Blog | Entrepreneurship

How to Be a Great Leader

Great leadership qualities; be like the best.

Summary

• Weak leadership = failed business

• Volunteering is the first step to understanding leadership

• You can’t do it alone - build the right team to become financially free

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When Robert Kiyosaki was a young man, he decided to attend the federal military academy, rather than a normal university. He did this because he knew he needed to develop leadership skills in order to become a successful entrepreneur.

So after graduation, he went into the U.S. Marine Corps, where he became a pilot in the real world.

His commanding officer said “Gentlemen, your most important job is to ask your troops to risk their lives for you, your team, and your country.” He went on to say, “If you don’t inspire them to do that, they will probably shoot you in the back. Troops don’t follow a leader who does not lead.”

The same thing goes on in businesses every day. Most businesses fail because they have weak leadership, not because of outside factors.

Why leaders are important

History is filled with stories of great leaders. Unfortunately, most of them were murdered. Even more interestingly, each leader could technically be called a “terrorist.”

President Kennedy

Robert’s favorite president was John Kennedy. As a student in high school, he heard him speak and was left feeling uplifted, inspired, and optimistic about the future of the United States and the world. Even Robert’s parents were so moved by President Kennedy, they left their jobs, took pay cuts, and volunteered for President F. Kennedy’s Peace Corps. Although they struggled financially, their days in the Peace Corps were the happiest days for the family. They were working for a noble cause and a brighter future for the world.

President Kennedy was a terrorist to anyone who was a racial bigot. As a result, the Civil Rights Movement made tremendous progress during his presidency, and the Civil Rights Act of 1964 was passed shortly after his death.

Reverend Martin Luther King Jr.

Reverend Martin Luther King, Jr. was also a terrorist to racial bigots. When he spoke of little white girls and little black boys, some would say he signed his death warrant. When he delivered his “I Have a Dream” speech, one of the greatest orations in history, he sealed his fate. The following is an excerpt of his speech—little more than a group of words—which certainly terrorized bigots all over the world:

“I have a dream that one day, down in Alabama, its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right there in Alabama, little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers.”

The idea of little black boys and girls joining hands with little white boys and girls was a thought that many believed had gone too far. You know what those people are called.

Nelson Mandela

On December 6, 2013, the last great leader passed away. How Nelson Mandela avoided being murdered is beyond miraculous. No one had to call him a terrorist. He called himself a terrorist to anyone who believed in apartheid. How he united black and white South Africans without being murdered is a testament to his leadership.

Many in the United States believed he was a terrorist, even after he was released from prison and became the President of South Africa. It wasn’t until long after his release that his name was finally taken off the U.S. government’s terrorist watch list.

To many, Nelson Mandela is regarded as the last of the great leaders. But rather than despair over the lack of great leaders, instead, his passing is a message to everyone: The passing of a leader means that we all need to step up and dare to become greater leaders ourselves.

Which begs the question: do you have a cause worth risking your life for?

Leadership traits: say, “I’ll do that;”

One of the most valuable lessons rich dad taught about leadership was, “A leader’s job is to bring out the best in people, not be the best person. If you are the smartest person on your business team, your business is in trouble.”

Naturally, many people ask how to be a better leader. In Robert’s case, the advice is always the same: volunteer more.

In most organizations, it is hard to find people who actually want to lead. Most people are just fine being told what to do.

Robert advises people “At your church, volunteer to take on projects. At work, volunteer to lead projects. In your community, volunteer to coach sports teams.” By doing this, you can gain valuable leadership experience—and make a lot of friends who can help you out down the road, both in business and in life.

The secret of a true leader

Through volunteering, you can get feedback on your real-life leadership skills. If you volunteer to lead and no one follows, you have some real-life learning and correcting to do! You’ll need to ask for some feedback and act on it.

A true leader knows when to listen to others. Even Robert has said before that he’s not a good businessman or investor; only average. But he relies on the advice of his advisors and team members to help him be a better leader.

That’s right; team members.

Leaders assemble the right team

Robert's rich dad said, "Business and investing are team sports."

So many people view their financial journey as a solo endeavor. Maybe they tackle their financial goals with their spouse, but for the most part, they shy away from seeking help.

That's a big mistake. When you try to go it alone, your journey will be a constant uphill battle.

That's why, in every financial endeavor you take on, whether it's getting out of debt, starting a business, investing in a new asset class, or saving for retirement, you need a solid team in place that you can trust to help you achieve your goals.

Building your team

Your team should include experts in many different areas who can advise you on how to achieve your financial goals.

Some key players for your team include an attorney, a CPA to help with accounting and taxes, an objective and well-vetted broker, various experts in your chosen investment and business areas, mentors, and coaches.

Additionally, you need a solid support system made up of friends, family, even life coaches, who can help keep you grounded and sane.

An important thing to keep in mind when selecting your team members is to make sure they have your best interests in mind. In other words, make sure they're playing for you and your team, and not someone else's. Oftentimes, financial planners or advisors are playing for the team of the mega-corporation or bank they work for. They don't care about your goals, they care about making profits for themselves and their bosses.

By building a team of advisors whose opinions you trust, and who prove that they care about your success, you can create a winning game plan that works for you.

Vetting your team members

There are so many options for advisors and coaches out there. Everyone wants to offer you advice, or tell you what to do with your money. So how do you pick out the good financial advice from the bad? How do you choose the best members for your team?

Start by asking some questions.

1. Is the person offering the advice successfully doing what I want to do?
2. Does the advisor practice the advice they preach?
3. Is the advice clean of commercial ties, biases, and paid endorsements?
4. Is it really financial advice or a sales pitch?
5. Are they interested in creating a long-term relationship, or do they view this as a one-time transaction?
6. Finally, do you trust this person? In your gut, do you feel they are ethical, moral, and forthright? Do you trust them to tell it like it is?

Always seek to be better

The secret to being a great leader? Ask, genuinely, how you can be better.

As Robert’s squadron commander used to say, “True leaders are not born leaders. True leaders want to be leaders and are willing to be trained.”

Improve your leadership skills by learning from other like-minded individuals in our free, online community.