J. Paul Getty - How to Be Rich - Ebook download as PDF File .pdf), Text File .txt) or read book online. On a recent trip to California, I visited the Getty Museum in Los Angeles and the Getty Villa in Malibu, two extraordinary art institutions paid for. Access a free summary of How to Be Rich, by J.P. Getty and other business In , Fortune magazine named J. Paul Getty, owner of Getty Oil, as “The.
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There are plenty of books on making money by men who haven't made much. But if J. Paul Getty, who Fortune magazine called "the richest man in the world. Book Summary: How to Be Rich – by J. Paul Getty. I love to study success and failure. Learning from others and controlling your associations are probably. Learn J. Paul Getty's secrets on making money and getting rich in this “excellent How To book from a $$$ and sense man” (Kirkus Reviews). There are plenty of.
Realizing his fortune, the young Getty retired to a life of frolicking in Los Angeles. A year or two later, he decided it was time to get back to work, and spent the next decades building the largest private fortune in the United States at the time.
Getty enjoyed five wives and suffered five divorces and spoke five languages, including Arabic, which helped him win a massively profitable oil concession in Iraq in Getty counted monarchs, politicians, businessmen and celebrities as friends the world over.
A notoriously frugal man, except when it came to art and his own home furnishings, Getty signed his own checks. Grandson Getty lost an ear in the turmoil but survived to tell the tale. His two exceptional museums in the Los Angeles area would certainly cost billions to build and furnish today. Attendance at the Getty museums remains free of charge some 38 years after his death. Flipping through the latter, I came across his fundamental rules for achieving success in business.
The man who wants to go into business for himself should choose a field which he knows and understands. The businessman should never lose sight of the central aim of all business — to produce more and better goods or provide more and better services to more people at lower cost.
A sense of thrift is essential for success in business. The businessman must discipline himself to practice economy wherever possible, in his personal life as well as his business affairs.
Legitimate opportunities for expansion should never be ignored or overlooked. On the other hand, the businessman must always be on his guard against the temptation to over extend or launch expansion programs blindly, without sufficient justification and planning. Forced growth can be fatal to any business, new or old.
A businessman must run his own business. He cannot expect his employees to think or do as well as he can. If they could, they would not be his employees.
The businessman must be constantly alert for new ways to improve his products and services and increase his production and sales. He should also use prosperous periods to find the ways by which techniques may be improved and costs lowered.
It is only human for people to give little thought to economies when business is booming. That, however, is just the time when the businessman has the mental elbow room to examine his operations calmly and objectively and thus effect important savings without sacrificing quality or efficiency. Many businessmen wait for lean periods to do these things and, as a result, often hit the panic button and slash costs in the wrong places.
A businessman must be willing to take risks — to risk his own capital and to lose his credit and risk borrowed money as well when, in his considered opinion, the risks are justified. But borrowed money must always be promptly repaid. Nothing will write finis to a career faster than a bad credit rating. A businessman must constantly seek new horizons and untapped or under-exploited markets. A generous service policy should also be maintained. The firm that is known to be completely reliable will have little difficulty filling its order books and keeping them filled.
No matter how many millions an individual amasses, if he is in business he must always consider his wealth as a means for improving living conditions everywhere. He must remember that he has responsibilities toward his associates, employees, stockholders, and the public. Do you want to make a million?
Believe me, you can — if you are able to recognize the limitless opportunities and potentials around you and will apply these rules and work hard. This short bio of Getty plays at his museums: Share this: Tommy Humphreys Tommy Humphreys, 30, is an entrepreneur, investor and writer from Vancouver, Canada. He also had some faults of logic, for instance, claiming he alw Overall, this book is now out of date. He also had some faults of logic, for instance, claiming he always thought about how his decisions would affect his employees who depended on him then turning around and saying in the next breath that all costs should be cut as much as possible to increase profits.
Anyway, I'm glad I can now say I've read it for my self-education, but I wouldn't read it again and I wouldn't recommend anyone else read it unless they were hard-core into self-help type books.
It won't be of any practical value for anyone trying to become rich, but it's an entertaining read anyway. Getty was far more anti-conventional than I had realized.
He lambasts conformists in every sphere, including business, art, and education, but of course at the time he wrote it he was well protected financially from the need to fit in. One part of h This book wasn't exactly what I expected, more of an insight into Getty's story and his attitude toward society and culture than anything else.
One part of his story missing entirely, and maybe it's just missing from his life, is his relation to any intimate connection in terms of a spouse or children. In fact, while reading it I had the impression that he had never been married at all, sort of consumed by his business interests, but then learned he had had several wives and children. The absence of any mention of his close family members leaves the sad impression of someone unable to connect to people in meaningful ways.