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| Bill and Ellen |
We all want to be rich whether so we can finally order limitless pizza, get more girls than Solomon or make the life of some poor and hungry child in Africa worth living. These are all valid reasons to wanna land big bucks. But then, you never know if you're really on the right path to riches or are just one of the majority of humans who live and die at their jobs, plotting crime and dreaming about being rich someday but never get there because they didn't have or know the little big things that made a skinny, nerdy and obscure college kid like Bill Gates become a billionaire by 21.
Below is a YouTube video interview of Bill Gates by Ellen DeGeneres on her show TheEllenShow and i'd be doing a breakdown of the video to highlight some hints from Mr billionaire that give insight into the rich mindset after you watch it.
Enjoy
I couldn't help but lmfao at that hilarious waist whine of Bill Gates. Won't be surprised at all if I heard that Bill did some stripping in male stripclubs around college, to cover little expenses and support his dorm company.
Now here are some hints I picked up from the interview that reflect the mindset of Bill Gates as a model of the rich in general.
Note: Numbers in red ink show time when a point was made in video.
00.21- 00.40
They don't care what people think and aren't ashamed of being themselves: How do you feel when called upon to give a speech before a group of classmates or to dance during the wedding of a friend? Do you freeze and get all self conscious and tensed like a healthy and chubby antelope surrounded by skinny hungry wolves? If yes, you've got tons to learn from the above picture of one of the richest men the world knows.
One thing that distinguishes the rich from the mediocre and poor is their immunity against criticism and fear of people's opinion of them. This skill is invaluable and pivotal to success because the only things that can add value to you and make you rich are things that are new, strange and most people don't and won't do. But guess what? Most people are poor.
Poor people frown at anything that's beyond their poor and narrow horizon. Poor people are generally mentally lazy and so prefer to continue in their fruitless but widely accepted routine than go against the crowd, question convention and innovate. They fear criticism and the opinion of others who are also poor and petrified of standing out.
Albert Einstein simply stated this reality when he said: thinking is the hardest job and that's why only few engage in it.
So if you wanna be rich, be ready to stand out most times and develop thick skin against people's opinions, negativity and criticism especially when the people are poor.
01.36 - 01.54
They make their passion their job:
When Ellen asked Bill if he always had his eyes on money or tech was just something he loved. He said he'd always loved software, and he even admitted to being stunned at how profitable it'd become. O yeah! Exactly my point. How many middle aged and fresh outta college workers do you know who hate to have to get up very early and go to their painfully annoying jobs and bosses? Maybe your dad, mom, teachers, neighbor, friend's parents, the gardener, the annoying garbage man and virtually every adult you know. This people would quit their jobs in split milliseconds if they didn't have goddam bills to pay. So, their only motivation at work is the pay they hope to get after the month or day. But i'll tell you the truth about money as cold and hard as it is. If you are offended, then pay me a visit on my bed right now and gimme a nose job.
Now you listen. Making money is one of the hardest tasks you will ever undertake during your stay on this earth and there are no shortcuts. If there were, I promise i'd have found them. Instead, on the path to success are heart rending obstacles that'd make you think for a moment or maybe more that being poor and mediocre might just not be so bad an idea afterall.
The journey is even 102,000 times more impossible if you're doing what you hate. The rich know this and dare use their passions and even hobbies to become money mongers while the poor actively convince themselves that their hobbies are worthless.
The truth is anything can make you rich and no path to wealth is a cakewalk.
Therefore, so long as your passion for whatever the hell you do is stronger than the obstacles you're bound to meet, and enough to give it enough persistence and development to take it to world class level and compete in an ever advancing generation, it can make you rich whether it's video games, movies, music, writing, cooking etc.
While everyone thinks they've done great exploits and played their part on the course to their own financial freedom by getting a college degree and are thereby entitled to being slapped with the best employment benefits, no one ever gives a moment of thought to what sort of human beings must've created such ready-made employment opportunity. Well, the answer is simply: someone with the exact same fear, doubts, needs and "qualifications" as everyone. But that someone launched out without any assurance from anyone, and decided to get into the much loathed driver's seat of life, weather all the risks and ridicule embedded in being at the forefront as everyone's including life's crash test dummy. Such rare gems are the Bill Gates of our time who took it upon themselves to bother about the payroll while everyone else bothered about a salary.
These people grow to becoming godlike at leading even older and more experienced people (like in Bill's case) and making loyal adherents outta them for Christ's sake.
So whenever I hear some loser ask why all em entrepreneurs make all the big bucks while the penny earners do all the hard work? Well, there's no much i've got to say. All i've got for them is: try starting a successful company that is a financial umbrella for an enormous web of countless employees with countless other responsibilites all looking up to you to solve the very same financial problems you struggle with, in the very same economic climate.
When Ellen asked Bill if he always had his eyes on money or tech was just something he loved. He said he'd always loved software, and he even admitted to being stunned at how profitable it'd become. O yeah! Exactly my point. How many middle aged and fresh outta college workers do you know who hate to have to get up very early and go to their painfully annoying jobs and bosses? Maybe your dad, mom, teachers, neighbor, friend's parents, the gardener, the annoying garbage man and virtually every adult you know. This people would quit their jobs in split milliseconds if they didn't have goddam bills to pay. So, their only motivation at work is the pay they hope to get after the month or day. But i'll tell you the truth about money as cold and hard as it is. If you are offended, then pay me a visit on my bed right now and gimme a nose job.
Now you listen. Making money is one of the hardest tasks you will ever undertake during your stay on this earth and there are no shortcuts. If there were, I promise i'd have found them. Instead, on the path to success are heart rending obstacles that'd make you think for a moment or maybe more that being poor and mediocre might just not be so bad an idea afterall.
The journey is even 102,000 times more impossible if you're doing what you hate. The rich know this and dare use their passions and even hobbies to become money mongers while the poor actively convince themselves that their hobbies are worthless.
The truth is anything can make you rich and no path to wealth is a cakewalk.
Therefore, so long as your passion for whatever the hell you do is stronger than the obstacles you're bound to meet, and enough to give it enough persistence and development to take it to world class level and compete in an ever advancing generation, it can make you rich whether it's video games, movies, music, writing, cooking etc.
02.04 - 02.08
They are gurus at managing people and risks: While everyone thinks they've done great exploits and played their part on the course to their own financial freedom by getting a college degree and are thereby entitled to being slapped with the best employment benefits, no one ever gives a moment of thought to what sort of human beings must've created such ready-made employment opportunity. Well, the answer is simply: someone with the exact same fear, doubts, needs and "qualifications" as everyone. But that someone launched out without any assurance from anyone, and decided to get into the much loathed driver's seat of life, weather all the risks and ridicule embedded in being at the forefront as everyone's including life's crash test dummy. Such rare gems are the Bill Gates of our time who took it upon themselves to bother about the payroll while everyone else bothered about a salary.
These people grow to becoming godlike at leading even older and more experienced people (like in Bill's case) and making loyal adherents outta them for Christ's sake.
So whenever I hear some loser ask why all em entrepreneurs make all the big bucks while the penny earners do all the hard work? Well, there's no much i've got to say. All i've got for them is: try starting a successful company that is a financial umbrella for an enormous web of countless employees with countless other responsibilites all looking up to you to solve the very same financial problems you struggle with, in the very same economic climate.
02.34 - 02.43
One of such poor principles is the "if you want a job done well, do it yourself" principle. The rich use this instead: if you want a job done well, have experts do it, so you have time to think and do the things you really enjoy in life."
If Bill had lived by the poor principle of do it yourself, Microsoft would be one of the thousands of small and obscure software stores littering the streets of Seattle.
But in the interview, Microsoft wasn't the topic. Bill's foundation which offered basic education to the poor was. Bill employed the services of many of the best teachers, who help to improve the efficiency of the even more less skilled teachers. No wonder Bill's been able to claim a staggering 5 million people from the clutches of illiteracy. Would've loved to see him do it single handedly.
They are huge fans of cashflow over mere savings:
Bill mentions that he always had enough cash reserves to run the company and pay workers for a year even if profits were halted and customers stopped patronizing. This is the whole idea of cahflow. While saving is passively putting a percentage of one's earnings (especially income from active work)away to weather unexpected financial storms, cashflow is really the result of every financial decision of a manager/business owner that determines how much money rolls into the business, rolls out and most importantly, stays in.
So, while saving is a single action, cashflow refers to a series of decisions that are aimed at making as much money as possible come in and stay in and as little as possible go out and stay out.
You propably heard that savings won't make you rich. True. Saving is only a small percentage of your already low income and it's a no-brainer. But cashflow is actively generating and growing streams of income until it becomes way larger than all your living expenses. That's what wealth is built on.
02.48 - 03.10
The rich have little problem delaying gratification:
I cringe when I see young kids make their first million and off they go buying a Porsche and a big house because they imagine they've arrived. That's preposterous! These purchases will only succeed in burying you in the deepest depths of debt and recruit you into a lifetime of slavery to maintaining such luxury. For the really rich, they purchase luxury long long long after they could pay for them. They buy a Porsche when they can purchese two planes and buy a plane only when they can buy a whole nation.
In the interview, Bill refers to his purchase of a Porsche and later a plane as indulgences and his "two great sins" although he had more than enough to maintain them well without the least dent on his net worth. The rich all think this way because they understand too well that being able to pay for a luxurious item or liability is a million light years away from being able to afford it. As a general rule though, if you don't have enough disposable money to purchase ten times the value of something, then you really can't afford it. Just put away the purchase for now because you'll surely find that not being able to maintain your luxury is far worse than not having it in the first place.
03.47 - 04.40
Helping to improve human existence has always been the plan:
Those I refer to as the rich here are not merely those with tons of hard raw bucks. No. I'm talking of those endowed with the rich mindset. These people may even be broke in the interim, but surely not for too long. Some others too may already be in big money now but lack the rich mindset and will also not remain in the bucks for too long. The points i'm dishing out in this article are the facets of the rich mindset and one of the most important of them is the innate desire to improve human existence that's even stronger than the desire to amass wealth. in fact, it is the desire to help man that motivates the really rich to wanna land big bucks.
No wonder Bill and others like him commonly inject large chunks of their money into projects and foundations to better life.
A product of this mindset is the Bill&Melinda Gates foundation which aims at providing basic amenities and education for the less privileged which currently runs on a 40 billion dollar budget.
04.48 - 05.11
They don't believe in doing it yourself:
What would you do if your mom always beat you, chastized and criticised you for always wanting to delegate responsibility, saying that attitude of yours would make you unsuccessful if you kept on with it, only for you to somehow shed off that attitude and grow up still unsuccessful, discovering much later that that quality your mom said would make you poor is the exact quality the rich have that makes them rich?
Answer: You'd do nothing to her cos she's your mom. You'd still do nothing even when she blames you as an adult for being broke.
Now listen. Be careful who you accept financial advice from. Just because a person is poor doesn't take away their eagerness to hand you financial advice. But know that while you shouldn't be rude, know in yourself that such person will really give you the financial principles they live by that keeps them poor.
What would you do if your mom always beat you, chastized and criticised you for always wanting to delegate responsibility, saying that attitude of yours would make you unsuccessful if you kept on with it, only for you to somehow shed off that attitude and grow up still unsuccessful, discovering much later that that quality your mom said would make you poor is the exact quality the rich have that makes them rich?
Answer: You'd do nothing to her cos she's your mom. You'd still do nothing even when she blames you as an adult for being broke.
Now listen. Be careful who you accept financial advice from. Just because a person is poor doesn't take away their eagerness to hand you financial advice. But know that while you shouldn't be rude, know in yourself that such person will really give you the financial principles they live by that keeps them poor.
One of such poor principles is the "if you want a job done well, do it yourself" principle. The rich use this instead: if you want a job done well, have experts do it, so you have time to think and do the things you really enjoy in life."
If Bill had lived by the poor principle of do it yourself, Microsoft would be one of the thousands of small and obscure software stores littering the streets of Seattle.
But in the interview, Microsoft wasn't the topic. Bill's foundation which offered basic education to the poor was. Bill employed the services of many of the best teachers, who help to improve the efficiency of the even more less skilled teachers. No wonder Bill's been able to claim a staggering 5 million people from the clutches of illiteracy. Would've loved to see him do it single handedly.
Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
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