Billionaire Status

[robertbanking]

Hello you very intelligent and amazing people, i do hope you are enjoying your weekend.

I was kindly wondering what are the factors that lead some entrepreneurs to become massively successful like Bill Gates, while other entrepreneurs still do well but become millionaires. Is there some factors that will help you become a billionaire, such as scaling the business more rapidly, having access to investors and large capital, such as doing an IPO please? Further what are the factors that help you push past the millionaire stage and onto the billionaire level please is there a different mindset for instance? If anyone had any thoughts on this please, it would be more appreciated than you may know.

Thank you very much for your support and i do hope you enjoy the rest of your weekend. All the best.

 

[Bob Morgan]

Setting yourself limits is most important - Robbing just the one bank was enough for me!

 

[japancool]

Depends where you start. A small loan of a million dollars always helps.

 

[japancool]

Setting yourself limits is most important - Robbing just the one bank was enough for me!

That you, Ronnie Biggs?

 

[Bob Morgan]

That you, Ronnie Biggs?

Colin Beattie - Do you want to buy a Camper Van? - One careful lady owner

 

[GFI]

Right idea. Right time. Right place. Absolutely Massive Balls!!

Followed by pitching it right to really cash rich people who don't realise you are going to dwarf their wealth...

...any how - good luck.

My advice here incurrs a charge of 0.1% of all your future income : )

 

[JEREMY HAWKE]

These people are a lot different I am a very keen follower of Dave Fishwick Bank Of Dave
I knew about Dave before he became famous as back in the day I would often drive past Fishwicks mini buses in Burnley If anybody knows it and they had a national ad in the old Autotrader magazine (remember that)
Dave is relentless and started up the same time as me however he just keeps going and going and while I start at 3am and finish at 9PM unlike me he does it at weekends as well where I am finished by 2PM on Friday as a rule
Now he is very wealthy he still does not go on holidays and that's a non negotiable for most of us!

Most people are not like those people
The best idea for new start ups and people planning to start is to forget all about these people and be realistic in what is achievable Your research leading you to the writing of your business plan will give an idea as to market size and what your business can realise from sales volumes ect

Stop looking at Gates Musk and the richest people in the world forget that crap
Look at normal business people and take little bits of the good stuff from each one but FFS people Stop living in dream land

 

[Bob Morgan]

These people are a lot different I am a very keen follower of Dave Fishwick Bank Of Dave
I knew about Dave before he became famous as back in the day I would often drive past Fishwicks mini buses in Burnley If anybody knows it and they had a national ad in the old Autotrader magazine (remember that)
Dave is relentless and started up the same time as me however he just keeps going and going and while I start at 3am and finish at 9PM unlike me he does it at weekends as well where I am finished by 2PM on Friday as a rule
Now he is very wealthy he still does not go on holidays and that's a non negotiable for most of us!

Most people are not like those people
The best idea for new start ups and people planning to start is to forget all about these people and be realistic in what is achievable Your research leading you to the writing of your business plan will give an idea as to market size and what your business can realise from sales volumes ect

Stop looking at Gates Musk and the richest people in the world forget that crap
Look at normal business people and take little bits of the good stuff from each one but FFS people Stop living in dream land

I totally agree! Recently, I watched a Documentary about Dave Fishwick and loved the way that he 'Upset' people - But in a very gentle and quite genuine way.

Another favourite of mine is someone who is again largely unknown - George Turnbull, who was Production Director at British Leyland. At the height of numerous crises in 1974 he was Head-Hunted by an equally unknown company in South Korea. George was appointed Deputy Chairman of Hyundai Motors - Now the 4th Largest Car Manufacturer in the world!

 

[Mark T Jones]

I'm going to slightly disagree with @JEREMY HAWKE on this one. Dave Fishwick is a great example of a businessman with a bit of entrepreneurial spirit, but he won't make it to the billionaire league for a couple of reasons.

The positive attributes he has include hard working, a bit of vision and an phenomenal talent for self-promotion & publicity. (Bank On Dave is a masterclass on how to turn an established, unoriginal idea into both a documentary & a feature film). All credit to him.

In common with a lot of business owners, his vision is a bit 'local' (literally and metaphorically) and he wants to run things. I'm guessing here, but I suspect that - like many business owners, he is a control freak who can't delegate effectively.

Most of the next-level owners you see will have the ideas, put them into motion and create teams or systems to run them.

Richard Branson is a teams person - he ostensibly 'runs' multiple businesses. In reality he probably has no idea what happens in any of them day-to-day. His job is to manage the teams who run them.

Amazon, on the other hand fooled us all that they were intent on disrupting the bookshop market - and losing a lot of money in the process. In reality they were building a huge plug-and-play platform which could be dropped into multiple business models.

In my view, that is the fundamental difference between a business person and a top level entrepreneur.

 

[Mark T Jones]

Depends where you start. A small loan of a million dollars always helps.

Only if you know what you are doing.

Too much capital is the downfall of many businesses.

 

[LukeTalentTent]

Great question and I think the first and major thing to point out is there is simply no way you can "hard work" your way to billionaire status. For a billionaire to exist, there will always be human beings that are horrifically taken advantage of or mistreated somewhere in the supply chain.

 

[JEREMY HAWKE]

Great question and I think the first and major thing to point out is there is simply no way you can "hard work" your way to billionaire status. For a billionaire to exist, there will always be human beings that are horrifically taken advantage of or mistreated somewhere in the supply chain.

As long as I'm in that supply chain creaming off exactly what I want without too much effort then all is good

 

[NickGrogan]

Great question and I think the first and major thing to point out is there is simply no way you can "hard work" your way to billionaire status. For a billionaire to exist, there will always be human beings that are horrifically taken advantage of or mistreated somewhere in the supply chain.

What makes you think this?

 

[Bob Morgan]

What makes you think this?

Immigrant Farm Labourers being 'Sold' in Florida? - Not something from America's dark past, but alive and well in 2023!

 

[NickGrogan]

sold by billionaires? sold to billionaires?

I dont think you need to go as far as Florida to find farm workers being abused.

 

[Bob Morgan]

sold by billionaires? sold to billionaires?

I dont think you need to go as far as Florida to find farm workers being abused.

- YouTube

Enjoy the videos and music that you love, upload original content and share it all with friends, family and the world on YouTube.

www.youtube.com

Big Farma!

 

[NickGrogan]

- YouTube

Enjoy the videos and music that you love, upload original content and share it all with friends, family and the world on YouTube.

www.youtube.com

Big Farma!

Like I said, no need to go as far as America. Kent or Lincolnshire will do just fine if you want to find this kind of thing.

No billionaires involved though.

 

[LukeTalentTent]

What makes you think this?

Do you disagree? Happy to be proven wrong but can you show me a billionaire where this isn't the case?

 

[NickGrogan]

Warren Buffett



Bill Gates



Mark Zuckerberg



Larry Ellison



Jeff Bezos



Bernard Arnault

Can you give examples of where it does apply?

 

[HFE Signs]

Not every business will have the scope to become a multi billion pound profit making machine - to reach that kind of potential it needs to be something on a very big scale or a niche industry where you can dominate. Big fortune comes with big risk and potentially big losses, you have to ask if it is worth the stress too.

 

[LukeTalentTent]

Warren Buffett



Bill Gates



Mark Zuckerberg



Larry Ellison



Jeff Bezos



Bernard Arnault

Can you give examples of where it does apply?

Sorry but you think Bezos is an ethical billionaire with the working conditions thousands of his employees face? Bill Gates and the Microsoft antitrust lawsuits, Warren Buffett and predatory lending practices.. The list goes on and on. I am not sure we are debating the same thing if you think the likes of your list got where they are through hard work alone.

 

[Bob Morgan]

They didn't where they are by being 'Nice!'

 

[NickGrogan]

Sorry but you think Bezos is an ethical billionaire with the working conditions thousands of his employees face? Bill Gates and the Microsoft antitrust lawsuits, Warren Buffett and predatory lending practices.. The list goes on and on. I am not sure we are debating the same thing if you think the likes of your list got where they are through hard work alone.

So you've changed from "there will always be human beings that are horrifically taken advantage of or mistreated somewhere in the supply chain." to

Unskilled staff at Amazon warehouses should be paid more. The programmers are very well paid.
Microsoft wants you to use their products - how many people don't want to use Windows/Office together?
A company Buffet invested in makes high interest loans to people with poor credit. Should all poor people be denied credit instead?

They didn't get there just through hard work, they were also lucky.

Nothing you've said backs up your initial point.

 

[LukeTalentTent]

So you've changed from "there will always be human beings that are horrifically taken advantage of or mistreated somewhere in the supply chain." to

Unskilled staff at Amazon warehouses should be paid more. The programmers are very well paid.
Microsoft wants you to use their products - how many people don't want to use Windows/Office together?
A company Buffet invested in makes high interest loans to people with poor credit. Should all poor people be denied credit instead?

They didn't get there just through hard work, they were also lucky.

Nothing you've said backs up your initial point.

Eh? I have not changed from anything. Do you really think Amazon warehouse workers are well-treated? The injury rate at Amazon warehouses is nearly twice that of other warehouses in the US. Countless stories of workers hurting themselves, having to skip toilet breaks to meet quotas, shortchanging employees, and the list goes on and on and on. Amazon is notorious for mistreatment of their workers so how exactly does that not equate to mistreatment?

Your other points are strawman arguments and they weaken your argument.

 

[NickGrogan]

Eh? I have not changed from anything. Do you really think Amazon warehouse workers are well-treated? The injury rate at Amazon warehouses is nearly twice that of other warehouses in the US. Countless stories of workers hurting themselves, having to skip toilet breaks to meet quotas, shortchanging employees, and the list goes on and on and on. Amazon is notorious for mistreatment of their workers so how exactly does that not equate to mistreatment?

Your other points are strawman arguments and they weaken your argument.

Amazon reports more issues, doesn't mean that Amazon has more issues.

Jeff Bezos is obsessed with a common Amazon warehouse injury

Jeff Bezos is known for tackling big issues and in his last annual letter included musculoskeletal disorders, a common workplace injury in Amazon warehouses.

www.cnbc.com

Seems like they're doing more about it than other companies.

MSDs, often called “ergonomics injuries,” are typically strains and sprains caused by repetitive motions, overexertion, or task performance in awkward positions and include issues like carpal tunnel syndrome and tendonitis. According to the Bureau of Labor Statistics, retail trade, manufacturing, and social assistance jobs accounted for 50% of all MSD cases in the private sector. While common in factory-line workplaces and among first-time workers, they can also occur through sports, desk-work and everyday use.

“MSDs are common in the type of work that we do and are more likely to occur during an employee’s first six months,” Bezos wrote, adding that the company launched a program to coach small groups of employees on body mechanics and safety which contributed to a 32% decrease in injuries between 2019 and 2020, while the time away as a result of the injuries “decreased by more than half,” Bezos said in the recent letter. “We need to invent solutions to reduce MSDs for new employees, many of whom might be working in a physical role for the first time.”

 

[Joseph K]

Hello you very intelligent and amazing people, i do hope you are enjoying your weekend.

I was kindly wondering what are the factors that lead some entrepreneurs to become massively successful like Bill Gates, while other entrepreneurs still do well but become millionaires. Is there some factors that will help you become a billionaire, such as scaling the business more rapidly, having access to investors and large capital, such as doing an IPO please? Further what are the factors that help you push past the millionaire stage and onto the billionaire level please is there a different mindset for instance? If anyone had any thoughts on this please, it would be more appreciated than you may know.

Thank you very much for your support and i do hope you enjoy the rest of your weekend. All the best.

Hello, I think billionaires are very good in risk management and can spot really well what are the most profitable services and markets for Investment.

 

[m4hmo]

They're very good at hiring people. And enjoy it.

 

[japancool]

I think it's a thousand times better to be a billionaire than a millionaire.

 

[scstock]

I remember this story about Bill Gates, from a documentary about the early days of the personal computer industry ...

IBM were planning to build the first personal computers, but they didn't have an operating system. They went out to the West Coast to meet with some people that they thought might be able to help.

The first meeting was with a husband and wife business, and they opened by saying "before we start discussing things can you please sign this NDA?" The couple demurred, saying they would need to talk to their lawyers first. The IBM guys moved onto their next appointment, with Gates.

When Gates was asked the same question, he just said "sure" signed the document and went on to close the deal. As I understand it, he didn't even have an operating system either but went out and bought would become DOS once he had the IBM deal in the bag.

Draw your own lessons from this!