How to Get Rich

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Never loan it to friends. You will lose your friend as well as your money. Give, but don't loan. Broadcast your policy loudly. So, take this with a grain of salt. But also understand if you use these principles for long enough, good things will happen. Find the balance of weakness in a negotiation. They’re usually hidden, but they determine the outcome. Go further than reading a person's references. It's such a pain, but it pays. Make an appointment with their last company or with a supplier's other customers. Go and see someone there. Get chatty. Listen hard. You will discover more about the person or supplier in a few minutes in this way than in hours of conversation with them.

Dennis acquired hundreds of millions of dollars before his death in 2009. He claims that he can’t teach you how to be Bill Gates or J.K. Rowling rich, but he can provide thoughts on acquiring more wealth than you know what to do with if you want it.It's usually better to leave no doubt in your visitor's mind if you're not interested in their project or idea. In a way, it's kinder, as well.

New or rapidly developing industries, whether glamorous or not, very often provide more opportunities to get rich than established sectors. Three reasons for this are availability of risk capital, ignorance, and the power of a rising tide. Many people, including Felix Dennis during a period of life in which he spent tens of millions of dollars chasing booze, girls, and drugs, make the mistake of thinking small and acting big. When this happens, you can spend a lot of money or waste a lot of your precious resources or relationships on a path that leads you to destruction, both for yourself and your wealth. Money is exactly like sex. You think of nothing else if you don't have it, and think of other things if you do. The determining factor in becoming rich, according to the ideas of the book, is to be the owner. Working for others, even at a high level, will rarely make you truly rich. To choose what to work in, marry your inclinations, aptitudes, and opportunities. Trial and error is the only way to find what you're good at.

Summary

They will tell you, if you listen, about the impossibility (not the foolishness) of trying to make yourself wealthy. In doing so, they drain confidence and optimism from you… Two cardinal fears rule their concern. Firstly, they fear that you are placing yourself in harm’s way—and, to them, that cannot be a good thing. Secondly, they fear that if you should succeed, you will expose their own timidity to the light of day.” Getting rich is a lonely undertaking. Most people you meet with have no interest in it. That’s why the internet is such an important tool to connect with those on the same path you are. Use it to keep up your confidence and remind yourself why you’re on the journey.

Never choose an important employee or a key supplier alone. Get others to interview them or talk to them as well, either with you or separately. The final choice must be yours alone.

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Venture capitalists, major investors and bankers all have their part to play in providing capital for individuals and start-up companies. But if it is at all possible, give me the fish over the sharks and dolphins every time. It may take a mite longer to get there, but you'll be far richer, or at very least happier in the long run.