Professional Documents
Culture Documents
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So how strong is your spirit? I ask because its your spirit that ultimately makes you
an entrepreneur. Your spirit is what has you build a big business. Its spirit that caused
Ray Kroc from McDonalds to take an average hamburger and build a mega-billiondollar corporation. We can all build a better hamburger than McDonalds, but Ray
Krocs spirit, knowledge, and tenacity is what built the worldwide business we know
today.
The Difference
Between Belief
and Trust
Years ago, a preacher told me a story about trusting God. He said a guy strung a rope
across Niagara Falls and told the crowd watching him, Im going to ride my bicycle
across this rope. Everybody cheered and said, Yeah, George. Go for it, George. Yeah,
we believe in you, George. We believe in you.
Old George then climbs on his bicycle and he starts pedaling across, and pedaling,
and pedaling. Hes wobbling, but he gets to the other side. He then turns around
and pedals back. Everybodys cheering, the closer he gets the louder they cheer and
everybodys jumping up and down saying, Yes, George. We believed in you. Yes,
George.
Once he is safely back, he says to the crowd, Who wants to sit on the handlebars and
go across with me? No one accepts the offer. While they all believe in George, no one
trusts him. Theres a difference between belief and trust. Just then, out of the crowd,
a little girl raises her hand and says, Ill go with him. The crowd gasps and pleads,
Dont go. Thats too risky. Thats dangerous. What do you think youre doing? George
says, Come here little girl, and with that she climbs on the handlebars. The crowd
begins screaming and calling George names. Theyre yelling, How dare you?
George begins pedaling across the falls and the crowd is screaming at him. They dont
like him at all. One moment they believed in him, now they hate him.
George pedals across, the crowd sees him turn around, and he gets closer again. The
crowd finally realizes that George and the little girl on the front handlebars are going to
make it. George and the little girl reach the end, the little girl climbs off, and the crowd
3
The Spirit of
an Entrepreneur
When I lost my first business, I lost millions of dollars. Instead of blaming my
accountants, my attorneys, the market, and everybody else, I simply went back to my
investors and said, I want you to know I did the best I could. I apologize. I lost your
money.
Now, all of them were very sophisticated and wealthy investors, so I was expecting
the worst, but they said, Oh, thats good news. I asked, What do you mean it is good
news? They said, We need the losses. Would you sell me your losses? In other
words, because my company had lost money, and it made a lot of money before, they
were going to buy parts of my company just for the losses.
You see, the average person or investor is not aware of the sophistication that goes
on in the financial markets. This is why your education is so important. To them, me
losing money or me making money made no difference because if I made money, they
were going to make money. If I lost money, they were going to make money because
the tax laws allow you to take losses. Its called NOLs, or net operating losses.
My education only really began when I was a failure. The moment I began to work my
way out, my rich dad said, You know, you have a major opportunity here. Most multimillionaires lose three companies. Youve lost one. Youve got two more to go.
The laws of most countries are set up for people to be rich, not for people to play
it safe, to be secure, to do it on your own. The laws are set up for the spirit of the
entrepreneur, the adventurer.
The spirit of the entrepreneur is very important for success, especially in todays
changing world. I did a talk once in Hong Kong, of which Im not too proud. I was
brought in to talk to a bunch of corporate people, and as I stood up to speak, I saw
a bunch of people whose bodies were at work, but spiritually and mentally they had
checked out. In other words, they had sold their soul for a steady job and a steady
paycheck. The people that brought me in wanted me to light a fire under these people,
but I wasnt getting a response talking to them about the spirit of entrepreneurship. So
I told the crowd, The reason it is called a corp-oration is because most people in large
corporations are a bunch of corpses. Theyre dead but they dont know it yet. Theyre
just going through the motions.
Now, people think thats a very harsh way of looking at being an employee. Yet, my
point is that if youre inefficient as a business and you have people whose bodies are
there physically, but spiritually and mentally theyre checked out, then your company is
going to be leveled in todays world. So I say to people, Whether youre the head of the
company, or the lowest member of the company, youre still part of a team.
Todays businesses need to revitalize the entrepreneurial spirit within their
organizations. That means to ask everybody on the team, from the president all the
way down to the janitor, to play to win. One of the most valuable lessons I learned
from Vietnam was that no one is more important than anyone else. If the Private didnt
do his job, then the Lieutenant couldnt do his job. When running or leading a business,
everybodys important. Everybody must have the entrepreneurial spirit and the spirit is
to win.
If you were the janitor and you found one of the managers doing something that
damages the company, then that manager is not just damaging one or two people,
that manager is putting everybody in the company at risk. Somebody stealing supplies
is not just taking from the company. Theyre putting everybody in the company at risk.
A company, big or small, is a living organism. Someone not doing his or her best is like
an infection and left untreated it can kill the entire organism. Its very important today,
in business, for each and every individual to have the spirit of entrepreneurship. This
spirit of change, of new ideas, of revitalization is what keeps a team alive.
If the company starts to suffer, everybody suffers. Thats why I tell people that,
whether you are working for a big company or day one of a startup, play to win every
5
day. Longevity in todays world requires that you have the highest ethics, morals, and
integrity. When you see something wrong, you have to have the ability to call it as it is.
You have to tell the truth with compassion, but with conviction as well.
It takes a lot of conviction to say, I really dont think youre doing your job today. I
dont like it that you come to work and take personal phone calls all day. It damages
all of us. But, a team holding each other accountable is what it takes to win.
Todays marketplace is calling on all of us to call on our spirit of winning. Its not that
somebody has to lose, but you and your team committed to being the best you can
be.
Thinking for
the Long Term
At the Rich Dad Company, while people may get a paycheck, I make sure they receive
education to help them start thinking like business owners. Many times the employee
is overly concerned with the now. They think, I need a paycheck today so I can put
food on the table and keep a roof over my head. Thats an employees mentality. To
think like a business owner, the emotion for success is patiencedelayed gratification.
To be a business owner or an investor, there is a building process. Thats why
investors think for the long term.
The difference is this. Most employees need the paycheck now. Rich dads number
one rule is the rich dont work for money. Employees work for money because they
need money now. Business owners and investors acquire assets that grow and
become more and more valuable with time.
The attitude I have in all my companies is that the people should take very small
salaries with the understanding that were building a company for huge stock options
down the road.
If youre a business owner, I would suggest that you talk to your employees and
your specialists like your accountants and your attorneys about the spirit of the
entrepreneur. Thats how you build and you grow. To do that, your team must trust you
and they must know that youre willing to share the rewards when you win.
Rich dad believed that its impossible to win if you hang onto your excuses. Some
common excuses are:
I cant do that.
I cant wait five years before I get another paycheck.
Invest? You want me to lose all my money dont you?
I dont have any money to invest.
I need more information before I can do anything.
I tried that before, itll never work.
I dont need to know how to read financial statements, I can get by.
I dont have to worry, Im still young.
Im not smart enough.
I would do it if I could find the right people to do it with me.
My husband would never go for that.
My wife would never understand.
I would if I was younger.
Its just too late for me.
Its not worth it.
Im not worth it.
The only reason people lose is because they dont think long term. Instead they have
the emotion and the mindset of a loser.
Change
Takes Time
Now, if youre considering becoming a business owner or investor, I would suggest
taking baby steps. Oftentimes, people want to make huge changes, but its as if youre
out of shape and suddenly decide to run a four-hour marathon. It just doesnt work.
Thats what really discourages people. They try to do too much, too soon, too quickly.
Coming from a family where my mother wanted me to be a doctor, the transition to
becoming a business owner and investor was really a slow transition. It was a mental,
spiritual, and physical change that came over time. It didnt happen overnight.
I remember back in 1974, when I got out of the Marine Corps, I went to a big sales
rally. W. Clement Stone, one of the first motivational speakers, was there. Thats
how I started to change my thinking pattern. I started listening to mentors who
7
The Bottom
Line
Often, what makes people average is themselves.
Living only for the moment, trying to do too much, too soon, and thinking like an
employee all makes for a recipe of disappointment. If youre serious about becoming
more than average and winning at life, take what Ive shared with you in this eBook
and apply it in your life starting today.
The results wont come over night, but they will come. Ive seen it happen to countless
individuals. Best of all, you too will discover the secret to winning has been inside of
you all along.
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