Building The Brand Of A Rich Dad

Robert Kiyosaki knows how to build a brand.

The investor and financial literacy guru is known more for the Rich Dad” brand he has carefully crafted and built into a series of seminars, games, and books.

In fact, his Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing were all in the top 10 best-seller lists simultaneously.

He was recently in St. Louis and I chatted with him about his success, how consumers and business owners can learn from his examples and both protect and grow their wealth.

Q: Rich Dad Poor Dad is the most successful financial literacy book of all time. Why do you think that it created such a storm?

Kiyosaki: It told people what they already knew…and what they were seeing in their lives. The idea of going to school, getting good grades, landing a safe secure job, and investing in a 401(k) was not working anymore. There is a better way, you can do it and it’s not that tough. It just takes knowledge supported by action.

Q: How did you come up with this financial mantra of yours? Were you influenced by something, or was it more from personal experience?

Kiyosaki: The story of Rich Dad Poor Dad is true. My best friend’s father was my rich dad and he taught his son and me how to think like the rich and see the world as they do. And that is the key to being successful.

Q: How do you respond to your critics that suggest that your financial advice could actually lead to financial pitfalls?

Kiyosaki: They are just that… critics. They are not interested in learning. They make their money by criticizing. How can the idea of getting yourself educated and learning to make your own decisions so you don’t have to be a victim to the world or money be wrong? I teach you to think for yourself and to be independent.

Q: Many authors use fictitious examples to illustrate points they make. How much of your books are based on real-life examples, and how much is made up?

Kiyosaki: My rich dad was a real man. So was my poor dad. I learned from both of them. More importantly, the lessons my rich dad taught me have stood the test of time. His lessons have made me wealthy…no matter what the economy was doing and no matter which political party is in office.

Q: Many small business owners proudly display the first dollar they made. Can you tell us how you made your first dollar?

Kiyosaki:  I can. I was 9 years old and my best friend and I started renting comic books to our classmates. We got the books free from rich dad’s store. They would tear the covers off the comics they could not sell and throw them away. I asked if I could have them and my comic book library began!

Q: What was the biggest lesson you learned from your father - your real dad?

Kiyosaki: My dad taught me a lot about being a man and caring for your family, but the biggest lesson he taught me was through his failures. You cannot count on your job or the government to take care of you. You have to do that yourself.

Q: You also recently wrote, "Why 'A' Students Word for 'C' Students and Why 'B' Students Word for the Government." What is the message that you want to tell parents?

Kiyosaki: The school system is not just failing your children, it’s hurting them. The schools system systematically destroys your child’s genius. It’s up to parents to recognize that genius, preserve it, grow it and help our children become what god intended for them. Once again, you cannot rely on the government or others, you must take this responsibility as a parent to whet your child’s appetite for knowledge and encourage their genius.

Q: For recent graduates, and soon-to-be-graduates, it's a tough job market. What is your advice to them?

Kiyosaki: Get yourself financially educated. Chances are you have a lot of debt and no way to get out of it. The school system does not teach financial education and feels no guilt about you starting your new life with a pile of debt. To start your financial education, learn what the difference between an asset and a liability really is. An asset is anything that puts money in your pocket and a liability is anything that takes money out of your pockets. Stop buying liabilities and start buying assets and you will become financially free.