One day his mother's attorney called to tell him...
One day his mother's attorney called to tell him that she had left him $35,000That is what was left of her estate after the attorney and the government took their shares Immediately, he saw an opportunity to increase his business by using some of this money to advertiseTwo months later, his first four-color, full-page ad appeared in an expensive magazine that targeted the very richThe ad ran for three months He received no replies from the ad, and all of his inheritance is now goneHe now wants to sue the magazine for misrepresentation
This is a common case of someone who can build a beautiful hamburger, but knows little about businessWhen I asked him what he learned, his only reply was that "advertising salespeople are crooks I then asked him if he would be willing to take a course in sales and a course in direct marketingHis reply, "I don't chanel cambon purse have the time, and I don't want to waste my money
The world is filled with talented poor peopleAll too often, they're ?poor or struggle financially or earn less than they are capable of, not f because of what they know but because of what they do not knowThey focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburgerMaybe McDonald's does not make the best hamburger, but they are the best at f selling and delivering a basic average burger
Poor dad wanted me to specializeThat was his view on how to be paid moreEven after being told by the governor of Hawaii that he could no longer work in state government, my educated dad continued to encourage me to get specializedEducated dad then took up the cause of the teachers union, campaigning for further protection and benefits for I omega seamaster watch these highly skilled and educated professionalsWe argued often, but I know he never agreed that overspecialization is what caused the need for union protectionHe never understood that the more specialized you become, the more you are trapped and dependent on that specialty
Rich dad advised that Mike and I "groom" ourselvesMany corporations do the same thingThey find a young bright student out of business school and begin "grooming" that person to someday take over the company So these bright young employees do not specialize in one department; they are moved from department to department to learn all the aspects of business systemsThe rich often "groom" their children or the children of others By doing so, their children gain an overall knowledge of the operations of the business and how the various departments interrelate
For the World War II chanel classic handbags generation, it was considered "bad" to skip from company to companyToday, it is considered smart Since people will skip from company to company, rather than seek greater specialization, why not seek to "learn" more than "earn In the short term, it may earn you less In the long term, it will pay off in large dividends
The main management skills needed for success are:

1The management of cash flow
2The management of systems (including yourself and time with family)The management of people

The most important specialized skills are sales and understanding marketingIt is the ability to sell--therefore, to communicate to another human being, be it a customer, employee, boss, spouse or child-that is the base skill of personal successIt is communication skills such as writing, speaking and negotiating that are crucial to a life of successIt is a chanel jewellery skill that I work on constantly, attending courses or buying educational tapes to expand my knowledge
As I have mentioned, my educated dad worked harder and harder the more competent he becameHe also became more trapped the more specialized he gotAlthough his salary went up, his choices diminishedSoon after he was locked out of government work, he found out how vulnerable he really was professionallyIt is like professional athletes who suddenly are injured or are too old to playTheir once high-paying position is gone, and they have limited skills to fall back onI think that is why my educated dad sided so much with unions after thatHe realized how much a union would have benefited him
Rich dad encouraged Mike and me to know a little about a lotHe encouraged us to work with people smarter than we were and to bring smart people together to work as a prada logos te