📋B-I Triangle as a Checklist for Business
-
This simple checklist can be used to bring some reality to what may be required to bring the product to market.
The B-I Triangle is essential to success.
The B and I refer to the Business Owner and Investor quadrants of the CASHFLOW Quadrant.
If one or more of these jobs are not being done, or are being done poorly, the business may fail, struggle or fail to grow.
This does not mean you have to be an expert at each level. This does mean as an entrepreneur, you do not have just one job, you have five jobs. So spend a little time learning a little about each level.
No one can be an expert at everything. After assessing the jobs, you may bring someone that has the skills that you lack and make a team. That person can be an equity participant in (part of) your business, an employee, or an advisor.
In planning your business, you bring together a TEAM that covers all five jobs to ensure a strong B-I Triangle.
1. Product.
A product/service that you intend to give for the market.
2. Legal.
This can be your rights in the products through patents, copyrights, trademarks, tight and strong agreements with your suppliers and partners & licensing.
Also, choosing the right entity structure for your business.
Spending the time and money to set up your business and protecting your assets in the beginning is crucial and save you from much cost which may come later.
3. Systems.
Creating the production, ordering, inventory, sales fulfillment, customer service, and accounting systems to make the business operate smoothly and to position the company for growth.
Also, finding strategic partners who already have the systems in place in certain markets to support you so you don't have to re-create those same systems.
4. Communications.
Keeping in communication with your customer, partners and the public.
- Through different means: websites, clubs, events, special promotions,...
- In public relations and promotions, making sure that you are in the public eye as much as possible.
- With your partners and/or strategic alliance partners.
- Through trademarks and brand recognition. Trademarks tie the company's reputation and the goodwill with its customers to its products and services.
5. Cash flow.
Highly recommended to do it with a qualified accountant but to give some insights:
- Spending no money until you know where new revenues would come from to pay for the expense.
- Prioritizing the business (taking your business into strong level of cash flow before you demand personal benefits.)
A SUCCESSFUL BUSINESS IS CREATED BEFORE THERE IS A BUSINESS.
📚Robert Kiyosaki_Before You Quit Your Job
@Business_Library
-
This simple checklist can be used to bring some reality to what may be required to bring the product to market.
The B-I Triangle is essential to success.
The B and I refer to the Business Owner and Investor quadrants of the CASHFLOW Quadrant.
If one or more of these jobs are not being done, or are being done poorly, the business may fail, struggle or fail to grow.
This does not mean you have to be an expert at each level. This does mean as an entrepreneur, you do not have just one job, you have five jobs. So spend a little time learning a little about each level.
No one can be an expert at everything. After assessing the jobs, you may bring someone that has the skills that you lack and make a team. That person can be an equity participant in (part of) your business, an employee, or an advisor.
In planning your business, you bring together a TEAM that covers all five jobs to ensure a strong B-I Triangle.
1. Product.
A product/service that you intend to give for the market.
2. Legal.
This can be your rights in the products through patents, copyrights, trademarks, tight and strong agreements with your suppliers and partners & licensing.
Also, choosing the right entity structure for your business.
Spending the time and money to set up your business and protecting your assets in the beginning is crucial and save you from much cost which may come later.
3. Systems.
Creating the production, ordering, inventory, sales fulfillment, customer service, and accounting systems to make the business operate smoothly and to position the company for growth.
Also, finding strategic partners who already have the systems in place in certain markets to support you so you don't have to re-create those same systems.
4. Communications.
Keeping in communication with your customer, partners and the public.
- Through different means: websites, clubs, events, special promotions,...
- In public relations and promotions, making sure that you are in the public eye as much as possible.
- With your partners and/or strategic alliance partners.
- Through trademarks and brand recognition. Trademarks tie the company's reputation and the goodwill with its customers to its products and services.
5. Cash flow.
Highly recommended to do it with a qualified accountant but to give some insights:
- Spending no money until you know where new revenues would come from to pay for the expense.
- Prioritizing the business (taking your business into strong level of cash flow before you demand personal benefits.)
A SUCCESSFUL BUSINESS IS CREATED BEFORE THERE IS A BUSINESS.
📚Robert Kiyosaki_Before You Quit Your Job
@Business_Library
👍7❤3🔥2👏1😁1
CASHFLOW QUADRANT 📚📚📚
By: Robert Kiyosaki
This book explains further the financial principles introduced in his earlier work Rich Dad Poor Dad. The book introduces the concept of four distinct "quadrants" that represent the different ways people earn money: Employee (E), Self-Employed (S), Business Owner (B), and Investor (I). Kiyosaki explores the mindset and strategies needed to transition from one quadrant to another, ultimately encouraging readers to move towards the B and I quadrants to achieve financial independence and long-term wealth.
📍Key Takeaways:
1. The Four Quadrants:
✏️Employee (E): People in this quadrant trade time for money, working for others and receiving a paycheck. They rely on job security.
✏️Self-Employed (S): Self-employed individuals also trade time for money but are their own bosses. They may experience more freedom but are still limited by their ability to work.
✏️Business Owner (B): Business owners leverage systems and other people's time to generate income. They focus on creating businesses that work independently of them.
✏️Investor (I): Investors use their money to make more money. They invest in assets that generate passive income, such as real estate, stocks, or other ventures.
2. Mindset Shifts: Kiyosaki emphasizes that transitioning from the E and S quadrants to the B and I quadrants requires a shift in mindset. It involves thinking beyond working for money to having money work for you. People in the B and I quadrants focus on building systems and wealth that don’t require direct effort to sustain.
3. Financial Education: Kiyosaki advocates for continual learning and financial education as crucial for moving into the B and I quadrants. He highlights the importance of understanding how money, taxes, and business systems work.
4. The Importance of Leverage: In the B and I quadrants, success comes from leveraging other people's time, money, and resources. This allows for growth without being limited by individual effort.
5. Building Passive Income: Kiyosaki stresses that true financial freedom comes when you build streams of passive income. This is the essence of moving from being an employee or self-employed to becoming a business owner or investor.
📍Cashflow Quadrant provides a clear framework for understanding the different ways people earn money and offers practical advice on how to transition from the E and S quadrants to the B and I quadrants. Kiyosaki encourages readers to take control of their financial futures by shifting their mindset, investing in financial education, and focusing on creating wealth that doesn’t require constant effort.
📍Cashflow Quadrant is highly recommended for anyone interested in achieving financial freedom and understanding the dynamics of wealth-building. It’s especially useful for individuals looking to move away from traditional employment and towards owning businesses or investing for passive income. Kiyosaki’s clear explanations and actionable strategies make it a valuable read for aspiring entrepreneurs, investors, and anyone committed to changing their financial future.
@Business_Library
By: Robert Kiyosaki
This book explains further the financial principles introduced in his earlier work Rich Dad Poor Dad. The book introduces the concept of four distinct "quadrants" that represent the different ways people earn money: Employee (E), Self-Employed (S), Business Owner (B), and Investor (I). Kiyosaki explores the mindset and strategies needed to transition from one quadrant to another, ultimately encouraging readers to move towards the B and I quadrants to achieve financial independence and long-term wealth.
📍Key Takeaways:
1. The Four Quadrants:
✏️Employee (E): People in this quadrant trade time for money, working for others and receiving a paycheck. They rely on job security.
✏️Self-Employed (S): Self-employed individuals also trade time for money but are their own bosses. They may experience more freedom but are still limited by their ability to work.
✏️Business Owner (B): Business owners leverage systems and other people's time to generate income. They focus on creating businesses that work independently of them.
✏️Investor (I): Investors use their money to make more money. They invest in assets that generate passive income, such as real estate, stocks, or other ventures.
2. Mindset Shifts: Kiyosaki emphasizes that transitioning from the E and S quadrants to the B and I quadrants requires a shift in mindset. It involves thinking beyond working for money to having money work for you. People in the B and I quadrants focus on building systems and wealth that don’t require direct effort to sustain.
3. Financial Education: Kiyosaki advocates for continual learning and financial education as crucial for moving into the B and I quadrants. He highlights the importance of understanding how money, taxes, and business systems work.
4. The Importance of Leverage: In the B and I quadrants, success comes from leveraging other people's time, money, and resources. This allows for growth without being limited by individual effort.
5. Building Passive Income: Kiyosaki stresses that true financial freedom comes when you build streams of passive income. This is the essence of moving from being an employee or self-employed to becoming a business owner or investor.
📍Cashflow Quadrant provides a clear framework for understanding the different ways people earn money and offers practical advice on how to transition from the E and S quadrants to the B and I quadrants. Kiyosaki encourages readers to take control of their financial futures by shifting their mindset, investing in financial education, and focusing on creating wealth that doesn’t require constant effort.
📍Cashflow Quadrant is highly recommended for anyone interested in achieving financial freedom and understanding the dynamics of wealth-building. It’s especially useful for individuals looking to move away from traditional employment and towards owning businesses or investing for passive income. Kiyosaki’s clear explanations and actionable strategies make it a valuable read for aspiring entrepreneurs, investors, and anyone committed to changing their financial future.
@Business_Library
❤10👍7
📚 5 Psychology Books That Changed The Way We Understood Human Behavior
1️⃣ How the World Sees You: Discover Your Highest Value Through the Science of Fascination by Sally Hogshead
2️⃣ Reclaim Your Brain: How to Calm Your Thoughts, Heal Your Mind and Bring Your Life Back Under Control by Joseph A. Annibali, M.D.
3️⃣ The 11 Laws of Likability: Relationship Networking … Because People Do Business with People They Like by Michelle Tillis Lederman
4️⃣ The Confidence Game: Why We Fall For It . . . Every Time by Maria Konnikova
5️⃣ Games People Play: The Psychology of Human Relationships by Eric Berne, M.D.
@Business_Library
1️⃣ How the World Sees You: Discover Your Highest Value Through the Science of Fascination by Sally Hogshead
2️⃣ Reclaim Your Brain: How to Calm Your Thoughts, Heal Your Mind and Bring Your Life Back Under Control by Joseph A. Annibali, M.D.
3️⃣ The 11 Laws of Likability: Relationship Networking … Because People Do Business with People They Like by Michelle Tillis Lederman
4️⃣ The Confidence Game: Why We Fall For It . . . Every Time by Maria Konnikova
5️⃣ Games People Play: The Psychology of Human Relationships by Eric Berne, M.D.
@Business_Library
❤7👍3😱1
🏆 OVERCOMING OBSTACLES 🏆
1. Overcoming Fear
As the saying goes: Everyone wants to go to heaven, but no one wants to die.
Most people dream of being Rich, but are terrified of losing money.
🀄️ If you're going to GO BROKE, GO BIG!
Remember: Failure inspires WINNERS, Failure defeats LOSERS
➖Don't BURY your failures ➖
Take your failures and Turn them into RALLYING CRIES!
Because that's the PRIMARY difference between a RICH PERSON and a POOR PERSON➖HOW THEY MANAGE FEAR
✅ LIVE IT BIG ✅
2. Overcoming Cynicism
🀄️ Noise is created inside our heads or come from outside, often from LOVED ONES and FAMILY!
🀄️ Uncheck doubts and fear creates a cynic- CYNIC NEVER WIN
❗️Cynics criticizes, and winners analyze.
🀄️ A savvy investor knows that seemingly worst of times is actually the best of times to make money.
🀄️ When everyone is too afraid to act, they pull the trigger and are rewarded.
🀄️ When you're in doubt and feeling a little afraid, just do what Colonel Sanders did to his chicken➖HE FRIED IT❕
3. Overcoming Laziness
🀄️ The words "I can't afford it." shut down your brain, while "How Can I Afford It?" opens up possibilities, excitement, and dreams.
🀄️ So ask, What's in it for me? A LITTLE GREED is a CURE for laziness.
4. Overcoming Bad Habits
🀄️ Paying yourself first, and using others/creditors scream as a motivation to trade, to start companies, to work extra jobs rather than innocently dipping into your savings.
5. Overcoming Arrogance
🀄️ Every time you have been arrogant , you have lost money.
Because when you're arrogant, you truly believe that what you don't know is not important.
❗️WHAT YOU KNOW MAKES YOU MONEY. WHAT YOU DON'T KNOW LOSSES YOU MONEY
-
Robert Kiyosaki
@Business_Library
1. Overcoming Fear
As the saying goes: Everyone wants to go to heaven, but no one wants to die.
Most people dream of being Rich, but are terrified of losing money.
🀄️ If you're going to GO BROKE, GO BIG!
Remember: Failure inspires WINNERS, Failure defeats LOSERS
➖Don't BURY your failures ➖
Take your failures and Turn them into RALLYING CRIES!
Because that's the PRIMARY difference between a RICH PERSON and a POOR PERSON➖HOW THEY MANAGE FEAR
✅ LIVE IT BIG ✅
2. Overcoming Cynicism
🀄️ Noise is created inside our heads or come from outside, often from LOVED ONES and FAMILY!
🀄️ Uncheck doubts and fear creates a cynic- CYNIC NEVER WIN
❗️Cynics criticizes, and winners analyze.
🀄️ A savvy investor knows that seemingly worst of times is actually the best of times to make money.
🀄️ When everyone is too afraid to act, they pull the trigger and are rewarded.
🀄️ When you're in doubt and feeling a little afraid, just do what Colonel Sanders did to his chicken➖HE FRIED IT❕
3. Overcoming Laziness
🀄️ The words "I can't afford it." shut down your brain, while "How Can I Afford It?" opens up possibilities, excitement, and dreams.
🀄️ So ask, What's in it for me? A LITTLE GREED is a CURE for laziness.
4. Overcoming Bad Habits
🀄️ Paying yourself first, and using others/creditors scream as a motivation to trade, to start companies, to work extra jobs rather than innocently dipping into your savings.
5. Overcoming Arrogance
🀄️ Every time you have been arrogant , you have lost money.
Because when you're arrogant, you truly believe that what you don't know is not important.
❗️WHAT YOU KNOW MAKES YOU MONEY. WHAT YOU DON'T KNOW LOSSES YOU MONEY
-
Robert Kiyosaki
@Business_Library
👍18❤6🔥1
9 productivity hacks for entrepreneurs
Launching your own projects means you don't get pushed from the outside: no one sets deadlines, and no one checks what's done.
It is both a great freedom and a great responsibility. You're now in charge of the results of your work, the work of the team, and even the whole company. Dodging tasks or scrolling the feed is no longer in your interest. These 9 tips will help you be productive.
❓ What do you do to avoid procrastination and increase productivity?
@Business_Library
Launching your own projects means you don't get pushed from the outside: no one sets deadlines, and no one checks what's done.
It is both a great freedom and a great responsibility. You're now in charge of the results of your work, the work of the team, and even the whole company. Dodging tasks or scrolling the feed is no longer in your interest. These 9 tips will help you be productive.
❓ What do you do to avoid procrastination and increase productivity?
@Business_Library
👍14❤5🔥3
When things don't seem clear:
° walk
° talk
° read
° write
° sleep
° reflect
° exercise
° meditate
These things will give you clarity.
@Business_Library
° walk
° talk
° read
° write
° sleep
° reflect
° exercise
° meditate
These things will give you clarity.
@Business_Library
❤26👍5
"Keeping your finances together can be a daunting task, but for many, it's a constant struggle. The truth is, many people are struggling financially because they lack a clear understanding of how to manage their money, invest in their future, and build wealth. Without a solid financial foundation, it's easy to get caught up in a cycle of debt, poverty, and financial stress. It's time to break free from financial struggles and take control of your economic future."
Here are 10 lessons you'll learn from the book
"Dominate Your Wealth" 📚📚📚
The Blueprint to Financial Freedom
By: Jimmy Park
1: Taking Control of Your Financial Future:
The book laid emphasis on the importance of taking control of your financial future. Readers learn how to assess their current financial situation, set clear financial goals, and develop a plan to achieve them.
2: Investing in Real Estate for Passive Income:
This lesson provides insights into investing in real estate for passive income. Readers learn how to identify lucrative investment opportunities, navigate the real estate market, and build a portfolio of rental properties.
3: The Power of Entrepreneurship for Building Wealth:
This lesson explores the power of entrepreneurship for building wealth. Readers learn how to identify business opportunities, develop a business plan, and secure funding to launch their venture.
4: Retirement Planning Strategies for Financial Freedom:
This lesson provides guidance on retirement planning strategies for achieving financial freedom. Readers learn how to assess their retirement needs, develop a retirement plan, and invest in tax-advantaged retirement accounts.
5: Managing Risk and Minimizing Losses:
This lesson emphasizes the importance of managing risk and minimizing losses in investing. Readers learn how to assess risk, diversify their portfolio, and hedge against potential losses.
6: Building Multiple Streams of Income:
This lesson teaches readers how to build multiple streams of income to achieve financial freedom. Readers learn how to identify income-generating opportunities, develop a plan to pursue them, and manage their income streams.
7: Tax Planning Strategies for Maximizing Wealth:
This lesson provides guidance on tax planning strategies for maximizing wealth. Readers learn how to minimize taxes, maximize deductions, and take advantage of tax-advantaged investment vehicles.
8: Investing in Stocks and Bonds for Long-Term Growth:
This lesson explores the world of stocks and bonds, teaching readers how to invest in these assets for long-term growth. Readers learn how to assess risk, diversify their portfolio, and invest for the long haul.
9: Building a Wealth-Mindset for Long-Term Success:
This lesson emphasizes the importance of building a wealth-mindset for long-term success. Readers learn how to cultivate a positive mindset, overcome financial obstacles, and stay motivated on their journey to financial freedom.
10: Maintaining Financial Discipline for Long-Term Wealth:
The final lesson provides guidance on maintaining financial discipline for long-term wealth. Readers learn how to stay focused on their financial goals, avoid financial pitfalls, and continue growing their wealth over time.
@Business_Library
Here are 10 lessons you'll learn from the book
"Dominate Your Wealth" 📚📚📚
The Blueprint to Financial Freedom
By: Jimmy Park
1: Taking Control of Your Financial Future:
The book laid emphasis on the importance of taking control of your financial future. Readers learn how to assess their current financial situation, set clear financial goals, and develop a plan to achieve them.
2: Investing in Real Estate for Passive Income:
This lesson provides insights into investing in real estate for passive income. Readers learn how to identify lucrative investment opportunities, navigate the real estate market, and build a portfolio of rental properties.
3: The Power of Entrepreneurship for Building Wealth:
This lesson explores the power of entrepreneurship for building wealth. Readers learn how to identify business opportunities, develop a business plan, and secure funding to launch their venture.
4: Retirement Planning Strategies for Financial Freedom:
This lesson provides guidance on retirement planning strategies for achieving financial freedom. Readers learn how to assess their retirement needs, develop a retirement plan, and invest in tax-advantaged retirement accounts.
5: Managing Risk and Minimizing Losses:
This lesson emphasizes the importance of managing risk and minimizing losses in investing. Readers learn how to assess risk, diversify their portfolio, and hedge against potential losses.
6: Building Multiple Streams of Income:
This lesson teaches readers how to build multiple streams of income to achieve financial freedom. Readers learn how to identify income-generating opportunities, develop a plan to pursue them, and manage their income streams.
7: Tax Planning Strategies for Maximizing Wealth:
This lesson provides guidance on tax planning strategies for maximizing wealth. Readers learn how to minimize taxes, maximize deductions, and take advantage of tax-advantaged investment vehicles.
8: Investing in Stocks and Bonds for Long-Term Growth:
This lesson explores the world of stocks and bonds, teaching readers how to invest in these assets for long-term growth. Readers learn how to assess risk, diversify their portfolio, and invest for the long haul.
9: Building a Wealth-Mindset for Long-Term Success:
This lesson emphasizes the importance of building a wealth-mindset for long-term success. Readers learn how to cultivate a positive mindset, overcome financial obstacles, and stay motivated on their journey to financial freedom.
10: Maintaining Financial Discipline for Long-Term Wealth:
The final lesson provides guidance on maintaining financial discipline for long-term wealth. Readers learn how to stay focused on their financial goals, avoid financial pitfalls, and continue growing their wealth over time.
@Business_Library
👍16❤5👎1
Skill for a Successful Entrepreneur
Entrepreneurship is the process of creating, launching, and running a new business venture. It involves taking risks, innovating, and solving problems. To be a successful entrepreneur, you need to have a set of skills.
° Communication: is the ability to express your ideas clearly and effectively to different audiences, such as customers, investors, employees, partners, and media.
° Selling: is the ability to persuade others to buy your product or service, or to support your business.
° Focus: is the ability to concentrate on your most important tasks and goals, and to avoid distractions and procrastination.
° Learning: is the ability to acquire new knowledge and skills, and to apply them to your business.
° Strategy: is the ability to create and execute a plan for your business that aligns with your vision, mission, and values.
These are some of the skills that can help you become a successful entrepreneur in 2023.
@Business_Library
Entrepreneurship is the process of creating, launching, and running a new business venture. It involves taking risks, innovating, and solving problems. To be a successful entrepreneur, you need to have a set of skills.
° Communication: is the ability to express your ideas clearly and effectively to different audiences, such as customers, investors, employees, partners, and media.
° Selling: is the ability to persuade others to buy your product or service, or to support your business.
° Focus: is the ability to concentrate on your most important tasks and goals, and to avoid distractions and procrastination.
° Learning: is the ability to acquire new knowledge and skills, and to apply them to your business.
° Strategy: is the ability to create and execute a plan for your business that aligns with your vision, mission, and values.
These are some of the skills that can help you become a successful entrepreneur in 2023.
@Business_Library
👍15❤7
Several WAYS to get everything you want
• Those who succeed in life are those who are not afraid to dream big and then take risks to achieve their vision.
• When you're ready to give up, you're closer to your goal than you think.
• Why put off your greatness for later? Why wait for a better time to realize your dreams and the wonderful opportunities that life opens up for you? Why not take the first step today?
• Whatever you think about comes true.
• Follow your dreams and the universe will open doors for you where there were only walls... (my favorite quote, hanging on the wall).
• Twenty years will pass, and you will regret more about what you didn’t do than about what you did wrong. Therefore, reject hesitation. Spread the sail and run away from the safe harbor. Catch the fair wind. Explore. Dream. Make discoveries.
• It is much better to burn out in flight and crash down while pursuing a high goal than to spend the best days of your life in front of the TV somewhere on the outskirts of life. (Relevant for 95% of the population).
@Business_Library
• Those who succeed in life are those who are not afraid to dream big and then take risks to achieve their vision.
• When you're ready to give up, you're closer to your goal than you think.
• Why put off your greatness for later? Why wait for a better time to realize your dreams and the wonderful opportunities that life opens up for you? Why not take the first step today?
• Whatever you think about comes true.
• Follow your dreams and the universe will open doors for you where there were only walls... (my favorite quote, hanging on the wall).
• Twenty years will pass, and you will regret more about what you didn’t do than about what you did wrong. Therefore, reject hesitation. Spread the sail and run away from the safe harbor. Catch the fair wind. Explore. Dream. Make discoveries.
• It is much better to burn out in flight and crash down while pursuing a high goal than to spend the best days of your life in front of the TV somewhere on the outskirts of life. (Relevant for 95% of the population).
@Business_Library
👍16❤8🔥2😁2