Posted 20 hours ago

How to Get Rich

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Although of course in this case the book is focusing on Felix's business endeavours rather than his personal life, but it's written in a very UN stuffy straight from the hip way with great insight to the mentality to the feelings and desires of the author. We have all met deeply unhappy souls muddling along in professions or careers for which they are patently unsuited. In fact, he gives his example how he got rich through magazines industry which he was/is in but did not give any tip to HOW TO GET RICH but he definitely gives tips on HOW TO REMAIN RICH. The opening chapters were rather on the folksy side, making me wonder if there was going to be any really useful information in this book or if it was going to turn out to be just another rich man's vanity project. More men and women have become rich by this single tactic than all “the best-laid plans of mice and men” guided by plodding strategy.

I decided to give this one a try, however, since it was written by Felix Dennis, a man who had the foresight to purchase a major stake in the crack-like news periodical The Week, hands down my favorite magazine of all time. He has a very clear-eyed view of his subsequent journey to multi-millionaire status, and shares valuable insight about both the things he did right and the things he did wrong.In addition, the combination of ignorance and misconception that surrounds any new market or technology works in your favor. Those who are prepared to analyze the risk, to bear the humiliation and to act in deadly earnest—these are the “lucky” ones who will find themselves, when the music stops, holding a potful of money.

He has written several volumes of poetry that have been performed live onstage by the Royal Shakespeare Company. On Page 73 is a great bit of business wisdom which is a simple as it is obvious and is great pure practical advice. The folly, on the other hand, often takes the shape of a peculiar affliction, known colloquially as the “it wasn’t invented here” syndrome. Not so thick as to blind you to well-constructed criticism and advice, especially from those you trust.Firstly, they fear that you are placing yourself in harm’s way—and, to them, that cannot be a good thing. But hey, if someone who made more than 500 million dollars from scratch gives me advice on how to get rich, I can ignore the condescension. But the heart of the book is in one injunction - applicable whether you are creator (like him) or creative (like GoodReads people) - face fear and make it work for you.

If you are young and reading this then I ask you to remember just this: you are richer than anyone older than you, and far richer than those who are much older. Perhaps, if I am lucky enough to become old, I will accumulate something else: the courage to give it all away before I die. New or rapidly developing industries, whether glamorous or not, very often provide more opportunities to get rich than established sectors. This last factor is crucial, because the ability to live with and embrace risk is what sets apart the financial winners and losers in the world. That’s why so many rich people end up with rocky marriages, regrets about spending so little time with their children, and the loss of important friendships.To get the most out of this book you have to believe in its author but it contains a few important contradictions of itself. Conventional wisdom daunts initiative and offers far too many convenient reasons for inaction, especially for those with a great deal to lose. Month after month I soldiered on, while “the new ploughed fields smelt dank as the grave; and I wished I were dead. Another example is, treating the journey to higher finance as if it's a game and to have fun, while at the same time being obsessed with winning and constantly strategizing. But sniggering and mockery prior to any attempt to better yourself financially, followed by envy later, or gloating during your initial failures—these are three certainties in life.

As soon as Dennis started getting into the meat of his material, however, I began to sit up and take notice.

Don’t take grand risks or try to do anything heroic when the best path is to act small toward your big dream. Real negotiations are about deals and partnerships that change everything and that can make you very rich in the process.

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