When asked for advice on how to be wealthy, Robert Kiyosaki usually advises entrepreneurs to "think big." This is how he has earned his own fortune and how he has seen others do the same. Although it may sound like a platitude, "thinking big" might just be the secret to great wealth.
Robert Kiyosaki learned this lesson while growing up. His rich dad thought big while his poor dad thought small.
His real father, whom he nicknamed "poor dad," followed the conventional advice on success. Although he was well-educated, with a Ph.D., and worked hard as the superintendent of education for the state of Hawaii, he died broke. Meanwhile, the father of his friend Mike, who dropped out of grade school at the age of 13, became one of the richest men in Hawaii. Although poor dad appeared to have everything going for him while rich dad had little to his name, they thought differently. By following conventional wisdom about success, poor dad eventually lost all his money. Meanwhile, rich dad went from rags to riches by breaking away from conventional wisdom and thinking big.
These two drastically different perspectives gave him a much deeper appreciation for the value of thinking big when it comes to making money and investing it. Although rich dad did not use the words "think big," preferring to use business terminology like "leverage" and "expansion," the idea was the same.
Education Vs Street Smarts
Thinking big has nothing to do with education. It has more to do with courage and imagination. Thinking big in business means understanding how to leverage a position and understanding how to expand operations. This requires certain cognitive skills associated with street smarts like possibility thinking, resourcefulness, and intimately understanding the structure of a business.
Robert Kiyosaki has looked at many professional businesses where the staff was well-educated and well-paid who had to rely on plain hard work to make a profit. What these businesses lacked was a system, a way to replicate results. Thus, a law firm will generally not earn as much as a McDonalds franchise. The highly skilled work of a lawyer cannot be easily replicated in a courtroom or board meeting. However, even a high school student can successfully manage a McDonald's restaurant because everything has been standardized and there is a systematic way of doing everything.
CEOs Vs Entrepreneurs
CEOs work to maintain the existing structure of a business, trying their best to keep profits high and expenses low. While some CEOs may think in terms of expanding their business operations, they generally tend to play it safe.
Entrepreneurs, on the other hand, are visionaries. They believe in the evidence of things not seen and they work hard to bring their vision into reality.
Occasionally, entrepreneurs will blossom into excellent CEOs as well, continuing to expand on their vision even when they have established a solid business. Donald Trump, Sir Richard Branson, Steve Jobs, Bill Gates, and Michael Dell, for instance, continued to push new product lines despite the success of their business.
However, broadly speaking, the difference between CEOs and entrepreneurs is the size of their thinking. CEOs, charged with protecting the interests of the company's shareholders, tend to think safe. Entrepreneurs, meanwhile, tend to think of either improving existing products or developing something entirely new.
Thinking Big Through Association
Robert Kiyosaki does not believe that it is necessary to create a huge organization to leverage the idea of thinking big. While, of course, one way to think big is to build WalMart's all across the United States like Sam Walton, it is not the only way. You can still think big while staying self-employed. For instance, Tiger Woods, makes a fabulous income from playing golf, but he thinks big by endorsing big companies. Similarly, famous movie stars think big through their association with big movie companies like Warner Bros who can promote their pictures with big-budget marketing.
Sometimes an entrepreneur associates with others who inspire him to think big. Although Robert Kiyosaki is a millionaire, his association with Donald Trump made him think even bigger. Working shoulder-to-shoulder with Donald Trump as they co-wrote a business book, he noticed how Donald Trump thought big, creating breathtakingly beautiful resorts, skyscrapers, and top-rated television shows. Consequently, he has decided to take his education company public, a move that will position him to earn billions.
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Jack Jameson is a life coach, financial planner and real estate investment guru. When he is not brokering deals, he spends time writing to share his tips for success. He frequently draws on advice from the writings of his mentor Robert Kiyosaki at https://www.richdadcoaching.com/.
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