37signals logo

This is Signal vs. Noise, a weblog by 37signals about design, business, experience, simplicity, the web, culture, and more. Established 1999 in Chicago. Visit the Product Blog for more information on our products.

Jobs:

See more on the Job Board.

The Way To Wealth: The best business book is also the shortest Jason F. Jul 03

31 comments Latest by JF

I try to read my favorite business book of all time at least once a month. Luckily it’s only 30 pages.

Benjamin Franklin’s The Way to Wealth was first published in 1758 as a preface to Franklin’s Poor Richard’s Almanac. It’s a summary of his previously published thoughts on how to succeed in business (and, I’d say, life).

It’s chock full of astute observations such as:

Creditors have better memories than debtors

If you want to be wealthy, think of saving as well as earning

A ploughman on his legs is higher than a gentleman on his knees

If you want to know the value of money, go try to borrow some

Buy what you do not need, and soon you will sell your necessities

It’s easier to suppress the first desire than to satisfy all that follow it

Experience keeps an expensive school, but fools will learn in no other

A life of leisure and a life of laziness are two different things

Keep your shop and your shop will keep you

...and so on.

And if you’ve ever wondered where “Early to bed and early to rise makes a man healthy, wealthy, and wise” and “There are no gains without pains” came from, now you know.

It’s really a wonderfully simple read that’s packed with reason. You can buy it for a few bucks or read it online for free. I’d recommend the purchase—it’s a great little book to have around.

Looking for a job? Got a position to fill? Check out the Job Board.
Got a web design project in mind? Find a web designer on Haystack. Browse by visual style, portfolio, budget, and geographic location.
Over 1 million people use 37signals' simple web-based software to collaborate on projects, track contacts, and organize their business with an intranet.

31 comments so far

PJ Hyett 03 Jul 07

Early to bed, and early to rise, Makes a man healthy, wealthy and wise.
- Benjamin Franklin.

I don’t see it.
- George Washington

http://www.twainquotes.com/Era/18640703.html

carlivar 03 Jul 07

There’s also the excellent financial planning program Don’t Buy Stuff You Can’t Afford.

Austen Varian 03 Jul 07

This the best writing on money I have ever read in my life.

I love Benny Frank, and i love Jason for posting this.

Rob Lambert 03 Jul 07

Mark Sandman said: “Early to Bed, Early to Rise, Makes a Man or Woman, Miss Out on the Nightlife” (on this album, although if you don’t have any Morphine, buy Cure for Pain and Yes before you buy that record).

I like that, but I guess Mark didn’t live super long life enjoying that nightlife… Although, now that I think about it, wasn’t Ben Franklin known as quite the ladies man which one might correlate with having an active nightlife … hmmmm

benoit 03 Jul 07

Completly readable on Google: http://books.google.com/books?id=Qm2nPriQmk4C&pg=RA3-PA92&dq=benjamin+franklin+way+to+wealth&as_brr=1&hl=fr#PRA3-PA92,M1

Chris Hajer 03 Jul 07

@carlivar – I just spent 15 minutes looking for that SNL clip. Hilarious.

Adam Krusnic 03 Jul 07

I would also recommend that you read “the intelligent investor”, by the same author. Although i am employed at a fund management company, i found that this book helps you with all facets of business. I read this when i was 13.

MT Heart 03 Jul 07

Another one I’ve always liked is The Richest Man in Babylon

Michael Zuschlag 03 Jul 07

Rob Lambert: ”...wasn’t Ben Franklin known as quite the ladies man…?”

Maybe “early to bed, and early to rise” is a double entendre we’ve all been missing for the past 249 years.

Icelander 03 Jul 07

“Early to rise and early to bed makes a man healthy but socially dead” – Animaniacs

brad 03 Jul 07

Icelander: that’s a variation on James Thurber, who wrote in Fables for Our Time (1940): “Early to rise and early to bed, makes a man healthy and wealthy and dead.” Actually it wasn’t a man he was referring to but a chipmunk, who got up too early and was caught out by an owl.

Jody 03 Jul 07

I always thought it went “Surly to bed and surly to rise …”

arlen 03 Jul 07

The best reason to get up early goes right along with what people are saying … most people don’t, so I can get lots done without everyone else around pestering me :) How wonderful that our culture now promotes going to bed late and getting up late.

Morten 03 Jul 07

I’m currently reading Rich Dad, Poor Dad. While it’s tacky in its style, there are some good points (“your house is a liability, not an asset”). It has opened my eyes to why one needs to be speculative, and not just an ever hard-working drone. So I’m set to change, my first step being selling my apartment.

Dan O'Shea 03 Jul 07

“Buy what you do not need, and soon you will sell your necessities”

Notice that this is followed by a post about the iPhone. There’s a touch of irony there.

George 03 Jul 07

In a similar vein, I’m a big fan of The Unwritten Laws of Business http://www.amazon.com/Unwritten-Laws-Business-J-W-King/dp/038552126X/

Concise, shrewd and elegant.

condor 03 Jul 07

You can’t really improve on a masterpiece, but Charlie Munger sure can try. http://www.poorcharliesalmanack.com/

Gaston 03 Jul 07

Thanks, I didn’t know that book existed.

Chuck Reynolds 03 Jul 07

Actually there’s a PDF link to it here: http://bfranklin.edu/johnhibbs/WayToWealth.pdf

And a full online copy here: http://itech.fgcu.edu/faculty/wohlpart/alra/franklin.htm

Good read though – thanks for the book’s name.

James 03 Jul 07

@Morten: If you’re looking at Rich Dad, Poor Dad, you might be interested in an in-depth, critical look at the book: http://www.johntreed.com/Kiyosaki.html

Tony 03 Jul 07

Don’t forget the vikings: they had some words to live by too: http://38thsignal.blogspot.com/2007/07/way-to-wealth-plunder-saxon-dogs.html

Don Jones 04 Jul 07

Seems to me Ben Franklin burned a lot of midnight oil when he was in France trying to talk the French into helping U.S. win our independence from Britain. This is because the French socialized late into the night and Ben needed to establish himself in those circles.

Ben knew that early to bed / rise (and other truisms) should be adjusted for special circumstances.

LarryBitner 05 Jul 07

Just what we need. Short and to the point reading that cuts to the chase and gives us proven fundamental principles to work with and apply…

Don Schenck 05 Jul 07

There are no more annoying people than Early Risers, particularly those that think they are better than everyone else because they get out of bed early. They think everyone who doesn’t is lazy.

Hey … while you’re drifting off to sleep, I’m working. And just like your 6 a.m. at-the-office solitude, I’m alone also.

Argh! Now quit pestering me: I like to sleep in until 6:30 … is that so wrong? Sheesh.

Don Schenck 05 Jul 07

Also; check my blog for today’s entry about my neighbor who is retiring at age 48. Amazing story when you consider his low hourly wage.

Alex Bunardzic 05 Jul 07

Tony wrote:

http://38thsignal.blogspot.com

Whoever is writing this mlog (i.e. mock blog) is an extremely intelligent person. I love how they’ve captured the very essence of the vacuous campfire chat dumps.

I love that there are just 3 plans. I love that there’s unlimited croutons.

Most places charge through the nose for croutons.

Priceless!

Justin 05 Jul 07

@Alex: I disagree. Their satire is mildly amusing, but their constant spamming of legitimate topic comments is extremely annoying and childish.

James 05 Jul 07

@Alex: It is pretty funny.

Don Schenck 06 Jul 07

That’s some great satire. Wonder who it is…

Alex Bunardzic 06 Jul 07

Justin:

@Alex: I disagree. Their satire is mildly amusing, but their constant spamming of legitimate topic comments is extremely annoying and childish.

Give me an example.

JF 06 Jul 07

Let’s keep this thread on topic please. Any more off-topic banter will be removed. Thanks.

Comments are closed