15 Business Tips for Young People from Robert Kiyosaki

I just saw a very inspiring video of John Chow about “the dot-com lifestyle” in which he is seen enjoying a sunny picnic on a lake with his daughters.

How he himself says it, unlike what you might think, the network entrepreneurs, beyond achieving wealth, travel and good cars, they can afford to have money and time to enjoy it with their families.

That vision describes exactly what many of us dream about and today I share with you 15 business tips for children and youth, taken from the book “Rich Kid, Smart Kid” of Robert Kiyosaki. Enjoy them.

  1. We are in the informacion era. Today, what you have learned quickly becomes obsolete. What you learn is important, but not as much as how quickly you learn, change, and adapt to new information.
  2. Financial education. We need more education but not the traditional kind. Every student today needs financial education, which is the education necessary to turn the money earned in their profession into long-term wealth and financial security.
  3. Intelligence. True intelligence consists in knowing what is appropriate beyond knowing only if something is “good or bad”
  4. To make mistakes. Many educators focus primarily on skills and often punish young people when they make mistakes. And being scared of making mistakes makes people want to do nothing. We put too much emphasis on the need to feel that we are right and on the fear of failing. The fear of failing and feeling foolish is what stops many people from trying. We must learn by acting!
  5. The power of ideas. I want people to know that they have the power and the ability to have all the money they want. If they want it. But the power is not in the money. The power is not outside of them. The power is in the ideas. It has nothing to do with money. The good news is, you don’t need money, you need ideas. Change a few ideas and you will gain power over money instead of letting money have power over you.
  6. The winning formula. Experts say that family problems are rooted in the fact that parents impose their winning formula on their children without respecting the child’s own formula. A good father would need to listen carefully and discover his children’s winning formula.
  7. The reason for poverty. Many poor people are poor because they learn to be poor at home.
  8. Give your kids power before you give them money.
  9. Find a mentor. The winning formula I learned at age 9 is having a mentor and learning by doing. Even today, I look for mentors that I can learn from. People who have already achieved what I want to achieve or I listen to audio tapes where they tell me how they have done it.
  10. The real world. Whether your children are doing well in school or not, be observant and encourage them to find their own learning formula because once they leave school and enter the real world, that is when their true education begins.
  11. Actives and pasives. Assets are those that put money in your pocket while liabilities are all those that take money from your bag.
  12. New financial ideas. Find new financial ideas before teaching your children the old ideas about money. Many people have financial problems because they continue to use old ideas almost always learned from their parents.
  13. Financial creativity. Develop your children’s financial creativity while they are young. Instead of telling them what to do, allow them to use their natural creativity and let them find their own ways to solve their financial problems and create exactly the kind of life they want.
  14. The secret to being rich. Many people fail to be rich for a reason. It is because they have been trained to think in terms of getting paid for the work they do. If you want to be rich you need to think in terms of how many people you can serve with what you do.
  15. Money doesn’t make you rich. Money doesn’t necessarily make you rich. The biggest mistake people make is thinking that having more money makes them rich. In the vast majority of cases, having more money represents having more debt. That is why money in itself makes you rich.

If you have not read it yet, I recommend this book by Robert Kiyosaki: Rich Kid, Smart Kid, a formidable source of teaching and principles to guide our children towards the true Financial Freedom.

You can watch John Chow’s The Dot Com Lifestyle video here.

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