Category Archives: Training & Education

‘Rich Dad’ Author Offers Entrepreneurs Unfair Advantage

I’m an avid book reader, and Robert Kiyosaki’s book “Rich Dad, Poor Dad” is one of my favorites. So when I heard that Kiyosaki was offering a book that promises entrepreneurs an unfair advantage, I just had to share it with you.

As Kiyosaki sees it, jobs are no longer stable—so the only think you can really control is yourself. That’s why he wrote his latest title, “Unfair Advantage.” The book challenges people to stop being time card punchers and start becoming owners and investors; to reinvent career paths.

Unfair Advantage outlines Kiyosaki’s five insider tips to encourage entrepreneurs to build positive cash flow businesses through (1) knowledge, (2) taxes, (3) debt, (4) risk and (5) compensation. Kiyosaki is well aware of the Small Business Administration statistic that says half of new businesses fail within the first five years. He says, “I write this because I believe we need real financial education before the world economy can truly recover.”

Going against the flow, Kiyosaki speaks to all segments of the workforce, including the thousands of college graduates coming into the world work this year. He questions the wisdom that says, “get a job, work hard, get a 401k, and invest in a diversified portfolio of mutual funds.” Instead, Kiyosaki recommends becoming a business owner who generates jobs.

Whether you are graduating college or in your retirement years, Kiyosaki stresses that it’s never too late. Kiyosaki points to Colonel Sanders, who sold his recipe for Kentucky Fried Chicken at age 66 after getting 1,000 rejections. Need some ideas? Unfair Advantage offers a few. Kiyosaki cites entrepreneurial examples like leasing a luxury car, and then offering limo service a few nights a month to earn back the payment and generate a positive cash flow.

Drawing from the wisdom of Rich Dad, Poor Dad, Kiyosaki says entrepreneurs can win by:

1. Learning to sell
2. Learning to invest via market trends, and
3. Learning to invest in real estate trends.

“The ability to sell is the most important skill of any entrepreneur,” Kiyosaki says. “The most important job of an entrepreneur is to raise money. I believe it is better to teach people to fish than to give people fish.”

Check out this video on the book:

AMEX, Wells Fargo Launch Small Businesses Projects

Small businesses can use all they help they can get—and two corporate behemoths are offering a leg up. American Express and Wells Fargo are ready to help small businesses grow.

American Express Open has partnered with SCORE to launch a multi-city tour that aims to help small business owners develop strategies and give them the educational and coaching programs they need to identify new opportunities for business growth.

Dubbed the “Small Business High Speed Growth,” the program expands on the previous “Small Business Speed Coaching Test Drive” event series to couples speed coaching with new problem-solving workshops. The 2011 events invite questions on a variety of topics, from surviving the current economy to finding the “right” customers.

For the first time since 2006, growth has surpassed survival as the number one priority for entrepreneurs, according to the American Express OPEN Small Business Monitor.  Perhaps further evidence that economic recovery is reaching Main Street, more than one-third (35 percent) plan to hire, the highest level since the fall 2008 survey.

“Small business owners are survivors having held on through uncertain economic times and are now, more than ever, ready to grow and expand their businesses,” says Karen-Michelle Mirko, director of customer advocacy at American Express OPEN. “These growth-focused entrepreneurs require increased support from trusted partners who can lend their expertise on key business issues.”

Meanwhile, Wells Fargo has kicked off its annual Small Business Appreciation Celebration with the launch of a new financial information portal for small business owners. The interactive Business Insight Resource Center offers business owners free access to multimedia content with tips and strategies on how to start, grow, manage, expand and transition businesses.

Visitors to the Resource Center will find hundreds of videos, articles, podcasts and webinars addressing the various aspects of owning and operating a business. Website features allow users to access information by topic, business type, or business stage and can be customized to showcase information most relevant to a small business owner’s needs or interests. Business owners can also share their opinions through online polls and surveys or share valuable content through social media platforms.

“Nothing is more helpful than real-world, practical knowledge being shared by fellow experts and business owners,” says Rich Sloan, co-founder and CEO of StartupNation and host of many videos found on the site. “Wells Fargo has done a great service to my fellow business owners by producing valuable, timely videos with tips and strategies that are easy to apply. The Business Insight Resource Center is filled with great advice that helps owners solve problems and move their businesses forward.”