Thread by @waronweakness

How to Get Rich

20 Lessons on getting filthy rich from a publishing tycoon who went from broke to multiple billions

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1. I got rich my way. You might even say the old-fashioned way. By making errors, lots of errors, and learning from them.

2. The first few million pounds I ever trousered were a direct result of trusting instincts entirely at odds with conventional wisdom of any sort

3. Curiosity has led many a man and women into the valley of serious wealth

4. Making money is a drug. Not the money itself. The making of the money.

5. Prompt decisions are far healthier than endless debate and prevarication. This applies equally to a debate within one’s own mind. Fretting is counter-productive at any level. And so is lack of action.

6. New or rapidly developing industries, whether glamorous or not, very often provide more opportunities to get rich than established sectors. The three reasons for this are availability of risk capital, ignorance and the power of a rising tide.

7. The biggest rewards go not to those individuals who came up with the idea, nor to those individuals who built the empire. They go to those entities or individuals who funded the enterprise and own the most stock. Always bear this in mind during the Search.

8. Having a great idea is simply not enough. The eventual goal is vastly more important than any idea. It is how ideas are implemented that counts in the long run.

9. It nearly broke me. But I would not give in. That was the secret ingredient. I would not be a wage slave. I would not take ‘no’ for an answer. I would not give in. I was going to be rich. Some how. Some day soon.

10. I am not a manager. I am not even a businessman. I’m an entrepreneur and I go with my gut. After that, managers and bean-counters and financial advisors take over. But only afterwards.

11. The jets are always rented. If it flies, floats or fornicates, always rent it – it’s cheaper in the long run.

12. Money is power. Power is an aphrodisiac. It even says so in the Bible: ‘Wine maketh merry: but money answereth all things’ (Ec.9:10). Money did not make me happy. But it quite definitely improved my sex life.

13. If you want to get rich, don’t sit around waiting for inspiration to strike. Just get busy getting rich.

14. There is absolutely nothing more likely to dampen the prospects of becoming rich than a nice, fat, regular salary cheque.

15. Listening is the most powerful weapon after self-belief and persistence you can bring into play as an entrepreneur

16. Ownership is all. When who owns what is in dispute, the only people who are going to get rich are the lawyers.

17. ‘If only….” Are the two saddest words in the English language

18. To become rich, you must become a predator

19. My advice concerning luck is to laugh in the face of the Lady when she presents herself. Take what you will of her bounty and act swiftly to take advantage of good fortune. But never thank her for it. And forget her the moment she leaves to seek another victim.

20. Fortune favours not just the brave but the bold

Thanks for making it to the end.

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Thank you!

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