I’ve learned some important basics and I want to share some of them here in this post.
I don’t pretend that these are all the basics. These are basic rules I find important.
1) The true intention of business should be: To make someone’s life better. To advance someone’s life with the particular product or service you offer.
2) You need a group, a team, business partner or assistant to help you become successful. You can not do it in isolation. No man is an island on his own. And you need to surround yourself with people who support you. Have somebody, a mentor or somebody to be accountable to.
3) Remember, people buy for their own reason, not for the reason you think they should buy. You need to know what their reason is. You need to know the problems they want to solve and offer them the solution. Build relationships. People buy from people they “know-like-trust”.
4) You need to know that money doesn’t solve problems, your thinking patterns do.
5) Losing is part of the process of becoming successful; don’t fear failure, it is part of the deal. Stop being afraid to make mistakes.
6) Know some of the important truths about money. I will write a post to talk about some of them.
7) Know the difference between Assets and Liabilities. Contrary to how I learned it in school, in his books “Rich Dad Poor Dad” and “Cashflow Quadrant”
Robert Kiyosaki, explains this simply as:
Asset is something that makes you money and Liability is something that costs you money.
This is very clear and true, because in school I learned book keeping from the point of view of the bank and the business owner I worked for. Doing business yourself you need to know what costs you money and what brings or makes you money.
Robert Kiyosaki keeps saying in the books I named earlier that Rich people know how to let money work hard for them.
Poor people will stay poor as long as they keep thinking that they have to work hard for money and make other people rich.
He also says that: “It’s not assets, real estate, stock, mutual funds, business or money that makes you rich. It’s the information, knowledge, wisdom, know how and one’s financial intelligence that makes a person wealthy.”
I agree that it is using your potential that can make you wealthy.
But unless you do something with it, take action and practice it, it will be only potential.