Tag Archives: millionaire
It is often apprehended that hoarding money and success can let you enjoy the secret path to becoming a millionaire. Well, it is a popular misconception that needs to be done away with. People, as they become rich rear certain habits and attitudes that go a long way in helping them stand a step ahead from the average Joe. Money and success do not shape their thinking; rather, it is the other way around. It is the conjunction of their habits and attitudes that help them to define their wealth.
Millionaires are found to have similar traits, particularly, if they are immigrants. This has been observed through the study of history. It all begins with the idea of modeling. It is important to follow a role model that acts as a source of inspiration. There cannot be a better model than a millionaire himself.
A positive attitude regarding the current financial situation is extremely vital in order to look ahead towards further growth. It can be a tremendous driving force behind the sustenance of their money-making power. This positive attitude helps them to act differently than an average person. They face obstacles with confidence, accept risks with courage and proceed undauntedly in the face of opposition. They set high goals for themselves and work relentlessly to realize their endeavor. The expectancy of success with regard to their financial goal gets realized in the process.
During the 1960s, Dr. Elwin Bautista emigrated from the Philippines to America accompanied by his wife Julia and settled down at Midwest. They basically belonged to the group of international medical graduates, who were being recruited by the medical centers in America. Dr. Bautista decided to pledge his service to the hospital, where he received his training. Elwin made good use of this opportunity to practice advanced medicine and eventually and honed his skills in surgical specialty. He went on to develop life-saving techniques that were acknowledged by the surgeons across the world. With the gradual rise in fortunes, the Bautista couple emerged as the rising millionaires.
They had always believed that regardless of being an immigrant or a millionaire, the core value that ought to be regarded dear, is education. There can be no substitute to successful education as this alone makes a complete individual, who is equipped to take all decisions with the best of intentions. This idea gets reflected in the professional status of their five children who went on attain advanced degrees in law, occupational therapy, psychology and divinity.
The journey to become a millionaire occurred when Dr, Bautista’s surgical practice caught on and he became a business partner in a successful clinic. On the other hand, Julia concentrated on enhancing their assets through conservative investments like the retirement plans sponsored by her husband’s clinic and mutual funds.
Bob’s father passed away when he was just a teenager. He began to assist his mother to run the existing family business smoothly. He had never been wealthy but, when he immigrated from the Soviet Russia, he managed to attend the prestigious private school in Chicago. He made a good network of friends who later on evolved as important business contacts.
During the World War II, he discovered that he had an IQ of over 150 through a test. This helped him to get into the department of counter intelligence. As his first step towards becoming a successful millionaire, Bob concentrated in establishing a strong wholesale network across the Midwest. This was when he returned to resume the responsibility of his family business. His firm emerged as the sole supplier of a popular brand of cookers.
In 1960s, Bob diversified his investment as he realized the unforeseen potential of the FM radio. He indulged in radio manufacturing and bought several radio stations. Two decades later, Bob had already reaped his benefits and decided to retire after selling most of his interests. He has also focused on the private-placement bonds, real estate and venture capital. He has always reiterated that to become a millionaire one needs to think, plan, invest and work in tandem. He observes, “The success lies in making more good decisions than bad decisions”.
John Jacob Astor is America’s first millionaire. He was a German immigrant who arrived at Manhattan with just five English pounds with himself, at the age of sixteen. But, that did not deter him from evolving himself as the most reputed and well-known millionaire in the American society. He inculcated his business strategies so as to successfully amass the vast swaths of Manhattan and eventually, his dream of becoming a successful millionaire was fulfilled. He became the largest and the wealthiest landowner in New York. Astor was born in Baden, Germany in 1763 and apart from being a millionaire businessman; he was a real estate builder, inventor and writer as well. His father was a butcher by profession and he was the third son.
He started off with a fur trading firm and focused on building his network across the whole of America. In 1811, he laid the foundation of Astoria, which happens to be the first American settlement in the West Coast. He crossed the Pacific and traded with China, his products included opium and then he gradually switched over to a more lucrative option – liquor. He exchanged liquor for fur with the Indians. He even made a $10million donation for covering the expenses of the World War I, although he was completely against the war. His fortune multiplied when he was presented a bundle from the war bonds.
Nina Vaca arrived at Los Angeles at the age of two as an immigrant from Quito, Equador. The goal of her family was to build up a business where all their children will not find it difficult to participate. Vaca observes today that her father had once stated, ‘the key to American dream is through entrepreneurship’. But perhaps Mr. Hernan Alfredo Vaca did not imagine that his daughter would evolve as a fantastic entrepreneur just at the age of thirty-five. Nina Vaca’s Pinnacle Technical Resources is an information technology business that had a reported turnover of $60 million in 2006.
After arriving at America, Alfredo started a travel agency and planned to have five chains of the same for his five kids. The children were required to take a bus downtown in order to witness the progress and working of the family business. After Nina’s graduation, Alfredo got killed in a robbery and decided to put the company for sale while she did her major in business from the Texas State University.
She discovered her ‘talent for attracting clients’ while she was working with a technology company in New York and Dallas. At 25, she opened Pinnacle and began recruiting IT talent for companies that required aid to administer their computer systems. She had found out a way on how to become a millionaire.
Jeong Kim had sold his telecommunications company in 1998, when he was just 37 for a whopping amount of $1.1 billion. His story of becoming a millionaire is a classic rags to riches one. Being an immigrant from South Korea, he was almost alien to the English language when he first arrived at the United States at the age of 14. He sustained himself with the help of several jobs which included a night shift at the 7-Eleven stores when he stayed at the basement of his math teacher. He was 16 at that time.
Then, with the help of some financial aid, he attended the Johns Hopkins University to acquire his engineering degree. After completing his graduation, Kim decided to join the Navy as he felt that he had some ‘obligation towards the society’. For seven years, he served at a nuclear submarine and inculcated the attributes of leadership, teamwork and integrity.
As Kim says today, he had inculcated his business philosophy from this part of his life – to say less and do more. In 1992, Kim started off as a consultant and acquired $75,000 that formed his capital when he performed a nuclear safety assessment. Then, he made a formal introduction of his technology and started to sell his switches to AT&R, Verizon amongst others. His company is called Yurie Systems. He also got involved in the optical networking business.
Arianna Huffington is a co-founder of the Huffington Post and a syndicated columnist. Born in 15th July, 1950, in Athens, Greece, Huffington has acquired the twelfth position as the Most Influential Women in Media in the Forbes list of 2009. Her father Konstantinos was a journalist and a management consultant and her mother Elli was the sister of Agapi – a speaker, performer and an author. At the age of sixteen, Arianna arrived in England to acquire her college degree from the Girton College at Cambridge University. She lived in with Bernard Levin, a journalist and broadcaster in London. In 1980, she came over as an immigrant to the United States and got involved in the religious group of John-Roger and began to be known as a left-wing democrat.
In 1985, she came across Michael Huffington, an oil millionaire, and went on to marry him a year later. Michael won a seat in 1992 as a Republican candidate and in 1997, Arianna got divorced. Her journey towards becoming a millionaire was primarily through marriage and later followed through her writing assignments. In 1981, Arianna wrote the biography of Maria Callas and in 1996, of Picasso. Arianna along with her writing team of ‘Politically Incorrect with Bill Maher’ was appointed for the Emmy for ‘Outstanding writing for a variety’. She briefly enjoyed an acting stint also. In 2003, she was the head of The Detroit Project and she also has been an independent candidate against Arnold Schwarzenegger.
Levis Strauss was born to German-Jewish parents on the 26th of February, 1829. His birth place was Buttenheim, Bavaria. After the death of his father in 1845, his two elder brothers traveled over to New York City to join the Jewish community. Levi came over accompanied by his two sisters and mother and began to work in the dry goods business run by his brother. In 1853, Levis became an American citizen and shifted base to San Francisco in an attempt to become a part of the California God Rush. This was his first step towards becoming a millionaire. The miners out here required a robust pair of trousers to survive the mining conditions and this is how Levis came out with the denim fabric. By 1870, Levi emerged as a millionaire with Levi Strauss & Co.
An European immigrant tailor and a customer of Levi, Jacob Davis, approached Levi and wished for a patent in 1873. Davis had been involved in the strengthening the pocket corners of Levi’s denim fabric. Davis offered to share the patent with Levis if he placed the money for the patent application. In the same year, Strauss and Davis attained the patent after a deal was struck between them. In 1890, the lot number 501 began to be used to identify the legendary 501 blue jeans. Strauss passed away in 1902 and the charities and scholarships propounded by this illustrious man still live on.
Ben Way believes that he was a nightmare child and was born in Devon, England. His father was an accountant and his mother was an artist. At nine, he was diagnosed with dyslexia. He was presented with a laptop by his father and within a very short span of time; Ben managed to learn the computer applications. It was the beginning of the computer age and Ben was already well aware of the intricacies of the machine. This offered him the directive on how to become a millionaire.
The parents of his friends wanted to learn computers and they approached him for help. Ben began to charge 10 Pounds for an hour of teaching. This was the humble beginning of a full-fledged computer consultancy business, which was slated to evolve as a millionaire game. The school students approached him for classes and his annual turnover was over 20,000 Pounds! This was a business that Ben ran for three years and at 16, he left school in order to concentrate on this business completely.
He evolved as a millionaire and greatly enjoyed being a part of all those chat shows. Ben was paid a six-figure salary by investors from New Jersey. It was total change of lifestyle for Ben, but then the Dotcom bubble frizzled out and he landed in a soup. In 2002, Ben established Rainmakers and again succeeded in re-establishing himself as a self-made millionaire. He deals with product ideas related to all kind of technology.
Here is a story on how The FruitGuys came into existence and currently earning the dividends of ripened profits. This is a business roughly worth $10 million and is owned by Chris Mittelstaedt. Chris was lucky to have been born to an entrepreneur family. His father was a pilot too and from him Chris learnt that it is always essential and beneficial if one is able to keep an eye out to note the early indications for trouble.
With the rapid surge of the online market portals, the regional fruit delivery business of The FruitGuys went for a slump. Chris incurred a personal debt of around $100,000. It was then that he realized that it was important for him to focus on the macroeconomic perspective. He restructured his business and introduced a stringent credit policy, more variations in costs and designed a national expansion. He dealt with the massive crates of produce, made the deliveries personally and today, he is enjoying the fruits of his labor.
Within a decade of its launch, The FruitGuys got engaged with the operation that involved delivery of superior quality produce to over 3,000 businesses across the nation. There is also a conscious attempt to endorse wellness in the community. It involves building athletic centers at offices, helping the low-income communities or collaborating with the farmers.
If you dream to become a millionaire, your idea of entrepreneurship should be characterized with a proper vision, something that you believe in.