The Formula For Becoming A Billionaire!

The formula is simple, but not easy, unless you are born to a billionaire.

People often think that to be a billionaire requires you to work super hard and while hard work is an element. A billionaire cant work hundreds of time harder than the average person if he or she wanted to.

Yet others, dole out the popular phrase that to be a billionaire, you need to impact a billion lives. But then are are countless people who have impact a million or a billion lives but are not millionaires or billionaires.

What you really need to do in order to make 1 billion dollars is to solve at least a 10 billion dollar problem.

You can do it by solving it for a billion people

You can do it by solve a 10 billion dollar problem for a million people who can pay for it.

Or you can solve a 10 billion dollar problem for a handful of billion dollar companies or governments.

What way you choose is up to you.

Secondly, the market needs to recognize that you or your organization provides a great solution. If you solve a 10 billion dollar problem but no one sees its worth, you won’t make anything. So it is not just about value but perceived value as well.

Thirdly, you need to have the desire to profit from it and reasonable negotiation skills to get a fair reward, because if you don’t ask for it, you won’t get it!!

And finally, DO NOT underestimate the importance of margins! If it takes 2 billion dollars for you to solve a 10 billion dollar problem, but you are only paid one billion dollars for it, that is not a successful business!

In rare occasions, a larger company may acquire you and pay much more, but that is relying on hope more than anything and hope is not a business strategy!

This is extremely hard to pull off successfully, not everyone can solve a 10 billion dollar problem efficiently, but if you are looking for the formula, that is it!