Rich Dad Poor Dad emphasized the importance of marketing as a means to wealth. In the audiobook version, Robert Kiyosaki asserted that every professional is one competency away from making it BIG. He said that the competency is usually “Marketing”, and told the story of a writer he met.
The writer was interviewing him in Asia somewhere – perhaps Singapore. Before the interview started, she expressed her frustration that nobody wanted to give her a book deal. She had multiple degrees in English, and felt that she was a really good writer. She wanted the author’s advice on how to get her book[s] published.
Kiyosaki’s response was simple. He asked the writer to read what was written on the cover of his book. “Best-selling author, Robert Kiyosaki,” she said, confused. Kiyosaki then pointed out to her that there is a difference between the best-selling author and the best-writing author. The main difference is that one makes more money than the other.
Today I found another example of how someone can use Marketing to increase his/her earning potential.
This is a music video by Kanye West. While you’re watching the music video, you might realize that the Youtube channel is that of the director, Ashley Smith. There’s a model in the video – you can’t miss her. Yes, she’s the hot blonde walking the little boy around.
You might also notice that her Twitter handle @JasminMarilena is mentioned under the video.
I Googled her name. I looked at her waist size, hip size, etc and considered whether I want her in the music video that Derrick and I will make someday. I wondered how much she would charge. Maybe she doesn’t have an exclusive contract with an agency and we can book her straight off Twitter? I’m kidding, but you get the idea. Seriously though, I wonder how many video models have Youtube channels with all the videos they are in.
I wonder how many of them ask to be mentioned in the caption of the music video – and I wonder how many video owners agree to do it.
Returning to Rich Dad Poor Dad, Kiyosaki recommended that the writer take a short course on Marketing or Sales, then combine it with her writing ability to make a top seller. She resisted however, because she felt that “sales” was beneath her. This is quite normal. Most professionals want to create the product, then have someone else sell it for them. The problem with that is that nobody knows your product quite like you. As long as you refuse to learn about marketing, you will fail to make a product people will want to buy. If you do, you might do so by accident – so your sales will be unsustainable. This will have serious consequences for your wealth down the road.
I have a similar challenge. As a Certified Public Accountant, I have access to higher quality financial knowledge than most financial bloggers do – but they have better marketing. Until my marketing improves, it doesn’t matter what I know. It doesn’t matter that my peers invent financial strategies ten or twenty years before it becomes conventional wisdom.
Marketing is how other people find out who I am and what I do. It is their means for determining what exactly they can get from me. It’s not just done online either.
In my blog StudentLoanCPA.com, I market myself each week with new articles. Some are hits and some are misses – but every week I get better. I’ve actually won a few clients from that site, but there is no telling how many it helps me retain. As an Accountant I can tell you Marketing is hard to quantify, butthe only people that make money are the ones who do it. The ones who keep making money are the ones who never stop doing it.
This blog post is just like a music video on Youtube – it will be here forever, promoting. It’s not that this article isn’t valuable in and of itself or that my blog isn’t educational (both are true). It’s the act of making both public that count. More people can see them, and potentially recognize that the creator can help them somehow.
Jasmin Marilena was already being promoted in the video, but the work is complete because we now know her name.
How are you marketing yourself?
About Albert Okagbue
What happens when you add a top-tier finance education, lots of student loan debt, and a CPA license to the son of a professor? You get Albert Okagbue, a financial consultant & educator to young professionals and entrepreneurs. Affectionately known as “the student loan CPA”, he believes that to win in the new global economy young people have to think differently about the money they earn and the money they borrow. On his blog Studentloanpca.com he shares ideas from within himself and just about everywhere else.