Business Concept 3: Helping Others Make Money First

Robert Kiyosaki mentions in one of his books: to learn how to make money from business, first learn how to make money for others. Quite a confusing concept for me until I thought about it more. 

A self -running business requires an operational framework or system that enables employees to run and operate without the business owned being directly involved. He would have to think about the operations, how to control standards, monitor performance, etc., just to name a few things. If you read my previous post on "How to Make Money", the 2 examples of self-running businesses were a franchise  and multi level marketing (MLM). Both of these require you to teach others how to make money first before they make money for you.

It is for this very concept that has made my dad into the successful businessman he is today. In a time where quality products were hard to find locally, he pushed a quality branded product into the market as a distributor by selling them off to retailers. Of course, when customers could buy a quality product that they want, they were happy and the retailers made money. They more money the retailers made, the more they ordered from the distributor. Selling a branded product also elevated their status from just "Trader XYZ" to "Trader XYZ, authorised agent of ABC Branded products". The better their image was, the better it was for their business. 

The whole advertising industry is also based on this simple concept. Help the client promote their products, they pay you for your service. So in short, this concept is about "if you give people a rice bowl, they will share their harvest with you" - a philosophical saying I just thought up...