No plan ever survived the enemy All your assumptions will be wrong Ego is the Enemy The Lean Model of business The Minimum Viable Product If you’re not embarrassed by …
Rich Dad Poor Dad by Robert Kiyosaki teach us we either work for the rest of our lives chasing paychecks, or building assets that make money while we sleep.
The key lesson that Kiyosaki teaches is the difference in the world views of the two Dads and of Financial IQ. His real, Poor Dad, was a successful university lecturer. He had a stable job for life with benefits. He was educated with impressive qualifications. He sought stability and comfort, never taking risks. Yet, he spent his life bouncing from paycheck to paycheck. He was never able to call himself “financially free”.
The system doesn’t teach us about money. Sure enough, they are happy to lend money and give us credit cards but how many people actually know what they’re paying on that borrowed money? The reason why rich families stay rich isn’t so much the transfer of wealth or opportunity to successive generations but what the parents teach their kids about money. Schools don’t teach us about money.
Rich Dad Poor Dad is the missing lesson in Financial IQ.
The 4 Hour Workweek by Tim Ferriss opened the floodgates on the whole location independent, lifestyle entrepreneur scene. By asking “What if?” and building an effective, efficient and noise-free location independent business, a whole generation of business owners have been empowered to go pursue their passions.
Socrates called happiness “the goal of goals”. Everything we do – building businesses, earning money, helping charities, traveling the world, recording music. Whatever it is, it comes back to happiness. For us and the people around us that count. So, with that in mind, why do we build lifestyles where we are so busy that happiness becomes a bonus rather than our focus? As a Lifestyle Entrepreneur, I’ve tried to step outside the Cubicle and learn how to create a lifestyle that puts happiness at the top of our needs pyramid. Then, and only then, engineer a business that makes that happen. This is what I’ve learned.
This is a work-in-progress document containing my answer to the question: what is a lifestyle entrepreneur?
Along with The 4 Hour Workweek by Tim Ferriss and The $100 Startup by Chris Guillebeau, The 7 Day Startup by Dan Norris is one of the 3 key books that defines the business philosophy and strategies of the Lifestyle Entrepreneur movement. The key message from this book is that “You don’t learn until you launch”. All your assumptions about your business will be wrong, so focus less time on asssuming (planning and testing) and more time on shipping (getting your product into the hands of a paying customer).
This week I’ve had the privilege of meeting a number of entrepreneurs who recently made, or are in the process of making, the transition from salaried life to starting their own business.
They remind me that the decision to become a player rather than a spectator in the game of life is tough. You face fear, rejection, doubt and ridicule every day. But, ultimately, each of their stories of change is a story of growth and personal transformation. Each is inspiring because stepping outside of your comfort zone is often the hardest decision you’ll ever make.