It’s not uncommon for billionaires to have a long-term vision for their investments and businesses that extends well beyond the next few years. They often think in terms of decades rather than just short-term gains.
There are several reasons for this. First, many billionaires are focused on building a lasting legacy, and they see long-term planning as a way to ensure that their businesses and investments will continue to thrive for years to come. Second, they understand that some of the most profitable opportunities require significant upfront investment and time to develop, so they are willing to be patient and wait for the returns to materialize.
In terms of specific areas of interest for the next decade, this will likely vary depending on the individual billionaire and their particular interests and expertise. However, some general trends that are likely to shape the business landscape over the next decade include advancements in technology, the growth of emerging markets, and the continued shift towards sustainable and socially responsible investing.
There is an interview with Bernard Arnaud in which the journalist gives a summary of his achievements over the last 10 years and Bernard Arnaud cuts him off by telling him:
“I’ll tell you, what interests me most is the next decade…”
If you’re looking for a secret, here’s one: spend most of your time and energy solving problems that will impact the next 10 years rather than thinking about solving problems of the moment.
The biggest risk for an entrepreneur is to be overwhelmed by everyday problems to the point of no longer being able to think about the future of the company. This is why the main quality of a good manager is the ability to delegate the management of all issues that impact business in the short term.
That’s why I think it’s a very good thing that Elon Musk is leaving his post as CEO of Twitter now that he has given the company a goal and a trajectory to follow.
Bernard Arnaud is probably the person in the world who best masters this know-how. That’s why he was named Manager of the Year in 2020. Moreover, he says in the rest of the interview that his company is made up of entrepreneurs, so it is an entrepreneur manager above all who will manage the growth of each brand by following the direction he gives for the next decade.
Obviously, a small entrepreneur does not necessarily have the means to delegate everything, he must manage his business on a day-to-day basis. But I think it’s important to take time regularly to ask yourself where you’re going, and what you want to build. First of all, it gives meaning to your business, and giving meaning is the role of a good manager even if you do not achieve your goals.
I take the example of Musk, when he created SpaceX (which I think is his greatest accomplishment), he first started talking about his goal of going to Mars to attract talent (engineers and aerospace specialists) who were mostly close to The Mars Society, a non-profit organization of researchers who aspire to conquer Mars.
Even though what you achieve will likely be very far from your initial vision, it will have given you and your teams the energy to achieve something. This energy is essential to accomplish all the thankless but essential daily tasks that will move you forward.
Some Next-Decade Fields Which Make New Billionaires
It’s difficult to predict with certainty which fields will produce billionaires in the next decade, as it depends on a number of factors such as technological advancements, economic trends, and shifting consumer preferences. However, here are a few fields that could potentially produce billionaires in the next decade:
- Artificial intelligence (AI) and machine learning: As AI technology continues to improve, it is likely to have a significant impact on many industries, including healthcare, finance, and transportation. The development of AI-powered products and services could create new opportunities for entrepreneurs to build successful businesses.
2. Renewable energy: With increasing concerns about climate change, there is likely to be a growing demand for renewable energy sources such as solar and wind power. Entrepreneurs who can develop innovative solutions in this area could potentially become billionaires.
3. Space exploration and tourism: As private space companies like SpaceX and Blue Origin continue to make progress in space exploration, there is likely to be a growing interest in space tourism and other commercial applications of space technology. Entrepreneurs who can capitalize on these opportunities could potentially become very wealthy.
4. Healthcare technology: With an aging population and rising healthcare costs, there is a need for innovative healthcare technologies that can improve patient outcomes while reducing costs. Entrepreneurs who can develop solutions in this area could potentially build successful businesses.
5. E-commerce and digital payments: As more consumers shift to online shopping and digital payments, there is likely to be a growing demand for e-commerce platforms and payment processing services. Entrepreneurs who can build successful businesses in these areas could potentially become billionaires.
6. Forex and Digital currency trading: Forex alone has daily transactions of 7 trillion dollars and day-by-day digital currencies trading is increasing. These are the most powerful and potential fields to become the next billionaire.
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