Book Review > How to be a Billionaire

This book is both very easy to read and very informative even if you have no wish to be a billionaire. The book provides profiles of two or three American billionaires for each of the strategies identified as being a key to success. Some of the better known billionaires and their strategy are:
· Sam Walton - Do Business in a New Way;
· Bill Gates - Dominate Your Market;
· Warren Buffett - Buy Low;
· Richard Branson - Outmanage the Competition
Each chapter gives a profile of the person and shows not only their successes but also their failures.
The key strategies seem to be:
- take monumental risks;
- do business in a new way;
- dominate your market;
- consolidate an industry;
- buy low;
- thrive on deals;
- outmanage the competition;
- invest in political influence; and
- resist the unions.

The key principles are:
- keep on growing;
- rules are breakable;
- copying pays better than innovating;
- keep the backdoor open;
- pursue the money on ideas;
- hold onto your equity;
- frugality pays;
- hard work is essential;
- develop a thick skin;
- use financial leverage;
- enjoy the pursuit and
- make mistakes and learn from them.
The book also covers issues such as "How Important is Chosing an Industry?" and concludes that in general, one must chose a growth industry. I'm not sure that any book can be a recipe for being a billionaire, however, the book gives a good idea of the skills, and sometime luck, that one requires.
All in all a very enjoyable read, even if you have no wish to be a billionaire.