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Gurus Rarely Practice What They Preach
So which came first? The chicken or the egg? The age old question as it relates to financial gurus is a question of controversy.
I recently spent an hour watching CNBC’s “The Millionaire Inside” which had 4 “experts” touting their advice to an eager and impressionable middle-class audience. One of the four experts was Robert Kiyosaki, author of the best selling book “Rich Dad Poor Dad”. I read this book years ago and do think it is a worthwhile read for those striving to hit a Fastlane. I do, however, have to voice my umbrage to the illusion being perpetrated.
What concerns me about Robert Kiyosaki is this: He is perceived to be a financial expert by millions. I beg to differ.
During the show, Robert Kiyosaki braggadociously flashed his American Express Centurion Card to audience. This card is also known as the “Black Card“. Personally, I refer to the card as the “Rapper Card” as it is likened to be brandished by high profile rappers and entertainers. The Black Card is the credit card with Rolls Royce like status — in order to be eligible for the card, you need to spend $300,000 yearly. I also have a Black Card and it is quite the status symbol — like taking your Lamborghini into a restaurant or wearing a $200,000 timepiece.
So fast forward further into the segment and Robert drops a line about owning a Lamborghini.
I also own a Lamborghini so I found these expositions of extravagance ironic, yet disingenuous. Why? Isn’t Robert Kiyosaki just displaying the fruits of his teachings? Yes and no.
Yes – Robert is an example of building a cash-flowing asset that is worth millions. That is Fastlane.
But here is the NO and it poses the question of the decade for Mr. Kiyosaki:
Which came first? Your black card and your Lamborghini? Or your book?
I don’t know the answer but I will make a surefire speculation. Robert’s best selling book came first — then came the Black Card and the Lamborghini. One gave way to the other.
If true, what does this tell you?
Could Robert have afforded these icons of status “pre-book”? Or, did the process of selling books give him this opportunity? Things that make ya go “hmmmmmmmm”. I’d say Robert isn’t an expert in finance or real estate, but an expert in selling books, tapes, seminars, and games.
Pick a guru. Any guru.
Now speculate on that guru’s net worth. Then speculate on how much money they actually earned selling books and how much they earned practicing what they sell. I will bet you the ratio is at least 20:1. If your guru is worth $50 million, I’d guess $45 million was from book sales, not the strategy being espoused.
This makes Robert an expert in marketing books and tapes — by all means, he is an expert to ME. I should listen to him. I am aspiring to write a book and sell it. It doesn’t make him an expert to you it makes him an expert to me — but only to a specific discipline that made him rich – and that is selling books.
As for my book … my book will be AFTER the Black Card and AFTER the Lamborghini. The strategies I disclose in my book gave me the financial resources to possess these items – a total recipe. I will not use my book to buy my first Lamborghini. I will not use my book to make me eligible for the Black Card. I have them and I want to tell you how I got them — I won’t sell you the slowlane while I get richer in the Fastlane.
FASTLANE ACCELERANT
Book writing is Fastlane and the guru’s know it. I know it and now you know it.
Whether I sell 10 books or 1 million, my book is a product of what I do — you can be assured that I write about a true Fastlane strategy — not another dog-and-pony show galloping the greased and inclined slowlane. Preach what you write … not get rich off it.
Peace,
MJ
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When I was in my 20's, they laughed and said I was nuts. "MJ! You're dreaming!" Then, I got the last laugh. I retired in my 30's and now live a dream. Those same people now whore their life away for a paycheck only to reclaim their salvation on the weekend. With a correctly executed Fastlane plan, everyday of your life can be your weekend.
Bravo for unveiling the wizard behind the curtain. While I agree with all the principals found in Rich Dad, Poor Dad, at the end of the day they are only foundational. Your fastlane principals are the next step to true wealth acceleration, and I can’t thank you enough for beautifully articulating what so many of us out there had always “felt” was the real road for any viable entrepreneurial pursuit.
I find his book is a great fire starter, nothing more. It was the spark for me, but I soon realized its mostly rara fluff. Good post MJ.
Hellz yeah! Awesome article, and I’m likin you comin outta the woodwork!
Now where’s my damn book!!? haha
MJ speakin the truth. I preordered fastlane. Hit me!
That’s cool and makes a lot of sense.
sounds like what Tim F says in 4HWW about how easy it is to be considered an “expert” or “guru” on something!
definitely looking forward to this book as it will be a quick reference to all the valuble info on these forums and to the day I see MJ on CNBC arguing w/ the so-called “financial experts” who in turn were just “bookselling experts” :p
You should write books to teach what you know as the primary objective. Making money along the way is a nice bonus.
I have read probably most of Kiyosaki’s books. Each is mostly a repetition of the previous. All the basic principles elaborated in his books could be condensed into a few sentences on a 3X5 card! Lots of verbage with little substance. OK for motivation for a total newbie, but after the first book, one should look elsewhere for financial and real estate education.
I always assumed something like this was true… it’s like, why would you be selling books if the real way to make money was investing in mutual funds. It’s great to see my assumption validated by a truly successful person. Thanks!
his books got me started, eventually got me here, got fastlane plates on my car 2 days after browsing the site.
What a joke! He is trying to make it seem like he is actually Rich by taunting a Black Card and Lamborghini on a string. What a great marketing plan this guy has. I can’t believe he would say these things.
“I don’t know the answer but I will make a surefire speculation.”
How about doing some research first?
You “bet” me that these gurus made their fortunes on their books instead of their ideas? Are you five years old?
I “bet” you spent 10 minutes writing this article and then were too lazy to investigate whether or not your hypthesis was true.
“As for my book … my book will be AFTER the Black Card and AFTER the Lamborghini.”
Wait – I thought you said you already have a black card and a lamborghini? I guess you’re ready to write that book then. RK is indeed a joke, but you sound like one too.
While chicken/egg, lambo/book is an interesting contrast the substance is that both of you seem to be in the information business and in the end “Everything is Information.”
It has been said that the only thing you can leave in life is a book or a story.
To trivialize RK as a salesman is a sad and serious mistake. His entire story and life is written through his books. The story is what is the power and the concepts are timeless.
To learn and even see these concepts takes years of work and sacrifice let alone communicate them.
I will probably buy every book RK comes out with in the future and I can assure you it has nothing to do with his sales ability.
I suspect that flaunting the trimmings of success is something everyone does on a large or small scale, its more of a put on or an ego trip, just so it doesnt become part of your identity and take the image to seriously.
RK’s story is very serious and very open, few have is financial knowledge, it is radical meaning it gets to the “Root” of the issue. He is only the second author I have actually asked the question “How and where did you learn this stuff.”
The “Road Less Traveled” and subsequent books by M Scott Peck is the other author that is a bottomless pit of information.
The above is the true relative importance not a credit card or a 4-wheeled machine.
Nice article MJ. So much to learn here. At the moment, I am reading RK Quadrant book and as you can see I have a lot of catching up to do lol. I always wondered why authors sometimes published so many books on the one topic e.g. ‘Money’? Or could this be they have so many experience about making money to write a book about or are they just thinking about the revenue?
So if what your saying about ‘Which came first? The chicken or the egg?’ Could that be the same as ‘Which came first? The Idea or money”?
I think it all comes down to how much trust/belief you have towards a particular information. But no one knows for sure which order of RK came first, except his close friends or relatives or his wife.
P.S I always wondered what did RK do first to get to the Fastlane? Him and his wife was homeless before making the Fastlane.
Thanks in advance
CHEERS :)
A few months has gone by and still no feedback on question lol. I guess I will have to find out myself.
[...] Which Came First? Your Black Card or Your Book? [...]
[...] Which Came First? Your Black Card or Your Book? [...]
This is a great blog. I have been thinking about this for some time. I think many of the people who are writing books about getting rich, actually got rich by writing and selling their book. Kiyosaki is no different. I just wish more people would wake up and realize this.