Rich Dad

I love this story.
On the first day, he worked with full mind.

At the end of the day, the Boss :- How many sales did you sell on the first day today?

Sir I sold 1

Boss : Only 1 sale ??? Usually every salesman working here does 20 to 30 sales daily. Well, tell me for how much money did you sell ???

$93300 dollars.

Boss : What ??? But how did you do it?
One person came and I sold him a small fishing hook.
Then a mazola and then finally sold a big hook. Then I sold him one big fishing rods and some fishing gear.

Then I asked him where do you go to catch fish and he said in the coastal area….
Then I said it would need a boat. So I took him down to the boat department and sold him a 20 ft double engine scooner boat.
When he said this boat won’t come in his Volkas Wagon, I took him to the auto mobile section and sold him the new Deluxe 4 x 4 blazer to carry the boat.
And when I asked him where would be going fishing ??? He didn’t plan anything. So I took him to the camping section and sold him a six sleeper camper tent.
And then he said when he took all that he would take $ 200 groceries and 2 cases of beer.

Now the boss took 2 steps back and asked in a very rude way :– You sold all this to the man who came to buy only 1 fish hook???

“NO, SIR…” He only came to take 1 tablet for the headache…. I explained to him that fishing is the best way to get rid of headach

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I was discussing this story with a friend, what a salesman?
My friend said, ya the poor guy gets a salary for his brilliance. I am sure he must have made it big by now on his own.

If you want to make money, you should be a good seller. We guys did our engineering with an intention to get a job and be a slave all our lives. More, we kept criticizing the owner, who takes all the money.

I hate selling, I said.
I am sure you must be hating money also, he said.
Well,I need money to meet my expenses and save for old age.

He asked me have you read the book by Kiyosaki , Rich DAD, POOR DAD.
I have read it, long time ago, I remember the gist of it, where he says get into real-estate or stock market and make money work for you. Then, I never liked to sell, always ended up losing and felt guilty, don’t know why.

That’s because we grew up in an environment and got conditioned with the advise that study hard, get into an employment in a big company, live a secured life, he said. I am one of them who grew up with that mindset and regretting. I collected lot of laurels and prizes, what I don’t have is money, he said
Highly educated, professionally successful and financially illiterate that’s what most of us are

He asked me, you write, do you make any money ?
I said, no, I don’t know how to encash.
There you are, we are literates with all the degrees and financial illiterates.
A characer in the book, a rich guy, who is a best selling author is talking to a lady who writes well . She hates selling and he doesn’t write, somebody writes for him. He tells her , “I am a best selling author and you are a best writing author, the difference between us”.
He quoted from the book and more..
Love of money is the root cause of all evil,one would say and the other, the lack of money is the root of all evil. That’s the excuse from one do not know how to make money and the one who makes money.

Our lives are controlled by two emotions, fear and greed ( desire).
Don’t avoid risk, learn to manage risk. Applicable in stock market to be successful, when the price goes down by a percentage sell it and stop your loss, buy it again when it moves up again.

Money is power, more powerful is the financial education.

People never learned how money works, they spend their lives working for money.

The poor and middle class work for money. The rich have money work for them.

It’s not how much money you make, it’s how much money you keep.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

More money seldom solve someone’s money problem. Intelligence solves problems.

If you find you have dug yourself into a hole…stop digging.
Royalties from intellectual property such as music, scripts and patents
Anything that has value,produces Income or appreciates and has a ready market.

Start minding your own business.keep your daytime job, but start buying real assets not liabilities.
If you work for money, you give power to your employer, if money works for you, you keep the power and control it.
Business owners earn, spends, pay taxes.
Employees who work for corporations earn, pay taxes, spend.
Job security for some, learning for others.
Management skills for success :
Management of cash flow
Management of systems
Management of people
The most important special skills are sales and marketing. Ability to communicate.
Communication skill as writing speaking and negotiating are crucial.
The above are one liner extracts from the book.

When I asked a guy, how much money does he want to make, he replied, “I want to be in a position where I can donate 90 percent of my earnings and keep the rest”.

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