BEFORE YOU QUIT YOUR JOB - R. KIYOSAKI

If you have been contemplating long and hard to become an entrepreneur and have taken some steps in preparation for the journey (like attending a course) this book is a must read for you. Both Robert and co-writer Sharon are both experienced entrepreneurs who have experienced both failures and success and shares with us 10 valuable lessons an entrepreneur should know in setting up a successful business. Robert credited Sharon as the 'A' student CPA and her businesses are more successful than his.After reading this book, the main lessons I have identified are:

-Employee Vs Entrepreneur: The differences in the thought process and behaviour of each are illustrated.

-The B-I Triangle: Rich Dad taught Robert the importance of building a business using the B-I Triangle. The five main factors that need to be considered are Product, Legal, Systems, Communications, and Cashflow. If one or many of the factors are weak, the company will be weak, the management needs to be aware of this weakness and strengthen them. Encompassing the five factors are Leadership, Team and Mission.

-Mission: The Company with the stronger mission and everybody in that company working for the same mission will succeed. Robert gave a compelling narration of his stint in Vietnam during the Vietnam War where the North Vietnamese who had a stronger sense of mission had more hunger to fulfill their mission. The Americans fought alongside the South Vietnamese against the North Vietnamese (Vietcong) which we all know suffered heavy losses.

-Building a team: A good entrepreneur knows it is impossible to be good in all aspects of operating a business. They need to surround themselves with people who are smarter than them to fulfill the other roles of creating a profitable business. These people can come in the form of employees or partners.

-Making mistakes: Entrepreneurs are supposed to make mistakes and learn from them. Employees dislike making mistakes as it affects their morale and performance appraisal.

-Know your customers: It is wise to retain your good customers and fire your bad customers. You have to let go those customers who always look for cheap bargains and do not know the true value of your goods. In order to find good customers, you need to match the product and the price to suit the customer's needs, wants and ego. In numerous cases, it's the customer's ego that take precedence over wants and needs. So before you quit your job, this book is a must read for all you would-be entrepreneur. The lessons in this book are invaluable and will help you to avoid the costly mistakes which 95% of all new entrepreneurs will make. Hurry, run to your nearest bookstore and get it now!