I came across an article written by Felix Dennis, a British publishing mogul, a couple of weeks ago and meant to mention it here. It’s called “If you want to be rich, stop being so frightened” (apparently an excerpt from his forthcoming book), and I think it’s well worth reading because it’s rare you get the perspective of a multi-millionaire that’s written so candidly. Sure, some of it might be a bit obnoxious, but it’s still worth a read.
We hear all the time about how peoples’ goals are to become rich multi-millionaires, but do they really know how much effort, time, and luck it takes? And the type of sacrifices involved? And does all that money really change your life or bring you more happiness? All these questions and more are answered by Mr. Dennis in the article.
I’ve had the fortune to know many entrepreneurs and a couple of CXOs of public companies in my time, and the truth is that after discovering the lifestyle they lead, I realize that I am personally not cut out to be a CEO of a large company.
I’d guess that in 99% of the cases, in order to succeed at that level, you must dedicate your whole life to building your business and career, and though there’s anything wrong with that, the truth is that I doubt that I personally be willing to give up time spent with loved ones in order to build my business into a large enterprise.
I realize what I’m saying here will probably be seen as cowardly by some people. I’ve read Kiyosaki’s books, I do believe that he has some good points. But in the end, I think the question boils down to finding that right balance between your life and time and having enough money.
A while back, I read Richard Branson’s autobiography, which I greatly enjoyed, and which also opened my eyes. It blew away several misconceptions I had of entrepreneurs. I was surprised to discover that he had no first-hand industry knowledge of his first business, merely the idea that it ought to work and the drive to make it happen.
And the amount of sacrifice, risks, and court battles with British Airways he undertook to get Virgin Airlines to work was inspiring and downright scary. I think I would have cracked under the pressure and overwhelming odds. I still admire Branson while realizing that I don’t think I’ll ever be able to become someone like him.
But rather than read my ramblings here, why not check out that article instead?