Rich Dad Advisors Feature in Forbes

Rich Dad Advisors Entrepreneurship, Financial Education 0 Comments

The Rich Dad Advisors and Robert Kiyosaki were interviewed by Garrett Gunderson for Forbes, revealing what is more important than money for running your business. You can read the full article below:

“Many people have million-dollar ideas. They’re confident that their new product or service or innovation will make them rich and that all their dreams will come true. The problem is: Most people don’t know how to turn their million-dollar idea into millions of dollars,” says Robert Kiyosaki.

Kiyosaki, of course, is the author of the #1 best-selling personal finance book of all time, Rich Dad Poor Dad. In his latest effort, More Important Than Money, An Entrepreneur’s Team, Kiyosaki puts forth that the people you surround yourself with are more important to your success than money. If you surround yourself with people who have a poor person’s mindset, then success is likely to be elusive. But if you surround yourself with people who understand entrepreneurship and living with abundance, then you’re more likely to turn that million dollar idea into millions of dollars.

Written with Kim Kiyosaki and the 8 Rich Dad Advisors, More Important Than Money is a collection of “lessons learned” and sage advice from the entrepreneurs Kiyosaki surrounds himself with. I recently had the opportunity to learn more about the new book by posing two questions to Robert Kiyosaki, Kim Kiyosaki and the 8 Rich Dad Advisors, “What was your biggest lesson learned in business?” and “What’s more important than money for running your business?” Here are their responses:

What Was Your Biggest Lesson Learned In Business?

– Robert Kiyosaki (“Rich Dad Poor Dad”):

The importance of creating an environment for lifelong learning and study. Kim and I gather our Advisors together several times a year to study and discuss business and personal development books. We believe that a team that learns and grows together is the strongest possible team. These meetings and study sessions also serve to make us a tighter team, who is more tuned into our common goals and our shared vision and mission.

– Kim Kiyosaki (“Rich Woman”):

I’ve learned to trust my instincts, my intuition. That doesn’t mean that I don’t do my due diligence, my research, and make sure whatever we’ve considering or evaluating makes sense related to our business plan and the marketplace, but I’ve learned to never underestimate how on target my instincts are when it comes to opportunities, partners, choices. Trusting my instincts has served me well over the years, and it’s always my last “gut check” in decision-making.

– Blair Singer, Sales and Team Advisor (“Team Code of Honor”):

For myself, the biggest lesson I learned in business was that our success was a direct reflection of two things: 1) my level of personal and emotional development and 2) my ability to make mistakes and correct, regardless of what others thought about me. Early in my career as an entrepreneur, my fears and insecurities limited my selling ability, capital raising ability and my willingness to take risks. Another lesson is that the “context” or environment of our business is more important than the “content” of the business. The way you do business is more important than the business you are doing. Business and selling are emotional contact sports, and the more I work on myself, my team and the context, the stronger we are and the more money we make.

– Darren Weeks, Raising Capital Advisor (“The Art of Raising Capital”):

My biggest lesson was to actually start young. If I had to do it all over again, I would have started my own business while in University so I could apply what I was learning. With this strategy, I believe I wouldn’t have failed as many courses since my interest in my classes was so low.

Bottom line, start young and start learning your mistakes earlier.

– Garrett Sutton – Legal Advisor (“Start Your Own Corporation”):

Disputes will occur. Prepare for them. Anytime two or more people come together for a business venture disagreements are sure to arise. Work on procedures at the start so that a serious deadlock does not take down the company.

– Tom Wheelwright, Tax and Wealth Advisor (“Tax-Free Wealth”):

Growing too fast can be just as big a challenge as growing too slow. If you do grow fast, be sure to prepare for it. Step back and make decisions that will be good for the long run, not just to handle the immediate growth issue.

– Ken McElroy Real Estate Advisor (“The ABCs of Real Estate Investing”):

Hire slow and fire fast, most people do the opposite. Follow the cash. Make sure your financials are in order each month so you can do adequate projections and analysis. The bankers will want to review these when you need to get lines of credit or debt.

– Josh Lannon, Social Enterprise Advisor (Warriors Heart Founder and “The Social Capitalist”):

Your team will kill you if you let them. Having healthy boundaries and saying no is a good thing. Don’t get caught up in the small stuff. Keep driving towards your vision, and know that team members will come, and others will go.

 

– Kim Kiyosaki (“Rich Woman”):

You never want to lose sight of your mission. Your mission is what drove you to create your business. It’s what attracted the strong leadership you’ll need to deliver your products or services, and it’s what has inspired the team you have assembled. Mission is spiritual, and when we embrace the mission that fuels and drives us, there are no obstacles too big.

– Blair Singer, Sales and Team Advisor (“Team Code of Honor”):

Countless times in my business life, it has been our teams that have bailed us out of dire straits and that have also taken our success to the next level. However, the magic that makes that happen is not our product, service or offering. It is the Code of Honor, the set of value-based rules, that create the “context” or the environment that takes ordinary people and turns them into a championship team.

– Darren Weeks, Raising Capital Advisor (“The Art of Raising Capital”):

Mentorship is a critical component to a successful business. Without a personal mentor, I would not be anywhere near where I am today financially. Unfortunately, I did not understand the importance of a mentor or how to find one until I was already in my thirties.

– Garrett Sutton – Legal Advisor (“Start Your Own Corporation”):

A good trade name. To build a brand you need to trademark and protect your business name.

– Tom Wheelwright, Tax and Wealth Advisor (“Tax-Free Wealth”):

Culture – Your company culture has a huge impact on your team. If your culture does not require personal responsibility and high standards, you will develop a team that does not take on personal responsibility and that does not have high standards. This is part of the leadership skills that create a productive team.

– Ken McElroy Real Estate Advisor (“The ABCs of Real Estate Investing”):

Leveraging your time by utilizing other people (your team). Most early entrepreneurs do everything themselves and don’t delegate. Delegate everything and anything that does not directly provide you revenue and growth.

– Josh Lannon, Social Enterprise Advisor (Warriors Heart Founder and “The Social Capitalist”):

Tap into the power of “why.” Your “why” is stronger than money. You will make money and lose money in business, but your “why” can never be taken away. It’s yours!

More Important Than Money, An Entrepreneur’s Team

Robert Kiyosaki’s new book, featuring Kim Kiyosaki and the 8 Rich Dad advisors, is the 27th book in the Rich Dad series. More Important Than Money, An Entrepreneur’s Team also contains some of the “best chapters” from previous books and is available now.

Click here to read the original full Forbes article.

 

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