Grant Cardone’s Playbook – Book Review by Shiri Prasad
Grant Cardone’s Playbook – Your Guide To Prosperity.
Grant Cardone talks about how to make money in a structured, common sense way. He explains that it takes discipline and patience, and he’s not wrong. However, all the heavy lifting is heaped upon the reader of the book. Grant is your cheerleader, your motivational speaker, and your confidence builder. I just finished another book by author Robert Kiyosaki, Second Chance, that tells the same story in a different set of circumstances.
The bottom line is that any actionable information in the book is yours to take for action. It’s a case of nobody is going to take care of you except you. Even after reading the book, you’ll see that is still the case.
So, here are the steps that Grant recommends you take to become a millionaire:
1. Follow the money. A better phrase would have been to chase the money by finding ways to climb the corporate ladder or become entrepreneurial and make more money consistently year after year and how to stay productive.
2. Don’t show off — show up! This is a “live within your means” speech and don’t spend on luxury items just because you saved your first $10K. That $10K has to work for you to produce the next $10K and son and so on … common sense and patience.
3. Save to invest, don’t save to save. This is repetitive of the point above. Don’t spend what you save, invest what you save and make it grow. Investment means putting the money where you can’t spend it. The less adventurous of us would put it a 3-year bank CD. The more aggressive of us would start a new business.
4. Avoid debt that doesn’t pay you. The gist of the issue here is incur debt only if it makes you money over time. Real estate is a good example. As time moves forward, the equity in your house after 5 – 10 years will be greater than what you owe. Thus your debt becomes an asset.
5. Treat money like a jealous lover. The upshot here is that if you want to keep the money you’ve earned, saved and invested, protect it at all costs. Duh!!
6. Money doesn’t sleep. The lesson to be learned here is that a strong work ethic will earn you more money than the person next to you if his work ethic is less committed. Correct, yes. Common sense, yes. Move on.
7. Poor makes no sense. In my humble opinion, this is a psychological trap. Some of the most stable and satisfied people I know have been poor by Grant’s standards. So have I. Some of the best times of my life were experienced when I was poor. Most of the worst experiences I’ve ever had came when I wasn’t poor.
8. Get a millionaire mentor. His name is Grant Cardone. Why do you think he’s selling his book, The Millionaire Booklet?
9. Get your money to do the heavy lifting. This is a retread of the old saying that it takes money to make money. That is another true statement. However, there are techniques to make money using someone else’s money as well. That gives rise to a more recent saying, Work smarter, not harder”.
10. Shoot for $10 million, not $1 million. Another standard motivational technique and honestly, a well-founded one. Always set your goal higher than you dream and reset it often to keep yourself focused on the prize.
The book itself is an example of how to become a millionaire, and Grant promotes it well and will no doubt make millions off selling it. If you need a motivator and a mentor, buy it. It serves the purpose well. If you have common sense and patience, chart your own course and begin the journey. Invest in a financial adviser instead and learn to manage your wealth.