18/08/2020
The REAL Difference Between Millionaires And Billionaires…
I’ve studied the lives of multiple millionaire and billionaire business owners for over a decade. Amongst the hundreds of books and thousands of articles I have read, I’ve seen a handful of false beliefs being spread that try to explain the difference between what makes them successful. For example, one article taught that billionaires are more successful because they wake up at 4am every day, but many of the millionaires don’t wake up until 5am, 6am or later. Another article taught that billionaires like to make money but not spend it, so saving your money is the real difference.
Really? Could these really be the real secrets?
The biggest argument against these false beliefs is that it’s easy to show the millions of people who consistently follow those same “billionaire habits” without ever becoming billionaires.
So, what’s the real answer?
I agree that the habits you form and the mindset you adopt are very important for helping you achieve millionaire and then billionaire status. But there are 3 big reasons I have found through my studies that I believe to be the REAL DIFFERENCE between the millionaires and the billionaires.
1 - Billionaires Say “No” To Almost All Opportunities
Billionaires don’t waste time on level 6, 7 or 8 opportunities. In fact, even when they are presented with level 10 opportunities, they reject most of them. This is because billionaires have realized that opportunities are a commodity. Each day they have thousands of people trying to convince them of the next big thing. So, in order to avoid information overload and analysis paralysis, they have teams built around them to filter out and ignore 99.99% of all opportunities presented to them.
Billionaires know that our world is full of problems that need to be solved, and that there are endless possibilities for solutions. This is why they don’t say “yes” very often. Instead, they only say “yes” to a handful of the most attractive, high-impact, high-profit opportunities in the world. Their ability to say “no” helps them maintain laser-like focus so they can continually grow their businesses while maintaining billionaire status.
2- Billionaires Don’t Follow The “Standard” Success Formula
I consistently share with our students that there are 2 formulas for success. The first one says:
Information + Action = Success
This formula can take you far. You can achieve millionaire status when you consume the right information and take the right action steps. It’s a formula based on proven principles! But the second formula can take you even further. It says:
Information + Action + Mastery + Vision = HUGE Success.
This second formula shows how Mastery and Vision are two of the X Factor elements that few entrepreneurs achieve. It’s the difference between becoming part of the top 1% and top 1% of the 1%.
Mastery comes when you decide to be so good in your industry that people can’t ignore you.
Vision is the ability to see where the market is going and the ability to create products and services that truly make the world a better place.
Billionaires like Bill Gates, Warren Buffet and Elon Musk have achieved Vision in their markets because they dedicated themselves first to Mastery. When you also decide to include Mastery and Vision as part of your success formula, it will also help you guarantee massive success.
3 - Billionaires Do A Much Better Job At Following The Wealth Formula
There is a simple formula you must understand if you want to make a great income in your business:
VALUE PROVIDED X REACH = INCOME
This formula shows us that anyone who wants to increase their income needs to figure out how to either:
1 - Provide more value to the people they reach
2 - Expand their reach
3 - Or do both
Billionaires are masters at doing both. They have figured out new and innovative ways to provide more value to the customers they serve. Then they build a team around them that helps them grow their reach. Instead of serving a few thousand customers, most billionaire businesses serve millions or hundreds of millions of customers. Because those businesses are able to provide more value to more people, the incomes of the owners continue to increase.
These are the 3 REAL differences I have found between the millionaires and billionaires in the world:
1 - Billionaires Say “No” To Almost All Opportunities
2- Billionaires Don’t Follow The “Standard” Success Formula
3 - Billionaires Do A Much Better Job At Following The Wealth Formula
Do you agree?
Do you disagree?
What do you think I am missing?
What is something you feel to be the real difference between millionaires and billionaires?
Let me know in the comments below!
Also, what was your biggest insight from today’s post?
Have you been able to apply any of these secrets in your business?
Please share your insights and stories in the comments so we can get a great conversation going!
P.S. Please share this post with someone you know who owns a business. They will thank you for it! Also, I’ve been in the trenches secretly writing a book and performing some really cool social experiments that I will be posting about over the next weeks and months. So stay tuned! You’re gonna love it!
