J. Paul Getty
J. Paul Getty’s Quotes
J. Paul Getty is one of the most respected men of his time. He began brokering oil leases for his father George Getty in 1914 and just within 2 years in 1916 he established his first successful oil well in Oklahoma and by the 1920s he has already amassed great wealth drilling oil in California. Having acquired the required experience, when his father died in 1930, he became the President of his father corporation.
At the age 23 Getty had earned his first $1 million which is today worth over $20 million. Just like Warren Buffett, Paul Getty was a great investor. He uncovered dividend-paying companies who are key players in the market and he stayed long-term with them. One of the things that excite me about Getty was that he believes in buying when others are selling. Before his death, Paul Getty, his Getty Oil Company not included, he also manages other 200 companies. The manual for becoming rich which he left behind for us is ‘How To Be Rich.’ Although so many people claim that information in this book of his is already outdated, I want to make it clear here that there are more life truth in that book.
These Quotes made by J. Paul Getty will transform your Business Mindset. Enjoy it!
Quotes on How to Create, Manage and Multiply Wealth By J. Paul Getty
“Money is like manure. You have to spread it around or it smells.”
“No one can possibly achieve any real and lasting success or ‘get rich’ in business by being a conformist.”
“My formula for success? Rise early, work late, strike oil.”
“Buy when everyone else is selling and hold when everyone else is buying. This is not merely a catchy slogan. It is the very essence of successful investment.”
“I have no complex about wealth. I have worked very hard for my money; producing things people need.”
“To build wealth today; you must be in your own business.”
“The employer generally gets the employees he deserves.”
“You must take risks, both with your own money or with borrowed money. Risk is essential to business growth.”
“Seek advice on risk from the wealthy who still take risks, not friends who dare nothing more than a football bet.”
“Men of means look at making money as a game which they love to play.”
“You must not only learn to live with tension, you must seek it out. You must learn to thrive on stress.”
Build wealth as a by-product of your business success. If wealth is your only objective in business you will probably fail.”
“In times of rapid change, experience could be your worst enemy.”
“Oil is like a wild animal, whoever captures it has it.”
“The man who comes up with a means of doing or producing almost anything better, faster or more economically has his future and his fortune at his finger tips.”
“Wealth is only a benefit of the game of money. If you win, the money will be there.”
“Patience, this is the greatest business assets. Wait for the right time to make your moves.”
“Once you have made it, you will understand that any business is limited in the challenges it offers. You will want and need other games to play, so you will look for other ventures to hold your interest.”
“If you owe the bank $100, that’s your problem. If you owe bank $100 million, that’s the bank’s problem.”
“As I grow older, I pay less attention to what men say. I just watch what they do.”
– Andrew Carnegie
Do you really want to be rich? Or have you been pretending about it? I know that’s a foolish question to ask but it is necessary that I do.
How do wealthy people think? What’s so special about the way they think that has always made their wealth to grow increasingly? By thinking like them can anyone become rich too?
If you are serious about being wealthy you will have to learn how the wealthy think. You will have to know the lingo and the language, where they eat and live, how they work and relax, how they invest and save, and what they think about money in general.
If you’ve made up your mind to be wealthy like I did, here are few questions you must ask yourself about wealthy people:
¤ What’s their value for time?
If there’s anything wealthy people value so much it is time. They understand that Life = Time. That’s to mean, if they waste their time, they are wasting their life.
The more time you save, the more money you are likely going to make. So why not save more of it?
¤ What do they think about money?
Yes! Everyone has his right to think anything about money but until you think it the way wealthy people do, the money will neither come or stay long if it ever comes. The poor thinks that money bring happiness but the rich knows it doesn’t.
Jean Paul Getty said; “money is like manure. You have to spread it around or it smells. Build wealth as a by product of your business success. If wealth is your only obective in business, you will probably fail.”
¤ What do the wealthy think about passive income strategy?
I have written an article about Passive Income Strategy here before so I wouldn’t bore you with the meaning and how to profit from it but if you are interested to know more you can search it out right here in my blog.
Few wealthy men of the 19th and early 20th century hardly believe that passive income strategy is necessary to becoming the wealthiest in life. Someone like Andrew Carnegie advices that to be wealthy you should put all your eggs in one basket and keep a strong watch over the basket while others like Warren Buffett, Aliko Dangote, Richard Branson and the rest of them believes in ‘a little on the right, a little on the left’ which simply explains passive income earning.
No one becomes wealthy doing one thing. Otherwise in time of crisis he or she will experience total meltdown economically.
¤ What do the wealthy think about networking?
The wealthy believes that no one is self-made. Everybody needs someone. Sometimes the someone you might need will be a customer, a mentor or a new business partner. Warren Buffett said; “it is better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you will drift in that direction.”
¤ What do the wealthy think about buying and selling?
Just like Rich Dad rightly taught us, learning sales skills is the best choice anyone can make. J. Paul Getty and Carlos Slim Helu taught us that buying when others are selling is the best formula in becoming wealthy in life.
In buying, don’t waste your time in liabilities, go for assets. Liabilities are those ones that takes money away from you while assets are those ones that brings money in.
Based on this explanation; how many assets and liabilities are in your budget this year? If you want to think like the wealthy you must learn how to buy more assets over liabilities.
¤ What is the perception of the wealthy about failure?
An average man sees failure as a stumbling block while the wealthy or one who thinks like the wealthy sees it as another opportunity to try again. Oprah Winfrey said; “Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.”
The wealthy became wealthy the day they identified the needs of the people and accepted to meet it. They do this through the Law of Potential Difference by feeding the emotions of the masses and feeding their own intelligence.
Almost all wealthy people became wealthy by first thinking it. After then came the organisation of those thoughts. So by thinking like them, reading the kind of newspapers they do and following every point I have listed above, will you become wealthy in life.
Do you find this article informative and motivating or you have a question for me? Share it and leave a comment for me in the comment box below.
The multi-billion dollar oil mogul has the following to say about creating, managing and multiplying wealth. This philosophy of his made him the person he is.
1. “Once you have made it, you will understand that any business is limited in the challenges it offers. You will want and need other games to play, so you will look ffor other ventures to hold your interest.”
2. “Patience; this is the greatest business asset. Wait for the right time to make your moves.”
3. “Build wealth as a by product of your business success. If wealth is your only objective in business, you will probably fail.”
4. “Seek advice on risk from the wealthy who still take risks, not friends who dare nothing more than a football bet.”
5. “You must take risks both with your own money or with borrowed money. Risk taking is essential to business growth.”
6. “To build wealth today, you must be in your own business.”
7. “I have no complex about wealth, I have worked very hard for my money, producing things people need.”
8. “Buy when everyone else is selling and hold when everyone else is buying. This is not merely catchy slogan, it is the very essence of successful investments.”
9. “Money is like manure. You have to spread it aroundd or it smells.”
10. “Formula for success: rise early, work hard, strike oil.”
11. “If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s bank’s problem.”
12. “Going to work for a large company is like getting on a train. Are you going sixty miles an hour and you’re just sitting still.”
13. “If you can count your money, you don’t have a billion dollars.”
14. “To succeed in business, to reach the top, an individual must know all it is possible to know about the business.”
15. “The employer generally gets the employees he deserves.”
16. “No one can possibly achieve any real and lasting success or ‘get rich’ in business by being a conformist.”
17. “In times of rapid change, experiences could be your worst enemy.”