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Automatic wealth The 6 steps to financial independence - Masreson M.

Masreson M. Automatic wealth The 6 steps to financial independence - Wiley & sons , 2005. - 291 p.
ISBN 0-471-71027
Download (direct link): automaticwealththesixstepsto2005.pdf
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Itís not easy to hire good people, but itís well worth the time and effort that it takes. Here are the four most important things Iíve learned about how to do it:
1. Make the commitment. Anything worth doing is worth doing well. You canít expect to hire great people if you spend just a few hours working on it. I donít like interviewing, and Iím always impatient to hire the first decent person who comes along. Thatís a deadly combination.
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2. Look for the right things. Intelligence is important, but Iíd put it third on my list of things to look for. I agree with Jeffrey J. Fox in his book How to Become a Great Boss (Hyperion, 2002) that the two most important things to look for are attitude and aptitude.
3. Flee flaws. Generally speaking, youíll see job candidates at their best when you interview them. If you notice something that seems wrong, donít ignore itóespecially if it concerns qualities that are important for the job. When it comes to interviewing, Iíve found that personal quirks are like the tip of an icebergó what you see on the surface is a very small part of what you will have to deal with later.
4. Donít worry too much about specific experience. Of all the qualities that are important to look for in finding a great employee, specific experience is not very high on my list. Yes, itís good to know that the person you hire can do the technical work from day oneóbut on day 7 or day 14, youíll wish you had opted for the better, though perhaps untried and unproven, prospect.
Productivity Secret No. 8: Fire Bad Employees
When you want to save a hammock of endangered hardwoods, you start by chopping down a lot of trees. You must get rid of the younger, faster-growing trees that threaten the good wood in order to let the sun come in and give the really valuable growth a chance to develop. That is how it works in nature. And I have found that the nature of a business is not too much different.
So how do you weed out the mediocre employees who are interfering with the growth of your business? A successful newsletter publisher I know did it this way . . .
With every new person he agreed to hire, he made himself a promise that he would fire his weakest employee. He reasoned that the caliber of his workforce would gradually improve, so long as each new hire was better than his worst existing employee. He found himself targeting employees with attitudinal problems (those who seemed always unhappy) and problem workers (those who spent too much time on the phone, on breaks, etc.).
ďThe only difficult thing,Ē he told me, ďwas learning how to fire someone. I recognized it was the fear of doing so that allowed me to
Step 2: Plan to Become Wealthy 67
tolerate those mediocre people all along. The first few dismissals were difficult, but after that it became easier. Eventually, I came to feel I was doing something good for the company, good for me, and good for the hardworking, serious-minded employees who didnít want to be slowed down by mediocre people.Ē
The program worked better than he expected. Not only did he get rid of the laggards and sour apples, but the energy of the entire workplace improved. More work was being done more quickly. Profits and revenues were way up. Best of all, he no longer had to spend a lot of his time prodding the underachieversóand that freed him up to do more of the work he really loved (writing, editing, and promoting his newsletter).
CAN GETTING RICH BE SIMPLE AND EASY?
In putting together this book, Iíve reduced what was for me a complex, sometimes contradictory, experience of moving from debt to wealth into six simple steps.
Are they really simple?
It wasnít simple for me when I started out. Thatís for sure. Everything seemed like a jumbled blur of false starts, restarts, and retrenchments. But now, looking back at what I did and having the time to analyze what worked and failed, the pattern of success does indeed look simple.
Okay, achieving financial independence is simple. But is it easy? Or does it require a lot of hard work?
We are all driven by desiresóto work less, to enjoy more, to have more money, to feel secure. Achieving financial independence is a big part of achieving those desires. And if you one day acquire wealth, it will be due in no small part to the hard work youíve invested.
But hereís the catch: You donít want the hard work! I know that. And
I know that if I stress the hard work, Iíll probably scare you off. So Iím not going to focus on that and I donít want you to focus on that, either. I want you to think about the money, fun, and power. I want you to dream about the toys. And when you set your goals, they should reflect those dreams, not the reality of hard work.
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In truth, we all begin our greatest accomplishments with some naivete about how much time it will take . . . how many obstacles we will encounter . . . how much frustration we will feel. If I were to take the time to list all the things Iíve done with my lifeóthe accomplishments Iím most proud of1óin not one case could I honestly say, ďI knew what I was getting into when I began.Ē
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