3 Things The World’s Most Successful Business Leaders Taught Me About Money

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You see these people in the news or on your newsfeed.

You may love them or you may hate them, but one thing’s for sure – you want to be them, at least where they are financially.

So I have done you a favour. After some stalking researching, I present to you 3 things that 3 different business leaders have taught me about money, whether it’s making, managing or investing it.

1) “If You (Are) Born Poor It’s Not Your Mistake, But If You Die Poor It’s Your Mistake.” – Bill Gates

Bill Gates

[Image Credits: http://geniusquotes.org/tag/bill-gates/]

Ouch. That was quite a wake-up call, wasn’t it?

Indeed, circumstances don’t dictate who or what we can be, so we better not use that as an excuse.

So what lesson about money can we learn from this quote?

Quite simply, and most importantly, quit finding excuses for our lack of money. You know, usual ones such as the increasing cost of living or having a stagnant monthly income from our job?

Let’s start doing whatever it takes to generate more cash, whether that is having a part-time job on the side or starting a business or learning how to invest in the stock market.

After all, if we do nothing and die poor, it’s our fault, isn’t it?

2) “My Philosophy Is That If I Have Any Money I Invest It In New Ventures And Not Have It Sitting Around.” – Richard Branson

R Branson

[Image Credits: http://www.businessinsider.sg/richard-branson-invests-in-3d-robotics-2014-9/#.Vis-As4VfFI]

That’s probably how Richard Branson not only ended up with a string of successful businesses under Virgin Group and an estimated net worth of USD5.1 billion, but also a reputation as a dare-devil entrepreneur – an incessant desire to keep doing awesome stuff.

Now, we may not have billions to spare but I am very sure that if we skip a good meal or two each month, we would have enough money to start something, such as setting up an online business (domain and hosting are not expensive, plus there are tons of free tutorials on the Internet if you look).

And if you are afraid of failing, let another quote of Richard Branson inspire you: “You don’t learn to walk by following rules. You learn by doing, and by falling over.”

Just do something and soon you will learn how to walk.

3) “Making Money Is Easy, Spending It Is Hard.” – Jack Ma

jack ma

[Image Credits: http://chinaglobalinsight.com/alibaba-just-another-record-breaking-chinese-ipo-or-window-on-dynamics-shaping-future-global-competition-2/]

Yes I know what you are thinking right now – the reverse of this statement probably makes more sense for most of us.

What Jack Ma means though, is about how to spend money wisely so that it can create the most long-term impact on society, which is in his view to invest in a system that creates more jobs and more wealth, rather than just donating to charitable organisations which may not currently have the infrastructure to effectively utilise the money to benefit people.

For the individual, we can use this perspective to think about how we can spend money wisely to create the most long-term impact on ourselves, for instance investing in ourselves via education (eg. short courses, events), experiences (eg. travel) and the like rather than on material possessions which only bring momentary satisfaction.

So, Bill Gates taught us to quit finding excuses and instead find various ways to make money, Richard Branson taught us to manage money by not letting it lie around but to put it in new ventures to create more baskets, while Jack Ma taught us to invest money for a long-term impact for ourselves and society.

I hope that these 3 business leaders gave you some food-for-thought but these are just the appetizers – I strongly encourage you to read more into their life and philosophy and start thinking about how to make money work for you, not the other way round.

Any money lesson you found useful? Share them with your friends!

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