Wisdom From Books

Mind your own ‘business’!! (one of many ideas from the book: Rich Dad, Poor Dad)

Posted on: November 18, 2009

In the book, Rich Dad, Poor Dad, Robert Kiyosaki mentions about an interesting story. Mr. Ray Kroc, Founder of Mc. Donalds visited a university in USA to make presentation on entrepreneurship. He asked students: What is my business? MBA class started laughing. One student got up and said: Come on Ray, we all know that your business is to sell Ham burgers.

Ray Kroc responded: No, that is not my business. My business is ‘real estate’.

This means that if Mc Donald’s hamburger selling flops due to any reason, Ray Kroc still won’t be bankrupt due to property of Mc Donald’s outlents…..

Mind your own business means:
1. Try to step up a small business side by side (if you have a job)
2. Create income generating assets from the business
3. Try to save some amount on a monthly basis.
4. When you receive your salary, its the time to decide: If you want to be rich, save to create an asset. If you want to remain what you are, spend…

Watch out for full summary on November 21, 2009

Happy reading

regards

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2 Responses to "Mind your own ‘business’!! (one of many ideas from the book: Rich Dad, Poor Dad)"

But a former P&G CEO Laffely said totally the opposite, he said, Take all the properties, bricks and mortar and give me the Brands and I will rebuild the whole empire from ashes.

Malik’s Comment: Thanks for your comment. Could you kindly explain it little further?

Ohhhhhhh November 21, 2009………………

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