I feel so privileged to be in the blogging company of a billionaire …
Guerrilla Billionaire [AJC: who, presumably is so humble that he doesn’t even pay $12 at GoDaddy for a real domain name, prefering to use: the free one provided by Typepad … so humble, it brings tears to my eyes] offers a course on How to Become A Billionaire.
Thankfully, he also provided a link to an article written by a guy who interviewed a REAL Chinese billionaire 5 or 6 times:
It seems that this Chinese Billionaire’s ‘secrets’ are along the lines of being humble (he started as a peasant boy), being nice to everybody (you never know when the next peasant will become your competitor, financier, or business partner), being scrupulously honest (apparently, there’s a way to be unscrupulously honest that, so far, I am blissfully unaware of), and to leave plenty of meat on the bone for others.
Of these, perhaps the last is the only ‘real’ secret that I can see in all of this (5 interviews and no secret business or money management techniques?!) … or, at least the only one (other than being honest) that I can relate to:
In my latest property development deal, I am sharing 25% of the project profit (plus a $200k fee) to my partner who is essentially doing nothing other than project management … he’s not putting a penny into these deals (I’m paying him $200k + 25% on each): I’m funding 100%.
I could hire an experienced building project manager for less than the $200k fee alone, yet I am potentially giving away millions to this guy.
Well, part’s the ‘honesty/ethics’ bit: he did find me one of the pieces of land that I aquired and pointed me towards the real multi-story condo development potential of the other (I had a much less lucrative project in mind); not to mention, he helped me with the rehab of my house.
But, that’s not quite the full story: while I don’t normally like partners – in fact, have never had one before – this is a whole new thing for me … I know nothing – nada – about property development, having always been a buy-and-hold guy. Again, I could have bought in the expertise, but that may not be the same as having somebody that I can (hopefully) trust who now has skin in the game.
We shall see if this strategy works; and – given how much I have already learned (property development is EASY) – whether I will go it alone on any future projects.
But, there’s a LOT to be said for not looking at how many beans are on the other guy’s plate: if you’re hungry, and you’re also eating beans, who cares?
Oh, as to the billionaire course, I won’t be taking it – even though I probably need an instructor for Making Money 401.
Fortunately for you, you already have a bona fide multimillionaire to guide you through MM101, 201 and 301 …
… even if I’m not very humble – at least as far as this blog, using my semi-anonymous AJC identity, goes, 😉