The Art Of Money Getting or The Golden Rules of Making Money was written in the late 1990′s by PT. Barnum.
He was one of the greatest businessmen of 19th Century. His ideas about business are as current today as they were when he wrote it.
P.T. became an incredibly wealthy man, and from reading this, you will understand how he did it and how you can do it as well.
If you want to be successful in business as an executive or as an owner his advice is well worth following.
BEWARE OF “OUTSIDE OPERATIONS”
We sometimes see men who have obtained fortunes, suddenly become poor. In many cases, this arises from intemperance, and often from gaming, and other bad habits.
Frequently it occurs because a man has been engaged in “outside operations,” of some sort. When he gets rich in his legitimate business, he is told of a grand speculation where he can make a score of thousands. He is constantly flattered by his friends, who tell him that he is born lucky, that everything he touches turns into gold.
Now if he forgets that his economical habits, his rectitude of conduct and a personal attention to a business which he understood, caused his success in life, he will listen to the siren voices. He says:
“I will put in twenty thousand dollars. I have been lucky, and my good luck will soon bring me back sixty thousand dollars.”
A few days elapse and it is discovered he must put in ten thousand dollars more: soon after he is told “it is all right,” but certain matters not foreseen, require an advance of twenty thousand dollars more, which will bring him a rich harvest; but before the time comes around to realize, the bubble bursts, he loses all he is possessed of, and then he learns what he ought to have known at the first, that however successful a man may be in his own business, if he turns from that and engages ill a business which he don’t understand, he is like Samson when shorn of his locks his strength has departed, and he becomes like other men.
If a man has plenty of money, he ought to invest something in everything that appears to promise success, and that will probably benefit mankind; but let the sums thus invested be moderate in amount, and never let a man foolishly jeopardize a fortune that he has earned in a legitimate way, by investing it in things in which he has had no experience.
ZT – Warren Buffet explains he only invests in businesses he can understand. The same should go for you, don’t get involved in anything you don’t understand.
That doesn’t mean don’t do new things, it means be aware that it takes time to learn a new business.
That is why so many people are one-hit wonders. They do well in something they totally understand, then, they think they are real smart and that they can do anything.
If you want to change careers, understand that you can do it. But, it will take time and lots of hard work to get to the top of the new career.
–
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P.T. Barnum wrote in the 1900′s and his material is great basic thinking information. But, P.T. doesn’t know about modern business and how we do things today.
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