Business Ideas - 3 Lessons from Robert Kiyosaki

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My name is Evan Carmichael and I believe that the fastest and most effective way to build a business is to model the strategies of people who have already done what you're trying to do. I call it Modeling the Masters.

Today we're going to look at how a Vietnam veteran failed with two separate businesses but was determined to become a successful entrepreneur and not have to work for someone else. He would eventually become one of the most successful business writers of all time. This is the story of Rich Dad Poor Dad creator Robert Kiyosaki and the top 3 lessons that you can learn from his success.

"The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way." - Robert Kiyosaki

Robert Kiyosaki (born April 8, 1947) is an American investor, businessman, self-help author, motivational speaker, and financial literacy activist best known for his "Rich Dad Poor Dad" book series. After serving in the Marine Corps as a helicopter gunship pilot during the Vietnam War, Kiyosaki returned home to work as a salesman for Xerox. Not wanting to work for someone else for the rest of his life, Kiyosaki had dreams of starting his own business.

After unsuccessful stints selling Velcro wallets and T-shirts for heavy metal rock bands, Kiyosaki began promoting the personal growth seminars of Marshall Thurber called "Money & You." When Thurber decided to retire, Kiyosaki took over the business and began traveling the world to educate people about financial strategies. To reach more people he decided to write his first book which he self-published, "Rich Dad Poor Dad."

Robert Kiyosaki has written over 15 books and has sold over 26 million copies. 3 of his books have been on the best sellers lists of The Wall Street Journal, USA Today, and the New York Times simultaneously and he's a sought after speaker who continues to educate people on how to understand their money.

Action Item #1: Make Your Money Work Hard
Action Item #2: Mind Your Own Business
Action Item #3: Work to Learn, Not for Money

True Story

There was once a friend of Kiyosaki's whose 16 year old son desperately wanted a new car. His friends had all been given one by their parents, and now this son expected nothing less. But, it was not going to be that easy for the boy. His father had played Kiyosaki's CASHFLOW board game and he wanted to teach his son a lesson in financial management. The father gave his son $3,000 but forbade him from using it to buy a car just yet. At the same time, he gave his son a subscription to the Wall Street Journal. The father told his son that only once he had earned an additional $6,000 from investments could he then use $3,000 to buy a car. The rest of the money would of course go into his college fund. "My friend said it was the best $3,000 he ever spent," says Kiyosaki. "Not only had his son gained a new respect for the power of money, he also learned to spend money wisely instead of letting money burn holes in his pockets."

More Quotes

"Don't work for money; make it work for you."

"Remember, your mind is your greatest asset, so be careful what you put into it."

" If you want to go somewhere, it is best to find someone who has already been there."

What Do You Think?

Did you bootstrap your business? Do you understand the numbers that run your company? What part of Robert Kiyosaki's message impacted you the most? As always, I'd love to hear your thoughts if you leave a comment below!

Evan Carmichael

To learn more check out my list of Robert Kiyosaki articles at http://www.evancarmichael.com/Famous-Entrepreneurs/1081/summary.php or my website, http://www.EvanCarmichael.com.

Category:

Education

Tags:

• Robert Kiyosaki
• Business Marketing Idea

[ModelingTheMasters]

@Garrieism Great to hear - thanks for commenting!

[ModelingTheMasters]

@hoseofgenies Thanks - glad you liked it!

[Garrieism]

Very instructive....thanks for sharing

[hoseofgenies]

good Robert's story, thanks Evan