One simple way to become a Billionaire

Have you ever wondered to yourself just how a person becomes a billionaire? The sheer reality of it can be quite hard to comprehend, can’t it? Last night I was watching a television program about the lives, routines and personality traits of some of the world’s most successful billionaires and it gave some very interesting insights into the real people behind the money.

Here on Money Bulldog we like to try and make complex subjects a little easier to understand and with this in mind I just wanted to share with you one of the points that was brought out in this documentary which may just help you to make your own fortune.

One of the billionaires mentioned and interviewed in the program gave what is probably one of the simplest explanations of how to become a billionaire you are ever likely to hear in your life. Naveen Jain is the billionaire founder of companies like InfoSpace and Moon Express and he is ranked highly on the list of the America’s 400 richest people with a net worth in 2014 estimated to be somewhere in the region of $2.2 billion dollars – so in other words, he has the required credentials. Naveen also owns what is arguably the world’s most valuable privately owned collection of meteorites valued at around $8.5 million.

So what is Naveen’s Money Making Mantra? It’s simple. Naveen says that if you want to make a billion dollars then you just have to solve a problem that affects 1 billion people. If you are then able to get just one dollar out of these one billion people then voila, you’re a billionaire!

Ok, so maybe that is putting things a little too simply but you can see the logic behind the principle. Sure it may not be easy to solve a problem which affects a billion people, but what about a million people? Could that be within your grasp?

If you’re thinking that all of the world’s money spinning problems must have already been solved by now then think again. The world and its technologies are constantly moving forward and it is often the case that with each new move forward, a new problem is created that needs solving. Or on the other hand these new technologies can simply create new opportunities, like the multi-billion dollar app industry for example. Could you create an app that could make you a billion dollars?

Think also about the amount of times you have said in your life, ‘why has nobody ever thought of that before?’ There are certainly opportunities lurking out there.

So if you really want to become a millionaire or even a billionaire then it is time that you got your thinking cap on and used your expertise – or perhaps just your common sense – to start solving problems that affect large numbers of people, problems which these people would be more than happy to pay a few pounds or dollars to have a solution to.

Just to finish off I’ll also leave you with another of Naveen’s quotes. He also said that ‘if people don’t think that your idea is crazy then you are not thinking big enough’. We’re talking here about a guy who is currently planning to start mining the moon. Sure enough some ideas are crazy because they are plain stupid and these are obviously to be avoided. If people think that your idea is crazy because of the depth of your ambition however then according to Naveen, you might just be on your way to a billion if you put enough time and energy into pursuing it and making it happen.

Now then, what problem will I solve? :-)

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8 Responses to One simple way to become a Billionaire

  1. Nicola says:

    I can’t imagine ever having a billion dollars, but I like the fact that you should aim for something big in order to get there!
    Nicola recently posted..The Weekend Edition #17My Profile

  2. Sarah says:

    I always had a thought when I was younger that if I could get everyone in the world to send me just $1 I would be set for life! :) This article was great and I love Naveen’s advice – help a million (or a billion people) and there ya go! You’re rich! :)
    Sarah recently posted..How to set – and keep! – your financial goalsMy Profile

  3. Kathy says:

    I think a lot of people can save or invest their way to being a millionaire but to become a billionaire takes something different. Most billionaires I read about had an idea or invention that a huge amount of people liked and bought into. Bill Gates created Microsoft. Jeff Bezos created Amazon. Steve Jobs started Apple. You won’t become a billionaire by simply saving.

    • Adam Buller says:

      I agree Kathy. I think that once you’ve made a certain amount of money then it is possible to turn it into much more by investing wisely, but you usually have to come up with a great business first to achieve that. I think Naveen was also involved with Microsoft in the early days too and has his name listed on a few important patents.

  4. “Solve a problem that affects a billion people.” I love that. It’s crazy how much we can help and how much we can earn if we can reach enough people.
    Kalen Bruce @ MoneyMiniBlog recently posted..Plan Your Finances Like a Game of Chess and Win the Retirement GameMy Profile

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