Midas Touch: Why Some Entrepreneurs Get Rich – And Why Most Don’t

24 Abr

Robert Kiyosaki recently won the title of Most Popular Financial Expert of 2011 from Go Banking Rates readers. He, like many of the other experts on the list, rose to fame because of a book detailing his financial philosophy.

Because of this, we decided to read and review books written by the top three most popular finance experts–Robert Kiyosaki, David Bach and Jeff Yeager–to gain further insight into how they have become household names and grown such enormous fan bases.

There are few people in the business world as controversial as Donald Trump and Robert Kiyosaki. That’s why a newly released book co-written by the two seemed like an obvious pick.

What Is Midas Touch About?

Midas touch: The ability to turn anything you touch into gold.

From a business perspective, and as detailed by Trump and Kiyosaki, the Midas touch is the ability for a hopeful entrepreneur to become a successful entrepreneur–the capacity to turn any venture into an extremely profitable one.

Trump and Kiyosaki explain this ability with a hand metaphor, each finger representing a crucial quality or piece of knowledge that a person with the Midas touch possesses.

Five Fingers of the Midas Touch

1. Thumb: Strength of Character

2. Index Finger: F.O.C.U.S. (Follow One Course Until Successful)

3. Middle Finger: Brand

4. Ring Finger: Relationships

5. Little Finger: The Little Things That Count

Each chapter is summarized with a “Points to Remember-Things to Do” list, which breaks down the most important points and actionable steps, if applicable.

Theoretically, you could just read the list at the end of every chapter and get the gist of the book, but I find the value of Midas Touch to be in the storytelling of real-life experiences. While it is nice to have concrete advice regarding how to be successful in business, it’s even more worthwhile when you can understand how those lessons have been applied by actual people with tangible results.

Is Midas Touch Worth Reading?

I honestly found the whole hand metaphor a little weird, and at times, strained. The loosely organized narrative and choppy transitions also caught me off guard on occasion. It’s obvious that Trump and Kiyosaki make better businessmen than writers.

However, while many who are familiar with Kiyosaki’s Rich Dad series of books explain the information within Midas Touch isn’t really all that new–rearranged, but ultimately the same–the actual content of Trump and Kiyosaki’s message is valuable to anyone interested in becoming an entrepreneur and succeeding in the business world.

It’s refreshing to read about entrepreneurship from people who can offer guidance from a personal perspective. Both Trump and Kiyosaki recount the numerous mistakes they made in the past–giant mistakes–but emphasize the importance of learning from those mistakes and having the strength of character to see an idea or project through, no matter how many barriers, setbacks or failures come first.

As Kiyosaki explains in the introduction, “This is not a textbook written by college professors who teach entrepreneurship…it’s a book written by entrepreneurs who have won, failed, and battled back to win, again and again.”

If you’re looking for a book about entrepreneurship written by people who have put theory into practice, Midas Touch is a worthwhile read.



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