There is only one way to make a great deal of money; and that is in a business of your own.
Interpretation
Building your own business is the most effective way to achieve significant financial success.
J. Paul Getty emphasizes that the most reliable path to substantial wealth is through entrepreneurship. Owning a business not only allows greater control over financial outcomes but also the potential for success that comes from innovation and personal investment in one's endeavors.
In practice
In a motivational speech about entrepreneurship.
Today's dissenters mainly focus their attention and expend their energies on the most inconsequential of trivia. ...Allegedly serious intellectuals quibble endlessly over such ridiculous trivialities...In the meantime, the public is lulled into a perilous somnolence, spoon-fed pap, and palpable untruths, many of which are turned out by special-interest and pressure groups and well organized propaganda machines.
You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.
In times of rapid change, experience could be your worst enemy.
The #1 guideline to success is you must be in business for yourself. When you work for someone else, you sell your time at wholesale to your employer, who then re-sells it at retail to the customer.
Patience; this is the greatest business asset. Wait for the right time to make your moves.
To succeed in business, to reach the top, an individual must know all it is possible to know about that business.
Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches.
Downturns are the best time to start businesses because you develop discipline that's very lean and mean in terms of how to spend money. And those habits serve you very well in good times.
You can't control the talents He gives you, no doubt about that. But you can control the effort you put forth with those talents.
One very interesting framework for a company to succeed over time - beyond just business logic and analytics - is, do they have a reason why the best graduates in engineering programs will flock to them versus competitors?
The fact that my 15 minutes of fame has extended a little longer than 15 minutes is somewhat surprising to me and completely baffling to my wife.
To stay ahead, you must have your next idea waiting in the wings.
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