Have you ever imagined yourself a millionaire with so much money that you can sit down and never work for the rest of your life and still have money left over? How do people accumulate so much money? "The Very, Very Rich and How They Got That Way" has all these questions answered.
Max Gunther wants to show that it is not only possible but has been done many times. He takes the example of several men who came out of nowhere, many in poverty and have managed to become some of the richest men in the world.
Best of all, you can enjoy and learn from their examples and perhaps become a millionaire too. In this summary, you will see a little of what they did to get there and how to apply those ideas in your life.
If you want to know how and what tips you can enjoy in your life, then stay with us and read the summary to the end.
The book was published in English with the title "The Very, Very Rich and How They Got That Way" in the year 1972 and then reprinted and published again in 2010 by the American publisher Harriman House.
In Portuguese, the book was published in 2015 by Best Business publisher with the translation by Jorge Ritter. The edition was printed on 385 pages divided into 24 chapters presenting stories of 15 men who came out of poverty to become millionaires.
Max Gunther was born in England in 1926 and died in Portugal in 1998. In his 72 years of life, the author has written 26 books of which the most famous is "The Zurich Axioms", in which he presents advice from Swiss bankers to anyone who wants to enter. in the investment world.
In addition to writing, Gunther also worked as a journalist writing for books and magazines such as BusinessWeek, Time, Playboy, Reader's Digest, TV Guide, McCall's, and Saturday Evening Post.
For all those who believe in their potential, their ideas and want to become millionaires; for people who like to learn from others' mistakes and successes and for entrepreneurs looking for inspiration on how to get their business off the ground.
The very, very rich and how they got there is a book that will help you through real examples to understand a little more, which makes someone a millionaire.
If you want to understand a little more about what you made of these millionaire men, then let's get started.
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During the book, Max Gunther presents several stories in which luck was decisive in changing men's lives and turning them into millionaires. Like finding potential minefields, oil wells, getting to know the right person and betting at the right time.
So much luck is present in the lives of these millionaires that the author decided to create a chapter just for her. It presents the life of two men who grew up in the same place, at the same time, under the same conditions.
One of them became a beggar nicknamed "Banana Nose" who lived on shelters and alms, the other grew up to become millionaire and Hollywood star, Kirk Douglas.
The author suggests that maybe part of the luck is people, the more people you know, the more likely one of them has the contact you need. But there are also many things that have no explanation and are just plain luck.
But Gunther's idea is to inform the reader that if you have a little bit of luck, don't think it's bad, enjoy it. It can surely make a difference in your business and your path to becoming a millionaire.
Many of the millionaires and psychology scholars who have devoted themselves to studying the phenomenon of people coming out of nowhere to become incredibly rich say it is not possible, that this is something that is born with the person, but there are some who disagree.
Clement Stone believes that her Positive Mental Attitude (AMP) technique can be taught, in which you repeat phrases of encouragement to yourself at all times, and always analyze all your attempts to see what did right and what did wrong and so on. Learn to always improve.
The author says Stone set up his method and taught it to all his employees to make sure they had the best possible result for the company, every time.
The power of self-suggestion is employed by several other examples in the book and the author leaves examples of phrases that can be used as:
In basically all the stories told in "The Very, Very Rich and How They Got That Way" by Max Gunther, what stands out is the fact that everyone believed in themselves and their bets, even though many people were against it.
To make a business work, you need to trust what you are doing and your potential. Trust in your ability to judge situations, either to do everything yourself or to know the right time to ask for help.
Many of the millionaires were once called stubborn. J Paul Getti, an oil tycoon, tells in the book about an oil lease that everyone was told to forget, but he insisted and proved to be a very valuable place that greatly added to his fortune.
One of the stories in the book that most highlights this principle is that of Conrad Hilton, a real estate tycoon, specifically the hotel business. The boy inherited 2 thousand dollars after his father's death, along with the rest he had saved, and went out to buy a bank.
The story would probably have been very different if he had insisted on the idea, but instead took the opportunity presented to buy a hotel. And throughout his career, he took the opportunity to make the purchases he always wanted before anyone else did.
Another example is Howard Hughes who took advantage of every opportunity he had and got involved in various oil, film and aircraft businesses, always seeking to learn more about the issues and new ways to make money from them.
A very important principle of the book for those who want to become millionaires is learning to use the money of others (MOO) and Work of Others (WOO). To increase your profits and the chances of an investment yielding.
In the MOO, The idea is to raise more capital to maximize a company's potential return, either through bank loans or through stock sales of a starting company.
In the first case, the problem is that if the business fails, you may have too much debt to pay. In the second, the difficult thing is to find people with money willing to bet on your business and take the risk of losing money if the idea does not work out.
The WOO is basically finding a niche market and setting up franchises, with them, you put other people to work, using the image and prestige of your business and in return, you get money either in the form of a fixed amount per franchise or percentage of profits.
One of the great examples of franchises that worked and is cited in the book is Ray Kroc, head of McDonald's franchises. The millionaire identified the cafeteria's potential and began negotiating its franchises and later became the owner of the chain and started receiving from all the franchises he had negotiated.
In "What Rich People Know & Desperately Want to Keep Secret", author Brian Sher shows you how to achieve the richness you desire and hence the quality of life you have always dreamed of.
In the book "Secrets of the Millionaire Mind", author T. Harv Eker teaches the reader how to get rich by having the mindset and habits of rich people. For this, he suggests several practical exercises for the person to change their financial life.
Finally, Napoleon Hill in his book "Think and Grow Rich" reports that a common feature among successful respondents is that they are able to make decisions quickly, and are confident of that decision.
So, do you think you have what it takes to become a millionaire? Be sure to leave your feedback in the comments!
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