10 Tips before Quit Job
1. Check your attitude.
Attitude is almost everything. We don’t recommend becoming an entrepreneur just
to make money. There are far easier ways to make money. If you do not love
business and the challenges a business offers, then entrepreneurship may not be
for you.
2. Get as much experience as possible
on five levels of the B-I Triangle. In earlier books we advised people to work to learn,
not work to earn. Instead of taking jobs for the money, take jobs for the
experience. For example, if you want to gain experience in how business systems
work, get a part-time job at McDonald’s. You would be surprised at what happens
the moment a customer says, “I want a Big Mac and fries.” The moment that
happens, one of the world’s best-designed business systems takes over. It is a
brilliantly designed system run primarily by people with only a high school education.
3. Always remember that Sales = Income.
All entrepreneurs need to be good in sales. If you are not good in sales, get
as much experience as possible before you quit your job. I heard Donald Trump
once say, “Some people are born salespeople. The rest of us can learn to sell.”
I am not a natural salesperson. I did train hard to become one. If you want
really great sales training, you may want to consider joining a network
marketing business or a direct sales business.
4. Be optimistic as well as brutally
honest with yourself. In this book Good to Great, Jim Collins
does an excellent piece on this need to be brutally honest. He writes about his
interviews with Admiral Stockwell, one of the longest-held POWs from the
Vietnam War. When Jim Collins asked the admiral which type of person died in
their cells, the admiral answered without hesitation, “The optimists.” The POWs
who did survive were those who could handle the brutal facts about their
situation. On the flip side, know the difference between being brutally honest
and being pessimistic. I know people who will tell you why some thing will not
work even if it’s working. I know people who store in their mind every piece of
negative news possible. Negative people, or pessimistic people, are not the
same as brutally honest people.
5. How are you at spending money?
Too many people struggle financially because they do not know how to spend
their money. Too many people spend their money and it never comes back.
An entrepreneur needs to know how to spend money and have more money come back.
It is not about being cheap, tight, or frugal. It’s about knowing when to
spend, what to spend on, and how much to spend. I have seen too many
entrepreneurs go broke saving money. For example, when business drops off,
instead of spending money on more promotions the entrepreneur cuts back hoping
to save money. When this happens business continues to drop off. This is an
example of the wrong action, at the wrong time.
6. Start a business to practice on.
No one can learn to ride a bicycle without a bicycle and no one can learn to
start, build, and run a business without a business. Once you are familiar with
the difference parts of the B-I Triangle, stop planning and start doing. As I
have always said, “Keep your full-time job and start a part-time business.”
7. Be willing to ask for help.
Rich dad often said, “Arrogance is the cause of ignorance.” If you don’t know
something, ask someone who does know. One the flip side, don’t be a pest and
ask for too much help. There is a fine line between help and a crutch.
8. Find a mentor.
Rich Dad was my mentor. I have had many other mentors. Read books about great
entrepreneurs such as Edison, Ford and Gates. Books can be your best mentors.
The Rich Dad Company has a mentoring program known as Rich Dad Coaching. The
coaches on the other side of the phone are entrepreneurs, investors, and great
coaches. Hire them to keep you on track to getting what you want from your
life. One of my favorite entrepreneurs is Steven Jobs, founder of Apple
Computer and Pixar. Not only do I like his style, I love the culture of his
business. One of the most important things an entrepreneur can build is a
business with a strong culture. As stated earlier, at the Rich Dad Company we
work hard to foster and protect a culture of learning and free expression
9. Join an entrepreneur’s network.
Birds of a feather do flock together. Every city I have ever lived in has
groups or associations of entrepreneurs. Attend their meeting and find one that
fits your needs. Surround yourself with fellow entrepreneurs. They are there
for support as well as to be supported. Contact you SBA, the small Business
Administration, or your local chamber of commerce for a schedule of meeting and
seminars. They are great sources of information as well as resources for
entrepreneurs. One group I have been impressed with the YEO, the Young
Entrepreneurs Organization. Although I am too old to belong to this group of
young men and women, I have been asked to speak at several of their chapters. I
have always been impressed with the quality of young person this organization
attracts.
10.
Be
faithful to the process. One reason why many people do not
quit their jobs and become entrepreneurs is that entrepreneurship can be
extremely challenging, especially when first starting out. I suggest you follow
the basic of the B-I Triangle and diligently do you best to master all eight
categories of the triangle. It takes time, but if you are successful the rewards
can be immense. As rich dad said, “Entrepreneurship is a process, not a job or
profession.” So be faithful to the process and remember that even when times
are bad, the process will give you a glimpse of the future that lies ahead.
Over the years I have many people use the term BHAG,
which stands for Big Hairy Audacious Goal. While having a big hairy goal is
commendable, I believe the process and the size of the mission are more
important than the goal.
Rich dad drew for his son and me a diagram that
looked like this:
Mission Process Goal
He said, “If you are going to have a
big goal you need a strong mission to push you through the process. With a
strong mission, anything is attainable.”
By:
Rober Kiyosaki
Sharon
Lechter
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