An exert from "The Richest Man in Babylon":
The spirit of procrastination is within all men. We desire riches; yet how often when opportunity doth appear before us, the spirit it procrastination from within doth urge various delays in our acceptance. In listening to it we do become our own worst enemies.
You need to realise what this truly is; a habit of needless delaying where action is required, action prompt and decisive. How it is hated when the true character is revealed. With the bitterness of a wild ass hitched to a chariot, break loose from this enemy to thy success!
Procrastination is an enemy ever watching and waiting to thwart your accomplishments. Recognise and conquer procrastination.
Wednesday, 26 August 2009
Tuesday, 25 August 2009
The Richest Man in Babylon - George S. Clason
I highly recommend this book to anyone and everyone who wishes to build up a fortune over their lifetime. It teaches you timeless values, rules and laws that which, when mastered, will lead you down the path of health, wealth and happiness. Here are a the headline lessons taught, however you should still read the book yourself to fully grasp these messages:
1) You will find the road to wealth when you decide that a part of all you earn is yours to keep.
2) The seven cures for a lean purse:
* Start thy purse to fattening by keeping no less then one tenth of your earnings
* Control thy expenditures - budget to live well of the nine tenths
* Make thy gold multiply - to put each coin to labouring that it may reproduce its kind even as the flocks of the field and help bring thee income, a stream of wealth that shall flow constantly into thy purse.
* Guard thy treasures from loss by investing only where thy principle is safe, where it may be reclaimed if desirable, and where thy will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let thy wisdom protect thy treasure from unsafe investments.
* Make of thy dwelling a profitable investment - Own thy own home.
* Insure a future income - Provide in advance for the needs of thy growing age and the protection of thy family.
* Increase thy ability to earn - cultivate thy own powers, to study and become wiser, to become more skilful, to so act as to respect thyself.
3) Men of action are favoured by the goddess of good luck.
4) The Five Laws of Gold:
* Gold cometh gladly and in increasing quantities to any man who will put by not less then one-tenth of his earnings to create an estate for his future and that of his family.
* Gold laboreth diligently and contently for the wise owner who finds for it profitable investment, multiplying even as the flocks of the field.
* Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
* Gold skippeth away from the man who invests it in businesses or purposes with which he is not familiar or are not approved by those skilled in its keep.
* Gold flees the man who would force it to impossible earnings or who follows the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desirers in investment.
5) Better a little caution then a great regret.
6) Where the determination is, the way can be found.
1) You will find the road to wealth when you decide that a part of all you earn is yours to keep.
2) The seven cures for a lean purse:
* Start thy purse to fattening by keeping no less then one tenth of your earnings
* Control thy expenditures - budget to live well of the nine tenths
* Make thy gold multiply - to put each coin to labouring that it may reproduce its kind even as the flocks of the field and help bring thee income, a stream of wealth that shall flow constantly into thy purse.
* Guard thy treasures from loss by investing only where thy principle is safe, where it may be reclaimed if desirable, and where thy will not fail to collect a fair rental. Consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let thy wisdom protect thy treasure from unsafe investments.
* Make of thy dwelling a profitable investment - Own thy own home.
* Insure a future income - Provide in advance for the needs of thy growing age and the protection of thy family.
* Increase thy ability to earn - cultivate thy own powers, to study and become wiser, to become more skilful, to so act as to respect thyself.
3) Men of action are favoured by the goddess of good luck.
4) The Five Laws of Gold:
* Gold cometh gladly and in increasing quantities to any man who will put by not less then one-tenth of his earnings to create an estate for his future and that of his family.
* Gold laboreth diligently and contently for the wise owner who finds for it profitable investment, multiplying even as the flocks of the field.
* Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.
* Gold skippeth away from the man who invests it in businesses or purposes with which he is not familiar or are not approved by those skilled in its keep.
* Gold flees the man who would force it to impossible earnings or who follows the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desirers in investment.
5) Better a little caution then a great regret.
6) Where the determination is, the way can be found.
Monday, 24 August 2009
Starting out takes twice as long and costs twice as much
Just about everyone starting out a new business underestimates how long and how much it is going to take to get the business up and running. Be realistic about your time-scale and budget.
Try testing the market and doing your initial work on a shoestring budget. If you see it is working then go full steam ahead but if it is not going to work then you will not loose a high initial investment.
90% of start-ups fail, of those 10% remaining only a small percentage survive to see the 5 year mark.
Be absolutely clear upfront about what is going to make yours work?
Try testing the market and doing your initial work on a shoestring budget. If you see it is working then go full steam ahead but if it is not going to work then you will not loose a high initial investment.
90% of start-ups fail, of those 10% remaining only a small percentage survive to see the 5 year mark.
Be absolutely clear upfront about what is going to make yours work?
Thursday, 20 August 2009
"Employ your time improving yourself by other men's writings so that you shall came easily by what others have labored hard for." - Sokrates
Some fantastic books that I've been reading over and over lately are:
# Good to Great - Jim Collins
# Business Stripped Bare - Sir Richard Branson
# The Richest man in Babylon - George Samuel Clason
# Think and Grow Rich - Napoleon Hill *** My Favourite at the moment!
# Good to Great - Jim Collins
# Business Stripped Bare - Sir Richard Branson
# The Richest man in Babylon - George Samuel Clason
# Think and Grow Rich - Napoleon Hill *** My Favourite at the moment!
Wednesday, 19 August 2009
"Good is the Enemy of Great" - Jim Collins
Never accept mediocrity, never settle for being "good" at what you are striving to achieve. Good is not good enough. Be the BEST!
Monday, 17 August 2009
Knowing why you are successful
"The single biggest danger in business and life, other then outright failure, is to be successful without being resolutely clear about why you are successful in the first place." - Robert Burgelman (Stanford Business School).
Sunday, 2 August 2009
Wise words of advice
Here's a few words of wisdom offered to me by a successful entrepreneur:
Be open and honest with your partners. Be generous in taking them on. If they are silent partners always pay them their share of their profit. Never forget that they were there in the beginning and helped with the above items. Never begrudge them sharing in your success. Always deal with them, suppliers and customers in a win-win arrangement. If your supplier sends you one extra memory stick and it is not on the invoice – phone them and tell them (always). Then maybe one day your customers will show you the same courtesy.
Be open and honest with your partners. Be generous in taking them on. If they are silent partners always pay them their share of their profit. Never forget that they were there in the beginning and helped with the above items. Never begrudge them sharing in your success. Always deal with them, suppliers and customers in a win-win arrangement. If your supplier sends you one extra memory stick and it is not on the invoice – phone them and tell them (always). Then maybe one day your customers will show you the same courtesy.
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