Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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How To Create Life Leverage

I think that I’ve always been attracted to the prospect of increasing cashflow because of what it represents. To me, it’s always been a symbol for life leverage: the ability to increase one’s options for action. We feel alive when we are free – to feel free is at least closely related to feeling alive in the sense of feeling an excitement for living. Recall the last time you were travelling to a new country or location you’d never been to, or the thrill of meeting someone special, or finishing a story or painting of your own creation, or the simple pleasures that come with having an unexpected, free day to spend exactly how you want it, or the thoughts you had after seeing a powerfully moving film, or receiving an unexpected but welcome windfall of money. Maybe a different situation comes to mind to you. I’m guessing you may have felt thrilled and quite inspired. To be inspired, etymologically speaking, is Latin for “having the breath of God inside you.” The Greek equivalent is to have enthusiasm – from entheos, “to be in God.” “God” can refer to however you conceive a higher power or higher intelligence ordering things – whatever turns out to be above beyond the realm of mere human consciousness and human life. To create life leverage is to access more of this feeling of inspiration and enthusiasm. It is to move closer to that part of you that feels this way or is “in touch” with your own “divine spark” so to speak; the part that leads you to take – as Joe Vitale has said – “inspired action.” Imagine feeling that way all the time? Of course you’d have your ups and downs, too, but in general the more actions and options that are open to us, I think, is one of the key ingredients for how good we can feel. One of the worst feelings is to “feel stuck” in our lives – we must be in a certain place at a certain time for other people so we can please their clients and customers; or how about the feeling of having absolutely no time or space to oneself? That can really wear down your health after a while. So here are some quick thoughts on how we can better get in touch with or create more of this life leverage. (1) Have a plan. You might not have a huge global plan that you can fit over all parts of your life just yet, but I think it’s probably a good thing if you can at least have a plan running...

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What Not To Do When Writing Business Plan

London Business School professor John Mullins says now is a great time to start a business. He writes in the WSJ: Costs are lower, and more talent is available, thanks to layoffs. Prospective clients are more likely to try a new supplier who can help them cut costs or increase their competitiveness. Established players, too, are focused on cutting costs instead of increasing market share. Of course, starting a business means finding funding, and finding means writing a business plan. In his very long WSJ article, Mullins explains what not to do when writing one up. We’ve boiled it down to five bullet points: Don’t focus on your amazing technology. Focus on the customer need your business will solve. Don’t overestimate the size of an untapped market, and then claim your business will only need to capture a small slice of it. In untapped markets, the consumers don’t know they need a product yet and they don’t know how to get it. Mullins calls these the “Coke-for-Every-Kid plans.” Don’t stretch the numbers. Mullins quotes an entrepreneur who says, “With a couple of beers and an Excel spreadsheet, you can make a lot of money in no time.” Don’t try it. Don’t lead with your resume. Investors don’t care how many Harvard MBAs there are on your team. Don’t ignore the risks your business will face. Investors know all businesses have their weaknesses. Don’t be naive and try to pretend yours won’t. Excerpt from:What Not To Do When Writing Business...

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As economy worsens, fake check scams spread

To a con artist, cash is king. International scammers have developed a deviously clever way to trick people into sending them cash. The crooks mail out counterfeit checks or money orders and come up with a creative story to get their victims to wire back thousands of dollars. According to a survey released Wednesday by the Consumer Federation of America (CFA), nearly a third of all adult Americans have been approached with fake check scams and at least 1.3 million have fallen for it. “They didn’t realize the pitch and the check were both phony until they wired off the money,” says Susan Grant, CFA’s director of consumer protection. She says the average victim gets taken for between $3,000 and $4,000. Sally Greenberg, executive director of the National Consumers League, puts the yearly loss at $20 to $60 billion a year. Her group runs the Web site fakechecks.org. “These are very persuasive scams that play on people’s vulnerability,” she says. Here’s another reason so many people get burned by these counterfeit checks: They look legitimate. “They look so real your bank teller can’t always tell it’s a fake,” says Allison Southwick of the Better Business Bureau. It starts with that bogus check or money order Why did you get that unexpected check or money order for thousands of dollars? Maybe you’ve won a contest. Maybe you hit the jackpot in a lottery. Maybe it’s payment for a work-at-home job. The storylines are varied, but the con always works the same way. You need to deposit the check and wire off most of the money right away. “Once it’s wired it’s gone, gone, gone,” Greenberg says. The CFA survey pinpoints one reason why this scam is so successful. Most people (59 percent of those responding) mistakenly believe that when you deposit a check or money order, your bank confirms that it is good before letting you withdraw the money. Forty percent believed they would not be held responsible if the check or money order turned out to be counterfeit. Wrong! Many victims tell me they asked their bank if the check “cleared” before they wired the money and were told yes. Here’s the deal: When a bank says a check has cleared, it means you have access to those funds. It does not mean the check is good. If the check bounces – which could take a few days or many weeks – you are responsible to repay your bank for any of the money you withdrew. Bogus checks can be used for almost anything. All the bad guys need to do is concoct a story about why they sent...

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Robert Answers “10 Questions” on TIME.com

Watch the video interview and read the feature article in TIME Magazine as Robert answers “10 Questions” from readers.  From Conspiracy of The Rich to how to find a rich dad, Robert answers your toughest questions as only he can. Originally posted here: Robert Answers “10 Questions” on...

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Funny How Easy It Is To Make Money Online!

From : recent posts tagged robert – blip.tv (beta)http://tinyurl.com/m25v23 Please email me if you have any questions about this video or about my business. Read more here: Funny How Easy It Is To Make Money...

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Go Out and Sell Something

Veteran sales professional, Rollis Fontenot III, has released his first book “Go Out and Sell Something – The Recession-Proof Guide to a Successful Sales Career.” Available on Amazon and Createspace.com, the book comprehensively addresses a subject, according to Fontenot, that is of growing importance to sales professionals in every industry. The book also appeals to business owners and other professionals who are in charge of business development. “With the economy continuing to falter, salespeople are having to adapt to a rapidly changing business environment that isn’t always clear or understandable,” Fontenot explains. “When you consider the alarming rate of company layoffs, bankruptcies, bailouts, and restructurings, it’s understandable to feel uncertain and downright scared over what the future holds. However, there are many salespeople who actually thrive in tough times. Their secret is developing the right thinking and mental attitude that successful salespeople possess. The order of success in virtually any field of endeavor is BE-DO-HAVE. Our thinking or “BEing” helps us to take the right actions. Our “DOs” help us to receive, and our HAVEs are the results that we want. Our minds also need to be ready to receive the success that we want.” According to Kari Schneider of Alliance Recruiting, “Rollis has a unique way of not only sharpening your selling skills, but also getting you mentally prepared to receive and retain the success you’ve been looking for. His book is quick, simple to understand, and easy to implement. Rollis guides you through the slippery slopes of non-production in a recession. Basically, if you want more money – Go Out and Sell Something.” Not just for salespeople, but for any business professional experiencing stress and anxiety over this current recession, the new book is geared to help those needing clear-cut solutions for taking proactive and positive steps to increase their sales, rejuvenate their careers, and improve their overall lives. “Being in sales can be very rewarding,” states Fontenot. “In fact, one major advantage of a career in sales is that successful salespeople are the first to be hired and often the last to be let go. They are also among the highest earners in a company.” While there are countless books about sales techniques and strategies, Fontenot has taken a refreshingly different approach to the subject. He has only included the most timely and relevant concepts and compiled them into an easy-to-use guide that includes recession-proof action plans that are designed to give straightforward actionable items that deliver immediate results. “Fontenot shares his knowledge of selling in “Go Out and Sell Something along with the collective thoughts of some of the best authors in the industry such...

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Why Oil Price is going up?

Burning crude oil itself is of limited use.  To extract the maximum value from crude, it first needs to be refined into petroleum products such as gasoline, or petrol. However, there are many other products that can be obtained when a barrel of crude oil is refined.  These include liquefied petroleum gas (LPG), naphtha, kerosene, gas oil and fuel oil.   Other useful products which are not fuels can also be manufactured by refining crude oil, such as lubricants and asphalt (used in paving roads). A range of sub-items like perfumes and insecticides are also ultimately derived from crude oil. Furthermore, several of the products listed above which are derived from crude oil, such as naphtha, gasoil, LPG and ethane, can themselves be used as inputs or feedstocks in the production of petrochemicals. There are more than 4,000 different petrochemical products, but those which are considered as basic products include ethylene, propylene, butadiene, benzene, ammonia and methanol. The main groups of petrochemical end-products are plastics, synthetic fibres, synthetic rubbers, detergents and chemical fertilisers. Considering the vast number of products that are derived from it, crude oil is a very versatile substance. Life as we know it today would be extremely difficult without crude oil and its by-products. Is the economy really improving, therefore driving up consumption of oil? Tracking the share market will not give you the real answer. In fact, we know the global economy has yet to recover. U.S. Dollar Drives Oil Oil is priced in U.S. dollars. According to OPEC, the relationship between oil prices and the U.S. dollar is almost mechanical. When the U.S. dollar falls in value, oil prices have to go up in U.S. dollar terms to stay constant in euro terms. Oil producers receive their oil revenues in U.S. dollars and need to be compensated for the fluctuations of the dollar. When oil price hit too high, consumers have to spend more for gasoline, petrol and etc despite that their income didn’t go up. That’s a high price to pay. ~Aaron Loh The rest is here: Why Oil Price is going...

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Leadership: On Making Mistakes

Because we live and work in a society where making mistakes isn’t well-tolerated, it can be difficult to see any value in making mistakes. After all, mistakes often cost us time and money, and in small business both of these resources are at a premium. However, you might be surprised that some of the most prominent leaders in the world value mistakes-a lot. Take a look at what some of these leaders have to say about making mistakes. Gordon Moore, co-founder, Intel “One thing a leader does is to remove the stigma of mistakes. People who are afraid of making mistakes all the time just don’t try anything.” Sam Walton, founder, Walmart Sam Walton, famous for driving an old beat-up pickup truck to work even when his worth was in the billions, was fond of saying that if you keep expenses down you can afford to make a lot of mistakes! Robert Kiyosaki, bestselling author, “Rich Dad Poor Dad” In his book “Business School for People Who Like Helping People,” Kiyosaki recounts how he learned the process of selling: by making mistakes. In the context of sales, Kiyosaki calls it rejection. He and his sales mentor, Charlie Robinson, would make sales calls together. Robinson would say virtually nothing during the visit, but would simply watch Kiyosaki work. Then the two would return to the office and review every mistake Kiyosaki made that caused a rejection. During that time, Kiyosaki even volunteered at a charity organization, making cold calls, so he could increase his rejection rate and learn from them. The message? Make as many mistakes as you can because mistakes are how you learn. Herb Kelleher, co-founder, Southwest Airlines When one of Southwest Airline’s property managers made a mistake (he made an oral commitment of $400,000 to the City of Austin for the preliminary design of a new airport when Southwest had no intention of supporting the new airport), Herb Kelleher backed his manager with the money. Although the lesson was hugely expensive, Kelleher didn’t get upset. He just jokingly told the manager: “Now pal, this is a fairly expensive lesson. A $400,000 lesson-I hope you remember it!” Does that give you a new perspective on the value of making mistakes in your small business, and learning from them? Stephanie Valentine Here is the original: Leadership: On Making...

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Ridiculous Ideas That Made People Millions

by Katie Adams Have you ever watched an infomercial or seen an item in a department store and thought “I could have thought of that!” Have you wished you had invested money early in a blockbuster invention? Learn the stories behind some (seemingly) ridiculous ideas that have made inventors and investors very wealthy, and find out what you, as a potential investor, should look for and consider before putting up capital for a potential funding opportunity. The Koosh Ball You’ve may have never heard of Scott Stillinger but somewhere in your home or office you probably have one of his inventions – the Koosh ball, which made millions of dollars. Stillinger came up with the idea for the Koosh ball when he tied rubber bands together to create a smaller, easier-to-catch ball for his young children in 1987. He founded OddzOn Products Inc. to distribute the small, simple toy, and within just 12 months it was flying off of store shelves as that year’s hottest Christmas gift. The company expanded, and in 1994 Stillinger sold OddzOn to toy manufacturer Russ Berrie and Company Inc., which in turn was bought by toy behemoth Hasbro in 1997 for more $100 million And it all happened a mere 10 years after the first ball was created. Santa Mail Every year, millions of children around the globe pen letters to Santa and hope for a response. Byron Reese realized the potential in this market. In 2002, he launched “Santa Mail,” a service that allows kids to send letters to the North Pole. Parents enclose a small fee of just $9.95, and little Johnny or Jane receives a personalized letter back from the “big man” himself. By 2009, Santa Mail had responded to nearly 300,000 children. At close to $10 a letter, well, you can do the math – needless to say, it was a little idea that has earned Reese a big return. Lucky Break Wishbones Are you still a little bitter that, at last year’s Thanksgiving dinner, you lost out to your cousin Ned in the annual fight over the lone turkey wishbone? Well, thanks to Ken Ahroni, those days are long over. In 1999, he had something of an epiphany at his family’s Thanksgiving dinner table: a family with multiple people would like multiple wishbones. He shuttered his previous consulting business and launched Lucky Break Wishbone Corp. in 2004, in order to sell his one-of-a-kind breakable plastic wishbones. Within two years, the company was generating nearly $1 million in sales through distributors in more than 40 states nationwide. Antenna Balls You’ve seen them; maybe you even sport one on your car....

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I am just another “Poor Dad” in this world!

The RICH DAD’s apprentice help me to reveal myself, soon I realized that I am just another POOR DAD in this world. My head non-stopping thinking about it. RICH DAD – I must become rich & wealthy because I have a family & children to take care. POOR DAD – I cannot become rich & wealthy because I have a family & children to take care. So different the way of thinking. I still can remember the below from the well-known speaker told us, 1. People should do what they love to do 2. However, most people end up never do what they love to do The above 2 sentences are contradiction each others, if people know they should do what they love to do but why still end up doing something else. Why people end up never doing what they love to do? You must have a lot of excuses or reason to justify it. So do I. – Dare not take risk – People do not get what they want due to they do not know what they want in the first place. – Fear – People are complacent, do not want to get in trouble in the something new – Opportunity not there The reason that people do not end up doing what they want to do is because whatever they are doing now is just too comfortable, it is not great, not fantastic, not they really want but still go to work. Sometimes, they may even hate the job, or the company, or even hate the boss but they still go to work. It is interesting to know people spend their time & effort doing something they really do not like to do but just because they are just too comfortable, not many changes, – Comfort Zone. Don’t you think is interesting? Think about that. Definition of Word “Wealth” Big car? Big house? Possession on oneself? How much he spent? Did you realize that a lot of people have big car big house but also with big loan. Wealth Number of day forward you can survive/ maintain your lifestyle if you stop work – forever/ infinity Which mean if you don’t want to go to work tomorrow, you never ever have to worry a day about the rest of your life because somehow somewhere there will be an income/ money coming to you and you will be taken care of. Isn’t that wonderful? That’s the stage we are looking for. Financial Independent or Retirement Retirement normally happen in age of 55/60/65 years. What you can do at age of retirement? Nothing much. Will it be...

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