8 Remarkable lessons that will add value to your life from self-made Billionaires

Wondersource CEO

While most people don’t dream of being a billionaire, there are many valuable lessons that we can learn from them in pursuit of our own unique goals. 

Here are 8 lessons that we can all apply to our own lives when pursuing anything meaningful.

1) Dream Big

In a blog post published in 2017, Richard Branson wrote, “Dreaming is one of humanity’s greatest gifts; it champions aspiration, spurs innovation, leads to change, and propels the world forward. In a world without dreams there would be no art, no adventure, no moon landing, no female CEOs, and no civil rights. What a half-lived and tragic existence we would have. The benefits of dreaming far outweigh the perceived risks, because the value of dreaming isn’t just measured by the outcome, but the inspiration that comes from the journey of achieving the dream.”

2) Be willing to make big bets

When Facebook launched the News Feed feature in 2006, protesters demanded that the social networking site return to its earlier state. Zuckerberg is proud of his team for not caving to popular opinion.

In response he wrote, “One of the things I’m most proud of about Facebook is that we believe things can always be better, and we’re willing to make big bets if we think it will help our community over the long term. News Feed has been one of the big bets we’ve made in the past 10 years that has shaped our community and the whole internet the most.”

3) Focus is key

As an explanation for why Steve Jobs was the person that influenced him most, Tim Cook, CEO of Apple Inc, said, “He had a focus that was unlike any other.” What allowed the legendary former CEO of Apple to focus so intently was his ability to prioritise, says Cook: “His thinking was so pure. He wasn’t trying to maximise his wealth, or anything else.”

4) Commit to a goal

Tim Draper, a venture capitalist and billionaire, was asked what advice he had for people who would like to be as successful as he is, he answered: “Choose a goal and go after it.”⁠⁠

5) Accept failure as a part of success

⁠⁠Jack Cowin, who founded Competitive Foods Australia (which owns Burger King’s Australian franchise as Hungry Jack’s) believes, “If you haven’t had a few failures, you haven’t tried enough. You’ve been lazy.”⁠⁠

Move through self-doubt and start (or continue) working on whatever is meaningful to you. Avoid looking back at your actions in a critical way. As Oprah said, “failure is another stepping stone to greatness.” Focus on what you can do now to improve the future.⁠ ⁠⁠Think progress over perfection. Jay-Z famously said, “The genius thing that we did was that we didn’t give up.”

Self-made billionaire businessman and investor Kenneth Langone, who helped create Home Depot, had humble beginnings but enjoyed unconditional love, which later helped him get over his failures and not let them bring him down.

“When you’re in the risk-taking business at the level that I am, not everything you’re going to do is going to work,” he said. “Where you really lose is when it doesn’t work, and you start being abusive to yourself in terms of your qualities and your abilities.”

Again, billionaires aren’t superhuman and they can also be hard on themselves like everyone else. The important thing is learning from your mistakes and looking at “failures” as a stepping stone to success.

6) It’s never too late

Amancio Ortega was 40 when he founded Zara. So, if you think dreams of being hugely successful were only reserved to twenty-somethings, Ortega shows us otherwise. And he’s not the only one.

At 50 years old, Ray Kroc was still wandering and had not yet have arrived at his destination. Ray Kroc, the man who grew McDonalds to the global brand that it is, sold paper cups and milkshake mixers until he was 52 years old, before finally franchising the McDonald’s concept.

7) Give back

Truly successful people understand the importance of giving back, especially to those in need. While the pursuit of success according to your own unique definition of success is key to living a fulfilling life, it’s important to remember to give back.

And giving back doesn’t have to be in the form of money. It can be as simple as offering to help a friend in need, an overworked colleague or an elderly person with their grocery bags. If you’re too busy to give back, then you’ll miss out on opportunities to help others, lift them up and bring more joy and fulfilment into your own life.

8) Get a coach

When asked what the best advice he ever got was, Eric Schmidt, former CEO and Chairman of Google and Alphabet Inc., answered “get a coach.”

He explained, “The advice that sticks out I got from John Doerr, who in 2001 said, “My advice to you is to have a coach.” The coach he said I should have is Bill Campbell. I initially resented the advice, because after all, I was a CEO. I was pretty experienced. Why would I need a coach? Am I doing something wrong? My argument was, How could a coach advise me if I’m the best person in the world at this? But that’s not what a coach does. The coach doesn’t have to play the sport as well as you do. They have to watch you and get you to be your best. In the business context a coach is not a repetitious coach. A coach is somebody who looks at something with another set of eyes, describes it to you in [his] words, and discusses how to approach the problem.

Once I realized I could trust him and that he could help me with perspective, I decided this was a great idea. When there is [a] business conflict you tend to get rat-holed into it. [Bill’s] general advice has been to rise one step higher, above the person on the other side of the table, and to take the long view. He’ll say, “You’re letting it bother you. Don’t.”⁠⁠

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Wondersource is a life-changing holistic healthcare platform helping employees and individuals live healthier, more empowered lives at work and at home. To find and book vetted experts, coaches and alternative healthcare professionals for healthy and successful living. Browse our experts here or email bookings@wondersource.co

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