What do you want to be when you grow up

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Culled from Culled from Robert Kiyosaki’s Rich Dad’s PROPHECY to help us understand how the excuses we make hinder us

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What do you want to be when you grow up

  1. 1. Francis E. Madojemu, Culled from Robert Kiyosaki’s Rich Dad’s PROPHECYWHAT DO YOU WANT TOBE WHEN YOU GROW UP
  2. 2. Introduction•A few years ago, I wasspeaking to a group of abouta hundred people aboutinvesting. •They were between the agesof twenty-five and thirty-five;bright, well dressed, most hadcollege degrees and good jobs. •For a group that seemed tohave everything going forthem, they whined aboutwhatever I had to say.
  3. 3. Introduction•For example, when I said, "Iusually look at a hundredproperties before actuallyacquiring one," immediately ayoung woman raised her hand andsaid, "A hundred properties? •Who has time for that? Besides, Ithink Im too old to begin investingin real estate.“•Letting that comment go, Icontinued with my discussion onfinancing a property. I explainedthat I sometimes used a largerdown payment just to keep mydebt-to-equity ratios in line.
  4. 4. Introduction•Immediately a hand went upand this time a young mansaid, •"But what if you dont haveany money for a downpayment? I still havestudent loans to payoff."•Before I could say anything,another young man stood upand said, •"Real estate wont work form e . I h a v e c r e d i tproblems."
  5. 5. The Lesson•With that I stopped theclass. "Look," I said. "Iknow this was advertisedto be a talk on investingin real estate. •But before I go on, I-wantto offer you a lesson farmore important thanmaking money with realestate. •Im going to share withyou a very importantlesson from rich dad."
  6. 6. The Lesson•With that I turned and wrote onmy flip chart the question, Whatdo you want to be when yougrow up? •Turning to the group I then asked,"How many of you have everbeen asked this question?”•All of the hands in the room wentup with that question."Who wouldlike to say what they wanted tobe when they grew up?" •"I wanted to be a medical doctor,"said one of the women. "And Ibecame one."
  7. 7. The Lesson•"Good," I replied. “Anyone else?”"My dad wanted me to go intobusiness with him but after collegeI opened my own business," said ayoung man."Okay," I replied. •Now when rich dad asked his son,Mike, and me that question he wasnot talking about what professionswe wanted to become when wegrew up. •He was asking us if we wanted togrow up to become more honest orless honest. More reliable or lessreliable. Have more integrity orless integrity. That was what hewanted to find out when he askedthat question."
  8. 8. The Lesson•There was a long silent pause.Finally someone asked, "You meanhonesty and integrity really areimportant in investing?"•"Well I cant speak for everyone,but to me they are," I replied. "But Ia m n o t j u s t t a l k i n g a b o u tinvesting. I am asking if honesty,reliability, and integrity areimportant to you."•"Well of course they are," replied ayoung woman in the front row."Thenlet me pass on a lesson from richdad," I responded. "A lesson far moreimportant than investing, but alesson that will make you a betterinvestor nonetheless."
  9. 9. The Punch line•Turning to my flip chart I wrote inquotes, •"Excuses arelies you tellyourself.” •Putting my marker down, I turnedback to the group and paused awhile. Iwanted to let the words on the flipchart sink in.
  10. 10. Fact vs. Truth•“And who has time to look ata hundred stupid properties?"said the young woman who hadsaid she had no time. •Do you know how busy I am? Ihave a business to run and kidsto feed. When I say I donthave time, I dont have time.Im busy. Im not lying.""•"My student loans are a milehigh," said the young man whomentioned his debt problem."That too is a fact, not a lie."
  11. 11. Fact vs. Truth•“All right, rich dads lesson ongrowing up is about to begin," Isaid, smiling. •"Rich dad told me years ago thatif I wanted to grow up to be anhonest person, I had to becomemore and more honest. . . . notstay the same. •In other words, I had to be tougheron myself by being more honestwith myself. For example, when Ipersonally use the excuse I haveno time‘ a more honest andtruthful statement would be that Iam not willing to make the time.
  12. 12. Fact vs. Truth•“All right, rich dads lesson ongrowing up is about to begin," Isaid, smiling. •"Rich dad told me years ago thatif I wanted to grow up to be anhonest person, I had to becomemore and more honest. . . . notstay the same. •In other words, I had to be tougheron myself by being more honestwith myself. For example, when Ipersonally use the excuse I haveno time‘ a more honest andtruthful statement would be that Iam not willing to make the time.
  13. 13. A Tight Game•"So instead of making an excuse youb e c o m e m o r e h o n e s t w i t hy o u r s e l f ? ” a s k e d o n e o f t h eparticipants. "Exactly," I said. "Yearsago rich dad taught his son and methat all excuses are lies."•Upon hearing that the young man satback in his seat and said quietly, "I getwhat youre saying. So growing upmeans not using the facts of our livesas excuses for our lives. If we do thatwe become more honest."•"Youre getting it," I replied. "Insports a person might say that thereferee calls the game tighter. Thatmeans the referee is demanding ahigher standard of play from theplayers.
  14. 14. A Tight Game•What rich dad was saying is thatas you grow up, call your owngame tighter. Be more honestw i t h y o u r s e l f . R a i s e t h estandards on yourself. If youdont, your life stays the same."•"But what about me? I am busy. Ireally dont have any time-especially to go looking at ahundred properties."•I noticed she had dropped theexcuse about being too old. Sinceshe didnt bring it up, I wasntgoing to either. "Then just behonest about it," I said. "Just say,Im not going to make the time."
  15. 15. Grow up• "So all you are saying is stop whining,complaining, and acting like babies.“"Thats a great way of saying it," Isaid. "Grow up and stop acting likebabies. Every time you make anexcuse, youre acting like a baby."• "Well, not everyone is rich like youwith all the free time and money inthe world," said someone from a backrow.• The room groaned with that remark.Smiling, I said, "I would not have thefree time and money if I had letexcuses be truths instead of lies. Itoo started without any money. Itoo had mountains of debt, nearly amillion dollars. And I too am busy."
  16. 16. Grow up•And you would still have thoseproblems if you had used thoseproblems as excuses," said thewoman with no time. •"I get what you are saying. Excuseshold us back. . . no one else.“"Thats correct," I said. "Rich dadoften said excuses are the wordscoming from the loser in you."•"So by being more honest with yourexcuses, that honesty allowed thewinner in you to take over," saidthe woman with no time. •"If you are truthful with yourexcuses, then the loser shuts upand the winner can be heard,"
  17. 17. Grow up•"Exactly," I said. ‘And the more thewinner in you speaks, the more yougrow up. But first, you need to bewilling to call your game tighter andraise your own standards."•"So how can I find more time?" askedthe woman with no time."Greatquestion," I said with a big smile. "Thewinner in you is now talking.“ “ It is?I am?" said the woman with no time inconfusion.•"Sure Instead of complaining to methat you have no time and letting theloser in you speak to you, the winnerin you is asking me how I found thetime. If the loser speaks you learnnothing, but if the winner speaks youmight learn something."
  18. 18. Winner vs. loser•"So that is how you find the moneyeven when you have no money," saidthe man with no money. "You got it," Isaid. "Look, we all have the sameamount of time. We all have twenty-four hours in a day. •A winner just finds ways of makingbetter use of that time and a loserlets not having enough time be theexcuse for not getting things done. •Rarely have I ever invested in apiece of property when I had enoughmoney. And I often have creditproblems because I always want toborrow as much as possible when Ifind a great real estate investment."
  19. 19. Winner vs. loser•"So how do you find the time to look at ahundred properties?" asked the womanwith no time. “Another good question," Ireplied with a smile. •"I estimated that I look at approximatelythree hundred to five hundred propertiesa year. I may nor buy anything thatyear. . . yet I still look. •Sometimes looking at a property may besimply looking only at the sales flyer thereal estate agent puts out on theproperty. •The analysis might take less than fiveminutes of my time. Sometimes I willspend three months chasing one deal andthen have it fall apart. So time isrelative”
  20. 20. Winner vs. loser•"So how do you find the moneywhen you find a deal. . . especiallywhen you do not have any money?"asked the man without money.•"Well that is where right-brainedcreativity comes in. Not havingmoney after finding a greatinvestment is how I gained most ofmy financial education. •Youd be surprised how intelligentyou become when you must useyour creative mind to solvefinancial problems. Solving financialproblems or challenges increasesyour financial intelligence.
  21. 21. Winner vs. loser•I have money today simply becauseI did not let not having money be anexcuse. Even though I had no time,I still looked at property, even if itwas only for a few minutes. •Every time I looked at a property,e v e n i f o n l y f r o m a s a l e sinformation sheet, I would analyzethe deal, working on how I couldturn this piece of real estate into anasset that put money in my pocket. •That is what made me rich. . .money did not make me rich. . .investing time when I had no timeand investing money when I hadvery little money is what made merich."
  22. 22. Truth•"So excuses dont make yourich. Excuses keep you poor,"said the young woman in thefront row;•"Well said," I replied with agreat big smile. The class hadgotten a lesson far moreimportant than how to investin real estate. •I could tell that most of themgot the lesson about theimportance of growing up tobe more honest . . . by beingm o r e t r u t h f u l w i t hthemselves.
  23. 23. Truth•"So excuses dont make yourich. Excuses keep you poor,"said the young woman in thefront row;•"Well said," I replied with agreat big smile. The class hadgotten a lesson far moreimportant than how to investin real estate. •I could tell that most of themgot the lesson about theimportance of growing up tobe more honest . . . by beingm o r e t r u t h f u l w i t hthemselves.
  24. 24. James 1:22-25•(22) But be ye doers of the word,and not hearers only, deceivingyour own selves.•(23) For if any be a hearer of theword, and not a doer, he is likeunto a man beholding his naturalface in a glass:•(24) For he beholdeth himself,a n d g o e t h h i s w a y , a n dstraightway forgetteth whatmanner of man he was.•(25) But whoso looketh into theperfect law of liberty, andcontinueth therein, he being not aforgetful hearer, but a doer of thework, this man shall be blessed inhis deed.
  25. 25. Scripture Luke 14:15-24•16 Then said he unto him, Acertain man made a greatsupper, and bade many: •17 And sent his servant atsupper time to say to them thatwere bidden, Come; for all thingsare now ready.•18 “But they all with oneaccord began to makeexcuses. •The first said to him, ‘I havebought a piece of ground,and I must go and see it. Iask you to have me excused.’
  26. 26. Scripture Luke 14:15-24•19 “And another said, ‘Ihave bought five yoke ofoxen, and I am going totest them. I ask you tohave me excused.’•20 “Still another said, ‘Ihave married a wife, andtherefore I cannot come.’•21 “So that servant cameand reported these thingsto his master.   Then themaster of the house, beingangry, said to his servant,
  27. 27. Scripture Luke 14:15-24•‘Go out quickly into the streetsand lanes of the city, and bringin here the poor and the maimedand the lame and the blind.’•22 “And the servant said, ‘Master,it is done as you commanded, andstill there is room.’•23 “Then the master said to theservant, ‘Go out into the highwaysand hedges, and compel them tocome in, that my house may befilled.•24 ‘For I say to you that none ofthose men who were invited shalltaste my supper.’ ”
  28. 28. "Excuses are lies you tell yourself.”•Every thing they said waspast sense and were facts notlies•18 “But they all with onea c c o r d b e g a n t o m a k eexcuses. •The first said to him, ‘I havebought a piece of ground,and I must go and see it. Iask you to have me excused.’ •Would you buy land withoutseeing it
  29. 29. "Excuses are lies you tell yourself.”•19 “And another said, ‘Ihave bought five yoke ofoxen, and I am going to testthem. I ask you to have meexcused.’•Would you buy an oxen, a caror a truck without testing it?•20 “Still another said, ‘Ihave married a wife, andtherefore I cannot come.’•Why can’t you come to theprogram with your wife?Everything was in the past.
  30. 30. "Excuses are lies you tell yourself.”• We use excuses to justifyactions we know we shouldhave taken or done!• Notice its all about thekingdom• 15 Now when one of thosewho sat at the table withHim heard these things, hesaid to Him, “Blessed is hewho shall eat bread in thekingdom of God!”• In other words this isrelevant to today!
  31. 31. "Excuses are lies you tell yourself.”• 21 “So that servant came andreported these things to hismaster. Then the master ofthe house, being angry, said tohis servant, ‘Go out quicklyinto the streets and lanes ofthe city, and bring in herethe poor and the maimedand the lame and the blind.’• Who in the kingdom are thepoor, maimed, the lame andblind? • (In Israel, The lame and blindwere excluded from thetemple.)
  32. 32. "Excuses are lies you tell yourself.”•This speaks of us gentiles whothe bible says were excludedfrom the covenant of israel.•We are the poor, maimed, thelame and blind.•We got in because of theexcuses of those who werefirst invited.•If we now continue withexcuses in life what do wethink will happen to us.•Excuses will get us replaced
  33. 33. Matthew 16:15-19
•15) He saith unto them,But whom say ye that I am? •(16) And Simon Peteranswered and said, Thouart the Christ, the Son ofthe living God. •(17) And Jesus answeredand said unto him, Blessedart thou, Simon Barjona:for flesh and blood hath notrevealed it unto thee, butmy Father which is inheaven.
  34. 34. Matthew 16:15-19
•(18) And I say also untothee, That thou art Peter,and upon this rock I willbuild my church; and thegates of hell shall notprevail against it. •(19) And I will give untothee the keys of thekingdom of heaven: andwhatsoever thou shalt bindon earth shall be bound inheaven: and whatsoeverthou shalt loose on earthshall be loosed in heaven.
  35. 35. Simon vs. Peter•Luke 6:14 •Simon, (whom he also namedPeter,) and Andrew his brother,James and John, Philip andBartholomew,•John 1:41-42•(41) He first findeth his ownbrother Simon, and saith unto him,We have found the Messias, whichis, being interpreted, the Christ.(42) And he brought him to Jesus.And when Jesus beheld him, hesaid, Thou art Simon the son ofJona: thou shalt be called Cephas,which is by interpretation, A stone.
  36. 36. Simon vs. Peter•According to Matthew, it wasbecause of this confession thatJesus renamed Simon Cephas(in Aramaic) or Peter (inGreek), both meaning “rock.”•Why Jesus called Simon a“rock” is not altogether clear.Peter’s character was notalways rock-like, as his denialof Jesus indicates. His newname probably referred tosomething that, by God’sgrace, he would become—Peter, a rock.
  37. 37. Simon vs. Peter• Every where in theBible he is referred toby his old and newSimon Peter exceptwhen He was sleeping• Mark 14:37 • And he cometh, andfindeth them sleeping,and saith unto Peter,Simon, sleepest thou?couldest not thou watchone hour?
  38. 38. Lessons Learned•1. Are you lying to yourself?•2. What do you want to bewhen you grow up (even if youthink you are already grownup)?•3. Do you make excuses aboutnot having enough time ormoney? •4. Excuses are lies you tellyourself. Make a sign with thissaying and post it where youwill see it daily: "Make aneffort, not an excuse."
  39. 39. Lessons Learned•5. Review your negativethoughts in the suggestedexercise and decide if anyof your negative thoughtsare really excuses.•6. Challenge yourself to find aminimum of five hours a weekto devote to building your ark.•7. Make the five-hour exercisea personal commitment or afamily activity. Walk, bike, ordrive neighborhoods looking atreal estate.
  40. 40. Lessons Learned•Visit a real estate broker toinquire about investmentproperties. Spend dinner onenight a week discussing newbusiness ideas. •Attend franchise shows in yourarea. Attend local seminars onreal estate, building businesses,or investing in the stock market.•8. Decide which asset class youwant to start with: business,real estate, or investing instocks and/or options.
  41. 41. Song: The Wedding Banquet• Chorus: I cannot come tothe banquet • Don’t trouble me now• I have married a wife• I have bought me a cow• I have fields andcommitments that cost apretty sum• Pray, hold me excused, Icannot come.
  42. 42. Song: The Wedding Banquet.v1• A certain man held a feast• On his fine estate in town• He laid a festive table• And wore a wedding gown• He sent out invitations• To his neighbours far and wide• But when the meal was ready• Each of them replied• “I cannot come”.
  43. 43. Song: The Wedding Banquet.v2•  The master rose up in anger• Called his servants by name,said• “Go into town; fetch theblind and the lame• Fetch the peasant and thepauper• For this I have willed• My banquet must becrowded• And my table must befilled”. • I cannot come.
  44. 44. Song: The Wedding Banquet.v3• When all the poor hadassembled• There was still room to spare• So the master demanded • “Go search everywhere•To the highways and the byways• And force them to come in• My table must be filled beforethe banquet can begin”.• I cannot come.
  45. 45. Song: The Wedding Banquet.v4• Now God has written alesson• For the rest of mankind• If we’re slow in responding• He may leave us behind• He’s preparing a banquet• For that great and gloriousday• Be certain not to say• “I cannot come”.

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