I’m sure I was not the only one, the book sold millions of copies worldwide and has expanded into an empire. I devoured the book, I read three times in a row. I got out highlighters and notebooks and I studied the book page by page.
My mind was so starved for information that it was like fuel. I was so immersed in the work that I even bought the board game How to Get Out of the Rat Race. I still have the game today and I really should break it out for old time sake and to re-open some of those ideas.
When I was about twelve or thirteen my Parents got into a home business. We were living in Las Vegas and their good friends from Utah came down to “visit”. They showed up and they had all kinds of neat stuff and they had this really cool dry erase board with lots of markers.
That evening we all gathered around and my parents friend Russ came in the living room. He had the white board all set up and he came in dressed to the nines, he started in on the his presentation and he started drawing the little circles and connecting all together with money!!!
I think I was more excited about it than my parents, they joined because it was their good friends. I have never really asked how much they really intended to put into it, but I loved it. I thought for sure we were going to be rich. I started counting down the days to turn old enough to join myself. I even knew the presentation and compensation plan better than my parents.
So that is really when the bug bit me, but it laid dormant for many years and was re-ignited by reading Rich Dad Poor Dad.
There was a small group of us that all read the book and we actually started our own little investment group. We each put in a few bucks and we would meet once a week to pick a business, write a business plan and start a business. In 2001 I was around twenty four at the time and all of us in the group were around that age so we did not have a lot of resources to start with.
We would meet and play the board game to help us get motivated at the beginning of each meeting and talk about Rich Dad Poor Dad and business.
During this period we decided that we were going to buy and existing business. So we found a business broker in Las Vegas and went through the listing extensively. At that time in what we received as our budget was a Toko Bunga for sale in North Las Vegas out by the Nellis Air Force Base.
The business was owned by a very sweet old lady that was ready to retire. I actually went to the shop a couple times and visited with her. She showed me how the business operated and gave me the financial information we needed to complete our business plan.
Once we had the business plan complete I then made an appointment at the SBA and met with a counselor who reviewed my business plan. It was a very opening experience to say the least.
He laid it out in very simple language. He told me I had a great business plan, it was well researched and it was perfect to go apply for a loan.
Then the next thing he told me was the kink in our plan, he said that we were going to need to raise twenty percent to put down on the business. And that was to even think about getting a loan from a bank.
The business was only $89,000, but that was still almost twenty thousand dollars we would need to put down. That was a big chunk of change for the five of us.
After months of work we basically just put everything down and moved on.
We did not buy the flower shop, but I learned a great lesson in business and the importance of being prepared and having a business plan.
I look back now and I know we could have come up with the down or somehow bought that business if we would have been truly determined.
We were excited and pumped up to start investing and hit it big time in business and real estate, but we were not fully dedicated to the plan. There was skepticism and their was doubt that eventually lead to us abandoning the entire project.
I was not disappointed and I did not feel like I had wasted my time though because I learned some things that I would have never learned if I did not take action and at least try.
I have had a few business fail now…
I had a phone card distribution company that failed
I had an t-shirt company that failed
I had a record label company that failed
I had an affiliate marketing company fail
But I have not given up, each time I fail I pick myself back up and move on. The world is full of opportunity and I could never give up on my dreams of entrepreneurship.
Even when the flower shop was put aside, the mindset change had already taken place from reading Rich Dad Poor Dad.
For the first time in my life at that point I realized that the conventional way of thinking was messed up. If you think about it the way we are trained to live as we grow up and the things that we put value on some of them are really ridiculous.