Wealth creation secret - replicability
Never do anything that you cannot easily replicate or easily teach someone else to do.
This is the genius of Ray Kroc, founder of MacDonald's. He made sure that every single task was easily replicable, that is, easily taught to another person with little skill.
Because so little skill is required to work in a MacDonald's restaurant, one out of 15 Americans had his/her first job at MacDonald's.
However, Kroc was not the first to understand the power of wealth creation replicability. Henry Ford understood and mastered this principle by creating the assembly line auto factory.
In other words, to create massive wealth, you've got to create and refine a system that CREATES wealth for you.
For example, I recently create a "publishing" system where I get every reader to forward my eBook to 5 other readers. In a matter of months, I can thus sell to millions of readers. It doesn't matter whether I sell my eBooks for $2 or $50; under such a system, I cannot, simply CANNOT, escape my destiny as a multimillionaire.
The question you have to ask yourself is, "What are the value adding tasks that I do every day that I can replicate? That is, what tasks can I easily teach others how to do?"
Replicability can occur at various levels: task level, process level or system level.
When you outsource a replicable task, look for a good employee.
When you outsource a replicable process, look for a good manager.
When you outsource a replicable system, look for a good entrepreneur.
Think of a task as a specific thing to do, like pouring two table spoons of salt. Think of a process as a recipe. Think of a system as the kitchen in a famous restaurant.
The mistake of the overwhelming majority of professionals and managers is that they do NOT document what they do. Therefore, they cannot easily teach it to others. Therefore, they are "trapped" doing the same thing for decades!
I know a few project managers who understand the principle of replicability, and have documented how they manage projects. They were then able to become consultants teaching project management at a cost of $2,000 per day. I know, I used to hire them for a training company I worked for.
Robert Kiyosaki is totally right about the sequence to wealth: Do, Learn, Teach.
I would just add that for some people, the sequence is "Learn, Do, Teach." These are intellectually inclined people (like myself!) who need to master something mentally before they can do it in "real life."
Other people, like my sister Zoonie who founded Talentelle.com and is now in the process of creating a major portal for women worldwide, prefer the other approach of doing, then learning from what they are doing.
People like her who dare to do things even though they haven't figured out all the details, usually have a lot of self-confidence.
Wait, that doesn't mean I don't have self-confidence! I just need more "intellectual" reassurance before I do something; I'm a perfectionist.
Regardless of whether you are more entrepreneurial (do before learning) or intellectual (learn before doing), you will eventually have to capture your knowledge in order to teach it.
Those who master the art of teaching, become rich quite easily.
It is easier than ever today to become a "worldwide" teacher through blogs, Slideshare.net, Youtube, etc.
The Internet is the 24/7/7 classrom (available and open 24 hours a day, on 7 continents).
This is the genius of Ray Kroc, founder of MacDonald's. He made sure that every single task was easily replicable, that is, easily taught to another person with little skill.
Because so little skill is required to work in a MacDonald's restaurant, one out of 15 Americans had his/her first job at MacDonald's.
However, Kroc was not the first to understand the power of wealth creation replicability. Henry Ford understood and mastered this principle by creating the assembly line auto factory.
In other words, to create massive wealth, you've got to create and refine a system that CREATES wealth for you.
For example, I recently create a "publishing" system where I get every reader to forward my eBook to 5 other readers. In a matter of months, I can thus sell to millions of readers. It doesn't matter whether I sell my eBooks for $2 or $50; under such a system, I cannot, simply CANNOT, escape my destiny as a multimillionaire.
The question you have to ask yourself is, "What are the value adding tasks that I do every day that I can replicate? That is, what tasks can I easily teach others how to do?"
Replicability can occur at various levels: task level, process level or system level.
When you outsource a replicable task, look for a good employee.
When you outsource a replicable process, look for a good manager.
When you outsource a replicable system, look for a good entrepreneur.
Think of a task as a specific thing to do, like pouring two table spoons of salt. Think of a process as a recipe. Think of a system as the kitchen in a famous restaurant.
The mistake of the overwhelming majority of professionals and managers is that they do NOT document what they do. Therefore, they cannot easily teach it to others. Therefore, they are "trapped" doing the same thing for decades!
I know a few project managers who understand the principle of replicability, and have documented how they manage projects. They were then able to become consultants teaching project management at a cost of $2,000 per day. I know, I used to hire them for a training company I worked for.
Robert Kiyosaki is totally right about the sequence to wealth: Do, Learn, Teach.
I would just add that for some people, the sequence is "Learn, Do, Teach." These are intellectually inclined people (like myself!) who need to master something mentally before they can do it in "real life."
Other people, like my sister Zoonie who founded Talentelle.com and is now in the process of creating a major portal for women worldwide, prefer the other approach of doing, then learning from what they are doing.
People like her who dare to do things even though they haven't figured out all the details, usually have a lot of self-confidence.
Wait, that doesn't mean I don't have self-confidence! I just need more "intellectual" reassurance before I do something; I'm a perfectionist.
Regardless of whether you are more entrepreneurial (do before learning) or intellectual (learn before doing), you will eventually have to capture your knowledge in order to teach it.
Those who master the art of teaching, become rich quite easily.
It is easier than ever today to become a "worldwide" teacher through blogs, Slideshare.net, Youtube, etc.
The Internet is the 24/7/7 classrom (available and open 24 hours a day, on 7 continents).
posted by Super Peter at 10:04 PM
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