man building his business

How to Start Your First Business

The value of part-time, home-based businesses

After leaving the Marine Corps, I decided that I was going to build my own business. I was young, eager, full of ambition…and broke. I didn’t know how to build a business, I had no money to build one, and I didn’t even have money to live on.

Feeling weak in the stomach and lacking confidence, I called rich dad thinking he would give me the pep talk I needed. His response was, “Go get a job.”

I was shocked. “I thought you told me to start my own business,” I said in disbelief.

“Yes, I did,” said rich dad. “But you still have to eat and put a roof over your head in the process.”

Rich dad went on to explain a very valuable rule: Work to learn, not to earn.

By taking a job, I’d learn the skills that were necessary to start the business that I wanted to, not to build a career and find job security. He recommended that I take a job that would teach me sales skills because he knew I was very shy and terrified of rejection. He wanted me to learn to overcome my personal fears.

With that advice in mind, I started as a salesman at Xerox. I was terrified. Each day I had to go from office to office, meeting strangers and trying to sell them a machine they didn’t think they needed. It was a painful learning process, but one that has made me millions of dollars over the years. It was truly an investment.

As I worked at Xerox, I became one of the top salesmen, but I still felt strapped for cash every month.

Given this reality, rich dad gave me a second lesson: Keep your day job, and start a part-time business.

“The biggest mistake people make is that they work too hard for money,” said rich dad. “Most people do not get ahead financially because when they need more money, they take on a part-time job. If they really wanted to get ahead, they would keep their day job and start a part-time business.” This is true for companies like Microsoft, Facebook, Amazon.com, and Dell Computers.

Rich dad went on to explain that most big businesses started as part-time ones, and that the problem with the world is not a lack of great ideas, but instead a lack of great businesspeople.

The primary reason to start a part-time business is to make you a great businessperson. Focus on building a great part-time business so that you can learn to become a great business owner.

What you’ll learn

Starting a business at home part-time allows you to learn priceless business skills and subjects such as:

  • Communication skills
  • Leadership skills
  • Team-building skills
  • Tax law
  • Corporate law
  • Securities law

These cannot be learned in a weekend course or in a single book. They must be continually learned hands on. I continually learn them even to this day. The more I study them, the more my businesses improve.

By starting a part-time business, you become an insider. A whole new world with virtually unlimited financial opportunity becomes available. It’s truly a transformative and mindset-altering experience.

The best part? Anyone can do it.

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