Monday, June 16, 2008

Is Robert T. Kiyosaki a scam artist?

The author of Rich Dad Poor Dad, Robert T. Kiyosaki, is quite the polarizing figure. He's like a Clinton you either love him or hate him there doesn't seem to be any middle ground. I've seen him catch a lot of flack on-line. He's been called a con-artist and scammer. Are these things true? Has he really done the things that he claimed or is it all fiction? I'm not here to discern the truths on this matter. Instead I will pose a question that I find to be more important. Does it really matter if the story is true or fictional?
My answer is a big NO! Here is my reasoning. First of all I find the Rich Dad series to be entertaining. A friend of mine came up to me and said" I've never read a full book before that wasn't for school. This is the first time I read a book from cover to cover and I enjoyed. Now I know what I want to do." This alone gives value in my opinion, that person went on to take action. Take action is one of prime tenets Robert preaches. By the way that individual owns about a dozen rental properties. One of which is a shore property in Wild Wood N.J. When he started out he didn't know anything about real estate, but while taking action he began getting educated. He began by gathering people around him who knew what he needed to know- a real estate agent/investor(his mentor), a banker to handle financing, and a account to get the most out of his real estate company. Business is a team sport. This is another one Robert's tenets. This friend of mine I consider pretty smart he graduated from Rutgers with a B.A. in chemistry. He didn't come from money, actually grew up in my neighborhood(if you are interested in what that means read about me.). He put himself through school roofing.
So that is at least one success story inspired by Robert Kiyosaki that I personally know of. Another point I 'd like to make is that the Rich Dad series is very motivational. Even if it is only mildly educational. But if you know nothing it is at least a start. If it read like a text book I personally wouldn't of read two pages. They keep me interested, motivated, and entertained. Which drove me seek out more in-depth sources of information and a mentor in the Field of which I'm seeking to master(and no I'm not paying for that mentoring).
I believe paid mentoring is a scam Robert is accused of. I don't really know if it is or not. I guess it is worth whatever you get out of it. Before paying someone to mentor you do your do diligence. Make sure you read and understand any contract you enter before committing to it. Do diligence is actually another one of Robert's tenets. Actually it seems to me if Robert is running some kind of mentoring scam all you'd have to do to avoid it would be listen to the advice given in his Rich Dad series. Personally I agree with him you need a mentor if your embarking on a new endeavor, though I'm not so sure you really need to pay to get one. I believe in his books he makes suggestions on how to find these kinds of people.
So to wrap this up scams or no scams, true or fictional, it is whatever you make of it. My advice don't get bogged down in the hype good or bad. Rich Dad actually has a lot to teach. Robert is a superb salesman. He excels at self promotion. There is definitely something to be learned about marketing from him. O and these three things I didn't get buy reading or buying his books, just observing what Robert and his company does. Another observation at least some of the people criticizing him are promoting some service, product, or themselves. So maybe they have taking a page out of Rich Dads book.

Wednesday, June 4, 2008

Are you on the right network-marketing team?

Has any one else ever joined a network-marketing group before? What happens next? I'll tell you what, nothing! Nothing, why, because no one told me what to do next. They said "I've a great business opportunity for you, pay this, sign here." But that's where their engagement with you stopped no step1 let alone step2. Maybe the person will ask how's your business going , but without guidance it doesn't go anywhere. Network-marketing takes a lot of work. That work is extra difficult when you aren't even sure what you should be doing. So how do get around this problem you need a mentor, but if the person that signed you up just started, what then? So you need more then just a mentor, you need a strong team with leaders who possess expertise in your product and how to market it. Those leaders then need ways to get that information to there team in a way that it can be used to duplicate their results. Anybody familiar with Michael Gerber's E-Myth series? It's good stuff he talks about duplicable systems. I mention this because if your on a team and it isn't giving you tools that are easily duplicable you might need a new team. There should be systems and protocols in place that can be followed with little experience and/or understanding. Essentially you should be able to fake it until you make it. Knowledge and understanding will come with time and experience the process should be set up in a way that as you follow the steps gain understanding. My own mentor found the perfect network-marketing business, signed up was ready to go. Guess what happened? Nothing , that's right nothing happened. He discovered those above him where lame ducks, wasn't the companies fault plenty of people where making money and doing great. So what was the problem, great company and super product. Two things caused him to fail. First-lack of knowledge and experience. Second-the most important the lack of leaders with systems in place to see the new recruits through the process. Realising the problem he didn't give up. What he did do is quit that dead-end team, spent some time researching in order to get on a winning team and is now succeeding. So I ask you if you are on a team, is it the right one and if not what you going to do about it?