Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Why Recognizing Feedback Is Critical To Success

Robert just submitted an article to Entrepreneur.com that captures, in a concise, easy-to-digest fashion, the importance of recognizing, hearing, and acting on feedback. When building a business, one of the KILLERS that often results in a failed business, is the inability of the leader to accept feedback. Remember the quote from rich dad? “If you are the smartest person on your team, then your team is in trouble.” It is this attitude that causes so many businesses to flounder and ultimately end up in the toilet. Each of us is receiving feedback every minute of every day. Winners know how to recognize and act on that feedback. Seif View original post here: Why Recognizing Feedback Is Critical To...

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Even Steven

 ~ Robert Kiyosaki As a Marine Corps pilot in Vietnam, I was acutely aware of the balance between supply and demand. Stationed on an aircraft carrier, we had to order supplies from warehouses on land. It was frustrating to regularly receive aircraft parts for the wrong model of aircraft. My commanding officer wasn’t interested in my problems with the supply chain; all he wanted was for my gunships to be ready when he needed them. Because the Army had a large supply of parts in its aircraft graveyard, we often kept our fleet flying by borrowing parts from the Army. Although this didn’t follow Marine Corps directives, we kept our aircraft in the air with or without parts from our own supply chain. One very important job of an entrepreneur is to coordinate the forces of supply and demand in his or her business. If there’s too much supply, or inventory, the business suffers. If there’s too much demand and not enough supply, the business also suffers because the customers aren’t being supplied with what they want and may go to a competitor. If there’s no demand or supply, the business will soon be out of business. Think of demand as sales and marketing. It’s your sales and marketing department’s job to create demand by making sure your customers know and buy what your business has to offer. Meanwhile, supply is represented by manufacturing, warehousing and distribution, aka the supply chain. It’s your supply chain’s job to be prepared to fulfill the demand created by the sales side. In my businesses, I divide my responsibilities between supply and demand. As a business grows, I appoint one person to be solely in charge of demand and another person solely supply. This reduces a lot of the finger-pointing, buck-passing and shoulder shrugging that happens when supply and demand aren’t in harmony. If there’s too much supply (inventory) and not enough demand (sales), both sides come to the table to discuss it. The beauty of including both sides is that everyone realizes it is one business. Problems have a better chance of being resolved when each side understands the other and realizes they share the same goals. In Vietnam, I never had the opportunity to meet face to face with the clerk who shipped the wrong parts and explain how important his job was not only to the aircrew, but also to the troops on the ground. My experience with supply and demand in Vietnam has made me a better entrepreneur today. And every business can benefit from aligning these two critical components. Go here to see the original: Even...

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?Rich Dad Poor Dad? co-authors settle lawsuit

Sept. 3, 2008 The Arizona Republic The Valley co-authors of the popular Rich Dad Poor Dad financial series officially are going their separate ways. Robert Kiyosaki, the corporate face behind the books, on Wednesday paid an undisclosed sum to settle a lawsuit with Sharon Lechter, who had sued her former partner and his wife. Financial terms were not disclosed and Lechter has sold all of her interests in the Rich Dad Co. to the Kiyosakis. “This settlement allows us to focus on growing the company well beyond where it is today,” Robert Kiyosaki said in a statement. “The Rich Dad team is dedicated to bringing financial education to people throughout the world.” Lechter, who was attending the Republican National Convention in St. Paul, Minn., said she was looking forward to writing about financial literacy for families and children on her own. “I am very pleased with the settlement,” Lechter said. “The last 10 to 11 years were a great time of building a company, and I wish all of us great success in the future.” Lechter had alleged the Kiyosakis had enriched themselves, diverted assets and wasted money in a business that she claimed to have helped build from scratch. Lechter also had claimed she “often rewrote large sections” of books she and Robert Kiyosaki co-authored. The Kiyosakis denied the allegations and said if Lechter has been “damaged,” it was caused by her own actions. Success from the original book catapulted their joint venture, commonly known as the Rich Dad Co., into a multimillion-dollar operation with offices in Scottsdale. The company, founded in 1997, now offers more than 25 financial books that have been translated into 51 different languages in more than 107 countries. The key objective is to achieve wealth. Lechter, a certified public accountant who lives in Paradise Valley, had wanted a judge to dissolve the joint venture, appoint a receiver and have the Kiyosakis pay compensatory and punitive damages. She left the company last year and legal fighting followed in Clark County District Court in Nevada, where the company is headquartered. A trial was scheduled for Dec. 29. “It’s good to have it behind us,” Kim Kiyosaki, Robert’s spouse and company co-founder, said in a phone interview. “It truly has gotten our company more focused in what we want to do. There has been some good to come out of it, given all the negativity and angst in a lawsuit.” View original here: ?Rich Dad Poor Dad? co-authors settle...

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True Flexibility… Literally

Talk about context before content… Check this out. More here: True Flexibility…...

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Generating passive income

Economics is about how you realise your dreams and achieve financial freedom. Can you get up in the morning, decide not to go for work and yet generate income? One of my friends in his thirties has already retired from active employment. He travels around Canada, educates teenagers on how to live life, enjoys his time on the beaches and leads a rich life-style. You can do so too, if you can generate what economists call “passive income”. What is it? Passive income is income generated without you sweating for it! If you invest wisely in stocks or mutual funds, you can expect to generate income periodically. Income from Internet-related businesses is passive. Writing books and receiving royalty is another example of such income. Why should you generate passive income? If you want to improve your life-style, you need to generate more income. This would mean asking your boss for a raise, which you are unlikely to get. The alternative is to look for other ways of generating income. With a full-time job, you will have to generate such income without spending much time on it. Setting up streams of passive income is the most effective way to improve life-style. Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad advocates buying house properties and generating positive cash flows. That is, the rent that you earn from the property should be more than the mortgage and other expenses that incur on the property every year. You should have three-four different streams of income other than your salary. That way, you can achieve your financial freedom faster — just as my friend did at a young age of 35. B. Venkatesh (The author is a Chennai-based financial analyst.) More here: Generating passive...

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This Time It Is For Real

Remember the Apprentice Challenge? That was over two years ago, when I was still working at the Rich Dad headquarters in Scottsdale, AZ. You heard me right, I no longer work at the Rich Dad headquarters. As of 31 July, I am officially on my own, building my own business. I still do some work for Rich Dad, but remotely, as a consultant. I’ve also moved myself and my family about 120 miles north of Scottsdale to Flagstaff, AZ. It has been our dream to move here for 3-4 years now (ask anyone at Rich Dad and they’ll tell you how I’ve talked their ears off about this for a long time). I want to be up front about how this all came about. For the past six years I’ve managed the online presence (IT, web, RD Underground, etc) as well as the home office network for the Rich Dad Company. During that time I’ve received what I consider to be the most valuable education anyone could ever receive. However, there was something I was missing. Sure, I could do the IT work and was extremely successful at building and fine tuning the systems, but there was a problem. IT was not my passion. As most of you know, I love making videos. Especially behind the scenes, fly on the wall-type videos of stuff no one else gets to see. So, I decided to move out of IT and into media production. Well, my skill level and experience did not allow me to do that full time at Rich Dad. Therefore, the decision was made for me to move on, and do things on my own. This is what I am calling ‘The REAL Apprentice Challenge.’ Robert and Kim were incredibly supportive and encouraging. It was not easy to leave the folks at Rich Dad that I had come to think of as my family. However, I believe it was the best thing for me and the best thing for the company. We both needed to grow beyond our current context. So, here is the deal. I have teamed up with a friend of mine who is an incredible entrepreneur, online marketing expert and teacher. He and I are going to be building a team of people dedicated to getting financial education into the hands of the people that are ready to learn. If you’ve subscribed to this blog, then you will receive a separate email explaining the whole thing. In the mean time, I am going to keep you all posted on my progress. Hopefully via video, like the first apprentice challenge. The only difference is, this one...

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Robert Kiyosaki: How to Make Money?

This is a video clip on Rich Dad Poor Dad – How to Make Money? by Robert Kiyosaki which I think is good and useful for both entrepreneurs and wannabe entrepreneurs. Robert Kiyosaki: Rich Dad Poor Dad talk on “How to Make Money?” Broke is Temporary and Poor is Eternal.  Don’t work for money but let money work for you. Which one are you? Read the original here: Robert Kiyosaki: How to Make...

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Disclipline pays off

What I see today is that this Silver future contract what I plan to buy is today worth about 2 USD less than yesterday… and it basically means that if I had bought it yesterday (14th of August, as I have already 15th of August and now is 9:43 in the morning) I would have got today a new margin call… But I didn’t 🙂 SLV finished yesterday at price 14.06 USD… silver futures prices show me that silver will go to 12.5 or near today as September 2008 futures contract shows price 12.525 USD per ounce. My focus from investement side is definetely Silver, so keep on commenting what my real life actions and result are. But my day-to-day activity is building up a Rich Dad’s Franchise in Baltics. Read more from the original source: Disclipline pays...

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Keeping fingers away from Investment account

One of the reasons why I write this thing here now, is to keep me accountable and help me have some discipline 🙂 So what’s the problem? The problem is that I got margin call when Silver was somewhere around 14.44 USD. Now in couple of last days it has gone up to 14.86… So I decided not use anymore strategy called buy and pray or wait and lose :-p But in the back of my head my Little Voice is still telling “Jump in” or “Get an new position, because otherwise you will miss out the opportunity.” etc. So I decided that my strategy is: Buy when Silver price goes over 14-day moving average. And where I look this information is http://www.lbma.org.uk/ and based on that create my own graph. Sell when Silver price goes under 14-day moving average. And I will change the strategy after Silver price will go over 200-day moving average.In this point the strategy will be: Buy when Silver price goes over 200-day moving average. (This last happened 9/20/2007) Sell when Silver price goes under 200-day moving average. (This last happened 8/5/2008) So in the end I will not have many buying/selling going on… and for selling probably I can put a Stop in place. I now found out how I could do that… I just need to try it out, how it works in real environment. Last thing: I will continue with futures. The main thing why I like the futures is that gain or loss is accounted every day. So I can’t hide myself somewhere and “decide” in some point that now I’m going to be a long-term investor, when my actual idea was to be a short term speculator.The second point is that when things will go as planned and I create some money out of this strategy I can start removing the money from investing account and move it into other deals. Original post: Keeping fingers away from Investment...

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Creating a new Strategy for benefiting Silver futures

Yesterday I wrote “I got a Margin Call on Silver Future position“ This is not End of Game situation for me. The good thing is that I have taken into account Robert’s Big Idea that it’s useful to move from ‘E’ or ‘S’ to ‘B’ first and then to ‘I’. In this point I’m talking about CASHFLOW Quadrant. The ones who don’t know it yet, I will give the meaning of letters… To understand it better get a book called CASHFLOW Quadrant from Robert T. Kiyosaki and read it. So I’m at the moment for various reasons in all of four quadrants. In ‘E’ I’m just for one reason – my company hired me with minimum possible salary so I get to go to the doctors for free, at least that’s the idea. It works with the family doctor but not with specialists as these guys have long waiting lists but it’s possible to pay yourself and get the help needed same or next day 🙂 I’m mainly in ‘S’ right now. And focusing of building up the Rich Dad Franchise here in Estonia, Latvia and Lithuania. And I have some things going on I would call ‘B’ , at least from idea side. I have put up some IT systems where I collect monthly service fee, but as nothing happens mostly – it means these things work without me, then I don’t have spend time other than writing Invoice once a month.OK, in some rare case I have to act really fast and fix or update something. And the ‘I’ is left. Here I’m with my learning how to invest… trying out things… like this Silver Future contract. Now I know from my experience what is Margin Call 🙂 So the good thing is that nothing bad happens with me after this last deal… I still have money for living expenses and food and all that… so I will put some money which comes in every month to my investment account and jump in again 🙂 This time being smarter again… and it’s all pre-tax money. Now I will take into account more also market movements with my new strategy. Probably get burned again, but will learn faster and more 🙂 Read the original: Creating a new Strategy for benefiting Silver...

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