Rich Dad - 10 Lessons Before Quitting Your Job to Start a Business

Author: Robert T. Kiyosaki and Sharon L. Lechter
Publisher:
Publish Date: 2006-01-01
Features: Do you have a great idea worth millions? Are you afraid of failure? Are you tired of working for others and helping them make money? Are you unwilling to kowtow to your boss? Are you fed up with hard work without progress? This book tells you the 10 lessons every entrepreneur should learn. If you're ready to fight your own battle, then this book is for you! How can one transform from an employee to an entrepreneur? Although many dream of quitting their jobs and striking out on their own, few actually take the leap. Why? Because the transition from employee to entrepreneur is far greater than changing jobs. It's a complete transformation. Before making this change, you should read this book—it's about the spirit of entrepreneurship, written by a real entrepreneur who has experienced the ups and downs of business and tasted both success and failure. Robert T. Kiyosaki, a fourth-generation Japanese American, started his company in 1977 and achieved success, expanding his accomplishments over time. In 1994, at the age of 47, Robert sold his company, achieving financial freedom and early retirement. Subsequently, he co-authored books such as Rich Dad Poor Dad, Rich Dad Poor Dad: Path to Financial Freedom, and Rich Dad Rich Kids Smart Kids with his partner and business partner, Sharon L. Lechter. All these books have ranked on the bestseller lists of major media outlets such as The Wall Street Journal, Business Week, The New York Times, and Amazon. Sharon L. Lechter, as one of the authors of the Rich Dad series and the CEO of "Rich Dad Organization," has dedicated her professional expertise to education. She advocates developing new technologies and using innovative, challenging, and fun methods to educate children.
1. Rich Dad Entrepreneurship Course teaches: Successful businesses are created before they are launched.
1. Rich Dad Entrepreneurship Course teaches: Successful businesses are created before they are launched.
Chapter: What's the Difference Between an Employee and an Entrepreneur? Starting with the Right Mindset
Growing up, I often heard my poor dad say, "Get good grades in school so you can find a well-paying job." He always encouraged me to become a high-salary employee. On the other hand, my rich dad often said, "You should learn to start your own business and hire talented people." He encouraged me to become an entrepreneur. One day, I asked my rich dad what the difference was between an employee and an entrepreneur. His answer was, "Employees join a company after it's born, while entrepreneurs start working on it before it's born."
99% Failure Rate
Statistics show that 90% of new businesses fail within five years. Statistics also show that of the remaining 10% that survive, 90% will cease to exist in the next five years. In other words, about 99% of new businesses last no more than ten years. Why? The reasons are varied, but the following are likely the most important:
1. Our schools train students to be good employees who find jobs, rather than entrepreneurs who create job opportunities and start businesses.
2. Good employees don't necessarily make good entrepreneurs—the skills required are very different.
3. Many entrepreneurs fail to start their own businesses; they end up working for themselves as freelancers instead of business owners.
4. Many entrepreneurs work hard but earn less than their employees. As a result, many give up halfway through due to exhaustion.
5. Many first-time entrepreneurs start businesses without enough practical experience or capital.
6. Many entrepreneurs have brilliant products or services but lack the business skills to build successful companies on them.
Laying the Foundation for Success
My rich dad once said, "Starting a business is like jumping out of an airplane without a parachute, then trying to make one in mid-air, hoping it will open before you land." He also said, "If the parachute isn't ready when you hit the ground, it will be very difficult to climb back onto the plane and try again."