RSS Banner


Robert Kiyosaki – NAC 2009 Speaker I

Posted by: popoyan  /  Category: Seminars

What is the first thing that flash into your mind when heard the name Robert Kiyosaki? First thing that came into my mind when see this name is Rich Dad Poor Dad.

Yes, Robert Kiyosaki is the author of Rich Dad Poor Dad – which is one of the bestseller that remain on top of the New York Times bestsellers list for over six years.

Robert Kiyosaki is an investor, an entrepreneur and also an educator. He has a totally diffirent mind set in terms of money. He has challenged and changed the way tens of millions of people around the world think about money.

Robert Kiyosaki actually shared 3 most important Financial Management chart with us. All his talk were all around these 3 chart. We got to fulfill all the 3 chart in order to success in business or achieving financial freedom.

Chart 1: BI Quadrant

esbi-2

E =Employee who work for someone else
S = Self-employed who work for yourself with no employer and no employee or specialist like Doctor, Lawyer, etc
B = Business Owner who hire people/expert to work for them
I = Investor who use money to generate cash flow income

No matter how hard you work under quadrant E and quadrant S, no matter how professional you are, you are still earn only when you work. You will have no income once you stop working. To achieve financial freedom, we need to go towards quadrant B and quadrant I.

 For those who are under employment, I do not ask you to stop working now. You may actually start doing your investment while still under employment if you were to play safe.

Chart 2: Complete Business Pyramid

triangle-1

As per the image above shows, there are total of 8 important component to achieve to be consider as a complete or successful business.

The outer 3 component are the key requirement for a successful business.

Mission: a company without a mission will not be able to achieve much, they will just follow whatever people do and ended up not sure where are they heading do. Business normally will not grow under this situation.
Team: A successful business should consider of a strong team. If the business owner is the smartest guy in his business, then he is in trouble. Haha. Why? If the business owner is the smartest guy in his business, what happen if he is not around?
Leadership: We need a good leader to manage all the team within the business. If we have a big team but do not have a good leader, the team will not be strong to take care of the challenges a business will face.
The inner 5 layers are the details that a business must have to run smoothly aor to let the business to be able to run on its own.
Cash Flow: This is the most important among the 5 as without a cash flow, there is no business at all.
Communication: All the team member shall be able to communicate well internally and externally in order for the management team to convey some information or company goal to every single employee and for every one in the company to then transfer this message to their prospect.
System: Building system can be anything from jobscope from each personnel to any recording system, tracking system, etc that everyone shall follow in order for the business to run well. Everything will be messed up if there is no system to control all the people.
Legal: Not too sure on this. Sorry, Robert Kiyosaki did not actually touch much on this.
Product: This is the least important among all the above. If all the 4 key thing has been put into place nicely, you do not really need a good product to sell for your business.

 Chart 3: Income Statement and Balance Sheet

 

ieal

Income: Referring to money coming into our pocket. A property rented out is generating income.
Expenses: Referring to money going out of our pocket. Our house that we need to spend money to maintain it is expenses. 
Asset: Referring to something that will appreciate over time such as business, real estate, stock, gold, education, etc. This will be the key thing where it will help putting money into your pocket.
Liability: Referring to something that will depreciate over time such as cars, house, debt, etc. Liabilities will be taking money out of your pocket. I was shocked to realise that my investment in my own home was not considered an asset, but a liability instead.

4 key learning from Robert Kiyosaki to become rich:

  1. Let money works for you — Don’t work for money.
  2. Become a business man and investor, because Money work for you. They hire the professionals to work yet they receive majority of the profit from the business.
  3. Increase our financial literacy through good financial education.
    To become rich, we need to master the fundamentals of money before we start to invest or go into business. We need to understand income statement and balance sheet, and truly understand the definition of asset and liability.
  4. Last, but not least, conquer our fear and desire towards money.

I must highlight that that Robert Kiyosaki taught more than what I mentioned above. If you have not read his work, I recommend you go to richdad.com or buy his book “Rich Dad Poor Dad” from the nearest book store.

Robert uses simple English, so it was easy to comprehend his teachings especially for many Asians like me, whose mother tongue is not English. He also presented his teachings in the form of a story, which makes it enticing to read.

National Achiever Congress 2009

Posted by: popoyan  /  Category: Seminars

Seong Seong went to Singapore liao. Me alone at home. No mood to do other thing. Just finish playing with his Facebook pet -Ice (cute little pig) . Next time show you all hos his pig looks like.

After that, feel like lack of something not yet completed. Aha, not yet blog about seminars I attended last weekend. Here it goes…

I attended National Achievers Congress KL 2009 (NAC 2009) on 22/23/24-May-09 in The MINES (MIECC). This is organized by Success Resources.

This is the 17th National Achievers Congress. Guess what, there are people who really follow them for this event for up to 17 years. Wow!!! However, this is the first time joining it. I attended this seminar together with Seong Seong and 8 other colleague.

_mg_4821

NAC 2009 Seminar Hall (The MINES MIECC)

_mg_4883

Picture with NAC 2009 Poster

_mg_5090

Group photo. Vickson not in coz he holding camera due to …
he did not wear Exabytes T-shirt like all of us. haha.

The title or Headline for this seminar is “How The Rich Get Richer & How You Can Be Rich Too” which featuring World Class Speakers.

 _mg_49292

 

List below are Rich Dad’s Advisor which speaks on Day 1 and Day 2:-

  1. Robert Kiyosaki
  2. Kim Kiyosaki
  3. Tenzin Kacho (formerly Emi Kiyosaki)
  4. Blair Singer
  5. Kathy Heasley
  6. Andy Tanner
  7. Kelly Ritchie
  8. Michael Malaney
  9. Ken McElroy
  10. Dr Radha Gopalan

_mg_4855

Robert Kiyosaki & Kim Kiyosaki

Listed below are other speaker on Day 3:-

  1. T Harv Eker
  2. Stephen Pierce
  3. Greg Secker
  4. Ewen Chia

I have learn a lot during this 3 days seminar especially on how to get ourself ready for financial freedom and to retire earlier. I have also got some idea or we call it BFO from this seminars.

1st day meal (22-May-09, Friday)
Breakfast: nasi lemak (RM4) sold outside MIECC. Expensive and does not taste good
Lunch: nasi tomato (RM8) sold outside MIECC. Expensive and taste still ok.
Dinner: pork soup noodle behind Jaya Jusco Equine Park (on our way back Cyberjaya)

2nd day meal (23-May-09, Saturday)
Breakfast: nasi goreng biasa (RM2.50) bough from Petronas Cyberjaya. Cheaper price but taste nice 
Lunch: Nando Chicket in The Mines Shopping Mall
Dinner: Murtabak Hawaii (RM5) in Restaurant Murni in SS2. Food/Drink taste nice (at least all that we have ordered) and service is good.

3rd day meal (24-May-09, Sunday)
Breakfast: fried bihun (RM2.50) bough from Petronas Cyberjaya. Cheaper price but taste nice
Lunch: BBQ chicken rice (RM5) in Food Court of The Mines Shopping Mall. Taste moderate
Dinner: Claypot Chicken Rice in Bidor (on the way from KL back Penang). Excellent taste.

We wake up around 6am everyday and sleep around 12 midnight. Real tiring. We leave earlier around 4.30pm before the seminar ends. In other words, we miss Ewen Chia’s session. Reach home (Penang) around 10.30pm Sunday night. Directy take a bath and oioi straight away. Tiring but I enjoy the trip very much as I get to get together with all my lovely team mate and we got a lot of fun as usual.

My Reading: The ABC’s of a Building Business Team That Wins

Posted by: popoyan  /  Category: My Reading

Front cover of “The ABC’s of a Building Business Team That Wins” by Blair Singer, the Rich Dad’s Advisor.

RDA_ABC_CoverIIA

Forward by Robert Kiyosaki.

Statistic shows that 90% of new business fail within firts 5 years and 90% of the 10% that survive fail within 5th to 10th year. Only 2 main reason for a fail business (lack of money, lack of business skill)

Four main skills an entrepreneur must have:- 

  1. Sales
  2. Accounting
  3. Investing
  4. Leadership

Among the 4 skills mentioned above, the most important skill is Sales. Without sales, there is no need for the remaining three skills as there is no opportunity to use them.

Follow by Leadership skill. Many business fail due to they are unable to put together a strong team to do the impossible to make business a success.

Code of Honor:

Code of Honor is a set of rules or principles which is leading or influencing a community. Code of Honor will be the foundation of a culture of any organization. Code of Honor is the heart and soul of every team member.

We need to create a set of Code of Honor whereby all the players (team members) should know the rules and do nto interpret it in different way. The players (team members) must understand the rules and commit themselves to respecting it.