THE JOYS OF DELEGATION

The exercise of delegation used responsibly, allows you to bring out the best in others and to make yourself rich in the process.

Do not seek a replica of yourself to delegate to, or to promote. 

It is important to distinguish between delegation and abandonment. Absentee landlords never prosper.

The managers of my companies are free to get on with their jobs, grow the business, and reach the margin return agreed upon at the beginning of the year. BUT without my express permission:

• They may not vote anyone on or off the board.
• They may not physically move the headquarters of the company.
• They may not dispose of or shut down, any substantial asset.
• They may not purchase, or launch any substantial new product or business.
• They may not award themselves bonuses or salary increases.

In the early days of your company delegation and promotions are among your most powerful weapons in getting rich. If you want to get rich, then learn to delegate. 

THE POWER OF FOCUS

Trying to become rich is the main focus of your business life. This is achieved by being laser-focused on one thing- becoming rich. Keep your eyes on the ball.

We forgot we were supposed to concentrate on getting rich and concentrate instead, upon excelling in the first sphere we succeeded in. That is a mistake. If you wish to become rich look at the prevailing industries where wealth appears to be gravitating then go to where the money is! That is where you should focus your efforts. On the ball marked “The Money is Here.”

You cannot get rich all on your own. No one can. You have to focus on creating the right environment or working within,

FOCUS TIPS WHEN CHOOSING ‘HUMAN CAPITAL’

Employees and suppliers;

• Never choose an important employee or a key supplier alone – Your emotions will make you chose wrongly.
• Pay employees well. Bonus better. – Your company’s salaries must be competitive.
• Go further than reading a person’s references.
• Only hire winners. – Fire whiners and moaners swiftly
• Ignore your prejudices, likes, and dislikes. – Loyalty, effectiveness, honesty, integrity, and stamina are crucial. Cleverness and cunning can be useful. Professionalism is vital.
• Promote from within when you can. – You know their strength and weakness from a practical point of view. 
• Don’t leave senior employees in any job too long.

FOCUS ON DOING AN OUTSTANDING JOB

• Ownership is incumbent but doing an outstanding job is indispensable if you want to expedite your process of being rich. 
• Whatever it is you intend to do to get rich, get good at it. There is no point in owning a hundred percent of a rubbish company. 
• Focus on your business, whatever it is. It represents what you are. 

THE QUEST FOR WEALTH: A HEALTH WARNING

Excessive idolatry of money will corrode inner core, your integrity, your belief, your worth, and the love of those dear to you.

“There is no fortress so strong that money cannot take it.” Cicero

Young people think the time is always on their side but old catches young unawares. 

It is wrong for a young person to say they started their journey poor; the truth is if you are young, you are infinitely richer than the richest man or woman alive.

Money is never owned. It is only in your custody for a while. 

Many people think riches will give them the independence of a kind, luxury to choose what they wish to do with the rest of their life, and happiness, but riches will not make you achieve any of those things. 

The rich are not happy. The demands from others to share their wealth become so tiresome and so insistent, they nearly always decide they must insulate themselves. Insulation breeds paranoia and arrogance. And loneliness. And the rage that you have only so many years left to enjoy rolling in the sand you have piled up.

CUT LOOSE

To get rich you must cut loose from your parents, family, home, fear, working for other people, naysayers, and negative influence. There isn’t any other way. Cutting lose is a painful process.

CHOOSE THE RIGHT MOUNTAIN

Look for new mountains where gold is being mined, great new mine right now is in telecommunications, or the internet and legalised gambling.

One thing is for sure, you must avoid the trap of going into what you think will make you money if you have no empathy or feeling for what you are about to do. There’s no future in that. Go for something that exploits your natural talents

FEAR NOTHING

You cannot banish fear, but you can face it down, stomp on it, crush it, bury it, padlock it into the deepest recesses of your heart and soul and leave it there to rot.

By refusing to acknowledge the fear of failure, fear of making yourself look like an idiot, fear oflosing your lover, fear of losing your job, fear of your boss, fear of anything, and of any kind. Fear will creep back. 

There is a lot of money with your name on it all that is stopping you is fear. 

Fear rules us all and always has. This is odd because what can there be for us to fear when each of us knows we shall die eventually. 

Whatever it is that you want to do start now or you will never. Don’t care about statistics and logic they are bugaboo that muddy the water and discourage you from taking the plunge.

Never retreat. Never explain. Get it done and let them howl.

There is a place for impetuosity and leaps of faith. A place for belief. That place is here. And the time is now. 

HOW TO STAY RICH

Keep giving it money away. The faster you give it away, the more money will flow back to you. Not because of ‘karma’ or ‘universal cosmic forces’, but because by so doing you spend less time defending it and more time making more of it.

• Never loan it to friends. – Give them whatever you feel like giving.
• Your oldest friends are your only friends. Sad. Very sad. But true. 
• Avoid developing ‘plate-glass vision’ -Don’t be too difficult to reach, or acting like you’re special. Don’t be conceited and full of oneself.
• Choose your personal assistant with care
• Get your own private adviser.
• Develop a passion outside of making money. Fast. 
• Do not try to be friends with your staff. – Being fair and friendly is always cool. Trying to be ‘one of the boys’ is pathetic.
• Do not sleep with your staff. It’s dumb. It’s unfair. And it sucks. Period.
• Be safe – look for your security.
• Never stop looking for talent and promoting talent. 
• Retirement will kill you. It’s official! 

Making more money doesn’t mean you are smart. Employ smart people than you.

To learn visit incisive Book Takeaways.

How To Get Rich By Felix Dennis is just a great book to read it has 277 page, and was published in Great Britain in the year 2006