‘If you aren’t practicing and playing to be first, then maybe you shouldn’t be an entrepreneur.’ These are quoted by Robert Kiyosaki, well-known author of Rich Dad, Poor Dad series of motivational books about business and financial literacy. Indeed, being an entrepreneur entails more than having enough financing or capital to begin a business, rather it involves risks, thus the need for due preparation and careful planning and execution.
To be a successful business owner, one should have the creativity, the attitude, the character, and the passion. One should be aware of the risks of going into entrepreneurship and also have the character to delay gratification until he or she gets the reward or return on investments. A true entrepreneur should also have the talent, skills, knowledge, and passion to successfully operate the business. Entrepreneurship will most certainly lead to unlimited opportunities to make money as opposed to becoming an employee that offers fixed salary on a given period, say monthly. The time and effort you exert into your business will determine how much money you will earn accompanied by you delivering the right product or service to the right market at the right time. This way, you have a better grasp of what you want to achieve for your business and set goals for future.
By establishing your own business, you are also able to enhance your ability to overcome challenges and difficulties, after all, you are your own boss. You are able to learn how to secure and manage resources at the same time that you are also able to help others by employing and providing income to augment their finances as well. An enterprising culture is also developed as you hand your business to your family or children making them self-sufficient, thus contributing to a self-sufficient community as well. Finally, let me end this article by another quote from Mr. Kiyosaki regarding financial freedom, ‘People who refuse to open their minds to new strategies seldom become rich, which I guess is why there are more critics in the world than rich people.’ Enough said.
In his book, Retire Young, Retire Rich, Robert Kiyosaki’s rich dad quoted, ‘All debt is good debt. But not all people know how to use debt, so they turn good debt into bad debt.’ Explaining further, Kiyosaki said that most people know how to get into debt, but the problem is they get into debt and get poorer. He pointed out that debt can be used as a leverage to be financially free, but most people do not know how to use debt in their favor.