How To Become A Billionaire: Let's Learn From Billionaire Naveen Jain
Becoming a millionaire is the dream of most people, but becoming a billionaire is considered far-fetched for many. Everyone believes they can win a million dollars, and only those who dare to dream big, like Naveen Jain, dare to dream of becoming a billionaire, and they did.
Naveen is a billionaire entrepreneur who founded Infospace, one of the largest Internet companies in the United States before the dot-com bubble collapsed. He also co-founded Moon Express, a company formed by other entrepreneurs to extract natural resources of economic value from the moon ultimately.
Today, Naveen focuses his energy and time on mining the moon and a mission to change people's lives. So how did he accumulate such enormous wealth and become a billionaire? This is the essence of this article.
We will discuss how Naveen Jain thinks, what he does and what he believes are the main factors that made him a billionaire.
Start your morning strong.
In a video interview, Naveen says he used to wake up between 4.30 am and 5 am. Like most successful people, Naveen believes you must work hard to achieve your goals. And an easy way to do that is to get up early. He wakes up earlier than most people because he believes this will give him extra hours to do his work and organize his day.
Highly successful people like Richard Branson, Mark Cuban, Oprah Winfrey, Tim Cook, etc. are early risers. Studies have shown that the first few hours are the most productive because there are no distractions, so you can focus on your work to get more done with minimal interruptions. Also, your mind is fresh and fully charged in the morning. Therefore, you can make better decisions and perform at your best in the morning.
Getting up early is one thing. You are doing what matters. Naveen Jain chooses to stick to his three-morning routine. First, he read news blogs and caught up on emails. Then you will work and exercise. And third, you will meditate before going to work.
Capture emails and read news and blogs.
According to Naveen, this is the first thing he will do after waking up. You'll respond to important emails, read news and blogs, and see what others say.
He believes reading the news and keeping up-to-date with the latest information are critical factors in his success. Warren Buffett, the world's biggest investor, adopted the same routine of reading six newspapers in the morning.
Staying up-to-date is essential in today's business world. Things can change very quickly, and new technologies emerge almost every day. As for Naveen, he is in the space mining business and staying up to date is even more critical. They also say reading other people's news and information is like exercising your brain.
Training and Exercise
Another morning routine that Naveen will continue to do is exercise and exercise. It is considered one of every great leader's most critical success factors. You should start your day strong by mentally and physically preparing for the rest of the day.
Former US President Obama exercises 45 minutes daily, six days a week. He says exercise is the first thing he does in the morning, lifting weights one day and cardio the next. Again, Richard Branson says during an interview that he wakes up at 5 a.m. to swim, kitesurf, or play tennis. Others, like Mark Zuckerberg, Mark Cuban, Oprah Winfrey and Tim Cook, also exercise and work out in the morning before coming to the office for work.
Whether lifting weights, running or swimming, you should exercise daily to stay physically healthy and fit. Most did not exercise because they were too lazy or busy to get up early. Remember that successful people like Zuckerberg and Tim Cook are busy but still find time to move their bodies. And if they do, it simply means that exercise is essential, and we should, too.
To Meditate
And finally, Naveen will spend some time meditating before going to work. Business is like a war, says Naveen, unless you must prepare in mind, body and soul to win the war. So, he chooses meditation to prepare his soul for what is to come.
Scientists have proven that meditation can provide many benefits. For example, meditation reduces stress, improves concentration, increases self-awareness and happiness, and slows ageing.
You might think that it's normal for Indians like Naveen to meditate because he's from Eastern countries, but you'd be wrong. In this modern society, meditation has taken place and influenced many people's lives, including Westerners. Have many famous and highly successful people incorporated meditation into their morning routines?
Tony Robbins, the world's number one successful coach, meditates for about 10 minutes every morning. Huffington Post founder Ariana Huffington says she meditates for 20 to 30 minutes every morning, and celebrity Katy Perry says, "I start the day with transcendental meditation. It puts me in the best mood. I wake up." And sit on the bed for 20 minutes. It's the only time my mind completely relaxes.
Hard work is required.
Naveen strongly believes that anyone who wants to be successful should be hardworking. He says he works long hours every day and always gives his best in whatever he does.
Hard work is mandatory, and there is no substitute for it. According to Naveen, he says that the only way to win big in life is to do your best. And to give your best, you must put 100% into your work. Most people take things for granted and never give their best. As a result, they live in mediocrity and always dream of what they want instead of acting and working hard to get it.
When you study other successful people like Steve Jobs, Bill Gates, Mark Cuban, Elon Musk and other successful entrepreneurs, you will see that they work tough and long hours. Bill Gates, co-founder of Microsoft and one of the wealthiest men in the world, once said that when he was in his twenties, he never took a day off. The same is true of Elon Musk, who dreams of colonizing Mars and making space travel a reality. Alvin says he worked 100 hours a week, including weekends.
You might say that working all the time isn't fun, but that's why most people fail: they prioritize fun over working on their goals and dreams. For highly successful people like Naveen Jain, their work is their drama. They enjoy their work and can devote the whole day to their "work". Their work is fun for them because they are passionate about it.
So, find a way to make your work your passion. You want to work only one day when you're passionate about your work. Then, your work will become your play. As Richard Branson used to say: "A business should be engaging, it should be fun, and it should use the creative instinct. About 80% of your life is spent at work. You want to have fun at home; you Why shouldn't he have fun at work? He didn't think of work as work or play as play. For Sir Richard Branson, work and play are a part of life.
Solve big problems to earn big money
The biggest secret to Naveen Jain's success is solving big problems. Naveen strongly believes that you must be a problem solver to succeed in life. To win a million dollars, solve a million-dollar problem. And if you want to become a billionaire, learn how to solve the billion-dollar problem.
Thousands of years ago, Stone Age humans sharpened a stick and turned it into a spear. They had no idea how to hunt for food, but somehow, they learned to solve a problem by making a spear that could be used for hunting. In today's world, companies are built to solve problems every day. Why do you think people invented cars and computers? Of course, they want to solve a particular issue. And when solving problems, people are willing to pay for the solution. This is how you can earn money by solving problems.
Years ago, Henry Ford found a way to mass-produce automobiles. He was the first to solve the problem of making cars affordable and how to mass-produce them. SpaceX CEO Elon Musk is applying the same principle to his business. Alvin is trying to find solutions to mass-produce rockets and build affordable rockets that benefit the masses.
Naveen is known for his problem-solving mindset. He often tells his audience they must learn how to solve the million-dollar problem to make a million dollars. The question is, how do you do it?
Problem-solving is one of the most important skills one can acquire. There are four basic steps, whether you're solving a problem for your customer, helping problem solvers, or discovering new issues.
1. Define the problem
Naveen Jain is famous for saying, "Solve the problem, not the symptom." And yes, you should focus on the actual problem, not the symptom. For example, if you are on a boat and water keeps coming in because there is a small leak in the bottom, the real problem is the leak, and the solution is to fix the leak. A sign of this is that your boat is flooded, causing it to sink. And if you're working on improving the symptoms, like putting all your effort into draining your boat, the problem persists.
Defining the problem can be easier said than done. Many people are facing financial issues. It doesn't matter if they are looking for ways to make more money or pay off debt; they are dealing with the symptoms, not the real problem.
For example, being rich cannot solve your problem. It can only relieve the symptoms. If you earn $10,000 a month and spend it all, you will have nothing left at the end of the month. And if you're making $1 million and spend it all, you'll be in the same situation and have nothing left. So, the key is not to make more money but to change your lifestyle.
So, learn to understand your problem. And then look for solutions to the real issue, not the symptoms.
2. Find a solution
You can brainstorm and generate as many solutions as possible at this stage. You don't have to limit yourself to just one solution. Just brainstorm and write down whatever solution you come up with.
Thus, one of the best-selling books, "Slim Thighs in 30 Days", was published. The author, Wendy Stilling, wanted to start her own business but needed about $100,000 in capital. So he asked, "What's the fastest way to raise $100,000?" And people asked him to sell the book. Having decided to do so, he asked, "What are the best-selling books in America?" And then, people were saying weight loss books.
And then she began to ask, "How can I distinguish myself as an expert?" And the people replied, "Ask the other women." And that's what he did. Wendy asked, "If you could only lose weight in one part of your body, which part would you choose?" And almost everyone told him it was her thighs. And so she wrote the book "Slim Thighs in 30 Days", which became a best-seller, and Wendy successfully needed $100,000.
You can read books and learn from other successful people who have solved your problems. Get ideas from them and generate as many alternatives as possible. Study and research is one of the best ways to find solutions. Otherwise, you can also learn from the comments by asking around.
3. Evaluate and select the correct solution
After you've brainstormed and found solutions, it's time to evaluate each one and choose the right one as the best solution to the problem. There are many ways to solve a problem, but choosing the right one that is simple and cost-effective may require a little creativity.
As Naveen says, problem-solving is one of the most essential skills to become rich, and you must find the right one. This means you must choose a solution that is easy to implement and can generate revenue simultaneously.
Naveen demonstrates the ability to solve problems in his business. In one of his interviews, he initially thought it would cost about $100 million to launch a rocket and reach the moon, but he soon learned that his team could do it for half the cost. This excites Naveen. He believes that if his company can significantly reduce the cost of travel to the moon, it will be able to change the entire human race. In addition, it can also mean an incredible business opportunity. And that's what Naveen is doing now: finding the right solution to the problem of landing people on the moon.
4. Implementation of the solution
And finally, no matter how good your solutions are, you must implement them. Solving is only part of the equation. If you want to be successful and become a billionaire, you must learn how to act while implementing billion-dollar solutions.
You must understand that knowledge is only one form of potential power. Nothing will change once knowledge is acted upon. And that is the difference between someone very successful and someone who is not.
Successful people like Naveen Jain are all about working and growing. He knows acting is the only way to live his dream and achieve his goal. Unfortunately, unsuccessful people think differently. Unsuccessful people focus on their dreams. They dream about and feel good about their dream but must work to implement the solution.
Never let this happen to you. Learn from Naveen and grow. Learn to be proactive and make things happen instead of reacting and waiting for them to happen.
Money is a by-product.
Naveen is a father of three children. One day, one of his sons told him he would earn more money and be more successful than his father. Being a great father, Naveen is impressed but tells his son that maybe he was wrong. Being successful is about something other than making a lot of money, says Naveen. While it is true that money is necessary and every business needs to make money, the essence of success does not come from making money.
Naveen tells his son that success is about improving other people's lives and that money results from hard work. He encouraged his son to go further and found a nonprofit network of college entrepreneurs called the Kairos Society.
You see, Naveen believes that money should not be your end goal but a by-product of your hard work. He believes that as long as you are changing lives and helping people everywhere in your community to shape the world, the money will follow. When you solve the problems of people in need, your hard work will be rewarded with money.
The problem is that most people focus more on making money than helping people and improving lives, which is why they fail. Think about it: If money is the ultimate goal, the most successful people won't work when they make their first pot of gold. Think of Amazon founder Jeff Bezos. He is a billionaire and one of the ten wealthiest men in the world, but he continues to work and grow his business. Bezos could choose to stop and retire, but he did.
The same goes for all the other successful entrepreneurs who have already amassed vast sums of money, like Elon Musk, Mark Cuban, and Mark Zuckerberg. These exceptional people can retire and live like millionaires. Why do they still choose to work and go to the office every day?
The answer is simple: money is just a by-product for these people. Think about it: If you work for money, you'll only have a little.
First, you should be more focused on money. You should look into the vital factor that determines the success of your business: value creation. And secondly, if you set money as a goal, you will give up long before you get it. Highly successful people are incredibly passionate about their work and willing to do it even if they make little money. As a result, they go the extra mile and produce outstanding results in their work. That is why they continue to work even after becoming wealthy. They love what they do.
On the other hand, if you are working to make money, you will quit when you cannot make money from your business. And so, never focus on making money. Follow Naveen's advice, improve people's lives, and value people more.
Play the games you can win.
According to Naveen Jain, playing a game you can win is another key to success. It is only possible to start a business if you will benefit from it. Start a nonprofit instead.
When an interviewer asks Naveen if it's dangerous, he says no. Naveen says most entrepreneurs don't take risks. They venture into a business where they can see success without risking it.
You must be able to see yourself as a success and be visionary enough to see the future you want. You need confidence, specific goals, and an idea of what you want to achieve in your business to succeed. So, only start a business if you know what you want. If you're going to play, make sure you can win.
Dare to dream big.
If you've read about Naveen, you'll understand that he believes in thinking big. When people ask Naveen what he does in his business, he replies, "Moon mining", and this shocks almost everyone, and people will think that Naveen is crazy or crazy. Naveen, however, didn't see it that way. Instead, Naveen believes in thinking big. "When you tell someone what you're doing, and they don't think it's a crazy idea, you're thinking too small," he says.
His great mindset allows him to move forward and achieve extraordinary success in his life. As the saying goes: "Aim for the stars; if you fail, you'll land on the moon." And that's precisely what Naveen has been doing.
And that is precisely what has happened to Donald Trump, the billionaire real estate magnate who has become the President of the United States. Love it or hate it, Trump has a famous quote that says, "I like to think big. "If you're going to think something, you might as well think big." He could think big, which made him a millionaire. And because he dared to believe and think big, he eventually won the election and became the President of the United States.
The same goes for Arnold Schwarzenegger. When he was young, he was inspired by Hollywood actor Reg Park. And so Arnold trained his body and decided to enter the bodybuilding industry. Many people told him it was impossible, but because he dared to think big, he won several Mr. Olympia titles. Today, Arnold is considered the most successful bodybuilder in the world.
After his bodybuilding career, Arnold became a successful actor like Reg Park. Some told him his goal was crazy and impossible. Some even said that her name is too hard to pronounce and her body is too big to make it in Hollywood. However, he decided to believe in his dream and continue to dream big. The rest, as they say, is history.
Like Naveen Jain, you have to think big to win big. Naveen even thinks of going to the moon and extracting its natural resources through his company, Moon Express. The company won a NASA contract and is participating in the Google Lunar X-Prize, trying to send a private lander to the moon.
Success and wealth do not come from who you are
Naveen grew up in rural India. His family was poor, and he was born in a place with no chair, desk, or blackboard, but despite all these difficulties, Naveen and his brothers managed to attain higher education. Naveen studied and received his engineering degree from the Indian Institute of Technology Roorkee. At the same time, his sister did her post-doc, and her brother did his PhD in Computer Science and Statistics.
Despite all the odds, Naveen became a successful businessman and earned billions of dollars. Naveen believes that difficulties and challenges made him who he is today. He says his humble beginnings made him who he is today. In an interview, he says that his experience shaped and moulded his values into who he is.
And if Naveen can shine and rise from a low-income family to become a billionaire, anyone can. While it is true that your background will not determine your success, it still takes a lot of hard work and determination to achieve extraordinary success in life. More importantly, it would help if you dared to dream big, learn to solve big problems, and always remember that success is about changing lives, not how much money you make.
