Book Review For people who like helping people by Robert T. Kiyosaki (Review 2/10)

For people who like helping people by Robert T. Kiyosaki

It’s a good book and a must read for everyone who is planning to set up their own business. Its full text on network marketing and the essential skills they teach to the people.

Some of the things Robert has repeated from his earlier classics but I still appreciate those lessons as they are very helpful and we tend to forget them much. I liked his some of the thoughts and ideals which are as under

The richest people in the world build networks. Everyone else is trained to look for work.

Also there are three types of education 1. Scholastic 2. Professional 3. Financial

Learn to have money work for you rather than you work for money.

Building your own business is the best way to be rich. After you have built your business, and have a strong cash flow, then you can begin investing in other assets.

A network marketing business is a new and revolutionary way to achieve wealth.

A network marketing system, a system I often call a personal franchise, is a democratic way of wealth creation.

Thinking is the hardest work there is. That is why so few people engage in it.

Values of network marketing

1.       True Equal Opportunity
A network marketing business has an open door policy

2.       Life-changing business education
Skills make you rich nor theories

3.       Friends who will pull you up, not push you down
Changing from one quadrant to another is change of core values

4.       What is the value of a network?
A Network’s Economic Value = Number Of Users²
The economic value of a network goes up exponentially, not arithmetically
Your job is to clone or duplicate someone just like you

5.       Developing your most important business skill
The ability to sell is the number one skill in business
We are all born sales people
If you want to buy you have to sell something first
People learn to overcome their fears rather than let their fears run their life
Rejection = Success
Rejection and Correction = Education and Acceleration
The more I risk being rejected, the better my chances are of being accepted

6.       Leadership
In growing a business, leadership skills are a necessity
True leaders inspire the spirit

7.       Not Working For Money
Emotional Intelligence Is Essential To Financial Intelligence
So build a business first, reinvest in the business second, and third buy real estate

8.       Living Your Dreams
People who dream small dreams continue to live lives as small people

9.       Marriage And Business

10.   The Family Business
True wealth is measured in Time Not Money

11.   How You Can Use The Same Loopholes The Rich Use

Quotes

1.       Network marketing gives millions of people throughout the world the opportunity to take control of their lives and their financial future.

2.       A network marketing business is a business with people who are there to help you become richer.

3.       The network marketing industry continues to grow faster than franchises or traditional big business.

4.       A network marketing business is for people who want to enter the world of B quadrant, either part-time or full-time.

5.       Simply put, a network marketing business, with its low cost of entry and great training programs, is an idea whose time had come.

6.       I found in network marketing companies an education system designed to draw out the rich person in you.

7.       In the world of network marketing, you are encouraged to learn by making mistakes, correcting, and getting smarter mentally as well as emotionally.

I truly recommend to read this book as a must read as it shows new avenues in the network marketing field and this field is not just about money but it truly inspires your helping nature and all grow together.

How to start new business?

For starting new business first thing needed is the ability to take risks in other words we call it the spirit of entrepreneurship. Other things needed to start new business are ideas, capital, planning and managing skillfully. All these things can be got from the market or can be arranged and managed somehow but the spirit of enterprise is in the base of starting any business however small or big.
Every entrepreneur seeks opportunity to start new business. First he looks in to market and grabs that opportunity for business. Then he needs to consider how much capital he will require and from where he get that finance. How much fund he has and how much he can get from other sources. This creates question of ownership of the firm. That firm can adopt sole proprietorship, partnership, private or public company or cooperative society. This decision depends on how much finance he requires now how much he wants to expand in future and how much he wants to create reserve for adversities.
To start with the place of operation is very important. Where should we locate our office and our production unit is an important decision and our comfort of running the business depends on it. Our office should be located in such place which is near to the customer and located in a good area for our office creates the first impression and having a good location helps a lot in negotiations with customers and suppliers. Production unit should be located in such place where the availability of labour is good and also transport facility is good and also land is cheap so as to create bigger store house.
Also the cost of finance is important. If we have invested our own money then we needn’t worry about the interest on the finance, if we have borrowed money from bank then we need to worry and lastly if we have taken money from the private lenders then we need to worry much. We should be able to gain all the licenses and the machinery and the raw material fast enough to stop the building up of the tension due to increasing interest on the borrowed money. Good and trusty manpower is in the base of any successful organization so we should choose our staff with care.
Advertising starts as soon as we start our production. Advertising is the face of any new company and it is the thing which can create our image and build our brand. Proper choice of media depending on our product or service is also very important; especially when we have limited funds and limited time before the actual launch of the product in the market. Quality of the product is also very important for any advertising can bring the customers but it is the quality which decides that they will stay with us or not. Similarly customer relations are also vital and should not be neglected. Customers should be attracted by our product and service and then only they will give us second and subsequent chances of doing business with them.
In short starting any new business is very thrilling and comparatively easy but to maintain the business in a profitable way requires skill and patience.