These are my book notes on The Art Of Money Getting by the author P.T. Barnum.
Let’s dive in.
- Title: The Art Of Money Getting
- Subtitle: Golden Rules For Making Money
- Author: P.T. Barnum
- Author’s website: here
- First published: 1880
- Type: non fiction
- Genre: business education / personal development
- Rating: 3/5
- Recommended: Yes
Those who really desire to attain an independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done.
- P.T. Barnum
Key Concepts & Ideas
True economy consists in always making the income exceed the outgo.
The foundation of success in life is good health; that is the substratum of fortune; it is also the basis of happiness.
A person cannot accumulate a fortune very well when he is sick.
To make money, requires a clear brain.
As no man can succeed in business unless he has a brain to enable him to lay his plans, and reason to guide him in their execution, so, no matter how bountifully a man may be blessed with intelligence, if the brain is muddled, and his judgment warped by intoxicating drinks, it is impossible for him to carry on business successfully.
How many good opportunities have passed, never to return, while a man was sipping a “social glass,” with his friend!
How many foolish bargains have been made under the influence of the “nervine,” which temporarily makes its victim think he is rich.
How many important chances have been put off until tomorrow, and then forever, because the wine cup has thrown the system into a state of lassitude, neutralizing the energies so essential to success in business.
We are all, no doubt, born for a wise purpose.
Unless a man enters upon the vocation intended for him by nature, and best suited to his peculiar genius, he cannot succeed.
There is scarcely anything that drags a person down like debt.
It is a slavish position to get in, yet we find many a young man, hardly out of his “teens,” running in debt.
When a man is in the right path, he must persevere.
It is this go-aheaditiveness, this determination not to let the “horrors” or the “blues” take possession of you, so as to make you relax your energies in the struggle for independence, which you must cultivate.
He becometh poor that dealeth with a slack hand; but the hand of the diligent maketh rich.
- Proverb of Solomon
Perseverance is sometimes but another word for self-reliance.
Until you can get so that you can rely upon yourself, you need not expect to succeed.
But I have known others who have met more serious financial difficulties, and have bridged them over by simple perseverance, aided by a firm belief that they were doing justly, and that Providence would “overcome evil with good.”
You will see this illustrated in any sphere of life.
“Take two generals; both understand military tactics, both educated at West Point, if you please, both equally gifted; yet one, having this principle of perseverance, and the other lacking it, the former will succeed in his profession, while the latter will fail.
One may hear the cry, “the enemy are coming, and they have got cannon.”
“Got cannon?” says the hesitating general.
“Then halt every man.”
He wants time to reflect; his hesitation is his ruin; the enemy passes unmolested, or overwhelms him;
While on the other hand, the general of pluck, perseverance and self-reliance, goes into battle with a will, and, amid the clash of arms, the booming of cannon, the shrieks of the wounded, and the moans of the dying, you will see this man persevering, going on, cutting and slashing his way through with unwavering determination, inspiring his soldiers to deeds of fortitude, valor, and triumph.”
Work at it, if necessary, early and late, in season and out of season, not leaving a stone unturned, and never deferring for a single hour that which can be done just as well now.
The old proverb is full of truth and meaning:
“Whatever is worth doing at all, is worth doing well.”
Many a man acquires a fortune by doing his business thoroughly, while his neighbor remains poor for life, because he only half does it.
Ambition, energy, industry, perseverance, are indispensable requisites for success in business.
Fortune always favors the brave, and never helps a man who does not help himself.
Do your part of the work, or you cannot succeed.
No man has a right to expect to succeed in life unless he understands his business, and nobody can understand his business thoroughly unless he learns it by personal application and experience.
If a man adopts the proper methods to be successful, “luck” will not prevent him.
If he does not succeed, there are reasons for it, although, perhaps, he may not be able to see them.
Men in engaging employees should be careful to get the best.
There is no greater mistake than when a young man believes he will succeed with borrowed money.
Nine out of ten of the rich men of our country today, started out in life as poor boys, with determined wills, industry, perseverance, economy and good habits.
They went on gradually, made their own money and saved it; and this is the best way to acquire a fortune.
The great ambition should be to excel all others engaged in the same occupation.
Many persons are always kept poor, because they are too visionary.
Every project looks to them like certain success, and therefore they keep changing from one business to another, always in hot water, always “under the harrow.”
The plan of “counting the chickens before they are hatched” is an error of ancient date, but it does not seem to improve by age.
Engage in one kind of business only, and stick to it faithfully until you succeed, or until your experience shows that you should abandon it.
A constant hammering on one nail will generally drive it home at last, so that it can be clinched.
When a man’s undivided attention is centered on one object, his mind will constantly be suggesting improvements of value, which would escape him if his brain was occupied by a dozen different subjects at once.
Many a fortune has slipped through a man’s fingers because he was engaged in too many occupations at a time.
There is good sense in the old caution against having too many irons in the fire at once.
Men should be systematic in their business.
A person who does business by rule, having a time and place for everything, doing his work promptly, will accomplish twice as much and with half the trouble of him who does it carelessly and slipshod.
By introducing system into all your transactions, doing one thing at a time, always meeting appointments with punctuality, you find leisure for pastime and recreation; whereas the man who only half does one thing, and then turns to something else, and half does that, will have his business at loose ends, and will never know when his day’s work is done, for it never will be done.
The whole philosophy of life is, first “sow,” then “reap.”
- P.T. Barnum
This principle applies to all kinds of business, and to nothing more eminently than to advertising.
If a man has a genuine article, there is no way in which he can reap more advantageously than by “sowing” to the public in this way.
He must, of course, have a really good article, and one which will please his customers; anything spurious will not succeed permanently because the public is wiser than many imagine.
Men and women are selfish, and we all prefer purchasing where we can get the most for our money and we try to find out where we can most surely do so.
Recently I observed a swing sign extending over the sidewalk in front of a store, on which was the inscription in plain letters, “DON’T READ THE OTHER SIDE.”
Of course I did, and so did everybody else, and I learned that the man had made an independence by first attracting the public to his business in that way and then using his customers well afterwards.
Politeness and civility are the best capital ever invested in business.
The truth is, the more kind and liberal a man is, the more generous will be the patronage bestowed upon him.
The best kind of charity is to help those who are willing to help themselves.
My book notes only cover small parts of the book.
So if you like what you read, please consider buying the book from the author.
Thank you for reading and stay awesome,
Tim for Online Business Dude
PS: Start And Grow Your Own, Profitable Online Business From Scratch, Step-by-Step, Today!