About the author:
Harvey B. Mackay is a famous businessman, a journalist specializing in union issues.
He is the CEO of Mackay Envelope Corporation and the author of: Dig your own well before you die of thirst
A collection of lively, intelligent and practical lessons applied in business and in life.
Chapter 1 – “I got 15,000 tickets to tonight’s football match”
When I was eleven years old and won the most ticketed prize for the St. Paul Saints in the opening ceremony. I sold a lot of tickets because I told people that if I bought my tickets, I could take them into the dressing room to meet the players, because my father is a member of the local press association. But unfortunately I didn't ask him in advance, on the day of the match he was busy with other work. We don't have access to players. The audience's trust in me is just zero.
Anyone can make a sale by exaggerating the truth a little. But it cannot be called a success if only the first order is sold. In the language of advertising: "Creativity will get a lot of money, too much calculation will lose money". You may not care about your customers, but they are always watching you and the more successful you are, the more different you are and the more they seek revenge.
Chapter 2 – Lessons on the art of selling
Lesson 1: It's not how much the item itself is worth, but how much people value it.
Our perception of the value of an item is not from its intrinsic value, but from the demand from those around us. So, before providing, the first thing is to create demand. Marketing is the art of creating a context in which more people around want to buy it.
Lesson 2: Proposals, no matter how attractive, still have weaknesses
The Ghermezians proposed a $1.5 billion investment in 50 acres of wasteland on the outskirts of a state. Really attractive. They assume that they have the support of the governor of the state, which is enough. Mistake! Politicians have their clients, is this what their customers - the voters - want, for them to continue to be supported in the upcoming election?
Lesson 3: Knowing a little about the customer is as important as understanding the product in detail
Politicians only support proposals that are supported by the public, so it is necessary to create a trend among voters in favor of the proposal. This means that you need to create professional public relations. Understanding customers means understanding what they want. Maybe they need your goods, but it could also be anything else that you need to care about a person.
Lesson 4: Customer profile with 66 information
We are always getting to know other people, especially those we need to convince. It is the nature of the buyer to be skeptical and ready to criticize your item. That is their obligation. Iacocca asserts: "Those who do not understand others cannot sell goods". So I built a customer profile with 66 information about background, education, family, job, hobbies, lifestyle...
Lesson 5: Continue about the profile 66 information
Through our 66-informative profile, our salespeople became extremely close to their customers since their birthdays after greeting cards, we were able to chat with customers about the school they went to. learned about their favorite sport… created a bond, and from there we got important sales contracts.
Lesson 6: Personal proposals will be focused on individuality, not on proposals
As a salesperson, negotiator, manager or entrepreneur, the common challenge is to make the other party see it in their favor by being interested in our proposal. The most important point is to understand the personality of the partner.
Lesson 7: Racial prejudice, religion and jealousy always exist
In the past, salespeople had to be of the same race or religion as the customer group. Now everything has changed. But if you're not sure you understand your customers then stay home and find someone else who knows the local better or why don't you identify yourself as a local.
Lesson 8: Meeting difficult customers
A good salesperson is one who can sell orders and, moreover, sell to someone who has previously purchased similar items from another seller. Preferably from a referral from a former client who knows you well. For difficult customers, you will ask the front desk or secretary to arrange the call after you have sent the letter first. During the call, please present briefly and fully in the shortest time and persuasively. Then send a letter by post to thank and reiterate the content of the exchange. Be patient and repeat.
Lesson 9: Forming your own guild
The hometown council, the business association, with a limited number of members, having dinner together, playing sports together, exists for the sole reason of creating a friendly environment to make doing business easier. If you are not a member yet, ask someone you know to introduce you to join.
Lesson 10: Short notes, long benefits
Short letters, handwritten, stamped, and mailed to the same event, event, or meeting date, take just a little longer. The point is in the perception and courtesy to remember the customer's name and personal concerns. It is one of the factors that contribute to success.
Lesson 11: Second potential place to find new business
If 20% of your customers bring in 80% of the revenue, in another role you are also 80% of the revenue of 20% of your supplier's customers.
My suppliers all receive small letters from someone, me.
Lesson 12: What salespeople but not entrepreneurs all know
A headmistress of a private school, always trying to memorize the names of more than a thousand students in the school. If there is a new student, she will memorize the name through pictures. On the first day of school, she greets each student by name as soon as she gets off the bus. Imagine how secure the boys and girls are on the first day of school. Parents get a sense of how much the principal cares for each student. The principal is not only an educator but also a great salesperson.
Lesson 13: Pay attention to the time, don't pay attention to the clock
The headmistress memorized the names of more than a thousand students not because she had a gift or a super memory, but because she knew what needed to be done, it was not enough, and had to develop a specific plan for the job. She locked herself in her room every night, for a week, burying her head in a pile of school cards.
A good salesperson is remarkable in that, the customer does not consider him a seller, but an indispensable reliable consultant, an employee of his but not having to pay a salary. Therefore, sellers have to spend a lot of effort and time to care about customers.
Lesson 14: If you don't have a goal, you can't do anything
Goal setting is a form of long-term control. Your plans and goals don't have to be complicated. Some individuals or businesses set basic goals but just sit still and operate in moderation. Writing down your goal is the only way to add the necessary solidity to your goal, forcing you to do it.
Lesson 15: Be confident, even when no one believes you
From the time of Ancient Greece until thousands of years later, it was still believed that humans could not run a mile in 4 minutes. It is said that due to the human bone structure, the resistance is too great, there is not enough air in the lungs etc… But those things are wrong. A year after Roger Bannister hit the 4-minute record, dozens of other athletes have already achieved the record. That's not a spike in training
or human body structure. What changes is attitude. Bannister believed in himself and changed the world. If you believe in yourself, there's nothing you can't do. Never give up!
Lesson 16: Find your role model
Think about following someone you admire. Bannister and stars in other fields are also constantly looking for role models for them. They learn, follow, and compete, even surpassing their role models. They constantly challenge themselves to find new challenges. Having overcome one pattern, they continue to look for other patterns. They reach their own peak and again set new heights. A best way to evaluate yourself is to have confidence in yourself, try to keep up with your idol.
Lesson 17: Let's dream
Daydreaming, fantasizing about some kind of success is one of the most effective ways to achieve personal goals. Human existence often depends on dreams into the future.
Victor Frankl, a Nazi concentration camp survivor, said: “Others have lost hope. And I still dream. I dream of the day when I can stand here, tell you… I have never stood like this before, never seen you, never talked to you. But in my dream, I stood, and said these words a thousand times. Let's dream!
Lesson 18: The simplest, cheapest and most often overlooked advertising method
Do you know how many people work on tall buildings? How many people accidentally look out the window at one time or another?
Paint your name, or company logo on the top of the trucks. The cost can be zero. We've been doing this for over ten years and the whole area knows us as a company with our name on the back of a truck.
Lesson 19: Show me the guy who thinks he can do everything himself, I'll show you the fastest sale in the world
All you need to do is make him think it was his idea.
Chapter 3 – Lessons on Negotiation
Lesson 20: Smile and say "No" until your tongue bleeds
Is not. When you say this word, the next day you will be surprised at the changes in the terms of the contract. Time is always the enemy of the seller, not you. The longer you delay the decision, the more time you have to spend your money, more control over the terms of the sale, and thus the more favorable the terms will become for you.
Lesson 21: Find “fake” buyers
Let's say you are looking to buy a house, a business, or an item of great value. Make a lot of buyer copies with you, ie hire fake buyers.
If seven out of ten times a seller encounters seven different buyers, the seller either immediately revises the price or begins to flinch. You take that information as the primary means of negotiation.
Lesson 22: There's no such thing as "Out of stock"
When you want to book the best hotel during the peak of travel. Call the hotel manager or the person in charge of reservations directly and tell them: “I know, your hotel has five hundred rooms, and it has five hundred registered guests. But surely one of his five hundred guests will have a change of plans or something unexpected that cannot come. So what I'm suggesting is that you put my name on the top of the waiting list. I will send the deposit first, give me a call. I will remember him on a hundred other occasions.” Then leave your name, phone number, hang up, and transfer the deposit. They will definitely call you back.
Lesson 23: Visiting your banker
The story of German capitalist Herr Schwan meets banker Mr. Wittman, a tennis and Opera enthusiast. During the meeting, Schwan talked endlessly about tennis and Opera. At the end of the day, Schwan rose from his chair; Wittman stood up to see off the guest, confused, and reached for the file that Schwan had left on the table: "You want to talk about the mortgage, don't you, Schwan?" "Mortgage loan?" Schwan turned to ask the aide who was with him, as if he didn't know anything about borrowing. Wittman continued to make offers, the "deal" took place at the elevator store, on extremely favorable terms.
Lesson 24: The most powerful tool for a successful negotiation is the ability to leave the table without any agreement.
We do not give in to demands. We are sober, ready to leave when the agreement is not satisfactory. Don't let the message of failure haunt you. The deal usually won't go bad once you leave the room. Remember to leave the negotiating room and apply this lesson well, and you will have the opportunity to return there on more favorable terms.
Lesson 25: “Call Mr. Otis”
A customer enters a store to buy a car, he negotiates the price with the salesman. The salesman said: “Our sales manager will certainly accept your proposal. I'll give him a call." And the salesman picked up the phone and called: “Call me Mr. Otis…call me Mr. Otis…” (But there was no Mr. Otis). The emotional customer was about to reach an agreement, called his colleagues, his wife was back in the chair, and the son was dancing in the chair. After a while, the salesman said: “Mr. Otis did not accept your offer, even raised the price.”
If he decides not to buy a car anymore, his wife will be disappointed, his child will cry, and his colleagues will laugh at him.
Lesson 26: The most important clause in any contract is the one that is not in the contract
That is, need to deal with honest people.
The second is to have the right to review all books, including tax books, newspapers, etc. related to the contract, to avoid fraud.
Lesson 27: Agree to reduce disagreements
Unprofessional people often say there is no need to contract, just believe in promises. To these people, I will immediately send them a letter the next day with the content thanking and stating the agreement. It is a gentle, friendly letter and also a proof of future changes.
Lesson 28: The longer they make you wait, the more they want to do business with you
Pay attention to latecomers. If you are too cautious you could misinterpret the other person's intentions, and miss out on a profitable trade. Pretending to be different or not paying attention to the hours are just some of the ways a shrewd negotiator often uses to make you believe he's not interested in the deal.
Lesson 29: Only burn the bridge when you are very good at swimming
Bob owns a chain of hotels, and the New York insurance company holds a mortgage on a first-class hotel in that chain. The insurance company resented Bob's late payments or nonpayments. They intend to take over and run that hotel. Bob replied, “Okay, the parking lots are owned by me, I will put a high fence around the parking lot, and there will be no parking around here.”
In the end, the New York insurance company decided to live with Bob's late payment practices.
Lesson 30: Make decisions with your heart, you will receive a heart attack
In 1971, the International Basketball Federation created a negotiating table from which each member, myself included, could no longer escape. It's the commitment of revenue. Everyone in turn committed very warmly. Pressure from the people in charge, I also want to say “yes”. But I said "no". In a moment when your mind is clouded, nothing has more devastating consequences than a decision made with emotion.
I didn't believe in the trick they used to get the members' commitment, it made me question their plan and in the end I got it right. The league was shut down after a losing season. Be wise and courageous to say no.
Lesson 31: Don't buy things in the office that only have chandeliers
The office has chandeliers and is very impressive. Every day during the presidential campaign, many people come to this office with donations, and then carefully write their requests on a beautiful piece of paper, often wanting to be ambassadors or deputy ministers.
But before deciding to invest, consider going beyond the proposal, even though it seems reasonable, but in the context of too much, get out of there quickly.
Lesson 32: Everything is negotiable
Some well-known names in American industry may also be swallowed up by other companies. Fortresses that cannot be attacked like AT&T are also broken up and sold in pieces. That is not unusual. Anything can become a sale. This transaction is also likely to succeed when both parties find it beneficial. No matter what you're trying to buy or sell, you have to put yourself in the other person's shoes to see where the deal benefits them.
Lesson 33: The “buyer – seller” battle
Seller's weapon: Grasp customer information, gradually close the gap, build a name, change tactics, find weak points of buyers, persevere, quickly issue ultimatums. Buyer's Weapons: Stunts, distance tactics, avoidance, confusion, humor, gentle argument exhausting sellers, ambushes, ultimatums.
The one with more information, the perfect plan, the better skill will win this war.
Chapter 4 – Lessons on Management
Lesson 34: The biggest mistake a manager can make
Americans, whether partisan or from different backgrounds, can get together, as long as there's a good reason. This is what a leader needs.
According to Fallon, what people turn to is not money, but recognition, appreciation, and creative freedom. You give them what they need, and then they give you what you need: the best product.
Lesson 35: When a person with money meets someone with experience, both money and experience are valuable
When I bought the envelope company, at the end of the first year, the employees started campaigning for unions. I remember my father's words: "It doesn't matter how many cartons of milk you spill, as long as you don't lose the cow". Therefore, I am willing and quick to correct small mistakes in the process of achieving the final goal. As a result, I agreed to increase union costs.
Lesson 36: Good news is always easy to receive. It is important to receive bad news quickly
Good managers often walk around the company and are the first to receive the good news. And great leaders are the first to receive bad news. You often encourage bad news to be told before it turns bad. True professionalism is when you are well aware that the best information for the business is not in the report, only when faced with feedback and unfiltered from customers and employees, that is extremely important. wonderful.
Lesson 37: Throw it on the floor
I have a simple way to force myself to do things I don't enjoy. That is, briefly describe it on a yellow piece of paper, lying on the floor next to the desk. So that when I get to the desk, I have to be annoyed, go around or step on it. That forced me to finish the boring job quickly.
Lesson 38: Treat suppliers like customers
If you overcharge, you still get paid, but only once, and never again. The way you pay your bills reflects who you are at work. Whether with the person who painted your house or with the company that sold it, you will always be grateful for the prompt payment of your bill.
Lesson 39: The Renaissance was a renaissance
An organization, especially in the manufacturing industry, needs to have two talents: the sales person who brings the orders back and the manager who fulfills the orders.
I am not good at domestic affairs, I hired a reliable person to run the factory, put him on the position of president of the company. He does this much better than I do. On the contrary, I do a better job in sales.
Lesson 40: Don't play the villain yourself
When your image in public is a bright smile, well-dressed, majestic in a project presentation, stand out in the press about the future of the company. You need someone to help you make and execute tough, stingy, irregular decisions, layoffs, protest against unions, reduce breaks. Disapprove of his behavior, but actually you understand very well and that's why you hired this person.
Lesson 41: On the other hand, when you have to play a cruel role…
The stronger and more hungry for success, the more indispensable the militaristic element in the management board. This personality is usually located in the position of a sales manager or production executive. Your subordinates may not love you, but they will always respect you. Building this style requires you to let go of a lot of emotions. This isn't a top recommendation, but if you've chosen, stay on the right track.
Lesson 42: Small details are not only worth big, but worth everything
You don't need to win, you just need to make fewer mistakes than your opponent. You must demonstrate leadership that conveys a sense of the importance of every little detail to everyone. But if you don't respect it yourself and don't consider it important, it will have no meaning at all. Something is never important unless the boss makes it important. Your boss's way will become a role model.
Lesson 43: Recognizing successful people
The person who knows he is successful will be even more successful thanks to an alliance of people who can not only keep up with him, but can also teach him many new things.
If you are looking for a partner, then consider not only themselves but also his fortifications. Without good staff to support, it is not a good environment to promote yourself.
Lesson 44: The best employee's most productive time is the time to sit and stare at the wall
If you see an employee just sitting and looking at the wall. That's when they are thinking, and this is the hardest thing, the greatest value for each person.
THINK! Don't extinguish, encourage.
Lesson 45: Timely initiative brings joy
When you feel the work pressure increases significantly and lasts, the level of concentration decreases. That is the time to organize parties, picnics, give tickets to sports or concerts for employees.
Please pay attention and take prompt action.
Lesson 46: Standing strike?
Japanese workers often organize strikes by wearing black bandanas, but continue to work. The factory is still operating normally, productivity has not decreased, workers are still working to receive wages. They still negotiate with the owners without stopping working.
The result of the strike were some terms of agreement on disagreements that were no different from production strikes, only they passed up the opportunity to yell at each other directly at the negotiating table.
Lesson 47: Only practice doesn't make you perfect, perfect practice makes you perfect
The famous singer Artur Rubinstein once said: if he misses a rehearsal, he himself will realize the poor quality of the performance; If you skip two episodes, the critics will notice, and if you skip three episodes, audiences will notice.
The moment I'm so confident I can rest, that's when the competition finds a way to get ahead. Hire people who make learning an essential part of life.
Lesson 48: Trusting experts…to make mistakes
There are two types of experts, and it is important to distinguish clearly. The first type is the experts who make things happen, and the second type is the people who TELL you what will happen. Take expert advice of the first type and be extremely cautious. With the second group, these people are trustworthy only when you need to know the cause of something that HAS happened, not what WILL happen.
Lesson 49: You are not tired of employees who have been fired, but because of those who are staying
This cannot be written down and placed on a desk, but needs to be inculcated in the mind as a manager.
Lesson 50: The most effective way to reprimand
It's best not to blame anyone, but it's inevitable. I sat comfortably in my spacious room for the assistant to call the error-prone employee with the message: "Speak softly, I have never seen my boss so angry", and let the employee sit. waited half an hour for him to reflect on his mistake and soak up his boss's frustration.
I stood up, angrily pointing at my chair, “come and sit,” I sat opposite, “now tell me, if it were me, what would you do?” This adds to the burden of their mistakes. I don't blame them. They do it themselves.
Lesson 51: Don't let employees, especially excellent employees, choose their own successors
When a great employee is about to change jobs, no matter who the employee recommends to replace, you just smile and cross that name off your list. Since that employee often nominates someone with a tendency to fail, their legacy stands out even more.
Lesson 52: Increase your chances of attending seminars, reduce your salary increase
Send a few key employees to conferences and seminars and ask them to report on their participation. It means that you always pay attention and acknowledge their contributions, creating more motivation to work for them without spending too much time and money. That's what needs to be added to the company's employee reviews and rewards.
Lesson 53: How many salespeople do you have?
Everyone at the company is imbued with the marketing strategy. At the most convenient parking spot near the entrance of my company, I hang a sign: "Dan for (employee's name) - salesperson of the month". There's a sign outside my office door: "If you know of a place where termites can be found, please come in!" In the meeting room, there is a sign that says: "Nothing can interrupt the meeting, except for calls from customers".
Lesson 54: Get bored quickly
Professional managers can do the same thing over and over, but most entrepreneurs can't because they get bored quickly. This lesson is about entrepreneurs.
Entrepreneurs can communicate confidently, have authority at work and inspire around. Entrepreneurs scratch before it itch, fix before it breaks, love to seek a challenge. But entrepreneurs have limitations, you need to find yourself someone to help handle day-to-day work, attention to detail, things related to business finance.
Lesson 55: Ask the elderly
Often the ability to listen is not an entrepreneur's strong point. The elders in the company, even though I didn't follow their advice, were enough of a calm and safe influence on me. There are plenty of people who can help if we ask them. You may have to hear more than you speak, but they certainly won't hurt you.
Lesson 56: Knowing when to work hard or not is equally important
Stephen Leacook said, “The harder I work, the luckier I am.” Billionaire Carlson has his own working principle: the first five days of the week are the time to keep up with the competition; Two weekends are the time to get ahead.
But in my opinion, you don't have to be a workaholic to be successful. It is people who work erratically who are the best at dealing with overload. It's important to know when to let loose and when to put in the extra effort that will help you increase your productivity and increase your lifespan.
Lesson 57: Owning even 1% is enough to create greater value than operating 100%
To stay in business, you need executive skills, and people who are good at this skill are often well aware of the value they bring.
They have ownership. You will give them 1%, not much, only 1% is enough to satisfy the desire to be an owner, not an employee. Or accept to let them go, or lose more important things.
Lesson 58: Dig a well before you feel thirsty
Judging by Scott's efficiency in running the company, I offered him a share of the stock, greater than 1%, major competitors could not entice him. Would that be better than waiting until I had to?
Lesson 59: Treat employees like customers
Entrepreneurs often see themselves as visionaries, but rarely see their employees as potential customers for long-term goals, only seeing them as robots. This way of thinking is completely wrong. Know what they're good at, show them your admiration and care to make them friends, and they'll contribute to your long-term success.
Lesson 60: How to get fired?
If you work for a boss who is never satisfied, or in a large, scandalous company, you need to prepare to leave every day. Find a new place before you get fired, you have to anticipate this, being fired can be a good opportunity for you, even if you don't feel it at the time.
Lesson 61: Problems can't be solved until you admit they are
This is the first rule to quit drinking, enlighten thousands of lives. Thousands of others cannot become enlightened, because they are difficult to change.
Today, product recalls need not only to be on time, but also to be real-time. One thing that professional traders need to learn early on is that in the market, don't throw away medals and courage. The market offers only one prize: Money.
When you don't make money, skydive! So fast!
Lesson 62: If you can use money to solve a problem, then you don't have a problem at all
When faced with a major error, most people get caught up in their emotions. Don't get frozen there. Take action quickly. If there is a way to use money to fix the problem, hurry up, do it.
An important customer is extremely angry because your delivery is overdue. The solution is: Money. Inform them immediately that this shipment is free. Take the loss, or have to find a new customer, and let an important customer spread a bad reputation about him everywhere.
Lesson 63: No application is completely worthless
Hiring the right people is a manager's most important ability. The owner is the buyer, and the candidate is the seller. Resumes, interviews, letters of recommendation, contacts are sales tools. You should remember that the tight recruitment, through many stages, takes a long time, it is better than having to be fired due to improper recruitment. Interviews, live chats, social activities with candidates, etc. are the steps that I use to recruit employees.
Lesson 64: Recruitment test
Ask yourself, how do you feel when this person does not work for you, but for a competitor?
Lesson 65: To be Santa, your sled must be able to pull many trailers
I decided to give a chicken for Christmas to each employee. Generosity is not the problem, remember that this act will create lasting traditions (even if your company has many employees later).
Lesson 66: The best way to save time
That is spending more time on time control.
Lesson 67: Don't be angry and don't be too calm
When it is not possible to follow the best advice to forgive your enemies, then the second best advice is to forget them. The only and true revenge is not to let the enemy make you destroy yourself.
Lesson 68: Understanding the enemy
Understanding your competitors is just as important as understanding your customers. Is there any weakness of your opponent that is your strength? The solution is to always collect as much information as possible about your competitors and then take action accordingly. The current rivalry no longer exists.
Lesson 69: Don't let your opponent's reputation scare you
General Motors, IBM are the leaders. But the Japanese, Microsoft are not afraid of the legends looming in front of them. They did not need to imagine the horrors of the giants, but only attacked.
Chapter 5 – Gathering
Gluttony 1: Gratitude is a quick-forgetting emotion. Don't expect gratitude. On the contrary, hatred and love are eternal.
Gluttony 2: If you have a good idea, that's fine. One idea is not enough, you need to have many good ideas.
Gluttony 3: When you can afford to buy a super car, you make a strong impression if you just buy a regular car.
Takeaway 4: The secret to talking to celebrities is to avoid fan syndrome, talk about their hobbies like you would with the average person.
Gluttony 5: The best research and development method is keyboard typing.
Gathering 6: Don't let the "ego tendency", the optimism die out in you.
Gluttony 7: Don't try to cram into your head with trifles. Follow Einstein: A pen is better than a good memory.
Gluttony 8: The matter you have can go as fast as it comes. It is better to keep the precious capital you have.
Pick up 9: Practice predicting events such as the stock market, elections, sporting events, etc., then analyze why it's right and why it's wrong, thereby training your future prediction skills.
Gone 10: It takes money to look good, but sometimes it takes more to make it ugly.
Gluttony 11: The more money they have, the less they show.
Gathering 12: It's not important to know someone, it's important how you know them.
Collected 13: For the average person, 10 million dollars is enough, but people with this mindset often find it hard to earn that much.
Collected 14: How to master supply and demand? Create a virtual bridge. When many people need it, everyone will try to get it.
Gluttony 15: Once assigned, you have to work anyway to get paid. Why don't you give your boss peace of mind: "I'll take care of this".
Gluttony 16: Smart and fluent business owner, present his presentation many times in front of different audiences.
Collected 17: Employees often receive their salary via card, check, or bank account. I often give employees new, beautiful, cool $100 bills. Their feeling is very good when they receive cash.
Collected 18: Meaning of life: A little song, a little dance.
Chapter 6 – Helping the kids stand out from the crowd
You need to understand, do not talk much with your children. Say little, but when you do, give them the silver bullets that make them different.
When you go to work, they will overpay you for the first two years, so that in the next twenty years they will pay below your means, even though you already understand the nature of your work. me.
So, challenge yourself, try to learn so that by that time you force the boss to pay you with new knowledge, with commercial values every time you come to the office to work.
Harry Warner, the president of Warner Brothers 1927, Robert Millikan, the 1923 Nobel Prize in Physics, or as great as Bill Gates from the 1970s, they have outdated judgments and wrong predictions.
Capitalism is constantly erasing its own creations. If you not only have to avoid not standing still, but also have to plunge into the difficult, fierce world and market yourself.
This pattern of disruption and replacement is not only repeated in the markets, but also characterizes the career paths of children.
So, encourage them to try new things, challenge the quirks. Your child will fail many times, but to be twice as successful you need to let your child fail twice.
Each generation searches for its own guide, often rarely the generation before it. Children do not need to surpass their parents. When they know how to set their own goals, absorb the right things, then they have all the necessary elements to succeed in all aspects.
Chapter 7 – How to be successful
Through many lessons, but one word that needs to be mentioned is "determination". I wondered how to talk about determination without being dogmatic.
I still remember, in the Hankins case of 1932, my father, Jack Mackay, a reporter, felt many complicated and absurd details. My father pursued the case, and finally, 18 years later, Hankins was exonerated and released. That comes from "determination" and compassion.
There is a magic formula for success. It's easy to understand but hard to do, which is:
DETERMINATION + GOAL + FOCUS = SUCCESS
Determination? Goals? Concentrate? Everyone thinks they have it. But not really. The never-ending cycle of elimination of the capitalist economy always opens up new opportunities for those with determination, goals and focus. Don't learn to swim with the fat guys on a date. Great challenges require practice and perseverance, then we can overcome the whirlpools of life more safely and successfully.