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What Rich People Know and Desperately Want to Keep Secret
It is natural for a man to hide his source of success. The tendency to make the source a secret is even higher when it comes to making money. This is why the rich would not want to reveal the secret of their financial success. But the good news is that the whole secret is out in this text titled “What Rich People Know and Are Desperate to Keep Secret”.
Brian Sher, the author of this text, was born in South Africa and moved to Australia in high school. Cher holds a Diploma in Marketing from the University of New South Wales.
His subsequent business trips abroad sparked his interest in consulting and after spending two years in Los Angeles, he returned to Australia and set up his own company specializing in marketing and business growth strategies.
Working with the business, one of his main clients offered him a partnership in a new venture – Vision Publishing. Under Cher’s leadership, Vision Publishing experienced phenomenal growth. His extensive network and strong reputation as one of Australia’s most dynamic and exciting marketers has made him an active and sought-after business coach.
According to the author, most people dream of being rich; they imagine what it would be like to have more money than they know what to do with. Sher adds that for a brief moment they leave their reality by playing “make-believe.” He says that for most people, that’s the furthest they’ll ever go with that dream, and they’ll quickly revert to inactivity for fear of stretching their limits too far.
Sher argues that relatively few people embark on a different journey, a journey so challenging and demanding yet so exciting that it brings new life and new meaning. He adds that ultimately, unfortunately, many of these dreams are also dashed as a result of not knowing what rich people know.
In doing so, this author shares with you in this book the basic yet powerful principles of success and takes you on a journey to personal and financial wealth. Cher reveals what the world’s richest people know that everyone else doesn’t and offers you tips on how to enrich your life and improve your bottom line. According to him, businesses and people succeed because they get the basics right, and in most cases not because of luck, smart finances, extreme technology or running ahead of the rest.
This book has six parts of 44 chapters. Part One focuses generally on the fundamentals of success and contains four chapters. Chapter one is based on what wealth is and what rich people do. Cher says that almost everyone you meet wants to get rich instantly. He teaches that the truth is, however, that being truly rich in life is not just about having more money.
Cher emphasizes that being truly rich in life means having many other things more important than money, such as more fulfilling and rewarding relationships, good friends, a fulfilling career, and so on.
On how rich people make all their money, the author reveals that they do this by doing the right and profitable business; by inheriting money; by putting what they have into financial investments; by honest work for money and its use; and finally by stealing it or cheating others out of theirs.
Chapter Two examines your first step on the road to wealth. Here, Sher says, in everything we do, we have to consider where we’re coming from, what business conditions are now, and what we need to know before we start. He explains in detail how he discovered this reality the hard way in the course of his own business and recounts his experience.
In Chapters Three and Four, Sher discusses why more businesses fail than ever succeed, and four important advantages your competitors can never have. These advantages are your knowledge, marketing, people and systems.
Part two is conceptually summarized as “You” and covers 14 chapters viz. chapters five through 18. Chapter five is based on the starting point for all riches. Here, the author says that one thing he discovered early in his business career is that there’s no point in reinventing the wheel. Sher emphasizes that for this reason, you should learn everything you can from successful people in the form of reading their books, learning about their lives, talking to them, etc. He reveals that these opportunities provided him with much of what he knows about success now.
Sher says that as a result of studying successful people very well, he has been fortunate enough to discover many of the common habits and characteristics they have. He says that the richest and most successful people are the most rounded people. Sher teaches that he has discovered that most successful people have 36 personal qualities that he likes to call “Personal Foundations to Wealth.”
Some of these qualities are: practice perfectly to become perfect; with an open mind; flexibility; focus on continuous self-improvement; I dream big dreams; and with a clear sense of direction. Others are: setting goals and writing them down; to be unique; communicating with the right people; developing self-discipline; embracing failure; making quick decisions; to become self-employed, etc.
In chapters six through twelve, Sher analytically x-rays concepts of education as the only shortcut to success; the need to dream big; must be unique or nothing; need to ask for help; trying not to be Poor Jack but Rich Michael; how to get everything you want in life; your need for something much more valuable than money before you get rich.
Chapter 13 emphasizes that passion is the secret weapon of the rich. Here the author says that success is rarely an overnight phenomenon. Sher explains that what you see as success is invariably the result of years of effort; crashes and restarts; obstacles removed and problems avoided. The only things that can sustain such a strong drive to succeed are passion and dedication, says the author.
Cher claims that you should find any rich or successful person and they will show you a person who absolutely loves what they do. He stresses that it is impossible to achieve lasting success unless you love what you do, adding that every rich or successful person he has met has said this. Cher adds that passion must be constantly tempered with dedication if one is to succeed.
Chapter 14 is based on the fact that rich people feel alive and excited because of risk. Here the author says that most people avoid risk like the plague and see it as a bad thing. Cher reveals that the rich don’t think this way, as they even thrive on risk. He says that successful people make a conscious decision to overcome their fear, to take responsibility until they ultimately win. Facing and accepting risk gives you a sense of purpose and a set of feelings you just can’t describe, and motivates you to find the next push, the author argues.
Chapters 15 to 18 focus on the need to take responsibility; the rich embrace failure the most; speeding or leaving the road; and always self-employed.
Part three deals with the broad concept of your marketing and contains eight chapters viz. chapters 19 to 26. Chapter 19 is based on the machinery that drives your business. According to Sher, marketing is the second critical area of your business here; the machine that drives your business and the skills that make or break you. He says that’s because when used correctly, marketing can be the biggest profit-making tool you’ll find in business. Cher teaches that superior marketing only comes when you truly understand that marketing is about focusing on your customers’ needs, not your product or service.
In Chapters 20 to 26, the author also turns his analytical spotlight on the further definition of marketing; why most people never get rich; the death of market share; making it easier for customers to buy; how advertising can kill a business; 50 percent of something is better than 100 percent of nothing; and the magic button for business success.
Part Four is conceptually woven as “Your People” and contains five chapters, that is, Chapters 27 to 31. In Chapter 27, based on how to get your employees to fall in love with your company, Sher says he always stressed that your people are your greatest asset and one of the four critical ways you can gain a competitive advantage.
According to him, if your people are positive and happy to work for you, you will surely be ahead. The author emphasizes that no one can compete with people who really enjoy their work, have fun with customers and really care about them. Your competitors can’t copy such a brilliant culture overnight, Sher reveals.
In Chapters 28 through 31, Sher examines the concepts of how to hire the right people; finding good people, then keeping them; frequent use of all your resources, including your entire brain pool; and one person’s surplus if two people think alike.
Part five has as its general subject your systems and contains nine chapters viz. chapters 32 to 40. Chapter 32 is about why systems are so important. The author says that systems are one of the four competitive advantages you have. He adds that by drawing on your experience, learning from trial and error, or using precise planning, you can use systems to increase your efficiency.
In Chapters 33 through 40, Sher covers concepts such as how to make a complex look easy and sell your business quickly and easily; “Leverage” as a word that makes people millionaires; focusing on money-making activities and delegating to others; tendency for problems to happen once; and how to measure performance. He also discusses the need not to gamble your winnings; the need for everyone to know your business and first look for acres of diamonds under their feet.
The sixth part is called things to remember and contains four chapters, that is, chapters 41 to 44. Chapter 41 is based on the need to realize that growing up too fast can mean getting too big for your boots. According to Sher here, while it’s fun and exciting to grow, growing too fast is also dangerous for a business.
In Chapters 42 through 44, this author X-rays such concepts as the possibility of the word “Trust” being a four-letter word; the need not to go it alone; and the inability to create successful people.
In the realm of style, the text establishes its towering presence. Cher divides the book into 44 chapters and does a brilliant job with them (the chapters). In addition to providing the necessary background with his personal experience, he also cites various authorities in each chapter to support his messages. Citing these sources easily testifies to the depth of his research.
The beauty of the book is also that it is written in a language that does not hinder the understanding of the main messages. I am particularly fascinated by the facts provided in Chapter 28, based on how to hire the right people; the need to focus on the people skills of prospective employees in the hiring process. This idea is the most effective recruiting strategy because it is based on testing the emotional intelligence rather than the IQ of the prospective employees. This is good because research shows that it is easy to teach people technical skills, but hard to teach them soft or human skills.
The use of black and gray colors on the outer front cover of the book reinforces the subject of financial knowledge about wealth and its tendency to be hidden from the rich. The black area symbolizes mystery and ignorance, while the gray area stands for knowledge, because “gray matter” means “intelligence” or “brain.”
However, in chapter one (page eight) it says that one of the ways rich people make their money is by stealing it or cheating others out of theirs. This shouldn’t have been listed in the first place because the purpose of the book is to educate people on how to be rich the right way, not through criminal means.
Also chapters like one and 12; two past five; and 19 and 20, respectively, seem repetitive, each of the two in each pair being almost conceptually redundant.
Overall, the book is a good job, a one stop shop for intellectual variety.
This book is an essential companion for anyone who wants to become rich by knowing the secret of the rich.
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