SteveBizBlog

Successful Business – Buy Four Green Houses Before You Buy a Red Hotel

Before Starting a Small Business / Bank Loan, Banks, Start Slow, Personas, Tacit Knowledge

Robert Kiyosaki, the author of “Rich Dad Poor Dad”, discussed the value the game Monopoly had in his education when he wrote that “You buy four green houses and trade them in for a red hotel.” The message here is that to have a successful business you don’t buy the red hotel right out of the gate. You build up your tacit business knowledge so that when you can afford the red hotel you are more likely to be successful.

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Tacit Vs Explicit Knowledge – Why You Need To Know The Difference

Concepts Entrepreneurs Need to Know / Misinformation, Start Slow, Tacit Knowledge

One of the problems with obtaining any kind of knowledge, especially when it comes to business, is that while some kinds of knowledge can be easily codified and articulated to others (Explicit Knowledge), there are also some forms of knowledge that are much harder to pass on and must be experienced (Tacit Knowledge).

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Curiosity: The Fundamental Attribute of Successful Entrepreneurs that No One talks about

Concepts Entrepreneurs Need to Know / Tacit Knowledge

Most business articles neglect to discuss one fundamental attribute that is a critical part of a successful small business owner’s personality. This dimension of their personality is so important that some say it is the linchpin to business success. Yet, rarely do you see it discussed in any business books. So, what is this attribute?

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