*Date: 8/29/2024* Over the last few months, I’ve slowly but surely tackled The House of Morgan and Titan by Ron Chernow. While I initially started reading the books to learn more about the time period and history of finance and energy in America, a different theme immediately surfaced – fatherhood. Despite having a great relationship with his father, J.P. Morgan treated his son Jack as an afterthought and was a terrible father himself. On the other hand, Rockefeller’s relationship with his father can be summed up by the fact he was charged an exorbitant (think payday loan style) interest rate any time he needed financial help. He took that negative experience and decided to make it a positive – a theme that played out throughout other parts of his life too. Rockefeller became determined to be a great father to his son and be the mentor he never had. He famously wrote to his son regularly until his death and a selection of those letters were published in “Rockefeller’s 38 Letters to His Son”. I started that book admiring Rockefeller for his business success and his rags to riches story. I finished it admiring him as a father. Here are a few of my favorite quotes from the book, separated by topic. **The Consequences of Success** Because Rockefeller came from a modest background, he had an uncanny ability to compare and contrast the life of the rich and poor. - In this world, there is never a saying of inheriting wealth or poverty, same goes to inheriting success or failure. The only truth is that as long as you work hard enough, you will succeed. I firmly believe that our destiny is determined by our actions, not by our origins. - You need to strengthen the belief that even though the starting point will affect the outcome, it does not determine it. Factors such as ability, attitude, character, ambition, method, experience, and luck play an extremely important role in life and the business world. - I admit that the early advantage is really helpful, but it does not guarantee them a victory in the end. - People born into comfort are less likely to deal well with failure. **Failure** - Failure is the beginning of the journey to a higher position. I can say that what I have achieved today was from climbing the spiral ladder of failure and then rose from there. I am a clever “loser”. I know to learn from failures, draw success factors from my experience thru failure, and use innovative methods that I have never thought of before to start a new career. So, I want to say that failure is a good thing as long as it does not become a habit. - I hate it when my business fails and lose money, but what really concerns me is that I am afraid that in future business, I will be too cautious and become a coward. If that is the case, then my loss will be even greater. - Only by curiosity can you discover opportunities, and by taking risks can you make use of them. **Work Habits** - Doing small things is the cornerstone of making big things. To eat an elephant, you need to eat one bite at a time. - Successfully putting a good idea into practice is more valuable than thinking about a thousand good ideas at home. - Smart people will only learn from the work that has a positive effect in the future, and only concentrate on the work related that gives the greatest results. **Self Confidence** - But no one can stop you from moving forward. The person who hinders you the most is yourself. You are the only one who can go on forever. - Everyone has a time when they lose confidence and doubts their abilities, especially in adversity. But people who really understand the art of action can overcome it with strong perseverance. They will tell themselves that everyone has failures, and when they fail miserably, they will tell themselves no matter how much preparation they have made and how long they think before they do it, will inevitably make mistakes. - Everyone has a time when they lose confidence and doubts their abilities, especially in adversity. But people who really understand the art of action can overcome it with strong perseverance. They will tell themselves that everyone has failures, and when they fail miserably, they will tell themselves no matter how much preparation they have made and how long they think before they do it, will inevitably make mistakes **How to Treat Other People** - When “we” replaces “me”, the power it gives off will be incalculable. The reason why I can achieve great success is because I manage everyone first, every single one of them. - Any deceptive and unethical behavior cannot be sustained and cannot be a reliable corporate strategy. This only destroys the present situation, which will make the future increasingly difficult, and even impossible to gain another opportunity. We must pay attention to rules, because rules can create relationships, relationships will bring long-term businesses, good transactions will create more transactions, otherwise, we will end our good luck in advance. - Son, honesty is a method and a strategy. - A victory at any cost is not a victory. The ugly means of competition is disgusting. It is tantamount to painting the ground as a prison. You may never be able to surpass it. Even if you win a victory, you may lose the chance to win again.