7 Steps to Follow to Become a Billionaire from Scratch

Yes, what you read is correct, you can become a millionaire from scratch.

According to Forbes, there are 2095 billionaires in the world right now.

Not luck worked for them, but they built companies that made them billionaires. 

But how the companies?

All because of the internet, emerging technologies, benefit from global markets, and so on.

But, if you take the whole population, only a few become billionaires. 

Not all.

But why?

Here is a point where you have to think.

Maybe because of the education, or skill, or money or luck and can list more.

I will not say you can become a billionaire in just one day.

I want to be honest with you.

Even you fail to follow all the 7 steps will still end up being a multi-millionaire.

Trust me. This is how it worked for all the big guys in the world.

So for sure, it will work for you too.

1. Start Early

No one would give the first 1 million to start on unless you have rich parents. 

So, you have to earn the first capital to invest in your business.

If you start early, let’s say you are starting at the age of 16.

Usually, a business takes seven years to reach a level of maturity. 

 
So, at the age of 23 or 24, you do not have to think about money much because you already have a 

the business which gives a moderate amount of income.

But, let’s say now you are older than, then you have to work harder to make the business more running.

2. Build & Grow your first successful business

Start your first business.

Think of a niche and work on it.

It may be a small business like selling crafts, arts, or accessories.

Or it may be building websites, graphic designing, logo making whatever.

Select a field in which you have the passion and what you can do with your current skill set. 

Once you started your business, you have to grow. 

Have a network of people who are doing the same as you. 

Build a community with people already made success in the field.

Try to get help from them, because they already passed the hurdles that you gonna jump.

When the business starts growing, you will realize how the market is changing, what people want, and how competitors are working, and so on.

You have to work a lot at the start to bring people into your business. 

Test different products, adopt different strategies. 

Sometimes a business will go up, sometimes not.

Learn from the experience.

At the end of 3 to 4 years, you will become a mature business person. 

3. Invest in Yourself

Congratulations. You have successfully started your business.

While building up your small business, you have to invest in yourself as well!

Read books, interviews, case studies, observe how successful people behave what they are doing and follow the same.

Luckily information is free to allow in the 21st century. 

Take some time and invest some money to improve your skillset. 

Quickly as you enhance your portfolio, the greater the chance you go up in the market.

Self learns, self motivate, manage time, and improve your soft skills. 

Investing in you pays the best dividends.

4. Sacrifice

To be honest, you have to sacrifice a lot to become a billionaire.

You have to sacrifice your time, energy, money, and sometimes your relationships and family.

This is why only a few become billionaires among the whole world population.

Most of the people do not want to sacrifice a lot. 

Still, they are happy with whatever they have. 

So this is your choice that you have to make. 

If you have the potential to make sacrifices, then go ahead.

You have the strength to become a billionaire one day.

5. Sell your first business

You started your first business and put a lot of effort to make it successful.

You have started at 0, but the business is paying huge money now.

This is the time you have to sell. 

Big guys are ready to buy if your business is going well. 

If you show that your business will succeed until the end, there are competitors out there who willing to pay you out.

Sell your first business and become a multi-millionaire. 

At this point, start the race to earn 1 billion.

6. Build a New Business

Now you are in the race with other multi-billionaires.

You are competing with big guys in the market. 

Follow the same procedure you did when building up your first business. 

But the difference is you have the market now. You have money to invest. You have people who trust you.

Think of an innovative idea of what people need from you.

Think of a product where people ready to spend a lot. 

Check on other industries, and then adopt the concept in your business, that is so-called INNOVATION.
Something new and creative.

7. Do Not Quit

Remember that you are in the race. 

You can’t stop in the middle if you do so, your competitors are ready to take up your position.

The big companies always have an eye on the businesses which massively growing.

That’s how Facebook is paying $1 billion for Instagram or $19 billion for WhatsApp.

This is the point you have to decide,

1. Whether you gonna sell your business which pays out many billions, Or
2. Whether you gonna beat the big guys on top as Google did. 

If you select the first option,

Keep in mind, if you show them that you gonna rule the world in the future, many people are ready to pay even trillions to get your business on their hand. 

But if your choice is the second option, 

Remember that Google didn’t sell their business to Yahoo even tried two times to buy.

So what you have to do is to execute. 

Have a proper plan. Work on it. Hit the success with the bang.