Many Billionaires Have These Regrets in Life, and Most Likely You Will Too. Here’s How You Can Avoid Making The Same Mistakes

Business LoungeOctober 28, 2019

We may like to believe that being a billionaire means having done everything in life as perfectly as possible and having no regrets about the time that has passed because the present one is so blessed. But that is not true in the slightest. While billionaires can have whatever they want, even they have some regrets with respect to the decisions they have made over the course of their life.

The Opportunities Which Never Came Back

When it comes to the decision-making power of us human beings, there are certain imperfections which disallow us from making the best decision every single time.

Also, we like to weigh in all the options, and, if there exists a sizeable element of doubt about the outcome of a particular decision, either we go for it or we back out. For the rich, making a wrong decision means losing millions of dollars, and the probability of being wrong can also be high considering the time-bound nature of such decisions.

Tim Draper is now 61 years of age and worth approximately $1 billion

According to Tim Draper, who is a billionaire himself, such a thought process is exactly what disallowed his firm from pursuing an investment in Facebook back in the day when it had only $20 million in total value.

Now, Facebook is worth billions of dollars, and although Draper is still rich, he still regrets not having made the decision to invest in it. According to him, we should not hesitate even for a second if we see a great opportunity in front of us.

Living In Another Time

Many of us like to think about the future and how it may turn out, and/or reminisce the past and wonder what life may have been like had we made a different decision altogether. This may sound like a harmless activity, but in reality, this disconnects us from the present time, thereby disrupting our focus.

Chip Wilson is very rich, but there are still a few things he believes he could’ve done differently in life

According to Chip Wilson, who is the founder of the company Lululemon, he used to experience consistent anxiety as he would think about the future and then worry how each and every one of his present actions is contributing to that future. Of course, eventually he became extremely rich, but Wilson now regrets not having acknowledged every day of his life as a blessing.

Taking Their Time

Naveen Jain is a well-renowned entrepreneur in the tech space

One of the most common fears that exist within all of us is the fear of starting something new. In the case of Naveen Jain, who was a billionaire at one point in his life, he seems to have taken his time with starting off his own company called InfoSpace.

But, according to him, had he made the same decision during his 20s instead of his 30s, he would probably have been more successful as cumulatively he would have gained more experience. The advice here is this: while it may seem like you need to sort out each and every detail of your business regardless of how much time it is taking, the best thing to do is to start it as soon as possible.