Rich Dad Underground

Happy New Year!

noreply@blogger.com (Seif) — Fri, 01 Jan 2010 08:04:00 +0000

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http://johnseiferth.com Day 39 of the 39 Day Challenge. Happy New Year! A short and simple thank you to all who stuck with me through this challenge. I appreciate the comments and feedback. See you on the next challenge! http://johnseiferth.com

Merry Christmas!

noreply@blogger.com (Seif) — Wed, 30 Dec 2009 10:20:00 +0000

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http://johnseiferth.com Day 33 of the 39 Day Challenge. Merry Christmas! http://johnseiferth.com

Acheiving Your Goals by Using the PERT Method

noreply@blogger.com (Seif) — Wed, 16 Dec 2009 21:28:00 +0000

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http://johnseiferth.com Day 23 of the 39 Day Challenge. Achieving goals using PERT and the Critical Path Method. Blair Singer, author of Sales Dogs and The ABCs of Building Business Teams That Win, taught me an extremely valuable technique for setting and achieving goals. It is called PERT (Program Evaluation and Review Technique) and it is critical to ensuring your reach the goals you set for yourself or your business. Simply put, you start out in the future, at the point you've reached your goal, then you work backwards. Each time you work back a step you ask yourself the question "What happened just before that?" By using sticky notes on a wall or white board, you have the ability to move them around, add new steps between other steps, change the path of the goal, etc. It allows you to get extremely detailed about the steps you will take in acheiving your goal. It is very powerful and really takes the guess work out of setting a goal and working to achieve it. This process ensures you get what you want. To find out more about getting what you want and how to do it, visit http://johnseiferth.com. Enter your contact information and we will talk! http://johnseiferth.com

A Video About Nothing - A Seinfeld Homage

noreply@blogger.com (Seif) — Wed, 16 Dec 2009 18:21:00 +0000

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http://johnseiferth.com Day 22 of the 39 Day Challenge. A video about nothing. Jerry: They say, "What's your show about?" I say, "Nothing." George: There you go. (A moment passes) Jerry: (nodding) I think you may have something here. http://johnseiferth.com

Teenage Birthday Party - Watch At Your Own Risk

noreply@blogger.com (Seif) — Sat, 12 Dec 2009 21:26:00 +0000

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http://johnseiferth.com Day 19 of the 39 Day Challenge. Teenage birthday party. 14 years old. 35 of her closest friends... in our house. 'Nuff said. http://johnseiferth.com

Another Life-Changing Rich Dad Event

noreply@blogger.com (Seif) — Mon, 03 Nov 2008 20:56:00 +0000

Here is another update from the Rich Dad event out here in Arizona.

We had a phenomenal time and learned a TON throughout the weekend.

I tell you, there is NOTHING like a Rich Dad event. I've been to a lot of events, and nothing compares.

I believe this one was the best so far. It centered around issues and opportunities that are occurring in society right now.

The federal reserve, the environment, the shrinking dollar, inflation, recession, investing...

Survival!

There will be two products release later this year that you should look out for.

One is a highlight reel from the event. 45-60 minutes of the best moments at the event. Perfect for catching the high points.

The other is a full-length production of the event. Three to four hours of content that will cover every major subject we studied.

I'll have exclusive information on those products as soon as they are available for pre-order.

Stay tuned -

The Studying Never Stops

noreply@blogger.com (Seif) — Sun, 26 Oct 2008 02:22:00 +0000

I am in the back of the room at the latest Rich Dad event in Scottsdale, AZ. These events get better and better each time. I don't know how Robert does it.

In the last day and a half, we have studied the Mandrake Mechanism, the Federal Reserve System, R. Buckminster Fuller, The Dollar Crisis, PERT (Planning, Evaluation, Review, Technique), Synergetics, the dymaxion map, and a LOT more.

And that's just the first half.

The studying never stops.

A Human Touch

noreply@blogger.com (Seif) — Fri, 03 Oct 2008 23:11:00 +0000

It is amazing how a little personal attention goes a long way.

I just talked to two people that were so grateful just for the fact that I listened and was willing to help them.

What is even more amazing is how rare that is these days.

The Master Mindset - Emotions and Intelligence

noreply@blogger.com (Seif) — Thu, 25 Sep 2008 06:03:00 +0000

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During my time at the Rich Dad Company, I became friends with many of the advisors to Robert and Kim Kiyosaki. One of the advisors that I learned the most from is Blair Singer. He wrote the Rich Dad Advisor books, Sales Dogs and The ABCs of Building Business Teams That Win.

He is also one of the MOST incredible speakers I have ever heard. I attended one of his two day seminars FOUR TIMES in the last six years. He motivates, inspires and teaches real-life concepts that immediately produce results. I am very proud to call him a friend.

One of the most significant and simple lessons he taught me was the concept of emotions vs. intelligence You see, these two very human traits have an inverse relationship. In other words, when one is high, the other is low, and vice versa. This is evident in a number of every-day examples that I am certain we all have been through.

Have you ever heard someone on the radio that is willing to do ANYTHING to get a pair of concert tickets? Eat bugs, streak through the park, sing karaoke.

Most of the time, their emotions are extremely high. And needless to say, their intelligence is low. Duh! Would they normally do those things? Maybe.

Another example is the ubiquitous fight with a loved one. When emotions are running high, we tend to say some pretty stupid things. And we regret it later, when our emotions are low. We realize that at that moment, our intelligence was lower than a snake's belly.

Anyway, I wanted to share this important but simple concept so you can recognize when this is happening. What you do at that point is your choice. Leave a comment if you found this valuable. I want to hear from you!

The Power Of Social Proof

noreply@blogger.com (Seif) — Wed, 17 Sep 2008 19:28:00 +0000

I am on day 23 of my internet marketing career and already I've replaced the income from my J-O-B.

That's right.

In just under a month, my income is at (actually slightly above) what I was making as an 'E - employee' at The Rich Dad Company.

What does that say about the education I received while working for Robert and Kim Kiyosaki for the last six years? To me it says that I am one of THE LUCKIEST people on the planet.

Not only did I have the opportunity to study side-by-side with Robert, Kim and the rest of the Rich Dad team, I got the opportunity to jump out into the real world and put that education to work.

One of the most significant things I've learned so far, is the power of social proof.

What is social proof?

It is when someone well known in the circles you are looking to be successful in endorses you. I have an advantage over most others having Robert and Kim behind me.

However, social proof can come from anyone. And it is often just as powerful.

Check out this video Nic Mitchell made (without my knowledge!) and posted on YouTube.

Now THAT demonstrates the power of social proof. And the power of leading with the giving hand. Nic didn't ask for anything in return (although, I have recorded a response video that he does not know about yet).

Why Recognizing Feedback Is Critical To Success

noreply@blogger.com (Seif) — Mon, 15 Sep 2008 18:30:00 +0000

Robert just submitted an article to Entrepreneur.com that captures, in a concise, easy-to-digest fashion, the importance of recognizing, hearing, and acting on feedback.

When building a business, one of the KILLERS that often results in a failed business, is the inability of the leader to accept feedback. Remember the quote from rich dad?

"If you are the smartest person on your team, then your team is in trouble."

It is this attitude that causes so many businesses to flounder and ultimately end up in the toilet.

Each of us is receiving feedback every minute of every day. Winners know how to recognize and act on that feedback.

Seif

True Flexibility... Literally

noreply@blogger.com (Seif) — Sat, 06 Sep 2008 15:46:00 +0000

Talk about context before content...

Check this out.

This Time It Is For Real

noreply@blogger.com (Seif) — Mon, 18 Aug 2008 19:58:00 +0000

Remember the Apprentice Challenge? That was over two years ago, when I was still working at the Rich Dad headquarters in Scottsdale, AZ.

You heard me right, I no longer work at the Rich Dad headquarters. As of 31 July, I am officially on my own, building my own business.

I still do some work for Rich Dad, but remotely, as a consultant.

I've also moved myself and my family about 120 miles north of Scottsdale to Flagstaff, AZ. It has been our dream to move here for 3-4 years now (ask anyone at Rich Dad and they'll tell you how I've talked their ears off about this for a long time).

I want to be up front about how this all came about.

For the past six years I've managed the online presence (IT, web, RD Underground, etc) as well as the home office network for the Rich Dad Company. During that time I've received what I consider to be the most valuable education anyone could ever receive.

However, there was something I was missing. Sure, I could do the IT work and was extremely successful at building and fine tuning the systems, but there was a problem.

IT was not my passion.

As most of you know, I love making videos. Especially behind the scenes, fly on the wall-type videos of stuff no one else gets to see.

So, I decided to move out of IT and into media production. Well, my skill level and experience did not allow me to do that full time at Rich Dad.

Therefore, the decision was made for me to move on, and do things on my own. This is what I am calling 'The REAL Apprentice Challenge.'

Robert and Kim were incredibly supportive and encouraging. It was not easy to leave the folks at Rich Dad that I had come to think of as my family.

However, I believe it was the best thing for me and the best thing for the company. We both needed to grow beyond our current context.

So, here is the deal. I have teamed up with a friend of mine who is an incredible entrepreneur, online marketing expert and teacher. He and I are going to be building a team of people dedicated to getting financial education into the hands of the people that are ready to learn.

If you've subscribed to this blog, then you will receive a separate email explaining the whole thing.

In the mean time, I am going to keep you all posted on my progress. Hopefully via video, like the first apprentice challenge. The only difference is, this one is for real.

Do or die.

Disclipline pays off

noreply@blogger.com (Unknown) — Fri, 15 Aug 2008 06:43:00 +0000

What I see today is that this Silver future contract what I plan to buy is today worth about 2 USD less than yesterday... and it basically means that if I had bought it yesterday (14th of August, as I have already 15th of August and now is 9:43 in the morning) I would have got today a new margin call... But I didn't :-)

SLV finished yesterday at price 14.06 USD... silver futures prices show me that silver will go to 12.5 or near today as September 2008 futures contract shows price 12.525 USD per ounce.

My focus from investement side is definetely Silver, so keep on commenting what my real life actions and result are. But my day-to-day activity is building up a Rich Dad's Franchise in Baltics.

Keeping fingers away from Investment account

noreply@blogger.com (Unknown) — Thu, 14 Aug 2008 11:34:00 +0000

One of the reasons why I write this thing here now, is to keep me accountable and help me have some discipline :-)

So what's the problem?

The problem is that I got margin call when Silver was somewhere around 14.44 USD. Now in couple of last days it has gone up to 14.86... So I decided not use anymore strategy called buy and pray or wait and lose :-p

But in the back of my head my Little Voice is still telling "Jump in" or "Get an new position, because otherwise you will miss out the opportunity." etc.

So I decided that my strategy is:

Buy when Silver price goes over 14-day moving average. And where I look this information is http://www.lbma.org.uk/ and based on that create my own graph.

Sell when Silver price goes under 14-day moving average.

And I will change the strategy after Silver price will go over 200-day moving average.
In this point the strategy will be:

Buy when Silver price goes over 200-day moving average. (This last happened 9/20/2007)

Sell when Silver price goes under 200-day moving average. (This last happened 8/5/2008)

So in the end I will not have many buying/selling going on... and for selling probably I can put a Stop in place. I now found out how I could do that... I just need to try it out, how it works in real environment.

Last thing: I will continue with futures. The main thing why I like the futures is that gain or loss is accounted every day. So I can't hide myself somewhere and "decide" in some point that now I'm going to be a long-term investor, when my actual idea was to be a short term speculator.
The second point is that when things will go as planned and I create some money out of this strategy I can start removing the money from investing account and move it into other deals.

Creating a new Strategy for benefiting Silver futures

noreply@blogger.com (Unknown) — Tue, 12 Aug 2008 12:27:00 +0000

Yesterday I wrote "I got a Margin Call on Silver Future position"

This is not End of Game situation for me. The good thing is that I have taken into account Robert's Big Idea that it's useful to move from 'E' or 'S' to 'B' first and then to 'I'.

In this point I'm talking about CASHFLOW Quadrant. The ones who don't know it yet, I will give the meaning of letters... To understand it better get a book called CASHFLOW Quadrant from Robert T. Kiyosaki and read it.

So I'm at the moment for various reasons in all of four quadrants.

In 'E' I'm just for one reason - my company hired me with minimum possible salary so I get to go to the doctors for free, at least that's the idea. It works with the family doctor but not with specialists as these guys have long waiting lists but it's possible to pay yourself and get the help needed same or next day :-)

I'm mainly in 'S' right now. And focusing of building up the Rich Dad Franchise here in Estonia, Latvia and Lithuania.

And I have some things going on I would call 'B' , at least from idea side. I have put up some IT systems where I collect monthly service fee, but as nothing happens mostly - it means these things work without me, then I don't have spend time other than writing Invoice once a month.
OK, in some rare case I have to act really fast and fix or update something.

And the 'I' is left. Here I'm with my learning how to invest... trying out things... like this Silver Future contract. Now I know from my experience what is Margin Call :-)

So the good thing is that nothing bad happens with me after this last deal... I still have money for living expenses and food and all that... so I will put some money which comes in every month to my investment account and jump in again :-) This time being smarter again... and it's all pre-tax money.

Now I will take into account more also market movements with my new strategy. Probably get burned again, but will learn faster and more :-)

I got a Margin Call on Silver Future position

noreply@blogger.com (Unknown) — Mon, 11 Aug 2008 16:07:00 +0000

When I first talked about "Margin Call" and explained what it means to my girlfriend she understood that someone will call me say something like this: "Peeter, thank you for your money. You don't have it anymore."
The real truth is that no one calls you - just there is no asset anymore and no money also...
I have had two earlier posts on this:

So what happened?
After writing "Background story about buying Silver" in some moment I changed to Silver future from SLV position. First I bought one Silver Mini-Future contract which was approximately for same quantity of Silver than I had in SLV before, so for 2500 ounces. Then it felt good and I thought - let's take some more risk and I changed to one Silver Future contract, postion for 5000 ounces.

So bacically to make it simple, I put 20 000 USD to my investing account and did these earlier mentioned deals. Today just some moments ago I have 4054,69 USD on my account and no position in anything.

Couple of thing I didn't take into account:

Silver may go down in price. OK, I read a lot of articles about the price in future... and all those suggested rather higher prices... I even read a realistic article that the price should stay between 15 and 30 USD and hoped for 30 :-p
As long as Silver stayed above 15 USD I had enough funds to cover this position in my account. Today it went under... at least I see SLV price now 14,44 USD.
I didn't take into account that the Exchange NYMEX will lower the Margin needed... I went in knowing that it is 8000 USD and I thought that when my position is worth less it gets sold automatically. They lowered the Margin needed to 5000 USD and as I found out now it got sold automatically when I had 4000 USD left in my account. Good that I didn't had any other assets on that account :-)
I had no stop order on place... accually I even don't know how to put this into place :-/

Now I can say this was a costly wake-up call. I better start learning more...

At this point I have the plan to add some funds to this account and buy a new position in Silver Futures when Silver price will go over 14-day moving average or 200-day moving average whichever comes first. So I will at least have some kind of strategy other than buy and pray.

At this moment I'm looking this information at http://www.kitco.com/charts/techcharts_silver.html
And just now I also found out how I can create same graph :-)
Just need to take the information from http://www.lbma.org.uk

Gaming in Scottsdale at this time

noreply@blogger.com (Unknown) — Wed, 25 Jun 2008 22:19:00 +0000

RichDad goes Global by Franchising

noreply@blogger.com (Unknown) — Wed, 25 Jun 2008 03:08:00 +0000

Just look at the video and find out more...

Success Is Painful

noreply@blogger.com (Seif) — Tue, 17 Jun 2008 21:50:00 +0000

What Do Getting Into Shape and Building a Successful Business Have in Common?

Pain.

Believe me, I know first hand. Having helped build the Rich Dad company's IT infrastructure from the ground up and having gone from 28% body fat to just 14% in just 12 weeks.

I understand the meaning of the word pain. I understand what it means to push through the pain. To endure the pain.

The question is: Do you have what it takes to push through the pain no matter what? To see your goal so clearly that no amount of pain will stop you.

There were times during my 12 week training program where I said to myself, "What in the $^#& are you doing this for? What were you thinking?"

Each time those questions came up, I had one answer for myself, "Because this is what your goal was. This is what you told yourself you were going to do."

It also helped that I had announced my goal to the entire team at Rich Dad at one of our Tuesday Morning meetings. Once I did that, I was committed. I had to push through whatever pain the trainers threw at me.

The same goes for building a business. Is it always fun and games? Hell no! Building a business is painful. Sticking to a goal of making your business successful is sometimes painful.

The bottom line is that most things that are worth doing, are painful, or at least scary.

Imagine if climbing Mount Everest was as easy as a walk in the park? Then everyone would do it. In fact it is extremely difficult, requires a ton of preparation, a lot of pain and sacrifice. That is why so few people go through with it and reach the ultimate mountain climbing goal of standing on top of the world.

The same can be said for successful businesses. Imagine if it were a walk in the park to build a company like Apple? Then everyone would do it. There would be world-class companies on every corner. But that is simply not the case.

Imagine what Steve Jobs went through when the board of directors kicked him out... of the company HE FOUNDED. Pain? I guarantee it.

The caterpillar emerging from the chrysalis goes through an incredible struggle, an enormous amount of pain. The goal? Flight.

Talk about motivation.

Are you ready to step up and endure the pain you will need to push through in order to reach your goals?

Need vs. Power

noreply@blogger.com (Seif) — Thu, 12 Jun 2008 21:21:00 +0000

We just got out of a meeting with Robert and Kim where I learned a valuable lesson. The relationship between a person's need and their power.

So, here is how I understand it: when your need is high, such as you are in a position where you need the money, or need the job, or need a favor, you power is, as a result, low.

*Geek Alert*

I kept thinking about the scene in Star Wars Episode IV where Luke has to sell his land speeder because he is about to leave the planet forever and head off to Alderan with Obi Won Kanobi.
He is disappointed at the price his speeder demands due to the fact that a new model was just released. His power in the negotiation was very low because his need was very high.

I have experienced the same thing, but on the other side of the deal.

When I walk into a car dealership, I am constantly talking to myself, saying "You don't really need this car. It is just fine if you leave here driving the same car you did when you came in."

When I am in that frame of mind, my power shoots through the roof! There is no pressure. The sales person has nothing on me because I am more than willing to walk away.

When you are negotiating a sale, or attempting to recruit someone into your business, being at low need gives you all the power.

The #1 Skill of an Entrepreneur...

noreply@blogger.com (Seif) — Thu, 12 Jun 2008 17:51:00 +0000

... is the ability to sell. Watch as Robert speaks with Sara Nelson of Publishers Weekly about the importance of learning how to sell. He talks about how he does not consider himself an author, but an entrepreneur whose responsibility it is to sell his books.

Hanging With Mike Dillard

noreply@blogger.com (Seif) — Sun, 01 Jun 2008 16:31:00 +0000

This weekend I was invited to be a student at the MLM Traffic Formula 101 Live event in Austin, Texas, USA.

Mike Dillard, who wrote MLM Traffic Formula (and many other books), has become a great friend and mentor over the past few months. He has provided extremely valuable lessons, feedback and advice that have changed the way we think about internet marketing at Rich Dad.

Being here as a student has been eye opening, to say the least. I have an entirely new appreciation for how effective internet marketing is done. And how much I don't know!

Here are a few of the basics:

* Your list... is everything.

* Establish a relationship with the people on your list - Speak to your contacts as individuals, not as a group

* Provide overwhelming value and education

* Be real - People can spot BS from a mile away

* Create systems that leverage your content

I am extremely excited about what I have learned so far and I am working very hard to implement it.

John

p.s. The photo above is of Mike's 2006 Aston Martin Vantage. He was gracious enough to let me sit down and fire it up last night at his house. Amazing!

The Psychology of Winning - Part 3

noreply@blogger.com (Seif) — Wed, 28 May 2008 19:52:00 +0000

The Psychology of Winning - Part 2

noreply@blogger.com (Seif) — Thu, 22 May 2008 18:20:00 +0000