Robert...Rich Dad Or Poor Dad?

Robert Kiyosaki is probably one of the most read authors in the world. Many years ago, I made an unusual effort to read his bestseller 'Rich Dad, Poor Dad'. At the time I read the book, the reasonable deduction I made was that, a man's future solely depended on how he invested his present. Many folks also made similar deductions after reading the book. He sounded like he had lived before and was giving advice on how he lived previously, the mistakes he made, the corrections he made in the new life and the remarkable results those corrections produced. He blew many away and his about, 15 publications sold a whopping 26million copies globally.

Yesterday, I was again reminded that indeed the Bible knows all. Somewhere in the book of Ecclesiastes, King Solomon sagely states that '...but that time and chance happens to them all'. 

Yesterday, Mr Kiyosaki filed for corporate bankruptcy. Time and chance happens to even the smartest of us.

After many years of advising many average families on means and models of investing their present, most people never imagined 'Kiyosaki' and 'Bankruptcy' would ever be in the same sentence. It just sounded like folly. It could be likened to saying Usain Bolt could not outrun a toddler who was riding a plastic tricycle. Its just strange to imagine. Personally, the only thing I could utter was 'Na wah o'.

While I agree nobody is perfect and to err is totally human, I believe somethings should not be attributed to some individuals. Many homes have adopted his models for investment, in a bid to outsmart the uncertain future. The copy I read was lying around somewhere in my house at the time. I suspect my father procured one too to intimate himself of the wonders from Kiyosaki's pen. I doubt he ever foresaw a bankrupt Kiyosaki. It was heresy.

So the question is, what went wrong?

Before I proceed, let me clarify the fact that Mr Kiyosaki is insolvent does not necessarily translate to him being broke. No. On the other hand, he may still be quite rich. It does not mean he'll starve or be unable to pay his bills. Far from that. He still has money and he will probably still die a comfortable man. One of his companies was ordered to settle a smaller company some millions of dollars and for whatever reason Kiyosaki believes he is not capable of fulfilling that financial obligation. He then proceeded to court to file for insolvency. His real reasons, we may never know.

What bothers me is not his current account balance in the bank but the degree to which the 'Rich Dad, Poor Dad' and the 'Robert Kiyosaki' brands will be hurt. Believe it or not, brands are what they are. Precious and sacred. Eventually, a brand can gross more in earnings than an entire board of a medium sized business. Brands are powerful and the 'Kiyosaki' brand is not an exception. A misadventure such as bankruptcy can permanently damage the image of the brand and such damage will, sooner or later, take a toll on gross earnings accrued to the man himself.

The integrity of a brand must be guarded jealously. With sweat and blood. Sometimes in the murky waters of the corporate world, one may not get the luxury of second chances. 

More recently, there was the story of a missing iPad on a local commercial flight in Nigeria. The supposed victim, a vociferous social media user, launched a barrage of media campaigns against the airline. The series of campaigns culminated in the airline asking to meet with the blogger and quietly shaking hands and brokering peace with a new computer. The airline understood the importance of keeping the reputation and integrity of a brand sacred. Sometimes, and most times, a stitch in time saves nine.

I know of a small scale businesswoman in Lagos. Some years back, she took a brave step into the world of branding her own weaves. The brand was well accepted in the market and was gradually establishing itself as a relevant market player. This trend continued till a few customers complained about the quality of the product. She was forced to investigate and eventually discovered pirates had cashed into the sprouting brand. They had started repacking and reselling lower quality products in the name of her brand. She swore to haunt them down and she did, at least at the time. I wondered why the aggression on her part and her response was quite insightful. She said, piracy was the beginning of the demise of any brand. Once integrity is breached, it is only a matter of time. For a small business like hers, time was not a luxury she had, especially at that budding stage of its existence.

Entrepreneurs must learn from Mr Kiyosaki's dilemma today. It is important to have a good start, but like in figure-skating, the end is also just as important, if not more crucial. 

No man knows it all. Even the best of us falter. No matter how implausible or inconceivable it may be, time and chance can happen to anyone and anything. 

My friend opined yesterday that he fears for the next book Mr Kiyosaki will publish. Its not likely many people looking to build global empires would rush to the book-stands upon its release. 

After-all, Mr Kiyosaki yesterday announced to the world he's not quite sure which, even him the author is. A poor dad or a rich dad.

Make hay while the sun shines...