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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

Surviving Tough Times: Lessons for Entrepreneurs and Small Business Owners

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.13.9K Ratings

🗓️ 21 April 2023

⏱️ 34 minutes

🧾️ Download transcript

Summary

Are you an entrepreneur or small business owner wondering how to survive a bad economy? Look no further than the advice of Vic Keller, a serial entrepreneur and private equity expert. In a recent episode of the Rich Dad Radio Show, Keller shared his insights on how to prepare for and navigate difficult times.

One key takeaway? Be both a pessimist and an optimist. While it's important to be realistic about the challenges ahead, it's equally crucial to seize opportunities when they arise. Keller also stressed the importance of focusing on efficiency and protecting margins, as well as retaining and serving your customers through increased marketing and promotion.

But perhaps the most important factor in building a successful business? People. Keller emphasized the need for a talented and passionate team, and advised entrepreneurs to surround themselves with tenacious, ferocious learners who understand the economy. He also stressed the importance of treating employees as partners, rather than just employees.

So, whether you're just starting out or trying to weather a storm, remember these key lessons: be adaptable, customer-focused, and efficient; stay true to your principles and mission; and surround yourself with the right people. And don't forget to stay legal, ethical, and moral in your business practices. With these tips in mind, you'll be better equipped to survive and thrive in tough times.

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Please read carefully.

This is not financial advice.

You may be asking, “what does that mean?”

Let me explain…

Do not just do what I, my team or my guest says. That would be stupid and irresponsible. Take the education, then use your own brain and make your own decisions.

YOU must take responsibility for your future and your success. That is why you are here. Neither I, or my team, or my guests, know your risk levels, prior education, emotional maturity or how much money you can afford to lose.

We are only telling you what we believe to be smart moves. But you must decide for yourself. There are NEVER guarantees.

Also understand that we are REAL teachers. We practice what we preach. With that in mind we often invest in the very projects that may be mentioned on this show. While it is never our intent, we could possibly profit from others investing in our recommendations.

Take the education we provide but then determine your own actions. If it does not make sense to you, get more education before you invest. We will continue to provide education and there will always be more opportunities.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Rich Dad Radio Show, the Good News and Bad News About Money.

0:07.0

Here's Robert Kiyosaki.

0:08.8

Hello, hello, hello, Robert Kiyosaki.

0:10.4

The Rich Dad Radio Show, the Good News and Bad News About Money.

0:13.6

Today we have a very important show for people who are entrepreneurs or small business

0:19.8

people.

0:20.8

You know, how do you prepare for what's hitting us right now?

0:24.4

We just had George Gamin on earlier and was talking about the inversion of the yield

0:29.9

curves and what that means.

0:31.9

But also for many people in a bad economy is sometimes the best time to start.

0:39.0

So it's almost counterintuitive.

0:41.6

So today our special guest is Vic Keller.

0:44.2

He's a CEO and founder of KLV Capital and Experience Ventures.

0:48.3

He's an serial entrepreneur.

0:49.8

He can't help himself.

0:51.8

And he's going to be, he's also founded a private equity company that goes out and acquires

0:56.6

other small businesses, takes him bigger.

0:59.7

So he's going to be talking about how you prepare for this crash we're in, but also what

1:04.2

does private equity look for in a startup or a small business.

1:08.8

But more importantly, how do you survive what we're going into right now?

1:13.1

And you know, I hate to be a pessimist, but being a pessimist is good if you're a pessimist

1:18.0

at the right time.

...

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