KING OF CASH

THE 3 PILLLARS OF CASH 

THE PROBLEMS FACED BY BUSINESSES THAT HAVE REVENUE & CUSTOMERS

3 Most Powerful Business Tips by Andrew Carnegie

1. Hire the Best Men 

You must have a good management team that believes in your Aspirations 

2. Carry as much Cash and Very Little Debt

Having much Free Cash Flows gives you a powerful leverage.  This further advances your ability to "merge or acquire" businesses - what he terms as "Consolidation"

3. Technological Edge

Think how your business model can continually innovate and improve.  With powerful business models and technological leverage, it makes it impossible for others to catch up.

In the book "Rags to Riches"  is Andrew Carnegie , the wealthiest man on the planet in year 1901..

Andrew Carnegie was born the second son of a poor family in Dunfermline, Scotland. When Carnegie was 12, in year 1848, his family emigrated to the US in search of a better life. In the US, he found employment in a cotton factory. This first job paid him $1.20 ($35 in today’s money) for 70 hours of work per week.

In 1859, at just 24 years old, Carnegie succeeded his boss as railroad superintendent. While in this position, Carnegie made a number of profitable investments in coal, iron, and oil companies. He also invested in the Woodruff Sleep Car Company (the original holder of the Pullman patents), which brought the first successful sleeping car to American railroads. Carnegie left his post in 1865 as a wealthy man.

Yet Carnegie’s steel empire continued to grow. By 1900, Carnegie Steel was earning $40 million in profits annually, $25 million of which was Carnegie’s share. Carnegie sold his company for $480 million in 1901, marking one of the largest business transactions in the early 20th Century.

Following the sale of his company, Carnegie dedicated his life to philanthropy. Years earlier, he had penned an article titled “The Gospel of Wealth”, in which he stated that the wealthy had a moral obligation to give their money back to others in society. 

In the last 18 years of his life, Carnegie gave away $350 million ($5.3 billion in today’s money), or almost 90% of his fortune. He established charities dedicated to research in science, education, and world peace (many of which still exist today). He became the largest individual investor in public libraries in American history, funding the establishment of more than 2,500 public libraries. Carnegie also built enduring landmarks, such as Carnegie Hall in New York, the Peace Palace in The Hague, Netherlands, and founded Carnegie Mellon University, which remains one of the world’s best colleges.