Live by this motto: “The world is full of money. Some of it has my name on it. All I have to do is collect it.” Then go about looking for money with your name in it. You can find it in established industries (if you put a new spin on something) or in new industries.
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“Screwing up isn’t criminal or deliberate or malevolent. But covering up is, if you get caught. And you will get caught—ask the shade of Richard Nixon. Closing down a business or going into bankruptcy is a miserable affair at any time. My advice is not to make it worse by omitting to apologize and shoulder the responsibility squarely. But don’t take it too much to heart. There’s always the chance of a comeback.”
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Admit your mistakes if you screw up
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For employees, you can give them bonuses and a share of the profits. But do not give them equity if you can stop it from happening. Even when that’s painful.
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If you are a very poor negotiator, send a delegate with all possible information about how you would respond in certain scenarios.
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The negotiator opposite you is not a friend, partner, or confidant. You’ll get robbed if you think he is.
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If your advisors are leading you down a path you don’t approve of during your negotiations, tell them privately that if they continue along that route you will get yourself some new advisors.
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Remember that most people are not good at detailed negotiations. If you are a poor negotiator, then set a limit on what you will pay or accept and on any conditions attached. Do not deviate.
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If being a hero isn't your style, then fake it. Reality will catch up eventually.
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You have to believe in yourself, even when the little self-doubt monster pays you a visit.That's because if you don't believe you can do it, no one else will either. When you have self-belief, you can achieve pretty much anything that does not defy the laws of physics.Without it, you're burnt toast.
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Talent is usually conscious of its own value. But the currency of that value is not necessarily a million-dollar salary. The opportunity to prove themselves, and sometimes the chance to run the show on a day-to-day basis, will often do the trick just as well. This holds true even if talent is placed in the driver's seat of a small division within an existing operation. What talent seeks, as often as not, is the chance to prove itself and the opportunity to excel.
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Figuring out the difference between those two situations is critical.Because if you have a losing strategy and think it's a slow-burn winning strategy, you can waste years continuing along a path that won't yield the fruit you're looking for.
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“Wishing for or desiring something is futile without an inner compulsion to achieve it. Such lack of compulsion, if not frankly acknowledged, can lead to great personal unhappiness. We have all met deeply unhappy souls muddling along in professions or careers for which they are patently unsuited. Worse still, by continually wishing and never delivering, you risk denting your confidence, beginning a vicious downward spiral that appears to draw misfortune like a magnet. The assumption that you might be able to achieve some goal if you only wished hard enough is not just a f***-up. It’s a potential personal tragedy.”
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You can amass enough money to be comfortable if you earn a salary working for others, but you will not get rich this way. That does not mean that you should never work for other people. Especially early in your career, you can treat working for other people as a paid research experiment. You can learn skills, see how other people do business, and understand more about running an organization.
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If you cannot face up to your fear of failure, you will never be rich.
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If you cannot treat your quest to get rich as a game, you will never be rich.
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If you cannot convince yourself that you are “good enough” to be rich, you will never get rich.
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If you are not prepared to work longer hours than almost anyone you know, despite the jibes of colleagues and friends, you are unlikely to get rich.
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If you have artistic inclinations and fear that the search for wealth will coarsen such talents or degrade them, you will never get rich. (Because your fear, in this instance, is well justified.)
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If you cannot bear the thought of causing worry to your family, spouse or lover while you plow a lonely, dangerous road rather than taking the safe option of a regular job, you will never get rich.
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If you care what the neighbors think, you will never get rich.
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If you are unwilling to fail, sometimes publicly, and even catastrophically, you stand very little chance of ever getting rich.
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Requirements if you want to get rich
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But if you’re serious about getting rich, you have to cultivate a strong mental armor to ward off the naysayers. You need to be open enough to take constructive criticism and to learn from your errors, but strong enough to act with conviction on your plan and to keep going in the face of adversity.
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If you dare to do something different or to create large amounts of wealth, people will criticize you and tell you how you will fail at every corner. And at some corners, you will fail and hear all those people uttering that they told you so.
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