In my free report, I wrote that the Internet is commoditising many products, services and talents. Commodities can only compete on price. If you are a commodity, competition can only drive your profit margin towards one-direction—down. Good luck to you if your competitors are from low-wage and low-cost developing countries. As a commodity, you are […]
Tag Archives: Robert Kiyosaki
How did Robert Kiyosaki avoid becoming a commodity? Part 2: Raise prices!?!?
In my previous article, I wrote about how Robert Kiyosaki was stumped with a seemingly unsolvable business problem—his product was perceived as a commodity and he couldn’t compete on price profitably. So, how did he solve this intractable problem? The only way out was to stop targeting the product at the low-end, where the cheap customers were, […]
How did Robert Kiyosaki avoid becoming a commodity? Part 1: Stumped!
In 1996, Robert Kiyosaki was preparing his Cashflow game for final production, ready for commercial use, when he encountered a very serious business problem. The question was, how much would someone pay for that product? The first problem he faced was that the product might look too much like a game for entertainment rather than […]
Rich Dad: A truly great business must have a business and spiritual mission
A few years ago, I enrolled on the Rich Dad’s Entrepreneur coaching course. One of the very first things I learnt was that a business must have both a business and spiritual mission in order to be successful. This is especially true at the beginning. If a business’s missions were clear and strong, the business […]