How To Get Rich: Some Of My Views

I have read How To Get Rich by Felix Dennis three times. It genuinely is that excellent of a book. In it, Felix Dennis, founder of Maxim Magazine and one of the most wealthy men in England tells you how to get rich. I believe that it really is a intriguing book due to the fact it was written by someone who in fact walks the walk. It was published by a man who made and spent a fortune, instead of an individual who had no money until they created it by promoting their books on how to get rich.

So here are a couple of of my thoughts on what I figured out from the book. The most vital thing would be to determine if you absolutely have to get rich. Do you have an uncontrollable motivation to get rich or merely wish to get rich? Should you just desire to get rich, it is best to not bother trying.

Getting rich is not an impossible process, but you will find that numerous sacrifices that have to be made to become rich. If you are not obsessed with getting rich, the sacrifices that are needed aren’t worth it. Moreover, without a compulsion to get rich, you’ll likely fail, and in the event you fail you will have neither the consolation of being rich, nor the human relationships along with other joys of life that you have sacrificed on your futile quest.

The second point that I learned is that you should focus on new or unpleasant sectors to get rich in. It is feasible to get rich in existing sectors but it really is harder. It is significantly less complicated to raise funds in an business that looks like it has loads of potential than in one that is stable. Unpleasant industries are also great simply because they suffer much less from competition. How many people wish to haul trash or radioactive waste? You can charge an arm and a leg for stuff that ordinary folks do not want to do.

Finally, focus on possessing the entire corporation lock, stock and barrel. You do not want a portion of the pie; you want the entire pie if at all feasible. Pay your best staff well, but retain ownership. Minority shareholders can become a thorn within your side, and should you ever lose your managing interest, you are no longer in control of your company. This is not a place you would like to be in.

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