Entrepreneurship as Described in Robert Kiyosaki’s, "Rich Dad, Poor Dad", and Blake Mycoskie’s, Start Something that Matters

What does rich mean? Everyone says that they want to be rich but what does that mean? Does everyone just want lots of money or do they want to have everything they need? The meaning of rich changes with every person because everyone has different values. A person in the city might think rich is a penthouse apartment while someone living in a rural area might think having ten donkeys makes them rich. In Kiyosaki’s book Rich Dad Poor Dad he talks about how if your assets make you enough money to cover your liabilities then you don’t need to worry about a job, so that could be a way someone could feel that they were wealthy. Yet, in Mycoskie’s Start Something That Matters he describes how amazing it is to give back to people so that could be another form of being wealthy. Even though the authors had two very different ways of making money and different ideas about certain aspects of business, they both became prosperous entrepreneurs.

One of the things that Kiyosaki and Mycoskie both mentioned in their books was that you should always give back to others. This directly disagrees with Milton Friedman who says that “the only social responsibility a business has is increasing its profits”. Milton Friedman may have had a different approach then these two men because according to econlib.org he has a strong background in economics with a PHD and a nobel price, but not much experience or education on entrepreneurial ways of making money. Kiyosaki focuses on financial literacy but often mentions the importance of the social responsibilities and how even if you don’t have much, you should still give back. Mycoskie knew the importance of social responsibility from the beginning of his story and in the making of TOMS. I think Kiyosaki and Mycoskie would both disagree with Milton Friedman's ethics and agree with each other that there needs to be much more than profit in business.

Being rich is what everyone wants to do but they always try to make more money doing there career and not by working in other ways. Learning to do multiple things instead of just your career is one of the things that Kiyosaki suggest to do in his lessons, so if you decide to do this then making money might be easier. If you don't know how to do things like sell or market then it’s going to be very difficult to sell or branch out a product or idea. Kiyosaki also mentions overcoming obstacles in his book, if you run into an obstacle and you decide to move past it then you will become a much stronger person in business and you won't regret quitting when things get tough. If you learn to overcome problems that face you in business then it’ll make it easier to be wealthy.

Kiyosaki’s key concept in his book is the idea of financial literacy, or having money work for you. It’s very eye opening to read about this idea that instead of working for your money that it can work for you instead. If you learn to invest in your assets and make them grow in things like investments and stocks, then you can choose to work or not because your assets will be able to cover your liabilities. It’s very interesting to learn about the way Kiyosaki handles money after growing up with surrounded by the lower class who always say go to school and get a good job, whereas Kiyosaki says that the most important education is financial intelligence. Mycoskie’s whole book is about starting something that will give back to others and that you believe in what you’re doing. When Kiyosaki talks about getting started he mentions to find a reason beyond reality to work towards, using your emotions so that you can believe in what you're doing. Something else in Kiyosaki’s getting started is that you should be an Indian giver which is exactly what Mycoskie does with TOMS, you give without expect to receive anything back in return.

A business with a component of giving is a big part of Mycoskie's book and in his work with TOMS. There are different reasons to give back and many ways to do it. There are things that I learned from Mycoskie that I would use to have a business that gives back. Things like BOGO where every time someone buys something then the business gives something to someone in need, or when someone buys something and a percentage of the price is given to charity are things that many business already do that are mentioned and that I would do to give back. Something else I would do would be to work in the community and build new things because if you do things for the community, then the community will recognize you as a person worth helping and might even buy your product or tell someone about your product and by word of mouth you will make more sales than you might normally. It will also help you network in your field of business and market your product because people higher up than you or people that can help you do better might see what you are doing and decide you could be an asset to them and their business. Since there are many different ways to give back and it’s fairly simple, I feel like every business should do it because not only will it help them grow socially but also financially.

The most important thing I have learned about success from these two books is that you should always give back. Giving back to others can not only make you and others feel better but make you more successful and wealthy. If you give back to others than others will want to support you and buy your products. It’s easier to be passionate about what you’re doing if there is a good story and reason behind why you are doing what you are doing. If you’re passionate about it than there’s a good chance that other people will be passionate about it also and decide to help you make your product better. Giving back in these books is very important and I fully agree with that and think more people should. As long as you are giving back and helping others then it doesn’t matter what you’re trying to sell or the type business because you and other people will be invested into it and it won't feel like just a job.