How to Get Rich by Felix Dennis

How to Get Rich by Felix Dennis is a book that aims to help people embrace entrepreneurship and shares lessons learned the hard way. The author believes that the people who become rich are just like everyone else, but their mindset has shifted from “want to be rich” to “need to be rich.” The book provides actionable, specific guidance on how to think and act to become rich.

The main themes of the book include the importance of overcoming the fear of failure, working harder than almost anyone you know, disrupting personal relationships, ignoring what friends and neighbors think, being ready to lose it all if it doesn’t work, not being afraid of public humiliation, and treating money as a game. The book also emphasizes the need for an unshakeable belief that you will be rich someday and the importance of analyzing your need for wealth.

Useful takeaways from the book include the following:

1. Analyze your need. Desire is insufficient. Compulsion is mandatory.
2. Ownership is the real “secret.” Hold on to every percentage point you can.
3. Sell before you need to, or when bored. Empty your mind when negotiating.
4. Fear nothing and no one. Get rich. Remember to give it all away.
5. Be confident enough and treat money as a game.
6. Work a lot more than almost anyone you know.
7. Be ready to disrupt your personal relationships.
8. Ignore what your friends and neighbors think.
9. Be ready to lose it all if it doesn’t work.
10. Not be afraid of public humiliation.

How to Get Rich by Felix Dennis is a must-read book for anyone who wants to become wealthy. The book provides practical advice and guidance on how to think and act to achieve financial success. It emphasizes the importance of having an unshakeable belief in oneself and the need to work hard and take risks to achieve one’s goals.

Author’s Takeaways

At the end of the book, he summarizes the key points. Here they are –

1. Analyze your need. Desire is insufficient. Compulsion is mandatory.
2. Cut loose from negative influences. Never give in. Stay the course.
3. Ignore “great ideas.” Concentrate on great execution.
4. Focus. Keep your eye on the ball marked “The Money is Here.”
5. Hire talent smarter than you. Delegate. Share the annual pie.
6. Ownership is the real “secret.” Hold on to every percentage point you can.
7. Sell before you need to, or when bored. Empty your mind when negotiating.
8. Fear nothing and no one. Get rich. Remember to give it all away.

What I Liked

This book is one of the rare books to have a quote / checklist from it that I refer to everyday. I love how sharp and accessible the writing is. I love how nuanced and realistic the book is. And I love how truly useful it is – there’s no fluff that you usually see in business books.

What I Did Not Like

Now – the tone & style is grating, but the advice is right on.