Pay yourself first. Financial freedom comes to those who save 10 percent or more of their income throughout their lives.
2. The Law of Investing
Investigate before you invest. Spend as much time studying an investment as you do earning the money you put into it.
Accumulating money and allowing it to grow at compound interest will make you rich.
Great financial achievement is an accumulation of hundreds, and even thousands, of small efforts that no one ever sees or appreciates.
As you accumulate money, you begin attracting more money into your life. Thinking positively about your money as you save it turns you into a money magnet. More money comes to you.
To become wealthy, you must have a burning desire to accumulate wealth. A mild desire or casual interest is not sufficient.
Definitiveness of purpose is the starting point of all wealth. To become wealthy, you must decide exactly what you want, write it down and then make a plan for its accomplishment.
All lasting wealth comes from enriching others in some way. The more you can train yourself to contribute value to the lives of others, the more you will earn and the more certain it is that you will become wealthy.
The surest road to wealth is to start and build a successful business of your own. No one ever got rich working for someone else.
The best and surest way to build a business is to start with little or nothing, and then to grow step-by-step out of your profits.
Your willingness to risk failure is the only real measure of your desire to be rich. Failure is a prerequisite for great success. If you want to succeed faster, double your rate of failure.
There is a direct relationship between the level of risk and the likelihood of loss in any enterprise.
Excessive optimism is a two-edged sword; it can lead to both success and failure.
If you persist long enough in the pursuit of wealth, you must inevitably succeed.
The purpose of a business is to create and keep a customer. All business activities must be focused on this central purpose.
A business organization is a group of people brought together for the sole purpose of creating and keeping customers.
Customers always seek the very most at the lowest possible price. Proper business planning demands that you focus on the self-interest of the customer at all times.
Quality is whatever the customer thinks it is, and the customer decides how much it’s worth. Your ability to add value to your product or service determines your success in the market.
Practice is the price of mastery. Whatever you practice over and over again becomes a new habit of thought and performance.
20. The Law of Capital
Capital represents assets that can be deployed to generate cash flow. Your most valuable asset is your earning ability. Your physical, mental and intellectual resources — continually growing and changing — are your personal capital.