3 Pieces of Advice for Aspiring Billionaires

They say money can’t buy happiness, but that doesn’t stop many of us from daydreaming about raking in the big bucks and living the life of a billionaire. As a small business owner, your first billion dollars can seem a long way away. However, following the advice of the entrepreneurs that came before you can give you the best chance of living the high life in the future.



Live Frugally until You Grow Your Wealth like Mark Cuban



Mark Cuban might splash around in his cash now, but the online media mogul and owner of the Dallas Mavericks wasn’t always so flush. The American entrepreneur, who has an estimated net worth of $3.2 billion according to Forbes, has encouraged aspiring billionaires to follow his example and live frugally while building a financial cushion. Cuban slept on the floor or the couch of an apartment he shared with friends and avoided credit card debt and unnecessary luxuries. By living on a shoestring budget, he eliminated financial worries from his life and could focus on achieving his career path.

Small Business Owners: Are You Looking After Your Money Carefully?

Money in the bank is everything to small businesses. If you don’t have enough cash, you will experience cash flow problems which could hold up some of your operations. You also need plenty of money to help the business grow and develop. Not only that, though, but it is also useful to have plenty in the bank if you ever hit a rocky patch.

But even though money it acutely important to small businesses, there are still some who aren’t looking after theirs as well as they should. Here are some of the ways various small businesses regularly put their money at risk.

Not Using an Accountant

Many business owners try and track their finances and file their own taxes on their own. This is especially the case for businesses that are only a couple of years’ old. However, if you don’t have any financial experience, this can very quickly go wrong. It is always best to have an accountant from the outset. That way, they can keep you on track, and you can be confident that you aren’t going to be fined for getting your taxes wrong!