Episode Overview
Podcast: The $100 MBA Show
Host: Omar Zenhom
Episode: MBA2698 – Must Read: The Science of Getting Rich by Wallace D. Wattles
Date: November 3, 2025
In this episode, Omar Zenhom spotlights the classic business book The Science of Getting Rich by Wallace D. Wattles. He breaks down why, more than a century after its publication, this short but influential work remains relevant and actionable for today’s entrepreneurs. Omar distills Wattles’ core philosophy: wealth is not about luck or competition, but about doing things “in a certain way”—with a mindset rooted in creativity, gratitude, and clear action.
Key Discussion Points & Insights
1. Book Context & Enduring Relevance
- The Science of Getting Rich has influenced major figures in modern business and self-help (e.g., Napoleon Hill, Tony Robbins). (01:05)
- Omar: “Why is this book still worth reading more than a century later? Because it lays out the mindset and the method of wealth in a way that’s timeless, in my opinion.” (01:35)
- The book is praised for its simplicity and practical, direct approach.
2. The Core Message: Creating vs. Competing
- Wealth comes from doing things “in a certain way,” repeatedly emphasized in the book.
- Key concept: Build wealth by creating new value, not by fighting for limited resources.
- Omar (with Apple example): “Apple made more pie. This was radical back in 1910, and honestly, it’s still radical today.” (03:40)
- Most people remain in a scarcity mindset, which holds them back.
3. The Three Pillars from Wattles
a. Gratitude as Daily Practice (08:22)
- Practicing gratitude maintains an abundance mindset.
- Omar: “Gratitude keeps you creative and in an abundant state of mind because you’re tuned into abundance and not scarcity.” (09:00)
- Omar recommends listing three things you're grateful for each day to start with an abundance mindset.
b. Clarity of Vision (13:16)
- A “clear vision” of what you want is essential; vague wishes don’t translate into results.
- Vision boards and specific goal-setting help signal to your brain what to pursue.
- Anecdote about friend Dale Beaumont, who accomplished everything on his vision board, only to later realize he should have aimed higher.
- Omar: “If you accomplished everything [on your vision board], you should have been more ambitious.” (14:56)
- Omar shares how he and Nicole list out their “rich life” essentials to add specificity and measure the real cost of their aspirations.
c. Action (“Act in the Certain Way”) (17:36)
- Visualization alone isn’t enough; you must consistently act as if your vision is already unfolding.
- Omar: “You can’t just visualize. You need to act every day effectively... Implementing ‘act as if you are successful’ is the formula that Wattles lays out.” (17:54)
- Change daily behaviors to match those of your desired future self.
- “Whatever you’re doing right now is getting you the results you’re getting; if you want different results, you’ve got to change what you’re doing.” (18:40)
Applying Wattles in 2025 Business & Life
1. Creative vs. Competitive Business Approach (19:05)
- Don’t obsess over competitors; focus on creating unique value and expanding the market.
- Restaurant analogy: Top restaurants stand out by excelling with the same basic ingredients—through better service, presentation, or atmosphere.
2. Gratitude in Business
- Gratitude extends to customers and team.
- Businesses that show genuine appreciation foster loyalty and retain both clients and team talent.
- Omar: “You are incredibly lucky that you have something people want and you get to serve people that appreciate what you have.” (21:20)
3. Vision Clarity for Business Growth
- Set specific, quantifiable goals (e.g., reaching $20k MRR by a deadline) and map out actionable steps.
- Reverse-engineer the required actions from your goal.
4. Faith and Committed Action
- In business, faith means commitment to the process and continual action, not wishful thinking.
- Omar: “You hold the vision you have and keep taking intelligent action... calculated risks to improve your business.” (23:40)
- Pivot, improve, and learn from failure; persistence is key.
Notable Quotes & Memorable Moments
- “Instead of you trying to grab your slice of the pie, you create more pie.” (03:25)
- “We live a better life than kings and emperors 500 years ago—this was generated, this was created over time.” (05:30)
- “Vision boards... the funny thing is that his reaction was not, wow, these vision boards are powerful. His reaction was, I didn’t shoot high enough.” (14:56)
- “You must change what you do every day to get different results.” (18:40)
- “You can’t fake caring... when you have gratitude, you appreciate your customers, you naturally care for them.” (20:40)
- “Wattles was right: you don’t get rich by fighting for scraps, you get rich by creating new value in the world.” (25:28)
Why Read The Science of Getting Rich?
- Short and direct—easy to read in a weekend (26:10)
- Foundational thinking: many modern business ideas stem from this book.
- Mindset reset: Poverty isn’t noble; wealth is created by giving and creating, not hoarding.
- Action-oriented: Clear, timeless call to create, serve, and act.
Omar’s Recommendation:
Read this book with your business in mind. Ask yourself: “Where am I competing, and where am I creating?” (27:36)
He suggests revisiting books like this several times a year to maintain focus and motivation.
Episode Timeline (Selected)
- 01:05 – Historical context and continuing influence of The Science of Getting Rich
- 03:25 – 05:30 – Core concepts: “doing things in a certain way,” abundance, and value creation (Apple example)
- 08:22 – The role of gratitude in wealth creation
- 13:16 – The power of a clear vision and anecdote about vision boards
- 17:36 – Importance of actionable daily habits
- 19:05 – Applying creative vs. competitive thinking in business (restaurant analogy)
- 21:20 – Implementing gratitude in company culture
- 23:40 – Developing faith in action and persistent improvement
- 26:10 – Omar’s pitch for reading the book, its brevity, and key takeaways
Final Take
Omar wraps up by encouraging listeners to infuse their year with short, potent books like The Science of Getting Rich to spark actionable shifts in mindset and keep focused on creating real value—personally and in business.