He taught me the basic principles he relied on to go from grinding poverty to enormous wealth.
- Shaun Rein
Forbes has an interesting article on what one of their writers learned from talking to one of the new Chinese billionaires. Here are the three main lessons:
Mr. Chen's first lesson is to believe that anything is possible and the only thing that can stop you is yourself. He never ceased to believe that he would make something of himself. As a poor peasant child with no high government connections, he had the odds stacked again him. He had to drop out of school in his teens because his family had no money.
The second lesson Mr. Chen taught me is that to get what you want you have to respect everyone and sometimes eat humble pie.
Finally, Mr. Chen believes in sharing wealth. He lets business partners make more than he does, so that the next time they secure a good deal they'll think of working with him first. He sees no point in ever trying to shortchange business partners.
Go read What I Learned From A Chinese Billionaire in full. It's a brief piece.
If you're wondering what this blog is about, it's about learning best practices from billionaires who made their fortunes wheeling and dealing in assets.