Art of Discussing

Management Style of Bill Gates and Steve Jobs

The management style of both Bill gates and Steve Jobs is unique because they are very good in implementing high-quality ideas, and starts to work on those ideas and converting those ideas into a successful product. Secondly, the most important thing is that they decide to take any risks without any tensions and try very hard to reach their goal. MS-DOS for Microsoft would be a good example and Lisa and the page maker are the example for apple.

The management style of Steve jobs is too aggressive because of a forceful and demanding personality. Aspirations of Steve jobs are to place Apple and its merchandise at the front position in the information technology Industry. Modernization and style are the two key words that he used to set the trend in this global world.

Bill Gates happily performed both the roles of an executive which mean he participate in the development team as well as in management section. Before, Bill Gates was a software developer who always trying to develop new software using new technologies but slowly he push himself to the management role and he became a successful manger of his company. Under his management role, he tries to place the company long term goal at risks and trying to resolve all problems that are running in the business. The primary responsibility of the Bill Gates for the company is to take proper concentration on products strategies. He aggressively contributed in the company board range of products and he achieved a main position for Microsoft.
 
Leadership style of Bill Gates and Steve Jobs 
 
Bill gates always looking for the accomplishment of Microsoft and software industry and tries his best to make his dream true. He spend much of his time in meeting with the clients and also Staying in contact with the Microsoft employees around the world by email. Under his leadership, Microsoft’s mission is always to go forward and get better software skill by using new techniques, and to make a computer easier, more cost effective and more enjoyable for people so they can easily exploit and appreciate it. The leadership qualities of bill gates are a mix of dependable, delegate and participative. He always careful in his decisions, judgements and organize every aspects.

Steve jobs is a transformational leader, meaning he is ardent and excited about what he does, Steve Jobs always trying to inject energy and motivates his group members. He is a big example of encouraging leader, when he wrap the CEO from Pepsi by asking him, “Do you want to sell sugar water for the rest of your life, or do you want to change the world?” being moving means screening people the huge picture and helping them to see the outside a narrow hub and appreciate how their parts fits into the huge picture. He is one of the most amazing speakers in business America.

Art of Bargaining

Today I’d like to talk to you about the most important skill you can use to live a richer life.

Most people think they’re good at this skill, but in reality they make one simple mistake that ruins them.

What skill am I talking about?

Negotiating.

Most people botch major negotiations for one major reason.

John D. Rockefeller had a difficult childhood. His family bounced between poverty and comfort because his father was a con-artist. The elder Rockefeller traveled the countryside of upstate New York selling patent medicine which was often simply “snake-oil.” The Rockefellers didn’t exactly fit in where they lived in the small New York village.

Just like most small towns, everybody knew each other. Gossip and rumor spread like wildfire. And the village scorned Rockefeller’s father who they correctly thought was a snake-oil salesman. Whispers followed the family, they were excluded from social life and young John could not help but hear the vicious things the villagers said about his family.

Because they were ostracized, Rockefeller quickly developed a thick skin and a calm demeanor that helped him ignore the verbal barbs from the villagers who thought the sins of the father should blemish his son.

People commented on the boy’s almost Buddhist detachment from events that kept him from getting angry or flustered, even when his father committed the ultimate sin and abandoned their family.

Throughout his childhood, Rockefeller built a fortress of calm.

And this fortress served him on his journey to remarkable success. You see, when Rockefeller sat down to negotiate, it was impossible for people to emotionally manipulate him. Even when he sat in front of a hostile Congress who wanted to destroy the company he built, Rockefeller remained calm and composed during the crisis.
Nothing could faze him.

Now I’m going to show you how you can get calm like Rockefeller before you enter into any negotiation during your life. This could be buying a new car, trying to close on a house, or simply convincing your spouse to do something for you.

Most people, when faced with any negotiation, let their emotions rule. That’s the major mistake. If you let your emotions reign during a negotiation, I promise you will be crushed.

But it’s hard to remain calm especially when you’re trying to get something that you really want.

Think back to the last time you had a major negotiation. You probably felt nervous and anxious. You may have struggled to say the right thing without stammering. You may have felt clammy or even a little nauseous.

That’s okay. It’s normal to feel like that when the stakes are high. But you can work around those feelings using this simple Rockefeller trick.

When you enter a negotiation of any kind, before you start talking, take a moment of quiet to compose yourself. Be silent for a second. Don’t rush into things or tip your hand. Take a deep breath and enjoy the silence for a moment.

Rockefeller would enter a negotiation softly. He waited a moment before he said anything. If you follow his example, you will immediately feel calmer.

The worst thing you can do when negotiating is try to rush things.
Don’t forget that during your brief silence, the other person will feel just as uncomfortable as you.

After you collect your thoughts, compose your first sentence and speak it calmly and confidently. Don’t worry about moving fast. If you do rush, it immediately sends the signal that you’re nervous, scared and overwhelmed. That’s not the impression you want to make.

A calm tone and a slow pace is your friend here.

Later in his career, Rockefeller surprised people he met because he was so calm and genial, even during hostile negotiations. They expected that the king of the Robber Barons would bluster and rage. But he didn’t.

He simply stayed still.

And he spoke calmly, quietly and never rushed.

It’s a rule in negotiations that if you lose your cool then you won’t get the deal you want.

Stay calm and you’ll be just fine.

Beyond learning to stay calm, Rockefeller learned another valuable lesson early in his career: threats don’t work. Businessman lost their cool during a negotiation and made threats when things weren’t working in their favor. This destructive behavior almost always damaged the budding relationship and cost the bully dearly.

Threats ruin relationships. And a rich life and career is built on great relationships.

Machiavelli got it wrong when he said, “It’s better to be feared than loved.”

Rockefeller never made threats, even when he was the richest and most powerful business owner in the world. In fact, Rockefeller was happy to slightly overpay for things in order to maintain and build relationships.

Take these two valuable lessons from Rockefeller:

1. Take a moment before you start any negotiation to clear your mind and remain calm.

2. Don’t ever make threats. They don’t work long-term.

If you work on remaining calm during the negotiation, you’ll notice that you become more persuasive, more rational and more likely to get what you want. It’s one of the most valuable skills for living a rich life.

So keep calm and negotiate it.

Start today.

Do Billionaires Work Hard

The success of billionaires may be down to more than just hard work and good luck - they may also be smarter than most, according to a study.

About 45 per cent of billionaires are in the top one per cent for brainpower, says Jonathan Wai of Duke University.

He says that the top one per cent of wealthy people and the top one per cent for brainpower strongly overlap, reports CNBC.

That ranks them as smarter than US senators and federal judges, of whom 41 per cent are in the top one per cent for cognitive ability, and Fortune 500 CEOS at 38.6 per cent.

Only 21 per cent of the US House of Representatives were considered to be that smart.

However, the study only judges brainpower by whether someone attended one of 29 elite - and often expensive - American colleges, using the colleges' admissions criteria of high academic grades to decide if someone is intelligent.

The study found that 88 per cent of billionaires graduated from college, though a lack of degree did not get in the way of Facebook founder Mark Zuckerberg making his billions after dropping out of Harvard.

Among members of the Forbes 400 list of America's wealthiest people, Charles and David Koch, co-owners of Koch industries, took degrees at the Massachusetts Institute of Technology while investor Warren Buffett graduated from UPenn and Columbia.

New York mayor Michael Bloomberg has degrees from Johns Hopkins University and Harvard while Google founders Sergey Brin and Larry Page met as PhD students at Stanford.

Microsoft CEO Steve Ballmer went to Harvard while his boss Bill Gates dropped out of the same university, and Amazon found Jeff Bezo attended Princeton.

Those who made their fortunes through investments or technology were more likely to be in the top one per cent for brainpower than those who did from fashion and retail or food and drink.

Some 69 per cent of investment billionaires and 63 per cent of technology magnates are represented in the top one per cent, while only a quarter of fashion earners and 23 per cent of food and drink billionaires make the grade.

Billionaires Economic needs as a Family Man

A LESSON FROM A BILLIONAIRE PERSON WHO CREATED AN INNOVATION IN EUROPE  

One in 10 Europeans now living was supposedly conceived on an Ikea bed. The resulting babies are likely to sleep in an Ikea cot while their parents sit on Ikea sofas and eat off Ikea crockery which they store in Ikea cupboards. A third of all kitchens sold in France and Sweden are from Ikea. In Norway it’s half. Here in Britain we lag behind a bit but not much.

Last year with much of the world stuck in recession the Swedish furniture and homewares retailer delivered record annual net profits of £3.2billion. Sales in the 44 countries with Ikea stores grew by almost 10 per cent to a staggering £27.6billion.

All of which should add a satisfying element to the 87th birthday tomorrow of Ikea founder Ingvar Kamprad. But Mr Kamprad, a widower, does not go in for extravagances such as birthday parties. For despite featuring regularly in lists of the world’s richest billionaires, the man who persuaded the British to “chuck out the chintz” is notoriously careful with money.

He could easily afford a private jet but would rather fly economy class and preferably on a budget airline. Arriving at a gala to receive a Businessman Of The Year Award he was at first refused entry because he had come on the bus. At home he drove an ancient Volvo for years until he was persuaded that it was too dangerous.

Rather than dining in Michelin starred restaurants he likes to drop in to one of his stores for a cheap meal of his favourite Swedish meatballs. In cafeterias he swipes the little packets of salt and pepper to take home.

Admittedly he has lived in Switzerland as a tax exile since 1976. But his home is a modest bungalow and he assembled every stick of Ikea flatpack furniture in it himself.

He regards luxury not merely as an indulgence but almost as a sin. In his memoir Testament Of A Furniture Dealer he wrote: “We don’t need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and our will!”

Employees – although he prefers to call them “co-workers” – at Ikea HQ are told to use both sides of a sheet of paper and get a telling-off if they leave the lights on when leaving a room. Certainly anyone encountering him doing his shopping in the local market (always near closing time when vendors are more likely to drop their prices) dressed in his scruffy coat would assume he was just another elderly gent living on a tight budget rather than the fifth wealthiest entrepreneur in the world.

And that is just how Ingvar Kamprad likes it. Ever since he started his business in 1943 when he was just 17, he has controlled his own and his company’s public image with consummate skill.

He tells people he has many shortcomings, that he is slightly stupid. Yet he remains incredibly sharp and knowledgeable down to the smallest detail

This is not to say that he does not genuinely believe in frugal living. But it does mean that there is another side to the Ikea empire and its emperor.

In the Sixties he used to drive a Porsche and wore bespoke suits. The shabby jackets and snus – a Swedish chewing tobacco – came a decade later. In his book The Truth About Ikea published in 2010, Kamprad’s former executive assistant Johan Stenebo wrote: “He wanted to appear a man of the people, one of us.”

Thus we know about the modest Swiss bungalow but hear less about the large country estate in Sweden or the Provence vineyard which Kamprad also owns.

He has endeared himself with a self-deprecating, confessional style in the few interviews he has given, admitting his battle with alcohol which he says is unresolved but which he keeps “under control” by drying out three times a year. But Stenebo says that is only half the picture.

“Ingvar casts himself as the underdog, presenting himself to the world as a somewhat dim, alcoholic dyslexic. He tells people he has many shortcomings, that he is slightly stupid. Yet he remains incredibly sharp and knowledgeable down to the smallest detail. He will tell you in seconds how much Russian pine sawn on the spot, glued and then refined in Poland would cost in a Swedish store.”

Kamprad claims he became an alcoholic when he worked in Poland. But in 20 years of working with him Stenebo saw him drunk only once, at a party in 1995, and only later heard him mention alcoholism to journalists. “This soul-baring is disarming and ensures easy interviews.”

But Kamprad’s finest piece of image handling came in 1994 when it emerged he had joined the profascist New Sweden Movement in 1942 and remained a friend of its leader Per Engdahl into the Fifties.

In a letter to every Ikea employee Kamprad – whose grandparents were Germans from the Sudetenland – asked them to forgive what he termed “the greatest mistake of my life”. Hundreds of employees signed a letter which read: “We are here whenever you need us. The Ikea Family.” Though he was moved to tears Kamprad knew he had killed the damning story stone dead. Since then the company he named after his own initials plus those of the family farm (Elmtaryd) and his native village (Almhut) has grown into a giant with more than 80,000 co-workers. From modest beginnings with local mail order Ikea now serves 350 million customers a year. As with all good ideas the Ikea concept is simple: pass the job of putting furniture together on to the customer. It came to Kamprad when he took the legs off a table to make it fi t into a car.

It has made him rich beyond the dreams of avarice but as he himself might say: “Nobody ever got rich by wasting money.”

Start to save at an Earlier Age itself

Disciplined saving early in life will reap millions … literally!

As you approach adulthood and start to think about your future, are you really ready to be financially responsible for yourself? If you answered no, you’re not alone. The Jump$tart Coalition administered a basic financial literacy test to high school seniors, and less than half of the students correctly answered the questions. Another study found that over 75% of college students believe they are not ready to make smart financial decisions for themselves.

Pretty scary, isn’t it? If you think about it, most of your friends probably don’t know how to balance a checkbook. In fact, very few teens actually have a savings account or know what long-term investing means. Do you?

A 2009 Capital One survey discovered that 50% of teens wished they knew more about personal finances. Whether you have never stepped foot in a bank or you are actively saving and investing for your future, all it takes is a little effort and a lot of patience to become confident in your financial decisions.

Wish you were as wealthy as this guy? He's Mark Zuckerberg, co-founder of Facebook, and his super-geek-to-billionaire story is the basis of the hit movie The Social Network.

"Young people are just smarter," he told a Stanford University audience in 2007. He started Facebook from his Harvard dorm in 2004 as a sophomore. Now he's a 26-year-old philanthropist, recently donating $100 million to the Newark, N.J., school district.

Zuckerberg's youthful fame and fortune makes for a riveting tale. But across America every year, plenty of entrepreneurs make their first million under the age of 25, some in high school. It takes vision, smarts, determination and a little luck.

A Millionaire’s Best Friend

One awesome thing that you can take advantage of is compound interest. It may sound like an intimidating term, but it really isn’t once you know what it means. Here’s a little secret: compound interest is a millionaire’s best friend. It's really free money. Seriously. But don’t take our word for it. Just check out this story of Ben and Arthur to understand the power of compound interest.

Ben and Arthur were friends who grew up together. They both knew that they needed to start thinking about the future. At age 19, Ben decided to invest $2,000 every year for eight years. He picked investment funds that averaged a 12% interest rate. Then, at age 26, Ben stopped putting money into his investments. So he put a total of $16,000 into his investment funds.

Now Arthur didn’t start investing until age 27. Just like Ben, he put $2,000 into his investment funds every year until he turned 65. He got the same 12% interest rate as Ben, but he invested 23 more years than Ben did. So Arthur invested a total of $78,000 over 39 years.

When both Ben and Arthur turned 65, they decided to compare their investment accounts. Who do you think had more? Ben, with his total of $16,000 invested over eight years, or Arthur, who invested $78,000 over 39 years?

Believe it or not, Ben came out ahead … $700,000 ahead! Arthur had a total of $1,532,166, while Ben had a total of $2,288,996. How did he do it? Starting early is the key. He put in less money but started eight years earlier. That’s compound interest for you! It turns $16,000 into almost $2.3 million! Since Ben invested earlier, the interest kicked in sooner.

What You Can Do Now

The trick is to start as soon as possible. A survey by Charles Schwab found that 24% of teens believe that since they are young, saving money isn’t important. Looks like we just blew that theory out of the water! That same survey also discovered that only 22% of teens say they know how to invest money to make it grow. Why not change that stat and learn how to become a smart investor with your money? Talk to your parents or teachers about how to open up a long-term investment account so you can become a millionaire, too. And remember, waiting just means you make less money in the end. So get moving!

Want to learn more about how you and your friends can become millionaires? Check out Dave's tools just for teens!

What is the Billionaire Age ?

The concept of a billion dollars is pretty hard to fathom, which is okay because about 99.999% of us will never really have to deal with it. According to Forbes, the world has 1,011 billionaires out of nearly seven billion people, so it's not exactly an everyday occurrence. Those that do become billionaires seem to do it through a mixture of ingenuity, intelligence and timing, or they just inherit it. For the rest of us - those working average jobs, investing normally and living an average lifestyle - how long would it take to become a billionaire? Is it even possible?

World's Greatest Investors

If you're making around $50,000 per year, it won't take forever to amass a million dollars, and indeed, many people will be able to achieve that in their lifetime. But a billion dollars? That'd be 1,000 lifetimes, kind of. We'll check out a range of jobs in the U.S. and some typical investments to see how long it would take someone to become a billionaire. We'll be using the saving rate of 10% of someone's income for the year, which may be a little bit optimistic, but it gives a good picture of how long it takes to become a billionaire on an average joe's salary. (Are savings accounts your best bet when it comes to returns? Learn more in The 7 Best Places To Put Your Savings.)

Teaching Your Way To a Fortune

There are more than one million teachers in the U.S. according to the Bureau of Labor Statistics, and the mean salary for elementary and secondary school teachers is $55,210. If you're a teacher and are able to put aside 10% of your salary every year ($5,521) then it will take around 186 years for you to become a billionaire if you have your money in a long-term savings account paying 5% interest compounded annually. This means, if you start saving when you're fresh out of college and never touch the money, you could be a billionaire when you're 208!

If you invested in a more lucrative vehicle, like the stock market, you can become a billionaire much quicker. Looking at the returns of the Dow Jones over the past 40 years, there is an average return (CAGR) of 6.68% per year. If these returns are similar for the coming years, then the teacher who puts away 10% of his or her salary per month could become a billionaire in just 145 years. If you only wanted to become a millionaire, it would take you between 46 and 47 years in a 5% savings account and around 39 years if you followed the 6.68% returns of the Dow. (To learn more, see Index Investing: The Dow Jones Industrial Average.)

High Earners

It seems nearly impossible to become a billionaire making the salary of the average American teacher, but that's not really a surprise. How about if you're in a higher salary range, like a surgeon or another specialized doctor? An average anesthesiologist in the U.S. makes $211,750, according to the BLS, and if that anesthesiologist was able to put away 10% of his or her earnings every year into our savings account it would take around 160 years to become a billionaire.

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And if that anesthesiologist put their savings into an index that tracked the Dow, it would still take more than a lifetime at 124 years. With that kind of salary it seems like you just can't get there on hard work alone.

To give you more perspective, it would take a postal worker (mean salary $48,940) around 188-189 years to become a billionaire using a savings account, and 146-147 years investing in the market. It would take a lawyer (mean salary $129,020) 131-132 years to make a billion in the markets, and 168-169 to make a billion in a savings account. So, when you think of it, whether you're a lawyer, a teacher, a postal worker or a surgeon, the great equalizer is that you'll never be a billionaire.

Out of Reach?

So, who can become a billionaire? How much would you have to have on hand every year to invest and be a billionaire at a time where you could still spend it? If you could put away $1 million a year, you're still looking at about 80 years of saving or 64-65 years of investing before the big payoff. Even actors and athletes who can make millions a year, rarely have the staying power to make it every year for 80 years. (How much are the top sports pros making? Find out in Top 7 Pro Athlete Contracts.)

So, sorry to come to such a heartbreaking conclusion, but it's hard for anyone to become a billionaire using traditional methods. To see a billion dollars during your lifetime (40 years of saving), you would need to put nearly $5.5 million into a fund that mirrors the Dow's average growth of 6.68%.

Here’s How Long It Will Take For You to Hit the Forbes Billionaire List

The Forbes Rich List is out, and as we slice and dice the billionaires around the world, a few trends have emerged: the number of Chinese billionaires has doubled since last year; Moscow has more billionaires per capita than any other city; and 2010 was good to most really rich people! 648 billionaires saw an increase in wealth while only 160 saw decreases. { LA Times } Guess those gains had to come from somewhere.

What we really wanted to know though, is what gives you the best chance at making a future Forbes billionaire list, how long will it take to get there, and how stiff is the competition? Here are the number of billionaires in each industry tracked by Forbes, and the average age of the billionaires.

Industry	Number of Billionaires	Total Net Worth	Average Age
Automotive	18	$63.7 billion	64
Construction & Engineering	31	$76.6 billion	58
Diversified	83	$253.1 billion	60
Energy	91	$398.2 billion	59
Fashion and Retail	129	$628 billion	65
Finance	80	$215.8 billion	62
Food and Beverage	66	$210.5 billion	65
Gaming	14	$57.2 billion	67
Health care	57	$105.7 billion	61
Investments	139	$525.7 billion	62
Logistics	30	$94.4 billion	63
Manufacturing	87	$251.3 billion	61
Media	66	$244.2 billion	67
Metals & Mining	48	$335 billion	52
Real Estate	96	$305.1 billion	65
Service	49	$110.7 billion	67
Sports	17	$26.9 billion	66
Technology	89	$405.4 billion	52
Telecom	20	$137 billion	59

It’s worth noting that there is some overlap in categories, and some people who we might place in one category appear in another or more than one. For example, Peter Thiel is listed under investments, though we’d probably put him in the technology category. There’s also not a clean way to account for wealth inherited from family members, or divided among them. There are multiple Benettons who appear in the Fashion and Retail category individually, for example, but Gucci owner Francois Pinault’s family is grouped together even though multiple members of the family are billionaires.

That said, for the non-exact nature of figuring this out, if you don’t want to wait for your fortune it probably comes as no surprise that technology is your best bet and is tied for the lowest average billionaire age (thanks, Facebook billionaires) with metal and mining. So if it’s young money you’re after, pick up a mine or two while you wait for your social network or search engine to catch on. You’ll be making the other billionaires feel like slackers in no time.

That’s not where the biggest money is though. Perhaps surprising to some is that fashion and retail (which includes grocery stores), is the category that accounts for the most cumulative wealth. More than investments, more than finance and more than technology. Selling actual, physical stuff to consumers is still your best bet of making big money. Oh, and for those who noticed Sinaloa Cartel drug trafficking leader Joaquin Guzman Loera on the list? {Forbes} Stick to the legal, actual, physical stuff like fashion or food. Not only is the life expectancy better, in the long run so are the profits. You never know thought, maybe Loera’s diversified byblinging out weapons.

Now what if it’s easy (relatively speaking) wealth you’re after? Gaming has relatively few billionaires, and on average they’re kind of old. The amount of competition is relatively small, most will be retiring in general or retiring to that great casino in the sky, so this is a prime market to go after.

How to go after it? Well, that’s up to you and probably a bit of genetic fortune. If you missed out on being born into a dynasty, your next best bet is to marry into one. If that still doesn’t work, there’s always the do-it-yourself model. We’ll give you a few pointers on that once we appear on the list rather than doing the grunt work of analyzing it. Off to the single billionaires list it is then.

The Bottom Line

Though there are over 1,000 billionaires in the world, it's still an exceptional occurrence, and is owing to momentous business dealings, kick-starting an industry, inventing a much-desired service or concept, and other extraordinary events. For the rest of us, maybe we'll just have to make due with a million. (Depressed? Don't be. Check out our Millionaire Calculator to see how much you need to save to become a millionaire.)

Whom do Billionaires trust for Business

SIR ELTON John, Sting and Caroline Quentin are just a few celebrities who have lost substantial sums of money because of alleged failings by their financial advisers. So it should come as no surprise to learn that millionaires do not trust financial professionals and prefer to rely on the investment advice given in newspapers like this one.

In a survey of people worth more than £1 million, published last week by Tulip Financial Research, more than half of those questioned relied on their own judgment when making investment decisions, while only a tiny proportion - one in 10 - consulted a financial adviser.

And the most popular points of reference when making decisions were the weekend personal finance sections of the quality press, which were cited by 42 percent of respondents.

This will come as particularly depressing news for advisers, given the seemingly inexorable rise in the numbers of seriously rich. According to Merrill Lynch's latest World Wealth Report, volatile markets kept the number of new dollar-millionaires down to a relatively modest 180,000 last year. In the previous year, more than one million people had joined this no-longer-quite-so-exclusive club.

Wealthy people fall into five main categories. The most sophisticated are company executives who, with substantial tranches of share options, are well informed, highly connected and tend to rely heavily on their own judgment.

Similarly, entrepreneurs tend to be dynamic individuals who have clear ideas about how to manage their wealth. Having worked hard to create their millions, they are unwilling to risk a penny. Like the executives, they are also wary of traditional advisers.

Those with "old money" are the most likely to seek advice from financial professionals, sometimes using the same firms as their grandparents and great-grandparents.

The two categories most at risk of losing large sums because of substandard advice are the celebrity superstars, such as rock heroes, footballers and lottery winners.

According to David Poole of Singer & Friedlander, which specialises in advising wealthy people: "A small minority of crooked financial advisers have made many investors wary. There are some very good firms out there, but they tend to go quietly about their business and no one ever hears of them."

Private banks such as Coutts & Co, which looks after the finances of 40 per cent of the England football squad, have departments that specialise in different categories of wealth management for the super-rich. Similarly, the major accountancy firms and big high street banks offer top-of-the-range wealth management services.

As so much financial planning for millionaires revolves around trusts and other forms of tax planning, lawyers tend to work hand in hand with accountants to identify the best solutions. Farrers, which acts for the Queen, and Boodle Hatfield are considered the creme de la creme when it comes to managing "old" money. Withers and McFarlanes are the bees' knees for entrepreneurs. And Deloitte & Touche and Ernst & Young have made a name advising media and sports celebrities.

At the end of the day, the best advice for most multi-millionaires is to live abroad - something that most could probably work out for themselves.

10 Money Lessons from Billionaires

Billionaires have changed the way our world works. They’ve altered the way we communicate, travel, and live. And along the way, they have made incredible amounts of money for their efforts.

Learning from the 10 billionaires below is not only a good idea if you want to boost your bank account, but also if you want your work to make a difference.

With that in mind, here are 10 lessons from billionaires on earning money, succeeding in business, and finding happiness in life.

1. “You become what you believe. You are where you are today in your life based on everything you have believed.” —Oprah Winfrey, net worth of $2.7 billion

First and foremost, you have to believe that greatness is possible. Many of the world’s billionaires have shifted the way our world works, because they believed that they were capable of doing something that was previously impossible.

Change is possible. Greatness is possible. But you can’t do anything unless you first believe in yourself.

2. “What we say here every day is that our success is really based on our members' success, our community's success.” —Pierre Omidyar, net worth of $6.7 billion

Your success is directly tied to how much you do for others. It’s not what you know. It’s not who you know. It’s what you do for who you know. Success follows generosity.

3. “The typical human life seems to be quite unplanned, undirected, unlived, and unsavored. Only those who consciously think about the adventure of living as a matter of making choices among options, which they have found for themselves, ever establish real self-control and live their lives fully.” —Karl Albrecht, net worth of $25.4 billion

Everything you do (or choose not to do) is a choice. Most of us think that life happens to us, but in reality life is something that we choose either by actively pursuing options and creating our own circumstances, or by blocking opportunities and limiting our beliefs of what is possible.

You can choose the type of life you want to live.

4. “I think that our fundamental belief is that for us growth is a way of life and we have to grow at all times.” —Mukesh Ambani, net worth of $22.3 billion

Success is not an event—it’s a process. Billionaires embody that process better than most of us. They are on a constant quest to improve, enhance, and outperform themselves. It’s a constant, internal drive to become a better person.

5. “Getting the job done has been the basis for the success my company has achieved.” —Michael Bloomberg, net worth of $22 billion

Billionaires have grit and perseverance. Top performers work hard at hard things. And that means that successful people do the things that most people don’t want to do, and that’s why they get the job done.

6. “If I'm going to do something, I do it spectacularly or I don't do it at all.” —Prince Alwaleed Bin Talal Alsaud, net worth of $18 billion

Developing a world-class skill means that you have the capability to ignore everything else. You have to be able to focus on doing an incredible job or on ignoring it completely. Greatness doesn’t come from simply “putting the time in” … you have to put the time in with effort, energy, and resolve.

7. “It's through curiosity and looking at opportunities in new ways that we've always mapped our path at Dell. There's always an opportunity to make a difference.” —Michael Dell, net worth of $15.9 billion

Take a look at any market-leading company. Are they compromising on their product in one way or another? That’s an opportunity for disruption, growth, and change. Any unmet need, any annoying problem, any half-baked solution offers a chance to change things.

8. “The role of business is to produce goods and services that make people's lives better.” —Charles Koch, net worth of $25 billion

If your only goal is to become rich, then you’re going to have trouble meeting your goal. However, if your focus is on making people’s lives better, then you’ll find that success comes much more quickly.

9. “No person will make a great business who wants to do it all himself or get all the credit.” —Andrew Carnegie, net worth of $298.3 billion (in 2007 dollars)

Success unshared is failure. Our connections with other people are what give our work meaning. The things we do will only matter if they are shared with others.

10. “The ultimate definition of success is: you could lose everything that you have and truly be okay with it. Your happiness isn't based on external factors.” —Tony Hsieh, net worth of $840 million

So often, we push happiness out on the horizon of life. “Once I get this job, I’ll be happy.” Or, “If only I landed that promotion, then everything would be good.”

Of course, life doesn’t work that way, and there is always another goal once we reach our previous idea of happiness. Money is important, but your life should never be built around it.

Happiness comes before success, not after it.