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How to Make Money: The 88 Steps to Get Rich and Find Success
Felix Dennis is one of Britain's wealthiest self-made entrepreneurs with an estimated fortune of $500 million. And he didn't get there simply by reading about how to get rich. He went out and did it.
Appreciating that those intent on becoming rich will not have the time or inclination to read page upon page of guidance and advice on the subject, Felix Dennis has reduced his own business wisdom to 88 tenets of wealth-generation, all written in his inimitable style.
How to Make Money is for those determined to get rich, for those who will not confuse reading with doing, for those who seek the narrow road. (First published in hardback as 88 The Narrow Road.)
Appreciating that those intent on becoming rich will not have the time or inclination to read page upon page of guidance and advice on the subject, Felix Dennis has reduced his own business wisdom to 88 tenets of wealth-generation, all written in his inimitable style.
How to Make Money is for those determined to get rich, for those who will not confuse reading with doing, for those who seek the narrow road. (First published in hardback as 88 The Narrow Road.)
Paperback
First published February 1, 2010
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About the author
Felix Dennis
32 books143 followersFelix Dennis (born 1947 in Kingston-upon-Thames, United Kingdom) was a British magazine publisher and philanthropist. His privately owned company, Dennis Publishing, pioneered computer and hobbyist magazine publishing in the United Kingdom. In more recent times the company has added lifestyle titles such as its flagship brand The Week, which is published in Britain, the United States and Australia.
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February 20, 2013
قرأت مؤخرا أحد الكتب "الطريق الضيق" لفيلكس دينيس وهو شاعر و كاتب إنجليزي و أعجبني فيه عدة أفكار. سآخذ منهم ثلاثة في عجالة:
1. عن الفكرة الرائعة
الفكرة الرائعة اسطورة ولا قيمة لها بدون التنفيذ. تذكر دائما أن حذاء Nike الشهير هو حذاء رياضي رائع, ولكن وحده العداء الجيد هو الذي يتمكن من الفوز بالسباق, الحذاء يساعده. في الأخير الفائز هو العداء وليس حذاء Nike
و عليه فإن أي فكرة تستمد قوتها من التنفيذ بالأساس.
2. فكرة الملكية
الإنسان وحده من دون المخلوقات أميل للامتلاك. الحيوانات تدافع عن مسكنها, عن كهوفها, عن عشها... و كفى. وحده الانسان يحب امتلاك المنزل و الأرض و الجبل و البحيرة... و أحيانا كثيرة ما في باطن الأرض أيضا. على أن المالك الحقيقي هو "المنتفع". يقول مثلا: أنا أملك فيلا كبيرة كمصيف, ولكن المالك الحقيقي لها هو من له حق الانتفاع:
Access
هو الجنايني الذي يرعاها وليس أنا. لأنه ينتفع بها كل يوم. و الخلاصة لا تحلم كثيرا بالتملك, ببساطة لأنك فقط تحتاج "الانتفاع" وهو مؤقت.
3. عن الحظ
الحظ هو تقابل الاستعداد و الفرصة. أي أنه الشيء الذي يأتيك بسبب استعدادك اصلا له. ويقول أن الحظ يساعد فقط... لو لم تضيع وقتك بحثا عنه!
في الأخير ينصح الكاتب كل شخص بالقول أنه يتعين عليك أن تشتري لنفسك نمر و تسميه ”أمبو“ من
Ambition
طموح, و أن تربط أمبو بكعبك أينما ذهبت. و تغذيه و تعمل على رعايته لأنه الوحيد القادر على حمايتك و الوحيد القادر على إنماء ثرواتك و قدراتك!
--أحمد عبد الحميد
_____________
_________
Even though, I would not recommend the book. But I found many interesting hints/tips/ideas from Felix! It's not a deep entrepreneurship theory book, nor a motivational book... it's a bunch of thoughts I would say. Some of them really sound like the "ownership idea" , the right time to change, when to hire, how far you can go in debt with your start-up.... .If you are traveling, It could be a nice companion!
I quote from his tips the following:
Tip2:
You have no execused for not being rich
Tip3:
Luck helps but only if you don't waste time seeking it
The answer to "Who is likely to succeed?", perhaps then, is this: not who want to, and not those who need to , or those who deserve to, but those who are utterly determined to...
Tip11:
If you are unwilling to fail, sometimes publicly, and even catastrophically, you will never be rich
Tip12:
Get yourself a tiger, call it "Ambo", keep him changed to your Ankle, feed him (Anbo == Ambition) (حيوانات ترافقني!)
Tip13:
If you have to spend x, do 10x in your head and decide!
Tip14:
The road to riches is a marathon, not a sprint
Tip15:
Obsessive monitoring and forecasting of cash levels cannot, of themselves, generate cash. But they can provide a start-up's owner with an early warning- one that may well make the difference between ruin and survival
Tip16:
If you have to hire someone @ x USD , he shall be able to create 10x revenues, with 10-20% more profit for you
Tip18:
You definitely need the talent of identify, hire, nurture others with talent
The six rules concerning talent: identify, hire, nurture, reward, protect... and when the time comes fire it.
T20:
On the right place and right time: This is the wrong book (it's now)
T21:
you must choose between seeking riches or seeking contentment. You may achieve neither, but you surely cannot seek both
T22:
You will never get rich working for your boss
T25:
Never trade share with working power
T26-27:
Stay away from Sharks/Dolphins (organizations with funds)
T37:
you are creating a pirate ship not an oil tanker!
T38:
The only sacred cow in your organization is you
T43:
On the Mexican shoot-out, if you are minority go for it, otherwise no
T44:
Fear is your greatest enemy
T45:
On the Fallacy of the great idea: Having a great idea is not enough, it is all about execution. Quote:"Good ideas are like Nike Sports shoes,. They may facilitate success for an athlete who posses them, but on their own they are nothing but an overpaid pair of sneakers. Sport shoes don't win races. Athletes do.
T49:
My words for his idea:
Unlike Animals, humans tend to posses/own riches. Animals may defend their nest/cave. But men would try to posses lakes/mountains/villas.
the real owner of the place, is the one that gets "access" to it... it's the Gardner not the wealthy guy!
T50:
Customers are the real boss.
T52: Negotiating: if in doubt walk out
T53: Prioritize then execute
T54:
Luck is what happens when preparation meets opportunity-- Seneca (a roman philosopher)
T57: You could have debt up to 25% of your revenues
T74: When going through hell, keep going -- Winston Churchill
T77: The best time to sell a business is when you don't have to
T85:
Perhaps it is better to be irresponsible and right, than to be responsible and wrong --Winston Churchill
If it's a good idea, do it. It's far easier to apologize than it is to get permission --USNR Rear-Admiral Grace Murray Hopper
April 7, 2013
This is basically the short version of his first book. Good, but a bit redundant.
December 18, 2017
A must-read for all entrepreneurs! These are the words of someone who truly understands the arduous journey that entrepreneurs have to travel; and trust me, there are few people who do. Most people in the world only see the Forbes magazine covers and billion-dollar company valuations and think the journey is easy. It's hard as hell! Mr Dennis (RIP) doesn't sugarcoat anything. This book is the real deal and full of real & valuable advice/wisdom. For this book, my advice is "read and read again. And when you think you've digested all the information, read again!" I haven't given a book a 5 star-rating in some time but this book is very deserving! I will read it again soon.
12/18/17 I followed my own advice and read the book again! I must say that after more life experience, this book was better and clearer the second time around.
12/18/17 I followed my own advice and read the book again! I must say that after more life experience, this book was better and clearer the second time around.
June 1, 2020
His book How to Get Rich is one of my favorite books on business and entrepreneurship. The Narrow Road doesn't disappoint. It's really well structured in 88 chapters so you could pick it up at any time and easily resume where you left off. The chapters are short and punchy. Some of these lessons took Felix Dennis millions of dollars and decades to learn so don't take them lightly. This is definitely a book that I will re-read a few times.
June 18, 2017
I am going to pull this one out from time to time. Felix drops a lot of truth bombs that other people are scared to say.
February 10, 2017
The tyranny of nature and nurture, so widely believed in by those around us, is a phantom and a delusion; excuses for inaction.
Your motives are your own, but to proceed without a clear and honest understanding of them is to invite disaster at a crucial moment (p.6); know your motive getting rich so you don't falter during a crucial moment (p.7).
The 3 valid reasons for not attempting to become rich are 1) I do not wish to be rich, 2)I would like to be rich but I have other priorities 3) I am too stupid to make the attempt (p.8)Most of the of the so-called reasons for not pursuing wealth are not reasons at all; they are excuses (p.9). Anyone in good health and of reasonable intelligence, provided they utterly commit themselves to the journey, can succeed on the narrow road (p.10)
Self-confidence can be acquired along the way, tenacity is an absolute requirement, and luck helps, but only if you do not waste time seeking it. The one who is likely to succeed is not the one who needs, wants, or deserves to, but is determined to (p.11).
Loose from working for others, except as a short-term reconnaissance expedition and in order to raise a fraction of the capital you will eventually require. And loose from naysayers because they can drain confidence and optimism from you (p.21).
Only a minute fraction are prepared to bear the humiliation of being made to look a fool (p.25). Being wealthy has to do with your capacity to accept the risk of being humiliated in the attempt, not just once, but many times, perhaps (p.26)If you are unwilling to fail, sometimes publicly, and even catastrophically, you will never be rich (p.27).
-If you stay too long working for others, you'll be rich.
For a start-up business: In the early days, everything possible should be lease or outsourced. Start-up capital is simply too precious to squander on physical purchases. Company cars will transport you down the road to ruin. Air travel on any class but economy is preposterous. Leaving lights,printers, computers, copiers, and the like on "Standby" overnight is plain stupid (p.32).
"The road to riches is a marathon, not a sprint."
"Life is not a rehearsal." (p.34)
Inner compulsion is mandatory in the getting of money. Either you have it or you do not. Wishing you had it is no substitute (p.35).
More start-ups are wrecked by over-staffing than by any other cause, bar failure to monitor cash flow (p.39).
Do not fall in love with any project. You may believe in it wholeheartedly, but must remain prepared to abandon it should it show signs of failing. (p.42)
Talent seeks the opportunity to excel. Anyone wishing to become rich cannot do so without talent, either their own or the talent of others. Talent is indispensable, although it is always replaceable. There are 6 rules concerning talent: identify it, hire it, nurture it, reward it, protect it from being poached. And when the time comes, fire it (p.44).
Fortune factors not just the brave but the bold. *The bolder the stroke,the better chance one has of confounding the odds (p.47).
Wealth is preferable to poverty, but not conducive to contentment(p.50).
The only people the self-made rich can trust are those they knew before they became wealthy (p.51).
Thus you must choose between seeking riches or seeking contentment. You may achieve neither, but you surely cannot seek both (p.52).
Working too long for others will serve to blunt your appetite for risk. And in risk lies the only sure path to riches (p.53). One is rarely permitted to hone the skills required by entrepreneurs while working for others (p.59).
No founder of a business who surrenders control in exchange for capital is ever likely to retrieve control of that business. Their financial destiny is in the hands of others and the entrepreneur has lost their way on the narrow road. The terms upon which capital is raised are crucial to the long-term goals of any entrepreneur dedicated to the getting of money. (p.61)
Better to labor as a wage slave than as a cash cow for a loan shark (p.62).
It is imperative to avoid a history of credit default (p.63).
Venture capitalists will do anything it takes to protect their investment in your business.
Your business must be clear and accurate, and must contain no wild assumptions concerning revenue generation (p.70). "Banks are easier to deal with when you have a history of precious loan repayments. Perhaps their only weakness is a horror of losing valuable custom to a rival bank." (p.71).
Very few entrepreneurs who accept 51% partner in a new venture will get rich if they also expected to run it (p.75).
"Stupid people are easy to hire but they will not add to your wealth, and in the early days, you should shun them like the plague." (p.78-79)
It is crucial for an owner to decide the degree of control he or she will exercise over other managers, and for those managers to understand and agree precisely where they stand and who will be reporting to whom. There can only be one captain of the ship. As the owner, you have right to set the destination of the ship, but not to give sailing orders once you appointed a Managing Director (MD). Any ship piloted by two captains will sink (p.84).
"Team spirit is for losers, financially speaking. It is the glue that binds losers together--a strategy used by employers to shackle useful employees to their desks" (p.92)
"A committee is a group of the unwilling, chosen from the unfit, to do the unnecessary" (p.96). In the beginning, it is you who must make the important decisions (p.98-99).
Most partnerships are created on the basis of three criteria:
1. Who is investing what capital into the project?
2. Who will be actively working on the project?
3. Who brings what value to the project?
"My advice, my earnest advice, is that you should attempt to establish yourself first, retaining as much control of any start-up acquisition as you can. Then, and only then, feel free to seek pastures a new with partners in the picture...Ideally, you should have something of your own to fall back upon should the partnership fail (p.100)
Anyone determined to create wealth from a standing start must make a pack with themselves to abandon the fear of failure. One cannot banish fear, but one can face it down, crush it, bury, padlock it in the deepest recesses of your heart and soul--and leave it there to rot. (p.105)
Fear of failing in the eyes of the world is the single biggest impediment to amassing wealth. "Trust me on this. It will cripple you. You must confront and harness it." (p.106).
Having a great idea is not enough. It is the manner in which ideas are executed that counts. Implementation will always trump ideas, however good those ideas are. (p.107)
By dressing in what some may consider an old-fashioned way, you show respect without exhibiting undue deference (p.109)
The getting of money is a game (p.114). Those who understand this and act upon that understanding have a far better chance on the narrow road than their neighbor (p.115).
To become rich you must be an owner. And you mus try to own it all (p.116). Never hand over a single share of anything you have acquired or created if you can help it. Not one share, no matter what the reason--unless you genuinely have to (p.117).
Hone your USP (unique selling proposition) to a razor-sharp instrument (p.120).
A supplier is not your "partner; "Getting rich is not about 'partnerships,' especially of that nature. This goes double for banks. You will find out just how close a 'partner' you are to your bank the first day you fail to make a repayment (p.122).
On Negotiations:
Detailed preparation is of inestimable value. Tenacity nearly always trumps eloquence. If in doubt, walk out. (p.124-125)
There is only one enemy. Time. Health, wealth, even love and affection can be reclaimed if all goes for the best; time never can. Time wasted can never be recaptured.
Time spent recharging your batteries and maintaining your physical and mental health is not wasted. It is a necessity. Time frittered away attending to tasks easily achieved but relatively inessential to your ultimate goal IS wasted. The most difficult or odious tasks are those that require tackling first (p.127).
"Waiting on Lady Luck is folly and 'if only' the saddest phrase in the language (p.129)
"Americans worship courtesy almost as much as they worship money." Courtesy can enhance efficiency. It is discourteous to accept cell phone calls while in meetings or to secretly fiddle with your phone at conferences. (p.133) It will not make you richer in and of itself, but i can certainly make you appear more formidable (p.134).
My own rule is to keep company dent, if at all possible, to less than 25% of annual revenues. In some years, far less (p.135). All balloon-type debts (repayment weighted to a huge repayment at the end of the cycle) should be avoided (p.136).
Ideas cannot be "owned" by anyone. You cannot trademark or patent or enjoy copyright in an idea. You can protect only the execution of that idea and, perhaps, its look and feel (p.138).
There are perils in sloppy delegation. Nor should one confuse delegation with abandonment. Absentee landlords rarely prosper (p.144).
You must go with your gut. After that, the managers and the bean counters and financial advisers can take over. But only afterward (p.146).
I do not believe anyone can be "improved" by buying and reading a book. They can be "improved," if that is the word, by their own actions (p.147).
Above all, avoid banging your head against the same piece of wall. The wall will not get any softer. Persistence is a virtue in the getting of money only when applied with intelligence, and wit the humility to accept that your strategy may be flawed (p.148).
Without self-belief, nothing can be accomplished. With it, nothing is impossible
"No one can make you feel inferior without your consent"(p.151).
Lead. Do not be led (p.153).
How do you become a leader? By not seeking all the glory (only the money!) your smarter employees earn. When you find yourself involved in serious negotiations with a great deal at stake, do not permit financial or legal advisers to call the shots (p.154).
Cashing out a little early in the getting of money is preferable to all-out war with a better-resourced enemy (p.156)
A young public company exists only to boost its share price (p.158).
Making time to sleep well, eat well, and take on occasional walk in the park is not slacking, not a betrayal of the cause (p.161).
One problem for start-up entrepreneurs is the tendency to treat what you create as a surrogate child. It becomes your "baby." This can prove savagely counterproductive because the world is constantly evolving and you must evolve with it--or perish (p.162).
"Repeat this each day: 'I am not in the business of pampering babies or protecting sacred cows, no matter how hard I worked to breed them. I am in the business of the getting of money'"(p.164).
This suggestion is not designed for the initial phase of a start-up. In the early days, one must concentrate upon weaving a single basket designed for a particular egg. You should focus as ifg your life depended upon that egg (p.165).
Ultimate Advice: 1) Ownership shall be half of the law 2) Doing an outstanding job shall be the other half (p.167).
Bad mouthing rivals is a sign of weakness (p.172). Go out of your way to praise rivals publicly when you can. Make it a habit to meet informally with a rivals' talent when you can (p.173).
Failing to accumulate a fortune on the narrow road is not a misfortune, it's just part of the game. Donning the mas of misfortune for the amusement of those around you or to elicit sympathy is a perilous activity (p.174).
A single day set aside to analyze your progress occasionally prudent (p.176)
Never fall in love with a deal. A deal is just a deal. No deal is a must-do deal (p.178).
The best time to sell a business is when you don't have to. The worst time is when you have little choice (p.179). Another right time to sell a business is when you're bored with it (p.180).
Just as much evil ha been done in the world with the best of intentions, so much good has resulted from the "evils" of capitalism in a mixed economy (p.183)
Do not be overly impressed by status in the getting of money. It is often decrepit (p.185)
Hire the best-qualified accountant or finance director you can afford, even before you can afford them. (p.186)
All money you take from your company must be paid as a salary, onus, a dividend, or the equivalent--and all such payments must be decided. The company's profits are the company's money. Despite being sole shareholder, if you take money out of the enterprise and do not declare it as salary, a bonus, or a dividend you can be accused of stealing from your own company (p.189).
Don't buy private yachts, airplanes, etc. (p.192).
One of the most important hires you will ever make, once you have earned a little money, is your personal financial adviser. The individual should work for you, not for your company (p.193).
"If it's a good idea, do it. It's far easier to apologize than it is to get permission" -USNR Rear-Admiral Grace Murray Hopper (p.196).
Keep things in perspective. This is not life or death; it's only money (p.199).
Your motives are your own, but to proceed without a clear and honest understanding of them is to invite disaster at a crucial moment (p.6); know your motive getting rich so you don't falter during a crucial moment (p.7).
The 3 valid reasons for not attempting to become rich are 1) I do not wish to be rich, 2)I would like to be rich but I have other priorities 3) I am too stupid to make the attempt (p.8)Most of the of the so-called reasons for not pursuing wealth are not reasons at all; they are excuses (p.9). Anyone in good health and of reasonable intelligence, provided they utterly commit themselves to the journey, can succeed on the narrow road (p.10)
Self-confidence can be acquired along the way, tenacity is an absolute requirement, and luck helps, but only if you do not waste time seeking it. The one who is likely to succeed is not the one who needs, wants, or deserves to, but is determined to (p.11).
Loose from working for others, except as a short-term reconnaissance expedition and in order to raise a fraction of the capital you will eventually require. And loose from naysayers because they can drain confidence and optimism from you (p.21).
Only a minute fraction are prepared to bear the humiliation of being made to look a fool (p.25). Being wealthy has to do with your capacity to accept the risk of being humiliated in the attempt, not just once, but many times, perhaps (p.26)If you are unwilling to fail, sometimes publicly, and even catastrophically, you will never be rich (p.27).
-If you stay too long working for others, you'll be rich.
For a start-up business: In the early days, everything possible should be lease or outsourced. Start-up capital is simply too precious to squander on physical purchases. Company cars will transport you down the road to ruin. Air travel on any class but economy is preposterous. Leaving lights,printers, computers, copiers, and the like on "Standby" overnight is plain stupid (p.32).
"The road to riches is a marathon, not a sprint."
"Life is not a rehearsal." (p.34)
Inner compulsion is mandatory in the getting of money. Either you have it or you do not. Wishing you had it is no substitute (p.35).
More start-ups are wrecked by over-staffing than by any other cause, bar failure to monitor cash flow (p.39).
Do not fall in love with any project. You may believe in it wholeheartedly, but must remain prepared to abandon it should it show signs of failing. (p.42)
Talent seeks the opportunity to excel. Anyone wishing to become rich cannot do so without talent, either their own or the talent of others. Talent is indispensable, although it is always replaceable. There are 6 rules concerning talent: identify it, hire it, nurture it, reward it, protect it from being poached. And when the time comes, fire it (p.44).
Fortune factors not just the brave but the bold. *The bolder the stroke,the better chance one has of confounding the odds (p.47).
Wealth is preferable to poverty, but not conducive to contentment(p.50).
The only people the self-made rich can trust are those they knew before they became wealthy (p.51).
Thus you must choose between seeking riches or seeking contentment. You may achieve neither, but you surely cannot seek both (p.52).
Working too long for others will serve to blunt your appetite for risk. And in risk lies the only sure path to riches (p.53). One is rarely permitted to hone the skills required by entrepreneurs while working for others (p.59).
No founder of a business who surrenders control in exchange for capital is ever likely to retrieve control of that business. Their financial destiny is in the hands of others and the entrepreneur has lost their way on the narrow road. The terms upon which capital is raised are crucial to the long-term goals of any entrepreneur dedicated to the getting of money. (p.61)
Better to labor as a wage slave than as a cash cow for a loan shark (p.62).
It is imperative to avoid a history of credit default (p.63).
Venture capitalists will do anything it takes to protect their investment in your business.
Your business must be clear and accurate, and must contain no wild assumptions concerning revenue generation (p.70). "Banks are easier to deal with when you have a history of precious loan repayments. Perhaps their only weakness is a horror of losing valuable custom to a rival bank." (p.71).
Very few entrepreneurs who accept 51% partner in a new venture will get rich if they also expected to run it (p.75).
"Stupid people are easy to hire but they will not add to your wealth, and in the early days, you should shun them like the plague." (p.78-79)
It is crucial for an owner to decide the degree of control he or she will exercise over other managers, and for those managers to understand and agree precisely where they stand and who will be reporting to whom. There can only be one captain of the ship. As the owner, you have right to set the destination of the ship, but not to give sailing orders once you appointed a Managing Director (MD). Any ship piloted by two captains will sink (p.84).
"Team spirit is for losers, financially speaking. It is the glue that binds losers together--a strategy used by employers to shackle useful employees to their desks" (p.92)
"A committee is a group of the unwilling, chosen from the unfit, to do the unnecessary" (p.96). In the beginning, it is you who must make the important decisions (p.98-99).
Most partnerships are created on the basis of three criteria:
1. Who is investing what capital into the project?
2. Who will be actively working on the project?
3. Who brings what value to the project?
"My advice, my earnest advice, is that you should attempt to establish yourself first, retaining as much control of any start-up acquisition as you can. Then, and only then, feel free to seek pastures a new with partners in the picture...Ideally, you should have something of your own to fall back upon should the partnership fail (p.100)
Anyone determined to create wealth from a standing start must make a pack with themselves to abandon the fear of failure. One cannot banish fear, but one can face it down, crush it, bury, padlock it in the deepest recesses of your heart and soul--and leave it there to rot. (p.105)
Fear of failing in the eyes of the world is the single biggest impediment to amassing wealth. "Trust me on this. It will cripple you. You must confront and harness it." (p.106).
Having a great idea is not enough. It is the manner in which ideas are executed that counts. Implementation will always trump ideas, however good those ideas are. (p.107)
By dressing in what some may consider an old-fashioned way, you show respect without exhibiting undue deference (p.109)
The getting of money is a game (p.114). Those who understand this and act upon that understanding have a far better chance on the narrow road than their neighbor (p.115).
To become rich you must be an owner. And you mus try to own it all (p.116). Never hand over a single share of anything you have acquired or created if you can help it. Not one share, no matter what the reason--unless you genuinely have to (p.117).
Hone your USP (unique selling proposition) to a razor-sharp instrument (p.120).
A supplier is not your "partner; "Getting rich is not about 'partnerships,' especially of that nature. This goes double for banks. You will find out just how close a 'partner' you are to your bank the first day you fail to make a repayment (p.122).
On Negotiations:
Detailed preparation is of inestimable value. Tenacity nearly always trumps eloquence. If in doubt, walk out. (p.124-125)
There is only one enemy. Time. Health, wealth, even love and affection can be reclaimed if all goes for the best; time never can. Time wasted can never be recaptured.
Time spent recharging your batteries and maintaining your physical and mental health is not wasted. It is a necessity. Time frittered away attending to tasks easily achieved but relatively inessential to your ultimate goal IS wasted. The most difficult or odious tasks are those that require tackling first (p.127).
"Waiting on Lady Luck is folly and 'if only' the saddest phrase in the language (p.129)
"Americans worship courtesy almost as much as they worship money." Courtesy can enhance efficiency. It is discourteous to accept cell phone calls while in meetings or to secretly fiddle with your phone at conferences. (p.133) It will not make you richer in and of itself, but i can certainly make you appear more formidable (p.134).
My own rule is to keep company dent, if at all possible, to less than 25% of annual revenues. In some years, far less (p.135). All balloon-type debts (repayment weighted to a huge repayment at the end of the cycle) should be avoided (p.136).
Ideas cannot be "owned" by anyone. You cannot trademark or patent or enjoy copyright in an idea. You can protect only the execution of that idea and, perhaps, its look and feel (p.138).
There are perils in sloppy delegation. Nor should one confuse delegation with abandonment. Absentee landlords rarely prosper (p.144).
You must go with your gut. After that, the managers and the bean counters and financial advisers can take over. But only afterward (p.146).
I do not believe anyone can be "improved" by buying and reading a book. They can be "improved," if that is the word, by their own actions (p.147).
Above all, avoid banging your head against the same piece of wall. The wall will not get any softer. Persistence is a virtue in the getting of money only when applied with intelligence, and wit the humility to accept that your strategy may be flawed (p.148).
Without self-belief, nothing can be accomplished. With it, nothing is impossible
"No one can make you feel inferior without your consent"(p.151).
Lead. Do not be led (p.153).
How do you become a leader? By not seeking all the glory (only the money!) your smarter employees earn. When you find yourself involved in serious negotiations with a great deal at stake, do not permit financial or legal advisers to call the shots (p.154).
Cashing out a little early in the getting of money is preferable to all-out war with a better-resourced enemy (p.156)
A young public company exists only to boost its share price (p.158).
Making time to sleep well, eat well, and take on occasional walk in the park is not slacking, not a betrayal of the cause (p.161).
One problem for start-up entrepreneurs is the tendency to treat what you create as a surrogate child. It becomes your "baby." This can prove savagely counterproductive because the world is constantly evolving and you must evolve with it--or perish (p.162).
"Repeat this each day: 'I am not in the business of pampering babies or protecting sacred cows, no matter how hard I worked to breed them. I am in the business of the getting of money'"(p.164).
This suggestion is not designed for the initial phase of a start-up. In the early days, one must concentrate upon weaving a single basket designed for a particular egg. You should focus as ifg your life depended upon that egg (p.165).
Ultimate Advice: 1) Ownership shall be half of the law 2) Doing an outstanding job shall be the other half (p.167).
Bad mouthing rivals is a sign of weakness (p.172). Go out of your way to praise rivals publicly when you can. Make it a habit to meet informally with a rivals' talent when you can (p.173).
Failing to accumulate a fortune on the narrow road is not a misfortune, it's just part of the game. Donning the mas of misfortune for the amusement of those around you or to elicit sympathy is a perilous activity (p.174).
A single day set aside to analyze your progress occasionally prudent (p.176)
Never fall in love with a deal. A deal is just a deal. No deal is a must-do deal (p.178).
The best time to sell a business is when you don't have to. The worst time is when you have little choice (p.179). Another right time to sell a business is when you're bored with it (p.180).
Just as much evil ha been done in the world with the best of intentions, so much good has resulted from the "evils" of capitalism in a mixed economy (p.183)
Do not be overly impressed by status in the getting of money. It is often decrepit (p.185)
Hire the best-qualified accountant or finance director you can afford, even before you can afford them. (p.186)
All money you take from your company must be paid as a salary, onus, a dividend, or the equivalent--and all such payments must be decided. The company's profits are the company's money. Despite being sole shareholder, if you take money out of the enterprise and do not declare it as salary, a bonus, or a dividend you can be accused of stealing from your own company (p.189).
Don't buy private yachts, airplanes, etc. (p.192).
One of the most important hires you will ever make, once you have earned a little money, is your personal financial adviser. The individual should work for you, not for your company (p.193).
"If it's a good idea, do it. It's far easier to apologize than it is to get permission" -USNR Rear-Admiral Grace Murray Hopper (p.196).
Keep things in perspective. This is not life or death; it's only money (p.199).
This entire review has been hidden because of spoilers.
December 30, 2014
Felix Dennis owned the publishing company that did Maxim, Stuff Magazine, Mental Floss, and more. This book is his take on owning businesses, and the biggest piece of advice is just that: own them, and protect your ownership. He's also a poet, and his felicity and fluency with language makes this much more than a dry book on business...it contains sound advice for whatever your endeavor may be. One thing he makes clear: if your goal is something that takes an awful lot of work, make sure it's what you really want first. Don't pursue one thing because you think it may help you get another; you'll just expend energy. First, get very clear about what it is you intend to do, and don't kid yourself that it will come without difficulty or that it will solve all your problems at once. This is coming from a guy with somewhere around $300 million.
December 14, 2016
خیلی از بخشهای این کتاب قبلا توی کتاب «چگونه ثروتمند شویم» از همین نویسنده اومده بود. اما اینجا فقط مسائل عملی و کاربردی کارآفرینی و کسب ثروت بیان شده و چرایی و فلسفه خیلی از مسائل حذف شدن.
صداقت نویسنده در بیان مسائلی که واقعیتهای نامطلوبی هستند و کسی تمایل به اشاره به اونها رو نداره، و همچنین زبان طنزش متن رو جذاب و خوندنی کرده.
کتاب کوتاه بود. شاید بیش از حد کوتاه.
صداقت نویسنده در بیان مسائلی که واقعیتهای نامطلوبی هستند و کسی تمایل به اشاره به اونها رو نداره، و همچنین زبان طنزش متن رو جذاب و خوندنی کرده.
کتاب کوتاه بود. شاید بیش از حد کوتاه.
April 28, 2011
Americans know Felix Dennis as the publisher of the famed Maxim magazine. Brits know Dennis as the successful entrepreneur and media mogul behind a host of publications at his Dennis Media outpost. As the author of last year’s best seller “How to be Rich,” readers the world over know Dennis as a man who knows the path to financial success through the tried and true lessons of the school of hard knocks.
Such is the case with his latest volume, “The Narrow Road.” In it, Dennis, much like the professor he resembles, gives a curriculum of lessons designed to educate the reader as to exactly what works and what doesn’t in the “getting of money.” Unlike a professor, Dennis’s knowledge and examples are gleaned from actually having to raise money in the dod-eart-dog realities of the real world.
Geared towards startups, but with many lessons applicable to all small business, the author explains in a series of very short chapters, his well-hewn philosophies as to what is important and what is not in terms that are at times, shockingly unvarnished and straight to the point. Dennis suffers no fools when he talks about overarching concepts like equity dilution, and debt to revenue ratios, while also offering abundant pronouncements on the psychology of being successful (i.e. dealing with fear, the need for arrogance, handling management, etc.)
The narrow road Dennis refers to is, of course, the road to success and while Dennis has had it with those who pontificate without the benefit of experience, he is quick to offer advise based on the bruises he has presumably accumulated in the workplace himself. On one hand, it would be nice if he elucidated more details backing his theories, bit one senses that he purposely keeps things short and to the point to make his lesson (they are almost commandments) come across as pithy but punchy, as only an egotistical, supremely confident Brit can do. Because when you get right down to it, that’s probably exactly what keeps him on the narrow road as well.
Such is the case with his latest volume, “The Narrow Road.” In it, Dennis, much like the professor he resembles, gives a curriculum of lessons designed to educate the reader as to exactly what works and what doesn’t in the “getting of money.” Unlike a professor, Dennis’s knowledge and examples are gleaned from actually having to raise money in the dod-eart-dog realities of the real world.
Geared towards startups, but with many lessons applicable to all small business, the author explains in a series of very short chapters, his well-hewn philosophies as to what is important and what is not in terms that are at times, shockingly unvarnished and straight to the point. Dennis suffers no fools when he talks about overarching concepts like equity dilution, and debt to revenue ratios, while also offering abundant pronouncements on the psychology of being successful (i.e. dealing with fear, the need for arrogance, handling management, etc.)
The narrow road Dennis refers to is, of course, the road to success and while Dennis has had it with those who pontificate without the benefit of experience, he is quick to offer advise based on the bruises he has presumably accumulated in the workplace himself. On one hand, it would be nice if he elucidated more details backing his theories, bit one senses that he purposely keeps things short and to the point to make his lesson (they are almost commandments) come across as pithy but punchy, as only an egotistical, supremely confident Brit can do. Because when you get right down to it, that’s probably exactly what keeps him on the narrow road as well.
June 24, 2022
If I could go back in time, I would have made my way over to meet the author, Felix Dennis. Here's another book, not too different from his first one How to Get Rich in terms of scope, but this particular one was written closer to his death, and he's a little more direct. Or cranky. I can't decide which, but both are excellent books no matter what.
He openly admits that his first book, How to Get Rich, was actually an attempt to talk people OUT of trying to do it, because for many it's simply not worth it. His wealth didn't come by a fly by night operation, and he's noted as being one of the most careful self-made millionaires in the late 2000s: he never lost ground each year, he was always going up in worth as calculated each year. (That's not even an achievement Warren Buffett was able to do).
I would recommend reading the first book, How to Get Rich before reading this one, since it's a little softer with the punches. This one is more of a follow-up in context to some of the thoughts he was likely having about being rich as his cancer was closing in on him. The world lost his genius that won't be recognized in our lifetime, but I'm of the belief he'll be re-discovered some time from now. It'll begin with his poetry, and then his work on wealth building will be put under examination. In the end, the author makes a clear and compelling case as to why, and why not, the pursuit of wealth should even be bothered with. Hooray for honesty!
He openly admits that his first book, How to Get Rich, was actually an attempt to talk people OUT of trying to do it, because for many it's simply not worth it. His wealth didn't come by a fly by night operation, and he's noted as being one of the most careful self-made millionaires in the late 2000s: he never lost ground each year, he was always going up in worth as calculated each year. (That's not even an achievement Warren Buffett was able to do).
I would recommend reading the first book, How to Get Rich before reading this one, since it's a little softer with the punches. This one is more of a follow-up in context to some of the thoughts he was likely having about being rich as his cancer was closing in on him. The world lost his genius that won't be recognized in our lifetime, but I'm of the belief he'll be re-discovered some time from now. It'll begin with his poetry, and then his work on wealth building will be put under examination. In the end, the author makes a clear and compelling case as to why, and why not, the pursuit of wealth should even be bothered with. Hooray for honesty!
May 25, 2011
Great book for the true entrepreneur... that wants to make some money!!
July 5, 2011
This book is great! Felix brings you up close and personal with the thoughts and actions one needs to be a successful entrepreneur.
January 28, 2017
Good, honest and concise advice about getting rich. Should have read this 20 years ago.
May 2, 2018
Muitos "patos" escrevem livros de como ficar rico sem ter nem um milhão na conta e nem terem escalado a dura montanha até o sucesso massivo.
Felix Dennis ao contrário já construiu um império no mercado de publicação de revistas antes de escrever seus livros sobre sucesso nos negócios e Ficar Rico.
Esse livro é acima de tudo, como construir riqueza atraves de um negócio que você é dono.
São 88 reflexões sobre obstaculos, princípios e desafios pessoais enfrentados por alguém que conseguiu sucesso e que é enfrentado por anlmbiciosos e loucos o suficiente para buscar o dinheiro que merecem.
É uma leitura rápida e direta ao ponto sobre o assunto que é tratado em cada capítulo.
Obrigado por essa obra Felix Dennis, descance paz
Felix Dennis ao contrário já construiu um império no mercado de publicação de revistas antes de escrever seus livros sobre sucesso nos negócios e Ficar Rico.
Esse livro é acima de tudo, como construir riqueza atraves de um negócio que você é dono.
São 88 reflexões sobre obstaculos, princípios e desafios pessoais enfrentados por alguém que conseguiu sucesso e que é enfrentado por anlmbiciosos e loucos o suficiente para buscar o dinheiro que merecem.
É uma leitura rápida e direta ao ponto sobre o assunto que é tratado em cada capítulo.
Obrigado por essa obra Felix Dennis, descance paz
June 27, 2019
I generally eschew this genre on money and entrepreneurship because it tends to be cheap and redundant advice. Felix Dennis is the exception. (As a side note: if you've read Felix Dennis' "How to Get Rich", this may seem somewhat redundant - but this book is more practical business advice than the first, which is more about the psychology of entrepreneurship). I love his humor and he is very honest in a way that may sometimes be less than what you'd like to hear... even if you need it. All in all, a great read.
February 11, 2021
Despite the impression given by the title (which it should be noted to anyone who hasn’t yet read it, is intentionally sarcastic) this is a great read.
For any entrepreneurs or those with entrepreneurial ambitions, it frames the overall outlook and approach to life you need to have or develop to really achieve what you suggest you want.
Accompanied by a lot of great financial advice, applicable in any business situation.
Well worth a read.
For any entrepreneurs or those with entrepreneurial ambitions, it frames the overall outlook and approach to life you need to have or develop to really achieve what you suggest you want.
Accompanied by a lot of great financial advice, applicable in any business situation.
Well worth a read.
Read
July 16, 2022A Must Read For Any Aspiring Entrepreneur
I read ‘How to Get Rich’ about 10 years ago (2012) and have listened to the audio book many, many times.
The format of this book is different with each chapter being much more concise. Whilst it’s very easy to read cover to cover you can just as easily dip in and out of this book when you’ve got five minutes and need some motivation.
Highly recommended.
Good luck and Godspeed you toady to greed!
I read ‘How to Get Rich’ about 10 years ago (2012) and have listened to the audio book many, many times.
The format of this book is different with each chapter being much more concise. Whilst it’s very easy to read cover to cover you can just as easily dip in and out of this book when you’ve got five minutes and need some motivation.
Highly recommended.
Good luck and Godspeed you toady to greed!
July 20, 2019
Another great book with slices of advice for entrepreneurs who want to make money with their ventures.
I like how raw and honest he is, and would recommend it to people interested in making their own business flourish.
I like how raw and honest he is, and would recommend it to people interested in making their own business flourish.
October 8, 2022
I finished reading this book on the plane.
The book was short and to the point. It was a short version of the authors “How To Get Rich”.
I will definitely re-read this book in the future and I would recommend this to anyone who’s serious about being wealthy.
The book was short and to the point. It was a short version of the authors “How To Get Rich”.
I will definitely re-read this book in the future and I would recommend this to anyone who’s serious about being wealthy.
February 8, 2023
A hit list of tips and reflections on Felix's journey on 'The Narrow Road' of getting money. Exhibiting uncanny self awareness, wit, and dry humor, Felix cautions those embarking on the narrow road, and details many pitfalls along the way. A fun read that doesn't take itself too seriously.
February 25, 2023
Coming from the previous book, this book is exactly what the title says : a brief and to the point advice from the author in short paragraphs for each topic.
This is one of the books which are worth rereading for the iteration and memorization of the core principles to be followed.
This is one of the books which are worth rereading for the iteration and memorization of the core principles to be followed.
April 1, 2023
Written by the late centimillionaire Felix Dennis, this quick read is filled with nuggets of politically incorrect business advice, with an emphasis on start-ups. Some of the advice reminded me of Machiavelli's The Prince.
August 10, 2017
Funny, interesting and brilliantly written. Nice short chapters that spark lots of thinking about your life and businesses as an entrepreneur.
December 14, 2017
super inspiring
democracy is fascism
capitalism ended slavery
trump2020
democracy is fascism
capitalism ended slavery
trump2020
August 1, 2019
He's an interesting dude. So are his views.
November 10, 2019
This book is summary of "How to Get Rich". Good to recall the most important concepts, but not that great as a standalone title.
September 5, 2020
More concise and in my opinion a great complement to his preceding book
October 30, 2020
Basically How to Get Rich (great book) distilled into lessons.
June 4, 2022
Quite good, practical insight into how business people think and operate. Realistic views of the world and the cost of wanting to becoming rich. Also has some practical entrepreneur best practices.
March 11, 2024
A wise book from a wise man
Displaying 1 - 30 of 52 reviews