Post: #1

It's refreshing to read a (as the author calls it) "anti-self help" book. What I liked about "How to Get Rich" by Felix Dennis was his blunt-as-hell attitude and anecdotal stories.

So many authors sell books about how they've interviewed many millionaires and found "patterns," but I'd much rather prefer a book from a rich dude who just shares everything from personal experience.

Felix Dennis created a publishing empire that started with a Bruce Lee memoir and now he is most well known for owning Maxim, the biggest men's magazine in the world.

The guy shares how he blew (hundreds!) of millions of dollars on everything form lavish houses to French wine to whores (lots and lots of whores). He has a lot of wit and goes in to depth about the art of negotiating, delegating and owning your own business.

I soaked this book up, reading it in bites as a boost of entrepreneurial caffeine in the morning. I'll probably revisit certain chapters as well.

I may not get as rich as Dennis (dude is worth $400-$900 million) but I'm happy to shoot for tens of million and call it a day. This book focuses on the mindset required to get there, and it often requires you to ignore naysayers and have tunnel vision for what you want. (while still remembering, it's all just a game)

Anyway, I just really enjoyed this book and love that it's all first-hand stories from a guy who lives what he says. Check it out

Post: #2

I really liked it. Keep a pdf copy on my phone and in google drive.

It's part of the reason I'm much more less scared of debt than equity now.

WIA

Post: #3

Excellent recommendation and fantastic book. A guide to getting rich by someone who has actually done it.

There is also another another version of the book called How to Make Money: The 88 Steps to Get Rich and Find Success which is a quick read.

Some choice quotes from the man:

'If it flies, floats or fornicates, always rent it.. it’s cheaper in the long run.'

“Too many people want to make a blockbuster movie and live in Beverly Hills. Not enough people want to dig holes.”

On borrowed money:
“What are banks and venture capitalists but usurers who offer you an umbrella when the sun is shining and snatch it away the instant a few rain clouds appear?”

Risk and reward:
“An honest day’s work for an honest day’s pay is not risk taking.”

Personal vs. Corporate Finances:
“Never personally underwrite business loans for your company unless you absolutely, positively are forced to.”

Negotiating:
“Few of us are any good at detailed negotiations. That includes your opponent, by the way. Most negotiations are unnecessary. Don’t enter into them. Remember that ‘the fortress that parleys is already half taken.’ Save serious negotiations for serious occasions.”

Chasing money:
“If you chase money desperately in the earnest belief that you can never be happy without it and seriously think that the chase is a meaningful occupation, I doubt very much you will succeed. You have to be fiercely determined, true. But an appreciation of the absurdity of the chase helps enormously.”

Ownership:
“I once made a half a million by selling a magazine I had not even published yet to a rival. Half a million pounds for a day’s work. And why? Why? Why? Because I owned it. I owned it all.”

Fear:
“Try for just a single day, a whole day when you refuse to acknowledge fear of failure, fear of making yourself look like an idiot, fear of losing your lover, fear of losing your job, fear of your boss, fear of anything and of any kind. Fear will creep back, usually at three in the morning.

“Laugh at it and tell it to take a hike. Smash it in the teeth. Spit on it. Put your arms round it and make nicey-nicey. Then slip a sharp blade into its stinking throat just as you’re French-kissing it.”

Post: #4

Great book - totally unlike any other book in this field. Partly because it is one of the few written by a genuinely super rich person.

I did a post once which detailed my favourite part of the book:

/thread-24066-...#pid470946

Post: #5

Sounds awesome. Can't wait to read this book.

Post: #6

Is that the same version of the book, but the original he wrote for the UK?

His quotes are so good: "But an appreciation of the absurdity of the chase helps enormously.” Also applies to women.

HTGR had a sense of swagger and playfulness to it that was refreshing. It's like the author doesn't care if you want to get rich or not...but if you do he's got tons of crazy experience to share. That mindset works so well in many areas of life. Most bullshit self-help books are so desperate to inspire the reader...while all they really want is to inspire more people to buy their shit.

Anyone know if Felix is going to write something more?
And are there any other solid books written by actual millionaires worth reading?

Post: #7

I'm currently reading Think And Grow Rich by Napoleon Hill. It's a good read.

Post: #8

(04-26-2014 04:16 PM)game_ethic Wrote:  I'm currently reading Think And Grow Rich by Napoleon Hill. It's a good read.

That's a classic. He's very adament about reflecting on your big, ultimate, money goal twice a day, at the beginning and the end. Definitely helps the brain stretch and think of ways to get rich.

Post: #9

Is it a practical book. Or is it self-help mystic woo woo?

Post: #10

It's high level practicality as opposed to a step by step guide on how to get rich in the UK publishing industry. (Where he got rich)

It's definitely not a "think and grow rich" type book.
There's no law of attraction or any such nonsense.
I don't think he spends any time on the passion versus profit question that the gurus talk about.

WIA

Post: #11

(04-24-2014 07:49 PM)TheChef Wrote:  And are there any other solid books written by actual millionaires worth reading?

-The Millionaire Fastlane by MJ DeMarco. You should also check out his forum, it's a goldmine of information. Several millionaires post there as well as more than a few people who are on their way.

James Altucher and Mark Cuban's books are also very good.

Post: #12

@WIA - I have read the Felix Dennis book and thought it was very good. I was asking about the Napolean Hill book (mentioned above my post) since I always suspected it would be an 'inspiration' book more than a book of actual useful information. And as such - I am a little sceptical of its true value.

@The PerSev - I agree about the Mark Cuban book. I should start a thread on it since his book (a compilation of blog posts - so y'all may want to go check out his blog) contains more useful information than any other book I have read in this area. I haven't read the book - and am writing as a long time fan of his blog. Even if Mark Cuban wasn't a billionaire (which he is) - I would still say his writing shave more useful ideas than the other sources I have seen.

http://blogmaverick.com/

Post: #13

Dennis is an absolute character.

Whether you read the book or not, I recommend everyone looks him up online as he really is a fascinating man.

Post: #14

I agree its high level practicality, but to me its more tangible than Cuban's book. I just reread it and The Narrow Road, and to me its solid advice for any budding entrepreneur.

Post: #15

Read this a while back due to a forum member posting a free pdf (pretty sure it was WIA). Can't find the thread though.

This book along with The Millionaire Fastlane gave me the knowledge and mindset to take the plunge and start my own business late last year.

Post: #16

What I enjoyed about the book was its sense of gritty realism - everything costs, and the pursuit of wealth is no exception.

Most books talk about the hard work needed to amass a fortune - but Dennis goes as far as to say as you cannot be truly (ie. filthy) rich and happy.

His reasoning for this is that peoples' demands for your money (e.g. the tax man, family etc) become so insistent that the rich tend to insulate themselves and become paranoid.

The original copy of the book gave an example of a few friends of his - he says the happiest of the bunch was the guy who did ok financially through owning a bar in Bulgaria.

Arguably this links to the premise of diminished returns - reaching that sweet spot where the cost it takes to get to a certain destination (wealth, in this instance) does not outweigh the benefits.

Post: #17

Felix Dennis says he found the diminishing returns hit around 70 million pounds (120 million dollars).

It is interesting how he says you cannot be truly rich and happy. Felix described his burning desire as almost a mental illness.

I don't remember him mentioning his friend with the bar who was the happiest just talking it easy. Was there an earlier edition of the book that came out?

Or more likely - my memory is not as good as I thought it was.

Post: #18

(05-12-2014 11:11 PM)wi30 Wrote:  This book along with The Millionaire Fastlane gave me the knowledge and mindset to take the plunge and start my own business late last year.

Good for you.

How's it coming along?

(05-13-2014 03:14 AM)Scuba_Instructor Wrote:  The original copy of the book gave an example of a few friends of his - he says the happiest of the bunch was the guy who did ok financially through owning a bar in Bulgaria.

Good to know.

Post: #19

(05-13-2014 10:41 AM)cardguy Wrote:  Felix Dennis says he found the diminishing returns hit around 70 million pounds (120 million dollars).

It is interesting how he says you cannot be truly rich and happy. Felix described his burning desire as almost a mental illness.

I don't remember him mentioning his friend with the bar who was the happiest just talking it easy. Was there an earlier edition of the book that came out?

Or more likely - my memory is not as good as I thought it was.

Hmm ... I may have slightly misquoted - and got the country wrong! Apart from that it's 100% accurate

He says the following:

One did very well indeed with his own law firm.

Two of them did fairly well.

One went belly up and never recovered financially.

One threw in the towel and owns a tiny bar on an island in Croatia.

(I suspect he is the happiest of the lot).

The remaining one shot himself when his venture collapsed. None of them became really rich.

The quote can be found on Page 34 of the link below (I'm not sure which version it is but I remember reading the same line in a paperback copy):

/attachment.php?aid=10265

Post: #20

Just finished reading it. It basically says quit your job and start building a business. Don't be scared to fail and keep making more money. Once your business is established, diversify and rinse/ repeat.

Definitely more legit than the other "get rich" books, he even states that the people who wrote those books never became 'truly rich'. I like his definition of rich and poor too. Will drop a review on this thread soon.

Post: #21

@Scuba_Instructor - right I remember than bit now. Cheers!

@xpatplayer - a crucial point he repeatedly makes is to not give away any equity when you are raising funds to start a business.

Ever.

Under no circumstances. Even to your own best friend or your brother.

It may take longer to bake the pie. But when you do - all of it will be yours.

Post: #22

(05-13-2014 01:22 PM)cardguy Wrote:  @Scuba_Instructor - right I remember than bit now. Cheers!

@xpatplayer - a crucial point he repeatedly makes is to not give away any equity when you are raising funds to start a business.

Ever.

Under no circumstances. Even to your own best friend or your brother.

It may take longer to bake the pie. But when you do - all of it will be yours.

He dedicates an entire chapter to that. I will elaborate on that point when I write my review. Till then, I recommend anyone who wants to be an entrepreneur buys the book.

Post: #23

The book I wish I had read 8 years ago when I started my business. I downloaded the Dennis book over the weekend and it's already become my "Go-To" book. So much wisdom in this book. Timing is everything. Never give away equity. It's OK to partner if all of the partners have other bushiness going as well. I find myself having imaginary conversations with Felix Dennis. .
I'm going to make a WWFD bumper-sticker.

Post: #24

I just spent the past few days reading this book. It's a great book full of great insight and advice. It's definitely an antidote to the usual self-help books. I highly recommend reading it. Thanks for putting me onto it.

Post: #25

I'm reading "The Lean Startup" by Eric Ries, it's very good.
A slightly different, but also very good business book, is "Blue Ocean Strategy" by Renee Mauborgne & W. Chan Kim.

BOS is pre-recession (2006), and TLS (2012) is post-recession, no mentions of Lehman, China, etc.; BOS is academic and TLS is not; BOS is for arrived managers, while TOS is for entrepreneurs w/ nothing. Both are wonderful supplements for MBA grads & entrepreneurs, these books teach you what constant innovation -- which has become a catch-all phrase like management -- means in practice.

Highly recommended, both.