Seven Secrets Of Millionaires by Stuart Goldsmith - HTML preview

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Chapter Six

You Must be Prepared to

Pay the Price

“Self-made Millionaires Achieved This Status

Because They Were Willing to Pay the Price.”

There is a price to pay for getting rich, just as there is a price to

pay for everything you attain in your life. Many chatter about being

willing to pay the price, but few will actually do so. If you are serious

about becoming a wealthy man or woman, you need to be prepared to

pay the considerable price tag associated with that blissful state. It

doesn't come free.

So let's talk honestly, frankly and openly about exactly what is

involved if you are to make your fortune. You will not read what I am

about to tell you in any 'feel good' book.

To make a lot of money, you’re going to have to give up many

things. A proper family life, a decent social life, friends and many

other things besides. Often you won’t even know what the price is

when you start out. Nevertheless, you must resolve to pay it. This is

the factor which stops most people from getting rich. They want it for

nothing and are not willing to sacrifice anything at all to get it. This is

a fantasy.

I think my strength is in smashing illusions, fantasies, and myths.

Most people sign up for a great many of these fantasies which they

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believe to be 'the truth' and this has a huge impact on their wealth-

creating efforts. Often it even threatens survival.

Most people barely survive financially. Worse still, lacking an

iron-grip control on even the basics of their lives, they mumble the

incantations of success, expecting magical results. That is, results

which do not exact a price or penalty.

Let us be brutally honest here, this is the state of people in the

United Kingdom today:

1. 2% are wealthy.

2. 5% are comfortable. They live in a decent house with a small or

zero mortgage, they drive a new car, they take one or two holidays

each year. They have enough money for most of the things they need,

but they are not wealthy. I would describe them as being in the high

end of their comfort zone.

3. 53% are scraping along day-to-day, month to month. They are

just about paying their way, but there is never any money left over for

luxuries. Also, they live in constant fear of the large unexpected bill,

tax demand, or medical expense. They are hanging on to the tricky

business of life by the fingernails - barely surviving; lurching from

crisis to crisis.

4. 40% are days away from drowning and are coming up for air for

the third time. Their past mistakes and failures have created a

crippling burden of debt which they have not the slightest hope of

paying back through working at a normal job. The crushing weight of

their errors and the cumulative effect of years of laziness, inaction and

lack of discipline have created a terminal situation. Each month they

sign up again for inaction and myopia. Each month their load

becomes a little heavier. Without urgent and immediate action, the

outcome is inevitable - total financial collapse.

As an aside, I would like you to reread the above paragraph and

notice how I place the blame for this situation squarely on the

shoulders of the person experiencing it. This is where it belongs of

course but it is unfashionable to say so.

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Do You Sincerely Want to be Rich?

In a society which seeks to crush individualism and make each one

of us a worker in the state collective, how can an individual possibly

be to blame for his own misfortune? He cannot. This would give the

individual some personal power, and that cannot be right! No. It must

be society, greedy capitalists, manipulative industry, bad luck, his

upbringing, peer pressure, his race, lack of education, his age, lack of

opportunity, or any one of a hundred other factors all of which are out

of his control. In short, he is not to blame, according to modern

thinking.

If you doubt this, read the following and see if it has a familiar

ring:

"Yes, I admit it. I'm flat broke and I owe tens of thousands of

pounds to other people which, to be honest, I don't have a prayer of

paying back. But it's not my fault. I was made redundant from my job

and thrown on the scrap heap at 40. Those greedy bosses call it

downsizing - but I don't notice any downsizing in their fat wallets.

Twenty years I've worked there, and that's all the thanks I get. I'm a

heavy- motor electrical engineer, and there just aren't that many jobs

around for someone of my abilities. I've applied for a few but they

always want younger men. I guess losing my job made me kinda

depressed and my wife couldn't take it. She wants a divorce and the

bitch is taking me for every penny. I don't have any savings, and the

money I get from the state is a joke. Sure I'm broke, but as you can

see it's not my fault."

Blame-Shifting

Let me translate this litany of blame shifting.

"I am such a weak and feeble human being, that I have been

unable to master one of the simplest and most basic skills of life; that

is to spend less than I earn. My greed exceeds my means to pay for it,

and so to fuel my desires, I must borrow from the surplus created by

others. I have spent every penny of my own money, and squandered

the surplus created by others which they entrusted to me on the

promise that I would pay them back. I have broken that trust and they

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Do You Sincerely Want to be Rich?

are unlikely to get their money. I am not a trustworthy human being,

but it's not my fault.

“I know that the world is a dangerous and uncertain place, but for

twenty years I decided to ignore that fact. Consequently I have zero

savings, but it isn't my fault. I needed all the stuff I bought, and a lot

more besides. I did some training once, twenty years ago, and I fully

expected that to last forty years.

"The world owes me a living, and society should provide jobs for

people with my abilities, regardless of whether they are needed or

not. Bosses should provide jobs for workers regardless of profits.

People need jobs, and it is the duty of bosses to provide them. I have

no intention of retraining. I have made a half-hearted attempt to get

another job, but because I'm so weak, I get quickly discouraged and

so I have given up. Now I get free money from the state. This is

nothing like enough for me to live on, and I think the state should give

me a lot more free money."

I know you do not hold the same attitudes as this man - you would

not be reading this book if you did!

So given the terrible poverty, both financial and spiritual of the

majority of people, what can you do to raise yourself up into the top

2% (by Western standards)? How can you achieve this success?

This fifth secret is all about realising that you cannot have it all,

and that you must pay a big price (give up something) in order to

attain wealth. You need to be crystal clear in your own mind that you

are willing to pay the price, otherwise abandon all hopes right now of

becoming rich.

It is vital that you apply full focus to this very important area if

you are not to drift through life aimlessly.

You Cannot Have it All

So, it's time for some home truths. The first thing you have to

know is that you can't have it all.

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Do You Sincerely Want to be Rich?

Despite what those slick-suited seminar-gurus tell you, every

decision you take in life has a shadow partner - the life you cannot

now lead because you took that decision.

A few simple examples will prove the point.

You take a career decision to become a surgeon; but doing this

precludes you from being a lawyer.

As a woman you decide to marry and have a family. The

consequence is that your career is on hold for a minimum of five

years and more like fifteen or twenty.

You decide to go to the cinema; you cannot also spend the evening

in a fine restaurant.

You decide to give up drinking; you cannot now go boozing with

your pals.

You decide to start thinking for yourself; you lose most of your

'friends.'

Every decision you take has consequences.

Every decision, no matter how seemingly inconsequential, sets

your life on a slightly different course. This is why, as Jim Rohn says,

"Everything matters."

Even inaction has its consequences.

If you decide just to float down life's stream, and the current

sweeps you randomly into the left tributary, you cannot also enjoy the

right tributary. If you sleep all day, you cannot also play your

favourite sport on that day.

This tiny handful of examples should prove to you immediately

that you cannot have it all. It is so obvious that it is hardly worth

saying, and yet there are at least two top seminar gurus on the circuit

at the moment who are claiming that you can. In fact, I'm fairly

certain that I have seen a book and a tape series entitled "You CAN

have it all." Wrong! But far more importantly, every decision you

take to improve your life, no matter how trivial, will have an

associated cost - a price that you will have to pay in order to achieve

that success.

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The price usually involves the sacrifice of one aspect of your life,

in order to achieve more in your main area of endeavour.

Here's a simple example. You're a single guy, and you decide to

spend every evening for the next three months decorating and

improving your house from top to bottom in order that you might sell

it for the best price. This will allow you to realise your goal of

moving up the housing market. You really want a detached house and

have a burning desire to move out of the poverty-stricken terraced-

house neighbourhood in which you live. Great goal! But the principle

is that you can't have it all, so what is the price that you will pay for

choosing this route?

Answer: It will kill your social life for the next three months. No

drinking, no clubbing, no frittering away your time with the mates.

Who knows, you might have met your future wife at one of those

missed evenings at the club, but instead you were home, working.

The pathways of your life divide. You follow one which leads to a

brighter, better tomorrow - according to your best judgement, of

course. The other diverges sharply, blinks and shimmers uncertainly

before fading out to join the countless millions of other 'might have

beens.' You never meet that woman, you never marry and have

children with her.

Another example: Charles sets himself the goal of becoming super

successful; really mega-rich. This man wants £100 million, he wants

it badly and he's going to get it. Now that's a lot of money and far

more than I will see in my lifetime, and I've seen plenty!

Now ask yourself seriously, can this man have it all?

Can he work the demanding 12 hour days, 350 days each year

which are required to achieve this level of success and be a perfect

father who never misses his son's football matches or his daughter's

clarinet concert? Can he be a perfect husband who is always home

from the office by 5:30 to peck his wife on the cheek; who's never

late for a dinner party with friends? Can he shoot for super success

and also be a competent odd-job man who spends weekends and

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evenings tinkering with the plumbing, or installing new work-

surfaces, pipe clenched firmly between teeth?

Let's go further. Can he try for mega-wealth, and also be a 'good

old mate' to a bunch of lads down at the local? Can he play for the

darts' team Tuesdays and Thursdays? Can he say "yes" to a ten day

skiing holiday with his friends? Is he likely to be an active member of

his local choir or amateur dramatics group? The answer is no.

Shooting for this level of wealth requires laser-beam focus. There will

be late night and breakfast meetings; urgent problems to sort out

requiring him to jump on a plane at a moment's notice; international

midnight telephone calls - you name it.

Let us probe deeper. Will others consider him to be a reliable

friend? In other words, are people likely to say of him "Good old

Charlie, he's a real pal. You've only got to pick up the phone any hour

of the day or night and he's there for you." ?

I don't think so, do you?

Charles is on a fast track to super-success; this track is not open to

any old mooch or bum, it requires extraordinary discipline and effort.

It requires 100% commitment; and total dedication to the task in

hand. This level of success commands a high price, not surprisingly,

otherwise every half-witted, unfocused fool in the country would be

doing it.

Whilst we are on the subject, let us ask: "Will Charles have many,

or indeed any, friends?"

Friendship has a high time-overhead, in case you haven't noticed.

You have to call each friend at least once a week and meet them at

least once a fortnight, otherwise they fairly rapidly drop out of your

circle of mates. With only a dozen chums, you will find that most

evenings and weekends, indeed almost every spare moment you have,

will be consumed in meeting friends for a drink, chatting on the

telephone to catch up with all the gossip, coffee mornings, driving

endlessly to and fro from their tiresome houses, dandling their

squawking brats on your knee and going "coochy-coo," letter writing,

e-mails and returning mutual favours.

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Your life is thus reduced to working, sleeping, and entertainment

( socialising). It would not be overstating the case to say that this

describes most people's lives. There is nothing wrong with that, if the

major life-goal you have set yourself is 'to be a good friend to as

many people as humanly possible.' But can you do this and be a super

success? Can Charles shoot for his hundred million, and be the person

I just described? Can Charles have it all?

The answer is tritely obvious. No he cannot. If he is to achieve his

dream, he must pay the price - and the price is a big one.

All Dreams Have Their Price

This doesn't just apply to Charles and his very high goal of making

a hundred million. It is important for you to realise that every goal

you set in life has an associated price which you will have to pay. Big

dreams come with a large, fancy, gold-embossed price tag. Smaller

goals have a cheap supermarket stick-on label, but there is still a price

attached to every dream.

You cannot have it all.

I hope you have taken this on board, and now believe it totally.

You cannot move beyond this point in the realisation of your dreams

if even a small part of you still subscribes to the fantasy of being able

to have it all. You cannot. Neither can you have something for

nothing. You get no results in life unless you pay the price. No free

lunches. No 'emanations from the bountiful universe.' Sorry - it

doesn't work like that, much as we would all want it to. The universe

is only bountiful as long as we put forth the required effort to make it

fruitful. We only get a bumper crop from 'bountiful nature' by doing

the backbreaking work of preparing the ground, planting the seed,

weeding, hoeing and watering. All of this must be done before you

can enjoy the harvest.

I am reminded of the story of the vicar walking through his village.

He comes across a man working in a beautiful cottage garden. He

stops to admire the lovely flowers and says: "I see that you and God

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have done a splendid job on your garden." To which the man replies:

"Yes, you should have seen it when God had it all to himself!"

The Entrepreneur

To make serious money you almost certainly have to run your own

business - and if you have never done this before, you are in for a

shock!

Running a business is like standing on a shore with wave after

wave of problems hitting you. It never stops. It never goes away.

Some waves are tiddlers, some are like tidal waves, most are normal

sized waves.

The variety and challenge in business comes in what particular set

of problems you will face today. Yesterday it was a massive bad debt,

today your supplier has gone bankrupt, tomorrow it will be some

government jobsworth trying to shut you down. Next week it will be a

VAT inspection, then employee sickness, followed by a fire

inspection to ensure you have 3.6 extinguishers to every 19.3

employees. The week after that it’s a problem at your printer followed

in quick succession by your telephone system failing, the alarm

system going off at 2 a.m. and an irate customer threatening to sue

you for something he purchased from an entirely different company

with a similar sounding name...

It just goes on and on. This is part of the price you pay, daily,

weekly, yearly. It has been said with some truth that everyone makes

money by solving other people's problems. I have not even mentioned

the positive army of faceless bureaucrats with a strong anti-business

agenda. The ASA, PIA, DMSB, MOPS, DTI, Trading Standards,

DPA, SFA, MPS, FSA, Inland Revenue etc. etc. You have to be able

to bat away all of these problems and come back for more without it

destroying you. Making big money is all about handling hundreds of

problems. Some easy, some total sons of bitches.

The truth is that many people can't handle this. I don't mean they

are incapable - many problems are no-brainers. I mean that they are

not willing to handle them - to pay the price for success. Most

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people’s emotional bank account runs out long before their financial

bank account. In other words, they can’t handle the endless wave of

problems and so they just roll over.

Another price you must pay is to be alienated from most people in

the society you currently inhabit. Until now, you have probably been

immersed in the warm, weak soup of British society. This will

change. Are you willing to pay this price too?

The Painful Truth

Let me tell you some facts about the UK and its people, in general.

As a race we have many wonderful characteristics. We are tolerant,

kind, easygoing, industrious and have a profound sense of right and

wrong, to name just a few. But there is a character trait of which I am

not proud to be a part. Whilst most people play the lottery, have

premium bonds, do the football pools and pray to get rich ‘by

accident or luck,’ (i.e. for zero effort) they simultaneously loathe and

despise anyone who has made something of their lives and will do

anything to slap down such a person and destroy them. Read the

tabloids if you doubt this. Anyone with more than £10,000 is called a

'Fat Cat' and anyone with a four bedroomed house apparently lives in

a 'mansion.' E.g. 'Fat Cat Robert Smith was unavailable for comment

when we visited his mansion in Surrey.'

If you ever make more than a modest amount of money or achieve

fame, you face the distinct possibility of being attacked, ridiculed,

smeared, and hounded by the press and media. Their sworn mission

will be to drag you down - to find some dirt in your background,

some chink in your armour which they can then use to destroy you.

It's not personal, it's just because their readers want you destroyed.

Why?

Their readers detest successful people because they act like

glitterin