Robert Kyosaki “Rich Dad Poor Dad” best selling author teaches Entrepreneurs to look at 100 properties if your in Real Estate, or look at 100 Business’s if your in Private Equity before making a decision to buy. Why would I share expert advice from the ultra successful Investor Robert Kyosaki? Because I have used his advice and won! It’s that simple. Here is another reason I follow Roberts teachings and listen intently. Robert and myself are both USMC Veterans and trained Pilots, we literally have many things in common with each other like seeing the world through entrepreneur lenses. Not to mention a laundry list of other interests that intersect. His advice is 100% rock solid. This is why I listen to his advice and share his fantastic wisdom. Im going to share why this business rule and strategy could be useful for all areas of your life and how it has worked for me. And since I am naming Business Heavy Weights I personally watch. Do you know who Noah Kagan is? Look him up! I feel Noah would most likely agree a 100% with my post.
What is the 100 Rule?
Here’s the problem I see most of the time with Entrepreneurs. They expect results way to quickly and they have no strategy at all. Or they just have no patience and are quick to move on to the next project without really giving their best. However if you do decide to use this information in this blog post? It’s likely you may be impressed with the results. And this information may just change your entire life!
Many month’s ago I was driving my usual circuit of pit stops and making my way to the Plaza’s Barnes & Nobles Book store. While driving an interview video popped up of Noah Kagan the CEO of App SUMO & OK DORK and Ryan Holiday author of “Trust Me Im Lying” . If you don’t know who these fellow Entrepreneurs are? You should go watch some of their Content and Read Noah’s book. 100% They get it!! And we have similar experiences of knocking on thousands of doors and learning rejection is just apart of the process and will make you stronger. This is one thing I really love about Noah videos. He is transparent about his battles. I can relate to his experiences 100%
While Noah and Ryan were sitting at a Table on this video interview their conversation veered to a subject about the The One Hundred Rule. Your probably asking yourself What is the One Hundred rule? Im happy your thinking ahead. The One Hundred Rule is exactly this in it’s definition. Say your writing a Blog or starting a Youtube Channel or even Selling a product you made to the open market. The One Hundred rule makes it clear that in order to know if your Blog, Youtube Channel, or Product is worth pursuing and not quitting? You must write One Hundred Blog Posts, create One Hundred Youtube Videos or even Pitch the product you made to One Hundred Executives before deciding if this was worth your time to keep going? Or to quit. This same rule can be applied to Finance, M&A, and especially Business Strategy!!
The One Hundred Rule Used By Warren Buffett and Charlie Munger
If you watch Warren Buffett and Charlie Munger’s videos from the Berkshire Hathaway Annual Meetings Q&A sessions. You will hear in their answers how Warren and Charlie have both referred to looking at One Hundred Businesses before deciding which business they would like to invest in and take a official position. There must be only one explanation. They use the One Hundred Rule. I have even heard Warren Buffett refer to reading a Hundred different Annual reports in order to begin his deliberation on which company to invest in when the market was bearish. Fascinating stuff right? Yep!
How Im Using the One Hundred Rule in Mergers & Acquisitions?
If your in the Big leagues of Business your definitely not ever going to just rush into a decision of buying a business. It’s been my experience that many people will openly lie to you. They will waste your time, and they will try and deceive you along the way for their own gain. Here’s a great example. While searching for Vineyards in the Midwest as Targets to buy it became very clear very fast almost all the vineyards in the midwest are small family run farms with a very small section of vineyards on these remote country estates. They do have make great small income streams from their cash flow.
The revenue streams from these Vineyards and Wine tasting businesses relies heavily on traffic from the city’s. They rely on this traffic so they are able to stay in business. And then Corona Virus hit! That basically destroyed this cottage industry literally overnight. And many of these country vineyards and estates were put on the market by online Business and Real Estate Brokers. I had inquired about a few of these vineyards or estate’s because I could see these vineyards repurposed for maximum returns on investment. But almost every Broker I spoke with wanted to highlight the Vineyards history of profit. And market these real estate properties as turn key businesses. I don’t know about you. But investing in a business that relies on a market that has gone bust is not a attractive investment opportunity. LOL I did not buy an estate vineyard. Because I looked at One hundred Wine and Beverage opportunities. That decision and using this strategy saved me from making a bad decision.
How the One Hundred Rule is shaping my Business & Finance Blog?
As this blog continues to grow and continues to introduce new Business Strategies in Entrepreneurship, Finance, Business Strategies and more. We see I am using the One Hundred Rule to evaluate the optimal direction I as the writer and content producer should travel. The input and support this blog is receiving from the Business community is truly a blessing and humbling at the same time. Especially considering I am not a professional writer.
So at the end of the day if you want to test an idea, a business strategy or an idea in your personal and professional life? I would recommend to try using the One Hundred Rule when deciding if something is worth pursuing or not. It gives you metrics, it gives you data and results to look on and ask yourself? This is interesting or it isn’t interesting. Should you put more time into this idea or shouldn’t you? Because realistically at the end of the day If you have followed this rule and pushed through the roadblocks and challenges. I feel your likely to agree you accomplished something amazing and surprised yourself. All because you took the time to use this fantastic little rule. Thank you for reading and thank you for your thoughts and comments below.
Do you agree using the One Hundred rule give you an advantage when most people in our society are likely to quit when they don’t see results after attempting a task or goal once or twice? Let me know.
Godspeed
JS