"The Art of Money Getting" was written by P. T. Barnum, who is widely known as an important historical entrepreneur as founder of the famous traveling circus.
In this book, Barnum shares his knowledge of business and teaches readers how to be successful in making money.
Here are 10 golden rules to make money that he shares in his book:
1. Stay True to Yourselves
Unless we enter upon the vocation intended for us by our respective natures, and best suited to each our peculiar genius, we will not succeed to our potential
2. Avoid Debt
Do not "work for a dead horse."
This is not related to those who buy on credit in order to turn the purchase into a profit.
Money is like fire; it is a very excellent servant but a terrible master.
3. Persevere
Perseverance is sometimes another word for self-reliance.
People naturally look for trouble. Then they ask for advice, and they will be governed by one wind and blown by another, and cannot rely upon themselves.
4. Whatever We Do, Do It with All Our Might
Work at it, if necessary, early and late, in season and out of season, not leaving a stone unturned.
"Whatever is worth doing at all, is worth doing well."
5. Stay Meaningfully Involved in Operations
We must exercise caution in laying our plans, but be bold in carrying them out.
A person who is all cautious will never dare to be successful, and a person who is all bold is merely reckless, and must eventually fail.
6. Use the Best Tools
People hiring employees should be careful to get the best.
If we get a good employee, it is better to keep them, than to keep changing.
A good employee learns something every day, and we are benefited from the experience our employees acquire.
7. Hope is Good, But We Cannot Rely Upon It
Many people are always kept poor because they are too visionary.
Every project looks to them like a certain success, and therefore they keep changing from one business to another, always in hot water, always "under the harrow."
8. Advertise
Be careful to advertise it in some shape or other.
If we have a product for sale, and nobody knows it, it will bring us no return.
9. Be Polite and Kind to Customers
Politeness and civility are the best capital ever invested in the business.
10. Don't Gossip
Some people have a foolish habit of telling their business secrets.
Say nothing about our profits, our hopes, our expectations, our intentions.
If we are losing money, we need to be especially cautious and not tell of it, or we will lose our reputation.
"The Art of Money Getting" is an excellent book for individuals who are interested in learning from an important historical business leader's own personal success and also serves as excellent motivational writing intended for those looking to be successful and make lots of money.
You can get this book + "100 Mental Models" program + 50 of the best books in history from this link:
Naval Ravikant is an entrepreneur, philosopher, and investor who has captivated the world with his principles for building wealth and creating long-term happiness.
The Almanack of Naval Ravikant is a collection of Naval wisdom and experience from the last ten years.
Through Naval's own words, you will learn how to walk your own unique path toward a happier, wealthier life.
Below are my five favorite big ideas from the book: