Business Advice from a Son of A...

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I'm looking forward to reading a new book, "Profits Aren't Everything, They're the Only Thing" by George Cloutier.

According to the blurb, "this blunt work will not be for the timid business owner afraid to re-evaluate...". He offers some harsh lessons for those in business, such as "love your business more than your family" and "teamwork is vastly overrated."

Why do I find this so interesting? Because the research I'm doing for my new book based on a survey of 400 wealthy self-made Americans as compared to 400 "middle-class" (under $1 million net worth) Americans bears out a lot of what Mr. Cloutier says.

Indeed, business success tends to flow towards those who are willing to do the most to get it: the hardest working, the most focused, the most cut-throat, even.

To get wealthy, you need one or more of the following things to happen:

  • Be born wealthy or marry into wealth

  • Get very lucky--this is the strategy for those savvy lottery players out there

  • Be extremely talented at something valuable--the route for most who aspire to Hollywood or sports fame (best when combined with "luck" above)

  • Work very hard and put wealth creation first ahead of almost everything else.

Which of these approaches are you counting on?

Last updated: Feb 15, 2010

LEWIS SCHIFF | Inc. Business Owners Council

Lewis Schiff is the executive director of the Inc. Business Owners Council. His latest book is Business Brilliant: Surprising Lessons From the Greatest Self-Made Business Icons.




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