There are millions of business leaders across the globe, but only a tiny fraction of them ever achieve billionaire status. Why is this?

Partly, it’s just sheer economics. Not all business ideas have legs. 

However, partly it is to do with their mindset and how they build their businesses. They aren’t content with run-of-the-mill operations. They believe that they are the best – or, at least, they should be. 

In this post, we take a look at some of the specific things that billionaires do when building their empires. Be warned: they think differently. 

They Go Big

Whenever they build anything, they go big. They aren’t afraid to hire commercial builders to construct enormous office buildings and elaborate campuses. Apple, for instance, spent hundreds of millions of dollars on its HQ and has been using it ever since to become the most valuable company in the world. 

Google is similar. It now has campuses all over the world where it conducts novel research into new technologies. It has its fingers in every pie, from anti-aging research to AI to quantum computing. 

They Focus On Quality 

Billionaires also know that they need to build in a way that generates quality. That’s one of the reasons why Elon Musk insists on bamboo floors in car inspection areas of his Fremont factory. He wants to set the scene, priming his team to view every product as a work of art. It’s little touches like this that most people wouldn’t think of that really motivate how billionaires operate.

They Take Risks

Believe it or not, you can become a millionaire without taking many risks. All you need to do is earn a good salary and invest consistently.

However, if you want to get to billionaire status, you have to take big risks. You can’t generate that kind of money living an ordinary life. You have to do something truly spectacular. 

Of course, you want to make sure that you’re taking calculated risks. You need to believe that there is a chance that your hair-brained scheme will succeed. But you absolutely must take the risk. There are no shortcuts to extreme wealth. 

They’re Frugal

Elon Musk made several billion dollars before he even bought himself a house – that’s how frugal the man is. What’s more, compared to other people in his income class, he barely owns any stuff. He’s just focused on what he’s doing. 

Frugality is essential. That’s because building wealth requires holding onto as much of your capital as possible. The more you keep, the more you earn from it. 

They Made Mistakes And Learned From Them

Billionaires aren’t magical people. They’re just individuals who made mistakes and then learned from them. Bill Gates’s first company wasn’t the ultra-successful Microsoft. Instead, it was Traf-O-Data, a company that failed due to a bad plan and execution. 

Gates learned from this experience and put all the lessons into his new company which later became the most valuable in the world on two occasions. He didn’t give up after he made mistakes. He just kept trying and improving.