Adapt a Get-Rich Mindset for Business Success
By: Roberta Kiyosaki, author of Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don't
One question I pose to help sharpen your focus on what you want to accomplish is: Do you have the Midas Touch?
Can you find the golden egg -- the silver lining -- in whatever the economy and the dynamics of business throw at you? Can you overcome adversity and adapt a mindset that will set you up for business growth and profitability?
Here are a few things to think about… things that may help you answer that question…
Over 150 years ago Alexis de Tocqueville, a French aristocrat, argued that it was the American Dream that enabled Americans to tolerate the pain of social inequality. Americans knew there was a gap between rich and poor, but that it was a gap that could be bridged.
That was the American Dream, the stories of Horatio Alger, stories of ‘rags to riches.’ It was this American Dream that turned America into the most powerful country in the world.
A century and a half ago, Europe and Asia were very different. You were born into a class. If born a peasant, you were forever a peasant. You could never become a prince, princess, king, or queen.
In America, even an immigrant could become American nobility. You could become President, as Barack Obama did. Or you could become American royalty, as did Henry Ford, Steve Jobs, and Mark Zuckerberg.
Another question I pose is ‘Has this financial crisis killed the American Dream?’ Is it the death of this dream that causes America to divide into protest groups -- Tea Party versus Occupy Wall Street? Is America now a land of classes, rich and poor, the 1% and 99%?
I say “No.” America is still a land of opportunities, the magic kingdom of capitalism.
The challenge today is that there are more people competing for the American Dream, including competitors from Europe, Asia, and the world.
Feudalism is dying and capitalism is spreading as former Chinese and Russian peasants are now oligarchs.
We have to get smarter, faster, leaner, and much more competitive. This is why the unemployment rate is high. If you lack skills, ambition, and the ability to operate on a team, American business does not need you.
Ironically, American business is in good shape. It’s Americans who are in trouble. Today, businesses can hire workers from around the world…workers with skills, talent, hunger and a willingness to work for less.
My most recent book with Donald Trump is about the spirit of the American Dream, the spirit of an entrepreneur and what it takes to turn lead into gold, water into wine, and an idea into an empire.
The book is titled Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don't … and why I posed my opening question to you.
Do you have the vision to see opportunity where others see obstacles? The mental toughness to see potential and promise where others see only problems?
We use the fingers of the hand to illustrate five key elements to the American entrepreneurial spirit as the path to a get-rich mindset and building stronger, more agile and more competitive businesses.
- Your thumb represents your core strengths, your ability to turn bad luck into good luck, your courage to bounce back when knocked down, and the wisdom to learn from mistakes.
- Your index finger represents the acronym FOCUS: Follow One Course of Action Until Successful. Entrepreneurs must have the strength and discipline to stay the course -- and remain focused.
- The middle finger represents your brand. What do you and your business stand for? Most entrepreneurs fail to build their businesses into a brand, and remain a ‘commodity’ -- and commodities have far less value than a brand.
- Your ring finger represents the importance of relationships. There are great business relationships as well as toxic ones. Our conclusion: “You can’t do a good deal with bad partners.” So choose your partners well.
- Your little finger represents the little things. This applies to more than just the details of business and life. Your little finger represents the little thing you do that no one else can do. The mission and foundation upon which you build your business. For Federal Express it was “overnight”… for The Rich Dad Company, it’s making financial education “simple and fun.”
In adapting a get-rich mindset, I challenge you to develop and nurture your Midas Touch… to train your mind to see things that others miss… to defy the odds.
The road you’ll travel toward the American Dream will have its ups and downs.
One thing remains constant, though: Your Midas Touch… and it’s as close as the fingers on your hand.
The views expressed in this article are those of the authors and do not represent Monster and its affiliates.
Robert T. Kiyosaki is best known as the author of Rich Dad Poor Dad and Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don't (Plata Publishing, 2011), co-authored with Donald Trump. Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator and investor who believes the world needs more entrepreneurs. With perspectives on money and investing that often contradict conventional wisdom, Robert has earned a reputation for straight talk, irreverence and courage.