Advice to be a Successful Entrepreneur by expert
Robert Kiyosaki is a world-renowned writer for his "Rich Dad Poor Father" book series. He is also an educator, investor, entrepreneur and financial expert.
In our article, we will mention 6 life lessons that Kiyosaki learned from the "rich father" who helped him manage his money, build a considerable fortune and finally retire comfortably when he was only 47 years old.
1- It is not important how much money you earn, but how much you can hold.
Most of us learn very well how to make money, how to start a business and how hard we need to work - but we don't know how to manage our money, although that's the most important part. Because money in hands far from financial intelligence is doomed to disappear.
You don't need to be an expert, get an MBA, or swallow finance books to have financial intelligence. According to Kiyosaki, you can start by learning the difference between recruiters and debts, and here is the way to realize whether you want to be rich or not. Next, you should focus on improving your savings and make sure you don't lose more money than you earn.
2- The poor and middle class people work for money. The rich have money that they always keep at hand, that works for them.
Kiyosaki is not the only one to point out that there is a profound difference between the rich and middle-income people in choosing a method of receiving payments. Middle-income people choose to receive a fixed salary or an hourly rate, a time-based payment. Wealthy people usually own their own businesses and prefer commission, stock options, or profit-sharing on higher salaries.
Kiyosaki states that if you are someone who works for money, the ropes will always be in your employer's hands. According to him, money is only a tool to run your business and you can be the one who has the power and controls it.
Working for money is relatively easy - writing a resume that we learn in school, finding a job and working hard, etc. the information serves exactly this purpose. Making your money work for you - starting a company, being the boss of your own business, or investing - requires calculated analysis and a considerable level of comfort in uncertain situations.
3- Those who can make big leaps are not smart but brave.
In the real world outside of education, there is a need for more than high grades. “There are many different discourses about what this excess is; some call it courage, and some say it is dare, courage or a challenge; sometimes it can be an example of cunning, determination or brilliant genius. Whichever way it is defined, it is a fact that this factor ultimately has more say in a person's future than school grades.
To summarize, rich people are the ones who play to win, because this requires a risk-taking and ability to handle uncertainty situations comfortably, just like your money is working for you.
As important as the role of taking risks in getting rich is to be smart about the risks to be taken; Therefore, Kiyosaki particularly emphasizes the importance of risk “management”. He says that unconsciously blind risks won't get you anywhere, but wisely taken risks are the mother of all rewards, where your education and experience play a key role.
The key to the smart risk box is hidden in financial intelligence, because according to Kiyosaki, risk is always present. What increases chances is financial intelligence itself. At this point, his recommendation for business owners who want to be an expert in money management is to read as much as possible about accounting, investment and markets. Because financial genius requires both technical knowledge and courage.
4- The most powerful thing we have is our mind. It can create enormous wealth when directed correctly.
Rich people find creative solutions to financial problems. They choose to take it all and use their financial intelligence to the last.
We keep saying financial intelligence, what does it mean?
It can be said that simply defining financial intelligence means having more options. If opportunities aren't coming to you, what else can you do to improve your financial situation? If an opportunity is just in your lap, and you don't have money, and banks are closing doors in your face, what else can you do? What ways do you apply to seize the opportunity? This is not a common occurrence, we are aware, but we want you to think about how different financial solutions you can find to create millions from a lemon.
5- While everyone focuses on the profit and loss balance sheet, the rich focus on the income statements.
While middle-class people are busy calculating their hourly wages, wealthy people focus on their wealth and net worth.
So you should start to exist as soon as possible; When we say assets, we are talking about things that will make money in your pocket instead of things like debts that take money out of your pocket. Things like stocks, bonds, your own company and intellectual property are your assets; loans include mortgages, consumer loans and credit cards.
Kiyosaki notes that the long-term rich first form their pillars of wealth. Later, they manage to buy their luxury of life with the income from the wealth column. Low-income or middle-class people, on the other hand, can create the legacy of their children or the luxury of life they have only by putting their teeth on their nails and shedding sweat.
6- Those who fear failure lose their chance of success.
Most people are doomed to lose, they never win out of fear of losing or failing.
But the best and most durable learning is what we get as a result of our mistakes. We learn to walk and dream. The same goes for learning how to ride a bike and get rich… Failure is part of success.
Comparing money management to a tennis game, Kiyosaki explains this situation as follows: “I play too hard, I make mistakes, I correct my mistakes, I make more mistakes, I correct them and I get better and better. If I lose the match, I go to the other side of the net, shake my opponent's hand, smile and say "See you next Saturday".
We hope you don't give up in the face of failure and find a way to achieve success and wealth.