How to Get Rich by Felix Dennis

Question 1

What is the key trait of people who get rich?

Answer 1

Utter determination, whatever the cost.

Question 2

What matters more than ideas in the pursuit of wealth?

Answer 2

Execution.

Question 3

What is considered the most precious thing that riches provide?

Answer 3

Time.

Question 4

According to John Paul Getty, what indicates that a person is not truly rich?

Answer 4

If you can actually count your money.

Question 5

What is a good benchmark for being considered rich in terms of net worth?

Answer 5

Over $80M or over $10M in liquid assets.

Question 6

Why do young and penniless individuals have the best chance of getting rich?

Answer 6

They have nothing to lose.

Question 7

What does making money consume according to the text?

Answer 7

Your life.

Question 8

Complete the quote: ‘Once begun, the job’s ______.’

Answer 8

half done.

Question 9

What must you learn to shrug off to become rich?

Answer 9

Failures and envy from others.

Question 10

What is necessary for getting rich?

Answer 10

Sacrifice and willingness to fail.

Question 11

What is the single biggest impediment to amassing wealth?

Answer 11

The fear of failing.

Question 12

What can working too long for other people do to your desire?

Answer 12

Blunt your desire to take risks.

Question 13

What is working for others described as?

Answer 13

A reconnaissance expedition and an apprenticeship.

Question 14

What should you marry when choosing what to work in?

Answer 14

Your inclinations, aptitudes, and opportunities.

Question 15

What is luck a result of?

Answer 15

Hard work, practice, and seizing opportunity.

Question 16

What should you never be afraid to do in business?

Answer 16

Emulate a good idea.

Question 17

What is the ultimate factor that makes you rich?

Answer 17

Ownership.

Question 18

What is the recommended approach to thinking and acting in business?

Answer 18

Think big and act small.

Question 19

What happens if you start to believe you’re infallible?

Answer 19

You’re in trouble.

Question 20

Is quitting dishonorable?

Answer 20

No, quitting is not dishonorable.

Question 21

When is quitting considered dishonorable?

Answer 21

When you believe you can still succeed.

Question 22

What is essential for accomplishing anything?

Answer 22

Self-belief

Without self-belief, nothing can be accomplished.

Question 23

Who is attributed with the quote ‘Luck is preparation multiplied by opportunity’?

Answer 23

Seneca

This quote emphasizes the importance of being prepared to seize opportunities.

Question 24

What does H.L. Mencken suggest about the value of money?

Answer 24

It is often overestimated

Mencken states that the chief value of money lies in its overestimation.

Question 25

What must one do to become rich according to the text?

Answer 25

Become an owner and try to own it all ## Footnote Owning assets is emphasized as a key to wealth.

Question 26

What financial strategy is recommended regarding costs and bonuses?

Answer 26

Keep costs down but give generous bonuses ## Footnote This approach balances frugality with rewarding talent.

Question 27

Where should one look to become rich?

Answer 27

Industries where the money is, particularly small but quickly growing spaces ## Footnote This suggests seeking out lucrative opportunities.

Question 28

Who is considered richer according to the text?

Answer 28

The young are richer than anyone older ## Footnote This suggests that youth can provide advantages in wealth accumulation.

Question 29

What should you do to make yourself independent?

Answer 29

Cut loose negative influences and naysayers ## Footnote Independence is linked to surrounding oneself with positive influences.

Question 30

What action is encouraged regarding starting ventures?

Answer 30

Start now ## Footnote Emphasis is placed on the importance of taking immediate action.

Question 31

What is recommended about hiring talent?

Answer 31

Hire talent smarter than you and delegate ## Footnote This strategy promotes leveraging the skills of others.

Question 32

What should you do with your annual take?

Answer 32

Share it ## Footnote This indicates a collaborative approach to success.

Question 33

When is it advisable to sell according to the text?

Answer 33

Before you need to, or when bored ## Footnote This suggests proactive decision-making in business.

Question 34

What mindset should one adopt regarding fear?

Answer 34

Fear nothing and no one ## Footnote This promotes a bold approach to wealth creation.

Question 35

What is the ultimate goal suggested in the text?

Answer 35

Get rich and give it all away ## Footnote This implies a focus on generosity after achieving wealth.