05.01.08
Rich Dad, Poor Dad & Internet Marketing
Recently I picked up a copy of Robert Kiyosaki’s book “Rich Dad, Poor Dad” from my library. I had read this book while in college, but I thought it deserved another read. For one, I didn’t remember much of it and hence didn’t know whether I was practising what it preached. And secondly, I heard a friend of mine raving about it. Well, anyways, I went ahead and picked up a copy.
It turned out to be a good decision. I was able to relate to everything this guy talks about. And he is just too good. No wonder he sold millions of copies.
If you haven’t read this book, let me tell you real quick - through out the book, Robert Kiyosaki stresses the importance of ‘income producing assets’. Assets that give you a passive income over and over again. The idea is that once your ‘income producing assets’ give you enough residual income to meet your expenses, you become ‘financially free’.
You see, there is no rocket science here. So you must be thinking how all of this is relevant in the Internet Marketing world.
It’s quite simple really! All of your activities - whether its blogging, affiliate marketing, lead generation, pay per clicks - all these are investments that we make in our business. Now, this could be an investment in terms of money or time.
After reading ‘Rich Dad, Poor Dad’ it became quite clear to me that all my investments in Internet Marketing should be targeted at generating a recurring or residual income. So, for example, if I promote a product as an affiliate, I should pick those products that give me a recurring income. This means I should be promoting membership sites rather than stand-alone products. Or, another one - if I create a blog, I should optimize it and take it to a level that it gives me X amount every month. And then I move on to creating more such blogs.
The idea is to create a passive income, to create ‘assets’ that pay you every month - without you doing any additional work on it. And once this residual income outgrows your expenses, you become financially free.
I have started making some changes in my business model - changes in tune with Robert Kiyosaki’s teachings in ‘Rich Dad, Poor Dad’. Of course, its not possible to change overnight.. it will take a few months to be 100% Rich Dad compliant 
but I am trying to get there.
It’s an impressive book and the teachings are totally relevant in the world of Internet Marketing. If you haven’t read it yet, I suggest you pick up a copy.
Kurt Schmitt said,
May 3, 2008 at 10:10 pm
Actually, there’s a very simple business model for the Internet that fits right in line with Kiyosaki’s ideas. Of course, in order to embrace these principles, you have to stop chasing the latest product launches and all the “quick fix” make cash now junk.
Here it is: focus on creating x number of pages of content that create an income of x amount per day each. If your target is $1 per day each, and you create 1,000 pages, then that is $1,000 per day. If it’s 50 cents, then that is $500 per day in income. You can adjust this formula to meet any market’s limitations. Your market doesn’t support 50 cents per day but does support 25 cents? Great! Then create 2,000 pages and you’ll still make $500 per day. It’s totally scalable and totally doable. That’s it. No magic, no “secrets” and no chasing somebody else’s dream or lining someone else’s pocket with money.
Ivan said,
May 4, 2008 at 7:51 am
Hey Alok,
great post here… just made me think about what i should be doing in my business… Creating long term passive income that will give u money every month.
However, i am thinking of using internet marketing to find my first pot of gold before using that $ to invest for higher return and hopefully make me passive income.
What do u think about this strategy?
Regards,
Ivan Ong
Nagarajan Vaitheewaran said,
May 4, 2008 at 7:53 am
Hi Sir
I saw your blog. It is very nice to see
Nagarajan
Roy Sencio said,
May 4, 2008 at 7:58 am
HI Alok,
Thanks for sharing your insights about the book, while I have heard many good things about it, I have not yet come around to read it. I hope to soon.
Roy
Davion | Secrets of Affiliate Marketing said,
May 4, 2008 at 8:01 am
Hi, I read a couple of his “Rich Dad Poor Dad” series of books. They are fantastic and yes, Robert Kiyosaki emphasizes alot about building income producing passive kind of income streams. I fully agree.
Even in the online marketing world, I find that at some point of time, we need to evaluate and ask ourselves how much are our Virtual Real Estates worth today if we are to sell them. I guess many marketers do not see that yet and are only looking at how much money they can make per day. It is still kind of short-term thinking.
Vikash Kumar said,
May 4, 2008 at 8:16 am
Dear Alok,
Thanks for reminding us about this great book “Rich Dad Poor Dad”,
Best of Luck,
Vikash Kumar
Janja Bacac said,
May 4, 2008 at 8:21 am
Hi Alok,
it is good to know that somebody still reads quality books in todays flow of so called “bestsellers”. I came across Rich Dad, Poor Dad this February and it really made me think. I only wish I read it sooner. There are two other books written by Robert T. Kiyosaki I highly recommend - Cashflow Quadrant (this one was actually written before Rich Dad, Poor Dad) and Why We Want You To Be Rich, which was written in collaboration with Donald Trump, another man we have a lot to learn from. I am looking forward to read your opinion about them, too.
Janja
Kristi Sayles said,
May 4, 2008 at 8:25 am
Hi Alok,
I love Rich Dad Poor Dad. For those who don’t like to read or
just don’t have time to cuddle up with a good book, I highly
recommend getting the audio version to listen to in the car.
That’s what I did. It’s well worth the small investment. It’s an
interesting story with a lot of powerful teachings for those who want
more from life than the rat race offers.
BTW. I’d like to invite you to be on my online teleseminar show.
Contact me about it if you’re interested.
Thanks!
Kristi Sayles
Chuck Bartok said,
May 4, 2008 at 8:28 am
Great post regarding Kiyosaki’s Book.
He has done a wonderful job bringing the Master Key and the Science of Getting Rich into modern vernacular.
Making money is easy.
Building wealth takes focus
We quit paying Interest 45 years ago.
Rather collect it.
You and readers will enjoy listening to the 145 plus episodes
of our Live Talk Show
Blog Lady Dee said,
May 4, 2008 at 8:31 am
Hi Alok,
I make it a practice to revisit the *classics* of marketing and wealth building every couple of years. Every time I take something new away. As your business changes and grows, certain things that whizzed over your head the first (or the third) time suddenly become clear. Rich Dad Poor Dad is one of those onion type books. When you reread it, you begin to peel back the layers and get a deeper meaning based on the experience you’ve gained since the last read.
Alessandro Zamboni said,
May 4, 2008 at 8:57 am
Hi Alok,
thank you for your post.
I think only that’s too late for joining Internet Market for any new user…
Too many people interested.
Google Adwords is too expensive, the traffic exchanges is not working at all and every day new sites are borning claiming dollars free.
I launched also more than 150 email campaign receiving no one Free Joining at any of the sites I have submitted.
No way to get any referral, I will close the door to internet marketing.
Thank you for all Alok, bye bye to all…
charles chan said,
May 4, 2008 at 9:09 am
Hi Alok
Your blog should brighten up with matching colour to be looking more lively . But anyway it is better than the previous one.
I did not read the book by Robert Kiyosaki, but I am thinking promoting continue income products that generate on every months. It will be better as there are income so to give yourself more time for other sources. What you think of it.
yusran said,
May 4, 2008 at 9:19 am
I like the idea of passive income every month but don’t have it now. I work hard to get it by selling website.still no money coming into my pocket.just passive lost of money every month in google adwords.may be i have to learn more..
Venkataraman Iyer said,
May 4, 2008 at 9:26 am
Hi Alok,
Thank you so much for posting a great page about Robert’s bokk
“Rich Dad Poor Dad”.
Since I am a network marketer, this one along with books such as
Who stole the great American Dream, Chicken soup for souls are the
bibles for Network Marketers. I had read it a couple of years back.
But thanks once again for reminding me. As you said the book needs
a read again to hone the skills of creating assets that reward you
perpetually.
Please do continue to post pages like this one. Very interesting.
So long until we meet again in another great posting.
Venkataraman Iyer
Sara Howard said,
May 4, 2008 at 9:38 am
People making money on the internet? Ha! Ha!
Newbies are inundated with the “latest, greatest” product that costs gadzillions of dollars and soon everyone is broke or in horrible debt. These IMs are marketing to (they think) the fools and idiots who will buy anything. Pretty soon everyone has a roomful of stuff they will never read or use so it piles up. Put it in the recycling bin and say to yourself, “don’t buy any more damn thing”.
The way to money is in the doing and a good mentor. The rest is B.S. It also takes HARD work. There is no free lunch and no INSTANT miracle.
Charl Heydenrych said,
May 4, 2008 at 10:05 am
I have not read the book yet - I’ll be doing so now! Thanks
kelly said,
May 4, 2008 at 10:12 am
I read it a few years back. You still need some savings to start investing. Most of such books offer good insight into “case studies” and true and real scenarios so you can apply the “theorotical” principles to what you’re doing.
Sometimes, old books are good but one is never enough….the market need more such books….perhaps those by new authors who care to share their experiences.
Pete K said,
May 4, 2008 at 11:42 am
Robert Kyosaki is a totally self made success, he started out as a commission salesman in a very tough environment, with only his “Rich Dad’s” guidance and his own belief in himself. Today he is one of the world’s greatest success stories.
His books tell us to re-think our values. He promotes “Business Ownership” as the ultimate wealth vehicle.
His business plan fits in perfectly with either internet marketing, affiliate marketing, or network marketing. They are all ideal ways of implementing Robert Kyosaki’s teachings. In fact his teachings are an excellent means of redressing one of the great inconsistencies of our online world, wherby the Big Names seem to have all the answers, whilst the little guys/gals are still searching for the questions. Which brings me to a question I would like to pose:
Is the “Guru Circus” a closed shop, or can even today’s little guys/gals aspire to one day being invited to join?
Best wishes and good marketing to everyone.
Pete K
“Lets hear it for the little guy/gal”
Niche Traffic said,
May 4, 2008 at 1:38 pm
I read Rich dad poor dad a couple of years ago and bought the choose to be rich audios. They are very good for getting in the right relationship with money and how best to go about getting it
Not really a how to do it guide but very good for motivation
American Horse Racing System said,
May 4, 2008 at 1:53 pm
I totally agree with finding recurring and residual products to promote, but the truth is- really good ones that produce are difficult to find. Is this just me? It seems a lot easier to sell a “quick fix” ebook than a long-term membership because the typical buyer’s mentality is set on NOW and not the long run. Anyone disagree? Alok? I’m curious if its just me that feels this way.
Angelo Costantino said,
May 4, 2008 at 2:09 pm
Hi Alok
great post this one!
I didn’t read this book, but I have literally devoured another one of Mr Kiyosaki, “Business School: For People Who Like Helping People”.
He also recalls some of the principles presented in Rich Dad Poor Dad.
I suggest this book to those of you who, just like me, are not only looking for a way to get rich online but also for a “business with a soul”.
Mr Kiyosaki repeatedly specifies that, even if he didn’t get rich in this way, he found himself very close to the network marketing business.
On page 153 Mr Kiyosaki says:
” If you have big dreams for your life, and you would like to help others achieve their big dreams, then NETWORK MARKETING is surely right for you. This is hugely worthy: a business and people who help others achieve their dreams”.
He then describes a lot of benefits coming from joining the right network marketing company, and he says that the number one thing you should look upon is the company’s education program.
As he said on page 54, if you find a network marketing company you’re interested in, evaluate how much of the following points you could improve by joining them:
1. your success-oriented attitude
2. your leadership skills
3. you communication skills
4. you relationship skills
5. overcoming your personal fears, doubts and lack of self-esteem
6. overcoming your fear of rejection
7. your money management skills
8. your investment skills
9. being in charge of your life
10. your time management skills
11. your goal setting skills
The more you can learn from running the business, he said, the more benefits you’ll have in each area of your life, not only the business one.
Alok, I’ve bought Mr Kiyosaki’s book right after joining a network marketing company, and I felt so happy and confident with my choice as I discovered that all the benefits listed above are part of my current business training
3 years ago I spent 3 months at the Indian Institute Of Management in Ahmedabad (India) and I remember that the best students of my class were reading and studying Rich Dad Poor Dad more or less as a bible..
At that time, I had no entrepreneurial mindset, but today I understand why Mr Kyiosaky’s principles are so powerful and worthy for everyone seriously committed in improving his vision upon business and life too.
Mr Kiyosaki knows true wealth and I thanks him for sharing his knowledge in his precious books.
God bless him
Angelo Costantino
Free Targeted Traffic said,
May 4, 2008 at 2:30 pm
Definitely some good ideas here, Alok! Thanks for giving me more motivating ideas - as I’m currently much more focused then before.
I believe in making more residual income streams, and recurring ones are among them.
Marian
Mike Serovey said,
May 4, 2008 at 3:54 pm
Hi Alok,
I first learned about Rich Dad, Poor Dad from a series of cassette tapes that I got from Time/Life. I bought several other books written by Mr Kyiosaky from Amazon, but have yet to read them. I think that it is time that I do that now and apply his principles to my online efforts.
Alex said,
May 4, 2008 at 5:53 pm
Robert’s Rich Dad Poor Dad philosophies a fine, if you want to live in a world that can’t breath, a world that has no clean water where over 5 million people die of hunger every year.
If you feel Rich Dad Poor Dad was a good read, get hold of a copy of GRUNCH of Giants by R Buckminster Fuller and find out the truth.
Buckminster Fuller (www.bfi.org) was awarded the Congressional Medal (highest civil award in USA), wrote over two dozen books and was awarded 47 honorary doctorates. John Denver coined him “The Grandfather of the Future”.
Sure, Rich Dad Poor Dad may help YOU become financially free … Buckminster Fuller’s work will help us ALL be free.
Kim Dandry said,
May 4, 2008 at 8:04 pm
Hello Alok,
Thank you for the excellent review of Rich Dad Poor Dad - sounds like a book I really need to read at this point. With all of the material available on the net today, it is quite difficult to decide exactly where to start. You have helped me tremendously with my decision.
To massive success for all,
Kim L. Dandry
thriftsolutions said,
May 4, 2008 at 8:38 pm
Hi Alok..
enjoyed reading ur post as always.
I read Rich Dad Poor Dad many many yrs ago…but did not complete it coz got quite bored with it, as he seems to repeat the point over n over again..and I think the book could hv been written in less pages than it currently is.
But i’m glad to read your post and see how its related to Internet Marketing.
And I’m glad that I read it whilst I’m just starting out…meaning I can start focusing my startegy more on recurring passive income.
thanks for the enlightenment
-thrift solutions-
Rafael | Rafael's Internet Marketing blog said,
May 4, 2008 at 8:56 pm
I think the best advice on this page, was given by Kurt. The only problem is how do you create those pages. How do you research the topics, etc. to put on those pages, that’s the rub.
Big Band Charts said,
May 4, 2008 at 9:33 pm
I read Robert Kiyosakis books a couple years ago and it just reinforced what I already knew, but did it in a very simple way. I was always intrigued by doing work one time and getting paid over and over again for many years into the future.
You don’t just have to think websites and web pages though to bring in income over and over again. You can create ebooks, or courses, or membership sites, etc. In my case I write jazz music for big bands and stuff I wrote 15= 20 years ago still brings in money to this day. I had no idea the internet would come around, but thankfully it did. I can now market to the whole world virtually for free.
We have never lived in a better time to create assets that will pay us for many years. Just go out and create some value for people and it will come back to you.
Todd 'Gold Bullion Coins' Casey said,
May 5, 2008 at 12:01 am
Hey,
I agree with you, Robert Kiyosaki offers some good advice. It may be too basic for a lot of people, but it opened my eyes a bit.
My best take-away from reading his books has been to focus on acquiring and creating assets, rather than wasting money on ’stuff’.
I also found his game, Cashflow 101, to be a pretty good beginner’s business-mind trainer.
Ameer said,
May 5, 2008 at 2:57 am
Hi Alok
Enjoyed reading yr post and thanks for the insights on the book.
It gave me a better view of the big picture…looking forward to more of your posts
cheers
Ameer
powerbiz said,
May 5, 2008 at 4:41 am
Hi Alok,
Thanks for reminding me of such a lovely book. I had read it about 4 yaers ago when I was into MLM and almost forgot about it. I shall bring it out of the self one more time to read it.
I fully agree with Sara Howard there’s “No Free Lunch” anywhere. Neither in Internet marketing nor in brick and mortar business. Only hard work pays. Thats what I try to bring it up in my blogs. [snip: no self promo pls]
All the best and thanks for reminding me of such a lovely book.
powerbiz
Mike Ndegwa said,
May 6, 2008 at 2:46 am
Hi Alok,
I agree on having assets that give passive income and creating more of membership sites than one off products.
people go to the internet to get information. Period!
Your online business better be that that gives the right and updated information and products to the target clientèle.
At mikes notice I teach my readers to live purely on profits by spending less on investing on ongoing projects rather than those midnight projects that if you don’t join or buy your heart might skip.
Also would like to highlight on the irresponsible means being used by SEO companies to drive traffic to ones website. We need customers not “traffic jam”
I would rather write A POST That will be timeless and attract an average constant traffic over time than break the news and be irrelevant in 2 or 3 days.
Also for those who want to fight the email harvesters I just got the anti dote for that on my blog.
Bendz said,
May 6, 2008 at 7:01 am
Hi
Good post. I think I must implement this strategy in my blogging.
Neat post.
khadija said,
May 8, 2008 at 11:58 am
its good
Anil Kumar Sharma said,
May 10, 2008 at 10:02 am
Hi Alok,
You have written a wonderful post on passive income. “Rich Dad, Poor Dad” by Robert Kiyosaki is a marvelous book to read. Though I have not read his books but over the internet I came across many videos of Robert Kiyosaki. I have compiled few good video. Go Through these Videos.
Check http://www.RichDadPoorDad.co.nr/
I’m already into a company where we deal with internet technology to make money and the mode of income is based on passive income. One can do this business all over the world.
And its an online business.
Cheers
Anil
DreamGiver said,
May 12, 2008 at 9:34 pm
Hey Alok,
You always post very useful information and tips. Cant wait for your next post.
Cheers
DG
Bryan Hee said,
June 26, 2008 at 3:00 pm
One of the principle of Rich Dad Poor Dad is Master A Formula and then Learn a New One.
I’m strongly agreed with him especially in affiliate marketing. We need to “focus” on one business model and profit from it then jump to another business model.
Other then that continuous learning is key factor for us to success in the affiliate marketing.
To Your Success
Bryan Hee
charlesbrooks said,
January 6, 2010 at 11:36 pm
Affiliate Marketing is a performance based sales technique used by companies to expand their reach into the internet at low costs. This commission based program allows affiliate marketers to place ads on their websites or other advertising efforts such as email distribution in exchange for payment of a small commission when a sale results.
http://www.onlineuniversalwork.com
soamie said,
January 8, 2010 at 3:27 am
Affiliate Marketing On The Internet
Affiliate Marketing is a performance based sales technique used by companies to expand their reach into the internet at low costs. This commission based program allows affiliate marketers to place ads on their websites or other advertising efforts such as email distribution in exchange for payment of a small commission when a sale results.
http://www.onlineuniversalwork.com
kiramatalishah said,
January 11, 2010 at 2:56 am
How To Make money with affiliate programs Today. Affiliate marketing is the easier and probably the most effective method to make money from the internet. It is basically, a kind of selling technique where potential buyers from your website are directed to the websites of sellers. For every click, the website owner gets a small commission.
http://www.onlineuniversalwork.com
henrylow said,
January 13, 2010 at 6:41 am
a fact: if you want your website to make you money, generate leads or get subscribers you have to advertise in order to drive traffic to it. Of course this is true for any business, but it is absolutely essential for online business.
http://www.onlineuniversalwork.com