Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,753 members, 7,817,083 topics. Date: Saturday, 04 May 2024 at 04:01 AM

What Do Millionaires See That Others Don't? - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / What Do Millionaires See That Others Don't? (21049 Views)

Why Do Some Startup Become Successful And Well-known And Others Don't? / 100+ Habits Of Successful Entreprenuers That Others Don't Have *must Read* / Nigerian Millionaires On The Rise (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

What Do Millionaires See That Others Don't? by Nobody: 9:47pm On Sep 25, 2013
This is an effective question with yearnings for attention. But unfortunately only a very few people take their time to ponder over such a question.

So, what do millionaires see that others don't?

cool
Re: What Do Millionaires See That Others Don't? by Nobody: 9:51pm On Sep 25, 2013
Very good question. For me i think the burning desire to succeed and an ability to pursue ones dreams oblivious of other people's input.

Many people have dreams but are ashamed, afraid, lack courage or will power to pursue it. Such a person will never attain his dreams. I tend to flog myself making me understand that the least thing i should do for myself is become a billionaire..

Millionaire is no longer the word unless you talk in dollars...

11 Likes

Re: What Do Millionaires See That Others Don't? by Timcy01(m): 9:56pm On Sep 25, 2013
I think they see what everybody sees however, the difference is that the poor see and complain while the rich see and utilize. My thoughts though.

6 Likes

Re: What Do Millionaires See That Others Don't? by stan4b(m): 10:41pm On Sep 25, 2013
A poor man sees obstacles,but,d rich man sees opportunity. Its all in d mind,change ur mindset,den u turn problems to opportunities.

22 Likes

Re: What Do Millionaires See That Others Don't? by webpower84: 8:46am On Sep 26, 2013
1billion dollars question! Well some rich men saw an opportunity in a problem but poor man, reverse may be the case

2 Likes

Re: What Do Millionaires See That Others Don't? by naijacutee(f): 7:31pm On Sep 26, 2013
Millionaires see opportunities where everyone else sees problems.

- For example, in the 90's everyone saw a problem in getting clean drinking water while about town. The filtered bottled water of the time (Ragolis) was expensive at N100+, and the "ice water" people sold for 1 Naira had no credibility. Someone saw a gap in between, and thought about treating water to make it drinkable, and selling it at an affordable rate of 5 Naira. A millionaire was born.

In the same way, where many see an ASUU strike, some will see opportunities for alternative teaching methods that can lead to successful careers. Where many see a phone battery problem, a few will see an opportunity for portable battery charging devices, and stations. Where many see a traffic problem, a few will see an opportunity for a home working solution that can be employed across businesses. Where many see a problem in the effort required to pound yam, a few would see an opportunity for an automated yam pounder.

62 Likes

Re: What Do Millionaires See That Others Don't? by Nobody: 8:45pm On Sep 26, 2013
Exactly!

Another perspective is that millionaires take calculated risk.

Millionaires get into the arena early, dominate it and exit when it get crowded and then look for a less competitive but profitable market.

I am pretty sure the man with 'pure water' innovation exited when it got crowded.

My late mother ones thought about the possibility of making beans cake(akara) without the rigorous routine of socking the beans in water but as dry powder.

She experimented it at home, milled the beans into powder, mixed with water and prepared the beans cake, which came out perfectly well.

Though this isn't very much popular at the moment, but she saw someone doing same thing after some months and if someone could perfect it well coupled with good marketing system, I see no reason why it wont sell.

Another example of the early bird strategy is the stock market. I read that Warren Buffet was shinning his shoe and the shoe shinner showed him 'hot' stocks to invest in. After he left, he knew the market was already over saturated(considering the fact that it's a highly speculative venture) which may eventually result in a crash. He sold all his stocks and exited the market and it crashed few weeks later.

This was a couple of decades ago before the last recession.

I smiled when I saw an 'okada' rider wanting to buy stocks through a stock broker. It only reminded me of the Warren's story. As usual, history repeated it self and we experienced another recession.

Warren Buffet also buy stocks of companies where people spend money heavily, such as health, drinks(eg coke) , companies that have stood the test of time over a 50-100 years.

When the stock market crashed last time was the best avenue to buy stocks at dead cheap prices... But people were selling out of panic.

What did Warren do? He was buying because people were selling. Now that America(and most part of the world) is out of recession, I bet the stocks are already in a bull trend. It's only a couple years before it get saturated again and just before then, Warren must have sold his stocks to buyers... He and some smart investors might just be the few(20 %) sellers selling to a large crowed of buyers (80%).


Millionaires Do The Opposit Of What The Crowd Do. cheesy 80/20 Rule

32 Likes

Re: What Do Millionaires See That Others Don't? by naijacutee(f): 8:57pm On Sep 26, 2013
This is so true! The problem is that in Nigeria, we are so risk averse. We would rather use the spare N5,000 to "treat ourselves" to fast food, so that we know we at least "ate the money" rather than know that we used it to test out something that no one had ever tested before. But as soon as someone takes the plunge and proves the venture successful, you see copycats everywhere. I don't know how many Nairaland clones have existed since inception.

11 Likes

Re: What Do Millionaires See That Others Don't? by nairamaverick(m): 9:11pm On Sep 26, 2013
Millionaire gets the sharpest and brightest of minds to work for them
They've learnt the art of putting money to work
They use idea to beget money not vice versa,not money to beget money

2 Likes

Re: What Do Millionaires See That Others Don't? by Nobody: 9:14pm On Sep 26, 2013
Copycat syndrome is ingrained in our DNA- hardly are there any innovation. E.G nairaland dot net . Check it out!

Sorry to say, but I feel most Nigerians aren't good at business. Many are so myopic that they tend to cut corners and jump the gun. Hence, they are rabid 'get-rich-quick' hunters, chasers of the next shinny object.

4 Likes

Re: What Do Millionaires See That Others Don't? by Nobody: 9:23pm On Sep 26, 2013
Please come again I don't get you
Re: What Do Millionaires See That Others Don't? by Big4wig(m): 9:24pm On Sep 26, 2013
yarning....awwwhh........pls pass dat eba wit ogbono soup

Re: What Do Millionaires See That Others Don't? by duality(m): 9:27pm On Sep 26, 2013
How many of you responding are presently millionaires.

14 Likes

Re: What Do Millionaires See That Others Don't? by richP: 9:28pm On Sep 26, 2013
they see tins like this shite and call it art
$121m down the drain

8 Likes

Re: What Do Millionaires See That Others Don't? by Jeezyy(m): 9:32pm On Sep 26, 2013
Unless the Lord builds a house the builder buildeth but in vain.....they always put God first, ask Robert Kiyosaki

8 Likes

Re: What Do Millionaires See That Others Don't? by 3ace(m): 9:34pm On Sep 26, 2013
I guess we are all saying same thing in a different way. Make I join my own in a different way too; a rich man sees the glass half full while a poor man sees it half empty.

5 Likes

Re: What Do Millionaires See That Others Don't? by Stegomiah: 9:34pm On Sep 26, 2013
naijacutee: Millionaires see opportunities where everyone else sees problems.

stan4b: A poor man sees obstacles,but,d rich man sees opportunity.

nairamaverick: Millionaire gets the sharpest and brightest of minds to work for them
They've learnt the art of putting money to work
They use idea to beget money not vice versa,not money to beget money

Are you guyz millionaires? If you know all this what's stopping you from becomming a millionaire? Millionaires are in the best position to answer the Op's question.

Not saying you are wrong though, but its like a blind man showing another blind man the way


2s£xy:
Exactly!

Another perspective is that millionaires take calculated risk.
Millionaires get into the arena early, dominate it and exit when it get crowded and then look for a less competitive but profitable market.

I am pretty sure the man with 'pure water' innovation exited when it got crowded.

My late mother ones thought about the possibility of making beans cake(akara) without the rigorous routine of socking the beans in water but as dry powder.

She experimented it at home, milled the beans into powder, mixed with water and prepared the beans cake, which came out perfectly well.

Though this isn't very much popular at the moment, but she saw someone doing same thing after some months and if someone could perfect it well coupled with good marketing system, I see no reason why it wont sell.

Another example of the early bird strategy is the stock market. I read that Warren Buffet was shinning his shoe and the shoe shinner showed him 'hot' stocks to invest in. After he left, he knew the market was already over saturated(considering the fact that it's a highly speculative venture) which may eventually result in a crash. He sold all his stocks and exited the market and it crashed few weeks later.

This was a couple of decades ago before the last recession.

I smiled when I saw an 'okada' rider wanting to buy stocks through a stock broker. It only reminded me of the Warren's story. As usual, history repeated it self and we experienced another recession.

Warren Buffet also buy stocks of companies where people spend money heavily, such as health, drinks(eg coke) , companies that have stood the test of time over a 50-100 years.

When the stock market crashed last time was the best avenue to buy stocks at dead cheap prices... But people were selling out of panic.

What did Warren do? He was buying because people were selling. Now that America(and most part of the world) is out of recession, I bet the stocks are already in a bull trend. It's only a couple years before it get saturated again and just before then, Warren must have sold his stocks of companies where people spend money heavily, such as health, drinks(eg coke) , companies that have stood the test of time over a 50-100 years.

When the stock market crashed last time was the best avenue to buy stocks at dead cheap prices... But people were selling out of panic.

What did Warren do? He was buying because people were selling. Now that America(and most part of the world) is out of recession, I bet the stocks are already in a bull trend. It's only a couple years before it get saturated again and just before then, Warren must have sold his stocks to buyers... He and some smart investors might just be the few(20 %) sellers selling to a large crowed of buyers (80%).


Millionaires Do The Opposit Of What The Crowd Do.  80/20 Rule

This same person[OP] asked us "what do millionaires see that others do not';Its obvious she already knows the answer to her questions, then why ask?

7 Likes

Re: What Do Millionaires See That Others Don't? by Ojobojo1(m): 9:35pm On Sep 26, 2013
Nice comments, a very important thing also is that millionaires never give up, in business there's profit and loss, sometimes u can lose all but itshouldnt stop you from investing again as u learn from ur mistakes. Also millionaires give up pleasures at d early stages in order to save and invest, when their mates r spending frivolously, they just do d most needed tinz and save d rest to invest.

9 Likes

Re: What Do Millionaires See That Others Don't? by Nobody: 9:35pm On Sep 26, 2013
@ naijacuttee & 2s£xy you couldn't have made any less valid point!
Bravo!
Re: What Do Millionaires See That Others Don't? by Chicolee(f): 9:35pm On Sep 26, 2013
I want to be a billionaire so f**king bad!
Re: What Do Millionaires See That Others Don't? by solid3(m): 9:35pm On Sep 26, 2013
They see themselves engaging 24000 people while u see ur self working for 24hrs

5 Likes

Re: What Do Millionaires See That Others Don't? by alienware(m): 9:36pm On Sep 26, 2013
They see green light were others see red .

1 Like

Re: What Do Millionaires See That Others Don't? by Wendyslim(f): 9:37pm On Sep 26, 2013
Dey see wat others see but dey have the ability to carry out dir heart desires easily than the poor
Re: What Do Millionaires See That Others Don't? by dheaven: 9:38pm On Sep 26, 2013
No matter how you plan if there is no Divine back up nothing for you.

4 Likes

Re: What Do Millionaires See That Others Don't? by Nobody: 9:39pm On Sep 26, 2013
Okay
Re: What Do Millionaires See That Others Don't? by pappilo(m): 9:39pm On Sep 26, 2013
If it was that easy, all of you posting advice here will be dollar millionaires too. Most of the times millionaires happen to be in the right place with the right product at the right time. If Sergei brin and Larry Page attended Ogun State university, there is every possibility that Yahoo would still be the search engine to beat as at today

4 Likes

Re: What Do Millionaires See That Others Don't? by pappilo(m): 9:40pm On Sep 26, 2013
Jeezyy: Unless the Lord builds a house the builder buildeth but in vain.....they always put God first, ask Robert Kiyosaki

Story. The top ten richest men in the world dont even go to church.

5 Likes

Re: What Do Millionaires See That Others Don't? by pappilo(m): 9:41pm On Sep 26, 2013
dheaven: No matter how you plan if there is no Divine back up nothing for you.

Opata yarns. Is it divine backup that made the owner of Playboy a millionaire?

6 Likes 1 Share

Re: What Do Millionaires See That Others Don't? by nickz(m): 9:42pm On Sep 26, 2013
VERY SIMPLE,THEY KNOW THE SECRET

Re: What Do Millionaires See That Others Don't? by Nobody: 9:43pm On Sep 26, 2013
They see millions of dollars in their bank account while non millionaires don't. Duh? grin

2 Likes

Re: What Do Millionaires See That Others Don't? by 3ace(m): 9:43pm On Sep 26, 2013
duality: How many of you responding are presently millionaires.
It doesn't matter. They could have millionaire friends.
Re: What Do Millionaires See That Others Don't? by Accipetex(m): 9:44pm On Sep 26, 2013
they alwayz view frontpage b4 odas nd comment.

2 Likes

(1) (2) (3) (4) (5) (Reply)

Fuel Scarcity Hits Amuwo Odofin; NNPC Filling Station(photos) / ‘Anyone Caught Abusing The Naira Will Face Jail Terms’ – CBN Warns Nigerians / Building Painting: Cost Of Painting House In Nigeria

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 39
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.