According to my wife.. if you are born to people like Bill Gates (Microsoft), Warren Buffet (Berkshire Hathaway), Lakshmi Mittal (ArcelorMittal)… Then you are literally born to be a billionaire…
But if you aren’t then according to Forbes you need to first answer these questions to see if you have what it takes to become a billionarie:
Why Go Big At All?
Mapping out your long-term goals for the business is critical before you decide to kick growth into high gear. Aiming to sell out in a few years? Fine. Suffused with competitive desire? Okay. Just want to be left alone to trick out your product, with little care for the bottom line? Stay small.
Can You Tolerate and Manage Ambiguity?
Successful entrepreneurs can see through a jungle of conflicting data. The chief operating officer might want to expand into Asia, but the chief marketing officer thinks the move is premature. “There’s no obsessing over irrelevant details,” says Kane. “Highly successful people have a laser focus and the ability to compartmentalize.” If ambiguity doesn’t grind you to a halt, then you might have what it takes to go big.
Are You Willing To Make Tough Decisions For The Growth Of The Company?
Sure, your sister and college roommate helped launch your business, but they may grow less useful as the business outgrows them. If you’re not comfortable supplanting (or firing) them, stay small.
Do You Like Speaking In Public?
Companies of any significant size need a public face. Entrepreneurs who thrive on public performances–weekly meetings, shareholder gripe sessions, even television interviews–have an easier time than those who prefer to stay out of the spotlight. If public speaking isn’t your forté but you still want to grow, find a confident substitute who can sell your story.
Are You A Consensus Builder?
In most cases, the bigger your business, the more input you need from those around you. That means being willing and able to marshal consensus. Entrepreneurs with a my-way-or-the-highway mentality should think about staying small.
Can You Delegate?
The bigger your business, the less time you’ll have to interact with your employees. Clearly you can’t know what’s going on in every department all the time. If you can’t delegate, forget about growing.
Can You Deal with Isolation?
Being a billionaire can be lonely. “Friends” appear out of nowhere, and authentic relationships are harder to develop. Balanced billionaires can sniff out parasites and cultivate a loyal inner circle of people they trust and enjoy.
Chasing billionaire status–and not courting misery along the way–is as much about knowing thyself as it is about knowing how to nab new customers or manage inventory. Who knows? Maybe a modest $100 million would be a better fit.
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