The book “Business School” is written by “Robert T. Kiyosaki“, a millionaire investor, business owner, teacher, and speaker. In this best-selling book, Robert Kiyosaki tells about ten (10) values of network marketing business which are much more than just making money.
Robert Kiyosaki explains that this business is a way to create wealth, it allows any person to create wealth, and it is open to every person who moves forward with complete determination and wants to grow.
So, in this article, I will summarize and review the book, so that you can make a better purchasing decision and invest your time in reading something worthwhile.
When Robert Kiyosaki was 15, he started spending time with his best friend’s dad. He started his life from zero and had no formal education, but he became one of the wealthiest men in Hawaii.
His friend’s father taught Robert Kiyosaki how to become rich. That’s why Robert used to call him “Rich Dad.” Robert Kiyosaki also wrote a book on the learnings given to him called “Rich Dad Poor Dad”, one of the best-selling books to date.
Robert’s Rich Dad always said that if you want to become rich, you should become a business owner or an investor. But school does not teach you how to become a business owner or investor.
Robert Kiyosaki’s Rich Dad explains that Thomas Edison did not just discover the light bulb. Still, he understood how to turn the bulb into a business, which took his invention to millions of people.
Thomas Edison was not just an inventor but the owner of many companies like the Electric General Company. Thomas Edison was a college dropout, selling candies and magazines on the streets. Then gradually, he started working on his selling skills, slowly printing newspapers behind the train.
Then he hired a team of some boys to sell his newspapers and candies. And in this way, at a very young age, he turned from an employee to a businessman who had hired a dozen boys. Then he learned the work of codes for the job of a telegraph operator, and gradually he became the best telegraph operator.
As a business person, he understood how important it is to create a system. According to him, the System was more critical than the invention because, without the electricity network, the light bulb would not have a lot of value.
There is another word for System, that is “Network.” To become rich, you must understand the network’s power. All the rich men build networks, and everyone else is trained to find work.
Having a system and building a network makes people rich. There are many ways to become rich, but ultra-rich people create networks.
John D Rockefeller became one of the wealthiest men in the world by building a network of gas stations, delivery trucks, ships, and pipelines. Alexander Graham Bell invented the telephone, which later became the telephone network and became famous as AT&T. Then came the radio and television networks.
Whenever a significant invention happened, those people who had their network or who built their network and supported that invention became the richest. Many high-paid stars and sports athletes are wealthy because radio and television networks have made them rich and famous.
Rich Dad said that history is full of such examples as when the train was invented, many people became wealthy. The same happened in airplanes, ships, cars, retail stores, and Walmart.
I take the example of Bill Gates, one of the richest man in the world, who has become wealthy by investing money in IBM Network. He reached the heights of beatless success because of radio, television, and record store network.
The Internet, the most recent network in the world, has also given the world many millionaires and even billionaires.
Feathered birds come together, which means humans live with people like themselves. It can also be understood that rich people make networks with rich people, and poor people network with other and more poor people.
So if you want to become rich, you have to do networking to help you become more affluent. But it is a challenging task to build your own business and convince people to have the power to do your network.
According to Robert Kiyosaki – If we want to be financially free, we should have three types of education which are – academic, professional, and financial.
Academic education teaches us to read, write and do maths; business education teaches us to work for money, and financial education teaches us how money works.
If our financial education is poor, we will work for rich people. How money works for us If it is not learned, we will have to work for money.
Building your business is the best way to become rich. Once the company is strong, or the cash flow is there, investing in other assets can be considered.
Other ways to get rich
- A person can become rich by marrying another person for money.
- A person can become wealthy by fraud.
- You can become rich by being greedy.
- People dream of becoming rich even by doing cheap things.
- A person can become wealthy even by working hard.
- One can become rich by being intelligent, talented, brilliant, or attractive.
- Only by luck sometimes can one become rich.
- One can also become rich by building a business.
- Building a network marketing business is one of the newest ways to become rich.
This is a new and revolutionary way to become rich. This is a setup that gives the possibility to share wealth with anyone.
Network marketing businesses can also be called personal franchises or invisible extensive business networks. This new form of business is like a revolution because it allows sharing a property only for a few selected people for the first time in history.
There are many controversies regarding this business, and many people want to earn money quickly by fraud in this type of business.
But if you try to understand this business properly by taking a step, it is a socially responsible system of sharing wealth. This is not a good business for greedy people.
According to the design, this is the best business for those people who want to help people. This is also the only business where you can become rich yourself by helping others to become rich.
It is as revolutionary as Henry Ford’s or Thomas Edison’s invention, but yes, this new form of business is only for some.
If you want to help others achieve their financial goals, this business suits you. This is the best track to becoming rich because this business is a business school. If helping others is not your tea, you can choose any of the methods mentioned earlier.
Robert Kiyosaki explains that in 1990, when he started understanding this industry with an open mind, then his ideas for this industry started changing.
He started seeing things in this industry that a narrow minded could never understand. He saw a lot of positive things instead of negative ones.
He says there is some negative thing about this industry, but there is something negative in almost everything in life.
It is also true that many people, losers, or people who dream of getting rich quickly without hard work, are very attracted to this business because this industry gives an open policy to the people in which anyone can start it.
But the good thing is that the sector provides people with equal opportunities to create wealth. Robert got a business for the first time in which deep care or love for people is hidden.
Robert Kiyosaki says I support this business because some companies work with great compassion. If you stick with the business, the company stays with you. And some network marketing companies give the possibility of equal opportunity business.
Life-changing business education
Robert says there is no doubt about the massive earning potential of a network marketing business, but I recommend something other than such a business just for the money. Robert says the biggest reason for recommending this business is its “system of education.”
From the company’s compensation and products, it should be seen how much a company is interested in learning or training you. Skill makes us rich and not theory.
That’s why Robert named this book Business School for those who like to help people because network marketing business, real-life business school works for those who want to learn fundamental world skills to become an entrepreneur.
Some great teachers know this business because they do not learn from theories but from their experience.
Many people are stuck in the old education plan only. Traditional education planning teaches the fear of making mistakes which eventually turns into the fear of failure.
In school, we all have been punished for making mistakes, due to which we are afraid to make mistakes, but those who make many mistakes in life and learn from them, move forward in life.
We must understand that mistakes have taught us to move forward, whether learning to walk or learning to cycle. Many people lie when they do wrong because they are emotionally scared of themselves. Robert says, “I have a lot of money not because I am academically bright but because I made a lot of mistakes in my life, accepted the mistakes, and learned a lot from my mistakes.
Best network marketing companies encourage people to learn something new, take action, make mistakes, understand, and improve; this is called real-life education. But unfortunately, many people cannot find a rich person in themselves because the poor person inside them thinks that making mistakes is bad.
Friends who pull you up won’t push you down
Many people understood and liked this business and wanted to change their financial situation. Still, their biggest problem was that if those people started a network marketing business, what about their friends and family?
Some people like business, but they think everything is so good whether it is good or not. Many people are just cursing at their jobs day and night or are very upset with their careers; these people are stuck in a quadrant of the cashflow quadrant.
Such people are ready to change their quadrant, but unfortunately, they change their job instead of changing them.
The cashflow quadrant means E/S/B/I, in which E means employee, S represents the self-employed or small business owner, B means business owner, and I means investor. So whichever quadrant our income comes from, we are part of that quadrant.
Different quadrants, different values -
Each quadrant has a different value of its own. For example, the core value of the E quadrant is “security.” You will always hear people in this quadrant say – “I need a right and secure job,” “how much do we get for overtime,” and “how much do we get paid for vacations.”
The core value of the S quadrant is “freedom.” These people want freedom, and they want to do what they like. Most of the people in this quadrant are small business owners etc.
People of the S quadrant wish to be the best in their field. If the people of this quadrant stop working, their income also stops.
The people of the B quadrant look for people who are the best in their field and can work in their team. When it comes to money, the people of the B quadrant keep earning even if they leave their businesses.
And finally, the logs of the I quadrant are financially free. Money works for them, they don’t work for money. So the people of these four quadrants are different, they have different mindsets, and their values are also different.
Network marketing businesses fall into the “B” quadrant. This business is for those who want to be a part of the B quadrant. Due to the unlimited income potential, it is placed in the B quadrant while the income of the E or S quadrant is limited.
If your business becomes very big, you can move from the “B” quadrant to the “I” quadrant.
Those who choose a network marketing business live with many benefits because this business gives them the support of like-minded people with the same core values belonging to the B quadrant.
Network marketing business is challenging to understand because very few people in the “B” quadrant are successful. Most people choose the “E” or “S” quadrant because of their school and family values. 80% of the population is in the “E” and “S” quadrants, 15% is in the “I” quadrant, and barely 5% is in the “B” quadrant. Many CEOs also fall in the “E” quadrant, not the B quadrant.
For example, Jack Welch, a former CEO of General Electronics and a great leader, was still an employee of General Electronics. At the same time, Thomas Edison, the company’s founder, and the owner, had left college. That’s why sometimes people get this opportunity; even then, they need to understand how big a chance they have.
But this is a journey to change quadrants; there is no rich quick scheme, so this journey may take a few years because it takes at least five years to understand the process of any business.
Some people leave the business due to a lack of success in the initial stage of starting a business, but winners are always ready to make mistakes and keep on learning from those mistakes.
What is the value of a network?
In 1950 a new type of business became very famous: a franchise.
The renowned name in the franchise world is McDonald’s. Some people even called it illegal initially, but today McDonald’s franchise is in the big country to very remote places. The franchise is a business network comprised of multiple owners working together. In 1970, another type of network marketing business started gaining momentum.
Today this business is known as a network marketing business. This business has also been criticized a lot, but the speed from this industry, franchise, and traditional businesses are increasing continuously.
Many people need to see the rapid growth of this industry because, in most cases, it is an invisible business that does not have large sign boards like McDonald’s and Starbucks. It is hidden because it is virtual, so this business is mainly criticized by those not doing business.
In this business, we have to make people like ourselves, and our economic value will double as soon as they become like us. That’s why the success here in working hard comes not arithmetically but exponentially.
Many people found it sensible to start this business because it does not require lakhs and crores of money to do old-style business, nor does it need lakhs to buy a famous franchise. Instead, doing this business with excellent training at a meager cost is a much better idea.
To do this business, you need to open your mind because this business is increasing all over the world. The future of this industry is perfect because this industry gives you a chance to control your life and take your financial future into your hands.
Even if the old-thinking people refuse to see the growth of this industry, but still this industry will continue to grow with time.
Developing your most important business skill
The ability to sell anything is the number one skill of any business. Selling ability is the most critical skill of B quadrant business. If you can’t sell, then forget about becoming a business owner.
We are all born with the talent to sell. In childhood, when we wanted something, we started crying; it was part of selling. In childhood, when we want something, we go to the father, then to the mother, and if we do not get that thing, we speak to the grandparents. As we grow up, this anything-seeking attitude gets lost somewhere.
Why is it important to have sales potential? How is this an essential skill in the B quadrant?
The answer is – the more we sell, the more we can buy. If you want to buy something, you have to deal with something first. That’s why selling is the number one skill.
Poor people are also flawed because they cannot sell or have nothing. The same is the case with developing countries. No matter how many goods are being made in a business, that too will be closed if there is no selling. Companies that are struggling financially primarily because their leaders are unable to sell.
Many people are brilliant, but they need better communication to move forward. Selling is in every aspect of our life. But unfortunately, the world is full of imperfect people because they don’t know how to sell themselves, they don’t know how to communicate, they don’t know how to refuse their fears, and they don’t know how to stand up and move on after failing.
If we want to become business people, we must improve our selling skills because the more it is, the more prosperous we will become. Everyone is selling something or the other.
When you apply for a job, you sell your professional skills; when you go home, every item in your house, whether it is frozen, a bed, sofa, television, and anything else, someone has sold to you.
Politicians are the biggest salesmen; the best teachers are the best salespeople. People are poor, unsuccessful, and lonely because they have failed to sell somewhere.
Whenever there is fear in us, our confidence and doubts get stronger—learning to sell means defeating your inner fear. The unique thing about network marketing business is that it gives you a chance to face your fears, deal with them, overcome them and bring out the winner inside you.
The beauty of this industry is that when you are learning, the leaders of this industry have a lot of patience to work with you, but in the business world, if you cannot sell within three to six months, you are fired.
Only those people who are afraid of rejection do not want to sell. But in history, the most successful people in the world were rejected the most. So we should follow a formula in our life: Rejection and Improvement = Education and Acceleration. Education starts with rejection because we get a chance to do things better or differently next time.
According to Rich Dad, there are leaders in every quadrant. To be successful, it is optional to be a leader in E, S, or I quadrant,, but to succeed in the B quadrant, we must be a leader.
Leadership skill is not optional in this quadrant. In a business with the best products and services, money does not come there, but only cash comes in a company with the best leader and management team.
The way network marketing businesses provide training is their biggest specialty. This training- education, time, and opportunity to develop our most extensive “leadership skill.”
The management skills for E and S quadrants are very different from leadership skills. Managers are not necessarily leaders, and leaders are not necessarily managers.
However, some network marketing companies are among the best business and leadership development programs and provide life-changing business education. These businesses make you a good teacher leader, influences others, and teaches others to fulfill their dreams.
Not working for the money
People choose to work for money and not wealth. Wealth should never be counted with money but always measured in time. For example, if there is a savings of Rs 1000 and our day’s expenditure is Rs 100, then our assets are ten days. If the cost is Rs 50, then the wealth is 20 days.
Health or wealth is always according to time. Money comes in two ways: one is property, and the other is labor. To be rich, you must work for the money that comes from wealth.
But if you want to work hard for your whole life, then work only for cash, as most people do. Rich Dad says our financial statement is like our school report card, which tells our financial IQ.
People in the “B” and “I” quadrants work on building and growing their assets, not money.
Emotional intelligence is vital for financial intelligence. To become rich, emotional intelligence is more important than cognitive intelligence. High financial IQ comes from high emotional IQ. “Warren Buffet” has said – “The person who cannot manage his emotions cannot control his money either.”
The unique thing about network marketing is that it helps develop your emotional IQ. Your emotional IQ increases whenever you deal with people who leave and lie.
You become a better person even if you want to overcome your fears, frustrations, and impatience. This business teaches you to talk to people quickly and handle people’s emotions effectively, and your company also starts growing when you do this better.
With patience, you have more chances to become a better investor. If you do business in your spare time in the next 3-5 years, your financial future will be better than those stuck by investing money in job security or mutual fund.
Living your dreams
A lot of people don’t have dreams because dreams need money. The great value of network marketing companies is that they insist on fulfilling the dream.
Our friends or family sometimes innocently or sometimes intentionally kill our dreams. Those who have given up on their goals mainly kill the dreams of others. Rich Dad believes that it is not necessary to become rich or buy a big house, but the person we become in purchasing a significant home is significant.
Marriage and business
In Network Marketing BUS Business INESS, many couples build a business together. This business is perfect for those couples who want to do business together for some reason. These reasons are:
- This business can be started together part-time.
- You can work according to your schedule.
- It helps industry families together.
- In this industry, Most of the successful people are couples.
- These businesses provide education for couples to grow and learn together.
Some of the primary benefits of network marketing business are –
- It can be started at a low cost.
- It does not require any formal education or degree.
- These industries are equally open to all, regardless of age, gender, and race.
- Companies are already providing established and successful systems that you can use to build your business.
- Some companies provide excellent training and education so that you can become successful.
- In this, your mentors are successful people from the industry ready to assist you in your journey.
- By starting this business part-time, you can BUILD with your job.
- It gives you a lot of tax benefits as a business owner, which you cannot get as an employee.
The most significant value of this industry is – it brings you closer to your family. There are many successful families in this business. Some of the qualities of the families involved in this business are –
- They are all family focused
- They understand the value of spending time with family
- Children understand the benefits of their industry as well as their parents
- They do more family vacations and business trips
- Children learn passive income and financial education at an early age
- Children choose to be part of the business of their own free will
- In Most parents, one parent builds a full-time business, and the other with his job
- The nature of this industry is to promote family togetherness and unity
The most significant gift of network marketing business is that we can build a business, not for our family, with them. The more successfully we spend with family, the more time and freedom we will have.
So, that was all in this book. Hope you would have learned the pearls of wisdom to implement in your life.
Business School Book Review
While reading Business School, I constantly reflected on my financial journey and reassessed my approach to money. Kiyosaki’s unique perspective challenged my preconceived notions and sparked a desire for lifelong learning and self-improvement in finance.
If I were to offer any critique, it would be that the book occasionally veers into repetition, reiterating certain points multiple times. However, this repetition also reinforces the core messages, which may benefit some readers who prefer reinforcement.
In conclusion, Business School is an eye-opening and motivational book encouraging readers to think differently about money, business, and wealth creation. Robert T. Kiyosaki’s insights and practical advice make this book a valuable resource for anyone seeking to break free from the traditional path and embark on an entrepreneurial journey. I highly recommend it to aspiring entrepreneurs and individuals looking to enhance their financial intelligence.