How to be a Billionaire

Martin Fridson is not a billionaire himself. But his book of the same title synthesizes "proven strategies from the titans of wealth."

The basic formula is summed up in three words: aspiration, inspiration, and perspiration.

Wait. Isn't that easy?

Yes. However, with thousands of people with the same energy, you'll have to overcome them by doing much more. And so by studying H. L. Hunt, John Kluge, Ross Perot, Sam Walton, John D. Rockefeller Sr., Bill Gates, Wayne Huizenga, J. Paul Getty, Lawrence Tisch, Warren Buffet, Kirk Kerkorian, Carl Icahn, Phil Anschutz, and Richard Branson, he came out with the following fundamental strategies:

1. Take Monumental Risks
2. Do Business in a New Way
3. Dominate Your Market
4. Consolidate an Industry
5. Buy Low
6. Thrive on Deals
7. Outmanage the Competition
8. Invest in Political Influence
9. Resist the Unions

Key principles shared by the self-made billionaires include:

• Pursue the Money in Ideas
• Rules Are Breakable
• Copying Pays Better Than Innovating
• Keep on Growing
• Hold on to Your Equity
• Hard Work Is Essential
• Use Financial Leverage
• Keep the Back Door Open
• Make Mistakes, Then Learn from Them
• Frugality Pays
• Enjoy the Pursuit
• Develop a Thick Skin
  

Should you decide to become a billionaire, the right time for you to start, as stressed from the book, is, you guessed it -- now. If you're starting from zero though, and since your main capital at the moment is time, it would be best to study the people named above in Wikipedia. And look for startup tags in Digg, reddit, and delicious. Now.

Good luck! Go and conquer!