Want To Start Your Own Business? Here Are Some Insights from Robert T. Kiyosaki

Photo Credit: Dmitry Belov / CC0 1.0
One interesting thing about being a millennial is that I've noticed that my peers and myself have the entrepreneurial itch. Maybe it has to do with that we started our careers during the Great Recession. Maybe it's because we're working in jobs that don't make ends meet. Maybe we're unsatisfied with our "regular" jobs. Or maybe, just maybe, we want to do something more to make this world a better place.

According to Robert T. Kiyosaki, author of Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, if you want to be an entrepreneur, you have to think differently than everyone else. If you're in the same boat as me (and many other millennials) and want to jump into entrepreneurship (especially network marketing), here are some insights from his book The Business of the 21st Century:

1. Having your own business is the only way to take control of your income.

Being a business owner keeps you employed (you can't fire yourself) and it gives you greater control over what you earn. Keep in mind, it contains risk, but if done wisely, it could reap huge rewards.

2. In order to have financial freedom, you need to be a business owner and/or an investor.

Being an employee may get you income, but you are limited in what you earn. Ownership releases you from that limitation because what you earn depends on you, not your salary per hour.

3. If you want to be rich, you're going to have to change your mindset and lifestyle.

Successful people think and act differently than unsuccessful people. Business owners, investors, and every other type of entrepreneur think differently than employees. They have different responsibilities, priorities, and risks. They also have a different set of benefits.

4. Hard work alone isn't enough to build wealth.

Hard work is important, but it's not enough. You need the right knowledge, skills, and grit to build wealth. It's not just doing things right, but doing the right things. 

5. You need to build assets.

Building wealth isn't the same as having things. You can't just buy a whole bunch of physical luxuries and then consider yourself rich. You need to build your assets. Assets are something that bring you cashflow or a stream of income. That's what will make you rich.

6. Who you surround yourself with makes a BIG difference.

Like it or not, we all are influenced by our surroundings. Surround yourself with positive people and they will have a positive impact on you. If you surround yourself with successful people or people with similar interests and values, that will help you grow.

7. Networking is communicating information while telling a great story.

Successful people build a strong network. According to Kiyosaki, the rich build networks and everyone else has coworkers. In a successful network, people benefit in meaningful collaborations that is geared towards building wealth for everyone involved, not just you. 

8. Leadership is what builds great businesses.

Leadership is what makes the difference between successful and unsuccessful businesses.  Leadership is the tying force that unites all your other skills. To be an effective leader, you're going to have to use all your skills, experience, and knowledge. By sharing your vision, you make things happen with your leadership.

As insightful as this is, it's just the bare bones. If you want more details from Kiyosaki himself, you can get the book here.

Roderick Conwi writes at NourishmentNotes.com about lifestyle development. To get powerful insights that enhance your day, join his free newsletter.    

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