1. Create something that adds an abundant amount of value to the world.
Today, as it has been for all our recorded history, becoming a billionaire entails building and adding an abundant amount of value to the world.
The richest and most successful people have added the most value. That is how real wealth is attained.
Find some creative way that you can add an excessive amount of value to the world. This is not a short term strategy. This takes time.
But it also involves seizing opportunities as they arise. I watched a documentary recently on Yvon Chouinard, the founder of Patagonia got incredibly rich not by inventing a new product, but by improving on existing product.
We need more creative thinkers in Ghana and Africa. Make a pledge to be one. The more you create, the higher chances you stand for breaking through.
What can you create that would add value to the world? Engage your mind. Think differently. Thinking is FREE but most people don’t do it. The only time the average person thinks is when they got themselves into trouble or someone or something hurt them.
2. Want to be a billionaire? Create a consumable product that people love.
There are a number of industries in consumable products that are simply taking off like wild fire. From cold-brewed coffee to energy shots and drinks.
What one consumable product do you know in Ghana? How are they making money? How can you outsmart some of the consumable products in the system by adding some branding to yours?
Be a brand builder. Billionaires build brand and leverage on their brand.
3. Want to become a billionaire? Insert yourself as a service provider into a high growth industry.
We saw AirBnB and Uber grow from obscurity and blow-up the air mattress rentals on floors and the transport business respectively into a global giant business hence making the owners of Uber and AirBnB, who were all once broke become billionaires.
Identify high growth industry and become a service provider. Few suggestions; hospitality industry, E-commerce, Financial Services, Insurance Industry, Event Management at high level.
4. Want to become a billionaire? Find a way to improve communication or connection online.
Mark Zuckerberg became one of the world’s wealthiest individuals by improving connection and communication online. Today, we all know about the success of Facebook. The value Zoom Communications quadrupled from when Covid19 hit the world. Founders of LinkedIn are making it big time?
What would be the next level of communication? Maybe you can be the one giving the one the next level communication and connection tool? It comes back to doing creative thinking. In our guest to become billionaires; it won’t be easy. We need to be different. We need to think not just outside the box but we need to think like there’s no box.
Financial literacy is a skill that build in us the ability to set big goals and ways to achieve these goals. It helps us get organized with our net worth and cash flow.
These two elements of financial literacy are the foundational stone to becoming a billionaire.
The richest people in the world are valued based on their net worth. But heyyy a lot of thinking goes on behind the scene. I have shared with you some of the creative thinking process to get our net worth up there.
Let’s be intentional and let’s think long term. We can do it!!!!
Kind regards,
PETER KWADWO ASARE NYARKO,
AUTHOR | FINANCIAL ADVOCATE,
CFLE, AFRICA.
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