Skip to main content

What are the good habits to cultivate to become rich?


You’re too young to start a business, Son! There are no shortcuts!” my dad told me before I started my parking lot business outside my college campus.
“Come on! It can’t be that difficult, Dad! I’ll figure it out!”
I failed!
“Son, hard work is not good enough! You’ve got to work smart and stay disciplined!”
“You're telling me I’m stupid, Dad? What’s wrong with you?”
A few months later, still during my College years, I tried my second business … I purchased a Xerox machine to sell photocopies to students in an apartment building.
I failed!
My dad patiently was watching me fail.
Humiliated, I finally started listening to him.
“It’s not just your hard work, Son; It’s how smart you work!” he insisted.
What do you mean smart work? I asked offended.
“Son, in life you either learn from others’ mistakes or you learn from your own. It’s cheaper and faster to learn from others’ mistakes! You need to develop the habit of reading and listening to others!”
“Reading? That’s boring! Listening? I can hear you, Dad! I’m NOT deaf!”
After several years I finally understood the lessons my dad was trying to teach me.
“Never minimize the power of a book, Son! Books give you the experience of a lifetime in just a few hours. Imagine living 100 years in one year! What would that result in?”
“What do you mean, Dad?”
“If you develop the habit of reading, you could read 100 books in a year! That’s 100 years of knowledge!”
For the first time, I listened to him and I never forgot that!
Books are amazing! There may be thousands of books in a library or a book store, but their abundance will NEVER be a commodity. Never minimize the value of the wisdom each book contains!
1.       Wealthy people develop the habit of reading.
2.       Wealthy people develop the habit of listening to others, the reason they surround themselves with the best advisers in the world.


Comments

Popular posts from this blog

Why do millennial have more student loan debt than any other generation?

The lost generation: Today’s children get prizes and awards merely for participating — this sends a DANGEROUS message to kids: “We’re all winners.” This mindset is repeated continuously at the end of each project, event, or season. As a result, kids grow up expecting awards and praise just for showing up — (by the way, this sounds like socialism.) This mindset leaves kids terribly unprepared for the harsh realities of capitalism. Capitalism is ruthless. It rewards only winners, not just anyone that shows up to ‘work.’ Today, these kids are being offered an irresistible deal: “Go to college, and don’t worry; you can pay the massive college tuition with credit, and whenever you find a job with your ‘valuable’ degree, you can pay it back later.” “I MUST participate!” So, here they go to “participate,” at a mediocre college, to study a mediocre (and outdated) degree, to finally, AGAIN, get a “participation reward,” called a degree... Now, here comes real life: There’...

What happens to the founders after big tech acquisitions?

Whats App  was founded in 2009 by Brian Acton and Jan Koum — both former employees of Yahoo! In September 2007, they took about a year off for traveling around South America. After buying an iPhone, they saw opportunity in the growing App Store. In February 2009, they incorporated Whats App Inc. in California. After many bugs and failures, the app suddenly started to gain momentum. With growth, however, the costs quickly started to add up, so they occasionally switched the app from "free" to $0.99 so they wouldn't grow too fast. A few years later, in February 2013, Whats App's user base had grown to about 200 million active users and 50 employees. Sequoia would invest $50 million, valuing Whats App at $1.5 billion. In February 2014, just a few months after Sequoia’s round, Facebook, Inc. announced it was acquiring  Whats App  for US$19 billion  — its largest acquisition to date. What happened to the founders after Whats App's acqu...