The 5 Strategies That Turn The Bankrupt Into A Billionaire - Ask The Rich

Tuesday, May 1, 2018

The 5 Strategies That Turn The Bankrupt Into A Billionaire

 The title may surprise you and make you say, "This is nonsense. I can believe that a millionaire will become a billionaire, but it is very hard to believe that a bankrupt, who is not dependent on anything, can become a billionaire. While your words seem reasonable, the reality is that a bankrupt can be a millionaire, even a billionaire.

 There are many examples that we will remind you of people who have gone bankrupt to the top of wealth, believing in their abilities, patience, perseverance, developing special skills, learning from their failures and difficult circumstances, setting goals for themselves and following a plan and reaching what they want to get rich. In addition, they adopted and adhered to a certain strategy and continued to work tirelessly, despite all the difficulties they faced. 

In this article we will review five strategies that could have the effect of transforming anyone from bankrupt to billionaire.

1/ Do not offer a product but add something of great value

If we review what the rich have done to the world, we will find that they have added value to life. Their reward was to accept people to acquire what they have made and to have gained wealth. Therefore, those who want to have wealth must first enrich the lives of people in one way or another, by adding something new that helps satisfy a need or solve a problem. It must be emphasized here that this strategy does not achieve its results in the short term, but it requires a relatively long time, during which the search for opportunities and the exploitation of them.
Yvonne Chinarard, the founder of the large clothing retailer Patagonia, was able to reap enormous wealth not because he invented a new product, but because he added something new to a known product. It is worth mentioning that his company has been bankrupt one day as a result of legal proceedings against it. But Chinard did not give in, but continued to work, not only for his own sake but to raise the quality of his products and continue to deliver the same value to people. Today, his company is one of the most successful clothing companies in the world, but he did not only replenish his previous wealth, but doubled it and became a billionaire again after he was bankrupt.

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2/ Develop one good idea in the form of a product that people love.

When you see a good idea in your head try to do a simple research in which a sample of people will ask what they think, and they will certainly give you some useful guidance or advice. If you do this, you will be able to recognize what people like and act on. If we want to enumerate examples that correspond to what we say, we may mention dozens of them, but we will suffice here with two examples: to avoid lengthening.
In 2010 Howard Baines owed $ 600,000, losing his home in an open deal, before starting his e-cigarette production business. It took 18 months for sales to reach $ 100 million. After a few years of this huge jump in the market, Japan Tobacco International has 27,000 employees and an annual income of $ 25 billion.
John Paul de Gorea, who was on the verge of poverty, lost his health; he lived with his son in a car and did something unbelievable. He produced cosmetics professionally for beauty salons, and he knocked all the doors to show his goods. He gave preference to the quality and quality of the product, and every day was nearing his desired goal. By the time he was 36, Paul Mitchell Systems had brought the loan and the young son to the top and became one of the richest people in the world.

3/ Look for a promising sector and offer your service.

you must have the ability to keep track of developments around you, and the resulting opportunities to seize them. The field of services is one of the most fertile areas. Every day there are new needs for many services. For example, there are those looking for temporary accommodation in a country other than their own when they travel for a few days to that country. There are also those looking for a limited time car rental to spend their business.
You can take advantage of one of these needs and establish your project through a simple mobile application that benefits people. If we want to go on to mention examples of what needs to be addressed to dozens of articles. As a practical example of success in delivering a service in a promising sector, we refer to the story of Kenny Trout, the founder of Excel Communications, who reached the peak of wealth and success after he had nothing, when he became an international trade broker after deregulation at the first appearance of the telecommunications sector, He has sold more than 200,000 franchises using the multi-level marketing model.

4/ Take advantage of technology

There are many things that can be done through the Internet. And as long as there are human beings who think and invent, the wheel of inventions will not stop spinning. I think we all know who Mark Zuckerberg, the inventor of Facebook, who became a billionaire thanks to that invention. Although Marc was not a bankrupt but the son of a family, he was able, thanks to his thinking and continuing work, to become a billionaire and still in his second decade.
Jean-Com is the inventor of Watsapp, who was transformed from a low-income Ukrainian immigrant to a billionaire after selling the Watsapp to Facebook.

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5/ Invest in real estate.

This type of investment does not suit those looking for quick wealth; it needs patience and patience, but the return may make you a billionaire. Here are two examples of people who were almost destitute, but who had a great fortune by investing in real estate.
 Leon Charney has become a billionaire thanks to his investment in real estate. Leon was a child of an immigrant, and when his father died, there was no money in the family. He had nothing at all. But he insisted that he build himself up and graduate from law school, and then led him to invest in real estate, so he turned from a mere orphan child who has nothing to a billionaire.
Karl Berg, the owner of many billions, was able to make a fortune by investing in real estate after he grew up an orphan living with his mother, who was a schoolteacher. While working at a hotel, he met a man who was one of the largest construction workers in the United States and offered him an administrative position in his mortgage company, starting from a wealthy world.

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