Success and Wealth Secrets of PT Barnum, And The Relationship Between Income And Equity In Building A Fortune

Nathan W Morris was this week's guest on Success Profiles Radio, and he is the author of the new book "The Art of Getting Money". The book is an excellent discussion of the wealth and success principles of PT Barnum, who was one of the most successful entrepreneurs of the late 19th century and early 20th century. We discussed the difference between income and equity. Most people think of wealth in terms of how much money they make, whereas wealthy people think of building equity in businesses and systems that automate business for them. More importantly, wealthy think in terms of time more than they think of money. Rich people spend money to save time, while poor people spend time to save money. We also talked about the dangers of spending just to keep up with the neighbors, and the importance of context. Someone who is a teacher is limited by what their school pays them, whereas someone who uses those skills to tutor privately can make a lot more money. Finally, we discussed the importance of wanting something as badly as we want to breathe, and modeling successful people. You can hear the show anytime by listening at www.successprofilesradio.com or by downloading and subscribing for free on iTunes.