132 year old book reveals how to make money online!

by Steve B 28 replies
Sounds pretty far- fetched, doesn't it? How could a book published in 1880 have any relevancy in today's online world?

Phineas Barnum, in his day, was known as the greatest showman on earth. He will be remembered as an entertainer, even a scam artist by some, but most importantly he was a shrewd businessman, author, and self-promoter. He brought to the masses previously unseen giants, midgets, mermaids, exotic animals, bearded ladies, the world's largest elephant and other human curiosities.

Barnum was 60 years old when P.T. Barnum's Grand Traveling Museum, Menagerie, Caravan, and Circus made its debut. "We ought to have a big show," Barnum said. "The public expects it, and will appreciate it." Appreciate it they did - Barnum grossed $400,000 in his first year of operation.

Barnum wrote a little book (only 50 pages) titled the Art of Money Getting or "Golden Rules for Making Money."

Here is a list of his 20 exact money making rules [and my own "translation" of how each one applies to making money online today]:
  1. Don't mistake your vocation - [Choose a business subject you are passionate about]
  2. Select the right location - [Choose a buyer's niche where the prospects are congregated]
  3. Avoid debt - [Don't buy every new and shiny business product that comes along]
  4. Persevere - [Take consistent positive action over time and every obstacle]
  5. Whatever you do, do it with all your might - [Put all your energy into one thing]
  6. Depend upon your own personal exertions - [You, and only you, are responsible]
  7. Use the best tools - [Automate, leverage, and work efficiently on your business]
  8. Don't get above your business - [Don't grow faster than you are capable of handling]
  9. Learn something useful - [Develop a personal skill that is marketable]
  10. Let hope predominate but be not too visionary - [Don't spend all your revenue early on]
  11. Do not scatter your powers - [Focus on one business or operation at a time]
  12. Be systematic - [Be systematic! not careless, slipshod, unorganized or procrastinating]
  13. Read the newspapers - [Stay abreast of industry news and events, probably online today]
  14. Beware of "outside operations" - [Barnum mentioned "gaming" (gambling, speculations)]
  15. Don't indorse without security - [Don't lend money; also be careful about partnering]
  16. Advertise your business - [You'll never reap if you don't sow]
  17. Be polite and kind to your customers - [Nurture and give great value, show kindness]
  18. Be charitable - [Barnum's quote: "the liberal man will command patronage"]
  19. Don't blab - [Don't reveal you profits, plans, or ideas for the future]
  20. Preserve your integrity - [Be honest and forthright. My favorite definition of integrity is this: integrity is what you do when no one is looking.]
If you'd like to read the book (it's well worth an hour's time), it's in the public domain or let me know and I'll send you a free copy.

Steve
#main internet marketing discussion forum #132 #book #make #money #online #reveals #year
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  • Profile picture of the author RedShifted
    Thats rather surreal for me to read that. All these problems... seem to be more of a symptom of human nature, than the times we're living in.

    And I have to say, the advice is REALLY good. Things like "be not too visionary". I'm not sure how many people really realize the value in that. This is stuff I think about a lot. Always trying to stay in control of my own ego. Always trying to keep my emotions in tact, so I can be purely systematic in my approach.

    Very cool stuff.
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  • Profile picture of the author jaggyjay
    It's amazing how much of that wisdom can still be applied today.

    I'm wondering if this was a source of inspiration to the author of "The Science of Getting Rich".
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  • Profile picture of the author dengkane
    Interesting sharing, I think the essences will not be changed, and only the ways to implement them will change.

    Thanks for sharing.
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  • Profile picture of the author Raydal
    Goes to show that some principles are eternal no
    matter if they come dressed in new clothes. I'm
    a big fan of the oldies as well. You find more
    condensed wisdom in these old books than
    you find in newer publications.

    Joe Vitale was the first marketer I heard
    speak highly of PT Barnum.

    -Ray Edwards
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  • Profile picture of the author O0o0O
    Wonderful advice. Barnum gave the people what they expected. And that's exactly what you need to do to make money.
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  • A set of very good rules that can be applied even today. Thank you very much for sharing and for the timely reminder.

    There were a few things that might have slipped to the back of my mind...
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  • Profile picture of the author MarkTrueman
    Great advice. Like the unique take, on timeless rules. I think most of us know these rules on some level but just forget or don't take them seriously enough. I especially need to be mindful of #19
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  • Profile picture of the author SafeSEOService
    Hi,
    I never thought a 132 year old book can help U make money online.. Can U send me a free copy of the book.. Thanks..
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    • Profile picture of the author Steve B
      P T Barnum was often credited as saying "there's a sucker born every minute" but that phrase has never been proven to be his own.

      He did say that "every crowd has a silver lining" and was quoted as saying "the public is wiser than many imagine."

      I think Internet marketers would do well to remember those last two quotes.

      Maybe said another way in today's terms, "every niche can make you money" and "don't put yourself on a pedestal and speak down to your audience."

      Steve
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  • Profile picture of the author Rose Anderson
    Steve,
    These are not marketing related... but Barnum was also responsible for these phrases:

    Grandstanding
    Throw your hat in the ring
    Get the show on the road
    Jumbo - referring to the name of the elephant he bought; came to mean anything extra large in size.

    Rose
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  • Profile picture of the author TimHutch34
    That sounds like a great find

    I try to find music books in the public domain sometimes. Figure music notation and the way it's written hasn't changed in 200 years
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  • This is an old book so up-to-date that is incredible. I like to extract tips and tricks from old books, so I can only appreciate your hard work!
    Each one of the 20 rules is a timeless pearl of wisdom.

    Thanks so much and see you soon,
    Alessandro
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  • Profile picture of the author newrepublic
    Can you send me a link? I only found excerpts on it.
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  • Profile picture of the author Shubh Ashish
    Nice.Think and Grow Rich is also a very old Book(not old as your mentioned book) but very effective methods that can be used in Online Marketing.
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  • Profile picture of the author celente
    bloody awesome post.

    Should be made into a sticky!

    WHY? simple for all those that keep going out there looking for the next big thing, or shiney object, you just have 132 years of proof you are running into a one way street with a horrible ending.

    Say no more!
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  • Profile picture of the author Willing2Learn
    3 of my favorite books are as old as the hills and still apply very much today. Think and Grow Rich, The Science of Getting Rich and The Richest Man in Babylon. Goes to show that true wisdom never gets old.
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  • Profile picture of the author Mac Wheeler
    Thanks for sharing this, it gave me a smile over my morning coffee.

    Number 19 made me smile the most. How many people post here asking for advice, tips and help, and expect others to give away their secrets for free?
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  • Profile picture of the author dukesofhazard
    Most of the stuff we read in self help and marketing books today is stolen from these old works. When you think about it the fundamentals of business, marketing, success, etc. have changed very little
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  • Profile picture of the author Pilotben
    I was amazed when I read Think and Grow Rich, people and the way they think has not changed in so long, but now from seeing your post I'm even more amazed. Marketer would do well remembering these lessons, it hits the nail right on the head about selling something to someone. Very cool post.
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  • Profile picture of the author Mr. Ken Russell
    Awesome share! Can't wait to read the book
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  • Profile picture of the author laurencewins
    People who were around over 100 years ago weren't all ignorant. Some of the greatest minds existed. Also some of the best entrepreneurs, including Barnum, also existed and were successful. I would love a copy of the book.
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  • Profile picture of the author Will Edwards
    It's all excellent advice and it goes to show that some things don't change. Personally, I've always been a bit of a fan of The Science of Getting Rich by Wallace D Wattles - also in the public domain - but I do have a copy of the PT Barnum book and I really ought to get around to reading it.

    Will
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  • Profile picture of the author Bank
    Nice list, so true indeed
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    • Profile picture of the author CassAngel
      ...and of course he was used to working with clowns. I think we can all identify with that too....

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  • Profile picture of the author YasirYar
    Steve, those principles are very classic, and yet can apply today! It can even apply to making money online. I believe P.T. Barnum is a great guy like most of us here in WF. Will check out the book and read, thanks for the info!
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  • Profile picture of the author solomos
    ok that was a great post with great advices! I d like a copy of this book please!
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  • Profile picture of the author Kurt
    My Barnumism:

    Don't be the guy following the elephants with a snow shovel.
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    • Profile picture of the author Steve B
      Here are a few more money making related quotes by P T Barnum. I think they are just as relevant today as they were in his day.


      "The noblest art is that of making others happy." P T Barnum


      "Advertising is the first, second, and third elements of success." Quoted by Michael Zuckerman, "and in the Center Ring ..." Pennsylvania Gazette, May 1993


      "Without promotion, something terrible happens . . . nothing!" P T Barnum


      "I don't care what you say about me, just spell my name right." P T Barnum


      "Every man's occupation should be beneficial to his fellow man as well as profitable to himself. All else is vanity and folly." P T Barnum, The Humbugs of the World (1866)


      "Nobody ever lost a dollar by underestimating the taste of the American public." P T Barnum


      "Money is a terrible master, but an excellent servant." P T Barnum


      His last words were: "How were the receipts today in Madison Square Garden?"* P T Barnum

      *The building that became the first Madison Square Garden (in 1879 seating 10,000 spectators) was originally the New York and Harlem Railroad Depot which was leased to P T Barnum in 1871. He converted the building into what he called the "Great Roman Hippodrome" where his circus acts and other performances were held. The current Madison Square Garden is the fourth version of the building by that name, now located in Midtown Manhattan, NYC.

      Steve
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