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Book of the Week:
How to Get Rich by Felix Dennis
Exciting book of the week my friend, How to Get Rich by Felix Dennis is one of my top ten books of all time.
Leave Your Hangups at the Door
Some people, just by reading the title of this blog post, will immediately have resistance as they think studying How to Get Rich is evil or something, I encourage you to understand that poverty isn’t serving or uplifting anyone and by studying the tactics of becoming rich, abundant, you WILL have the possibility of helping more people and exploring more of what this amazing world has to offer. For more information on this, you can check out my post called The Energy of Money. (it’s one of my favorite posts)
Who is Felix Dennis?
Felix Dennis has a net worth of between 400 and 900 million (quite a gap huh? but what’s a few hundred million amongst friends?) and he made his money mainly through magazines. Even though you may not have heard of him, you have probably heard of some of the magazines he has started such as Personal Computer World, MacUser, Computer Shopper, PC World, Maxim, Blender, Stuff, and The Week.
Why is This my Book of the Week?
First of all, the book is certainly not prim and proper, I don’t condone his behavior but his thought process is definitely worth taking the time to read. How to get rich is a candid, real, guide to becoming rich. There are things in this book that I have never heard anyone else say and we will get into that shortly. I, admittedly, didn’t read it this week, I read it a long time ago (but re-read it this morning for this blog post) and wanted to share some of what I got out of it.
Highlights from How to Get Rich
Felix Dennis says he wrote this book for two reasons, 1. Because he likes to write about things he knows about and 2. because he believes that almost anyone of reasonable intelligence can learn how to get rich, given sufficient motivation and application.
How to Get Rich tells you how he did it, how he got rich without a college education or a penny to his name. Felix believes anyone can acquire the qualities of the rich with enough tenacity.
He explains that a “great idea” is NOT what will make you rich, it is the EXECUTION of an idea (great or not) is the key to becoming rich.
All throughout the book he shares that if you think that it can’t be done and DWELL on that thought, you are likely to remain poor. Mind those thoughts my friends.
He has a pretty interesting take on what is rich and what is poor. Here is his chart, I encourage you to see where this lines up with what you thought:
Liquid Assets Felix’s Classification
$100,000-$400,000 Comfortable Poor
$400k-$1 million Comfortably off
$1-2 million Comfortably wealthy
$2-10 million Lesser rich
$10-30 million Comfortably rich
$30-70 million The Rich
He has some more classifications in the book, thought this would expand your mind though =).
Another theme throughout the book he shares is that becoming rich will not guarantee happiness, in fact, it is almost certain to impose the opposite condition from the stresses of protecting it and the guilt of having it, however, he will show you how to get rich nonetheless and what you do with it is what you do with it.
Three Types of People
One of my favorite parts of How to Get Rich is his classification of the three types of people and their likelihood to get rich. I will share his thoughts on two of the categories:
1. The Young and Penniless – You can barely rub two nickels together, maybe, like Felix, you are using parts of your roof for firewood to keep warm. There’s hope for you. Felix Dennis says you are THE most likely to get rich as you have nothing to lose or prove and you are probably not over-burdened with the idea that you know it all already. You will tread into areas that you don’t even realize you shouldn’t and you, of all three categories, have the best chance. Nearly all the great fortunes acquired by entrepreneurs arose because they had nothing to lose.
3. Senior Manager or Professional – First of all he expresses his surprise that you would even read his book. Being an executive in a company gives you, in his opinion, the smallest chance of ever becoming rich due to your social status, what you DO have to lose and that you have seen so many others like you attempt to strike out on their own and fail miserably. It’s not impossible but extremely unlikely in Felix’s opinion that someone in this status will ever get to taste his description of being rich.
Powerful Rant by Felix
My experience has been that money is color-blind, race-blind, sex-blind, degree-blind and couldn’t care less who brought you up or in what circumstances. Money is one of the most neutral substances on earth. Others may conspire against you obtaining it through bigotry or prejudice. But they can only succeed if you permit them to.
If you truly believe that your race, sex or upbringing can keep you from becoming rich, then you had best give up here.
Wow. Well said my friend and oh by the way, if one of your army of agents read this, I would love to interview you Felix Dennis =).
You can get his book on Amazon or anyone good books are sold, leave a comment if you have either read this or plan on doing so, have a great rest of your weekend my friend!
To Your Abundance!
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