Book Review: How to get Rich - by Felix Dennis

Summary:

Honest to the point of being blunt. Part autobiography, part self-help. Funny, but not very politically correct.

Key points:

  • Anyone can become rich. The key is confidence and ambition. You need a thick skin, stamina, focus and to be prepared to be callous, selfish and unpleasant.
  • If I had my time again, knowing what I know today, I would make just enough to live comfortably ($60-$80M) as quickly as I could and then retire.
  • “Once begun, the job’s half-done.” The first step of getting started is the hardest.
  • If you are unwilling to fail, sometimes publicly, and even catastrophically, you stand very little chance of ever getting rich. If you cannot face up to your fear of failure, you will never be rich.
  • New or rapidly developing industries, whether glamorous or not, provide more opportunities to get rich
  • Great idea is a fallacy, it’s execution that counts.
  • Control costs very carefully.
  • There is no victory over customers.
  • Think big but act small.
  • Identify talent and do whatever you can to hire it, nurture it, reward it properly, and protect it from being poached.
  • Most people seek job security, job satisfaction, and power over others more than wealth.
  • Most negotiations are unnecessary.
  • Ownership means never having to waste time saying sorry that a business didn’t work out. It means not having to spend time trying to persuade your partner.
  • Time is the only thing we cannot replace, apart from our health and our lives.