While reading my first book, I was thinking about a way to rate these books so that it would be easier for you to choose which review you want to read. This is why I decided to create the ReadVesting Rating. Every book that I will be reviewing here will be related to investing, personal growth and/or entrepreneurship. Therefore, I will be rating them base on these categories. I will always explain the rationale behind my rating and I will give an overall rating to the each book. Now, let's start that review.
The Book on Making Money by Steve Oliverez is 244 pages and talks about making money online. In the book, the author explains how he decided to quit his job and create his own businesses using online markets to succeed. I do appreciate the fact that the author warns people to be smart and not quit their day jobs as soon as they make a small amount of money online.
Resist the urge to go all in. ... Overleveraging is a dangerous game, and it's easy to end up cash poor.
As soon as I saw that sentence, I knew it was not a crazy book selling a dream. Mr. Oliverez talks a lot about automation and scalability. He explains that if you want to be successful, you need to find a way to work less. It seems crazy, but if you take time to analyze that advice, it makes total sense. A lot of successful businessmen in the world talk about passive income and compound interest. I see automation and scalability as synonymous to these terms. When you create passive income, you automate your income. When you invest, and therefore get the advantage of compound interest, you are scaling your wealth.
The most important things that I will remember from this book are these 3 sentences.
Stop the (financial) bleeding.
Increase your income.
Make your money work for you.
Stop the (financial) bleeding.
It's not always easy to save money, and a lot of people will tell you to save a small amount every month even if you have debt. But even if your investments earn you more money than the interest you paid on your debt, you should focus on clearing your debt. Having too much debt can affect your capacity to think adequately about your next investment.
Increase your income.
This is the best part of Oliverez's advice. Normally, a financial adviser will tell you to reduce your expenses. It is true that you will be able to save money if you spend less than what you earn. But, the author tries to promote the fact that we should stop thinking about reducing our expenses and start finding ways to increase our income. I like this way of thinking. This is, in my opinion, way more optimistic than reducing your expenses.
Make your money work for you.
Finally, you want to make your money work for you. That means "passive income". There are multiple ways to earn passive income; real estate, dividend stock, automated online commerce, affiliates marketing, etc. This book talks a lot about online passive income. It gives good advice about what to do and what not to do but, if you are not into online passive income, you will not learn a lot about other stuff.
ReadVesting Rating.
Investing
This book was not really about investing but more about how to create an online business and get passive income out of it. The author talks a little bit about investing but always stay vague. He does give good advice on how to save and he is realistic about the fact that we all come from different places and have access to different resources. For these reasons, I give a 30% rating for investing.
Entrepreneurship
The author is clearly an entrepreneur and from what I can see, has had success with his projects. He gives good advice about how to start your personal company and how to stay realistic. I also think he gives good motivational advice. He speaks mainly about e-commerce start-ups but this is because he created his own start-up in e-commerce. I give a 70% rating for entrepreneurship.
Personal Growth
Mr. Oliverez is clearly passionate about online business. He gives good advice about how to start a side hustle that can become your main income. I did enjoy reading his personal story and do think it was a good book in general. He repeats multiple time that being your own boss could give you more free time with the family and that money doesn't always bring happiness, but he also said:
Money give you choices, and more opportunities to make the right ones. It gives you both the freedom and the responsibility to pursue your own happiness.
I have to agree with this sentence. For all that, I give a 60% rate for personal growth.
ReadVesting Rate
In general, I do think this small book gives you some good advice and motivates you to take action. (I actually started this website in part because of this book.) It covers some basic concepts about investing and entrepreneurship and lets you learn about online business. For all these reasons, I give this book the rate of 7.
Use this link if you want to purchase this book : https://amzn.to/2xGCpyq