have the answer. It can be helpful to study others who have done so in the past - but that's the trick - it's the PAST. It's not YOU. No one on Quora can tell you how to get there. What will work for you, won't work for any of us, and vice versa. That's why I find it most helpful to focus on your mindset instead. First of all, EXPECT that it will happen. If you don't expect your dreams, who will? Do not let others opinions get in your way. Acquaint yourself with what it FEELS like to be a billionaire now. Get extremely specific about why you want this amount of money, how you would use it, and what it would feel like to reach that goal. What does the moment look like where you realize that you've achieved billionaire status? What does it taste like, feel like, smell like, look like? Put yourself there and truly feel it now. That way, when you are living it in the present moment 2 years from now, you will know that your dreams have become reality.
For money, it's easy for us to have many different hang-ups. We are told that we are greedy or obsessive if we want money. People judge how quickly or slowly we get there, or how we choose to spend it once we have it. Let all that hogwash go. Loving money, from a true place in your heart, just like you would love and care for any person or thing that means a lot to you, will allow you to access the proper mindset. If we know in our hearts that only love leads to expansion and growth, how can we expect to increase our wealth if we believe limiting ideas about it? That’s like yelling at someone, demanding that they feel happy- it’s just not going to work.
If you want to try some exercises to help shift your mindset, I outlined my favorite in this article: The Smart Guide to Harnessing the Power of Love for Wealth Creation
Best of luck to you! Know that there is at least one person out here in this world that knows you will be where you want to be in 2 years time. Can't wait to hear of your success!
Best,
Brittany
CEO of Soultiply with Brittany Ritcher | Life Coach, Public Speaker, & Blogger
Majid Dajani
Views
This, in my point of view, is a checklist for you to become a billionaire in the shortest time frame "possible":
1. Have a great idea related to the internet that fulfills the needs of a considerable part of the society. It could make their lives easier or save them some money.
2. Be very passionate about your idea. Eat it, drink it, breathe it & sleep with it.
3. Put you idea on paper. Scratch it, modify it, challenge it, research it, check who are doing similar thing and what don't you like about them & remember neither Google nor Facebook were the first in their fields. They got on top of the best ones by offering better products.
4. Bite the bullet and save whatever you can to bootstrap your idea, at least to develop the skeleton.
5. Find a partner that you can be 100% sure he/she has same passion and can commit to the idea and make him a partner (50/50, 40/60) depends on what each one of you will do in the next 2 years and how much capital each contribute. You both should manage your own personal/home expenses on your own at this stage.
6. Incorporate!
7. If neither of you is a technical guy (i.e. coder) for example if the idea is banking related and you are a banker and your partner is good in business development and dealing with third parties, you'll need a very good technical partner. Negotiate with him/her to get 15-25% of equity in a certain time (based on targets). No salary too.
8. Develop the idea to a living model.
9. Go shopping for Seed funds using your prototype. You might want to sign NDA with your Angel Investors. Dream on! Drop this idea. It will show you're scared. Be confident that no one will do it as good as you are.
10. The Angel Investor will take a huge risk to trust you, so he/she will target 7-10x ROI, so they will demand 25-30% equity for their investment. NEGOTIATE! HARD!! Any 1% extra you give away now, you'll never get it back cheaper in the future.
10. Use some of the seed funds (normally 50k-250k) to launch your idea.
11. Hire some support staff to help you. But make sure you have enough funding for at least 3 months in the bank.
11. The initial two partner should split the work. One works on viral promotion of the idea. The second MUST work on securing the next round of investors. Use real statistics of the market response to your product. You must secure the funding as early as possible. The next round investors will be looking for 3-7x ROI.
12. When you secure the funds (sometime known as Series A or Venture Capital) you should include reasonable salaries for you and your team. This funding should be in the range of 1-2 million, for AGAIN 20-30% of equity (taken from all of you including the Angel Investor). So the structure could roughly be in this stage as: You 22.5%, Your Partner 22.5%, Coder 11.25%, Angel Investor 18.75, Venture Capitalist 25%.
13. At this stage you should be in Year 2.
14. Enhance your product. Target market share, not profitability.
15. Look for more investors. At this stage you should go for PE funds and value your company more. They will normally want non-controlling stake. So, no more 10-20% should be sold to them for 5-20 millions.
16. When I say Sell stake, I actually mean raise capital to get to that equiy structure, no funds should go out of the company YET!
17. If your product is a real JackPot (i.e. WhatsApp), you should start showing in the radar screens of BIG FISH. At this stage (3rd, 4th year of hard work), you will receive offers to acquire the company. IGNORE THEM!
18. Get to break-even point. If you need another round of funding, never give more than 10% for a good 50-100 million, IF YOU NEED THEM ONLY.
19. At Year 5, assuming you have a fantastic up trend in your revenues and starting to make a couple of millions profits with considerable market share, your investor will start talking about exit strategy. RESIST.
20. When you receive a good offer (1 billion+ for 20-50%) from a big fish, SELL and put a couple of hundred million dollars in your pocket. CONGRATS! You're now a genuine self-made millionaire.
21. If you still own 10-12% of the company and it goes public in 1-2 years, based on P/E and DCF valuations, your remaining equity should exceed 1 billion.
22. Important notes:
22.1 This is going to be the most thrilling roller-coaster ride of your life.
22.2 Your sacrifices - family-wise - could be huge, so it's ideal if you do it before getting married. This stress is unbearable.
22.3 At every stage prepare yourself to accept when it fails.
22.4 REMEMBER that the most valuable part of it is the experience, NOT THE MONEY.
22.5 GIVE BACK!!!
1. Have a great idea related to the internet that fulfills the needs of a considerable part of the society. It could make their lives easier or save them some money.
2. Be very passionate about your idea. Eat it, drink it, breathe it & sleep with it.
3. Put you idea on paper. Scratch it, modify it, challenge it, research it, check who are doing similar thing and what don't you like about them & remember neither Google nor Facebook were the first in their fields. They got on top of the best ones by offering better products.
4. Bite the bullet and save whatever you can to bootstrap your idea, at least to develop the skeleton.
5. Find a partner that you can be 100% sure he/she has same passion and can commit to the idea and make him a partner (50/50, 40/60) depends on what each one of you will do in the next 2 years and how much capital each contribute. You both should manage your own personal/home expenses on your own at this stage.
6. Incorporate!
7. If neither of you is a technical guy (i.e. coder) for example if the idea is banking related and you are a banker and your partner is good in business development and dealing with third parties, you'll need a very good technical partner. Negotiate with him/her to get 15-25% of equity in a certain time (based on targets). No salary too.
8. Develop the idea to a living model.
9. Go shopping for Seed funds using your prototype. You might want to sign NDA with your Angel Investors. Dream on! Drop this idea. It will show you're scared. Be confident that no one will do it as good as you are.
10. The Angel Investor will take a huge risk to trust you, so he/she will target 7-10x ROI, so they will demand 25-30% equity for their investment. NEGOTIATE! HARD!! Any 1% extra you give away now, you'll never get it back cheaper in the future.
10. Use some of the seed funds (normally 50k-250k) to launch your idea.
11. Hire some support staff to help you. But make sure you have enough funding for at least 3 months in the bank.
11. The initial two partner should split the work. One works on viral promotion of the idea. The second MUST work on securing the next round of investors. Use real statistics of the market response to your product. You must secure the funding as early as possible. The next round investors will be looking for 3-7x ROI.
12. When you secure the funds (sometime known as Series A or Venture Capital) you should include reasonable salaries for you and your team. This funding should be in the range of 1-2 million, for AGAIN 20-30% of equity (taken from all of you including the Angel Investor). So the structure could roughly be in this stage as: You 22.5%, Your Partner 22.5%, Coder 11.25%, Angel Investor 18.75, Venture Capitalist 25%.
13. At this stage you should be in Year 2.
14. Enhance your product. Target market share, not profitability.
15. Look for more investors. At this stage you should go for PE funds and value your company more. They will normally want non-controlling stake. So, no more 10-20% should be sold to them for 5-20 millions.
16. When I say Sell stake, I actually mean raise capital to get to that equiy structure, no funds should go out of the company YET!
17. If your product is a real JackPot (i.e. WhatsApp), you should start showing in the radar screens of BIG FISH. At this stage (3rd, 4th year of hard work), you will receive offers to acquire the company. IGNORE THEM!
18. Get to break-even point. If you need another round of funding, never give more than 10% for a good 50-100 million, IF YOU NEED THEM ONLY.
19. At Year 5, assuming you have a fantastic up trend in your revenues and starting to make a couple of millions profits with considerable market share, your investor will start talking about exit strategy. RESIST.
20. When you receive a good offer (1 billion+ for 20-50%) from a big fish, SELL and put a couple of hundred million dollars in your pocket. CONGRATS! You're now a genuine self-made millionaire.
21. If you still own 10-12% of the company and it goes public in 1-2 years, based on P/E and DCF valuations, your remaining equity should exceed 1 billion.
22. Important notes:
22.1 This is going to be the most thrilling roller-coaster ride of your life.
22.2 Your sacrifices - family-wise - could be huge, so it's ideal if you do it before getting married. This stress is unbearable.
22.3 At every stage prepare yourself to accept when it fails.
22.4 REMEMBER that the most valuable part of it is the experience, NOT THE MONEY.
22.5 GIVE BACK!!!
Uku A. Kudu,
Views
Choose a field
Find a big problem
Solve the problem
Branding, marketing, sales, customers
BOOM :)
2 Years is not enogh, 5 is better. In 2 Years You have to invent or create something totally new...
Find a big problem
Solve the problem
Branding, marketing, sales, customers
BOOM :)
2 Years is not enogh, 5 is better. In 2 Years You have to invent or create something totally new...
Christopher Scott,
Views
Becoming
a billionaire isn't about "having the instinct." It's about setting
attainable goals and creating value for others on a MASSIVE scale.
P.S. The social network startup space is way over capacity.
P.S. The social network startup space is way over capacity.
Paul Matthew Madden
Views
There's
no reason to laugh. But I question your motives. I believe that if you
focus on making $1B within 2 years, you'll be weakening your odds. There
are a ton of variables that go into becoming a great financial success -
even more so within the time frame you've allotted. And even if you
follow the exact recipes that made other people billionaires, there is
still no guarantee you'll achieve the same. The best you can do is
create a solid business plan with attainable goals, and go for it. Don't
miss the forest for the trees. And always stay on track toward your
main goal.
Seth Tapper
Views
Crime.
First get a grub stake by smuggling cocaine. Use drones to smuggle cocaine from Peru across to venezula and then to Puerto Rico. Send the drugs from Puerto Rico by bribing bell men at big hotels to put the coke in unsuspecting tourists luggage as they check out. Steal their bags at the airport in NY or another airport where no one checks the luggage tags. There is no customs between NY and Puerto Rico. You must do this quickly and get to about $15 million in cash. Shouldnt take long. (Alternately kid nap rich people and ransom them. Easier but much more morally dubious.)
Second, use readily available spy tools such as laser microphones to listen in on conversations of major financial players - say Bill Ackman's home office or Warren Buffets place in Nebraska. Pick a few who are easy to access and are very active at size. Insider trade your ass off using an off shore account. Try to run the $15 to $100 million in a few months. After that you will be too big to not get caught.
Next, use your $100 million to start a massive ponzi scheme by targeting existing sellers of pyramid scheme stuff - say Herbalife - and selling a financial product that guarantees 20% returns. Use the 100 million to do marketing on TV (Super Bowl? NFL games, Heavy Heavy on FOX news and other stupid people media) and pay out the dividends weekly so people get excited. Make it viral - the more your bring in the more you make.
When you get to $1 billion - convert it to bit coin and flee the country and assume a new identity.
First get a grub stake by smuggling cocaine. Use drones to smuggle cocaine from Peru across to venezula and then to Puerto Rico. Send the drugs from Puerto Rico by bribing bell men at big hotels to put the coke in unsuspecting tourists luggage as they check out. Steal their bags at the airport in NY or another airport where no one checks the luggage tags. There is no customs between NY and Puerto Rico. You must do this quickly and get to about $15 million in cash. Shouldnt take long. (Alternately kid nap rich people and ransom them. Easier but much more morally dubious.)
Second, use readily available spy tools such as laser microphones to listen in on conversations of major financial players - say Bill Ackman's home office or Warren Buffets place in Nebraska. Pick a few who are easy to access and are very active at size. Insider trade your ass off using an off shore account. Try to run the $15 to $100 million in a few months. After that you will be too big to not get caught.
Next, use your $100 million to start a massive ponzi scheme by targeting existing sellers of pyramid scheme stuff - say Herbalife - and selling a financial product that guarantees 20% returns. Use the 100 million to do marketing on TV (Super Bowl? NFL games, Heavy Heavy on FOX news and other stupid people media) and pay out the dividends weekly so people get excited. Make it viral - the more your bring in the more you make.
When you get to $1 billion - convert it to bit coin and flee the country and assume a new identity.
Dominik Schiener,
Views
Nobody
ever said "I am going to be a billionaire". Most became billionaires
because, well, they had the right idea and developed that at the right
time. You're getting nowhere if you just say you'll be a billionaire.
Think of something unique, something nobody has done before, and then
start developing/executing that idea.
After that we can discuss your "billionaire" dreams.
After that we can discuss your "billionaire" dreams.
Scott Kapelewski,
Views
As others have pointed out, it's not that simple. Planning to be a billionaire is impossible.
I'd be willing to bet you a billion dollars that even if you became a billionaire and had made a detailed, thought out timeline, your path to wealth would not match even 5% of that plan. I'm sure you've read stories of successful entrepreneurs, most of which tell stories about how they failed 900 times before they finally had a solid business model.
What I can guarantee to you is that you will NEVER become a billionaire with that attitude. People who start a business venture with the main goal of attaining wealth and fame will not succeed. Period. Why? Because you're not focused on or passionate about your business. You're focused on the byproduct of a successful business.
The best advice I can pass on comes from my mom: "Do something you love, and the money will follow".
Best advice I've ever received.
I'd be willing to bet you a billion dollars that even if you became a billionaire and had made a detailed, thought out timeline, your path to wealth would not match even 5% of that plan. I'm sure you've read stories of successful entrepreneurs, most of which tell stories about how they failed 900 times before they finally had a solid business model.
What I can guarantee to you is that you will NEVER become a billionaire with that attitude. People who start a business venture with the main goal of attaining wealth and fame will not succeed. Period. Why? Because you're not focused on or passionate about your business. You're focused on the byproduct of a successful business.
The best advice I can pass on comes from my mom: "Do something you love, and the money will follow".
Best advice I've ever received.
Let
me be brutally honest here-if you don't know how to, you just can't.
None was there to advise any of the self-made billionaires and to hold
their hands. Then again, Mark
himself didn't know that he's going to be the youngest billionaire when
he started facemash in Harvard. So all I can say-identify what you do
best that creates value for others (meaning others are willing to invest
time & money for it), rub shoulder with useful people (meaning who
have the influence and money to make your journey easier), identify the
target market segment and most importantly get the right mix of passion
and rationality. If I could give you more specific advice, I would be a
billionaire by now.
Finally, I have a question. I don't want to judge you, but just to make sure I got your question correctly
What does that mean? I know people can have an instinctive talent for singing, dancing, basketball, mathematics, chess or whatever. But an instinctive talent doesn't mean that particular talent will be useful to people who will spend money to make use of that talent. That's why a lot of people go to monotonous jobs instead of pursuing their hobby as a profession. But you have an instinct to make money but you don't know how to?
Finally, I have a question. I don't want to judge you, but just to make sure I got your question correctly
i have the instinct to become a billionaire.
What does that mean? I know people can have an instinctive talent for singing, dancing, basketball, mathematics, chess or whatever. But an instinctive talent doesn't mean that particular talent will be useful to people who will spend money to make use of that talent. That's why a lot of people go to monotonous jobs instead of pursuing their hobby as a profession. But you have an instinct to make money but you don't know how to?
Nicolas Londono Manrique,
Views
technically it is very very simple.... just find something EVERYBODY wants...
Computer: apple, microsoft
nice phone: apple, RIM, nokia
gossip: facebook, instagram, twitter
text gossip: whatsapp
car: henry ford
motorcycles: BMW (that got them started)
cheap stuff: walmart
nice cheap stuff: IKEA
and those are the easy ones in the top of my mind...
but off course looking backwards is very easy.... pushing those ideas to success is what earn them their billions
Computer: apple, microsoft
nice phone: apple, RIM, nokia
gossip: facebook, instagram, twitter
text gossip: whatsapp
car: henry ford
motorcycles: BMW (that got them started)
cheap stuff: walmart
nice cheap stuff: IKEA
and those are the easy ones in the top of my mind...
but off course looking backwards is very easy.... pushing those ideas to success is what earn them their billions
Mike Farkas,
Views
I
am disregarding the time you want to become a billionaire because one,
not everything goes as planned, and two, what's wrong with becoming a
billionaire in 4, 8, or 10 years?
Look for something fresh and unique, something that nobody has yet, but couldn't live without.
Of course Facebook is something you can live without, but I think you get my point.
Don't try to follow in someone's footsteps. Follow your own. Why go against a giant when you can grow in an area no one has inhabited yet?
If you really want to go with the social network idea, go for it. I'm not holding you back, but I think social media is not a great place to go.
I think apps are a better place to be. Start with a free app that gets you a steady stream of ad revenue. Then use that money to invest in yourself. Educate yourself some more by buying books on your particular business interest. Get a secure lifestyle with healthy food, and decent living conditions. Spend on entertaining yourself so that you don't burn out. Then, in discovering the value of money, think twice whether it is all that important to become a billionaire, to live for a number.
Find people to support you, such as your family and friends. Don't mention the money to corrupt them, just tell them your ambition, programming.
It is for the programming and making a difference after all, am I right? Or is it all about for the money?
What a tragedy if it is for the money, that all this time, with all of your friends, food, shelter, and love of what you do, you have been a billionaire all this time.
Look for something fresh and unique, something that nobody has yet, but couldn't live without.
Of course Facebook is something you can live without, but I think you get my point.
Don't try to follow in someone's footsteps. Follow your own. Why go against a giant when you can grow in an area no one has inhabited yet?
If you really want to go with the social network idea, go for it. I'm not holding you back, but I think social media is not a great place to go.
I think apps are a better place to be. Start with a free app that gets you a steady stream of ad revenue. Then use that money to invest in yourself. Educate yourself some more by buying books on your particular business interest. Get a secure lifestyle with healthy food, and decent living conditions. Spend on entertaining yourself so that you don't burn out. Then, in discovering the value of money, think twice whether it is all that important to become a billionaire, to live for a number.
Find people to support you, such as your family and friends. Don't mention the money to corrupt them, just tell them your ambition, programming.
It is for the programming and making a difference after all, am I right? Or is it all about for the money?
What a tragedy if it is for the money, that all this time, with all of your friends, food, shelter, and love of what you do, you have been a billionaire all this time.
Ionut-Cosmin Lang,
Views
FORGET ABOUT IT:
Nobody became billionaire in 2 years from scratch except in the craziness of 99 boom. If you're startup is a social network, consider that it took Zuck 4 years to be a billionaire and I'm not sure we'll see a social network as successful as FB in the few years to come.
PLUS IF YOU HAVE TO ASK US HOW TO BECOME BILLIONAIRE, RED FLAG RIGHT THERE !
If you're only desire in life is to become billionaire like millions of other day-dreamers, you have 99.99% chance of being sad you didn't make it even 5-10 years from now.
I feel like the number of people dreaming of becoming rich or billionaires skyrocketed with the proliferation of internet and successful startup stories since 2000's and optimism is great BUT day-dreaming isn't!
Nobody became billionaire in 2 years from scratch except in the craziness of 99 boom. If you're startup is a social network, consider that it took Zuck 4 years to be a billionaire and I'm not sure we'll see a social network as successful as FB in the few years to come.
PLUS IF YOU HAVE TO ASK US HOW TO BECOME BILLIONAIRE, RED FLAG RIGHT THERE !
If you're only desire in life is to become billionaire like millions of other day-dreamers, you have 99.99% chance of being sad you didn't make it even 5-10 years from now.
I feel like the number of people dreaming of becoming rich or billionaires skyrocketed with the proliferation of internet and successful startup stories since 2000's and optimism is great BUT day-dreaming isn't!
Mike Haas
Views
Several
people, some of whom have been mentioned here, have made billionaire
status in that short a timeline. The one thing they had in common? Their
plans did not revolve around "becoming billionaires."
Strategizing to become a billionaire is asinine. If it weren't, there would be a lot more billionaires. Becoming a billionaire is a positive externality of having an amazing idea, exceptionally rare work ethic, excellent vision, and, to some extent, outstanding luck. The time you spend wondering about how to become a billionaire will get you no closer to your goal.
Strategizing to become a billionaire is asinine. If it weren't, there would be a lot more billionaires. Becoming a billionaire is a positive externality of having an amazing idea, exceptionally rare work ethic, excellent vision, and, to some extent, outstanding luck. The time you spend wondering about how to become a billionaire will get you no closer to your goal.
Li Ma
Views
It is really annoying me that I lately find all these goals about money.
I see all these young people turning their goals into money.
It is not about the money in life, that is not a real motivation.
If you work for the money, you can not handle all the stuff that happens to you and you can not continue to maintain momentum inside you. You are going to fail.
The real goal is all about the ''why questions''.
Why do you live?
What is your purpose?
Why is this your purpose?
I see all these young people turning their goals into money.
It is not about the money in life, that is not a real motivation.
If you work for the money, you can not handle all the stuff that happens to you and you can not continue to maintain momentum inside you. You are going to fail.
The real goal is all about the ''why questions''.
Why do you live?
What is your purpose?
Why is this your purpose?
Charles Tips,
Views
Easy
peasy. To accumulate dollars at the 10^9 level all you have to do is
come up with a 10^10 idea that will make your investors and perhaps a
few key others wealthy at the 10^8 level, make a few score of your early
talent wealthy at the 10^7 level, make hundreds wealthy at the 10^6
level, pay a lot of people at the 10^5 level, pay a lot more people at
the 10^4 level all with a product that will offer millions a 10^2
advantage or tens of millions a 10^1 advantage. Then, get at the end of
the line and wait your turn.
A year might be on the optimistic side, so hurry!
A year might be on the optimistic side, so hurry!
Toni Roman,
Views
Come
up with a plan that won't land you in jail and then get to work! Two
years is not much time. Find a field (not the one I'm in) or industry
where fortunes are made rapidly if not overnight. That is probably IT
or internet. I suggest you forget about sleeping and seeing your family
much for the next two years unless you have an understanding family
that not only supports you but works in the business with you. That way
you can take turns sleeping.
Billionaire in 2 years has been done and first thing is to ignore all those people who say it cannot be done. And there will be plenty of such people. Even on Quora. All the best!
Billionaire in 2 years has been done and first thing is to ignore all those people who say it cannot be done. And there will be plenty of such people. Even on Quora. All the best!
Anonymous
Views
Option-
put and call. If you can make thousands of option calls correct, you
can raise your initial capital to billions. Now, you need a huge bull
market, right peaks and right skills. Test your knowledge Investopedia Stock Simulator
I have seen people simulated $100K to $250M in 2 years-- why not it is possible in real life one has guts, passions and the skills- be the legendary.
Another idea is to buy the Next Big Cryptocurrency in Big numbers and wait for two years. With proper luck it can be $2B. BitCoin was few cents 2 years ago. It hit $1240 in October, 2013. It can make Winklevoss brothers billionaire, if BTC hit couple of thousands.
To gain big, one has to risk big!
I have seen people simulated $100K to $250M in 2 years-- why not it is possible in real life one has guts, passions and the skills- be the legendary.
Another idea is to buy the Next Big Cryptocurrency in Big numbers and wait for two years. With proper luck it can be $2B. BitCoin was few cents 2 years ago. It hit $1240 in October, 2013. It can make Winklevoss brothers billionaire, if BTC hit couple of thousands.
To gain big, one has to risk big!
Abhimanyu Mongandh Ambalath,
Views
Option One
Step 1 : Build an awesome social network.
Step 2 : Use it to meet a love interest who is a billionaire.
Step 3 : Get married with that special someone.
Step 4 : Get the partner to share the wealth.
Option Two
Step 1 : Earn 55,000 USD
Step 2 : Catch a flight to Vietnam (or Iran but that might be hard)
Step 3 : Convert the rest of cash to Vietnamese Dong.
Step 4 : Congrats you are a billionaire.
Step 1 : Build an awesome social network.
Step 2 : Use it to meet a love interest who is a billionaire.
Step 3 : Get married with that special someone.
Step 4 : Get the partner to share the wealth.
Option Two
Step 1 : Earn 55,000 USD
Step 2 : Catch a flight to Vietnam (or Iran but that might be hard)
Step 3 : Convert the rest of cash to Vietnamese Dong.
Step 4 : Congrats you are a billionaire.
Jordan Levet,
Views
Start
a religion. Once it gets going tax your followers 10% or more. Require
missions to obtain more followers. Keep your religion semi Christian.
Satanists tend to get more money, (Satan don't care about your needs)
but then you have to deal with people burning down your church and
yelling profanities at you (irony).
Make up a life-threatening illness, and play it well. Not only will it endow your followers with more faith when you battle it, but they are likely to grant you more money. If you ever have a slump in your religion, make up some miracle and claim you're cured, to renew faith.
Get social. To get tons of followers you're going to have to perform some miracles. Puffer fish poison is relatively easy to cure and sends people into paralysis after about an hour. Warning: Killing people tends to not help the whole religion thing. If you mess this up you might have to hide in the mountains for a few years.
So you need about 50,000,000 followers making 100,000 a year being taxed at 10% to make 1 billion in 2 years. Increasing taxes 10 additional percent cuts that to 25,000,000 however they are going to be much more difficult to get. Mostly since people with over 100,000/yr are going to be a little reluctant to give a large portion of it up. Make up some crap about them being endowed with special privileges and it should ease the pain of gouging.
Just to clarify, this was intended as humor.
I don't want to be arrested because someone decided they were Jesus and poisoned someone else with puffer fish.
Make up a life-threatening illness, and play it well. Not only will it endow your followers with more faith when you battle it, but they are likely to grant you more money. If you ever have a slump in your religion, make up some miracle and claim you're cured, to renew faith.
Get social. To get tons of followers you're going to have to perform some miracles. Puffer fish poison is relatively easy to cure and sends people into paralysis after about an hour. Warning: Killing people tends to not help the whole religion thing. If you mess this up you might have to hide in the mountains for a few years.
So you need about 50,000,000 followers making 100,000 a year being taxed at 10% to make 1 billion in 2 years. Increasing taxes 10 additional percent cuts that to 25,000,000 however they are going to be much more difficult to get. Mostly since people with over 100,000/yr are going to be a little reluctant to give a large portion of it up. Make up some crap about them being endowed with special privileges and it should ease the pain of gouging.
Just to clarify, this was intended as humor.
I don't want to be arrested because someone decided they were Jesus and poisoned someone else with puffer fish.
Amaro Caldas Araujo,
Views
A
bit in line with other colleagues, probably my answer isn't what you'd
expect or like. But my presence here is not to tell you what you want to
hear but my views and insights on your question, regardless of how
cruel or hard it can be. I believe the honest we are the best we can
avoid false hopes and expectations.
And believe
me, I have nothing against billionaires or that you can become one, I
deeply hope you can and if my words that my sound "discouraging" can be
used as a lifter to encourage you, the gladder I am.
I use very often this questions (that I stole from James Altucher I believe :-))
What would you do if you got 1 million dollars?
All answers that I got, go on this trend:
> By a house, car, boat, second house. Pay all my debts, buy a moto, buy a football club and so on and on and on.
See the point? No?
The question was "what would you do", the answer is "I would buy".
Dam I didn't ask what would you buy. I ask would you do.
People
search for meaning in areas where it isn't. You can buy as many things
as you can imagine, but you'll remain empty and unfulfilled and
ultimately not happy, realized or living the life you'd dreamed of.
Now how that links with your question?
First of all the timing of it. where would it come from. Second, the purpose of it.
Why would you settle a goal to become a millionaire?
Self Esteem? Parents or family recognition? public recognition? celebrity?
Money
is a byproduct. Shouldn't never be a end goal or a definite objective.
Of course there's nothing wrong in becoming wealthy, call it rich,
millionaire or billionaire, as long as that's not what drives you in
life. Otherwise you put yourself at risk. Risk of depression when you
don't have that money and when you can't control your level of wealth.
How
can you best plan to become a millionaire? live your life by themes. By
purpose, by being genuine and creating something for yourself and the
others. By creating something (and yes it can be a business) where the
main purpose is the real interest in people, in improving, helping,
finding solutions, connecting, supporting, innovating it will lead to a
flow of sense and fulfillment that becoming billionaire would sound the
least important, even if you become one.
Hope this helps
Richard Johnson,
Views
Are you sure? Do you have the energy, contacts, & equipment?
It'll either have to be software - something everyone in China & India need, for a dollar a pop - or it'll have to one giant thing to a goverment. You simply don't have time to manufacture & distribute a typical product.To sell 200M @ 10, you'd have to produce & ship 35 a second, 24/7.
So #plan# to find an incredible SaaS, partner with the people who just spent three years making it work, and get all your contacts all over the globe to sell it. Then hope you have server capacity.
It'll either have to be software - something everyone in China & India need, for a dollar a pop - or it'll have to one giant thing to a goverment. You simply don't have time to manufacture & distribute a typical product.To sell 200M @ 10, you'd have to produce & ship 35 a second, 24/7.
So #plan# to find an incredible SaaS, partner with the people who just spent three years making it work, and get all your contacts all over the globe to sell it. Then hope you have server capacity.
I
would believe you were going to reach billionaire status more if
instead you had asked how can I add massive value to thousands or
millions of people's lives. Yes you are working on a social network but
are you focused on your customers or on your personal end goal? Focusing
on the money you don't have yet is a surefire way to stay working a
job. The plan you use to become a billionaire will likely look nothing
like what actually happens. Mindset is more important than strategy and
tactics. Do you have a billionaire mindset? Do you even have a
millionaire mindset? Find out what they really believe about the world
of business and adopt it as your own. Then you'll be able to
successfully implement a strategy.
Peter S Myers,
Views
I
concur with Andrei Kolodovski's answer. However, I do represent some
people with a billion dollar net-worth (none of whom, by the way, have a
billion dollars in cash or marketable securities, as many young people
seem to envision; most wealth of any significant magnitude held by a
single family or individual - say, $100 million or more - consists of
closely-held business interests, generally concentrated in one
company).
That being said, if you are as motivated as you claim you are, you could improve your chances from 0% to maybe 0.00003% with the following advice: Marry someone who is worth several billion dollars. It will feel like its yours.
The other way to increase your chances is simply to hire an appraiser to appraise your company at a billion dollars. And really, unless you plan on spending the money (which perhaps you plan on doing) what's the difference? Better to focus on what makes you happy than a metric that the culture has sold to you (and you have swallowed completely).
That being said, if you are as motivated as you claim you are, you could improve your chances from 0% to maybe 0.00003% with the following advice: Marry someone who is worth several billion dollars. It will feel like its yours.
The other way to increase your chances is simply to hire an appraiser to appraise your company at a billion dollars. And really, unless you plan on spending the money (which perhaps you plan on doing) what's the difference? Better to focus on what makes you happy than a metric that the culture has sold to you (and you have swallowed completely).
Miha Ahronovitz,
Views
I don't know about the two years term you impose yourself. But according to Forbes Top 10 Billionaire Cities - Moscow Beats New York Again
, if you live in one of these cities you have a much better chance. I
calculate perhaps a total population of 100 million people where there
are about 800 billionaires, The probability to become a billionaire is
now 0.0008 %, which 40x higher than the probability calculated by Andrei Kolodovski
of 0.00002%. The probability can be further improved if you can work
in some organizations owned by billionaires or interact with their
companies. And so on. The world is an abuse of statistics
Steve Lynch,
Views
For
the low low price of $1,250, I will sell you "Steve Lynch's Seven Super
Secret's on How to Be a Billionaire, Have a Satisfying Love Life,
Regrow Lost Hair and Remove Stubborn Stains" in pamphlet or audiotape
format.
John Collins
Views
I
cannot imagine why that would be a good idea. You will lose all your
real friends, and all your remaining "friends" will be gold-diggers. You
will live your life in fear of losing it. Better to find a way to be
comfortable financially and then focus on more important things in life.
Jim Broiles,
Views
I'm
not laughing. Manic depressive disorder is serious. The hallmark of
the disorder is a firm belief that you can accomplish outrageously
impossible goals simply because you are you and you have the "power" or
"instinct" as you say.
Becoming a billionaire in a lifetime takes money. You can't bank instinct. Becoming a billionaire in 2 years takes a direct line of sight to that money. If you don't have a plan, you definitely don't have the instinct and you will not even come close to this money ever.
I hope that this answer and the others will help you see how ridiculous this notion is and how dangerous it is that you feel so convinced about your ability to achieve the impossible. You might want to get some help before you crash into the wall of reality and harm yourself or others.
Edit: Fair enough. I'm not a doctor and this most likely is not a real question. It is a question posed by someone who is interested in antagonizing a large crowd seeing the answers that will come back. Clearly it worked.
Becoming a billionaire in a lifetime takes money. You can't bank instinct. Becoming a billionaire in 2 years takes a direct line of sight to that money. If you don't have a plan, you definitely don't have the instinct and you will not even come close to this money ever.
I hope that this answer and the others will help you see how ridiculous this notion is and how dangerous it is that you feel so convinced about your ability to achieve the impossible. You might want to get some help before you crash into the wall of reality and harm yourself or others.
Edit: Fair enough. I'm not a doctor and this most likely is not a real question. It is a question posed by someone who is interested in antagonizing a large crowd seeing the answers that will come back. Clearly it worked.
Patrick Donohue,
Views
Watch all the YouTube vids from Singularity University. It will give you the Big Picture so necessary for your ambitions.
Do not fall into the trap of pursuing money for it's own sake. Rather, find a problem and turn it into a product or service. Look at Elon Musk. He saw 3 problems and went after them.
The SpaceX story is nothing but amazing. Currently, there is no company or country that can put a satellite into orbit cheaper than SpaceX, not even the Chinese. He is well on his way to eating everyone's lunch.
Do not fall into the trap of pursuing money for it's own sake. Rather, find a problem and turn it into a product or service. Look at Elon Musk. He saw 3 problems and went after them.
The SpaceX story is nothing but amazing. Currently, there is no company or country that can put a satellite into orbit cheaper than SpaceX, not even the Chinese. He is well on his way to eating everyone's lunch.
George Gonzalez
Views
If you don't plan to steal it, you will have to find some way of adding value to the world.
Take something that is worthless and somehow get people to think it's very valuable. Or actually develop something that is actuall useful and valuable.
For instance useless stuff: homeopathic medicines. Basically a gulp of water sold for many dollars a bottle. Unfortunately that is not real value, it's just perceived value. And there are many established hucksters in that realm.
Finding things of real value is quite a bit harder, the top 88,000 of those have already been thought of. In general due to competition the selling markup ends up down around 5%, so you're not going to be a billionaire anytime soon at 5% per sale.
So you have to think up something NEW, where there is no competition, and has real or perceived value. Good luck with that.
Take something that is worthless and somehow get people to think it's very valuable. Or actually develop something that is actuall useful and valuable.
For instance useless stuff: homeopathic medicines. Basically a gulp of water sold for many dollars a bottle. Unfortunately that is not real value, it's just perceived value. And there are many established hucksters in that realm.
Finding things of real value is quite a bit harder, the top 88,000 of those have already been thought of. In general due to competition the selling markup ends up down around 5%, so you're not going to be a billionaire anytime soon at 5% per sale.
So you have to think up something NEW, where there is no competition, and has real or perceived value. Good luck with that.
Benjamin Osikomaiya,
Views
I
think it is most important that you have a great company selling a
great product, already, then take your company public. follow the good
principle of corporate governance. The result is that your share price
goes up and so your net worth. However if you are starting fresh, you
need to raise a lot of money as seed capital to pass the threshold of
listing on the stock market, once you are there then practice the above
advice. So the lesson is that the stock market will enable you to raise
money to pursue your billion making projects and that's a fact.
Walliam Chen,
Views
There
is not so many methods must be known if you want to be a billionaire ,
the question related to the road of life must be answered by yourself. Just be yourself is best way, in most situation , what your most lack is action rather than methods.
Peter Kadas,
Views
Becoming
a billionaire in two years requires extreme focus and a lot of work and
it's overly exhausting. I'd suggest you to pick the usual path and
become a billionaire in 5 years - you'll have much more free time,
vacations, and a considerably more balanced life... ;)
Anonymous
Views
Jim
Rohn says it takes the average person ten years to become a
millionaire. Let's say you're above average, then you could cut that
down to five. If you're extraordinary, maybe two.
Now, you want 1000 times more money than the millionaire, so take that valuation and multiply it by ten.
It will realistically take you twenty to a hundred years to be a billionaire.
As far as a plan goes, an infrastructure based business would be the way to go. Maybe even commodities, such as metals, electricity, data, etc.
Now, you want 1000 times more money than the millionaire, so take that valuation and multiply it by ten.
It will realistically take you twenty to a hundred years to be a billionaire.
As far as a plan goes, an infrastructure based business would be the way to go. Maybe even commodities, such as metals, electricity, data, etc.
Vinoth Kumar
Views
Here's what I can recommend for your wealth creation fantasy based out of my understanding:
NOTE: I’m not a certified financial planner nor I’m a billionaire. The objective of my answer is to keep you motivated. Maybe you can become a billionaire in 20 years if not in 2 years ;) So shall we get started?
First let’s take a look at the time you have:
2 years = 24 months
24 months = 104 weeks
104 weeks = 730 days
Second let’s plan your wealth creation strategy assuming that you are starting right from scratch with an absolute sum of zero dollars. Here’s what needs to be done:
· Before thinking of multiplying your money, you need to earn your principal amount for your investments. If you start making 200$ every day, then in 2 weeks you can have about 3000$.
When you are making money during these 2 weeks, you’ll also need to plan your investments. So where can you multiply your principal amount?
From my understanding the following options can help you achieve your dream. But all of them involve high risk. I don’t want to repeat the universal truth about risks and profits. So here are the options which serve as potential investments:
· Starting up multiple street business (When I say street business, I mean basic domestic services required by people on a daily basis. No degree required but common sense and network is very important)
· Currency trading in Forex
· Real Estate
· Proving venture capital to 3 different companies
· Purchase of precious metals (Gold, Platinum, Silver, Diamond etc etc.)
Now assuming that you have 2800$, you’ll have to start off your investments in the above order.
Like I said before, I’m not an expert to point out how much to invest and when to invest. Therefore you need to get help on that front from your network if you are not sure.
Alright! Now I’m sure you have already started wondering how this might end up getting you the 2 billion you want. It’s actually simple!! Here’s how it can work.
You just have to make sure to double the financial figures which you earned at each time point so that you can have the 2 billion at the end of 730 days.
2 weeks - 3000$
Month 1 – 15,000 $ (Yeah, make sure you have this amount Mr. To be billionaire)
Month 2 - 30,000 $
Month 3 – 60,000$
Month 4 – 120,000
Month 5 - 240,000
Month 6 - 480,000
Month 7 - 960,000
Month 8 – 1,920,000
Month 9 – 3,840,000
Month 10 – 7,680,000
Month 11 – 15,360,000
Month 12 – 30,720,000
Month 13 – 61,440,000
Month 14 – 122,880,000
Month 15- 245,760,000
Month 16 – 491,520,000
Month 17 – 983,040,000
Month 18 – 1,966,080,000
Month 19 – 3,932,160,000
Month 20 – 7,864,320,000
Month 21 – 15,728,640,000
Month 22 – 31,457,280,000
Month 23 – 62,914,560,000
Month 24 – 125,829,120,000
Yeah yeah! Settle down now and don’t get too excited about the month 24 figure because that’s the total money without the taxes.
Uncle Sam from the Dept of IT will take away a huge chunk of your fortune in the name of tax ;)
Anyway, it was fun answering your question. Just like I answered without validating your rationale, don’t try to validate my answer too. You'll be wasting your time.
Cheers & Good luck in the money hunt :)
NOTE: I’m not a certified financial planner nor I’m a billionaire. The objective of my answer is to keep you motivated. Maybe you can become a billionaire in 20 years if not in 2 years ;) So shall we get started?
First let’s take a look at the time you have:
2 years = 24 months
24 months = 104 weeks
104 weeks = 730 days
Second let’s plan your wealth creation strategy assuming that you are starting right from scratch with an absolute sum of zero dollars. Here’s what needs to be done:
· Before thinking of multiplying your money, you need to earn your principal amount for your investments. If you start making 200$ every day, then in 2 weeks you can have about 3000$.
When you are making money during these 2 weeks, you’ll also need to plan your investments. So where can you multiply your principal amount?
From my understanding the following options can help you achieve your dream. But all of them involve high risk. I don’t want to repeat the universal truth about risks and profits. So here are the options which serve as potential investments:
· Starting up multiple street business (When I say street business, I mean basic domestic services required by people on a daily basis. No degree required but common sense and network is very important)
· Currency trading in Forex
· Real Estate
· Proving venture capital to 3 different companies
· Purchase of precious metals (Gold, Platinum, Silver, Diamond etc etc.)
Now assuming that you have 2800$, you’ll have to start off your investments in the above order.
Like I said before, I’m not an expert to point out how much to invest and when to invest. Therefore you need to get help on that front from your network if you are not sure.
Alright! Now I’m sure you have already started wondering how this might end up getting you the 2 billion you want. It’s actually simple!! Here’s how it can work.
You just have to make sure to double the financial figures which you earned at each time point so that you can have the 2 billion at the end of 730 days.
2 weeks - 3000$
Month 1 – 15,000 $ (Yeah, make sure you have this amount Mr. To be billionaire)
Month 2 - 30,000 $
Month 3 – 60,000$
Month 4 – 120,000
Month 5 - 240,000
Month 6 - 480,000
Month 7 - 960,000
Month 8 – 1,920,000
Month 9 – 3,840,000
Month 10 – 7,680,000
Month 11 – 15,360,000
Month 12 – 30,720,000
Month 13 – 61,440,000
Month 14 – 122,880,000
Month 15- 245,760,000
Month 16 – 491,520,000
Month 17 – 983,040,000
Month 18 – 1,966,080,000
Month 19 – 3,932,160,000
Month 20 – 7,864,320,000
Month 21 – 15,728,640,000
Month 22 – 31,457,280,000
Month 23 – 62,914,560,000
Month 24 – 125,829,120,000
Yeah yeah! Settle down now and don’t get too excited about the month 24 figure because that’s the total money without the taxes.
Uncle Sam from the Dept of IT will take away a huge chunk of your fortune in the name of tax ;)
Anyway, it was fun answering your question. Just like I answered without validating your rationale, don’t try to validate my answer too. You'll be wasting your time.
Cheers & Good luck in the money hunt :)
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