Why It Is Possible to Be a Billionaire

Once I set my goal to become a billionaire, I began to find reasons you can become a billionaire today more easily than ever before. They are:

1. With just a telephone line, the Internet is making a world of customers available to most of us.

2. The Internet is creating more business beyond the Internet. Just as Henry Ford created more business as a ripple effect of mass producing cars, the Internet will magnify its effect. The Internet makes it possible for 6 billion of us to each become a Henry Ford or Bill Gates.

3. In the past, the rich and the powerful controlled the media. With technological changes yet to come, the Internet is almost like each of us having the power of owning our own radio and television stations.

New inventions breed more new inventions. An explosion of new technology will make other areas of our lives better. Each new technological change will allow more people to develop more new and innovative products.

5. As more people become more prosperous, they will want to invest more and more money into new startup businesses, not only to help the new business but also to share in the profits. Today, it is hard for most people to grasp the reality that there are literally tens of billions of dollars looking for new innovative companies to invest in every year.

6. It does not have to be high tech to be a new product. Starbucks made a lot of people rich with just a cup of coffee, and McDonald's became the largest holder of real estate with just a hamburger and fries.

7. The key word is "ephemeral." In my opinion, that word is one of the most important words for anyone who desires to become rich or super-rich. Webster's defines the word as meaning lasting only a day, or lasting only a short time.

One of my teachers, Dr. R. Buckminster Fuller, often used the word "ephemeralization." I understood him to use the word in the context of "the ability to do so much more with so much less." A more common term is the word "leverage," or the ability to do a lot with just a little. Dr. Fuller said that humans were able to provide more and more wealth for more and more people, while using less and less.

In other words, with all these new technological inventions—inventions that actually use very little raw material—each of us can now make a lot of money with very little time and effort.

On the flip side of ephemeral, the people who will make less and less in the future are those who use the most in raw materials and physically work the hardest in the process of earning their money. In other words, the financial future belongs to those who do the most with the least effort.

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Improving Your Financial IQ

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