How Failures Make The Rich Richer

How Failures Make The Rich Richer

Anik Singal: Anik Singal: Anik Singal:

Robert Kiyosaki:

Oh, man. I love this topic that we're going to talk about. This one right here. Um, those change your life. If you can change the way you think about this and that is the word mistakes, right? Mistakes has such a bad, bad connotation in our society. We thought, Oh my God, I made a mistake. Mistakes are bad. I love mistakes. Let me tell you something. So I have this moment and I'm going to explain it to you. And, um, I remember in college, right? We pay a lot of money to go to college. I remember being in college and I went to a teacher who was teaching us entrepreneurship. We're in a big lecture hall was like 300 plus people. And I asked a question. I went down, it was very innocent. I say, he's teaching entrepreneurship. I said, so what businesses have you started?

Do you own a company? And he says, no. As do you have started have you started a business? No, I didn't say anything past that. I just kind of smirked and smiled and walked away, but I'll tell you for years, it's eaten at me that day. It derailed me, made me want to quit college. You know, I really hit home for me because I remember thinking, why are you teaching me to do that which you have never done yourself? I could read a book. You're teaching me theory. Theory is not reality. This is why I love the fact that you're in this program. This is why I love the fact that Rich Dad and Lurn have partnered up because there's, you know, between the two organizations between our collective knowledge, there's a gazillion mistakes we've made and you are learning the outcomes of those mistakes.

We are able to swerve you in the right directions. Don't take that left. It's a dead end go right. I already did that left six times. And that's what you're learning from this program. So this is why I love the tactical course that you've enrolled in here because we're going to give you the exact step by step don't reinvent the wheel. Listen just don't. I make pizza a certain way. Cause it tastes good when it's done. I'm not going to change it. I enjoy the product at the end. I know my steps. We have the recipe. We have the ingredients. We know what to do. And what more importantly not to do mistakes are amazing though. But the power of mistakes is that you are now learning from those who have actually done and will swerve you away from the mistakes that we made. That doesn't mean that I don't want you to make your own mistakes. I just want you to understand that the journey of becoming an entrepreneur is one where you will always make more mistakes than you will have successes. That's a part of it. As long as you learn from them, I never make the same mistake twice. Now, as if, as if it wasn't enough for me to say it, let's hear it from the man himself, Robert Kiyosaki will tell you I'm not wrong. So Robert take it away.

So this is lesson eight on how to awaken your financial, how failures make the rich richer. Now let me show you this picture here. This is a picture of kids in

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Robert Kiyosaki: Robert Kiyosaki: Rod Smith: Rod Smith:

class. If you're in a classroom, this is what smart is. It's the kids. And they'll all the right answers. And in school that's considered smart yet. That's not the way human beings are the real way human beings learn. Look at this little baby, baby stands up and falls down, stands up and falls down. Get in school they punish you for falling down and they wonder why kids don't want to learn anymore. You keep punishing them every time they fall down, call them stupid. Well in the real world, if you're going to be an entrepreneur on this side here, you've got to be willing to stand up and fall down. But the truth is, and all of these quadrants to be successful failure means learning from your mistakes and getting smarter.

Unfortunately, the school system failure making mistakes means you're stupid. So if you look here at the cone of learning very important tool here, you'll see here. The worst way to learn is at the bottom of the cone in the lecture and reading that's what's cool is that the top of the cone is doing the real thing, but just below, that is a simulation is called practice. The truth is the most successful people practice. No they've practiced to make mistakes, learn better practice, make more mistakes, get better. A golfer practices to become a better golfer. People like tiger woods, Rory McIlroy, Sergio Garcia. They probably hit a million balls. A practice concept in theater is called rehearse, rehearse, rehearse, rehearse, rehearse. But one of the reasons most people are not successful. It's because they went to school here.

Can you actually, on this side, you're punished for making mistakes on this side, you have to make mistakes. So here's my dear friend and the friend for here is one of the greatest athletes in the history of the NFL, the national football league, Rod Smith rod was a great employee captain of his team, the Denver Broncos, because he practices what he carries that over here too. The reason he's a very rich man and not a poor broke old pro athlete is because he practices the same thing here. He practices, practices, practices, practices, practices, practice, because through practice you make your mistakes and you get better. So that's how mistakes lead to success.

Well, I know most of you guys don't understand American football, um, but that's the number one sport in our country. And when you growing up in poverty, the way I did you need anything to get out. Cause I was always told, go to school, you know, go to school, then go to college, didn't go to college, didn't get the job. And so I need to get to college, but we couldn't afford it. So the way to get to college in America is through a scholarship in either sports or school. So I wanted to get a scholarship to get out of the projects that go to college. I grew up in Texarkana, Arkansas, real small town, about 55,000 people. My mom was on welfare food stamps. We have government assistance. They don't have that in some other countries. Um, my dad was gone. My dad left, uh, hell I don't remember when he left doesn't matter.

Um, and so my goal was to go to college so I could take care of my mom. That was the goal. And so I worked hard in school. I had three plus GPA to get a

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Rod Smith: Rod Smith: Rod Smith:

scholarship for college, but I played football very well. And I got a college scholarship to Missouri and went to Missouri, got hurt a couple of times, but I wanted to go to the NFL because I can really take care of my mom and myself. If I could go there, I had all the numbers. I played well, I was all American, but I didn't get drafted. I didn't, no team picked me. So they have this draft and it's like 200 and something people. And they said, well, you're not one of the best 200. That's basically where it looking at it. And so when I got a chance to play with Denver, I was like, set. I said, now I'm here and you will see that I fit because now I'm off while I was off the whole time. So it didn't really matter. Have nothing to lose. I have nothing to lose. I have everything to gain. And so for me, and I had, I've had reporters tell me that you played with a chip on your shoulder. I said, well, it was more like a tree on my shoulder, wasn't a chip chip is too small.

So, you know, just to make a long story short guys, um, I just want the opportunity. I just want the opportunity to prove that my skills were just as good or better than the other people I was going against. I'm in my locker one day. And the guys from Florida state Uh, no, no Notre Dame, Nebraska. Cause I went to Missouri, Southern state. That's the college I went to and it was very small school and they would all be like. Where's that? I said, it's in Missouri for the athletes. They're not as smart. Right? So because it's in Missouri, they went to so-and-so and they got their jackets on and all this stuff. And I said, we'll see out there. See, cause when, when you're out there we're even, I don't care where you went to school out there. And so once we went out there, I earned their respect by beating them up.

I mean, every day it was, it was day after, day after day. And that's why, um, and I, and I ran into Robert's principles while I was playing. You could, you could find me in the training room, reading rich dad, you could find me on the plane, reading, cashflow quadrant and you could find me on the plane, reading rich dad's guide to investing. They always like, dude what are you reading? You always reading these purple and black books all the time. Since that, since my buddy gave me that one book one time, the rest of my career, they would find me in the back of the plane on every trip, reading one, originally as books, every trip. And I had a few guys of course ask about it. And because I knew there was more, there was more, I didn't know about my own money. I have three, three degrees in business taught me nothing.

No, seriously. They gave me some basics of what I don't want to do. This is true because none of the people who taught me knew what they taught me. They never did what they taught me. I started stalking Robby, probably Kim, every time they would go somewhere and I would run into Kim. Right. And um, and I just, I was so in all of their information, we were just talking about it at the table. The reason most people don't say, I don't know it's because they're worried about judgment. They're worried about the label that somebody's going to give you. If you say you don't know, they call you stupid. So we're afraid of

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Rod Smith: Robert Kiyosaki:

Rod Smith: Robert Kiyosaki: Rod Smith:

Rod Smith:

that label. So we give them more power than we give ourselves. And if you're being as correct, you don't care what they label, you know who you are.

And so, so the thing was, uh, as we were just discussing here is with teachers, they get a curriculum and if they don't teach their curriculum, they're stupid or they get fired and they don't teach what they know, because most of them don't do what they teach. And that's one thing I love about the Rich Dad advisors. Of course, all you guys book, I've read them off. I got, I got all your guys' books as well because they do. He made it so much easier for me to understand

The corner of learning here. What impressed me about you is that you have doing the real thing. So his teachers do the real thing. Your coaches played football, right? Yeah. Most of them, yeah. Some of them and some of them don't, but the real ones do. But the thing about simulation here is one of the most important words in education is called practice. Yes. Because it's in practice where you make your mistakes. So what happens is you have a pseudo quasi teachers who tell you don't make mistakes. Yet. If you look at doing the real thing right below it is the simulation, game, in music, it's called the rehearsal. Football is called. You know, if you're going to be a guitar player, you practice for hours. Okay. And that's what school misses the practice. You've got to make mistakes. And the person that makes the most mistakes in life and learns from the mistakes wins. How did you become captain of the Broncos was such it your good looks or...

It was practice.

So tell me the story of how hard you practice the difference. Was he practiced more than anybody else in the team?

No, I, um, it's in, in the off season, you know, football season is 17 weeks. If you go to playoffs, when the Super Bowl ends in February. So you have from the first week of February football season and start back until July. So what about all that time in between you can be very idle. Well, I would take two weeks off. One week I would give to my family, one week I would give to me, I went back to work, practicing on my own, not with the team. You you're you're by yourself. You're you're solo. You're, you're studying you're, you know, you're alone. So I would work on the things that I didn't do well the previous year. And I would work on the things I did well the previous year work on at all. And it's, it's funny that you said what you said because, um, then they'll have team workouts where you can start coming.

And, and for me, this is my life. When a job, if I do this right, is set me up for the rest of my life. So nothing came between that. And so in the off season, they would track how many meetings, how many times you can. And for me, for 14 years, I never missed one. Not one time I went to S they were voluntary. You didn't have to come. I went to 600 and like five consecutive off season trainings,

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Rod Smith: Rod Smith: Rod Smith:

even when I was making $5 million, even when I was making $7 million, I didn't care. I went to that training every single day to get better every day, because there was always something I was going to learn every day. And so there was a lot of guys who made more money. There was a lot of guys who were more talented, but they weren't gonna outwork me. They weren't gonna, they weren't, I wasn't going to give them the satisfaction of saying, if you would have showed up a couple more times, will you still be playing? I wanted to end the game on my terms. I'm the captain of the team, like the last seven years. And...

Because you have to do stuff that separation from everybody else. And I was going to show up. That was the first thing. Most guys wouldn't even show up. Cause they were talented. Talent is not enough. I promise you. And nothing I've learned. Talent is not enough. You have to practice, practice. And when you, when you're tired, practicing more. And then when you think you figured it out, practice again, because every simulation is different. Uh, we were talking about cashflow. We were talking about cashflow, uh, yesterday and how we love playing cashflow. I play cashflow all the time and we were talking about it and he says, he go and get him to games or cashflow because every deal is different. Just seeing the numbers and seeing the deals every single time. My, my kids, we play cashflow and I'll never forget. Now my daughter beat me one time and she cussed me out.

She stupid rich guy. You're a peasant. Just talk me out. Because when I played him, I slaughtered them. If I can't, I show no mercy whatsoever. I want to be out of the rat race. And everybody's still in there. And I talk about them the whole time I'm walking around the house and I walked by how you peasants doing? How's that cash. How's that job thing going for you and my daughter won she teaches dog me. My son is a lot better. He's beat me several times. I don't let him know that. I don't remember that, but we play it. But guys, you know what? Now my son is doing it. My son just moved to Columbia. He started a business online, make 60 grand in a month. Him and his buddy, I said, you you're broke in America's it's your fault. He literally started online business with a buddy.

They see they've made 60 grand in a month. And he cleared $23,000. He said, dad, I'm moving to Columbia. I'm like really great. Get out my house. Right. So, but, but you know what? It's because he sees me, we doing it. So the best way to teach is to do, and it's hard. Well, to me, it's impossible to teach what you don't do. So I have to get into in the fight. I have to get out there and practice. I have to put my money up. In some regards, I come to seminars, I listen to books. I listen to tapes. I bought a videos and just to simulate, like he saying, I simulate, what would I do if I was in that situation? And so guys, then, you know what happened? Those situations came. And then I did what I practiced. And then the result turned out the way I want it. And then I do it again. That's why I'm entrepreneur. It's the best class you've ever had. And it always changes. And so I lean on his guidance. I don't talk to him all the time, but from afar, I get the essence. I understand who Kim Kiyosaki is. I understand who Robert Kiyosaki is. And I study them even when they're not looking up studying. And I study these

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