Jack Sarlo

"Think Like A Champion" & "Rich Dad Poor Dad" Book Summaries"

book summaries
  • Category:
  • Mindset

There are many book summary websites, free and paid such as BlinkList

This post contains two quick summaries of two books I’ve read. They may seem random books, but they’re both about wealth and money. 

These books were not released last year, they’re a bit old. But they still contain lots of good ideas and wisdom in my opinion. 

So they’re worth reading, after all a lot of good books are old.

Rich Dad Poor Dad sold over 30 million in over 90 countries.

Use these links to go to the specific summary:

Think Like A Champion Summary
Rich Dad Poor Dad Summary

Let’s start with the first one.

"Think Like A Champion"
by Donald Trump

think like a champion - book review

You can get Think Like A Champion from Amazon or other online stores.

This book, is about 200 pages, but it’s easy to read. 

The ideas you’ll discover don’t require a lot of thought to understand. 

In comparison, the book I’m currently reading ‘Release Your Brakes’, recommended by Dan Pena requires a lot more time to truly understand.

I think this is a good book to gain some motivation and believe more in yourself.

Perhaps you’d also find an idea or two that you can implement right away in your business or life.

Some Key Lessons
From This Book

Keep Learning

Never think of learning as being a burden or studying as being boring.

It’s important to remain open to new ideas and new information. Being a know-it-all is like shutting the door to great discoveries and opportunities. 

Keep your door open every day to something new and energizing.

Once in awhile—or often is even better—think about and ask yourself this question: What do I need to know more about? Maybe it’s world history.

A way to gain wisdom is to read about the greats in history and those in your specific field of interest. For example Winston Churchill, Abraham Lincoln, etc.

The key is to pay attention and keep your brain and senses open to new stimuli. It also helps to be thinking of two things at once. 

The author calls it multilevel focusing.

The intersection of ideas is when innovation will follow, for example thinking in musical terms while listening to your windshield wipers, or watching a stone roll and imagining a wheel.

Work Hard

We all know when we’ve done just enough and when we’ve really exerted ourselves. Make an effort to exert yourself—every day.

A very good way to pave your own way to success is simply to work hard, to be diligent, and to look at what you have going for you versus what you don’t have going for you—the old ‘cup half full’ versus ‘half empty’ test.

Two good quotes: “The Harder I Work, the Luckier I Get” and “Diligence is the mother of good luck.” Diligence can be explained as carefulness, long term effort and working hard.

Pay attention to every facet of your life. What’s strong? What’s weak? What’s missing? What can you do to make the big picture better? 

Whatever you do, don’t stagnate. Don’t become complacent. Don’t pretend that 50 percent is enough, whether you’re giving or receiving.

We all have something unique to offer. Our work is to find out what that is and to work at it with a passion.

This is a quote from the book: 

So when I say I view my work as an art form, you can bet that I’m as meticulous as any artist is about their materials and the desired result.

If you will do the same, I think you’ll surprise yourself at how high your standards will become.

Donald Trump

The author uses a method of thinking he calls “multi thinking”. 

Ask yourself these questions: If you had nothing at all to do, what would you do? And after you did that, what would you do? And after you did that, what would be next on your list? 

Plan and make a list.

Don’t be so easily pleased—with yourself or with anything else. Go the extra mile to make it the best. Be tough and keep your standards high. 

Make your life as groundbreaking (new and creative) as possible, while also minding the tides and riptides around you. It’s a good way to wind up on top.

Creating and employing a discipline of focus is a good way to avoid spending more time than necessary on any one thing.

Positive Mindset

Tell yourself that you are a genius. Right away you will probably wonder why and in what way you are a genius. 

And right away you will have opened your mind up to wonder—and to asking questions. 

That’s a big first step to thinking like a genius, and it might unlock some of your hidden talents.

Do not underestimate yourself, and know that you are able to handle what comes your way. Just increase your leverage by learning to think like a genius. 

Geniuses tend to produce. They are prolific. 

Not everything will be fantastic and mistakes will be made, but they have a huge volume of work to show for their brain power and their mastery of the thought process.

Be tough, be smart, be personable, but don’t take things personally. That’s good business.

Here’s some other quotes from the book.

Sometimes you just have to be tough. I use the example of a brick wall. Is there a brick wall getting in your way? Fine. That happens. 

But you have a choice. You can walk away from the wall. You can go over the wall. You can go under the wall. You can go around the wall. 

You can also obliterate the wall. In other words, don’t let anything get in your way. Get a balance, and then let the positive outdistance the negative.

I was positive, I was persistent, and I refused to settle for anything less than what I had envisioned. 

The result was worth the effort, and not surprisingly, perseverance won. Keep that in mind in all your endeavours."

Donald Trump

Branding

Build your reputation on these three words: “responsible, professional, and loyal”.

Everything you say and do is important. Actions matter. You are, literally, your own brand.

The Trump brand has to represent the highest quality available. If I build a skyscraper, it has to be the best. If I have a line of suits, they’d better be terrific.

Donald Trump

Here are some additional ideas you’ll discover in this book:

  • It’s best not to trust people too much, because that’s just setting yourself up for some nasty surprises. Be circumspect, if not paranoid, with people.
  • Go With Your Gut. Be alert to your instincts and what they are trying to tell you.

    Spend some time with this innate aspect of yourself. See handling your instincts as an acquired skill—they can give you an edge in many situations, business or otherwise.

I like books that give me things to do or think about. 

This book did not give me too much to do or think about, maybe because I already read some other ‘mindset’ related books – and they are all kind of similar.

But if it’s your first ‘mindset’ related book it might be a good one for you, especially if you like Donald Trump.

He talks quite a bit about what he does at work, to explain his ideas with actual examples.

Now here’s a summary of the second book.

"Rich Dad Poor Dad"
By Robert Kiyosaki

rich dad poor dad - book

You can get Rich Dad Poor Dad from Amazon or other online stores.

Rich Dad Poor Dad is a book to help you make more money by improving your financial intelligence (the way you think about and use your money).

If you’re thinking about starting a business this book will tell you why that’s a good move if you want to make a lot of money.

Some Key Lessons
From This Book

Think Differently About Money

rich dad poor dad - book reviewDo not allow the emotion of fear for money (e.g. of losing money, not having enough) control you and force you to work harder at a job. 

Instead use your brain, think and imagine and you will find opportunities to make money other than working for someone else.

If you want to buy something but you say to yourself “I can’t afford it” your brain stops working. Don’t say I can’t.

Instead say “How can I afford it ?” and your brain is put to work, you exercise it about financial matters and it gets stronger and you get wealthier. 

It does not get shut off but instead it is forced to think and search for answers.

Force yourself to think how you can make extra money. 

In this way you are training your mental money muscle just like training weights in the gym and improve your financial intelligence (financial IQ).

Financial IQ is how creative you are at solving financial problems. E.g. how many different solutions can you think of to turn a lemon into millions?

The greater your financial intelligence the more opportunities are presented to you and the easier it is to tell if a deal is good. 

You will be able to spot a bad deal or make a bad deal good.

The fear of being different (e.g. not having a normal, job like pretty much everyone else) prevents most people from seeking new ways to solve their financial problems and make more money. 

Trust your inner wisdom instead of following the crowd. Don’t do just like everybody else.

Do not be a cynic – a negative person filled with doubts and fear who criticizes everything. Instead analyze.

Learn to analyze any opportunity to make money instead of automatically criticizing and closing your mind to what could be a great opportunity. Learn to take risks. Be bold.

The cure for laziness is to be a little greedy. That way you work hard to get what you want. 

If you find yourself avoiding something you think you should be doing ask yourself: ‘what’s in it for me?’

Find heroes to follow and “imitate”. They make things look easy. For example if you choose real estate as one of your assets find a real estate expert you really love, and imitate him. 

This works for whatever skill you want to improve or result you want to achieve. 

For example if you’re playing golf, find a hero you really like, maybe Tiger Woods and play, think and act as if you’re him!

Be self-disciplined. Do not blow money away on expenses. Keep expenses low.

Give first if you want to receive something, this applies to anything not just money. 

But give for the joy of giving not to expect to receive something in return.

Give money if you want money. Help someone else get contacts if you want contacts.

Smile to people if you want people to smile back at you. Your world is a mirror of you.

The Rich Buy Assets Not Liabilities

Assets are anything that provides income other then from your physical labour i.e wages.

  • Stocks
  • Bonds
  • Notes (IOUs)
  • Businesses that do not require your presence. They are run by other people. If you work there it becomes a job.
  • Income generating real estate
  • Royalties from intellectual property such as music, scripts and patents.
  • Anything else that has value, produces income or appreciates and has a ready market.

Buy the assets you love. For example if you really love houses and buildings consider real estate investing as one of your assets. 

If you’re not the least interesting in real estate choose another asset.

The benefit is that If you love an asset then you won’t give up easily if you’re faced with some problem or challenge.

Whichever asset you choose master one thing, e.g. real estate and then learn another one. Don’t do too many things at once.

Saving some money every month is a good idea but not the best option if you want to have a lot of money.

Improve Your Financial Intelligence

Your financial IQ which is made up of 4 parts:

  • Accounting - this is financial literacy or the abilitity to read and understand financial statments. It is about numbers.
  • Investing - this is the science of money making money. You need to learn how to have money work for you.

    In investing, it is what you know your greatest wealth and what you do not know your greatest risk.
  • Understanding Markets - this is the science of supply and demand. E.g. does an investment make sense or does it not based on current market conditions.
  • The Law - understand tax advantage and protection from a corporation. Learn about and form a corporation for tax advantages.

Wealth is a person’s ability to survive for so many number of days if they stopped working. 

If you stopped working today how long could you survive? One month? Three months? One Year?

Overall I think this was a good book because it shows you there are plenty of opportunities to make money, other than working at a job.

If you seek, find and act upon these opportunities you will make more money!

Conclusion

Whether you like Donald Trump or not his book does contain some good insights.

Robert’s book contains very new and different ideas about money and how to make more of it.

Robert Kiyosaki has a lot of valuable videos on his Youtube channel as well as his popular board game, “CASHFLOW® Classic”.

These two books can change the way you think about business and making money. If you have any questions or comments you can leave them below.

About The Author

More than 7 years ago Jack made his first few sales online as an affiliate marketer. His site ranked on Google for dozens of keywords, so later on, he built courses and software to teach his SEO “secrets”.

He also won a Flip Camera in an affiliate contest.

Now he reveals all the insights he’s discovered throughout the years about Internet marketing, in his free guides and products!

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