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"Midas Touch" by R. Kiyosaki & D. Trump

Asp_DE

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Read Millionaire Fastlane
Feb 12, 2017
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Frankfurt, Germany
I want to share with you some ideas and overall impressions regarding “Midas Touch” by Robert Kiyosaki and Donald Trump.

The Midas Touch is not the first book I’ve read from Kiyosaki or Trump. Both have something to say, but I tent to give Robert the laurels. You don’t have to be a qualified literary scholar to notice that Donald Trump did not wrote his part. He apparently used a ghostwriter (just for text clarity, let’s assume it was Donald…).

The authors are alternating. After Robert, Donald follows. In my opinion Robert gives really well-founded knowledge and it’s not the school BS we can hear in every university and so on. It’s – and that is, why I like him so much – unconventional wisdom, tested on the battlefield. I like his parallels to his military experiences. Because, let’s be honest here for a while…, who’s an entrepreneur actually? In my opinion an entrepreneur is - like a wise man said - the modern warrior, and Robert illustrates this by giving some nice examples from his time at the Marine Corps (btw_ I like the ways u guys honor ur soldiers. We in Europe treat them like garbage, we have to pay for).

Like I said before, Robert’s chapter follows Donald. Kiyosaki is making the agenda. Donald just seizes the topic and gives his famous stories you already know for “The Art of the Deal”. Well, I guess Donald Trump was only a smart way for Kiyosaki to improve his book sales (don’t forget, Robert is an excellent salesman…). But anyway, I still recommend this book! It’s worth its price.

I mentioned yesterday here on this forum (my first post) that I made notes while reading this book. Obviously, I don’t read books, I “disassemble” them to squeeze the holy s*** out of them. I did it also with this book and I think I have already a debt to repay to you guys, because I learned already a lot from some GOLD – THREADS here on the forum. I don’t want to be only a beneficiary here, so I decided to add some value and share some of my findings. So let’s go!

(1) Robert emphasizes that schools do not create entrepreneurs. Schools are creating employees. Sounds familiar? Yes, it is the same conclusion from “Rich dad…” But I think he is damn right. Employee equals lifeless – boring – comfort zone – consumer – struggle till the end. We have in Europe all the state guaranteed insurances, so almost everybody embarks for the treadmill. People leave school with a qualification and they are immediately settling
(The first sentence in the intro scene in the movie “Trainspotting” is so true…). But they don’t know they are in the Slowlane… [for the Slowlane definition look at MJ’s book :) ]


(2) Robert and Donald differentiate between an entrepreneur and a successful entrepreneur (quite similar to wantrepreneur vs. entrpr., just a matter of terminology…). The successful one has the Midas Touch. If you can transform a thought into money like JackEdwards, you must have the five traits of the Midas Touch:


  1. Strength of Character / you can turn bad luck into good luck / resilience

    (see the story of Jim Stockdale -> just another book author…)

  2. F.O.C.U.S. / Follow One Course Until Successful / and, or persist until succeed (but contrary to this look at the “The Dip” by Seth Goddin -> just another book author…)

  3. Brand / What You Stand For / if you do crap, you are c__p

  4. Relationships / You Can’t Do a Good Deal with Bad Partners / …ever been conned?

  5. Little Things That Count / What Successful Entrepreneurs Do That Other’s Don’t

(3) Here my favorite quote for the book:
  1. R. Kiyosaki:

    >> After I adjusted to flying a gunship on live-fire missions, my instructor increased the pressure. On the second-to-the-last training flight, he snuck a child’s plastic baseball bat into the cockpit. As I rolled the aircraft on the targets in the desert, the instructor began hitting me with his plastic bat on my helmet, on my arms and legs, and across my face. Turning to him, I shouted, “What the hell are you doing?”

    “You’re dead,” sneered my instructor. “You will kill us all.”

    “What the hell are you talking about?” I said, pulling the aircraft out of its dive without firing a shot.

    “You lost your focus.” said my instructor. “Anyone can fire machine guns and rockets on targets in the desert. In a month, when you are in Vietnam, your targets will be firing back. This plastic bat simulates what it feels like to have bullets ripping through the aircraft. The moment I hit your helmet and face shield with the bat, you lost your focus. You killed us all.”

    Lesson learned. <<

I have a lot to share and discuss with you guys about this books. But my time is also limited and valuable. If there will be positive response to this thread I will give more insights from “The Midas Touch” on a regular basis.

Hope you enjoyed!

Asp_DE
 

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