Rich Dad / Robert Kiyosaki Blog

May 10, 2009

Robert Kiyosak / Rich Dad Startup Interview

Filed under: Interviews — Tags: , — ~ @ 2:02 am

A Interveiw of Robert Kiyosaki from – http://www.startupnation.com/

What do you think is your secret to success?
Well, first of all, this is not a job for me. It’s not about the money. It’s about the mission. As a business owner, as an entrepreneur, without the mission which is the heart, mind sole, message, culture, I don’t think you have the strength to overcome the highs and the lows of being an entrepreneur. So the mission, which is spiritual, is what drives me on.
How did you form your mission?
It’s a process. I just got clearer on what my life was about and why I was put here on Earth. Was it just to make money? You know, I couldn’t go into the tobacco business, because I don’t believe in smoking. I couldn’t go into the liquor business because I don’t believe in drinking.
So then for me, when I really got clear on my message, is the story of my rich Dad and my poor Dad, a Ph.D. who just broke because he didn’t have any money. Well why don’t our schools teach us about money? A mission is very much a love hate anger and sadness. I really hate it when I see someone struggling financially. It drives me crazy. And I never did well in school. I hated school. So for me, [my mission] is to be in financial education because it’s important to me.
You say that you don’t need money to make money. What tips do you have for small business owners who are trying to keep their businesses afloat in today’s economy?
Well, you have to understand where money comes from. I wrote a book called, “Before you Quit Your Job,” and in there, I have a thing called the BI triangle. And “BI” stands for Business Owner and Investor. A business has eight moving parts, and people struggle because one or more of the eight moving parts is not there. A business cannot run unless it has all the parts working in a synchronistical way. Once you get the eight moving parts running, it smokes.
How do you suggest people find which part of their business is not working and to fix it?
Well, I would buy that book, or pick it up at the library, “Before you Quit Your Job”. Now if you don’t want to read the book, that’s up to you, but you will sit there in the blind and wonder why you’re in trouble.
Do you think it’s a good time to pursue a business?
It’s always a good time. It has nothing to do with good time or bad times. I’m making more money today than when the economy was good. Everyone is cutting back on marketing, PR and advertising. Right now, I’m spending more than ever before on marketing, PR and advertising because that’s how you gain market share. I’m getting more business because the weaker guys have fallen out of business.
What do you suggest if a small business owner doesn’t have the funds for marketing and promotion?
Then they shouldn’t be in business…period. Look. The number one skill of an entrepreneur is to raise capital. Period. All I’m doing all day long is raising money. If you can’t raise money, then you should be an entrepreneur. I’m constantly raising money and selling something.
What did you learn from your failures in starting and running a business?
The biggest lesson I learned is that I’m going to make mistakes constantly, and I’ve got to learn how to learn from my mistakes. A mistake is there for you, or God’s way, or whoever’s way, of saying to you that you don’t know all the answers. Learn from this mistake. The people who fail are people who don’t make mistakes or people who don’t learn from their mistakes.
What is the biggest lesson you learned from your Rich Dad?
Be an entrepreneur. I learned two things. I learned how to make money. I learned how to keep my money. So during this economic crash, I’m making more money than ever before because I approach investing and my own personal businesses as an entrepreneur.
You look at the people who are losing money today in the stock market. Most of them have no idea about the stock market, and they turned their money over to a mutual fund guy who has no consequences if he loses your money. He gets paid whether you make money or not. Now, how stupid can you be? I just don’t understand it….That is absolutely a recipe for disaster.
It’s the same as being an entrepreneur. I’m constantly in school. I’m constantly studying. I’m reading books on entrepreneurship. My study never stops.
What main pieces of advice do you have for entrepreneurs and new investors today?
I would say always be humble and be hungry and learn. Listen more than you speak.
What tips do you have for building long-term relationships with the people who can help a business and investments grow?
You have to be a great leader. It’s something I’m learning. I never stop learning to be a leader. I can’t say I am a great leader. I desire. I strive. I improve my leadership skills.
There’s a great book called “The Starfish and the Spider,” and it’s a great book on leadership. It’s a very simple read. They’re two different leadership styles. In other words, you cut the spider’s head off, the whole animal dies. You can cut a starfish up in a thousand pieces and get a thousand starfish. That’s the difference. I am a starship style. I am not a spider style. It’s a great book on leadership, and I’m consistent in my leadership.
Looking back over the years, is there anything you would have done differently to be more successful today?
I don’t regret anything I’ve done because everything I’ve done has been a learning experience. I never stop learning. I make mistakes constantly. Today, with the economy as hard as it is, I would just say a tough economy means I have to get smarter. That’s all it means. I don’t judge it as good or bad.
Other than being on “Oprah,” what marketing and promotional activities have been successful for you?
Every product I design has a viral component to it. In other words, I don’t have formal sales people working for me or my company. So if a product is viral, and that means if someone recommends your book to someone else, it was designed into the book and my board game.
In other words, I have people teaching people or people selling for me. And in today’s over-cluttered, over-communicated world, the person you’re going to listen to the most is a friend who says, “Hey, I read a great book, or here’s a great product I recommend.” It is the most powerful form of marketing there is. It’s also the oldest form of marketing there is.
Who are some other people that you look up to and have guided your career along the years?
Well, I have partners who I respect tremendously. I only do business with people I respect. You look at all of our company, and my advisors are real advisors. They are not financial planners. They are not celebrities. They are people hitting the trenches every single day.
Another thing too, I don’t have to know anything. I just have to know who knows. The reason I say that is I’m coming out with a new book called “The Conspiracy of the Rich” which is a Web book, and it’s for free.
Well, why am I doing this? Because I know it’s going to make me money. I don’t have to be the smartest person on Earth. I just have to know who is smart, who has ethics, who has integrity and who shares the same values I do.
What is your top advice for the entrepreneurs out there, and people who just have a good business idea, who are afraid to move forward?
I will say it again. Have them read the book “Before You Quit Your Job.” You’ve got to take advice from people who’ve done what you want to do. The point is, if you’re going to be successful at anything in life, you’ve got to spend time with people who practice what they preach. If you’re afraid, you’re probably hanging out with other cowards.
So in this economy, if we’re going into a depression, you better have Plan B ready to go. Don’t hope the economy is going to come back. Don’t hope Obama is going to save you…because they’re not. They can’t. You’ve got to save yourself. This is not a time to be afraid. This is a time to be brave. This is a time to become smarter. Not to become Chicken Little with the sky falling. And if you can do that, you’ll be an entrepreneur. If you can’t do that, you’re finished. This is the time to learn.
I think everyone sees the professional business side of you. Maybe you’d like to share some of the things you like to do in your free time?
Well, I hate to say this. Business is my game. It’s more than a hobby to me. It’s my life. And I’ve always surrounded myself with the best people…my greatest pleasure in life is hanging out with really smart people who are part of business and business teams.
What I cannot stand is illegal, immoral and unethical acts. I’m ripped to shreds constantly in the blogs. And I just have to be true to me. I know my accountants and my attorney wouldn’t be around me if I was a crook. Do you see what I’m saying? If you’re a crook accountant, you’ll hang out with a crook business leader.
Is there anything else you would like to share that we haven’t touched on that may help some of the entrepreneurs out there?
You are the company you keep. And if you improve, then the people around you will improve. It’s a very easy measurement. And what that comes up to is instead of trying to change the world, just change yourself.
And Robert ended the interview with a quote from one of his favorites, Henry Ford. “Thinking is the hardest work there is, that’s why so few people engage in it.”

http://www.startupnation.com/blogs/index.php/2009/02/03/robert-kiyosaki/

What do you think is your secret to success?

Well, first of all, this is not a job for me. It’s not about the money. It’s about the mission. As a business owner, as an entrepreneur, without the mission which is the heart, mind sole, message, culture, I don’t think you have the strength to overcome the highs and the lows of being an entrepreneur. So the mission, which is spiritual, is what drives me on.

How did you form your mission?

It’s a process. I just got clearer on what my life was about and why I was put here on Earth. Was it just to make money? You know, I couldn’t go into the tobacco business, because I don’t believe in smoking. I couldn’t go into the liquor business because I don’t believe in drinking.

So then for me, when I really got clear on my message, is the story of my rich Dad
and my poor Dad, a Ph.D. who just broke because he didn’t have any money. Well why don’t our schools teach us about money? A mission is very much a love hate anger and sadness. I really hate it when I see someone struggling financially. It drives me crazy. And I never did well in school. I hated school. So for me, [my mission] is to be in financial education because it’s important to me.

You say that you don’t need money to make money. What tips do you have for small business owners who are trying to keep their businesses afloat in today’s economy?

Well, you have to understand where money comes from. I wrote a book called, “Before you Quit Your Job,” and in there, I have a thing called the BI triangle. And “BI” stands for Business Owner and Investor. A business has eight moving parts, and people struggle because one or more of the eight moving parts is not there. A business cannot run unless it has all the parts working in a synchronistical way. Once you get the eight moving parts running, it smokes.

How do you suggest people find which part of their business is not working and to fix it?

Well, I would buy that book, or pick it up at the library, “Before you Quit Your Job”. Now if you don’t want to read the book, that’s up to you, but you will sit there in the blind and wonder why you’re in trouble.

Do you think it’s a good time to pursue a business?

It’s always a good time. It has nothing to do with good time or bad times. I’m making more money today than when the economy was good. Everyone is cutting back on marketing, PR and advertising. Right now, I’m spending more than ever before on marketing, PR and advertising because that’s how you gain market share. I’m getting more business because the weaker guys have fallen out of business.

What do you suggest if a small business owner doesn’t have the funds for marketing and promotion?

Then they shouldn’t be in business…period. Look. The number one skill of an entrepreneur is to raise capital. Period. All I’m doing all day long is raising money. If you can’t raise money, then you should be an entrepreneur. I’m constantly raising money and selling something.

What did you learn from your failures in starting and running a business?

The biggest lesson I learned is that I’m going to make mistakes constantly, and I’ve got to learn how to learn from my mistakes. A mistake is there for you, or God’s way, or whoever’s way, of saying to you that you don’t know all the answers. Learn from this mistake. The people who fail are people who don’t make mistakes or people who don’t learn from their mistakes.

What is the biggest lesson you learned from your Rich Dad?

Be an entrepreneur. I learned two things. I learned how to make money. I learned how to keep my money. So during this economic crash, I’m making more money than ever before because I approach investing and my own personal businesses as an entrepreneur.

You look at the people who are losing money today in the stock market. Most of them have no idea about the stock market, and they turned their money over to a mutual fund guy who has no consequences if he loses your money. He gets paid whether you make money or not. Now, how stupid can you be? I just don’t understand it….That is absolutely a recipe for disaster.

It’s the same as being an entrepreneur. I’m constantly in school. I’m constantly studying. I’m reading books on entrepreneurship. My study never stops.


http://www.startupnation.com/blogs/index.php/2009/02/05/robert-kiyosaki-intreview-part-2/

What main pieces of advice do you have for entrepreneurs and new investors today?

I would say always be humble and be hungry and learn. Listen more than you speak.

What tips do you have for building long-term relationships with the people who can help a business and investments grow?

You have to be a great leader. It’s something I’m learning. I never stop learning to be a leader. I can’t say I am a great leader. I desire. I strive. I improve my leadership skills.

There’s a great book called “The Starfish and the Spider,” and it’s a great book on leadership. It’s a very simple read. They’re two different leadership styles. In other words, you cut the spider’s head off, the whole animal dies. You can cut a starfish up in a thousand pieces and get a thousand starfish. That’s the difference. I am a starfish style. I am not a spider style. It’s a great book on leadership, and I’m consistent in my leadership.

Looking back over the years, is there anything you would have done differently to be more successful today?

I don’t regret anything I’ve done because everything I’ve done has been a learning experience. I never stop learning. I make mistakes constantly. Today, with the economy as hard as it is, I would just say a tough economy means I have to get smarter. That’s all it means. I don’t judge it as good or bad.

Other than being on “Oprah,” what marketing and promotional activities have been successful for you?

Every product I design has a viral component to it. In other words, I don’t have formal sales people working for me or my company. So if a product is viral, and that means if someone recommends your book to someone else, it was designed into the book and my board game.

In other words, I have people teaching people or people selling for me. And in today’s over-cluttered, over-communicated world, the person you’re going to listen to the most is a friend who says, “Hey, I read a great book, or here’s a great product I recommend.” It is the most powerful form of marketing there is. It’s also the oldest form of marketing there is.

Who are some other people that you look up to and have guided your career along the years?

Well, I have partners who I respect tremendously. I only do business with people I respect. You look at all of our company, and my advisors are real advisors. They are not financial planners. They are not celebrities. They are people hitting the trenches every single day.

Another thing too, I don’t have to know anything. I just have to know who knows. The reason I say that is I’m coming out with a new book called “The Conspiracy of the Rich” which is a Web book, and it’s for free.

Well, why am I doing this? Because I know it’s going to make me money. I don’t have to be the smartest person on Earth. I just have to know who is smart, who has ethics, who has integrity and who shares the same values I do.

What is your top advice for the entrepreneurs out there, and people who just have a good business idea, who are afraid to move forward?

I will say it again. Have them read the book “Before You Quit Your Job.” You’ve got to take advice from people who’ve done what you want to do. The point is, if you’re going to be successful at anything in life, you’ve got to spend time with people who practice what they preach. If you’re afraid, you’re probably hanging out with other cowards.

So in this economy, if we’re going into a depression, you better have Plan B ready to go. Don’t hope the economy is going to come back. Don’t hope Obama is going to save you…because they’re not. They can’t. You’ve got to save yourself. This is not a time to be afraid. This is a time to be brave. This is a time to become smarter. Not to become Chicken Little with the sky falling. And if you can do that, you’ll be an entrepreneur. If you can’t do that, you’re finished. This is the time to learn.

I think everyone sees the professional business side of you. Maybe you’d like to share some of the things you like to do in your free time?

Well, I hate to say this. Business is my game. It’s more than a hobby to me. It’s my life. And I’ve always surrounded myself with the best people…my greatest pleasure in life is hanging out with really smart people who are part of business and business teams.

What I cannot stand is illegal, immoral and unethical acts. I’m ripped to shreds constantly in the blogs. And I just have to be true to me. I know my accountants and my attorney wouldn’t be around me if I was a crook. Do you see what I’m saying? If you’re a crook accountant, you’ll hang out with a crook business leader.

Is there anything else you would like to share that we haven’t touched on that may help some of the entrepreneurs out there?

You are the company you keep. And if you improve, then the people around you will improve. It’s a very easy measurement. And what that comes up to is instead of trying to change the world, just change yourself.

And Robert ended the interview with a quote from one of his favorites, Henry Ford. “Thinking is the hardest work there is, that’s why so few people engage in it.”


Big thanks to start up nation (and Robert Kiyosaki of Rich Dad) for this interview
http://www.startupnation.com/

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