My rich dad, on the other hand, spent his life...
My rich dad, on the other hand, spent his life doing his best to keep his companies from becoming unionizedAlthough the unions came close, rich dad was always able to fight them off
Personally, I take no sides because I can see the need for and the benefits of both sidesIf you do as school recommends, become highly specialized, then seek union protectionFor example, had I continued on with my flying career, I would have sought a company that had a strong pilots unionWhy? Because my life would be dedicated to learn a skill that was valuable in only one industryIf I were pushed out of that industry, my life's skills would not be as valuable to another industryA displaced senior pilot-with 100,000 hours of heavy airline transport time, earning $150,000 a year-would have a hard time finding an equivalent high-paying job in school teachingThe skills do not necessarily transfer from industry to industry, because the skills the pilots are paid for omega quartz in the airline industry are not as important in, say, the school system
The same is true even for doctors todayWith all the changes in medicine, many medical specialists are needing to conform to medical organizations such as HMO'sSchoolteachers definitely need to be union membersToday in America, the teachers union is the largest and the richest labor union of allThe NEA, National Education Association, has tremendous political cloutTeachers need the protection of their union because their skills are also of limited value to an industry outside of educationSo the rule of thumb is, "Highly specialized, then unionize It's the smart thing to do
When I ask the classes I teach, "How many of you can cook a better hamburger than McDonald's?" almost all the students raise their handsI then ask, "So if most of you can cook a better hamburger, how come McDonald's makes more money than you?"
The answer is obvious: McDonald's is excellent at business miu miu clutch systemsThe reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems
A friend of mine in Hawaii is a great artistHe makes a sizable amount of moneyOne day his mother's attorney called to tell him that she had left him $35,000That is what was left of her estate after the attorney and the government took their shares Immediately, he saw an opportunity to increase his business by using some of this money to advertiseTwo months later, his first four-color, full-page ad appeared in an expensive magazine that targeted the very richThe ad ran for three months He received no replies from the ad, and all of his inheritance is now goneHe now wants to sue the magazine for misrepresentation
This is a common case of someone who can build a beautiful hamburger, but knows little about businessWhen I asked him what he learned, his only reply was that "advertising salespeople cartier tank louis are crooks I then asked him if he would be willing to take a course in sales and a course in direct marketingHis reply, "I don't have the time, and I don't want to waste my money
The world is filled with talented poor peopleAll too often, they're ?poor or struggle financially or earn less than they are capable of, not f because of what they know but because of what they do not knowThey focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburgerMaybe McDonald's does not make the best hamburger, but they are the best at f selling and delivering a basic average burger
Poor dad wanted me to specializeThat was his view on how to be paid moreEven after being told by the governor of Hawaii that he could no longer work in state government, my educated dad continued to encourage me to get specializedEducated dad then took up the cause of the teachers union, campaigning for chloe paddington handbag further protection and benefits for I these highly skilled and educated professionalsWe argued often, but I know he never agreed that overspecialization is what caused the need for union protectionHe never understood that the more specialized you become, the more you are trapped and dependent on that specialty
Rich dad advised that Mike and I "groom" ourselvesMany corporations do the same thingThey find a young bright student out of business school and begin "grooming" that person to someday take over the company So these bright young employees do not specialize in one department; they are moved from department to department to learn all the aspects of business systemsThe rich often "groom" their children or the children of others By doing so, their children gain an overall knowledge of the operations of the business and how the various departments interrelate
For the World War II generation, it was considered "bad" to skip from company to vintage chanel jewelry compan