And they try to see as far along the path ahead as possible, setting checkpoints that they feel they must reach in order to progress well with a venture. Millionaires also make sure that they’re able to absorb small hiccups or mistakes that are bound to occur in any venture. Netflix’s share valued doubled quickly, then tripled, and within five years reached more than $700. Because what they knew that others didn’t was that Netflix was the only marketable online video service in town at that time-no one else had figured out how to make money directly from viewers yet. When I was deployed in Iraq and Afghanistan, my morning. but at a time when trust in Internet sales was still low. (Quikster? Really?) However, those who had done their homework either hung onto their shares, or bought into Netflix. He wakes up around 4 a.m., shaves, exercises for an hour and a half, takes a four or five-minute shower and then goes to the office. Benjamin Franklin planned his routine around waking up at 5 a.m Apple CEO Tim Cook and Disney CEO Robert Iger both get up at 4:30 a.m. A memo for my fellow filthy rich who live in our gated bubble worlds: Wake up, people. In 2011, Netflix’s stock tumbled to just $11 a share after a poor business decision. Is it the right time to sink a bunch of money into a specific stock? If they’ve done their research, they can make an educated guess. Still, they don’t go into situations blindly: wealthy people take calculated risks when it comes to new ventures and big investments Research is a big part of it remember that millionaires read, read, read, but always material that helps them in life. Taking a risk is important to getting ahead and achieving that millionaire status.
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