Learn

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To be successful, you need to learn to overcome your fear of being rejected and to stop worrying about what other people say and think about you.

To be successful you must learn to lead people. The ability to get along with and inspire people is a priceless skill, a skill that can be learned.

Have a strong mentor program. You want to learn from leaders, not advisors. You want to learn from people who are already leaders, who are on the right side, and who want you to succeed.

Robert T. Kiyosaki

System of Systems

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Almost daily, people come to me with business plans with the hope of raising money for their idea or their project.

Most of the time I turn them down for one main reason: the people raising the money don’t know the difference between a product and a system.
For a business to survive and thrive, 100 percent of all the systems must be functioning and accountable. For example, an airplane is a system of systems. If it takes off and, let’s say, the fuel system fails, there often is a crash. The human body is also a system of systems. Most of us have had a loved one die because one of the body systems failed. The same happens in business.

Robert T. Kiyosaki

 

Product and System

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Almost daily, people come to me with business plans with the hope of raising money for their idea or their project.

Most of the time I turn them down for one main reason: the people raising the money don’t know the difference between a product and a system.

For a business to survive and thrive, 100 percent of all systems must be functioning and accountable. For example, an airplane is a system of systems. It it takes off and, let’s say, the fuel system fails, there often is a crash. The human body is also a system of systems. Most of us have had a loved one die because one of the body systems failed. The same thing happens in business.

Mentor

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A mentor is someone who has already done what you want to do and is successful at doing it. Don’t find an advisor. An advisor is someone who tells you how to do it but may not have personally done it.

My rich dad taught me about systems and how to be a leader of people, not a manager of people. Managers often see their subordinates as inferiors. Leaders must direct people who are often smarter.

 

Robert T. Kiyosaki

Be Prepared for Changes

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In times of great economic change, there are always great transfers of wealth. Even if you don’t have much money, it’s important to invest in your education because, when the changes come, you’ll be better prepared to handle them. Don’t be caught unaware and afraid. As I said, no one can predict what will happen, so it’s best to be prepared for whatever happens. And that means getting educated now.

A big secret is that true investors make more money in bad markets. They make more money because the non-investors are panicking and selling when they should be buying. I’m not afraid of the possible coming economic changes, because change means wealth if being transferred.

Robert T. Kiyosaki

Be Financially Responsible for Yourself

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Literacy in the information age diagram

Literacy in the information age diagram (Photo credit: Wikipedia)

As we move from defined-benefit pension plans (or what I call Industrial-Age retirement plans) to defined-contribution pension plan (or Information-Age pension plans), the result is that you, as an individual, must now be financially responsible for yourself. 

“Defined contribution” means that you only get back what you and the company have contributed while you were working. In other words, your pension is defined solely by what has been contributed.

The good news is that, in the Information Age, life expectancy has increased. The bad news is that you might outlive your pension (if you even have one).

Today we all need to be concerned with more that just job security. I think we must also focus on our long-term financial security and not leave that responsibility to a company or the government. 

Today, we all need to become wiser investors, always aware of the ups and downs of the financial market. I recommend learning to be an investor rather than giving your money to somebody else to invest for you. 

Robert T. Kiyosaki

Wealth

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Native home with Yapese money stones indicatin...

Native home with Yapese money stones indicating great wealth. Stones were mined on Palau and carried by outrigger canoe 300 miles. Money stones are quarried from stalactites in limestone caves (Photo credit: Wikipedia)

The definition of wealth is the number of days you can survive without physically working (or anyone else in your household physically working) and still maintain your standard of living.

For example, if your monthly expenses are $5,000 a month and you have $20,000 in savings, your wealth is approximately four month or 120 days. Wealth is measured in time, not dollars.

Ultimately, it’s not how much money you make that matters, but how much money you keep, and how long that money works for you. Every day I meet many people who make a lot of money, but all of their money goes out the expense columns.

Every time they make a little more money, they go shopping. They often buy a bigger house or a new car which result in long-term debt and more hard work. Nothing is left to go into the asset column.

Many people, rich and poor, operate constantly at the financial red line of their personal finances

The trouble with operating your car’s engine at red line is that the life expectancy of the engine is shortened. The same is true with operating your finances at the red line.

Robert T. Kiyosaki

 

Change at the Core

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English: Shot at the Minnesota Zoo’s Butterfly Exhibit. Image of the Dryadula phaetusa Butterfly atop a Purple Coneflower. 135mm (3.8x) effective focal length. Copyright © 2005 by April King, aka Marumari, donated to Wikipedia under the GFDL. (Photo credit: Wikipedia)

Changing quadrants isn’t like changing jobs or changing professions. Changing quadrants is often a change at the core of who you are – how you think and how you look at the world. The change is easier for some people than for others simply because some people welcome change and others fight it. And changing quadrants is most often a life-changing experience. It’s a change as profound as the age-old story of the caterpillar becoming a butterfly. Non only will you change, but so will your friends. While you’ll still be friends with your old friends, it’s just harder for caterpillars to do the same things butterflies do. So the changes are big changes, and not too many people choose to make them.

Robert T. Kiyosaki

The Diet

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When a person goes on a diet-and-excercise program, they are only working on their mind and their body. Without emotional development and spiritual strength, the overweight person may go on a diet for six month and lose a ton of weight, only to put even more weight back on later.

The same is true for changing quadrants.

If you feel you are not in the right quadrant for you, or you are not on your life’s path, I encourage you to search your heart and find your path in life.

Robert T. Kiyosaki