Hi Adrian,

thanks for sharing. No good book recomendation will upset anyone on the site.

This one's not actually bookkeeping or accounting is it.

I've got several of this type of American self help book in my library, generally picked up whilst buying more meaty tomes from Amazon resellers (my one's are normally in relation to marketing, cold calling, etc.).

I know that some of these books are better than others (The jury is still out on what colour is your parachute which was my last toilet time reading). What do you think sets this one appart? Is it an end in itself or is the author trying to sell you other books? Is the message genuine or cunningly disguised advertising of gambling (investments) as some of this type of book are.

What exactly have you taken away from reading it that has fundamentally changed your thinking? Now those are great books when you can find them. Last book that grabbed me like that was strategy bites back by Henry Mintzberg... If I had to advise you on your next toilet time reading though (light reads that you can pick up and put down without spending large chunks of time on them) then it would be 50 management ideas you really need tyo know by Edward Russell-Walling. 50 ideas taking no more than 4 pages each to convey. Doesn't actually teach you to use any of the ideas but it lets you know that they exist for you to then go out and investigate the one's that interest you further.... Bit like a ladybird book of management theory... Or Peter and Jane do strategic planning.

I'll wait for your more in depth analysis of the Cashflow Quadrant before rushing off to Amazon with foldies in hand. But as I say, if you were impressed and you feel the contents were relevant then feel free to post why you think that we should buy it.

talk soon,

Shaun.

Adrian99 wrote:

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Hello Shaun.

Just a few reasons why I like this book:

1. It makes clear that hard work does not take one very far. Creating a functional system might do.

Hard work is a state of mind that should be inherent in everything that we do regardless as to whether we are being paid for it. I tend to work to the principle of love what you do and the money follows. Chase the money and it will always stay out of your grasp.

2. A job is only a job, the boss created the biz to make him rich not the employees.

I know businesses with staff who have been paid million pound plus bonuses (no, not banking although its applicable to that business as well) but the people still work in the business rather than going and doing their own thing as they love the work and the people.

Many of the real size businesses were created centuries ago and the people running them now and making a lot of money from it come up through the ranks.

Look at many of the major accounting firms with a few hundred partners.

3. Job security is a thing of the past.

Agree totally with that one.

4. Saving a little bit every month and placing the money in the right place can bring an important sum over the long term.

Like investing in banks... Oh, wait.... The emphasise in that line is "can". The same as we "can" win the lottery by investing in a lottery ticket. Thats wishy washy thinking and no replacement for earning the money either in your own business or someone elses. Investments and other forms of gambling are fine but don't invest more in anything than you can aford to lose.

5. Get away as quick as possible from debt. Shiny cars and big houses are often a way of making more debt, some of the people today are in debt as they graduate until they die. Guess who is going to control their lives ?

Over time houses have outperformed all other forms of investment. Plus you get to live in it as it makes you your fortune.

You need a car and if you turn up to work in a wreck the assumption will be that you cannot handle your money so you may not get the job / promotion.

A debt free life is a fine thought but always remember the old line "It needs gold to breed gold"... doesn't matter if its your own gold or someone elses but you need to control it and use it wisely.

Conversely I agree totally with the concept that one should not have gearing more than they cannot handle.

6. Disappointment is an asset. You can learn from it. Never give up. Only by mistakes you will learn.

Thats just a rehash of Robert the Bruces line from sitting in the cave. "If at first you don't suceed, try again".

7. Get a mentor. You need a mentor to discuss what you need to know.

I've seen this in many books and it always leaves me thinking... And just where are all these mentors that are supposed to be ready to hold our hands and teach us the right way to do things.

If they are any good then they're too busy making money and if they're no good do I really want to be listening to them.

and many other great ideas.

Mmm, define great... The book sounds similar to many others in the same sort of vein. They tell you what you want to hear with enough success stories to back up their claims but the sucess stories come from those who would have succeeded anyway and just needed pointing in the right direction.

That latter point does make the books worth reading to inspire one to try but just try to find yourself ridiculing them rather than agreeing with them as only by seeing the flaws in their arguments can you see the truth of business and money.

Self help books are a similar story to franchises. Did the author/franchisor make their money from following what they are teaching or by selling the idea to others?

Don't think that the ridiculing books in your mind is restricted to pulp titles. I did exactly the same with Managing Corporate Strategy by Johnson, Scholes and Whittington. And that books over £50 to buy new.

Its all a state of mind where you think outside the box rather than following the ideas of others. By all means pick up snippets as you go. Just don't think of these books as flawless gospels that give you a roadmap to success.

I know it is not accounting related, but I feel so much about this book.

Doesn't matter what the subject matter is providing that it gives tyou the answers that you need. From what you've written I'm not thinking that this is the right book.

I am not in the position to place this book on a scale with other business related and self help books as my knowledge is limited on business books.

Mmm, I feel a challenge to think of a book now that will change your mindset and help you towards success...

Something that makes you rethink what you know...

Here are a few that might get you to where you want to be...

"How to Master the Art of Selling" Tom Hopkins

"How to get Ahead in Business" Tom Cannon

"Getting Business to Come to you" Paul and Sarah Edwards

They're more focused on changing your perception of business and selling than selling you on idea's such as no gearing, but they will all mae you start thinking outside the box.

For me it was just an answer to many questions that I had on my mind.

But, similar to the answers given in what colour is your parachute,  I'm not sure that the answers were the right one's.

I will definitely love to read a book that teach how to sell bookkeeping services and to get clients fast, grow the biz quick.

I think that the above three should be a good start and all of them can be picked up from resellers for pennies.

Kind regards,

Adrian

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Kind regards,

Shaun.

I really want to thank Shaun for recommending the Tom H. Book.

It is very clever and filled with enthusiasm.


I wish you a great Bank Holiday, Shaun.


All the best,

Adrian