You can become rich beyond your dreams

Over the years, rich spent a substantial amount of time teaching his son and how to work and deal with different types of people. Rich often had his son and sit as he interviewed people. Learning how to hire and fire people was in interesting learning process, especially when rich was hiring and firing. Rich were teaching his son how to deal with different types of people was one of the most important educational head starts he could give us. If you can work with different people, you can become rich beyond your dreams.

The world of business is make up of four different types of people. The E quadrant represents employees, the S represents small business or the self-employed, B quadrant represents the business owner and I quadrant represents the investor.

The primary point of this diagram was that people from the different quadrants are different at the core. Rich would say, to be successful in the B quadrant, you need to know how to communicate with and work with people from all quadrants. It is the only quadrant that absolutely requires that ability. One of the reason so many businesses fail is because the entrepreneur is often unable to work and get along with different types of people.

A company got into trouble due to a single decision by the CFO. This decision has left the company deeply in debt and about to go bankrupt. After the meeting began, rich asked the rest of the board. Why the CFO allowed to make such a big financial decision without checking with the board.

The answer from another board member was, because he was a senior vice president of XYZ Giant Oil Company.

Rich raise his voice and said, so what? So what if he was at one time a senior vice president of large oil company?

Well, we thought he know much more than we did. So we let him act on his own, said another board member.

Rich rapped his fingers on the table and then said, he may have been a senior vice president, but he was still an employee for 30 years. He was an employee of a large company. He has not a clue on how to run a small stat up business with a very limited budget. I would recommend you replace him, preferable with someone who owned his or her own company and has had full financial responsibilities, even if it was not an oil company. There is a very big difference between an employee and an enterpriser, regardless of what industry they come from. There is very big difference between running a small company and a big company. In a big company, a mistake of this size does not hurt the company. In a small company, a mistake of this size destroys the company.

The company eventually went bankrupt. I asked rich why it finally went done. He said, the company was grossly mismanaged from the board of directors on down. Although the company had hired great people and pad them a lot of money, those people never became a great team. Successful entrepreneurs

create great teams. That is whom they compete with big companies with more money and more people.