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Wealth Building: Let The Wealth Building Secrets Of J. Paul Getty Inspire You To Great Achievement
One of the shortcuts to creating wealth is to learn from those who have achieved great wealth.
The late John Paul Getty is known as one of the greatest wealthbuilders in American history.
He was kind enough to distill his wealth building rulesfor anyone who desires to amass wealth like him to follow.
Do you want to be fabulously rich? Then learn from the master wealth creator himself, and follow in his footsteps:
Rule No. 1:
To acquire wealth today, you must be in your own business.
You may think that the corporate executive with a $100,000salary is better off than small shop owner, but the executivewill be hard-pressed to double his income and taxes will eat upmost of any increase.
The simplest peanut vendor has unlimited opportunity to expand his business and his income, and even salesmen, who in most cases are able to write their ownpaychecks, can control his sale increases himself.
Rule No. 2.
You must have a working knowledge of the businesswhen you start and continue to increase your knowledge of it asyou go along.
If you don't know what you're doing when you start, yourmistakes will be costly and often unnecessary, and you won't beable to keep up with the technological explosions in any field.Start smart and stay that way.
Rule No. 3.
You must save money in your personal life and inyour business venture as well.
Discipline is the key to saving money. You must develop thewill power to deny yourself immediate gratification or thetemptation to gamble on the quick buck. Resources will be needed for expansion and should be guarded carefully.
Rule No. 4.
You must take risks, both with your own money orwith borrowed money.
Risk-taking is essential to business growth.
Nelson Bunker Hunt is admired for his guts in trying tocorner the silver market, not scorned for losing money on thisdeal.
Some of the richest men have staked their entire fortunesand lost, several times over, before the risk-taking paid off.
Back those risks with good judgment, experience, commitment, And the right support.
Seek advice on risks from the wealthy who still take risks, not friends who dare nothing more than a football bet.
Rule No. 5.
You must not only learn to live with tension, youmust seek it out.
Thrive on stress! If it means getting physically fit, having apsychiatric overall or losing 50 pounds before you can handleit, do it.
Once you can learn to thrive on stress, you will notonly enjoy it, you will seek it out willingly and enthusiastically and wonder how you could live any other way.
Men of means look at making money as a game which they love to play.
Consider it serious business and you will suffer far morestress than you need or want.
Keep your perspective or your stress level will rocket beyond your control.
Rule No. 6.
Build wealth as a by-product of your businesssuccess.
If wealth is your only object in business, you will probablyfail.
Wealth is only a benefit of the game. If you win, themoney will be there.
If you lose, and you will from time to time if you play long and hard enough, it must have been fun or it was not worth it.
Rule No. 7.
This is the greatest business asset. Wait for the right time tomake your moves.
Let your business grow naturally, not by pressing your luck.
Rules No. 8.
Diversify at the top.
Once you've made it, you'll understand that any business islimited in the challenges it offers.
You'll want and need other games to play, so you'll look for other ventures to hold your interest.
May these words of wisdom from Mr. Getty inspire youto build fabulous wealth and reach the stars.
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