10 things millionaires won't tell you article

yunghova35 · Aug 28th, 2008, 06:14 PM

good read

rxcknrxll · Aug 28th, 2008, 06:22 PM

Originally Posted by PAshortie

My thoughts exactly. Good point about keeping your ego in check.

To me, that's not being an a$$, it's not being a push-over. I guess I should define what I meant by being an a$$. I'm referring to the person that is unwilling to compromise, who disrespects just for the sake of disrespecting. I've read quite a few personal stories about someone meeting a highly successful business person, and they turn out to be a$ for no reason.

Even Trump touts the Me, Me, Me concept. Which I really don't understand. But I do respect it b/c he's highly successful. I recently read a review on Trumps latest book. Now, this is a quote, but the writer said to keep a positive attitude. Then, in the next chapter, it says to take revenge when someone wrongs you? How can you keep a positive attitude with revenge on the mind lol? Revenge takes energy...I'd rather learn the lesson and focus that energy into something positive that will keep my momentum going.

As Yankees said, I believe in being confident and respectful. Add in integrity, and I think that makes for a successful, standup business person.

spelling "ass" with dollar signs...apt. i agree with what you said though. semantics always enters into a discussion like this but at the end of the day, if you're not willing to piss some people off, you're not going to be able to go very far. It just comes with the territory. That's all.

I also do not understand Trump's attitude on revenge. Although I honestly think he may be doing that shtick facetiously. He's an entertainer these days...involved with the media just as often as he is real estate. RE is his bread and butter, but he's having fun being on TV and making millions there also. It adds value to his franchise if you think about it. Kudos. I think it's an act. Although, I do agree with his "be paranoid" angle. If you haven't read Art of the Comeback, it's worth reading. 75% of it anyway is a good read. The rest of it is pure self-indulgence...would you expect anything else from The Donald?

PAshortie · Aug 28th, 2008, 06:23 PM

Originally Posted by fanocks2003

With my own 7 years in business I have learnt, the hard way unfortunately, that sometimes you need to be an "ass" in order to survive. You need to to be "picky" and you need to learn the difference between "curious customers", "curious partners" etc from "the real deal people". It takes some time to notice the difference. When you get that innate sense for what kind of people you are actually dealing with you can easily break the communication in order to avoid waisting time. That can, unfortunately, be considered as being an "ass".

Though I would call it self-respect. We only live here a couple of decades (if we are lucky to live that long), then waisting time on jokers are not one of the most rewarding of things.

But let me say this: Being an "ass" against those who feeds you is the most stupid thing you can do. That is really to be an "ass". Once again, learn to define when something is good and when something is bad.

You brought up some very good points. Good read.

PAshortie · Aug 28th, 2008, 06:53 PM

"ass" with dollar signs...apt.

Some people tend to get offended when others spell the words, so I just substitute with symbols that represent the letters...kind of like when you used shtick

i agree with what you said though. semantics always enters into a discussion like this but at the end of the day, if you're not willing to piss some people off, you're not going to be able to go very far. It just comes with the territory. That's all.

I also do not understand Trump's attitude on revenge. Although I honestly think he may be doing that shtick facetiously. He's an entertainer these days...involved with the media just as often as he is real estate. RE is his bread and butter, but he's having fun being on TV and making millions there also. It adds value to his franchise if you think about it. Kudos. I think it's an act. Although, I do agree with his "be paranoid" angle. If you haven't read Art of the Comeback, it's worth reading. 75% of it anyway is a good read. The rest of it is pure self-indulgence...would you expect anything else from The Donald?

I get what your saying. I havent had to deal with real business issues yet, so maybe my thoughts will change later. I doubt it though. I have rental property but I havent had any confrontations or ill will. Tenants stray outside of the lease and I tax them. They play the "oh I didnt know" game, and I tax them. I've let them slide on one issue so far and we agreed there wouldnt be a repeat offense. If it wasnt for their stellar track record, I would've taxed them lol. I havent had to be an a-hole as of yet. Just a straight-up dude.

Thanks for the reco. I've read the Art of the Deal and thought it was very good. I'll order the Comeback next.

GHVan · Aug 28th, 2008, 08:50 PM

As they say "FAKE IT UNTIL YOU MAKE IT"

rxcknrxll · Aug 28th, 2008, 08:59 PM

Originally Posted by PAshortie

Some people tend to get offended when others spell the words, so I just substitute with symbols that represent the letters...kind of like when you used shtick

I get what your saying. I havent had to deal with real business issues yet, so maybe my thoughts will change later. I doubt it though. I have rental property but I havent had any confrontations or ill will. Tenants stray outside of the lease and I tax them. They play the "oh I didnt know" game, and I tax them. I've let them slide on one issue so far and we agreed there wouldnt be a repeat offense. If it wasnt for their stellar track record, I would've taxed them lol. I havent had to be an a-hole as of yet. Just a straight-up dude.

Thanks for the reco. I've read the Art of the Deal and thought it was very good. I'll order the Comeback next.

i got mine on amazon for $3. good deal

hatterasguy · Aug 28th, 2008, 09:45 PM

As for being an "ass" in business here is a real world example.

Would you steal a deal out from under someone?

PAshortie · Aug 28th, 2008, 10:29 PM

Originally Posted by hatterasguy

As for being an "ass" in business here is a real world example.

Would you steal a deal out from under someone?

Depends on the situation. If I'm involved in it, I doubt it will be underhanded.

If it's something like cutting out a partner after he set the deal in place. No. Things just arent that serious to me.

BTW, I like that forum. I have alot to learn though.

randallg99 · Aug 28th, 2008, 10:35 PM

Originally Posted by hatterasguy

As for being an "ass" in business here is a real world example.

Would you steal a deal out from under someone?

lol, you mean someone buying a car that's worth more than what your paying for it???

a deal is only as good as the people making it. No such thing as "stealing" a deal if two people agree to price and terms regardless of who else is involved in negotiations.

this thread is borderlining too much emphasis on morals and ethics.... it's unethical if you take advantage of people who are incapable of negotiating (ie handicapped)... but otherwise, who gives a shit how a deal comes together if you get what you are looking for.

PAshortie · Aug 28th, 2008, 11:12 PM

this thread is borderlining too much emphasis on morals and ethics....

Not really. Maybe the last post but the majority of the thread has been about being an a-hole when doing business lol. I liked hearing about how others handle themselves when doing business transactions.

Russ H · Aug 29th, 2008, 12:37 AM

The article is written by a freelance writer (Daren Fonda) who is self-employed, and also works for Time Warner.

In the past, I've been interviewed by folks like this for articles in the Wall St Journal, NY Times, Fortune, Smart Money, and Money magazines.

They have an "E" (employee) mindset.

Nice folks, but they only know what they're told.

So while much of the info in the article is interesting (I too like fractional ownership, and many of the other principles mentioned), PLEASE consider the source, and the POV:

A guy who is NOT rich, who works out of his apt in NY city, and who has a regular gig w/Time Warner.

Dude may not even own a car.

Not the kinda guy I'm going to be getting wealth/money advice from on a regular basis.

And not someone who sees the world with the same eyes I do.

But good for laughs, eh?

-Russ H.

rxcknrxll · Aug 29th, 2008, 01:02 AM

right on Russ. In my experience, the author is pretty right on. I know few wealthy people who are content with their resources, for example. E types can be on the money sometimes though (Erin Burnett comes to mind) , although I completely agree with your assertions here.

Rawr · Aug 29th, 2008, 01:06 AM

Erin Burnett comes to mind.

She comes to my mind whenever I watch stocks as well. Is she single?

rxcknrxll · Aug 29th, 2008, 01:13 AM

hehe. One can speculate. She's rock n roll if you ask me.

hatterasguy · Aug 29th, 2008, 02:06 PM

Originally Posted by PAshortie

Depends on the situation. If I'm involved in it, I doubt it will be underhanded.

If it's something like cutting out a partner after he set the deal in place. No. Things just arent that serious to me.

BTW, I like that forum. I have alot to learn though.

I would in a heartbeat, and step over there bleeding corpse to get my check. lol!

kimberland · Sep 2nd, 2008, 10:18 AM

Originally Posted by hatterasguy

As for being an "ass" in business here is a real world example.

Would you steal a deal out from under someone?

In a heartbeat.
If the person is such an amateur
as to broadcast his/her deals
before nailing them down,
he/she is going to f**k it up anyway.
I might as well do it and do it right.
Save grief all around.

'Course this doesn't apply to
mentoring/coaching/consulting situations.

As for being an a$$hole in business (or life),
it is all about perspective.
I was called an b**ch last week
(to my face)
because I turned down a relative
looking for a handout.
The consensus was I had the money,
I should share it.
Well, hell, the relative wanted to buy a bigger house
than he could afford.
Meanwhile another relative had a possible life saving operation
he needed funded.
I said no to the first, yes to the second,
(privately - the first didn't know about the second)
yet I get labelled a nasty piece of work.

fanocks2003 · Sep 2nd, 2008, 11:14 AM

Originally Posted by hatterasguy

As for being an "ass" in business here is a real world example.

Would you steal a deal out from under someone?

Depends on the situation. But I can tell you this. If you cheat on me, then I will find a creative way of making you my bitch

. Seriously. Creative activity is my game.

But I would not even consider stealing from someone I might equally make a partner. But this partner really has to bring something to the table. Either sweet equity (running errands and do the hard, ground-floor work), bringing in well needed expertise without drawing a salary or bringing in a cash investment or any other asset injection to the deal (so as to grow the investment value of the business).

Mostly, everyone has something to bring to the table. If people are young they may not be rich on cash or assets, neither knowledge (some do have great real-time knowledge that is worth a lot even though they are very young). But they can always work their way up through sweet equity action. Always. You need to start somewhere.

Aug 28th, 2008, 06:14 PM	#21 (permalink)
yunghova35 Level: (14) Hyundai Joined: Jul 2008 Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts	Re: 10 things millionaires won't tell you article good read

Aug 28th, 2008, 08:50 PM	#25 (permalink)
GHVan Level: (13) Pontiac Joined: Jul 2008 Locale: Vancouver, Canada Age: 35 Posts: 36 Thanks: 7 Thanked 1 Time in 1 Post	Re: 10 things millionaires won't tell you article As they say "FAKE IT UNTIL YOU MAKE IT"

Aug 28th, 2008, 09:45 PM	#27 (permalink)
hatterasguy Level: (6) Mercedes Joined: Jul 2008 Age: 23 Posts: 420 Thanks: 9 Thanked 21 Times in 19 Posts	Re: 10 things millionaires won't tell you article As for being an "ass" in business here is a real world example. Would you steal a deal out from under someone? __________________ " to buy while blood is running in the streets." Mayer Amschel Rothschild

Aug 29th, 2008, 12:37 AM	#31 (permalink)
Russ H Level: Moderator Joined: Jul 2007 Locale: Napa Valley, CA Age: 47 Posts: 2,348 Thanks: 143 Thanked 192 Times in 120 Posts	Re: 10 things millionaires won't tell you article The article is written by a freelance writer (Daren Fonda) who is self-employed, and also works for Time Warner. In the past, I've been interviewed by folks like this for articles in the Wall St Journal, NY Times, Fortune, Smart Money, and Money magazines. They have an "E" (employee) mindset. Nice folks, but they only know what they're told. So while much of the info in the article is interesting (I too like fractional ownership, and many of the other principles mentioned), PLEASE consider the source, and the POV: A guy who is NOT rich, who works out of his apt in NY city, and who has a regular gig w/Time Warner. Dude may not even own a car. Not the kinda guy I'm going to be getting wealth/money advice from on a regular basis. And not someone who sees the world with the same eyes I do. But good for laughs, eh? -Russ H. __________________ "Control everything. Own nothing." -John D. Rockefeller "Don't confuse motion with action" -Ernest Hemingway

Aug 29th, 2008, 01:02 AM	#32 (permalink)
rxcknrxll Level: (9) Cadillac Joined: May 2008 Locale: Indiana Age: 33 Posts: 211 Thanks: 2 Thanked 10 Times in 9 Posts	Re: 10 things millionaires won't tell you article right on Russ. In my experience, the author is pretty right on. I know few wealthy people who are content with their resources, for example. E types can be on the money sometimes though (Erin Burnett comes to mind) , although I completely agree with your assertions here. __________________ "I'm not a business man. I'm a business, man." -Jigga "The difference between genius and stupidity? Genius has limits." -Einstein

Aug 29th, 2008, 01:13 AM	#34 (permalink)
rxcknrxll Level: (9) Cadillac Joined: May 2008 Locale: Indiana Age: 33 Posts: 211 Thanks: 2 Thanked 10 Times in 9 Posts	Re: 10 things millionaires won't tell you article hehe. One can speculate. She's rock n roll if you ask me. __________________ "I'm not a business man. I'm a business, man." -Jigga "The difference between genius and stupidity? Genius has limits." -Einstein

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