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The Business of the 21st Century: Review
Robert Kiyosaki, author of the best-selling “Rich Dad, Poor Dad” series of books, has just published a new book. This is a review of the latest book “21st Century Business”.
He introduces the book:
“In 21st Century Business, I’m going to show you why you need to build your business, and exactly what kind of business. But it’s not just about changing the type of business you’re working with; it’s also about changing you. I I can show you how to find what you need to grow the perfect business for you, but in order for your business to grow, you have to grow too.”
The premise of this book is that you can still experience success in business. Despite the current “hard times” due to the global financial crisis, fortunes will be made.
But merit means you should choose wisely.
It is a current reality that American workers are competing with workers from every country in the world. Many of these workers are happy to do the same job for a tenth (or less) of your current wage!
Because of this – and many more economic factors – we live in an era of unprecedented unemployment levels. Rates are often associated with “The Great Depression” but that is not a fair comparison.
While the percentage of unemployed people may be similar to depression levels, we live in a completely different world. Levels of education, technology and mobility are a hundred times higher than in the 1930s. And yet, tens of millions of Americans are unemployed — or “underemployed” and working in jobs below their education and experience. This is especially true for “baby boomers” who have very slim chances of finding their old jobs.
Robert Kiyosaki touches on this reality in his description of “The Cash Flow Quadrant.” He says that all income earners fall into one of four categories, or the four corners of the “cash flow quadrant.”
The four sections are:
Staff: These people are looking for a good job with benefits. They are also 100% at the mercy of their employers, who are at the mercy of global competition. Every employee’s goal is to have some money left over after paying all their expenses.
Self Employed: These are small business owners and sole proprietors, characterized by “mom and pop” stores and service providers. Unfortunately, many displaced workers who have tried to open a business find that they only “bought” a 100-hour-a-week job. They also quickly learn that when they stop working they stop earning.
Business Owner: These people understand that maximum earning potential can only be achieved through many, many efforts. A business builder creates a “machine” that operates around the clock, without their direct input at every step of the process.
One of the big differences in a business owner’s wealth building ability is the legal and ethical ability to record expenses on a “pre-tax” basis.
and is the fourth quadrant investor. The investor has acquired enough wealth so that their money now “works” for them! This is the goal that all people strive for, if only to reach the point where they can someday “retire.” Unfortunately, many Americans today cannot retire without drastic reductions in their lifestyles.
According to Kiyosaki, business owners and investors represent less than 20% of the productive population. More than 80% of workers are not free to dictate their own schedule – they are tied to their job or their store.
Robert Kiyosaki advises that everyone should aim to become a self-employed business owner. He then writes why network marketing is “the business of the 21st century” for these reasons:
1. Network marketing is the easiest business model to transition from employee to business owner. You can also start transitioning part-time and full-time. Additionally, the cost of entry is very low – usually as little as a few hundred dollars.
2. Network marketing is a system that gives leaders a vested interest in your success. These leaders – and the marketing systems available – also provide extensive training to help you succeed. In most cases, these training resources are available for free or at very low cost. Note: It is always cheaper to buy accumulated wisdom than to repeat the mistakes of successful people!
3. Network marketing offers the most effective means of promoting a product—that is, using personal relationships to provide recommendations. (Today these recommendations extend to thousands of “friends and followers” online)
4. Network marketing leverages the efforts of dozens, hundreds, and thousands of others. All of these people are working on their business but also creating a stream of residual income for you.
5. Network marketing offers almost unlimited opportunities to increase your knowledge and develop your personal skills – making you more valuable as a leader and a resource to others. It also puts you in the circle of influence of other leaders who are in the top 1% of income earners and opens up more opportunities.
6. Network marketing is a scalable venture. There are many opportunities open to successful network marketers. All these can be expanded to grow the business, across the country or around the world.
7. Network marketing not only builds wealth but also creates wealth. The business you build is a legacy. You can create a business that will outlive you.
8. Networking marketing is a business that creates residual income. You also create multiple streams of income – more than 80% of workers who have one paycheck are penniless when it ends. Residual income is what you earn even when you’re not “working” and you can’t turn it off! For these reasons, network marketing really has no income limits!
9. Network marketing has no education requirements. Even if you are highly educated, you can participate! There are no barriers based on race, age, background, or any other factor that would make you “unemployable” in a normal job search. Today, hundreds are lining up for a job opening as a janitor. In network marketing you can bypass every obstacle and get started right away.
10. Network marketing exists perfectly to take advantage of modern technologies. While the industry has thrived using only face-to-face sales methods for decades, these new technologies expand the opportunities exponentially. In particular, the development of social media gives you access to thousands, even millions of people. It is also a fact that millions are looking for ways to increase their income at any given moment.
For all these reasons, Robert Kiyosaki concludes that network marketing is “the business of the 21st century.”
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