There are no bad business and investment opportunities, but there are bad entrepreneurs and investors. To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. The size of your success is measured by the strength of your desire, the size of your dream and how you handle disappointment along the way.
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"Why is the creative entrepreneur the riskiest type to be?" I asked. "Because being creative means you are often a pioneer. It is easy to copy a successful and proven product. It is also less risky. If you learn to innovate, create, or invent your way to success, you are an entrepreneur creating new value rather than an entrepreneur who wins by copying."
So what is happiness? I am sure this question will be asked through the ages. And I doubt there is one answer for all people. Like heaven and hell, one person's happiness can be another person's unhappiness, which is why I'm not attempting to tell you what to do to find your happiness. I have enough trouble finding and hanging onto my own true happiness.
Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability.
Whenever you feel 'short' or in 'need' of something, give what you want first and it will come back in buckets. That is true for money, a smile, love, friendship. I know it is often the last thing a person may want to do, but it has always worked for me. I just trust that the principle of reciprocity is true, and I give what I want.
One method of staying ahead of rising asset prices and the declining dollar is to think bigger and come up with better plans. As important as financial and business planning is a plan for personal development and self-improvement. I'm often asked to invest in people's business plans, and one of the reasons I turn many of them down is because a big plan requires a big person who's spent time on personal development. In a lot of cases, a business plan is far bigger than the person with the plan - that is, the dream is bigger than the dreamer.
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The most important job of the entrepreneur begins before there is a business or employees. The job of an entrepreneur is to design a business that can grow, employ many people, add value to its customers, be a responsible corporate citizen, bring prosperity to all those that work on the business, be charitable, and eventually no longer need the entrepreneur. Before there is a business, a successful entrepreneur is designing this type of business in his or her mind's eye. According my rich dad, this is the job of a true entrepreneur.
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A problem with school is that you often become what you study. If you study, let say cooking, you become a chef. If you study law, you become an attorney, and a study of auto mechanics makes you mechanics. The mistake in becoming what you study is that, too many people forget to mind their own business. They spend their lives minding someone else's business and making that person rich
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Money is not worth dying for. I know, because years ago, while nearly a million dollars in debt, suicide was an option. Rather than run, rich dad suggested I write down all the mistakes I made and then seek help. If I made accounting mistakes, I talked to an accountant. If there was a legal mistake, I talked to an attorney. That was my way out. That is how I got smarter.
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I can't afford it' shut down your brain. it didn't have to think anymore. besides, it also brings up sadness. a helplessness that leads to despondency and often depression. 'How can I afford it?' opened up the brain. forced it to think and search fro answers. it also opens up possibilities, excitement and dreams and created a stronger mind and dynamic spirit.
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Right now, the technological world plus God or spirituality is evolving. I think America has become a little bit too corrupt, government's a little too corrupt, too greedy. Many corporations are too greedy. The labor unions are too greedy. That effects charities and religious organizations. I just think it's greed. That's why, in 1985, I had to figure out how to give before I received. The more I focus on giving, for less and less, the more and more I make.
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