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Success Advice

Kim Kiyosaki’s Advice For A Successful Life

Joel Brown (Founder of Addicted2Success.com)

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Kim Kiyosaki

The highly successful business woman and wife of Robert Kiyosaki, “Mrs. Kim Kiyosaki” shares her valuable advice for success in life and in the business world. Kim just jumped off her “Live Rich Dad Q&A Chat” to answer a handful of bugging questions from her followers and fans. Kim Kiyosaki started the Q&A with explaining the importance of finding communities of people with similar goals, passions and drive.

Here is some more golden advice from the beautiful and remarkably successful, Kim Kiyosaki.

 

 

Kim Kiyosaki’s Advice

 

1. How to present a deal to a lender or investor?

There is a rule that says “Money follows management.”

And there are 3 things that you have to keep in mind when bringing an offer to the table.

1. Project
You have to have a great project, what is the investment?

2. Partners
Who are your partners, who are the people who are going to make this happen?

3. Management
Experiences, have they done this type of investment before?

 

2. Staying  away from the debt trap?

Good Debt: Buying a duplex rental property, putting down 15 – 25%, the money you borrow is good debt, after you pay off your loan you end up with cash-flow.

Bad Debt: When you are using money out of your own pocket.

Look for the investments with good cash flow. I would borrow money all day long if it will bring in good cash flow.

The trick is to always have someone else pay for your debt.

 

3. The most important habits that will change your life?

Pay yourself first: With every $1 that comes in the household, take 30% off the top, 10% could go to your investment account, 10% to your savings and %10 to a charity.

Pay yourself for your future first. Get into a habit of doing it with every single Dollar, Pound, Peso, Euro whatever it is.

When I bought my very first property in 1989, part of the money that we had was from that investment account. It’s really tough in the beginning if you are struggling to get by but it will pay off in the long run.

You have to make it a habit to take some percentage off the top.

Today Robert and I practice the same habit except now it is 80% off the top.

 

4. What you can do to think like a millionaire?

One thing Robert and I do is have a plan before we have the money, we have investments prepared for where that money is going to go to. . Right now I am looking at Real Estate deals, we are constantly moving that money, especially when the banks are paying 0.3% interest.

We just bought a liability a vacation house in carolina, first thing we asked how much is it going to cost every month. We found an investment, in the oil and gas industry and right now that investment is paying for our vacation house.

Years ago Robert wanted a new Porsche, he asked me what I though and I said “sure, as long as we can find an asset to pay for it. S we found a mini storage that we leased out and it paid for the Porsche. We still have the Porsche and the mini storage was sold and invested it into an investment building we own today.

If you don’t take action, actively looking, actively making mistakes then nothing is going to happen.

We have to financially take care of ourselves. The government won’t take care of you, they are in it for themselves.

 

5. How to deal with down days

The purpose of a business is to solve problems.

When things really go bad. When I really have a big problem. I have a mantra that I live by, the mantra is: “Something good is going to come out of this mess.” Robert and I have gone through some messes in the past and even recently. When we had to let go of one partner we got 2 fantastic partners which we have today.

Donald Trump said something once, when he was 900 Million dollars down. In an interview someone asked Donald, “Don’t you worry at night?” Donald Trump said:

Worry, who worries?, I take action on things that I can take on, and forget about the other things that I have no control over.

 

6. How to deal with male counterparts In the business world

I never had a problem dealing with Men. If you are smart with your money the world doesn’t care if you are male or female.

The argument is that a lot of strong business women may come across rude or bitchy if they stand their ground in business, and in a mans case, they may be seen as smart. It’s almost like successful business women have a trade-off of being successful with being liked.

Just because you have to lay down the law why do you think of it as rude or bitchy just because it is a woman?

A lot of women say its tough in a mans world, that’s just an excuse, If you don’t like where you are then change your environment.

When it comes to money, a lot of people say they don’t have the money, if you want to get started, you have to get creative to find the money. In that process, a lot of people don’t take action until they are pressed up against the wall, create your own wall, find the investment and make it happen.

Steve Jobs once said:

“You have to be passionate about what you do.”

Passion is what will keep you going when you hit that wall. A lot of women wont take that first step because they haven’t found their reason why, their passion.

 

An Inspirational Picture Quote By Kim Kiyosaki

Kim Kiyosaki Picture Quote

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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There are ups and downs in business but fearing failures can stop you from taking your first step towards excellence. With pandemic on tow, aspiring entrepreneurs feel a little stuck when ideating a business prospect. Here, we give you some actionable tips to deal with negativity while starting a business, even during situations like a pandemic. We also took the liberty to throw in some amazing book recommendations that’ll help you enjoy the process of being positive and achieving your business goals.

10 Tips to deal with negativity while starting a business in a pandemic

1. Get a mentor

The first thing to do as a new business owner is to find the right kind of mentor. That person could be someone in your industry or in general who you look up to. The guidance must be apt for your business, and it should be a mutual responsibility of sharing knowledge. 

2. Two big R’s – Routine and Refresh

Made a mess of something? Try to reboot the situation and make it work. Take a break once in a while and refresh yourself if you feel stuck or your ideas feel mundane. Plan a routine and stick to them – both personal and professional. Having a routine can increase productivity and engage in more activities apart from your pre-planned schedule. 

3. Inculcate problem-solving mentality

Do not panic once you are thrown a problem. Arrange a meeting with the respective party, listen to both sides of the stories, and make a decision that is more realistic and feasible. 

4. Hire half and half

Whenever you hire someone for your business. Make sure that half of the people contradict your ideas, and the other half have the same mindset as yours. The people who contradict can bring in more valuable points and their perspective might take the discussion to a whole new level.  Don’t take too much time finding the perfect one. Hire an apt person who can have the right attitude. 

5. Network, Network, and Network

Find like-minded people and mingle with them. Be more sportive in the learning process. Listen more and talk less – if you are a beginner. You can only be a constructive person who gives input to someone if you have listened to everyone’s point of view. If you feel down, your network might have something to uplift your mood and change your perspective on something. 

“Negativity, in general, is one of the things that holds people back, and you have to see what’s holding you back to get away from it.” – Lucy Dacus

6. Tech-savvy personnel

Learn a thing or two about the latest technology that you implement in your organization. Since the world revolves around technology, make sure your administrative authority knows as well.  

7. Don’t schedule a meeting, that could have been an email

Yes! I said it. Having unnecessary meetings will weaken the purpose of having a constructive discussion. Having back-to-back meetings drains the team members and yourself too. Always have a 10 to 15 minutes break between each meeting to feel refreshed and give your 100%. 

8. Have a pros and cons list

Always, I mean always have a pros and cons list. Let’s say one of your team members pitch an idea to improve the marketing strategies starting next month. Jot down the pros and cons before approving or rejecting it point-blank. It’s a systematic way of making a decision. 

9. Track your finances

Even if you have a team of accountants and auditors, make sure that you are present (both mentally and physically) – learn if you are not aware of it. Trusting your employees is a must, but not overseeing the records is a mistake that should be avoided. 

10. Remember your “why?”

At some point in your hectic schedule or not having ME time can get to you. During those tough times – ask yourself – “Why am I doing this?”. If you can answer this question with a valid explanation, you’ll feel energized. Because “A purpose drives you”. 

5 Best books to read to be more positive as an entrepreneur

Reading always puts me into perspective. Therefore, I took some liberty to give a sample of positivity and determination through words. 

These are the 5 books that’ll guide you to be a more positive and successful entrepreneur. 

  1. Attitude is everything by Jeff Keller – The decisions you make, the routine you set for yourself, and the affirmations you say to yourself every day are going to make a huge difference. If you feel tired, hopeless, and quitting – then this book is for you to boost you up!
  2. Mindset: The new psychology of success by Carol Dweck – You do what you think. In this book, the author talks about two mindsets: The growth mindset and the fixed mindset and what they’ll do to you respectively. She helps you recognize your mindset and change it for the better. 
  3. Innovator’s Dilemma by Clayton Christensen – This book is about technology uprisings all over the world and businesses that adopted and implemented technology in their firm. The author teaches you that just because your competitors and others are adopting something into their businesses doesn’t mean that you have to as well. Make an informed decision. 
  4. As A Man Thinketh by James Allen – This book specifically is about the power of thought and how it shapes your life into a more meaningful and fulfilling one.
  5. The Power of Now by Eckhart Tolle – The author talks about how people always keep thinking about what the future holds but then forget to live and enjoy the present. And also helps us understand how to make decisions more efficiently based on the present. 

Working towards inner balance requires consistency and perseverance. So does hard and smart work. Being negative is a part of our lives. It’s important to channel it appropriately and make things happen despite the roller coaster ride that is our lives. Hope you overcome your fears and negativity to shine bigger and brighter. Cheers! 

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