Why Some Entrepreneurs Get Rich-And Why Most Don't

I've been an entrepreneur for years, and reading this book gave me the feedback I needed from the real masters.
I am a big fan of both Trump and Kioysaki, their five finger system is easy to remember and follow.
LOVED IT!

Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don't I gave this as a gift and heard that it was a very good book for entrepreneurs. I hope to read it sometime myself. Best prices always at the store. Arrived on time.

Another good Trump book, this time coauthored with the famous Robert Kiyosaki of "Rich Dad, Poor Dad" fame.
I read this to understand the character of Trump during this presidential election year. While the objective of the
book is to clarify the big picture thought process and behaviors that help an individual become a successful
entrepreneur, I sought, via Trump's numerous personal anecdotes in the book, to better grasp who he is.

While this book was written in 2011, and most presidential candidates like to author books in preparation for a run for
the presidency, and it could be argued that Trump has been preparing to run for the presidency for the last 30 years,
and so these books are prepared revelations for the voting audience, his writing style is effective and comes across as
genuine. It is more like an in the moment brain dump of a string of personal experiences over a period of decades, rather
than some contrived powdered up version of saintly reality.

My takeaway from this and other Trump books is that he is not a fluke. His success is a by product of his character
traits. These character traits which one glimpses upon in the book, help explain his presidential aspirations.

Donald Trump & Robert Kiyosaki and some of my favourite business authors, so for me to see them team up to write a book is great.

In The Midas Touch they teach a template for developing the Midas Touch:

THUMB: Strength of Character
INDEX FiNGER: F.O.C.U.S.= Follow One Course Until Successful
MIDDLE FINGER: Brand
RING FINGER: Relationships
LITTLE FINGER: Little things that count

They both tell personal business stories of both failures and successes, with a big emphasis on lessons learnt as a result of failures, hence turning failures into successes.

Highly recommended if you are in business or thinking of starting one.

After reading just two chapters of this book, I knew it was going to be a winner. I therefore decided to put a highly recommend post for the book on two entrepreneur listservs I belong to. The remainder of the book did not disappoint me either.

I highly recommend this book for several reasons:

First and foremost, this book is about entrepreneurial mindset or frame of mind. This book is not about how to run a business. I found this perspective particularly valuable as I am currently personally shifting my mindset from that of being an employee to that of an entrepreneur.

Secondly, this book looks at the changing nature of the U.S. economy and how entrepreneurs must position themselves for success today and in the future. In this regard, I was reminded of the book title, What Got You Here, Won't Get You There

Thirdly is the discussion surrounding the Business- Investor Triangle which illustrates the 8 Integrities of Business. While this concept might not be new to some readers, what makes this information valuable is the discussion regarding how the entrepreneur should approach the triangle.

Finally, there is the discussion about what it takes for the entrepreneur to move from self employment to a business status as defined by Robert Kiyosaki's CASHFLOW Quadrants.

I found the book to be a quick, engaging read. Based on their experiences, Trump and Kiyosaki have identified five key factors of entrepreneur success. Each of the key success factors is a chapter in the book. Trump and Kiyosaki believe that to achieve success, today's entrepreneurs must master all five factors or attributes.

The five attributes are:
* Strength of Character
* FOCUS
* Relationships
* The Little Things

Having studied entrepreneurship to the extent I have, I now appreciate that becoming a successful entrepreneur involves four things:
1. Mindset
2. Product
3. Business systems
4. Capital

When it comes to mindset, I believe this book does a great job covering the topic. If you are an entrepreneur or want to be one, then I would highly encourage you to make this book one of your must reads in 2012.

To be honest, I really love both of these authors and have read all of their books which together is a lot of books!

Midas Touch is a great read for all entrepreneurs. The book presents a lot of personal insight to their personal success along with a fresh point using each finger on your hand, from the thum right to the pinky. The book combined a lot of the older perspectives with some fresh, bold perspectives for today's economy. Both authors are very gracious to continue to write and give back their stories with insight and wisdom to help today's entrepreneurs.

I highly recommend this book and all the books written by both Robert Kiyosaki and Donald Trump. They are all very motivating and inspiring about making your business happen rather than waiting on a bail out or a new entitlement program to come along.

Jim Ingersoll
Author, "Investing Now"
Investing Now: An Insiders Guide to Flipping Houses For Income Today

The book is interesting, but for those familiar with other works by the authors, there is very little new information provided. The stories on The Apprentice and Donald's Saturday Night Live appearance are both repetitive in the book and from other books he has written.

Kiyosaki's stories of his early career, developing his nylon wallet business and financial difficulties have also been well documented in his earlier books. Whether you believe all the details about the stories of rich and poor fathers, this book moves away from some of his more startling predictions of economic events and delivers more substance on how to develop relationships.

The book by these two well known authors treads little new ground, but can be useful for those needing motivation and a bit of a spur to get going with developing a business. There is not a lot of hard data for decision making, but entrepreneurs will enjoy getting into the mind of these two successful business people.

Being my first reading of either Kiyosaki or Trump I found the book very moving. I would recommend this book for someone new to the idea of starting a business or how to make their business better. Understanding E vs S vs B vs I... and how to get from one to the other. If you are 'awake' you will understand what they are talking about and hopefully get some insight to make yourself better. If you expect a 1,2,3 step process to make a bajillion dollars tomorrow sitting on your butt eating Cheetos, drinking Mtn Dew, watching back-to-back episodes of jersey Shore, you will be extremely let down by this book. Don't know why I said Cheetos and Mtn Dew, there's nothing wrong with them.

I felt like Donald was over the top, untouchable. Where Kiyosaki is relatable, I got more benefit from him them Trump because I could relate with his trials and tribulations. Donald talks from money, he never talks about his failures, almost feels like he is gloating talking about this golf course, and that hotel. Kiyosaki felt tangible, as if you could talk to him on a human level. When I talked to my mentor and mentioned this to him, he quickly changed my view on it. The difference is their mentality and why they make a great team. People like me, growing up without money, will relate to K as his is closer to what we know. Whereas Trump will relate more to those who are at or above K.'s level. That their levels of thinking are entirely different... do you see mistakes as failures... or as lessons?

For a good next book, to go in deeper and stay down longer... Think and Grow Rich by Napoleon Hill - But it is much harder. I finished Midas touch in a day. Think and Grow Rich should take you several weeks. 1 chapter a day it recommended.

I found this book to be extremely effective in describing the characteristics one must possess to be a successful entrepreneur. The organizational structure definitely did the subject justice, and made it extremely easy to follow along with. It was clever how they tied in the structure of a hand in with Midas Touch. For the most part the authors did a good job at maintaining my interest. The inclusion of personal stories both from Donald Trump and Robert Kiyosaki were very insightful and surprising. They give very insightful advice about what made them successful. They claim you need to possess 5 things to obtain the Midas Touch. 1) Strength of Character 2) Focus 3) Brand 4)relationships 5)little things that count
This book is extremely timely, it was published in 2011, 4 years after the major stock market crash. They offer a solution to our recent economic troubles with unemployment. Their answer is if we have more entrepreneurs in society they will start more business which consequentially creates more jobs. Although I really did enjoy this book I found a few faults. They definitely could have tried to attract a larger audience base. They had multiple,alienating borderline insulting statements regarding those who are simply employees. It was somewhat demeaning. HOWEVER... what I enjoyed the most about this book was this statement they made, “It’s difficult to become a focused entrepreneur if your mindset remains focused on steady paychecks and security. Given the lessons learned from the last recession and other economic downturns, how safe and secure are steady paychecks anyway? Or is it just an illusion?” The authors successfully shed light and made me think about this societal norm. All in all it was a good read and I highly recommend.

Donald Trump's and Robert Kiyosaki's book, Midas Touch: Why Some Entrepreneurs Get Rich--And Why Most Don't (Plata Publishing, 2011), is targeted at "people who are entrepreneurs or those who would like to be." It is not their first collaboration; in 2006, they co-authored "Why We Want You to be Rich" ("one message--two authors").

The book is organized around the metaphor of a hand, with each finger representing an important trait or principle for the entrepreneur. The thumb stands for character, the index finger for focus, the middle finger for branding, the ring finger for relationships and the little finger for "little things that count."

One merit of the book is the interleaving of the perspectives of Trump and Kiyosaki. You might think this kind of book would be ghost-written, at least by Trump, but the authorial voices sound authentic. In each chapter, both have their say--with Kiyosaki opening, and Trump responding--and there is some reference by each to the other's experience.

And yes, the two men do have things in common, including having had rich fathers whom they have since greatly surpassed in wealth [recall that Kiyosaki is author of the bestseller, Rich Dad, Poor Dad (2001)]. Neither Trump nor Kiyosaki could rightly be called "self-made" men, but both are self-invented. It seems to be mandatory in the self-help genre to have overcome extreme setbacks, and both Trump and Kiyosaki have plenty of that kind of trial to tell about

When we discuss the capabilities of the successful entrepreneur, the outer triangle of this diagram lights up. The entrepreneur must be a gifted generalist, who understands how to build a team, lead and execute on the corporate mission. The inner layers reveal specialized problems that the entrepreneur's team must master. There are many professionals--accountants, lawyers, programmers, marketers, finance people, and others--who greatly serve the mission, but who could not themselves lead. Trump usefully suggests sorting out, as a threshold question, which type of person you might be: entrepreneur/generalist or employee/specialist. Trump goes on to elucidate Kiyosaki's "quadrangle" of mentalities: Employee, Small Business Owner, Business Owner and Investor. One problem that Trump doesn't address is the entrepreneur who can start a great business but who cannot scale it up, later needing to be replaced by a proven operator.

The chapter on brand is perhaps the strongest in the book. In his discussion, "What's in a Name?" Trump suggests that entrepreneurs ask whether their business concept is meaningful (p. 122), posing such questions as:

What is the problem you want to solve?
Why is it a problem?
If your business were gone tomorrow, what would the world lose?
What makes you think you can solve the problem?
How does your product or service solve the problem?
How does your product or service make your customer's life better?
What do you think your customers really need from a company like yours?
Kiyosaki starts Chapter Four, "Relationships," with the proposition, "You can't do a good deal with a bad partner," and I found myself nodding, "Yes." Kiyosaki opened his selling career with some ruinous partners, but he restored himself and his honor. Indeed, in terms of resilience, one would have to say that the authors epitomize this quality and it is part of their winning way and maybe even their collaboration. Trump faced down the big banks during his ruinous financial squeeze, 1989-1994, and Kiyosaki was later able to repay the investors whose money his dishonest partner had pocketed (according to his own account).

Donald Trump has a brash personality that perfectly suits his mission, which is to polish the Trump brand at every opportunity. Trump has branded his own real estate projects, and those he lends his name to, in a way that greatly enhances their market value. His success in real estate branding is unprecedented. Why do people pay more for the Trump brand than for generic real estate? To be sure, there is a representation of quality, good location and successful execution. But in the end, it may be because you believe the brand premium will be repaid in the future by someone else who believes in the Trump brand. It's like what John Maynard Keynes said about market speculation: like a newspaper beauty contest, it's not about choosing the prettiest girl, it's about choosing what the voters will consider the prettiest girl, and they may in turn be considering what other voters will think, even to the fourth, fifth or higher degree--see his General Theory of Employment, Interest, and Money (1936).

The chapters are headed by apt quotations. I liked this one, from Alexander Graham Bell: "Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." (p. 45) Also, from Jeff Bezos (founder of the store.com): "A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well." (p. 87)

One potential challenge for Trump, or for that matter, Kiyosaki: to the extent that you make your name into a brand, you face temptation to license it out; licensing can dilute your scarcity value and cloud your reputation for quality and performance. Pretty soon, your name is everywhere, and it may lose some of its caché. As James Baldwin once wrote, "Where everyone has status, it is also perfectly possible, after all, that no one has" [from Nobody Knows My Name, essay on "What it Means to be an American" (1964)].

The authors apparently view the power of a "Midas Touch" as an unalloyed good. In Greek myth, Dionysus granted King Midas' "insatiable prayer" (Aristotle, Politics, Book I) that whatever he touched might turn to gold. King Midas recognized his folly when his food and drink (according to one account, even his own daughter) turned to gold when he touched them. The king died of hunger. There is some unintended irony here. Trump's signal early success came when he transformed the decaying Commodore Hotel next to Grand Central Terminal into the gleaming Grand Hyatt, which he covered with a reflective glass facade. He did something similar with Trump International Hotel and Tower, at Columbus Circle, where he stripped the building to its skeleton and layered on a shiny new facade designed by Philip Johnson and Alan Ritchie. Here is a man who with his touch adds a surface that glimmers like gold--and whose added market value can be converted to hard currency. As far as I know, Trump eats and drinks comfortably, and his daughter Ivanka seems to do just fine.

Generally, if you're looking to emulate the entrepreneurship and brand-building prowess of Trump and Kiyosaki, this book would be a good investment.

(The author of this review, Andrew Szabo, is founder of MindBodyForce.com)

Once the reader sifts though the ego there is good stuff here - and I'd add a grateful thanks to the authors for emphasis on sharing their expertise and for emphasis on job creation. Other than the referenced sifting my problem with the book (as with ALL who those try to make an connection between combat and sports/business, etc) is a degree of arrogance when people talking about "going to war" in such a semi-casual manner. Donald - you may lose all your money in business, but it is NOT the same as combat. You're not sitting in the Director's meeting watching in horror (while you must not panic) as the person next to you has their face blown open. A sports/business opponent can be defeated, but the enemy does not fall on you bleeding and gasping for air while their eyes beg for the last living moment they will see. I'm surprised the combat experienced Robert allows that to pass. Overall a good easy read for those who want two voices of entrepreneurial advice.

very helpful read it, study it, then read it, then study it, then apply.i Found Roberts narrative style quite cool and he shared some really insightful stuff about success and what it really means to be an entrepreneur, its not about money its about solving real problems and helping make the world a better place, if you look for how to get rich quick forget it you wont find what you're looking for, but if you really want to learn some key values and principles to apply now and help you move forward in your entrepreneurial dreams this book will inspire you.

A must read for anyone hoping to start a business. These two icons of the business world give an honest no nonsense overview of the roller coaster ride that awaits anyone hoping to succeed in business.

Although I didn't buy this book through the store, I'd probably be OK providing a review anyways. I really like this book. Trump is very honest, positive and to-the-point without much sugarcoating. This is quite an inspiring book. I highly recommend it to wanna-be business owners or small business owners.

Although I didn't buy this book through the store, I'd probably be OK providing a review anyways. I really like this book. Trump is very honest, positive and to-the-point without much sugarcoating. This is quite an inspiring book. I highly recommend it to wanna-be business owners or small business owners.

I highly recommend this book to all entrepreneurs. It is informative and an easy read. I read it in one day and thoroughly enjoyed it. Every day I am inspired by it and continue to read it as a blue print for success.

These guys aren't completely clueless and have enjoyed some success, so there are worthwhile tips in this book. Particularly interesting is the discussion of branding, the emotional aspects of purchasing, and the enlightened self-interest of practicing ethical business.

But the right wing schtick and puerile philosophy are appalling. At least a left winger like me finds it so, though I must admit their screed is probably a lot closer to the mainstream than my thinking. What's happened over the past 50 years is a complete reversal of the old labor theory of value -- which posited that labor created value and that capitalists were largely parasites. An exaggeration, to be sure, but the opposite philosophy espoused by these two guys and much of the Republican party is not much sounder. Yes, entrepreneurs perform a vital function in bringing new products to market. But to say they should be worshipped as "job creators" and the ultimate creators of value in our economy is ridiculous. An entrepreneur makes money by leveraging the labor and capital of others. By definition they cannot themselves be the ultimate creator of value. They are indispensable and not parasites as the Marxists charge, and they should be well paid. But they should not be worshipped. And they should not use their leverage and increasing power to be overpaid and undertaxed, which is what is happening in the U.S. now.

Anyway, putting aside politics, is the book worthwhile? No. We can get business advice elsewhere without all the condescension and smugness of these two guys. They look down on the "poor dad" who works hard and is honest; the "rich dad" entrepreneur who uses leverage is seen not just as the preferable business model, but as somehow having a corner on the wisdom of how to live life in general. I'll take my ethical philosophy from other sources, thank you.

Why can't these guys just be happy to make money? Why do they feel the need to be worshipped like Gods? Is it, perhaps as John Adams said, because power always thinks it has a great soul? The need not just to be rich but be worshipped and thanked for being rich is truly appalling. But we all want love and want to justify ourselves.

I don't know much about business how-to books, but I imagine there are a lot better books out there than this right wing schtick.

Trump in his standard fashion fills the book with a bunch of old-school ideas that have been around for a long time. Not a fan of Trump, but was thinking he would be able to teach me something in this book. Didn't find this book to be very interesting.

America's most greedy, salacious, disgusting, adulterous piece of humanity couldn't possibly write this book or any other. The GOP actually suggested he was presidential.

Considered by many of all stripes among the most hated men in America