October 2009

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millionairezone

I’ve been doing quite a few book reviews recently on this blog but that’s simply because I checked out a bunch at the library recently. I’ve just finished reading Millionaire Zone, The: 7 Winning Steps to a Seven-Figure Fortune. This book is by author Jennifer Openshaw, a successful financial advisor who worked her way up from a motel maid to the entrepreneur she is today.

It’s All About Networking

The majority of the book is about networking. Most people (myself included) are under the impression that starting a business has to be done on your own without any help. However, Jennifer makes a point to utilize the people around you to help you on your way. Your network can be made up of family, friends, community, and people that you come across. In fact, the entire first half of the book stresses how important it is to have a solid foundation of people to network with. She also shares some really inspirational stories of millionaires that started out with next to nothing but used their resources (network) to grow their businesses.

The type of help from your network is not about just financial help but even basic things like product testing, opinions, or even learning how to do specific things.

What I Found More Interesting

I have to admit, the first half of the book did tend to seem somewhat repetitive in regards to using your network, however, the way she blends in the personal stories of others kept the reading interesting. I felt the more interesting content happened towards the end of the book when she began giving action steps for financing your start-up and ways to get out of debt (as debt is what usually holds people back.)

Overall, there is a lot of good advice given in the book. It’s not a bad read if you are seeking to start a business of your own.

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robert_kiyosaki

I’m a big fan of reading books about finance, business, and personal development. I think all topics are extremely important for anyone that wants to be self-employed. This past weekend, I read Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not! by Robert Kiyosaki and really enjoyed it. It has been one of those books that I’d been wanting to read but never got around to it. Recently, while browsing the library, it was finally available.

It’s a small book (around 200 pages or so) so if you’re a fast reader, you can easily finish it over a weekend. The book starts out telling a story about growing up with his educated dad (his biological father) and his rich dad (his friend’s father.) The difference in beliefs between the two dad’s when it comes to money is what makes it a great book.

The educated dad believes strongly in getting an education, securing a good job, and retiring after 30 years. The rich dad knows that you won’t get rich working for someone else. He teaches about how to create ways to make more money without depending on a job as well as the importance of buying assets (stocks, bonds, real estate, etc.)

The book also goes over the mentality of most people when it comes to money and spending. I could relate very well as I am one of those who has spent plenty of money on liabilities rather than assets.

One of my favorite parts of the book was the section which covered corporations and the advantages of having one. I know there is some controversy surrounding the teachings in this book but overall, I thought Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not! was an informative read and good for everyone to read – not just those who wish to be self-employed.

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