North Platte, NE
How young of an age do you think a child would be able to read
and understand the book you recommended (Rich Dad, Poor Dad:
What The Rich Teach Their Kids About Money That the Poor and
Middle Class Do Not)?
Vance in Hong Kong
people who are the least qualified to give financial advice
(i.e. Broke People) are the most insistent on giving it, I
recommend getting your kids to read the book as soon as
possible, to start them learning from someone who is highly
Even if they pick up just one nugget, it can
change their lives forever. Years ago, I paid my teenage nephew
$100 to read and give me a book report on another of my
favorites, "The Millionaire Next Door" by Tom Stanley.
apparently went in one ear and out the other, because he's a
chronic spender now in his twenties and in more debt than Greece.
But his younger brother, who was 9 at the time, picked up on it,
became a saver, and paid $5,000 cash for his first car when he
Thanks for your question
- Glenn in Nashville, TN,
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Business is all about
Who is supposed to serve whom is revealed by
following the direction the money flows.
serve their company because their company pays them to do it.
Companies must serve their customers because their customers pay
them to do it.
But that doesnít mean you want everyone to
be your customer.
One of my Priority Club members who
works in healthcare recently told me they had to ďfireĒ a
patient because he missed numerous appointments, yelled at her
staff when he finally did show up, and didnít pay after he was
This unfortunately happens in every industry,
and is especially dangerous when a small business owner is
scared to offend a customer. These folks miss two basic facts of
1. Customers are not customers until they pay.
2. Even when they do, you canít make all the people happy
all the time.
In order to succeed in business, you must
have clarity of purpose.
The purpose of a for-profit
business is not to serve everyone, and itís certainly not to try
to make all the people happy all the time.
The purpose of
a for-profit business is to make a profit, which is done by
serving its customers. The more successful a business is at
serving, the more successful it will be at making a profit.
But some customers are so hard to please that even the
greatest service in the world wonít make them happy. While it
might sound admirable that a company tries, itís a very
expensive exercise in futility.
The company will lose far
more than the time, revenue, and frustration the customer consumes.
The problem customer will also distract the company from serving
As Iíve said in countless seminars, a
High Maintenance Employee whoís good at what they do but sucks
up too much of your time and energy is not a good employee; heís
only a good worker. In order to be a good employee, he has to be
good at what he does, and be reasonably easy to manage.
By the same token, a customer that sucks up so much of
your time, energy, and other resources that they cause you to
lose money is not a customer.
He's a liability, and
profitable businesses have to reduce liabilities as much as
To Your Success,
The part about employees serving
their companies comes as a surprise to many job applicants, who
think the company should serve them. Managers whoíve attended my
seminars from California to New York tell me about
entitlement-minded job applicants who come to an interview with
a list of demands, from getting off early for hot yoga to
expecting six weeks paid vacation after working for three
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