- Business and Employment
10 Ways Robert Kiyosaki Shows You How To Get Rich
Born on April 8, 1947, on Hilo, Hawaii, Robert Kiyosaki was off to a good start. Heck, he was already in Hawaii, so what else do you need? He was raised by a loving mother and father, which instilled a business like “how to get rich” attitude and hunger in him at a very early age. Instead of playing ball in the yard or chasing after girls around town, he was chasing after the “American Dream” in becoming a successful businessman. After school, on the weekends and even during summer breaks, Robert Kiyosaki would study finance and business lessons from his father. In his book, “Rich Dad Poor Dad”, he even stated that his father used the game Monopoly as a real estate example.
ROBERT KIYOSAKI IS AN AMAZING MOTIVATOR
By 1965, he had finished highschool and joined the U.S. Marine Academy in New York. He had a quick stint with Standard Oil company, then was called upon to lead in the Vietnam War. As 1977 rolled around, Robert Kiyosaki now had the knowledge, experience and appetite to find the answer(s) on how to get rich. He launched his entrepreneur career, which sold Velcro wallets that were waterproof. The target market: surfer dudes. Unfortunately, his business coaching only took the company so far and it went bankrupt after a few good years of revenues.
In 1980, his rock ‘n’ roll retail business went bankrupt as well. His entrepreneur frame of mind did not slow him down… he went on to create & cultivate a business that assisted in the education of entrepreneurs. Essentially, (and rightfully so) Robert Kiyosaki was the lead business coach, trying to educate business leaders, entrepreneurs and anyone that wanted to find the holy grail of how to get rich. This endeavor was very successful, which allowed him to retire by 1994, where he was the ripe old age of 47. His post-retirement frame of work is how his popularity really grew. He wrote the book “Rich Dad Poor Dad”, which outlined and stressed investing in stocks & bonds as well as real estate. Of course, he mentions that starting and owning your very own business is the heart of one’s investment’s, leading to the mystical “pot of gold”, giving us the answers on how to get rich. Robert Kiyosaki, the business coach that he is, also exclaimed the importance of self improvement as we all embark on our own business journeys.
HIS BOOK “RICH DAD POOR DAD” REALLY MADE WAVES
So, what can the “Godfather” of network marketing teach us about ourselves, our businesses and the way we treat other people? Here are 10 Ways Robert Kiyosaki shows you how to get rich:
- : He probably thought this book was going to be a best seller, but I don’t think he ever thought that this would be a guideline for entrepreneur coaching, any business coach, or flat out anyone involved with business, in general. If you have not read this, please do immediately! Rich Dad Poor Dad
- The Difference between Assets & Liabilities: Much like financial guru, Dave Ramsey, you will hear Robert Kiyosaki speak about what we call “assets”, really aren’t assets. The house you “own”, well, you don’t own it. The bank owns it. Thus, this is a liability, because you still have to pay for it. Conversely, if you own real estate—outright, with no mortgage—this is now an asset, which generates money for you.
- His quote: Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success. If you are trying to find the various ways of how to get rich, you need to know that you are going to fail. It’s your choice to get back up and keep moving.
- Robert Kiyosaki and his first investment property. He purchased a 1 bed, 1 bath condo in Lahaina, Maui for $18,000.00 US Dollars. He worked a deal in which the seller would owner-finance the property while he paid for the down payment on his credit card. He ended up netting $25.00 a month with this property and he later parlayed this into two (2) additional condo’s (also purchased on a credit card). He then flipped these around and sold two(2) of them for a total of $70,000.00. He made $17,000.00 on the deal and ended up selling the third condo for $375,000.00 in the late 1980’s. Not too shabby for a business coach from Hawaii, right?
- The Robert Kiyosaki quote: A lot of people are afraid to tell the truth, to say no. That’s where toughness comes into play. Toughness is not being a bully. It’s having backbone. This is one that a lot of entrepreneur’s love. It’s true, sometimes it can be extremely difficult to stiffen your back and tell someone “no”, or to change their ways. But, sometimes it is the best—and only—thing you can do. Hey we are all trying to find the solution on how to get rich, so in order to work together, sometimes it takes a little tough love.
- He says it best here: 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. I do not care what you are doing…if it’s network marketing, business coaching, or you’re just trying to climb the corporate ladder, but if you don’t have the desire to get better and succeed, you will never get there. There will be some bumps along the way, but again, you’re going to have to face those problems and work to find a solution.
- Roberty Kiyosaki had a vision and capitalized on an opportunity. After the mortgage crisis hit the economy—and hit it hard—he used his capital and invested in a large amount of distressed property. It consisted of approximately 40% of his portfolio by 2015. These properties included a 300 unit apartment complex in Tulsa, Oklahoma, along with an unreal golf resort (which has 5 courses) in Arizona and another 1600 unit apartment complex. He earns $250,000.00 in monthly cash flow from his apartments alone!
- Another Robert Kiyosaki nugget: When people are lame, they love to blame. Bottom line: don’t surround yourself with negative people. They will suck the life right out of you. Don’t let them take your time and your resources—you need positive people around you all the time. Aren’t we all trying to find the best ways of how to get rich?
ROBERT KIYOSAKI HAS FIGURED OUT HOW TO GET RICH
- His love—and knowledge—of gold. Ever since he was a young boy, he started loving gold and silver coins. He invested in them early, collecting as many as he could. In July of 2005, he wrote an article in Yahoo Financethat you should invest in gold if you want to invest in anything. Now look at where the price of gold has escalated since then.
- Robert Kiyosaki can tell you all that you want to know on how to get rich. You do this through the three(3) types of incomes:
- Earned Income: traditional job and salary
- Portfolio Income: investments such as stocks, bonds and mutual funds
- Passive Income: continued income, over and over, without working. This is the real estate income, stock dividends and network marketing businesses where you can earn a residual income.
As you can see, Robert Kiyosaki is an extremely smart and driven business man. He had his fair share of business coaching at an early age, but he also taught himself never to give up and that quitting is NEVER an option. We all want to know the best, easiest ways of how to get rich, but it’s the passion and the will to succeed that really takes ordinary business people into the residual income entrepreneur’s, living their very own financial freedom.