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Money and life advice from Nike founder Phil Knight

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“You are remembered, he said, prophetically, for the rules you break.” ― Phil Knight, Shoe Dog


Nike is one of the most valuable and recognizable brands in the world.

It has been valued at over $20 billion.

I previously wrote briefly about the co-founder in the post How being an outlier can make you rich.

How did a small company that sold shoes out the trunk of a car get this far?

One word: Endurance.

The man behind it all fought through endless money woes, legal problems, lawsuits, and inventory issues for 20 years, but came out ahead in the end.

He is now estimated to be worth over $10 billion dollars.

His name is Phil Knight and this is his story.

A RUNNER WITH NO DIRECTION

“If you’re following your calling, the fatigue will be easier to bear, the disappointments will be fuel, the highs will be like nothing you’ve ever felt.” ― Phil Knight

Phil Knight was born in Portland, Oregon on February 24, 1938.

In his youth, he liked two things: sports and running.

At the University of Oregon (OU) he earned a journalism degree in 1959.

After Phil Knight graduated from University of Oregon, he then earned an MBA from Stanford Graduate School of Business. He graduated from the school with a master’s degree in business administration in 1962. At the age of 24, he has no idea what to do.

He looks over his final paper he wrote on shoes.

In his small business class, Knight produced a paper, “Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?,” which would foretell his eventual foray into selling running shoes.

WHAT’S IN A NAME

Ford had just paid a top-flight consulting firm $2m to come up with a name of its new Maverick, I announced to everyone. “We haven’t got $2m — but we got 50 smart people, and we can’t do any worse than… Maverick.” – Phil Knight

The company was founded on January 25, 1964, as Blue Ribbon Sports (BRS), by University of Oregon track runner Phil Knight and his coach Bill Bowerman, with a partnership by handshake and officially became Nike, Inc. on May 30, 1971.

The name from Nike, is named after the Greek goddess of victory.

When they needed to choose a name for Nike, the “Buttfaces” (an affectionate term for the inner circle) were trying to come up with something.

That night as Nike legend has it, Johnson, from a dead sleep, sat upright: “Nike, the winged goddess of victory! That’s IT!”

Jeff Johnson, employee number one of Nike, and fellow Stanford runner whom Phil hired as he hasn’t met anyone with his passion for running, suggested calling the firm “Nike,” named after the Greek winged goddess of victory.

It’s pronounced “ny’-kee.”

The name is Nike and their rival was Adidas.

It met with a lukewarm Buttface reception. In the eleventh hour, Knight begrudgingly went with it.

“‘What’d you decide?’ Woodell asked me at the end of the day. ‘Nike,’ I mumbled. ‘Hm,’ he said. ‘Yeah, I know,’ I said. ‘Maybe it’ll grow on us,’ he said.

FIND A MENTOR

FPhil had a great mentor, Bowerman, a great American running coach, who was constantly experimenting with shoes.

Bowerman would make then on his waffle iron.

Bowerman stressed that an extra ounce on a shoe added 55 pounds of lifting over one mile. As a mediocre runner, Phil was Bowerman’s favorite guinea pig (he wouldn’t dare jeopardize the top runners with experimental shoes).

He trained Olympic athletes so he knew what they needed to wear on their feet to compete. He trained one of the most prolific Olympic runners of that time: Steve Prefontaine.

Somebody may beat me, but they are going to have to bleed to do it. – Steve Prefontaine legendary runner of the 1972 Olympics

Bowerman was the most famous track coach in America, training local champions. It was said future Olympian Steve Prefontaine known as “Pre” did not want to run for anyone, but him.

He was also one of the top paid Nike endorsers before his death in 1975.

In my personal opinion, I do not think I have ever seen any runner run like Prefontaine with so much passion. I hold my breath every time I watch him run. It’s like time is standing still. You don’t want to blink because you know without a shadow of a doubt that you are witnessing greatness and what the human spirit could do without limits.

The real Steve Prefontaine

THE BUSINESS OF RUNNING

“Don’t tell people how to do things, tell them what to do and let them surprise you with their results.” ― Phil Knight (original quote by George S Patton)

Back in his day, running wasn’t a “thing.” People were ridiculed for running. There were no real running shoes. So, he set out to change that.

After graduating, he decides he must travel to figure out a plan how to see what the Japanese do with the making of shoes. Alas, he has no money. His only option is to ask his no-nonsense father. However, he feels that his father will not fund his wanderlust. But in a surprise, his father agrees and gives him $1,000 to go to Japan.

“How can I leave my mark on the world, I thought, unless I get out there first and see it?” ― Phil Knight, Shoe Dog

Phil goes to Kobe, Japan, in November 1962.

His father has two friends in Tokyo, and they dispense business advice – the Japanese are soft negotiators, not fans of the aggressive American style. Armed with this advice, he sets out.

He discovers the Tiger-brand running shoes, manufactured in Kobe by the Onitsuka Co. Phil was impressed by the quality and low cost of the shoes. Knight calls Mr. Onitsuka, who agreed to meet with him. By the end of that meeting, Knight had secured Tiger distribution rights for the western United States. Off the top of his head and thinking on his toes, he thinks of the blue ribbons on his walls in his room he won from running when asked what the name of his company as he says, “Blue Ribbon Sports.”

SIDE HUSTLE OF SELLING SHOES 

SIn the beginning, there was no money.

Phil sent shoes to his old coach to see if they would sell. Bowerman, who was obsessed with runner performance and making shoes lighter, not only liked the shoes, but asked to work on product shoe designs and from there a partnership was born. This was 1964.

His father’s friend advised him to get a CPA. With an MBA and CPA, he would likely never be out of work. So, he gets his CPA and a job at a small firm. It had 4 employees. He worked 70-hour weeks.

Phil still worked as an accountant during the day while trying to get his business of the ground.  Finally, in 1969, he quit working for the likes of firms as Price Waterhouse to work on his business full-time.  

So why was selling shoes so different? Because, I realised, it wasn’t selling. I believed in running. I believed that if people got out and ran a few miles every day, the world would be a better place, and I believed these shoes were better to run in. People sensing my belief, wanted some of that belief for themselves. Belief, I decided. Belief is irresistible. – Phil Knight

THE RICHES ARE IN NICHES AND PITCHES

TRunning is not a hobby or sport during his time in the 1960’s.

Mostly only student athletes were buying their shoes, as popular as they were, they appeal to just a small niche of the population.

He sold shoes at track meets out of the back of his car in the Pacific Northwest.

The pitch: Japanese shoes are extremely high-quality, low-cost shoes.

 A 300 order of shoes cost $1k. He got his half $500 from his father and the other was put up by Bowerman.

They SOLD OUT!

The shoes were so popular that people were showing up at his house to by them.

PHIL ON MONEY

P“But that’s the nature of money. Whether you have it or not, whether you want it or not, whether you like it or not, it will try to define your days. Our task as human beings is not to let it.”  ― Phil Knight, Shoe Dog

Money problems plagued the company.

Distribution rights became an issue so he had to fly to Japan (ticket paid for by credit card as he has no money) to plead his case to keep selling and got the green light. He found this out from a letter his employee named Johnson sent him. The lesson here is to listen to good counsel and advice. This very well may have saved the company from ever existing today.  

However, the company did want a bigger player in the shoe game to represent them, but Phil said they had offices in both coasts to shore up the deal.

(He was lying – they didn’t’ have an East Coast office).

No venture capitalist or angel investors in 1965. Phil had to use banks. They wanted big profits and slow growth. Phil was having none of it.

BOOTSTRAPPING IT LITERALLY 

BThe company was always strapped for cash. They had to stay lean to survive. And worked mainly in storage rooms and Phil’s apartment.  

Meeting the demands of the banks and customers became equally tougher.

EVERY. SINGLE. YEAR.

Trying to get imports on time, make cash payments to creditors, and get orders to customers was a logistical nightmare.

Onitsuka is painfully unresponsive as shoe shipments arrived late, which meant less time to sell, and each loan repayment period to creditors tougher.

EVERYDAY I’M HUSTLING

EPhil did everything he could do to keep the lights on, make payroll, and keep the company going. They were growing every year and sales were doubling, but they still had problems financially.

First year, they made $8,000 in sales in 1964. By 1967, says had grown to $84,000. They double again in 1968 to $160,000, but Phil still can’t afford to draw a salary.

So, he did what he and adult has to do when they need money: get a job.

That’s right, he went back to working in accounting.

He doesn’t love the work, but it pays the bills.

At this point in Phil’s story, I had to give him the slow clap of praise for doing what needed to be done.

However, sales double again to $300,000 in 1969, Phil is able to draw a salary of $18,000. He quits his job teaching and is at BRS full-time. In 1970, doubling again, sales reach $600,000. By 1971, they crossed the million dollar sales mark at $1.3 million.

Finally, it all came to a head when their Japanese exporter decided to buy them or give their business to someone else.

AN ACE UP HIS SLEEVE OR SOLE?

A“Have faith in yourself, but also have faith in faith. Not faith as others define it. Faith as you define it. Faith as faith defines itself in your heart.” ― Phil Knight

The biggest asset Blue Ribbon has is Bill Bowerman.

Remember the post I did on People are the greatest assets? Well, this is why. Keep reading.

Coach Bowerman continues to be a huge asset. His large reputation keeps growing – two of his runners medal in the 1964 Olympics. And he keeps tinkering with shoes.

He learns that Japanese and American bodies are simply different, and thus the shoes need to be different, like more arch support. To have a great chance in the US, he believes Onitsuka needs to customize their shoes for Americans.

He draws up countless designs and sends them to Japan, only to receive no response. Occasionally they relent and make a few prototypes, and indeed they’re far better. Undeterred by Onitsuka’s hesitance, Bowerman even experiments with producing homemade rubber to make new soles.

You might be able to see where this is going.

OUR SOLES AT KNIGHT LEARN YOYO: YOUR ON YOUR OWN

OThey secretly start manufacturing their own shoes. Having dreamed about Nike as the name for the company, it was then born and the sidestepped acquisition.

Their reputation sold their shoes and saved their company.

They also learned how powerful celebrity endorsement is as well.

When the company was in dire financial straits one of his top employees (#4 full-time) Woddell and his family gave him their life savings of $8,000 ($50,000 in 2017 inflation) to keep Nike afloat. A friend indeed.

PHIL ON MANAGEMENT

PHis employee in CA, Johnson, he sends Phil mountains of letters, detailing his every development, every sale and notable customer.

He sends advertising ideas (Phil doesn’t believe in advertising), shoe designs (Phil already has enough to deal with Bowerman), and his insistence on opening a retail shop in Los Angeles.

Phil feels smothered and rarely replies to Johnson’s letters. From studying war heroes and generals, he holds a virtue: “Don’t tell people how to do things, tell them what to do and let them surprise you with their results.”

And Johnson delivers results. His customers love him, depending on Johnson to solve their problems in both running and life. Even when he gets in a car crash and breaks his skull, he’s continuing to sell shoes. Phil even issues him a challenge – sell 3,250 pairs of shoes in a few months, and Johnson could open his retail space in LA. And sell he does – now Blue Ribbon has an official runner mecca in Los Angeles.

MARKS OF VICTORY

MOn his travels, he stopped in Greece. While visiting the temple of Athena, he notices a carving of Athena – bending down to adjust her shoe. She is known to be the goddess of wisdom, battle strategy, and victory or “nike.”

And what’s THIS?

That’s a swoosh.

The hell’s a swoosh?

The answer flew out of me: It’s the sound of someone going past you.

They liked that. Oh, they liked it a whole lot.

The trademarks of “Just Do It” and the Swoosh logo became synonymous with Nike. The logo is also one of the most powerful in the world.

The logo was commissioned for a mere $35 USD from graphic design student at Portland State University by the name of Carolyn Davidson in 1971. She charged them only $35 for her work.

According to Nike’s website, Knight said at the time: “I don’t love it, but it will grow on me.”

PHIL ON PRAISE AND CHARITY

PPhil never gave praise or money. But…

He was so pleased with the logo that in 1983 he gifted Carolyn with an undisclosed amount of Nike stock for her contribution to the brand. She had worked for the company from 1971 until 1980.

That year, 1980, is the year Nike went public with an IPO.

Phil told Oprah on her show in April 2011, that he gave Davidson “A few hundred shares” when the company went public.

For years, the value of the stock was unknown.

Well, guess what? You’re about to find out right here, right now.

What is the cost of helping someone when commissioned with a task and not thinking it is beneath you?

I did some research and located this article from Business Insider.

Counterkicks got a hold of a recent Nike shareholders meeting transcipt in which Knight reveals exactly how much stock he gave Davidson and the value of that stock today…

“…we hired a graphic art student at Portland State University, and told her to come up with something that connoted speed, and we gave her $75.00 for what she came up with. When we went public in 1980, we called her back up and gave her 500 shares of stock, which she has never sold, and is worth close to $1 million this day.”

His top employee’s or the foot soldiers as I like to call them, Bowerman is worth $9 million; Woodell, Johnson, Hayes and Strasser each about $6 million; Phil $178 million.

In 2012, it was reported that Knight himself owned 67,097,005 shares of Class A Common Stock and 7,740 shares of Class B Common Stock in the Nike corporation.

Nike has revenues of $20 billion annually.

In 2018, he is now estimated to be worth $29 billion dollars. Him and his wife donate $100 million a year.

PHIL ON HELPING OTHERS

P“When goods don’t pass international borders, soldiers will.” Though I’d been known to call business war without bullets, it’s actually a wonderful bulwark against war. Trade is the path of coexistence, cooperation. Peace feeds on prosperity. – Phil Knight

When on travels in his younger years he went all over the world.

He noticed incredible poverty in places like Vietnam.

When his goal of taking over Adidas as the number one shoe company in the world, by 1986, total sales hit $1 billion, and Nike surpassed Adidas to become the No. 1 shoe manufacturer worldwide.

He also was able to fulfill some other dream. He opened factories in Vietnam so that war would likely stop there due to commerce and work.

Luck plays a big role. Yes, I would like to publicly acknowledge the power of luck. Athletes get lucky, poets get lucky, businesses get lucky. Hard work is critical, a good team is essential, brains and determination are invaluable, but luck may decide the outcome. Some people might not call it luck. They might call it Tao, or Logos, or Jnana, or Dharma. Or Spirit. Or God. – Phil Knight

Read my post Wealth comes from doing not luck.

Knight’s memoir, Shoe Dog, was released on April 26, 2016 by Simon & Schuster, was rated fifth on The New York Times Best Seller list for business books in July 2018, and details the building of the Nike brand.

Knight has donated hundreds of millions of dollars to each of his Alma Maters including $105 million to Stanford Graduate School of Business in 2006.

As of 2016, according to Portland Business Journal, “Knight is the most generous philanthropist in Oregon history. His lifetime gifts now approach $2 billion.”

It is safe to say that Phil Knight and his Nike business are a running success.

They live their dreams. They just do it.

For Nike, there is no finish line.

Financial Freedom

Oprah’s 10 commandments for lifelong success

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Rather than love, than money, than fame, give me truth. – Henry David Thoreau

I recently read the book Oprah Winfrey Speaks : Insights from the World’s Most Famous Influential Voice.

It was very inspiring.

Here are some of the things the “Queen of Media” had to say:

“Just tell the truth. It’ll save you every time.”

“Don’t complain about what you don’t have. Use what you’ve got. To do less than your best is a sin.”

“Every single one of us has the power for greatness, because greatness is determined by service-to yourself and to others.”

“I am a woman in progress. I’m just trying like everyone else. I try to take every conflict, every experience and learn from it. All I know is that I can’t be anybody else. And it’s taken me a long time to realize that.”

“If you’re angry, be angry and deal with it. Don’t go eat a bag of Ruffles.”

“God blesses you better when you pray on your knees.”

Oprah Winfrey is worth an astounding $2 billion dollars. I figured if anyone could talk about what it takes to be successful it’s her.

OPRAH ON COMMENCING SUCCESS

Oprah gets requests to speak at college commencements. Sometimes she accepts. Hear her talk about life and success to recent college grads in this 2018 commencement video.

And now, let’s talk Oprah’s 10 commandments for success.

OPRAH ON PLEASING OTHERS

Oprah Winfrey’s Ten Commandments for Success

  1. Don’t live your life to please others.

You better believe it. When I was younger, I was so concerned with what other people thought of me. I was teased so bad that I just got numb to it all.

I started focusing on my education. Read every book I could get my hands on. Looked for colleges I could go to that were affordable. Made sure my personal style and grooming became impeccable. The teasing stopped. I never looked back. Read my post on being fearless. 

That was in high school.

When I stopped trying to people please my life got better.

I also noticed whenever someone would call me selfish after I just finished helping them out or because I chose not to help them out at onetime or another. Just ignore the them. Push ahead and move forward.

I let those people go and cut them out of my life. Or cut them back. I need people that will lift me up.

No one can stop you. If you are meant to have it, no one can stop you from getting it.

Thank u, next!

OPRAH ON DEPENDING ON SELF

2. Don’t depend on forces outside of yourself to get ahead.

That’s right. Everything I every really got in life was due to hard work, determination, and persistence.

It didn’t matter if someone helped me out or gave me anything. I still had to work to keep or maintain it.

OPRAH ON HARMONY AND COMPASSION

3. Seek harmony and compassion in your business and personal life.

I too have noticed when I have my personal life in order, then I can also get my professional life in order.

The two are connected.

A cluttered home or office usually leads to a cluttered mind.

Simplify your life and always keep moving forward.

Like that animated movie, Meet the Robinsons taught its young audience, you can’t stop moving forward.

OPRAH ON SURROUNDING YOURSELF WITH GOOD PEOPLE

4. Get rid of the backstabbers—surround yourself only with people who will lift you higher.

In the book, Oprah Winfrey speaks, Maya Angelou went to court when Oprah was involved in a lawsuit in Texas. When asked what made her come down to Texas she stated, “I am here to lift Oprah up. For no other reason than that.”

Get rid of naysayers, negative Nancy’s, and Debbie Downers. They will only bring you down.

You do not have to be friends with everyone. Everyone does not have to like you. But we can respect each other.

OPRAH ON BEING NICE

Abstract autumnal backgrounds with petzval lens bokeh

5. Be nice.

A little kindness can go a long way.

I learned that Oprah said as a little girl her family was poor. They had so little money that one time they could not even celebrate Christmas.

Then on this one fateful night, a group of nuns visited her family and offered Christmas dinner. Oprah was so grateful and thankful that someone cared she decided she would make sure in her life she always helped others.

Due to this story, I decided I would also do the same. Making a difference in the life of others is its own reward. I love to write. So, I write. I don’t do it for the money. I do it because this is my passion.

OPRAH ON GETTING RID OF VICES

6. Rid yourself of your addictions—whether they are food, alcohol, drugs or behavior habits.

Yep. I had an addition to credit and shopping. It took years to understand that I was psychologically using shopping as a way to fill avoid.

 Once I was able to identify the problem, I am happy to report that shopping was never a problem  for me again. I shop with lists, on a budget, and do not impulse buy.

You are looking at a reformed shopaholic.

I also was able to change my eating habits because I focused my energy more on working than eating.

I only needed three square meals to do the work. Made sure not to have idle hands. And to get the work done, it required me to exercise so I would have more energy and strength to work even more doing my passion!

OPRAH ON SMART PEOPLE

7. Surround yourself with people who are as smart or smarter than you.

I once read a woman say she when she goes out on she asks dates men do they have a passport and a library card.

She wanted someone who had traveled and was as well-read as she herself was. Since, it’s easier to maintain a relationship with people we have things in common with. She figured just ask for what she wanted. 

I always recommend books for people to read about finances.That way, instead of always having to ask someone for help, pay a professional financial advisor, or feel inadequate in any way you would now be knowledgeable.

I like to fill the gaps in anyone’s financial education. That way, if you know what I know, we are equals.

This is also why many people tend to meet and marry people that run in their social circles. It’s easier.

OPRAH ON MONEY

8. If money is your motivation, forget it.

Don’t even get me started.

It’s funny because I noticed whenever I focused on money it never appeared. When I stopped focusing on it, like chicken little said, it fell from the sky.

Money attracts money. Money is attracted to money.

Therefore, it is best to figure out who you want to be and what you want to do. If you are good at whatever it is, the money seems to come.

“Do what you love and the money will follow.” — Marsha Sinetar.

Build up the capital first, then start a business.

“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.” ― Brigham Young

I learned that like I control a car, I also control and command my money. I tell it what to do. It doesn’t control me. YOU control it!

When you are angry, frightened or beg for money it seems to pull away from you.

If you act like this, would you want to hang out with you?

OPRAH ON POWER

9. Never hand over your power to someone else.

Absolutely, not!

When I read Pat Benatar’s biography, the two things I remember most are this:

One – when she said that her family went on annual vacations on someone else’s dime. Their creditor. They borrowed from their home to do it.This caused the family to go from having a home that was purchased for $7,000 to balloon to a $45,000 balance! They traded their life energy and many more years of working for a few days of fun every year. The creditor after 20+ years of payments still had power over their lives. She said it was not worth it.

Two – after signing her record deal with Chrysallis, she said she became an indentured servant. The label or “suits” had control of everything they did. It ruined relationships within the band that took years to repair, if ever. When her contract ended she never gave her power away again!

These are lessons we all can profit from. Do not give up your power. NEVER. EVER. EVER. 

OPRAH ON PERSISTENCE

10. Be persistent in pursuing your dreams

Never give up if you really want something, keep plugging away at it and your dreams can come true. – Robin Leach

I agree. One of my biggest dreams in life was to get a good education. It took me years to get where I wanted to go, but it happened.

Now, I not only finished college, but on average I read about 50 books a year.

It took me 15 years to get to the level I aspired for myself.

I just never gave up.

And neither should you.

Careers, Celebrities and Money, Relationships, Self-Made Millionaires, Wealth

Oprah’s 5 lessons for a great life

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Passion is energy. Feel the power that comes from focusing on what excites you. – Oprah Winfrey

I fully agree with that statement. I learned from Richard Branson, the founder of Virgin, to do what excites me. So, every post I write is a topic that I am excited about.

I write what’s brewing around in my head, what is burning in my soul, and straight from my heart.

Sometimes, I think of that scene in Spider-man Homecoming when Tony Stark (Iron Man played by Robert Downey Jr. aka RDJ) meets Peter Parker (played by Tom Holland).

You can check out that scene here.

He says this to him:

Tony Stark: Why are you doing this, huh? What’s your MO? I’ve got to know, what gets you out of that twin bed every morning?

I ask myself that question. What  gets me out of bed every morning and gets me going? If it doesn’t excite me, then I’m not going to do it. And that is exactly how I feel about writing for this blog.

This blog will be very lively and spirited. That’s me. Full of energy.

GET EXCITED

I don’t plan to bore you. I want to be the place you go to wake up to. Like a radio station. I want people to come here to learn new things, get inspired, and when they leave to feel good.

I also try to only do what excites me in my personal life as well. There’s no fear of missing out for me. If it’s meant to be, it’ll happen. If not, move one. There’s always another rainbow, opportunity, or chance for adventure somewhere. I say, onward and upwards.

Obviously, Oprah needs no introduction. You know the face and you know the name.

She has won multiple Daytime Emmy’s, been nominated for an Oscar, and is regularly asked to attend and speak at major events all over the world.

Well, Oprah once did the commencement address at Wellesley in 1997. In her address, she discusses 5 important lessons she has learned for a better life.

Here are  the 5 quotes from Ms. Oprah Winfrey that have inspired me and I hope they do the same for you.

OPRAH ON LIFE

My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. –  Maya Angelou 

  1. Life is a journey. Every day experiences will teach you who you really are.

I remember reading a book and a man commented that he witnessed someone being mistreated. When he asked the man why he didn’t say mean things back to those who were saying awful things to him, he responded, “You cannot fight hate with anger. You can only show people who you are by how you live your life.”

Indeed.

See my post on how to thrive by working harder than others that I learned from Jay Leno

Money Lessons I learned from Jay Leno

OPRAH ON PEOPLE

When someone shows you who they are, believe them the first time. – Maya Angelou

2. When people show you who they are, believe them the first time. This is especially helpful with men. Don’t force them to beat you over the head with the message.

I have definitely learned this lesson.

In this life, if you want to not only survive and thrive, then you must learn to weed out the good from the bad apples quick!

Check out my post on what can happen to people that learn to value things more than people.

Money and Relationships…3, 2, 1

OPRAH ON WISDOM

A loving heart is the truest wisdom. – Charles Dickens

3. Turn your wounds into wisdom. Everyone makes mistakes. They are just God’s way of telling you you’re moving in the wrong direction.

If you ever saw that movie Sky High, his mom told him the following:

OPRAH ON BEING GRATEFUL

Let us be grateful to people who make us happy, they are the charming gardeners who make our souls blossom. – Marcel Proust

4. Be grateful. Keep a daily journal of the things you are grateful for. It will keep you focused on the abundance in your life.

It most certainly helps to think about all you do have, instead of what you don’t.

OPRAH ON HAVING VISION

Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.  – Melody Beattie

5. Create the highest, grandest vision possible for your life because you become what you believe.

We have to teach our girls that they can reach as high as humanly possible. – Beyonce

I remember reading that Bella Thorne creates a vision board for herself every year. Say what you want about her, but she is a hard working woman. You know why? It’s because she has a vision.

Arnold Schwarzenegger does something similar. Read all about it below. Very motivational.

How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks

If you want something in this life, you better be prepared to work for it. Nothing is free. Rarely is anyone ever handed anything in life. And even if you are, do you know what to do with it? Or how to manage it? It’s a lot harder to stay on top, when you haven’t done any of the work it takes to get there in the first place.

It wasn’t until I decided that I would be rich, that I started earning and attracting more money.

I learned that it all starts with the mind. Change your thoughts, change your life.

Financial Independence, Saving, Wealth

Forget casinos, bet on yourself

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“There is a gigantic difference between earning a great deal of money and being rich.” —Marlene Dietrich

You bet there is. I am a firm believer in being rich in assets. Those are the things that will help you build wealth. They attract money to you.

I once read a wealthy gentleman online state he wants to be cash poor and asset rich.

Basically, he is looking to have more assets than a fat paycheck. He knows money can slip through your fingers. Assets do not easily slip away.

The bigger the paycheck means the higher the taxes you pay Uncle Sam. In contrast, assets usually go up in value and earn interest over time. Capital gains tax is lower than income taxes.

So, if you want to bet the farm, then put it all on staying in the black and not the red.

CASINOS ARE NOT WHERE THE WEALTHY ARE

I know you see all the television shows and advertisements telling you to go to Vegas. However, that is just a way to get you there to spend money. Most wealthy folks are not rolling the dice with their finances.

Casinos are designed to separate you from your money. Just like subscriptions. Read my posts Do not cash out your retirement accounts and  America is the land of subscriptions.

I have read enough blogs and books to know that you must hang around like-minded people.

Motivational speaker Jim Rohn said, “You’re the average of the five people spend the most time with.” And so is your net worth.

We are influenced by those we associate with. These relationships over time can have a profound effect on our lives.

Therefore, you must choose wisely when it comes to friends, business partners, and spouses.

The wealthy are about building assets. Therefore, you are not likely to see them at the casino at four o’clock on a Monday afternoon. They are out volunteering, networking, and closing business deals.

HOW DO CASINOS MAKE MONEY

A Canadian study stated that 75% of customers provide only 4% of casino revenues. It’s the habitual gambler that keeps the casino in business.

If you ever saw Mark Wahlberg in The Gambler, then you know who I’m talking about.

Computer gaming and slot machines are all the rage when it comes to gambling.

Most players lose more than they win. I don’t like those odds. Therefore, I do not gamble.

That means people with gambling addictions are the most vulnerable. Or you can become addicted after getting a taste of winning like in the film 21.

Slot machines are, like credit, addictive. Casinos actually can make you poorer. This exacerbates inequality.

CASINOS WILL HELP THE ECONOMY RIGHT?

Not so fast. Let’s take a look at Atlantic City.

Back in 1977, casino advocates made promises that casinos would help give the economy a boost by providing jobs. Don’t get me wrong, they did provide jobs. However, the surrounding local business owners did not get the foot traffic coming into the casinos.

The money that casinos make, stays with them.

Many local businesses had to close up shop. The retail economy collapsed all around Atlantic Avenue in New Jersey. Several casinos have actually shut down since 2014. That means jobs were lost not gained.

HOW TO BET ON YOURSELF

Devote all your time, money, and resources into yourself.

Use your hard earned money to invest in your education, training, and business.

When I was watching David Tutera plan those weddings on television, I learned he wasn’t doing this for, in the illustrious words of Sia, cheap thrills. He did it for a living. And earned good enough money to have a nice home, wardrobe, and chauffeur.

David started party planning and entertaining over 20 years ago. He just invested his time and money into himself. Eventually, he found what he was good at and then he just stuck with it.

There are countless tales of people out there that have found a skill they are good at, practiced and developed it, then went out and started earning a living at it.

Read up on some biographies. See for yourself. I recommend reading anyone you have an interest in or trailblazers such as Gloria Steinem, Arnold Schwarzenegger, Franklin Roosevelt, Charlie Chaplin, Oprah Winfrey, Winston Churchill, or Nelson Mandela.

WHAT CAN YOU DO NOW?

First, I feel people need to assess their situation. For example, when I was growing up I noticed that a lot of kids were not very into studying and really focused on their academics. However, many wealthy people I saw on television always advocated for education.

I figured, why not listen to other successful people?

I started studying and reading more. Especially, thanks to shows like Reading Rainbow hosted by Star Trek’s Next Generation alum LaVar Burton. I would go to the Book Mobile and get tons of books.

Much of my focus was less on having fun and more on learning. Saturday mornings were spent reading on my parent’s couch. Sunday afternoons were spent reading the comics and learning new things and vocabulary words.

I invested lots of time and money into my education and health.

And all of this paid off in spades.

I have four retirement accounts, a home, a car (no monthly payment), and save and invest upwards of 50% of my income.

It took me over a decade to build those things. But it all started with getting an education.

Sure, college helped, but it was sheer grit, discipline and determination that got me where I am today.

THE FUTURE MR. OR MRS. FI

If you want to have a chance at financial independence, I suggest you do the following:

  • Focus on learning more about money and finance
  • Stay away from debt
  • Get a good education (the best you can afford)
  • Pay for cars and appliances in cash
  • Opt for a 15-year mortgage
  • Stay away from vices (narcotics, alcohol, gambling, shopping)
  • Hang around like-minded people
  • Save 20% or more of your income
  • Invest 15% or more of your income

If you can do at least two of the items listed here, you have got a shot at making it into the top 10% of households and becoming financially independent.

Fictional characters Cartoons and Money, Financial Freedom

Money and Life Lessons I Learned from CBS Storybreak’s Yeh-Shen

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“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” Chinese Proverb

“What you do not wish for yourself, do not do to others.” Confucius

Anyone out there that has been reading my blog, you can probably tell by now that I am a big fan of cartoons. I even named my blog after a scene in one. See my Meet Miriam page for more on how I came up with the name Greenbacks Magnet.

Anyhow, if you grew up in the 80s or 90s, then you may remember a Saturday morning anthology television show that aired on the CBS network called: CBS Storybreak.

Click here or on the logo to see the CBS Storybreak Intro.

It originally aired from 1985 to 1987 and was hosted by none other than Captain Kangaroo, Mr. Bob Keeshan.

Each episode was 30 minutes long and retold a beloved children’s story in animated adaptations.

It was later rebroadcast from 1993 to 1994 and was again returned to air in reruns in 1997 to 1998. This time it was hosted by actor Malcolm Jamal-Warner.

YEH-SHEN

My favorite episode of the series was entitled, “Yeh-Shen: A Cinderella Story From China.”

Yeh-Shen is a Chinese fairy tale that is similar to the European Cinderella story.

The one adapted on the anthology series, Yeh-Shen: A Cinderella Story From China, retold by Ai-Ling Louie and illustrated by Ed Young, is a well-known children’s picture book adaptation of the fairy tale, which was originally published in 1982.

If you are unfamiliar with the story or the animated series, a kind soul uploaded it to YouTube, and I have linked it here for you to see.

Fast Fact: One of the voices in this 1985 animated anthology of Yeh-Shen, was played by actress Emily Kuroda. She played Mrs. Kim on Gilmore Girls.

Mrs. Kim ran a tight ship, but was hilarious.

And Gilmore Girls happens to be one of my favorite shows. I want this website to be the Gilmore Girls of blogs, as there will be enough pop culture references in here to make your head spin, but that, like Lorelai and Rory, is how my mind works.

Now let’s get to the story.

VIRTUE CAN BE SEEN IN RAGS AS WELL AS SILK

“I believe that virtue shows quite as well in rags and patches as she does in purple and fine linen.” – Charles Dickens

Yeh-Shen always kept a neat and clean appearance. She kept her place in the home tidy. She also told the truth. And always acted with dignity and grace.  People noticed, including nobility. And not just any noble, A King. Ursula said it best, starting at 1:02 minutes.

I learned to keep a clean appearance at all times and take very good care of myself. I regularly get exercise, read, brush my teeth, and eat my three square meals a day. And people notice, including my partner. My appearance is one of the things that attracted my boyfriend to me.

FRIENDS ARE IMPORTANT

Yeh-Shen’s only friend is a fish named Gold Eyes. He is a spirit that is there to look out for her, that was sent by her mother, as a way for her to look after her beyond the grave.

Gold Eyes always helped Yeh-Shen. He would assist her with her laundry, give her food and advice, or provide anything else she needed help with.

She would share her meager breakfast with him, even though she had so little for herself. She was a good and kind person and a dear friend. In return, Gold Eyes held her in high regard and was always there for her in return. He tells her she deserves better and one day will have it.

From this, I learned how important friendship is. True friends are there in good times and bad.

It’s like Oprah Winfrey said, “Everyone wants to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.”

Agreed.

POVERTY IS HARD

However, there is no shame in being poor.

Upon the death of her parents, Ye-Shen is poor. She becomes a lowly servant to her stepmother and her daughter. No matter the amount of work placed upon her, she does her duties, and does them well.

It didn’t matter how hard Yeh-Shen worked or how obedient she was. She was treated badly simply because she was poor.

A man in town even looked her over because he said he was looking for a beautiful wife and not a pretty servant.

From this, I learned two things: (1) A job worth doing is worth doing well, and (2) do all you can to change your station in life. You may be born into poverty, but only you can determine if you remain that way forever.

Might I suggest reading biographies and books about money. And get your education. A good one.

MANNERS MATTER

Every time someone spoke to Ye-Shen, she spoke elegantly and courteously. No disrespect. People remembered and appreciated that about her.

Those manners got her far. She was able to escape trouble, punishment, and land the attention of a handsome noble from minding her manners.

MIND YOUR BUSINESS     

Her stepsister did not want Yeh-Shen to go to the festival because that is where people go to find a husband or wife. She said, “she couldn’t handle that type of competition.”

In addition, when she finds out about Yeh-Shen’s fish, she tells her mother, who then gets rid of him. In the end, it turned out to be fortuitous for Yeh-Shen.

Do not focus so much on others. Mind your own business. Run your own race. You could be getting yourself together and becoming your own success, if you focus less on what others are doing.

POSITIVE AFFIRMATIONS

In the show, her stepsister repeats this phrase after her mother tells her she wants to hear positive thinking and not any negative thinking, “I will find a husband, I will be a bride.”

To this day, I practice my affirmations. I actually learned this from Yeh-Shen. I reject negative thinking and focus on being positive. Optimism gets results. Negativity does not.

MISERY LOVES COMPANY

When the stepmother learns of Yeh-Shen’s talking fish she decides to get rid of him. Leaving Yeh-Shen all alone.

Those who are unhappy, don’t want to be alone in their unhappiness. It is your job to get away from them. They will only drag you down.

FATE

Gold Eyes turns into magical bones. He tells Yeh-Shen not to despair, as this was his fate. He is still there with her, even though only in spirit.

Like Doris Day said, “Que será, será, Whatever will be, will be, The future’s not ours to see.”

You cannot control what is meant to be, but you can control your actions and how you respond to others. Stay in control. Have a cool head. Control your emotions, control your life.

KINDNESS

Gold Eyes tells Yeh-Shen that he must repay her kindness. Her stepmother would feed her very little. Therefore, Gold Eyes would provide huge meals for her as a way to compensate for this slight.

Even after all they put her through, she asked Gold Eyes if she should share with her stepmother and sister. He replies by telling her, “Did they share me with you? No. This gift is from me to you.”

He says to her that she can ask for something more, but she says, “this is all I need.”

Being nice has its rewards. I always repay a kindness. However, there is a thing as being too nice. You have to set limits and boundaries with people. In addition, you must also stand up for yourself. You can be nice, but don’t be anybody’s fool. Also, only take what you need. No need to be greedy.

DO NOT BE EASILY PROVOKED

Throughout the entire episode, she is repeatedly reprimanded, punished, neglected, scolded, and insulted. She never responds to this.

Sometimes you have to be man or woman enough to walk away. You must pick your battles. Live to fight another day.  Move on.

YOU MUST GIVE TO GET

When Gold Eyes tells her she deserves more and that they should not treat her so bad she says she knows.  But she was an orphan and they gave her a home.

He offers to do her chores for her, but she says she does not mind doing manual labor, for now. She hopes to find a husband (her true love) at the festival. He concedes and tells her if that is her destiny so be it.

She is offered the world on a silver platter and turns it down.  She wants to make her own future on her terms. It is best to keep your head down and work. You must give to get. That is just how the universe and karma works.

BROKEN PROMISES AND DREAMS

She helps her stepsister get ready for the festival. After, she is done, she says she must get herself ready and asks if it is still alright for her to go, as her stepmother promised.

Her stepmother breaks her promise. She tells Yeh-Shen she can go to the next one, or the ones after, but this this one for this year. Yeh-Shen was looking forward to that festival all year. Hope was thoroughly dashed. Yes, this can happen in life.

A TIME TO BE DISOBEDIENT

When her family leaves to go to the festival, Gold Eyes tells her she should go. She says she has nothing to wear. He then magically turns his bones into golden slippers, which transforms her plain clothes into a gorgeous dress. She disobeys her stepmother and leaves to go to the festival.

In life, there is a time to act. You must decide if you are going to break the rules.  And if you are, you better make sure it’s for a good reason.

DEMURE AND CHARMING

At the festival, her family sees the man referred to as The Handsomest One. She then gives a toothy smile and he scowls at her. It was hilarious.

Her mother then says your supposed to charm not scare him. She then goes on to say, “Let’s try the not handsome, but rich crowd.” Come on, really?

Then enter Yeh-Shen all dolled up. Yeh-Shen, who is usually demure, looks confident and sophisticated. A far cry from the reserved creature you are used to seeing in this episode.

Her mother remarks that, “There is the prize winner. She will get the handsomest, richest husband.” She says to her unmarried daughter, “Why can’t you look like that?” Who smartly remarks, “because I was born from you.” Her mother then pinches her.

Oh yea, for a drama it also has quite a bit of comedy. It’s a dramedy for sure.

HATERS GONNA HATE

When Yeh-Shen walks her stepsister says that she had hot nothing to do all day, but take dancing lessons and be pampered. Come on. Hating like that will give you wrinkles unmarried daughter.

It doesn’t matter how nice you are or what you do for people. Some people just are some haters! Ignore them. They hate us, cause they ain’t us. I say don’t hate, congratulate. Figure what they doing so you can see what makes them so successful and find the secret recipe, so you can copy it.

PRICELESS

At the festival, she runs away and loses one of the gold slippers. A man finds it and sells it to the merchant. The merchant then gives it as a gift to the King.

The gold slipper is referred to as priceless. And it is. Rare indeed. When something is priceless, you don’t just give it away to anyone. The merchant gave it to someone he felt was worthy.

A GIFT  FIT FOR A KING

The King feels that the slipper must belong to someone of great beauty and wealth. He decides to find the owner. Who just so happens to be Yeh-Shen; who is also looking for a golden slipper.

If something is lost, then you may decide to return it to its owner. However, do not think that it will come with a reward or be some fairy tale, happy ending. All that glitters may not be gold. In this case, the owner was a poor, orphaned, peasant girl. But there is more to her than people can see.

SEEK AND YOU SHALL FIND

Yeh-Shen asks around town to find the other slipper She finds a man who sold it to the merchant.  He then tells her he gave it as gift to the King. She says she must acquire it from the King. The merchant tells her to go to palace to go try it on. She says, “Thank you sir, I shall.”

If you want something, go and get it. Sitting on your laurels has never helped anyone.

THE POOR HAVE NO VOICE

Yeh-Shen waits in line all day to try on the slipper, but is denied. She then tries to take it. The palace guards accuse her of trying to steal it. They called her a girl in rags. She tells them the slipper belongs to her friend, a dead fish, as the slipper design is like the scales of a fish. They lock her in the dungeon.

First, if she had been a woman of nobility, she would not have been treated this way. To be poor is not a crime. However, if you want to be heard, you must ask the right way.

Second, you cannot even look as if you are attempting to steal something. There is a saying that, if you’ll lie, you’ll steal and if you’ll steal, you’ll kill. Do not even give people a reason to think that.

MERCY

The King says to have her released in the morning.  A guard tells her in a curt tone to get out and stay away. She merely bows.

Like in the Karate Kid (1984), there is a time to show mercy. A tense situation arises between an adult and a teen. And they needed an adult at the wheel. Mr. Miyagi was that adult.

And for those who do not know Mr. Miyagi, this is for you. Please do not be like that kid on that episode of Supernatural.

For those of you who do not know or may not remember, here is the scene of Mr. Miyagi teaching Daniel son another life lesson.

A TRAP SO TINDER

Better than any tinder app could do, the results of this match are written in the stars. Slide left, I mean right. Don’t want to make that mistake.

The King sets a trap to leave the slipper unattended so Yeh-Shen will take it and he will then follow her to see what she does and why it’s so important to her. That’s smart.

And pretty slick, if you ask me. Reminds me of that scene in Hackers (1995). 

PATIENCE

They wait. She takes the slipper. They follow.

Anything worth having is worth the wait.

IT DOESN’T BELONG TO YOU

After getting the slipper back, her step family find her out. Her stepmother is happy to have a matching pair of gold slippers. She says their fortune is made and their ticket out of the cave. She will sell to the King.

You do not own and cannot sell what is not rightfully yours.

NO THIEF HERE

The King stops the squabbling between Yeh-Shen and her stepmother. She tells him she is no thief. She needs to have the slippers together so that her friend can go return to the pond of his forefathers.

Sounds crazy, I know. However, when in doubt, tell the truth.

WHO ARE YOU?

The problem with playing games is that you get hurt too. – Common (actor, rapper, entrepreneur)

She tells the King who she is. No more games or pretending.

He asked. She answered. Tell people who you are.

GET TO THE ROOT OF THE PROBLEM

The King asks her, “What are these slippers to you?” She says they belong to her friend. Explains her story to the king.

That’s right. Tell people your story. Share what you are trying to do. You will be surprised how much people are willing to help you when you are doing the right thing. Also, when you know the truth, then you can deal with it.

DO THE RIGHT THING

The King tells her if that is what she must do with the slippers, then do so. He then says “but first, place them on your feet.”

She obliges and transforms back into the woman seen at the festival that day in the beautiful dress.

The look on her stepmother and stepsister faces are priceless!!!

The King could have decided not to believe her, but he listened. Do the right thing because it is the right thing to do and not for any prize or reward. Doing the right thing is its own reward.

SECRETS REVEALED AND DESTINY

Gold Eyes magically appears as a spirit and thanks Yeh-Shen. All secrets are now revealed. He tells her now he can go. As her dreams are about to come true.

If you are meant to have it, no one can stop you from your destiny.

The truth is out, now you can deal with it.

MARRIAGE MATERIAL

Her stepmother tells her that the clothing that Gold Eyes gave Yeh-Shen belongs to her because she is her guardian.

The King says no as she is a free person. She must then step aside.

The King says, “Your friend, the mystical fish has brought you into my life for a reason.” He then steps up to the plate, wasting no more time and asks for her hand in marriage. She says yes.

The show ends by letting the audience know to visit your local library or book store. Book recommendations are provided by the Library of Congress. If you like this tale, then read Cinderella by The Brothers Grimm.

I, myself, am a huge fan of the fairy tales. I like Hans Christian Anderson and the Grimm Brothers. Particularly, the Grimm Fairy Tale Classics cartoon, but that’s another story.