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.
{ 6 comments… read them below or add one }
I'm inspired by these kinds of people. Successful yet humble.
Yeah, he a least seemed humble, but he could also be single minded and ruthless too when he wanted to be.
As one of the six “rich guys” (yeah right) I will tread with care here, but I feel there are a few things to flesh out in this profile of Les.
First, he called us all “Darling” and we loved him. Well I did. That photo is the older Les to a tee. And that is not a crocodile smile. When we first became tenants, and he was younger, the fisherman's jersey would have been black and he would have been too busy for the jacket.
Second, his genuine love for old Auckland. If you want to read about a genuine character with a passion for his home town, click on the cartoon in Stephen's post and read on.
Third, Parnell Village in particular is a time capsule, a living monument to old Auckland. An old location that would have been torn down but for Les's vision. And here's the thing – Les told us then, if I can't may it pay its way someone WILL tear it down. Would that be progress? He didn't think so. Would it be inevitable? Absolutely.
It was kind of weird how how he prettified and gentrified these old wooden houses for ladies who lunch, but he did it without compromise, and the fact is thirty years later they're still there.
Fourth, I don't think of him as a rack renter. We were the first location in Auckland with *Saturday* trading licence. Hell, there was nowhere else open for business! Handcrafts were all the rage. You had to muscle your way into the shop.
The seventies ended, handcrafts were so last year. The rent was the least of our problems. But we had other fish to fry. We moved on.
Thanks for reminding us of a great character, Stephen.
Ian
Thanks Dad. I choose the word 'wealthy' intentionally, someone is wealthy for many reasons not just because of the size of their bank account.
So true what you say about Parnell and Les, but I had to stop writing as I know my posts are already much longer than you would like.
Finally, I didn't mean to imply 'rack renter', but my memory is he did put the rents up which made them uneconomic for us. My point was, he could have got caught up in his 'product' and lowered rents trying to make it work. I think it's good however in the same way we (or mainly mum) moved on, so did he.
Thanks for the walk down memory lane…. I am sitting here crying warm tears thinking about Les. I haven’t thought of him in many years and it’s wonderful to remember him. Each week passing by, keeping connected with us by walking the streets and shops of Parnell. Here was a man of connection. He loved his “work” for sure.
Whilst he or his family, or his business perhaps, may have moved on he made us know he cared.
I can see him standing there walking stick in hand, Fluffy the cat sitting on the bench top. It makes me think of something Steve Linder taught us this week (hope I describe this kinda right) Whilst so many looked at Les and gave sideways looks seemingly thinking, who’s the homeless guy? The way he dressed – it’s just a dot! You don’t know anymore or any less about him because of his clothes…it was just a tiny dot in the picture of who he was! Success and love comes in all shapes and sizes. So I think, don’t get too caught up in your model of how it should look!
So true … I forgot he used to call everyone “Darling”, with that big smile. That to is wonderful to remember. He certainly loved people.
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