When we have to choose the B quadrant then we have to create a system and people will work for that system.
In the B quadrant, we need to know both system and people. It can be possible that our initial business might not work but we just have to focus on improving ourselves, our knowledge of the system, and people. Improvement in our knowledge only brings success in front of us. And it’s essential to get failure in initial business because if not then we will end up with big blunders later on. So, success is a poor teacher and failure teaches us a good lesson. Welcome failure, not run away from it. Learn from it and grow well.
If both the people and the system are leaky, the chances of failure are great. Sometimes it’s hard to know whether the problem is the person or the system that is failing.
There are few ways by which we can get support for starting a business
- Find a mentor
A mentor who has operated his own business, not an advisor who has not operated any business. We need to learn from a mentor. Mr Sanjeev Bhikhchandani (Founder of Naukri) has supported Zomato.
We have to become a leader, not a manager. A manager sees subordinates as inferior but the leader appreciates smarts and brings them with him.
- Buy a franchise
Franchises are a proven system. So here we are directly buying a system, not building our own. Now, we have to work as an E and follow what they told us to do. Because they have done it rightly, we should follow it right to get succeed. Investors or bank would lend money to a system rather than to a product.
- Get involved in network marketing
Here also buy the existing system at a reasonable value and build own business. We get infrastructural benefits from a network marketing company. It’s a kind of buying a personal franchise.
For becoming a successful B, we require to have a few things to keep in mind
- Don’t be fearful
People feel fear of what others say to them. Feel fear of getting a rejection.
- Have to work with different kinds of people. For becoming successful, we need to learn to work with different kinds of people, lead them.
The system is only going to help us to drive successfully towards the B quadrant from the E or S quadrant. Building a system and working with people is lifelong learning for becoming successful in the B quadrant.
Read for more detail: Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom
I am grateful to Mr.Meihol Jhaveri (Founder of Gatisofttech) for development of Lucky Idiot website.