Tag: Rich Dad Poor Dad

Where Are You Financially? 💰

Posted on by brianjpombo

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How does money flow into you and your company?

Transcription

Where are you financially?

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

This is a show and I apologize about my hair, I was wearing a baseball cap all day, and never quite got everything to lay back down. But it’ll be my hair will be better tomorrow, okay.

So that what we like to talk about on this show is business concepts and ways to be able to use your business, to change your life and make it better and make it make other people’s lives better because of it.

And so if you’re thinking about that, the best thing to do is to always bring things back to principles.

Yesterday, I talked about the difference between principles, strategies and tactics, you can go back and watch that if you want to be caught up the day before that talking about kind of the primary fundamental principle necessary in order to move your life forward.

Especially if you’re thinking in the business mindset. It’s really the foundational principle of all of Western civilization, and so what brings that back up to today?

Well, I’m going to, I’m taking you on a little bit of a journey. When it comes to principles, I wanted to start off with some of these definitions. Because we got common vocabulary we can use, that we can get a whole lot further because these are, these are definitions and words that don’t necessarily use this way you weren’t taught them in school and the same function.

I’m taking great Liberty with some of these ideas. In fact, I’ve had people come back to me saying, well, that’s not what common sense means and everything, it I’m using different definitions for college common words and phrases that you may have heard before, and using them in a very specific way.

So hopefully, we can talk about the definition, the meaning behind these things and not get caught up with the words that I’m using, because then everybody’s going to define these things differently over time.

And nothing is more true than what I’m going to talk with you about today, and I’ve discussed this before, and you’re probably already familiar with it, but it’s a good thing to bring up again because I I’m always amazed how many people I run into that are not familiar with Robert Kiyosaki cashflow quadrant.

Now, why would I be bringing up this idea tonight, when it comes to principals, two main reasons.

One, we’re going to talk about definitions and some words that we’re going to be using over and over again, and we’re going to be using them in a different way than you’re probably used to.

Two, this is one of those things that if you’re going to define where you’re going, you need to know where you are.

And when it comes to business, we’re talking about financial nature, initially, because it has to do with you as a person. Now, I work with two different types of people in my business.

One is a person that’s a business owner that’s been a business owner that’s successful, that’s moving forward, or an executive that is running the business.

They’re moving forward, and they already have a successful business, but they’re looking to take it to the next level.

The other type of person I talked to a lot is a person that’s either hasn’t owned a business or is looking to go into a new field, and is looking for the end result, and doesn’t really know where to go next.

They know what they want out of life, but they don’t know how to get there. And so these are the two different types of people I deal with.

Either one can find themselves in a place where they need to come back to some of these principles. And first, you have to define where you are before you can define where you’re going. We’ll talk tomorrow about where you’re going, but let’s talk about where you are.

Okay, this is an idea that Robert Kiyosaki introduced called the cashflow quadrant and he says that if you’re making money on a regular basis, you’re making it out of one to four different places.

Okay, you’re either making money as an employee. That’s the first one employee employees defined as a person that works for money based on the amount of time that they put in now they could be salaried, but either way, they’re trading time for money.

They stopped putting in the time, they stopped making the money. It’s direct money for time, associated with the amount of money that’s been made.

Most people are either there or they’re in this self-employed and how he defined self-employed is you’re still tied to time for money.

So as soon as you could be self-employed and be making a whole lot of money, but as long as you’re not putting in the time, that money doesn’t come in, so this could be $1 that owns their own practice, this could be a lawyer that owns their own firm.

And if they don’t have anyone else there, they’re the only ones that are making it happen. It’s not going to happen if they’re not there.

So 90-95% of everybody is out there. In a free-market economy, if you’re making money on a regular basis, and you’re not getting a paycheck from the government, this is directly related out there on the free market.

95% of people are making their money either as an employee or self-employed or hybrid of the two. The next level is a business owner and this is one of the things I say about definitions.

The way Kiyosaki defines a business owner is a person that owns a business that they are not self-employed with. So that business can’t exist outside of their time.

Now, it doesn’t mean that they don’t add to the business, it doesn’t mean that they can’t make the big business bigger, it doesn’t mean that they don’t spend time in the business, it means that the amount of money they’re making is not tied to the amount of time that they’re putting in.

So they can go off on vacation, they can come back and they’re making the same amount of money, it’s not tied to a time-related deal.

That this is a person that truly owns a business, that’s an asset that’s producing on a regular basis outside of what they put into it.

Then you have the investor.

An investor is a person who takes money, puts it into a system, like a business, like one of these own businesses, they put money into a system that already exists, and makes money back purely based on that, once again, it’s not a time-related thing.

So there’s a major difference between ends. So you have about 5% 5-10 percent of everybody that’s over on this side, most of the people are here.

Very few of the people are over here, most of the money is made on this end, most of the wealth that’s created is graded on this and where it is not on this end, only a 5% 5-10 percent of everything is made over here, the real production happens on this end.

So what’s the difference between somebody who’s at one end or the other education, intention, whether they’re a person follows through and actually builds a business or finds investments that they could put money into and has the money has the capital available to do it.

It’s a whole lot of its education because we’re not taught in school that you have a choice.

But you do have a choice that sees the first that says, see my first video on the principal, you have a choice on where you can be.

But it takes a different way of thinking. And it takes you knowing that the choices are there. If you don’t know the choices are there, then you don’t have a choice.

Once you know the choices are there, now you do hopefully you can see that there it’s available. Now you have a choice.

Now you have the ability to do it as long as you know, who to talk to how to go about doing and so forth.

Part of what I do, if you’re a business owner that’s already successful, if you’re an executive that’s already moving forward, and looking to take things to the next level.

This is one of the best options you have is my book, 9 Ways to Amazon-Proof Your Business. You can get a free copy at AmazonProofBook.com.

This you got to decide where you’re at and where you want to be. And if you want to be somewhere different. We’re going to talk about that tomorrow.

So come on back tomorrow and we’ll go over that.

In the meantime, get out there and just let the magic happen.

Should I Own A Business? 🤔

Posted on by brianjpombo

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Jobs are available like never before and yet people are still not going back to work.

Thoughts on starting your own business and a few books to checkout if you’re looking to go that direction.

Transcription

Should I own a business?

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

This is a question I get often is, should I own a business?

Maybe it’s other people asking me. And yeah, I think it’s a question on a lot of people’s minds right now.

A lot of people, you know, due to the fact that there’s a lot of options out there for employment.

But have you wondered why so many people were at home?

Well, yeah, we’ve talked about it before, obviously, the fact that unemployment has been extended, and a whole lot of other benefits have been raised, that would allow a person to stay home more comfortably than ever before. I mean, that absolutely helps.

But there’s also, I’ve found in talking to the people that have not gone out and gotten a job, that there’s a huge dissatisfied faction with working in general, as an employee.

And if you’re a business owner, like me, you know what that’s like because it’s a reason why you’re a business owner, in many cases, is that you just like that better than having a job. And pretty simple to see that.

So if you’re in that situation, or if you know somebody that’s in that situation, then you might want to pass this video on to them. Because it’s a good thing to start this conversation is whether business ownership is right for you because it’s not right for everybody, right?

It’s not for everybody.

So let’s talk about this, let’s break it down a little bit.

First off, you got to ask yourself, What are you hoping to accomplish with business ownership, that you can’t get with a job?

Because currently, right now, I’m recording this in September of 2021, the job market is wide open, you can get a whole lot that you couldn’t get before, and get paid a whole lot more than you couldn’t get paid before. In many cases across the board, there are jobs available of all types.

So what are you looking for, you’re looking for something probably a little different, you’re looking to possibly be your own boss, make your own hours, do anything like that. And there are some misnomers to that.

But if that’s the case, if you’re looking to make your own hours and do your own thing, and possibly you have an idea that you want to get out there, and you see business ownership as the way of doing it.

That’s great, that those are all good starts. But there’s a whole bunch of drawbacks to all that that you have to know about right off the bat.

And so I’d highly recommend that before you jump, fully, absolutely engaged into business ownership, get at least a part-time job to pay the bills to help get keep your head above water, especially if you have any form of debt whatsoever, you want to keep paying that down and just keep moving forward even if you have enough.

Currently, having something that kind of takes up most of your time is useful in actuality. And having a little bit of time on the side, in order to begin building a business is going to be great. And I highly encourage you to go into business. If you think that’s a good thing.

Couple of things you may want to try out first, try out part-time businesses, try out businesses that would allow you to not have a whole lot of debt going into them.

Ones that would allow you training, you know, if they’ve got any type of training, especially if it’s free training tied in or inexpensive training that you can get involved in ones that you can work directly with people that have been successful in that field.

If you can have that type of mentorship situation, that would be really good. That would work well for you. Even if it’s a field that you’re not looking to get into.

But you’re looking to understand it, you got to realize that owning a business and running a business is a completely different mentality from being an employee.

If you haven’t done it before, you won’t get it.

If you have, you’ll understand what I’m saying.

It’s completely different and comes with a whole new set of issues that you didn’t have before. So even if it’s in an area that isn’t the most desirable thing in the world, maybe you’re selling something that you’re not that interested in or you’re you’re involved in some piece of the business that you would never see yourself doing.

Get out there and start doing it. Especially if it’s part-time, get out there, start doing it start moving, then pull back and start seeing things from the customer’s viewpoint. The toughest thing about business. So the toughest thing, it’s one of the toughest things in life you’ll ever get to, is seeing it from the other person’s point of view.

The best book on this, and it’s been given a lot of grief over the years, because of its corny title and its lofty language because it’s, I believe it was written in the 1930s or 40s, off the top of my head.

How to Win Friends and Influence People by Dale Carnegie is actually extremely useful, especially the first half of the book, extremely useful, if you’re for anybody, but especially if you’re looking to get into business ownership, read that book, another book that’s worth looking into.

And there are audiobook versions of these too, if you don’t want to sit and read it, go and listen to it, it’ll be helpful, Rich Dad, Poor Dad by Robert Kiyosaki is extremely useful for someone that’s never done business, and is unfamiliar with a lot of the things that business takes, go check that out, that the main ideas.

If you can see it from the other person’s perspective, and develop your business around a type of customer, a specific desire that you’re looking to help out, you’re looking to help people reach something that they’re already looking for, you’re going to be in good hands, that’s a great way to go.

The second thing is to find somebody that’s already in that field or, or has done something similar. Get them as a mentor, and do it part-time to start.

If you’ve never owned a business before, it’s really, really, really helpful, to not be self-employed right off the bat, if you’re going to be a business owner, you want to keep out of being self-employed as long as possible.

I know that’s kind of odd to think about. But you got to see is a business owner not as you being the worker, but as you being the designer and the person who helps lead the business through its motion as it’s growing if that makes sense.

So these are just some random ideas that only seem random, they all go along the same line, a couple of places you can start, I’d love to hear your questions as far as business ownership, because one of the things that I tend to do, and you’ll find that with most of these videos, I tend to talk from the perspective of a successful business owner, as people who have already done something, but are looking to do more.

So it’s one of the main things I do during the day is helping business owners that are already successful, be more successful, and have a more fulfilling success for their personal life.

But on top of that, I also help people start businesses that have never started them before, or start them in areas that they’re unfamiliar with.

So if that’s you, leave a comment, I’d love to hear what your thoughts are, especially if you’re, you’re getting away I mean with vaccine mandates and everything else.

A lot of people are getting away from employment and not sure where to go next. I got some great ideas as far as that goes.

We could see if it fits you or not. But uh, reach out to me and we’ll talk. That’s all I got for tonight.

Go check out my book, 9 Ways to Amazon-Proof Your Business. If you’ve already had a business especially this is going to help you go to the next level. Get a free copy at AmazonProofBook.com.

Have a good night, we’ll see you tomorrow.

In the meantime, get out there and let the magic happen.

What Was Rich Dad, Poor Dad Really About? 📚🤔 (How to Read a Financial Statement)

Posted on by brianjpombo

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A look into Robert Kiyosaki’s classic, Rich Dad Poor Dad and the value of understanding how to read a financial statement.

Transcription

So what was rich dad poor dad, really about?

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

This is one of those books that if you haven’t read, it’s worth going back to. And it was funny because I had read this book years before it was, well, it had just started becoming popular about the time that I was reading it.

In fact, this copies all browned and everything this is, I think this is my original copy, somewhere around, I didn’t get it in 98. But it’s a 98, printing 1998.

And I read it before a lot of other people did.

As my other friends started reading it, everyone had different reactions to it.

Some people changed their life, I can name two people I know that completely changed their perspective on life. And they started going in a completely different direction just from reading a simple little book, right.

Other people, they didn’t get much out of it or didn’t even finish reading it.

And I was talking with somebody that had just recently read it. They had never read it before. And they said, well, it’s all stuff I already knew. I already know that everything that’s in that that’s common sense, I thought everybody understood that.

The plain fact of the matter is I was going through and kind of leaping through and kind of remembering a lot of these sections. And so much of it I can almost say verbatim because I’m so familiar with Kiyosaki his work. Because he tends to say the same things over and over again, has a lot of the same phrases and principles.

They’re weaved throughout both his books, and his podcasts and everything else that he’s put out through the years.

And there’s one general theme throughout this that I don’t think gets talked about nearly enough, although Kiyosaki discusses it quite a lot, which is about financial education.

But the education part I think, is what’s missing.

I think what this book is really about why he’s talking about a rich dad. For those of you who haven’t read it, the whole concept is he had a Rich Dad, Poor Dad, he had his real dad was his poor dad, and he was a decent guy, was very well educated, had made a certain amount of money, but had did not really know what to do with it.

He died in a position of really not having a whole lot of power. Having lost his job and done all this stuff.

And really, if he would have known what to do with his money would have been in a better position when he passed.

Then he had his rich dad, which was his friend’s dad, who he hung out with a lot. And he got to see how his thinking was so dynamically different. When it came to finances, there will principal guys and everything.

But the rich dad understood some very specific principles when it came to money that other people just didn’t get, including his own dad. And so he’s discussing that he’s discussing passing along these concepts, very simple concepts, but very important concepts.

And that’s really what it’s all about.

It reminded me to a lot of business owners.

I know and I wanted to talk with you about this, if you haven’t read this, please read the book, it’s good book. But it’s more important that you read it with the perspective of how could we get this information to younger people’s hands or to other people’s hands that are open to learning more about these types of things.

How can we get this information out there?

Because the schools certainly are not teaching it. Not that they are purposefully not teaching it. I don’t know if that’s true or not, but they certainly don’t know enough about it to be able to teach it even if they wanted to.

And that people are not teaching their kids this stuff in general.

I’m gonna ask you, if you have kids, if you have grandkids, are you teaching them? And I’m not just with your words?

Are you passing along books like that to them?

Are you surrounding them with these concepts?

Are you walking through and drawing things out for them?

This is one of my favorite things. I’ve done this over and over with people and I’m always blown away how many people do not know what a financial statement is.

And he’s got the I think I’ve shown this on here before.

This is the concept of the financial statement. You have income expenses, assets and liabilities. I’ve taken people all ages and walk them through that process and just seeing their mind blown by just looking at things in a completely different way.

It’s nothing new in terms of, well, we know we should save more we know we should make more and spend less ,you know, all these cliches. There’s a deeper level to it that he goes through on here and nobody ever discusses it.

We’re not having this discussion between each other or anything else. This isn’t part of our everyday conversation, but it probably should be right.

It so that’s my question to you.

Are you passing along?

I think principles and everything else are kind of a given morality, hopefully you’re passing along. But are you passing along the basics in financial wisdom, how to spend money properly, how to make sure you have more coming in than is going out.

These are basic things, but most people don’t get it.

And if you don’t believe me, go and start having conversation with the people around you. And I bet you’ll find your employees, your vendors, many of them will not understand these things.

Start tossing questions out there, start seeing where people are at. When people start complaining about their finances, sit down with them and draw out a financial statement.

Since there’s it’s very simple to do, you don’t have to go through an entire budget with somebody start having them question where they’ve come from, because we haven’t done a good job.

And you got to ask yourself, what can you do more to get financial literacy out there?

Simple thing that can make a huge difference in somebody’s life. I mean, it could really be life or death for some people.

So that’s all I got for tonight.

If you’d like something specifically for your business, in order to take it from where it’s at, and take it to where you want it to go, if your growth is being stunted and you know you could be growing faster.

Go check out my book, 9 Ways to Amazon-Proof Your Business. You can get a free copy at AmazonProofBook.com you have a great night. We will be back tomorrow. In the meantime, get out there and let the magic happen.

3rd Lesson from Rich Dad’s CASHFLOW Quadrant

Posted on by brianjpombo

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Final thoughts in a 3 video series from Brian about Robert Kiyosaki’s classic, Rich Dad’s CASHFLOW Quadrant.

Transcription

The 3rd Lesson from CASHFLOW Quadrant.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

It’s an old copy of mine of, Rich Dad’s CASHFLOW Quadrant, by Robert Kiyosaki classic, absolute classic. I have two other videos that I discussed the first two lessons that I learned from this book directly.

This third lesson has to do with the reason why this book caught me. This book slammed me against the head and dragged me to the ground.

And that third lesson that I got from this book, is the reason why it was popular in the first place. It’s the reason why, when I was working at Barnes & Noble bookstore, they had a separate section all set up with Robert Kiyosaki stuff.

It wasn’t because of all of the claim that he had built up until that point, because he was relatively new, in general to most people. This is the year 2000. And this book was popular got so much more popular, even though it was his second major book. His first major book was Rich Dad, Poor Dad, his second major one was Cash Flow Quadrant.

Even though it came second in line, it was extremely popular and got a lot of play out. There was a New York Times Best Seller was a best seller across the board.

The reason why is one major reason there were a whole lot of things that led to Robert Kiyosaki growth, oops, excuse me, a whole lot of things grew.

That allowed him he, he got in early to the network marketing scene, and was able to use networks that were already in place, and was able to get his books out there and get promoted as a speaker and so forth.

A lot of that built his early fame, big time, but the fact that his that his book was able to get to this one particular person, and the fact that she was able to read it and then promote it made all the difference in the world. And who is that person? That person is Oprah Winfrey.

Oprah Winfrey had Robert Kiyosaki on her program in early 2000. And that is what propelled him to superstardom at the time. What gave Oprah so much control over the American psyche?

Well, she had that Oprah Book Club, she had the ability to promote people she had them on her afternoon show is the afternoon show, it’s a is a syndicated show, it was on across the world at that time, is very popular with a very particular sector of the market of you know, housewives and people that were home at the time. And she just had a real huge amount of influence.

Very similar today, you don’t see a singular person that has quite so much influence, you see a couple larger ones, Joe Rogan, if you can get on the Joe Rogan podcast, that’s a huge thing right now, when, when I’m filming this in 2021, there’s a handful of people like that, that if you’re able to break through, that could be enormous for you, and everybody else that really get it has been brought down into even smaller sectors than what Oprah had. Very small, niche sectors that each unto themselves are huge, very powerful places.

But that influencer term that is discussed in the movie fake famous, which you really ought to see, it’s on Netflix, Fake Famous, I have a review on my on my page, so go check that out.

But that movie talks about the power of influencers. And it I think it does. It doesn’t go in deep enough into the history of influencers, and Oprah was a super influencer.

I mean, she still is to an extent, but not quite where she was in the late 90s, early 2000s. Anybody that got on there could become an absolute monster, huge person in the public side, just by being blessed by Oprah and she had him on a full show there.

It made a huge difference. And it made all of his books from that point on. It got them to a larger audience. It got more attention than you would ever imagine. You could find interviews out there, you could see that interview. If you go search for it over on YouTube.

You can I’m not gonna I’m not gonna link directly to it, because I don’t know how many of those are actually even legal to be up. But you can see interviews with Robert and Kim, his wife Kim, years later discussing the Oprah effect and the fact of how that propelled them into superstardom.

Fabulous stuff, that power of influence is something at the time it was like, Well, yeah, but you have to be Oprah, you have to be Oprah Winfrey. You know, she she started a TV show, after she was already in, in movies like, like the color purple and stuff like that.

I mean, it’s such an unlikely life, that you can’t even imagine setting yourself up to be like that. But nowadays, you can have a huge amount of influence over a small group of people, or over a growing group of people.

But you could have more influence than we ever thought possible back then. It’s all because of the internet. It’s all because people were discussing these things.

Now we’re talking about it, we’re actually taking it apart and dissect it and seeing how it works.

Allowing people to put it together from scratch, you can do it, you got to dig in there and look at the right resources. A great place to start, if you’re relatively new to this especially is my book, 9 Ways to Amazon-Proof Your Business.

It’s a great place to start because I reference other books, other writers, other speakers in this book, that you can go and dig into any one of these areas. These are nine specific ways that you can basically make yourself Amazon-Proof.

I do it from a business perspective. I teach business owners and executives how to do it. But it doesn’t matter what you’re trying to promote. If you’re looking to stand out, go check out my book, you get a free copy a I’m giving them away, get a free copy at AmazonProofBook.com. Go check that out.

And I’ll be back here tomorrow night. What we do on this channel is we talk about strategies, tactics and principles that you can use every day in your business.

We’ll see you tomorrow. In the meantime, get out there and let the magic happen.

2nd Lesson from Rich Dad’s CASHFLOW Quadrant

Posted on by brianjpombo

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Some thoughts on cashflow movement from Robert Kiyosaki’s classic, Rich Dad’s CASHFLOW Quadrant.

Transcription

2nd Lesson from Rich Dad’s CASHFLOW Quadrant.

I am Brian Pombo, welcome back to Brian J. Pombo Live.

One of my favorite books by Robert Kiyosaki is, The CASHFLOW Quadrant, I talked about yesterday. You go back and rewatch that one, I talked about the first lesson, I learned about cash flow from, CASHFLOW Quadrant.

And this is the second lesson, this is a series of three. I also talked about how I came in contact with this book, which was pretty interesting. This lesson, extremely simple, just like yesterday’s one, is very, very, very simple.

But in it, there is…it’s magic, because it’s one of those things that isn’t taught. It isn’t discussed, it isn’t covered.

My parents didn’t teach me this, although they taught me part of it. It’s all about a balance sheet. I don’t know if you’ve ever seen this before.

But this is very interesting, this is a balance sheet. Talks about it right in this book, it goes through much more details. So you can go check out the book to find out more details. But this is so interesting.

It’s one of those things that if you’re a business owner, if you’re an executive, you probably already understand this stuff. And this is far beyond you. But if you want to understand how to explain to someone else, this is a great way of doing it.

So you could take one piece of paper and on one side, you split in half, and you got income and expenses, and you take another piece of paper and you split it down the other way.

You’ve got assets and liabilities. income is what you’re making on a regular basis, it’s what’s coming in, right?

Expenses is what’s going out on a regular basis.

It says today, so once this is, you know monthly or daily or whatever is that your expenses, what is going out on a regular basis. assets, assets are things that are putting money in without you doing anything that it’s bringing money to you, putting money in.

Liabilities is taking money out, it’s making sure there’s more expenses versus income.

Two very different thing that is simple, simple, simple. But here’s, here’s where the visual side of it really comes in handy. And he talks about that this is the most common thing that people get taught.

This is what they how they live their life, they go out, they get a job, they get the income coming in, they get the expenses going out. There you go, that wouldn’t be that bad.

If that were the only way that people did it. You know, it would be very simple.

They wouldn’t understand assets or liabilities. But here’s the real problem is that most people, they get a job, and they purchase liabilities. So they’ll go out and purchase a house or a car or whatever, something that pulls money out on a regular basis, and increases their expenses. So their expenses grow.

Because they bought a liability instead of buying an asset. Most people are never taught how to buy assets, how to buy things that put money in your pocket.

The thing is they tell you to go out and buy a house is one of the things that Robert Kiyosaki talks about all the time, they tell you to go out and buy a house and that’s an asset.

In most cases, a house isn’t an asset, because it’s taking money out of your pocket for the next 30 years or what have you. So here’s here’s the, here’s what you end up having over the long run, you end up having…well, this is me see here, we show you first this one.

So you end up having this the job purchases liabilities, which always goes up, it increases, you may have an increase in income, but you also have an increase in expenses and so money is constantly going out.

That’s what the average person ends up having throughout their life is something very similar to that. That’s if they’re able to keep a job and everything else. Then you have this situation, this is the ideal.

This is what we want to train ourselves on how to do and then train other people on how to do it. It’s very simple. You got some type of job, you got something putting money in and you go and purchase assets.

Assets puts the money back in so that it’s constantly growing, this money goes up, income can go up, expenses will always go down and any liabilities you have will go down.

It’s not that liabilities are all that bad that they’re sometimes necessities you have to hit you may have to have liabilities, but they should be going down and not up. It should it shouldn’t be like how most people treat credit cards which tend to go up and up and up. Right? This is a magic formula.

It’s a very simple way of viewing your budget. All you have to do is go through and say okay, what are all my what’s all the income that I have coming in?

Usually pretty simple for most people. What’s all The expenses going out. When I work with new business owners, this is one of the things that I pulled them through because most of them don’t understand it.

I’ve gone in to purchase businesses where they did not understand this, they did not have any form of budget whatsoever.

I say how can I purchase your business?

For one thing that they’d show me the income, but they wouldn’t show me the expenses? I said, How can I purchase your business? If I don’t know what’s going out?

It doesn’t matter if there’s millions of dollars pouring into this thing. It I don’t know how much is going out. I don’t know the full picture. This is it ought to be taught mandatory in every school in the nation.

I’m not even for teaching most of the stuff at school, I think I think honestly, I think we could get most of what needs to be taught to most people could be taught probably by the eighth grade, we’d probably be done. I know that’s controversial to say, but just in my experience, most people don’t get a whole heck of a lot out of high school.

A lot of people are graduating without knowing how to read. So what good is that?

But that’s a whole nother story. The point is, we need to educate people, this is a great way of doing it. He’s put out a lot of good material. But this is a great book, if you just want to educate yourself on this or to educate yourself on how to talk to other people about it, because maybe you were raised with it.

Maybe you figured it out on your own. And you don’t know but you don’t know how to translate and someone else’s is a great way of doing it. It’s great book, I’m going to go through lesson number three.

It’s a very unknown lesson, because it’s not something that the book talks about. But my relationship with the book and my relationship, understanding how Robert Kiyosaki got this book out there made a big difference to what I consider lesson number three. So come on back for that one.

Now, if I am a business strategist, and I have an entire philosophy that I built up over time, to be able to help businesses to grow. So not only people who are starting new businesses, but people who have consistent growing businesses.

This is where I come in and help them to build their business further to take them to the next step and I do that through a process. That is pretty well explained in this book nine ways to help improve your business.

It talks about how to overcome competition, but really in that process. It’s going to show you pretty much all the things that I end up doing, although it doesn’t go into great detail. It’s a small book, it’ll get you started.

So go check out check out this book, you go buy a copy or you can get a free copy at AmazonProofBook.com. We’ll be back tomorrow. In the meantime, get out there and let the magic happen.

3 Lessons from The CASHFLOW Quadrant

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How a personal journey for Brian, led him to business and Robert Kiyosaki’s classic, Rich Dad’s Cashflow Quadrant.

Transcription

Three lessons from the Cash Flow Quadrant.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

Brought to you by AmazonProofBook.com. It’s the book that I have out there written by me, 9 Ways to Amazon-Proof Your Business. If you go to AmazonProofBook.com you have the chance to download this book for free.

It’s for business owners and executives who want to explode their business and destroy competition. Really the very concept of competition, how would How would you like it to not have it bother you at all, go check out my book, 9 Ways to Amazon-Proof Your Business. AmazonProofBook.com.

Now, I will tell you one of the first business books I’ve ever read. And one of the first that was recommended ever recommended to me was this book. In fact, I think it may have been this very book based on the age. It’s the whole yellow and everything.

I found it in my stack of stuff. If not, this was one that I had bought for somebody else to read and ended up with it back in my hands. It’s a very interesting story about Cash Flow Quadrant. And I’m going to go through three lessons that I got from this book, some directly from this book, some because of this book. But it they’re tied to it.

The first lesson I’ll tell you the story, how it started.

So what ended up happening was, this is this this kind of story of my business life in a sense, because I was in the process of I wasn’t interested, I’ve always had a slight interest in business.

But not really, I never really saw it as my future. My future was in acting in specifically comedic acting, and had a comedy troupe of sorts that was put together and we were going to be building ourselves. after we were done with college or toward the tail end of college.

While we were at a point where we had all decided we were going to move to the same town and live under the same roof and start practicing our art while we were finishing up college, those of us who were finishing up college.

So

that town was Chico, California. Because one because one of us had already gotten a full ride or at least they they got accepted into CSU Chico, which is the State College there. And the rest of us and I was planning on doing that. And so I when I came to town, a whole everything pretty much fell apart. The entire troop pretty close to fell apart at that point because most of the people all of a sudden decided they weren’t going to be moving up there after I had already gotten up there.

The day I arrived, the main person the reason why we were moving there was in the process of moving out as I was moving in to a apartment with two people who were one was a complete stranger, the other I had met previously once before.

So here I was in a strange town with a strange situation, living with strangers, knowing really nobody in town, and really wondering where life was going to take me next because I thought I had it all figured out. At 21 years old. Man I didn’t, I had no idea what I was in for I had no idea what was next. And so I pretty much opened myself up to the universe and said,

Hey, you know, big guy, whoever’s out there, show me what’s next.

And I got in a situation so I was I already had a position. So I had previously I was when I was living in south of there but still Northern California.

I was working on a Barnes and Noble bookstore if you remember those, they used to be all over the place and they were the hot thing. And they most of them either had a Starbucks attached or they had a Barnes and Noble cafe attached that serve Starbucks coffee. Well, I got pretty good at serving coffee through that little facility.

I also got pretty good at working the book side so you can go either way, depending on the day, you’d work one direction or another, well, when I moved to Chico I worked mostly on the cat on the coffee and and was pretty good at it and kind of stuck with that and just kind of hung out and did my thing. And one day they needed some more help on the floor. So away from the coffee shop.

So yeah, dressed a little bit differently. You know, I had to wear a tie and everything. So get out to the floor on this particular day and the gentleman comes up and asked me where he could find this book. I knew about the book because this was the year 2000. And it wasn’t that long before then that this gentleman Robert Kiyosaki was on Oprah.

And at that time, if you were on Oprah, and you had a book out there or many books out there, and he had a handful, then all of those books were becoming major massive bestsellers. And they did. It was old during that time. So there was a whole section. Pretty much an entire split. It wasn’t an aisle, but it was pretty much almost a half of a bookshelf full of Robert Kiyosaki books now he’s he’s come out with a lot more since then.

But at that point, he had two major books, Rich Dad, Poor Dad, and this one cashflow quadrant, both of them absolute classics, recommend everybody read them, because you’ll you’ll learn something, whether you’re interested in business or not. This is the one that really, it’s funny because this gentleman asked me where it was walked over there, and then proceeded to talk my ear off about what cashflow quadrant meant.

I didn’t have a great idea of what he was talking about. But he seemed to know, or thought he knew what he was talking about. And I didn’t really trust the guy. I wasn’t quite sure what this guy’s deal was.

But he says, you know, you seem you seem to get this type of thing.

Why don’t you meet me sometime, we’ll we’ll talk about it some more. Because I’m working on working on a business that I think really fits what this guy’s talking about when he’s talking about a B style business. That’s okay. So I bet it’s I don’t know where this is going. But I’m an adult, I can handle this, right.

That string of relationships. It wasn’t even that gentlemen, that gentlemen I only I always spoke with for a few weeks. But I ended up meeting a group of people that he was tied in with that ended up completely changing my life, in terms of how I saw business and everything else.

It was because of the concepts of this book. So if you understand that, I’ll give you just a brief rundown of this, the cashflow quadrant are four different spots, if you’re making money on a regular basis, and you’re not just pulling a check from the government, but you’re making it you’re getting a paycheck from somebody. You’re either an employee, which most people you know, trading time for money, you’re self employed.

So you may own a business or whatever, but you’re still you’re stuck to it, you’re tied to it, it’s a time for money thing, you stop putting in the time you stop making the money, you’re maybe making more money than the employee, but not necessarily and you’re still stuck in a time for money paradigm, okay, over on this side of bigger business, a person with a business that is systemized, can walk away from the business, they’re not tied timewise to it, they may still be tied to it in terms of management and so forth.

But there is not a time thing, they could be off away from the physical business, and still be able to get something out of it.

So that’s that. And then you got the investor side, which is somebody it’s system based, this business assistant base and investor is another system that you just have to put money into money and time. And that you can produce out of paycheck off of in a sense, getting paid over time, on this side is not is not time based, IT system based. And over here, it’s time based.

Whereas most people are not over here, but produce most of the wealth. And most people are over here and produce a very small sliver of the wealth in this country. So the whole idea is what’s the difference between these two sides.

The difference is just a thought pattern. It’s how you think about it, it’s how you see system. So one of the three pillars of BrianJPombo.com is being system based, system based, having a system built into your business, that’s a huge thing.

And to this day, this concept, which is only a small part of the book, where he covers this, but this concept is huge. It can change everything in your life, if you understand that once you find a way to make money, all you have to do is systemize it, make it somewhat mechanical, make it able to be able to grow like we’ve talked about before, it can be an organism of sorts, but it has to have system to it. It has to have predictability.

It has to be where you are, it isn’t dependent on any one person, including you. We’re gonna go over lesson two tomorrow. But that’s the first one that I wanted to cover. We’ll have more of that tomorrow. We do this every night we get together we have a little chat about a business concept, some more principle based, some are more strategies and some are just really detailed tactics. We’ll be back tomorrow. In the meantime, get out there and let the magic happen.

Why You Need to Write A Book

Posted on by brianjpombo

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Brian talks about the purpose of a book and how it can help your credibility and beyond.

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