All entries are based on my experiences and opinions.
Friday, June 22, 2007
Tuesday, June 05, 2007
How to make $1000 / month in Quixtar?
Monday, June 04, 2007
He has written 18 books which combined have sold over 26 million copies
Three of his books, Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing, have been on the top 10 best-seller lists simultaneously on The Wall Street Journal, USA Today and the New York Times.
His history in Wikipedia
Kiyosaki left the Marine Corps in 1974 and got a job selling copy machines for the Xerox Corporation. In 1977, Kiyosaki started a company that brought to market the first nylon and Velcro "surfer" wallets, which grew into a moderate success. In the early 1980s Kiyosaki started a business in which he licensed T-shirts for Heavy Metal rock bands but the business failed and he allegedly had to declare bankruptcy and ultimately became homeless.
Kiyosaki became active in a personal growth seminar, called "Money & You", which was started by Marshall Thurber. These 3-1/2 day seminars were taught around the US and Canada. The premise of the seminar was teaching the works of Buckminster Fuller and promoting the concepts of win/win and personal responsibility. When Thurber gave up the business in 1985 Kiyosaki took over the seminar business with Thurber's former partner, D.C. Cordova. They taught the course to a large number of students primarily in Australia and New Zealand. In 1994 at the age of 47 he shut down the business because of adverse publicity in Australia and "retired". Around 1996–1997 he formed Cashflow Technologies, Inc. which operates and owns the Rich Dad (and Cashflow) brand.
So he failed in business in eighties, started seminar business motivating other people and became successful. Good for him.
Criticism (Source: wikipedia)
Detailed analysis of public records (including SEC and county registrar of deeds) find no evidence to support Kiyosaki's status as a successful investor and businessman prior to the formation of his present venture, Cashflow Technologies, Inc. They claim that his wealth has come as a result of selling books and audio presentations about topics he has not personally succeeded in and that he is probably worth far less than the US$50 to US$100 million he once claimed in an interview.
Kiyosaki's books and teachings have been criticized by some for having anecdotal lessons, but lacking concrete advice on what exactly one should do. Many readers find his work highly motivational and educational, but some find it lacking information to put it to use. Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money, rather than a step by step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.
Am I stopping you to read his books or causing it completely useless? HECK NO! They're what they are: Motivational material. They've been best sellers. But so are Lord of the Rings and Harry Potter.
They may motivate you and bring great success to you. But I'd rather read books with technical content on it, some thing more than "motivation".
Please let me know if any of above is not correct. I'll update it and I'll encourage you to update wikipedia as well if you have solid facts contrary to what is there.
Saturday, June 02, 2007
People over 65 are either dead or broke dead
A myth spread by many IBOs, on and off stage. I heard it may times. Scott Larsen of Amquix.info has published this research
Myth: According to the American Bankers association 95% of all people retiring at 65 are either dead are broke.
Truth: Many lines of sponsorship want to scare the prospects with the "retirement statistics". Many groups have repeated the line above and World Wide Dream Builders puts something similar in their "private franchising" brochure. They state that according to the Social Security Administration, people reaching age 65:
23% still working
30% dependent on charity
45% financially dependent on relatives
2% are financially independent
The source of the "American Bankers" statement above had alluded me. This topic came up on the QuixtarNow Blog with a link to a January 30, 1935 article from the Senate Finance Committee where the actual basis for this claim can now be found. Interesting is that the statement was made even before the Social Security Act was signed into law in August of 1935. It seems unethical to me that these Amway organizations would continue to quote an 80+ year old survey in light of the fact that many things have changed to improve the incomes of retirees. Since the article was written in 1935 such things as Social Security, corporate pensions, 401K plans, IRA's, Roth IRA's and annuities have improved retirees' incomes significantly.
Data from the IRS suggest that this common myth of Amway and Quixtar distributors is very untrue 80+ years later. The data show that 50% of all retires have incomes greater than $20,000, and 20% have incomes greater than $40,000. About 5% had incomes over $100,000/per year. If any income under $100,000/year classifies you as "broke", then the distributors' claims are true.
Friday, June 01, 2007
AMOs teachings are same or different?
My fellow blogger "insider" posted
So of 900,000 IBOships in Quixtar, there's something like 450,000 people attending seminars. 450,000!
That's a big number. That's a VERY big number.
When I point out to "critics" that perhaps their experience is not the most common experience, or perhaps not as widespread as they think, they'll often retort something along the lines of "I heard this taught at a seminar with 10,000 people!"
10,000 people is a big number, a VERY big number.
But it's only 5% of 200,000.
10,000 people sitting in a seminar being told something "wrong" or against Quixtar rules or whatever is a lot of people. But it's still less than 1% of all IBOships, and it's even only a tiny number of active IBOs who are attending seminars.
10,000 seems a BIG number - but put it in context, it's not. Don't get me wrong -it's still a lot of people, and if people are being taught or told "the wrong thing", well, one is too many! But for every IBO or former IBO out there, our experience, our context, is tiny compared to the reality of the Amway/Quixtar world. It's bigger than you think. WAAAYYY bigger than you think.
What he "missed" is, not all critics attended same seminar. If I attended one, Joe attended another, It's 20,000 now.
It takes 450,000 / 10,000 = 45 people, one from each seminar to compare notes and come to conclusion how similar or different teachings are. Assuming a major seminar has 10,000 attendees and there are total 450,000 IBOs attending seminars.