Felix Dennis is a cool guy. Although I read his book ('How To Get Rich') and found it a little lacking in details.
I guess the book is more of a general guide to the characteristics and ferocious drive you need to decide to become very rich.
He repeatedly points out how difficult it is to
decide you want to become rich. Too many people get discouraged or priotise some other aspect of their life over the drive to become rich.
When he wrote the book - Felix Dennis (who is a billionaire) said that in his experience. You don't need much more than 70 million pounds (a little over 100 million dollars) to truly enjoy life and fulfill every one of your desires. He found that any more money than that was a bit of a waste since it didn't really add any extra enjoyment to his life.
OF course Felix is unusual compared to alot of billionaires. He is an intellectual who likes to write poetry - and who considers
time to be the best thing that money can buy (and I agree). The freedom to fill the day exactly as you want is the most precious thing in the world to him.
One of the interesting points he makes is this - I can't remember the exact figures but this is the general point he was making.
He says - okay, imagine you have decided you truly want to be incredibly rich? And to be incredibly rich is more important to you than listening to friends and family who will tell you to settle down and just get a normal job like everyone else. Okay, good!
Now - some good news. Getting incredibly rich is not as unlikely as you might think.
Firstly - in the UK - there are 30 million adults.
Kick out half of them because they are women.
Now kick out 2/3 of them because they are not (hopefully) as smart as you.
So - we are left with 5 million men who are about as smart as you.
Now - kick out half of them becasue they are retired or are soon to retire.
We are left with 2.5 million men.
Now - kick out 3/4 of them because they are trapped in a mortgage, marriage, kids - such that they are not in a position to take a risk with their lives.
That leaves us with 625,000 men.
Of those 625,000 men - only about one percent are hell bent on getting rich at the expense of everything else. And at the expense of living a nice comfortable life with a good career.
So - now you are down to 6250 people.
Now in the UK - there are about 1000 people who were worth more than 65 million pounds (100 million dollars).
So - that leaves us with a figure of 1 in 6.
But that seems too high - and doesn't take into account the fact that alot of the super rich people in the UK inherited their wealth.
So - we can maybe push back the figure to 1 in 20.
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Now - I am sure I have fucked up the figures somewhere along the way (I will try and cut and paste from the book if I find it). But there is a sense in which - if you meet all the criteria above - your chances of becoming super rich are in the realms of 1-5%.
Which is still difficult. But is also alot more encouraging than the usual way of thinking. Which is to think to yourself - there are 65 million people in the country. So - I only have a 1 in 65 million chance of becoming super rich.
But as Felix says. It is truly hard to decide to become rich. Felix was living in poverty as he tried to make money. When all around him people were offering him nice jobs and investments (but only if he would give up equity). And Felix turned it all down - in order to try and become rich.
And that reminds me of another point. Felix is adamant that you never give away any equity when starting a business and raising money.
It makes it more difficult to 'bake the pie' when you go down that route. But when you do bake the pie - it is
all yours.
Cardguy
PS Felix Dennis has the coolest inside cover to a book I have ever seen. Click on the link below to check it out. It shows something you never see in any other book promising to make you rich. It is the coolest 'fuck you' to the other authors promising the same thing.
http://www.felixdennis.com/content/wp-co..._cover.jpg [these are photocopies of a bunch of cheques that Felix has written out over the years for the payment of his income tax]