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IT'S NEVER TOO LATE TO BUILD YOUR EMPIRE.

According to Forbes, there are 31 billionaires in the U.S. that are under 40 years of age. Now add to the equation, the numbers of millionaires all throughout the world, and there’s really no exact number because they’re being produced monthly. Now here’s a few more facts to consider:

 

– In the year 1900, there were only 5,000 millionaires in the United States. In 2000, there were more than five million. Before the Great Recession, there were 9.2 million households worth $1 million or more.

Only 20% of millionaires are retirees. Around 80% still go to work.

– Just 17% of millionaires or their spouses attended a private elementary or high school. However, 55% of millionaires’ children have attended/are attending private schools.

– Most modern American millionaires today (about 80%) are first-generation millionaires. Usually the fortune they build will dissipate by the second or third generation.

– Those with Russian ancestry have the highest concentration of millionaire households in America. The Scottish rank second and Hungarians rank third. English ancestry groups rank fourth. The Russian American millionaire group has approximately $1.1 trillion, or nearly 5% of all the personal wealth in America.

– Most American millionaires are manager-owners of businesses.
So does this have you motivated or depressed that you haven’t got your piece of the pie? Well here’s good news for all the late bloomers out there. Age is not a factor in creating your empire and it’s never too late. Take a look at a few of these folks who have built empires later in life.

Jeffery Brotman launched the bulk food warehouse Costco at the age 40 – that’s right – 40. I am sure you’ve heard plenty of people say that if you haven’t made it by 40, you probably won’t. Had Mr. Brotman believed that, we wouldn’t be shopping and saving in bulk at the ninth largest retailer in the world.

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But Mr. Brotman isn’t the only person to find true genius later in life. Henry Royce found his even later, founding the Rolls-Royce brand with partner Charles Rolls in 1904 at the age of 43.

Still not convinced? Sam Walton started the Walmart brand empire, also affectionately known as “Wally World” at the age of 44. In 2014 Walmart was named #19 on Forbes list of the world’s most valuable brands.

And the list goes on and on. In fact, there are more incredible examples included in the infographic featured here, which was created by information designer Anna Vital at startup organization Funders and Founders. You can peruse to find examples up to and including Charles Flint, who launched IBM at age 61, here.

So are you still thinking that you might be behind the curve ball in starting a new endeavor? Well you’re not and you’ve got plenty of time. Just go for it!

 

Featured photo credit: FundersandFounders/AnaVital via fundersandfounders.com

Featured tattoo in the header by Fernie Andrade

HUSTLE HARDER.

Love him or hate him, the man is doing something right. P Diddy is already worth an estimated 700 million dollars, and as he pushes for that billion dollar mark there’s no stopping the former talent agent. So as the first week of the New Year comes to a close, this video he released comes in good timing because if this doesn’t motivate you to get off up off your ass, then check your pulse…you might be dead.

There’s something in this world that you want so work for it. Whether it be the pursuit of money, happiness or health, you have to have your goals clearly defined and have tunnel vision till you get it. Life really is that simple. If you don’t like your job…quit. Think you can do it better? Then do it. All the answers you ever wanted are inside of you but it takes committed daily action to get there. So stop complaining, be passionate about what you do and make it happen.

3 THINGS WE AS ARTISTS CAN LEARN FROM DA VINCI

One of the greatest artists to have lived. One of the greatest inventors to create. Leonardo da Vinci could well be considered the Man’s man, the Renaissance Man, the one who could make everything you thought was impossible, possible. Although his likeness won’t be displayed in the halls of Athens, he is iconic when one considers his accomplishments. D’Vinci created the prototype for the car and helicopter; he was a sculptor, musician, painter, poet, writer, scientist, engineer, mathematician, geologist, botanist, biologist, cartographer, and author. Even more impressive is that he did this all without modern day amenities such as the Web and of course Google.

In essence, he was the definition of perseverance, determination and ultimately the quintessential example of a man who defined the term “limitless.” Here’s a few things Leonardo did that we could all learn from…

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ALIGN YOURSELF WITH THE RULING ELITE Born a bastard child of a poor farmer, Leonardo had no silver spoon. Yet rather than stick a flag on the grounds he was born, he took flight and chose to align himself with the movers and shakers of that time. So how did he do it? During his teens, he traveled to Florence where he befriended the biggest influencers in town and took an apprenticeship with the renowned studio of Andrea del Vercocchi. Soon thereafter, he out shined his mentor and by the age of 20 was accepted into the esteemed Painter’s Guild of Florence. In an instant, it added to his credibility while giving him an opportunity to align himself with some of the wealthiest and most influential folks in town.

ART IS NEVER FINISHED, ONLY ABANDONED  Da Vinci was once quoted as saying, “Art is never finished, only abandoned.” It’s a quote which resonates all throughout the world and it’s still relevant centuries later. For any artist, art defines their existence and in keeping true to code it’s a passion we should pursue, refine and reinvent each time we create a new piece. Long story short, progress cannot be made if we don’t fight for it. His quote is also testament to the fact that perfectionists never really finish their projects because they always see room for improvement.

REPETITION IS THE MOTHER OF LEARNING In his memoirs, Da Vinci had said something which makes absolute sense. So what did he say? He said, “The youth should first learn perspective, then the proportions of objects. Then he may copy from some good master, to accustom himself to fine forms. Then from nature, to confirm by practice the rules he has learnt. Then see for a time the works of various masters. Then get the habit of putting his art into practice and work.”

In short, he’s not telling you to be a copy cat, rather, he’s telling artists to continually practice. Within time, enough practice and repetition will make those strokes and fine lines second nature, and in turn it those movements will become an action instead of a thought.

HOW DRIVEN ARE YOU?

Drive is what gets you going, resilience is what keeps  you in the game, while persistence and practice is what elevates your skill set. But first you have to ask yourself how driven are you?

What drives you?

Drive is what pushes our boundaries. It’s what makes great artists greater, better businessmen the best and it’s what gets you up early and keeps you up till late. Yet every once in a while we question our work, doubt our existence and pollute our heads with negative thoughts. We start wondering if we’re good as people say, start comparing ourselves to others, and then wonder what the future holds. Yet sooner than later, those thoughts dissolve and soon enough we’re back on a mission, and we’re back on that mission because of our drive.

It’s a natural cycle that happens to the best of us, but all I can say is that  you need to surround yourself with the best in your business.

You need to have friends that aren’t afraid to tell you the truth. In any business, just like any friendship and sports, you don’t need fanboys and cheerleaders, you need team players that are there to assist, support and collectively help make the team win.

If you don’t have that. Then get it. In the mean time, there’s inspiration to found everywhere around us. Take a look around and see what inspires you, and if you’re too lazy then go to YouTube.

Take a look at this guy for example.  Alex Honnold is a world-renownd rock climber and after watching his video it made me realize that everyones has different expectations and goals, and his are way higher than mine – pun intended. After watching his video I was definitely inspired. Now don’t get me wrong, I’m not about to go climb a mountain, but he’s living proof that anything is possible so long as you’ve willing to commit – and in his case be a little insane.

Contributed by Gary Villa