In the history of the ultra-rich, John D. Rockefeller came to be the world’s first billionaire. Regarded as the father of the petroleum industry, he amassed great fortunes with his ability to harness new technologies; a trend that continues even today. With the right coaching and mentoring anything is possible, business coaches like Tony Robbins, Jack Canfield, Saurabh Kaushik, Lolli Daskal, etc. are current-age billionaire coaches serving them to achieve their biggest milestones.
Today, there is more wealth creation than ever before. But the billionaire club remains exclusive still. It’s known that many of the ultra-rich started from nothing. Bill Gates quit college and started his business in a garage, and so was the case with Steve Jobs. So what is it that differentiates the ultra-rich and ultra-wealthy from the rest?
Why Business Coaching for Ultra-Rich is a Game Changer Already:
1. The ultra-rich have exceptional determination
Many self-made billionaires possess a somewhat different world view compared to run-of-the-mill businessmen. They’re determined and have big ideas. They are talented in envisioning possible futures. Moreover, they tend to be driven and enthusiastic. They bring laser-like focus to anything they do because they are enthralled by a spectacular obsession. When faced with difficulties and disappointments, they don't give up. They take action and move on. They don’t wallow in self-pity forever because they also know that success doesn’t come overnight.
2. Ultra-wealthy have an abundance & open mindset
Consider the Pacific Ocean. Even if you took out as many buckets as you wanted, you’d still have the entire ocean left. Likewise, money is everywhere. There is no shortage of people ready to invest in great ideas and spend money on great products; the super- wealthy understand this. From a young age, the ultra-rich have been taught to appreciate the importance of having money. They view it as a tool that opens the doors to different opportunities. To put it another way, their drive for financial success is related to their main goal of having more control over their lives.
3. The ultra-rich work because they want to, not because they have to
The difference between ‘financially successful people and ultra successful people boils down to the fact that the latter get pleasure making money, but don't enjoy spending it. Billionaire businessmen Michal Solowow (the wealthiest person in Poland) and Lirio Parisotto (the wealthiest person in South America) both credit their savings habits to their financial success.
4. Ultra-rich have remarkable self-confidence and people skills
Another notable quality of the super-rich is that they have a can-do attitude. They strongly believe in their own abilities. They have an internal locus of control and do not attribute their success to fate, or leave things to chance. They are utterly self-assured and believe they can handle any setback. The ultra-rich tend to be outgoing. They understand that creating a successful businesses is team effort. And given their interpersonal skills, they are adept at convincing others to support their goals. They are unafraid of critics and doubters, they don't accept defeat, and they don't take no for an answer.
5. The ultra-wealthy make riskier investments
Common investors typically opt for safer investments that perform better in choppy markets. On the other side, billionaires frequently choose riskier investments for their portfolios, such as commercial real estate, hedge funds, and private equity. They are more prone to market volatility due to their equity-heavy portfolios. According to the Financial Times, between late July and mid-August, protests shook the city's stock market, wiping $15 billion off the net worths of Hong Kong's ten wealthiest residents.
Not all high net worth individuals may have the same approach to their money and while some of the differences may be superficial, like a preference for subtle displays of wealth over flashy labels. Others, like their preferred investment choices can have substantial impacts are more or less similar in pattern.