How to build a Billion Dollar Business to Change the World

Not everyone wants to build a billion dollar business, however, a nice side effect of building a billion dollar business is you can take what you have learned and teach others and use large sums of money to help people live healthier, happier and better lives.

Imagine how may children in challenged areas of the world you could get school books for if you had a billion dollars? You could change their world and lives for generations, in fact, forever.

Recently, I watched a program hosted by Darren Hardy publisher of Success Magazine and he offered six tips he gained from interviewing Billion dollar business owners that can guide you to your own personal success.

One
Revolutionize an industry by asking one specific question
Elon Musk with his creation of the Tesla Roadster changed the way people viewed electric cars. Before they were ugly now people know the can be sexy.

Elon Musk consistently has said that when you want to create something that will impact the world ask for negative feedback from everyone especially your friends. You need to know what does not work to build the best product.

Two
Pick the Right People
Bill Gates told Darren Hardy in an interview that he believes one of the main reasons for the success of Microsoft is that the company had and has the right people. Sir Richard Branson founder of the VIRGIN group, agrees that you have to pick the right people especially if you want your company to grow and then you have to trust them to do the right work.

Warren Buffett knows that the value of any business he has bought is not the product they sell but the management who run the business. It is the management he studies to see if a company will grow and prosper.

Read more about Buffett’s approach to life and business in his book that I finished reading called The Snowball

One final note about picking the right people is that you need to know your strengths and weaknesses and hire people to immediately help you deal with your weaknesses.

Three
It is not Talent it is work
Donald Trump is famous for saying that ‘the harder I work the luckier I get’. Trump spends a lot of time at work, in fact, he lives in Trump Tower where his office is located. Many people are not willing to put in the extra time to build up a business and Elon Musk says you have to work long hours to be successful.

Four
The Key to keeping Focus is this
Steve Jobs said that the key to keeping focused so you can create the best products for your customers is to learn how to say NO. You need to say no to things that do not help you achieve your goals.

One way of making it possible to say no is delegation as mentioned in number two above. As Sir Richard Branson said ‘find someone that is better than you at a task and hire them.’

Five
Do not take Failure Seriously
A lot of successful business owners had failed businesses in the past. The key to their current success as pointed out by Richard Branson is that they learned from the failure.

Elon Musk said ‘ You want to avoid failure as much as possible and if it happens learn from it.’ As mentioned above by Musk one way to avoid failure is to ask for negative criticism and listen to it.

Six
Always Believe you can be Better
Warren Buffett is one of many people who knows that the most important thing to invest in is yourself. You need to be obsessed with learning says Tony Robbins

When you sit on what you know you stagnate and make no progress. Michael Jordan during the height of his basketball career still believed he had room to improve so he continued to practise and learn how to play better.

I will add a number seven to this inspired by Oprah Winfrey. Believe in yourself! (Oprah’s latest book is What I Know For Sure)

Take sometime and digest these ideas they help simplify the step to success that most people don’t practise.

How many people do you know who seek negative criticism for their work like Elon Musk? How many people do you know who focus more on the people like Warren Buffett rather than the product being created?

I hope this helps you, it has helped me now go ahead and share.

All the best,

David

P.S. Yes, I recommend books on and by these people. One of the best ways I have ever learned is by reading about how others have succeeded in what I want to learn about. I recommended this strategy to you as well.

Books Referenced in this article linked to Amazon for reviews.

The Snowball: Warren Buffett and the Business of Life

Oprah Winfrey: What I Know For Sure

Who Is Bill Gates?

The Virgin Way: Everything I Know About Leadership

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

MONEY Master the Game: 7 Simple Steps to Financial Freedom

Trump: The Art of the Deal

Steve Jobs: The Man Who Thought Different