Short Article for Introduction of "Millionaire Mindset: A Guide with 5 Influential Books, 22 Lessons, and 13 Vital Business Tips." (ebook)
Millionaire Mindset: A Guide with 5 Influential Books, 22 Lessons, and 13 Vital Business Tips.
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Millionaire Mindset: A Guide with 5 Influential Books, 22 Lessons, and 13 Vital Business Tips.
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Millionaire Mindset: A Guide with 5 Influential Books, 22 Lessons, and 13 Vital Business Tips.
Index
1. Rich Dad Poor Dad
- Lesson Number 1: Don’t Work For Money
- Lesson Number 2: Your Own Business Rich Dad Said
- Lesson Number 3: It’s never been a better time to acquire assets and build wealth
2. Think And Grow Rich
- PRINCIPLE #: You Are Responsible For Your Destiny
- PRINCIPLE #: Failure Is No More Than A Lesson
- PRINCIPLE #: You Need A Vision (otherwise where are you even going? )
- PRINCIPLE #: Create Urgency.
- PRINCIPLE #: After Defeat There’s Success.
- PRINCIPLE #: Never Stop Learning.
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3. The Millionaire Next Door
- Lesson number one being a millionaire goes beyond appearance
- Lesson number two Frugal and love to budget
- Lesson number three millionaires are efficient and responsible with money
- Lesson number four raise economically stable children
- Lesson number five accumulating wealth doesn't have a secret formula
4. The Art of War by Sun Tzu
15. Never Use:
16. Success Takes Discipline and Execution.
17. Speed First
18. Search For Easy Attack Points
19. Managing Energy and Staying Motivated
20. Be Flexible
21. Expect the Best, but Prepare for the Worst.
22. No One Wins in Prolonged Conflict
5. Eat That Frog
- SET THE TABLE PLAN EVERY DAY IN ADVANCE
- APPLY THE 80/20 RULE TO EVERYTHING
- IMPLEMENT THE ABCDE METHOD
- PRACTICE CREATIVE PROCRASTINATION
- APPLY THE LAW OF THREE
- TAKE IT ONE OIL BARREL AT A TIME
- UPGRADE SKILLS CONTINUOUSLY
- LEVERAGE YOUR SPECIAL TALENTS
- PRESSURISE YOURSELF INTO ACTION
- GET OUT OF TECHNOLOGICAL
- TIME SINKS CREATE LARGE CHUNKS OF TIME
- CREATE LARGE CHUNKS OF TIME
- CREATE A SENSE OF URGENCY
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Rich Dad Poor Dad 3 Most Important Lessons
The summarize key points from the well-known book “Rich Dad Poor Dad” by Robert Kiyosaki. So, even if you haven’t read the book, today I will teach you the most important lessons that I believe are contained in this book. Almost everyone in business has read it or at least knows about this book, it’s authored by Robert Kiyosaki and is one of the best books in my opinion on personal and financial education.
The principles and lessons taught in the book are simple and easily understood by just about anyone. If you’ve read his books, you know that Robert is a successful entrepreneur and real estate investor, but he didn’t start off this way. His story resembles just about every other entrepreneur’s story. He wasn’t born into a rich family, he wasn’t the smartest, nor was he the most successful either. Actually, he started multiple businesses and some of them failed.
One, in particular, he mentioned in the book is a nylon Velcro wallet company he started in the 1970s. Although his company was initially successful, it fell apart leaving him bankrupt, mostly due to overseas competition, putting him out of business. Amidst several failures he experienced in his business journey, he found success in the business of financial education and personal growth.
He started giving seminars worldwide until he created and published the book, Rich Dad Poor Dad, and that’s when his success took off. we are going to look into some of the key takeaways from this book.
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Lesson Number 1:
Don’t Work For Money
The rich don’t work for money according to Kiyosaki. They have money to work for them. While the average working person is paid hourly, it doesn’t matter how hard they work, they will always be paid the same amount or just a little extra. The rich, however, although they work hard, do it with one main intention, and that is to raise money, which ultimately has one goal: and that is to generate more money.
According to Kiyosaki, the rich use the principle of making money work hard for you, not you work hard for money.
One way to make money work for you is by investing.
Imagine investing in the stock market. If you pick the right stock, the right industry, and invest in the right time, (ideally when markets are down) you are most likely going to make a good return in your investment.
So, let me give you this quick example;
let’s say you invest $1000 into a stock you think has a lot of potential, to hold it for 5 years.
After 5 years, if you invested the money in a good company, your stock should have grown in value and now you can sell it for a good profit.
This is in essence stock investing.
See how this works? Well, all you have to do is pick the right investment, and then do nothing but hold and watch your money grow. After a while, if you held it for long enough. You’ll have a return on your investment without really working at all. Ok, but let’s suppose that you don’t have the knowledge and the money necessary to invest, what should you do? Well, first of all, you should start saving.
So, instead of working for money, you should work to educate yourself on money. So that one day, when you have money, you’ll know how to invest it and have it working for you. When you are making money without having to work for it, this is called passive income. It’s a type of income that you receive without lifting a finger, the equivalent of “making money in your sleep”. If you can learn how to leverage money and have it working for you, instead of working for money, you can start doing this and it will change the way you think about money forever. Instead of working and getting paid at the end of the month, from your 9-5, you can learn how to leverage your salary and have it working for you.
So the question is, why aren’t more people investing?
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And why don’t they take the necessary action towards success and a better life?
In the book, Kiyosaki said, “Anger is a big part of the formula, for passion is both anger and love combined. ” Fear is what controls and holds a lot of people back. You see, for a lot of people, instead of taking the risk of trying to invest money, they fear they’ll lose money. The poor and the middle class perceive investments as a risk,
but in reality, it is all risky.
It doesn’t matter what you do, if you don’t try to step up your money game, one day life will hand you the bill for not trying. Fear and emotions are what stops most people from trying, but here’s the thing: you should never let your feelings get in the way of your success. You have to look at all situations and be able to think objectively.
I have a little advice for you on this one. Whenever you have to make a decision and pick between one or more options, here’s what I want you to do. List all the pros and cons of every option, and then, no matter how hard it is, pick the one that is logically the best.
You have to think objectively and make that decision despite it being out of your comfort zone, even though it looks crazy or risky. But, back to having money work for you,
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you have to learn how to make money work for you,
and here’s the part that most people hate because they’re probably too lazy: you have to develop and learn the skill of investing money and having money work for you.
And nobody will pay you to do that! Not even school will teach you this! Here’s a quote from Kiyosaki's Rich Dad in the book,
when he made Robert work for him for free to teach him about money:
“keep using your brain, work for free, and soon your mind will show you ways of making money far beyond what I could ever pay you. You will see things that other people never see. Most people never see these opportunities because they’re looking for money and security, so that’s all they get. ” After this lesson, Kiyosaki and his best friend Mike started their first business. Renting comic books to his friends and neighbors, in their house.
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