I went to a Robert Kiyosaki – Rich Dad, Poor Dad seminar a few weeks ago, which got me thinking about the wealthy men in my life and what I have learnt from them. Six came to mind almost immediately as they had taught me some very deep and fundamental lessons.
The seminar itself was fairly disappointing apart from hearing Emi Kiyosaki talk about how to avoid regret, but like all things it did prompt some self-reflection and fortunately reminded me of these lessons.
These men are all different, but in some ways the same
They are by no means the richest people I have known, and might seem on the surface of it completely different. They include a property developer, two Xerox sales people, a Xerox dealer, a wool merchant and the last is my Dad. You’ll notice from that list how significantly Xerox features, and that is because although I largely hated my time working there (seven years), it was a wonderful training ground in communication and sales. Two crucial skills that need to be mastered if you wish to have a successful business.
My Dad is included, not as some shallow suck-up to one’s father, but because as part of a two person tag team, he and Mum have done more to develop my entrepreneurial ability, standards, world outlook and competitive streak than anyone else. They have brilliant insight, some of which I would like to share, but they’ll have to wait nervously till post #6 to see what I have to say :-)
So what do these people have in common?
They are all all self made people … they are all ambitious … they all have high standards … they all live outside themselves and add value to others … and most importantly they all became successful, not by honouring “the rules”, but by making them.
Les Harvey property developer – the unlikely rich guy
That’s Les in the photo, complete with sailor’s hat and jumper. He must have brought a new jumper for the photo shoot as my memory is that the one he normally wore was much older, and his hair always messy. He was the unlikely rich guy because to many people he looked more like he lived on the street rather than as the owner of a significant portion of Auckland’s central city. When I read the book The Millionaire Next Door I immediately thought of Les.
There were no airs and graces with him, no flaunting his wealth; he was almost cagey as to which buildings were his. I liked that humbleness, and noticed how it sparked more curiosity than if he had been flashy.
Lesson #1 – Set your own rules
When I worked at Xerox, the corporate uniform was strictly imposed, and peer pressure even encouraged you to spend significant money on cars and suits. Looking right, looking successful, keeping up with the Jone’s.
I know as entrepreneurs, we sometimes have to play the part, wear the suit and behave as expected, but what I love is being able to be like Les. That is, being myself, wearing what I want, getting past the pretence and setting my own rules.
Lesson #2 – Love the company, not the product
Les’s “product”, at the time we were in there ,was Parnell, as a community of souvenir, craft and speciality shops. Shops like ours (Earthworks) were his bread and butter, the innovators that became one of the first companies in New Zealand to battle for and start Sunday trading. We made Parnell a destination, something for the cafe’s to base themselves around.
When the opportunity arose to raise rents to a point that was no longer economic for us, he didn’t get caught up in the old model, he didn’t get confused by his allegiances to people who had supported him for 15 years – he just moved on. I kind of admire and feel bad about that, all at the same time, but truth is, he kept his business strong by adapting and moving with the times. That clarity is supremely important.
Thank you Les
It’s not a complicated story, but certainly one that has influenced me since my time watching and learning from you as a child and teenager. Hard work, frustration and lots of responsibility may be a potential downside of being an entrepreneur, but being able to be the sailor and captain of your own ship, setting your own direction and making up your own rules is definitely a bonus.
Tagged as:
entrepreneur,
learning,
Les Harvey,
Parnell,
People,
rules,
strategy
