Book Review: “Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don’t” by Donald J. Trump & Robert T. Kiyosaki

I think this book is a more coherent version of the past work of Robert Kiyosaki and Donald Trump. Drawing analogy to the five human fingers, the authors details the 5 essential success factors for entrepreneurs. Among the 5, I believe the middle finger or brand is most refreshing of all. The others were more of the repeat of the past work. But if you haven’t read the earlier work like the 8 integrities, BI quadrants, and etc., this book would probably surmise. More details of the five fingers are as follows:

The five-finger symbolism of the Midas Touch:
1. Thumb: Strength of Character
Lots of old failure stories between Robert and Donald.
7 types of intelligence. Sacrifice is part of the journey. Strength is an attitude, a discipline, determination and drive.

2. Index: F.O.C.U.S. Follow one course until successful.
Focus but not specialization. Entrepreneurship favors generalists. Lead the specialists to do the tasks and the work. Work to learn, not to earn. Learn the languages of business.

3. Middle: Brand: What you stand for.
Robert’s Fake Rolex story. Big-picture questions: 1. Why do you do what you do? 2. What problem do you want to solve? 3. Who or what is your competition? Great brads are: genuine, meaningful, and different. People buy with their hearts and justify their purchases with their minds. Have the courage to find your heart and put into your brand. Figure out what really moves you. Improve your public-speaking skill.

4. Ring: Relationships: You can’t do a good deal with bad partners.
Best partners are made up of the dreamer, business person, and the S.O.B. Partner with people who share your values, attitude and drive. Plan for the end of relationship before you begin by drawing up a buy-sell agreement.

5. Pinkie: Little things that count; successful entrepreneurs do that others don’t. Big difference from thinking small. Discover that little thing in your business that can be a big thing to your customers. Uncover your gift. Be generous with your energy and success. Bring others along for the ride and reward them well. Commit too being a lifelong learner. Design your business from the start so that it’s leverageable, expandable, predictable, and financeable.