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#413283
, staff wrote:">10 secrets of accidental millionaires

They may have stumbled across a million-dollar idea but their secrets to success are no accident at all.

Read on to find out how these 10 entrepreneurs turned their ideas into goldmines. The following key characteristics can make the difference between becoming a millionaire and having your idea fade into obscurity.


Edit: Won't post all of them, just a few that I found interesting.
Last edited by sagi58 on 19 Aug 14, 16:24, edited 1 time in total.
#413284
, staff wrote:">10 secrets of accidental millionaires

Mark Zuckerberg – Passion

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No one expected Mark Zuckerberg to strike it as big as he did with Facebook, least of all him. But today, the creator of the world’s most popular social media site is one of the richest people in the world, with an estimated net worth of over $33 billion. Though he may have stumbled upon a jewel by chance when he came up with Facebook, turning it into $33 billion was no accident at all.

In Ekaterina Walter’s book Think Like Zuck: Five Business Success Secrets from Mark Zuckerberg, the Facebook founder says that one of his secrets to success is passion. Although his company has grown exponentially and garnered the interest of many buyers, Zuckerberg has never entertained the idea of selling it. Why? Because he is truly passionate about it and that same passion is what helped him make Facebook the social media staple it is today. An incredible idea he stumbled upon may have gotten him started but it was his passion for his company that turned him into a billionaire.
#413285
, staff wrote:">10 secrets of accidental millionaires

Jonathan Duhamel – Practice

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At only 26-years-old, Quebec resident Jonathan Duhamel is already worth over $32 million. How did he get so rich? Duhamel is a professional poker player and is in fact, the first Canadian to win the Main Event World Series of Poker Bracelet. He also became the donor of the largest individual sum of money to the Montreal Canadiens Children’s Foundation when he gave $100,000 to the charity.

Duhamel possesses an important quality that led him to achieving millionaire status. Each day, when not at work, Duhamel played poker with friends and this regular practice helped him better understand the game. His huge winnings were not solely based on luck, but rather on good decisions made during the game and the ability to read other players well, which he learned through his diligent practice. In the end, those hours of self-training were certainly worth it.
#413287
, staff wrote:">10 secrets of accidental millionaires

Richard and Betty James – Determination

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Richard James, a former U.S. Naval officer, stumbled upon the idea for the Slinky by chance while working with tension springs. He felt it would make an interesting toy and his wife, Betty, came up with the name for it. The couple spent two years working on a prototype before releasing it at Gimbles toy store during the Christmas rush in 1945. They sold all 400 units they had made in less than 90 minutes, at $1 a piece.

Today, more than 250 million Slinkys have been sold, making the James family millionaires thanks to an accidental discovery. Though the couple did not expect to earn so much with their Slinky idea, they unknowingly set an example for the rest of us on how to be successful: don’t quit. The Jameses worked diligently to perfect their idea before releasing it and didn’t give up on it. The key to their unexpected success was pure determination.
#413289
, staff wrote:">10 secrets of accidental millionaires

Frank Epperson – Childhood imagination

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At just 11 years old, Frank Epperson made an accidental discovery that would become one of the world’s most popular treats: the Popsicle. Epperson accidentally left a cup of soda water with a stirring stick in it outside overnight when it was quite cold. The next day, he found his frozen treat.

When Epperson grew older and had children of his own, he started making the flavoured ice for them. It was such a hit that he eventually applied for a patent in 1923. Today, Popsicle earns millions upon millions of dollars every year all around the world. What was Frank Epperson’s secret to success? His childhood imagination. He never let it go and it’s what led him to patent his idea and market it, turning him into a millionaire.
#413290
, staff wrote:">10 secrets of accidental millionaires

Joseph McVicker – Keeping a secret

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Ever wondered who invented Play-Doh? It was Joseph McVicker in 1955. He and his brother-in-law were hired to work at McVicker’s father’s company. While working at the wallpaper cleaner and soap company, McVicker realized their wallpaper cleaner would make an excellent modelling clay. In no time, he saw that children loved it and McVicker started his own company, Rainbow Crafts Company Inc., a company devoted to the production of Play-Doh.

Since its inception, over 700 million pounds of Play-Doh has been sold all over the world. What was McVicker’s secret to success? He never revealed the ingredients list of his product to anyone and still today, the recipe remains a secret, known only by a handful of people. By sharing his idea but keeping one key aspect of it to himself, McVickers guaranteed his continued ownership of the brand, which turned him into a millionaire.
#413336
If you have over a million stuck in assets, does it count. Because then it's pretty easy I think.

To be liquid though.....:scratchchin: geets startup business is the most promising thing I've heard from the forum so far.
#413338
If you have over a million stuck in assets, does it count. Because then it's pretty easy I think.

To be liquid though.....:scratchchin: geets startup business is the most promising thing I've heard from the forum so far.


Pretty much anyone that owns a reasonable home probably has a mil there, so perhaps its more meaningful if you have a mil in cash.
#413343
If you have over a million stuck in assets, does it count. Because then it's pretty easy I think.

To be liquid though.....:scratchchin: geets startup business is the most promising thing I've heard from the forum so far.


Pretty much anyone that owns a reasonable home probably has a mil there, so perhaps its more meaningful if you have a mil in cash.


Wrong...if you're living in it, its a liability not an asset. You might have a loan/tax/repairs/etc commitment with something that isn't generating cash for you. Which is why I rent...and choose not to live in units I own. It's just rent and utilities, landlord takes care of the rest.

However, if you're living in a property but own a few others which will nett you over a mill if you dispose of them, those count as assets.
#413344
If you have over a million stuck in assets, does it count. Because then it's pretty easy I think.

To be liquid though.....:scratchchin: geets startup business is the most promising thing I've heard from the forum so far.


Pretty much anyone that owns a reasonable home probably has a mil there, so perhaps its more meaningful if you have a mil in cash.


What kind of houses do you live in?!?
#413345
Don't most houses in prime areas cost almost a million anyway...no matter how sh!tty they are? I heard in London you'd be lucky to get a 6 figure (decent to live in) landed property.

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