Then, it was factories and production, and...
Then, it was factories and production, and America rose to dominanceThe industrialist owned the wealthToday, it is informationAnd the person who has the most timely information owns the wealthThe problem is, information flies all around the world at the speed of lightThe new wealth cannot be contained by boundaries and borders as land and factories wereThe changes will be faster and more dramaticThere will be a dramatic increase in the number of new multimillionairesThere also will be those who are left behind
Today, I find so many people struggling, often working harder, simply because they cling to old ideasThey want things to be the way they were; they resist change I know people who are losing their jobs or their houses, and they blame technology tiffany silver or the economy or their bossSadly they fail to realize that they might be the problemOld ideas are their biggest liability It is a liability simply because they fail to realize that while that idea or way of doing something was an asset yesterday, yesterday is gone
One afternoon I was teaching investing using a board game I had invented, CASHFLOW, as a teaching toolA friend had brought someone along to attend the classThis friend of a friend was recently divorced, had been badly burned in the divorce settlement, and was now searching for some answersHer friend thought the class might help
The game was designed to help people learn how money worksIn playing the game, they learn about the interaction of the income statement with the balance sheetThey balenciaga fashion bag learn how "cash flows" between
the two and how the road to wealth is through striving to increase your monthly cash flow from the asset column to the point that it exceeds your j monthly expensesOnce you accomplish this, you are able to get out of the "Rat Race" and out onto the "Fast Track"
As I have said, some people hate the game, some love it, and others miss the pointThis woman missed a valuable opportunity to learn somethingIn the opening round, she drew a "doodad" card with the boat on itAt first she was happy "Oh, I've got a boat Then, as her friend tried to explain how the numbers worked on her income statement and balance sheet, she got frustrated because she "had never liked mathThe rest of her table waited while her friend continued fendi big bags explaining the relationship between the income statement, balance sheet and monthly cash flow Suddenly, when she realized how the numbers worked, it dawned on her that her boat was eating her aliveLater on in the game, she was also "downsized" and had a childIt was a horrible game for her
After the class, her friend came by and told me that she was upsetShe had come to the class to learn about investing and did not like the idea that it took so long to play a silly game
Her friend attempted to tell her to look within herself to see if the game "reflected" on herself in any wayWith that suggestion, the woman demanded her money backShe said that the very idea that a game could be a reflection of her was ridiculousHer money was promptly refunded and she swiss cartier pasha seatimer left
Since 1984, I have made millions simply by doing what the school system does notIn school, most teachers lectureI hated lectures as a student; I was soon bored and my mind would drift
In 1984,I began teaching via games and simulationsI always encouraged adult students to look at games as reflecting back to what they know, and what they needed to learnMost importantly, a game reflects back on one's behaviorIt's an instant feedback system Instead of the teacher lecturing you, the game is feeding back a personalized lecture, custom made just for you
The friend of the woman who left later called to give me an updateShe said her friend was fine and had calmed down In her cooling-off period, she could see some slight relationship between the game and her cheap replica rolex and cartier watches life