Robert Kiyosaki is the author of “Rich Dad Poor Dad”, and this very popular artist and businessman people financial all across the country. He was born in Hawaii, and he is a fourth generation Japanese American. His book “Rich Dad Poor Dad” sold over 26 million copies. Kiyosaki fought in the Vietnam War, and he joined the military directly after college.
Kiyosaki theories about business are very interesting. He differentiates between employee, self-employed, business owner, and investor. He defines employee as working for somebody else. He defines self-employed as when one has his own job, and is his own boss. He defines business owners as some one makes money from his business, and typically where the owner’s physical presence is not required. He defines investor as someone investing money to receive a large income in the future.
He teaches people the difference between liabilities and assets based on his opinions. An asset is anything that generates you revenue. A liability is any thing that takes money from one such as a house or a car. Other business owners and investors take a different approach on business.
Marty Nemko is a journalist for Kiplinger.com. He writes an article on keeping one’s business plan simple. When one keep their business plan simple competition is far less, and the business is simpler to run. He breaks down what should be done when starting your business in steps.
1. Don’t innovate replicate he believes being a guinea pig is too risky.
2. Don’t seek status avoid the more attention one receives the more competition they create.
3. He says invest little heavy start up cost can crush business before it gets started. 4. Minimize rent instead of renting a building; sale ones product from home or high foot traffic location.
5. Don’t take on a partner they deprive one from what they really want self-employment and control.
6. Finally, if the first location is not doing so well start another one. Keep cloning your business until you are comfortable.
Marty Nemko is a career coach and author of Cool Careers for Dummies. He has been self employed for 22 years.
I don’t agree with Marty Nemko at all; his logic is sound, but it sounds like he is afraid to take any risk. In my opinion the bigger the risk the better the results as long as you have the proper plan.
http://www.kiplinger.com/columns/onthejob/archive/2007/job1010.html
http://en.wikipedia.org/wiki/Robert_Kiyosaki
