Book Summary: The Rich Employee by James Altucher

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The Rich Employee Summary

The Book in Three Sentences

“The Daily Practice is how we take the stone of ourselves, all of the places where we feel blocked, and turn those stones into works of art”.
“Nothing can replace your ability to innovate, have a vision, and then execute on that vision in the most efficient way possible”.
“The average multi-millionaire has 14 different sources of income”.
“Being an entrepreneur is NOT about taking risk, it’s about ELIMINATING all risk. Being an entrepreneur, or having multiple sources of income is ultimately safer than having a job, but only if you use the job to get rid of all the risks. Just being an entrepreneur, without having multiple sources of income, without first taking care of the risks, is suicide”.
“The only thing you have control over is your mindset, your habits, and the choices you make internally about how you’re going to deal with a situation”.

“Avoid spending time with people who bring you down. Spend more time with people you love and who love you”.

“The Daily Practice is how we take the stone of ourselves, all of the places where we feel blocked, and turn those stones into works of art”.

“The ONE Thing thing that can’t be outsourced is Ideas. We are now transforming for the first time into a pure ‘Idea Economy’”.

“Nothing can replace your ability to innovate, have a vision, and then execute on that vision in the most efficient way possible”.

“Nothing ever works out when you are at the whims of others. It doesn’t matter if you are an entrepreneur or an employee. Once someone is bribing you to do something (a salary is a form of bribery if you are only doing the work for the money and not for the meaning) then you become a prisoner”.

“All good things must come to an end. From the day you start, you need to plan your exit”.

“Being an entrepreneur is NOT about taking risk, it’s about ELIMINATING all risk. Being an entrepreneur, or having multiple sources of income is ultimately safer than having a job, but only if you use the job to get rid of all the risks. Just being an entrepreneur, without having multiple sources of income, without first taking care of the risks, is suicide”.

“People will not remember what you said, they will remember how you made them feel”.

“The only thing you have control over is your mindset, your habits, and the choices you make internally about how you’re going to deal with a situation”.

“You cannot help others choose themselves until you have chosen yourself to be healthy, to be free from the gatekeepers, to have a life of freedom”.

“When you lose money it’s because you might have done something incorrectly. This is feedback you can use to make more money. And when you make more money, this is feedback that you are doing good things”.

“The Rich Employee creates so much value he/she has credit to spare and can easily just outright give it to others”.

“If you are a leader of less than 30 people, you have to know intimately the problems of all 30 people (or less) in your organization”.

“Leadership is not about achieving your dream. It’s about helping everyone else achieve their dreams”.

“If you don’t give yourself permission to create a new world, chances are nobody else will”.

“Everything that happens in your future is a direct result of what you do today”.

“You can only make a difference in your life when you stand out. When you aren’t afraid to go beyond the fringe”.

“You have to remember your experiences, study your failures, try to note what you did right and what you did wrong, and remember them for future experiences”.