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8 ways billionaires are different from everyone else

Published by Business Insider on Wed, 26 Apr 2017


Billionaires don't see the world like most others do.That's why they're billionaires. They have their own unique habits, traits, principles, and ethics that all place a role into helping them achieve, and retain their wealth.The good news' By replicating and mimicking a few of their habits, mentalities and business rules, we can become more and more like them in the business world.With that in mind, here are 8 ways that billionaires are different than us and what we can do to become more like them.SEE ALSO:13 habits of self-made millionaires, from a man who spent 5 years studying rich people1. They never settleMost billionaires would agree that having passion is the most important way to achieve success. As opposed to chasing the money, billionaires opt to chase their dreams. And, they don't waiver when it comes to this because they believe that success will follow as a result."The most common thing I remind people of is to only pursue something you love because a small business is going to be very demanding of your time, your energyit just eats your life," Sam Adams founder Jim Koch told Business Insider. "And if you're doing something you love, then you will accept and even enjoy that. If you're just doing it to get rich, you're gonna lose heart. I tell everyone, getting rich is life's biggest booby trap. It comes down to what would you rather be, happy or rich' I say do what's gonna make you happy."If that doesn't inspire you, then memorize the iconic words from Steve Jobs 2005 Stanford Commencement address:"You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle."2. They work harder than everyone else but still enjoy lifeBillionaires work hardsometimes harder than everyone else. In fact, they're known for their insane work ethic."You just have to put in 80 - to 100-hour weeks every week," Elon Musktold Vator. "If other people are putting in 40-hour workweeks and you're putting in 100-hour workweeks, then, even if you're doing the same thing, you know that you will achieve in four months what it takes them a year to achieve."Mark Cuban spent all-nighters learning how to code and didn't take a vacation for sevenyears. Today, that seems to have paid off for Cuban, who appears to enjoy living his life.Even though billionaires work hard, and they'll make sacrifices for the short-term because of this, they also don't forget to have fun in order to recharge their batteries, and well, enjoy the fruits of their labor. Just look at Richard Branson. Who wouldn't want that lifestyle'3. They keep things simple"Don't bother to have a plan at all. All that stuff about planning, throw that out," said Eric Schmidt, former CEO and current executive chairman of Google, in a commencement address at Carnegie Mellon University in 2009. "It seems to me that it's all about opportunity and make your own luck."Schmidt may be onto something when he suggests to throw out your plans. If you look at most billionaires, they didn't have complex and massive goals. They had a simple purpose. Henry Ford wanted to make the automobile affordable for everyone. Bill Gates wanted a PC in every home. Jeff Bezos started an online bookstore. Mark Zuckerberg wanted to connect people.While these billionaires hada defined purposethey were simple.Additionally, billionaires are also known for constructing simple plans, instead of detailed or elaborate plans. The reason' It makes it easier for them, and their team, to focus on activities that will benefit their business the most.See the rest of the story at Business Insider
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