Foreword

What follows is the original foreword for the book, written by the late Paul J. Meyer.

You can be a successful entrepreneur! Habits of Wealth shows you how by describing practical techniques that will help you gain or develop habits of entrepreneurial achievement. Bill Byrne does not present panaceas, elaborate or complex programs, or get-rich-quick gimmickry. Instead, he offers basic, common sense approach to achievement.

My own entrepreneurial experience has given me a firm belief in the power of habits---the right habits! Avoiding vague generalities characteristic of other books on achievement and entrepreneurship, Habits of Wealth provides precise and penetrating information on 111 specific habits guaranteed to generate wealth.

Bill Byrne's philosophy of business is strikingly similar to my own. Points he so convincingly makes in Habits of Wealth are the same ones my own experience and observation validate, including these conclusions I have drawn and recorded in my own writings:

• We first form habits; then habits form us. In the individual drive toward a successful future, if we do not consciously form good habits we will unconsciously form bad ones.
• Habits aren't instincts; they're acquired reactions. They don't "just happen," they are caused. Once you determine the original cause of a habit, it is within your power either to accept or to reject it.
• Every person who is successful has simply formed the habits of doing things that failures dislike doing and will not do.
• It is just as easy to form the habit of succeeding as it is to succumb to the habit of failure.
• The harvest we reap in our lives is measured by the attitudes and habits we cultivate.

To my knowledge no one has handled becoming a successful entrepreneur quite so comprehensively, explicitly and directly as Bill has done in Habits of Wealth. His beliefs about habits are tried, tested and time-proven. His clear-cut organization and clever presentation make for easy, interesting reading. Consider this sample of typical inviting topics:

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Don't Just Know the Numbers, Know the Right Numbers 

A Lesson from the Mafia

The Best Promotional Money You Won't Spend

Quicksand Quotient I

Effectiveness and Efficiency: Cousins, but Not Blood Brothers

If You Have Thoroughbreds In Your Stable Let 'Em Run

Luck Is No Accident

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While Habits of Wealth is written in a comfortable, conversational style that holds your attention, do not let its ease in reading betray the soundness of its concepts. The message deals in habits essential for personal and organizational success. Bill Byrne’s discussion and application of goal setting, for example, is one of the outstanding strengths of this well-founded book. The author not only advocates goal setting and explains its importance, he illustrates how to apply it from examples in his own business success and from the successful experience of others. Sharing success stories–as well as pointing out precarious pit-falls–facilitates application of the wealth of practical information in this book.

Another extraordinary feature of Habits of Wealth is its emphasis on ethics. Throughout the book he respects and encourages well-defined ethical boundaries. This gives confidence to the reader that other areas of this book are equally sound and provide a solid base for lasting success.

Franchising is a highly misunderstood opportunity in the business world today. The chapter on the entrepreneur and franchising is excellent; it clears up some of the common misconceptions about franchising. Sidestepping the usual hazy statements on the topic, Byrne spells out specific guidelines for evaluating prospective franchises. Then follows it up with other concrete suggestions for selecting financing and managing a franchise successfully.

Business capability is evident throughout Habits of Wealth. So is understanding and perception about people. Bill Byrne penetrates layers of self-deception because of his ability to read people. His discussion throughout the book on the importance of interacting effectively with people and the entrepreneurial leader's success is particularly insightful and helpful. His alliance of business expertise with people perception is a winning combination. The author's discussion in these following topics are especially astute:

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Creating the Delighted Customer

A Company Is Known by the Customers It Keeps

The Art of Empowerment

Motivation in Perspective

The Hiring Habit, The Firing Fallacy

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Habits of Wealth is positive and optimistic; it clearly outlines specific attitudes and actions that lead to entrepreneurial success. But the book offers more. It points out some of the problems and hurdles common to the aspiring entrepreneur. This guide probes these stumbling blocks people encounter on the road to entrepreneurial success-–and shows how to overcome them. Bill Byrne's "Top Ten Entrepreneurial Mistakes" is particularly discerning and useful.

A singularly distinctive feature of Habits of Wealth is that he speaks from experience, not just theory or simply hearsay. His successful track record as an entrepreneur qualifies him well for writing this book. He has profitably founded organizations in several business arenas. Inc. magazine annually recognizes outstanding business people; the competition is keen. In 1989 Byrne was named an Entrepreneur of the Year finalist.

As a veteran of more than 700 television appearances, he has an incredible ability to relate to others through the spoken word. This ability is transmitted skillfully to an ability to communicate clearly in the printed word. In addition, Bill Byrne is a living example of all he writes about. His clarity and sound thinking catapulted him to financial success at a very early age. His continued financial success is testimony to the soundness and application of his ideas.

Turning your entrepreneurial dreams into reality does not require magic; it requires a vast array of successful habits. Bill's approach can help you take the gamble out of entrepreneurial pursuits as you acquire, develop and put into practice his 111 well-documented habits. I congratulate Bill Byrne on providing this important book and I commend you for reading it. All the best wishes for your entrepreneurial success as you put into practice these Habits of Wealth.

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Paul J. Meyer, Founder 

Success Motivation Institute (SMI)

Leadership Management, Inc. (LMI)