RICH DAD POOR DAD 50 KEY POINT TO BECOME A SUCCESSFUL BUSINESS MAN

RICH DAD POOR DAD 50 KEY POINT TO BECOME A SUCCESSFUL BUSINESS MAN

👉But that is not how life teaches you, and I would say that life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying, ‘Wake up. There’s something I want you to learn.

🤞If you want to be rich, you have to learn to make money.
✍️An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket. 
✍️If you want to be rich, simply spend your life buying assets. If you want to be poor or middle class, spend your life buying liabilities.
👉A person can be highly educated, professionally successful, and financially illiterate. These people often work harder than they need to because they learned how to work hard, but not how to have their money work hard for them.
👉The rich focus on their asset columns while everyone else focuses on their income statements.
‌assets that I suggesting that you or your children acquire? In my world, real assets fall into the following categories:
            • Businesses that do not require my presence I own them, but they are managed or run by other people. If I have to work there, it’s not a business. It becomes my job.
             • Stocks 
             • Bonds
             • Income-generating real estate
             • Notes (IOUs) 
             • Royalties from intellectual property such as music, scripts, and patents
               • Anything else that has value, produces income or appreciates, and has a ready market
👉if you want to be luckier and create money instead of working hard, then your financial intelligence is important.
📖The poor and middle class work for money,” he would say. “The rich make money. The more real you think money is, the harder you will work for it. If you can grasp the idea
that money is not real, you will grow richer faster
👉Financial intelligence is made up of these four main technical skills:
1.   Accounting 
2.   Investing 
3.   Understanding markets 
4.   The law
👉In school we learn that mistakes are bad, and we are punished for making them. Yet if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk. The same is true for learning to ride a bike. I still have scars on my knees, but today I can ride a bike without thinking. The same is true for getting rich. Unfortunately, the main reason most people are not rich is because they are terrified of losing. Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.

The main management skills needed for success are: 1.   Management of cash flow 2.   Management of systems 3.   Management of people