Posts tagged ‘entrepreneur’

Over the holidays, I re-read “The Cash Flow Quadrant” by Robert Kiyosaki. If you haven’t read the Rich Dad
series of books, then you absolutely must do so immediately.

Between Robert Kiyosaki and Loral Langemeier, they have taught me a whole lot when it comes to money and
business.

So as I got to page 13 of The Cash Flow Quadrant this sentence jumped out at me:

“Another example is that both dads made more and more money as they became successful, but my real dad, the
educated one, also got further into debt.

So he’d work harder and suddenly find himself in a higher income-tax bracket.

His banker and accountant would then tell him to buy a bigger house, and soon he was working harder than
ever so he could make more money to pay for the new house…taking him even further away from his family.

My rich dad was different. He made more and more money, but paid less in taxes.

He, too, had bankers and accountants, but he was not getting the same advice my highly educated dad was
getting.”

Interesting, huh?

What’s even more interesting is that in my accounting business, new clients would often complain that
their (prior) accountant did not give them the advice that they desired.

Some even commented that ‘accountants don’t know anything about business! Ouch!

What a slap in the face. But I agree with them.

What kind of advice are you giving your clients?

Advice to make them rich or advice to keep them poor OR are you giving them advice at all?

I say this often and I must repeat it here.

Whether you have personal clients or you deal with the accounting or taxes for business clients.

Clients only want 3 things:

(1) Make more money
(2) Save more money
(3) Save more time

Are YOU giving your clients RICH Dad or POOR dad advice?

Here are some examples of RICH dad advice:

*Create a company to protect your assets
*Make your wife and children your board of directors and pay them a salary
*Don’t buy a car if you don’t have to, invest in some rental property
(Please note: I am not a financial advisor and you will need to assess each client on an individual basis.)

So what are you doing…are YOU giving your clients RICH Dad or POOR Dad advice?
[photo compliments www.richdad.com]