What Do Billionaires Have In Common?

by Pam on August 17, 2010

Did you know that there are currently 937 billionaires in the world?  Compared to the 6 billion people that live on our planet, that’s an extremely small number.  So what do these folks seem to have in common? According to an article on globeinvestor.com, most billionaires share 5 common traits: entrepreneurism, frugality, vision, risk-taking, and patience.

So billionaires are entrepreneurs with a vision who are not afraid to take risks, but are patient enough to know when it’s the right time to make their move, and even though they may be rolling in the dough, they don’t spend their money foolishly.  That doesn’t sound so hard, so why do so few of us end up to be billionaires, or even millionaires for that matter?

I think it’s because most of us are afraid to take the first step.  We are afraid that we will fail and feel like a loser.  We are afraid to quit our day jobs or we think that we don’t dare challenge the status quo by doing something completely unique.  The truth is I think every one of us has the potential to do something great.  That doesn’t mean we are all destined to become billionaires, but we can definitely benefit by putting their habits into practice.

Don’t be afraid to take calculated risks, be careful with how you spend your money, don’t make hasty decisions that you will regret, and make sure you have a strong vision that will keep you going when the going gets tough.  Don’t be afraid to fail and feel free to let your entrepreneurial spirit soar.   Chances are that a lot of your friends and family will be concerned about you and make discourage you from trying something new, but sometimes you need to take a leap of faith and follow your heart.  After all, that’s what most of the 937 billionaires did, and look where they ended up!

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