While Robert Kiyosaki is known primarily for his popular book, Rich Dad Poor Dad, he is also a profound investor and the founder of several companies. He has a total net worth is estimated at $80 million, and its teachings have already helped millions of people improve their financial literacy.
Also, he has inspired and educated millions of people the world over for many years. His goods and services teach you how to manage capital and create wealth correctly, even though you start from scratch.
While much of Kiyosaki’s advice is targeted at finance and accumulation of capital, I find some important fundamental lessons whether you’re an entrepreneur, employee, investor, or recent graduate.
1. Focus On Growing Your Income And Spirit
One of the key reasons for the financial wars is that most people are actively looking for opportunities to save money but are not trying to make any money.
While investing is definitely a smart strategy, in the long run only increased sales will have a major effect on your income. Remember, wealthy people keep no savings on their money. They all spend wisely and make their money work for them as they are busy creating even more sources of profits. For example, some people would head to a faraway supermarket to save a few bucks on grocery prices, so it wouldn’t take a couple of hours to figure out how to boost their salary.
Saving is better than creating new sources of revenue and most people prefer luxury over a lifetime of hard work. It could be easier to save money than to search for additional sales sources. To make your money work for you, though, is how you can not only save a few bucks but also create considerable wealth.
Instead of slashing your costs, take some time to ask yourself if you should create alternate sources of revenue.
Maybe you have some time to help out with a friend’s company in the evenings or on weekends? Or maybe you have some talents and expertise that you can teach others and get paid for it? Or what about completing and offering a few courses on high paying skills, such as content or copywriting, and offering them as a freelance service?
If you’re open to improvement and eager to get to work, you’ll come up with fresh moneymaking ideas and you’ll just have to say Yes to get those things done.
2. Work For Knowledge, Not Money
Young people in particular frequently get stuck in a misery cycle of working for rent. They graduate, think they know something already, and search for well-paid work. They finally find those, but quickly discover that money alone is not as rewarding as they were hoping it to be.
Not only Robert Kiyosaki, but many of our time’s most influential entrepreneurs share how free working and gaining skills and expertise was one of the most important things they did at the start of their career.
Awareness (especially applied awareness) is one of the most important and unavoidable tools of our time to create wealth and live a happier life. If you’re too focused on making money you may lose valuable opportunities because you’re not even going to see them.
Money still leads to the right choices and experience, not the other way around. Take the time to learn from people who are ahead of you to improve your chances of (financial) success. Help them on their way, even though it’s voluntary because they will have a legitimate excuse to help you afterward.
Nothing is more important than having access to someone’s head that is living the perfect life. Take your cell, contact people, and still pursue chances to help others.
3. Follow One Course Until Success
The bright icon phenomenon in our modern culture is one of the key reasons that so many people end up unfulfilled. They are always seeing new possibilities and obstacles, relying on them, but soon losing hope when they know something much bigger is there.
When Kiyosaki started saving, he made several mistakes over and over again, but he did not give up until he eventually grasped the fundamentals and succeeded.
The first attempt hardly produces wonderful stuff and respectable performances. Many people give up way too early and thus never witness any major successes. The trick to success is often to bit through and stick with a particular issue instead of continuing with new things every few months.
4. Don’t Be Afraid Of Losses
We’re taught in school to make mistakes. Although missing the right responses, errors are at a persistent hot spot. Fear of disappointment is one of the biggest reasons most people don’t excel in life and industry, according to Kiyosaki. When at school it is important to make mistakes, real life is a different matter. You won’t learn something new without committing mistakes. Many successful entrepreneurs made errors and suffered many defeats before ultimately they succeeded.
“We call a person ‘smart’ if he/she carries the guts to make a mistake and learn from it. In Schools, we call a person ‘smart’ if he/she doesn’t make any mistakes.”
If you are terrified of losing, it’s going to be hard to win. But if you don’t care about defeat and just keep on with perseverance and wise decisions, you won’t have to risk much.
5. Find A Game Where You Can Win
In business (and in life) most people lose when they rely on the wrong tasks and goals. It is so much harder to excel with something you don’t like (and aren’t successful at) than to play a game where you can add your abilities.
There is no use in imposing success on something in the talent field. Of course, you will learn more but it takes far more time and resources to focus on your flaws than to concentrate on your strengths.
Often, in order to concentrate on something that is not only enticing but also thrilling to the mind, you have to trade the good for the better and let go of wrong aspirations. Not only is it simpler but it is much more fun to do something that you’re good at.
6. Don’t Rely On Formal Education
Real-life is so much different from what we study at schools and colleges, and especially real business. If you focus on formal schooling, you may get a career, but you can only make a fortune and create prosperous companies through self-education.
While schools educate you to prevent failure, after several failures, most of the great companies were created. Even Dejan Stojanovic considers himself a failure enthusiast.
He built a group of people a few years back, who are not afraid of failures but still inspire each other to proceed. All these people he got together and shattered the stigma by not caring about mistakes.
Rather, he urged people from diverse cultures to share their fucked ups, so the world could benefit from each other. Currently, he has begun The Loss Talks, a series of conversations with accomplished executives and leaders who not only talk about success but also about market downsides.
Looking closer you will see how successful entrepreneurs are hardly relying on formal education. But the good news is we have more knowledge at our fingertips than ever before. So teaching yourself is not only easy but free if you take the time to learn from multiple outlets.
7. Be Careful About How You Spend Your Time
Wealthy people as well as successful entrepreneurs both know their time is one of their most precious resources. They spend money to fix problems, instead of wasting time. Yet most people waste hours overcoming small problems and wasting their resources because it’s cheaper than paying for professional assistance.
You can find yourself in the wrong ways if you waste your time doing the wrong things. However, if you prioritize your time and energy, then you will only do meaningful and effective activities. That will help you accomplish your ultimate goals even faster, in exchange.
8. Never Hope For Something
Robert Kiyosaki says optimism consumes steam. But behavior generates steam. Instead of seeing it work, so many people waste their time wishing and waiting for something to work. They have thoughts, expectations, and aspirations but there are no plans for action.
And, without implementation, even the strongest plan isn’t worth much. Although wishing for anything and not achieving it will destroy your hope and resources, taking huge, committed action and following the rule of attraction will help you attain your objectives. Manifestation is true, the rule of attraction is true, your butt off is real, so it’s just not waiting for anything.
9. The Best Knowledge Results From Personal Experience
Personal experience is the best investment that you can make according to Kiyosaki. He claims we benefit more about our own experiences and reveals frankly how he made bad choices, went into debt, and was blamed for his behavior.
Of course, making bad choices simply to see whether they’re actually wrong or not makes no sense. Whenever possible it is definitely a smart thing to prevent apparent pitfalls when reaching out to mentors or coaches. However, if you’re not sure whether a decision is right or not, deciding on the process yourself will contribute to the plurality of experiences and lessons that you may not be able to understand.
By investing in your insights and skills (e.g. through training classes, seminars, retreats, new alliances, etc.), you can learn to identify all challenges and benefits and to make smarter choices in the future.
Much like the rest of other life and business tips, Robert Kiyosaki’s lessons are something we should absorb and not profound. You’ve already heard most of these numerous times, but the question is whether you’re following them or not.
The most priceless advice worthless without implementation and execution. However, if you follow one piece of advice at a time, you can quickly learn how these small steps snowball and contribute to your life, career, and bank account statements.
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