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The Business of the 21st Century: Review
Robert Kiyosaki, the author of the best-selling series of books “Rich Dad, Poor Dad” has recently published a new book. This is a review of his latest book, “The Business of the 21st Century”.
Present the book:
“In The Business of the 21st Century, I’ll show you why you need to build your own business, and exactly what kind of business. But it’s not just about changing the kind of business you’re working with; it’s also about changing yourself . 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 will have to grow.”
The premise of this book is that you can still experience success in business. Despite the “hard times” due to the global economic crisis, fortune will be made.
But the qualifier is that you have to choose wisely.
It is a reality today that American workers are competing with workers in every country in the world. Many of these workers are HAPPY to do the same job for a tenth (or less) of your current salary!
For this reason – and many other economic factors – we are experiencing an era of unprecedented levels of unemployment. Rates are often correlated with “The Great Depression,” but that’s not a fair comparison.
While the percentages of people who are unemployed may be similar to the levels of depression, we live in a completely different world. The level of education, technology and mobility are a hundred times more advanced than in the 1930s. And yet tens of millions of Americans are unemployed, or “underemployed” and working in jobs far below their education and experience. This is especially true for “Baby Boomers” who have very little chance of matching their old jobs.
Robert Kiyosaki touches on this reality in his description of “The Cash Flow Quadrant”. It says that ALL income falls into one of four categories, or four corners of the “Cash Flow Quadrant.”
The four divisions are:
Employee: 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 money left over after paying all their expenses.
Self employed: These are small business owners and freelancers, typified by “Mom and Pop” shops and service providers. Unfortunately, many displaced workers have tried to open a business only to find that they only “bought” a 100-hour-a-week job. They also quickly learn that when they stop working they stop earning.
Company owner: These people understand that maximum earning potential is only achieved by leveraging the efforts of many, many more. A business creator creates a “machine” that works around the clock, without his direct intervention at all stages of the process.
One of the HUGE differences in a business owner’s wealth creation potential is the legal and ethical ability to record “pre-tax” expenses.
And the fourth quadrant is the investor. The investor has achieved enough wealth that their money now “works” for them! This is the goal that all people strive for, if only to reach the point where one day they can “retire”. Unfortunately, the vast majority of Americans today can never retire without a drastic reduction in their lifestyle.
According to Kiyosaki, entrepreneurs and investors represent less than 20% of the productive population. More than 80% of workers do not have the freedom to manage their own schedules: they are tied to their job or their shop.
Robert Kiyosaki advises that EVERYONE should aim to be a self-employed entrepreneur. Then write WHY Network Marketing is “The Business of the 21st Century” for these reasons:
1. Network marketing is the easiest business model to go from employee to business owner. You can also start part-time and move to full-time. Also, the cost of entry is very low, usually only a few hundred dollars.
2. Network marketing is a system that provides leads who have a vested interest in YOUR success. These leaders, and the marketing systems available, ALSO provide extensive training for success. In most cases, these training resources are available for FREE or at very low cost. Note: It is ALWAYS less expensive to buy the accumulated wisdom of successful people than to repeat their mistakes!
3. Network marketing provides the most effective means of promoting a product, that is, using personal relationships to provide recommendations. (Today these recommendations are extended online to thousands of “friends and followers”)
4. Network marketing leverages the efforts of tens, hundreds, and even thousands of other people. All of these people are working on YOUR business, but they are also creating a residual income stream for you.
5. Network marketing offers almost limitless opportunities to increase your knowledge and develop your personal skills, making you more valuable as a leader and as a resource to others. It also places you in the circle of influence of other leaders in the top 1% of income and opens up additional opportunities for you.
6. Network marketing is a scalable business. There are many avenues open to successful network marketers. All of this can be scaled up to grow the business, across the country or around the world.
7. Network marketing not only creates wealth but an asset. The business you create is a legacy. You can create a business that will outlive you.
8. Network marketing is a residual income business. You also create multiple streams of income, unlike over 80% of workers who have a single paycheck and are helpless when it ends. Residual income means you earn even when you’re not “working” and you can hardly turn it off! For these reasons, network marketing really has no income ceiling!
9. Network marketing has no education prerequisites. You can even participate if you are overeducated! There are no barriers based on race, age, background, or any other factor that can make you “unemployed” in a typical job search. Today, hundreds are lining up for an open job as a janitor. In network marketing, you can skip all the hurdles and get started right away.
10. Network marketing is perfectly positioned to take advantage of modern technologies. While the industry has been successful for decades using only face-to-face sales methods, these new technologies expand the opportunities exponentially. In particular, the growth of social media gives you access to thousands, even millions of people. It is also a fact that millions of people are looking for ways to increase their income at any time.
For ALL these reasons, Robert Kiyosaki concludes that Network Marketing IS “The Business of the 21st Century”.
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