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The Eight Secrets to Get Rich
Lessons from Felix Dennis,
a self-made man ranked in the top 100 of Britain's Wealthiest Individuals,
by becoming a Magazine Mogul which included founding MAXIM Magazine
//THREAD//
Lessons from Felix Dennis,
a self-made man ranked in the top 100 of Britain's Wealthiest Individuals,
by becoming a Magazine Mogul which included founding MAXIM Magazine
//THREAD//
1. Analyze your need. Desire is insufficient. Compulsion is mandatory.
In the quest to get rich a simple want is not enough. You must NEED to get rich. To change your life. Your wife's life. You child's life. Only this fanaticism can bring true wealth.
In the quest to get rich a simple want is not enough. You must NEED to get rich. To change your life. Your wife's life. You child's life. Only this fanaticism can bring true wealth.
2. Cut loose from negative influences. Never give in. Stay the course.
Everything good in life demands hard work. Becoming wealthy is no different. Do not accept naysayers or defeat. Blow past them with your perseverance.
Everything good in life demands hard work. Becoming wealthy is no different. Do not accept naysayers or defeat. Blow past them with your perseverance.
3. Ignore "great ideas". Concentrate on great execution.
An incalculable number of great ideas have gone to the grave. And some people worked so hard on a mediocre idea that they made it a wealthy idea out of sheer willpower.
An incalculable number of great ideas have gone to the grave. And some people worked so hard on a mediocre idea that they made it a wealthy idea out of sheer willpower.
4. Focus. Keep your eye on the ball marked "The Money is Here".
Do not be like the Magpie who collects every shiny object it sees, and ends up with a nest full of junk. Focus your efforts on one target, the one that will bring you wealth.
Do not be like the Magpie who collects every shiny object it sees, and ends up with a nest full of junk. Focus your efforts on one target, the one that will bring you wealth.
5. Hire smarter talent than you. Delegate. Share the annual pie.
When you scale & hire staff always select the most capable. To make them stay give them incentives they won't find elsewhere.
When you scale & hire staff always select the most capable. To make them stay give them incentives they won't find elsewhere.
6. Ownership is the real "secret". Hold on to every percentage point you can.
Giving out bonuses is smart, giving out shares is stupid. Keep control, and most importantly keep your assets, which are always evolving in their worth.
Giving out bonuses is smart, giving out shares is stupid. Keep control, and most importantly keep your assets, which are always evolving in their worth.
7. Sell before you need to, or when bored. Empty your mind when negotiating.
As an entrepreneur your companies aren't your babies, they're your tools for acquiring wealth. Never fall in love with a deal. There will always be other deals.
As an entrepreneur your companies aren't your babies, they're your tools for acquiring wealth. Never fall in love with a deal. There will always be other deals.
8. Fear nothing and no one. Get rich. Remember to give it all away.
"I am convinced that fear of failing in the eyes of the world is the single biggest impediment to amassing wealth" -Felix
Fail->Learn->Win or forever stay broke.
"I am convinced that fear of failing in the eyes of the world is the single biggest impediment to amassing wealth" -Felix
Fail->Learn->Win or forever stay broke.
If you enjoyed this thread and found some wisdom go ahead and give the top post a RT.
Also don't forget to check out "How to Get Rich" by Felix Dennis.
Also don't forget to check out "How to Get Rich" by Felix Dennis.
