Page 97 - Midas Touch

Rich dad nodded his head, adding, “And buying from people who steal
from Rolex says, ‘I buy stolen goods. I stole someone’s good name.’ And
who wants to do business with someone who is dishonest, cheap, sneaky,
crooked, and a phony?”

“Only people who are also dishonest, cheap, sneaky, crooked, and phony,”
I reluctantly answered.

“If you found out your neighbor with the nice cars and the boat was really
a criminal, what would you think of him?”

“Not much,” I replied. “I would avoid him.”

“That same kind of judgment goes on in business every day,” said rich dad.
“Honest people do not do business with dishonest people. Your reputation
is the foundation of your brand. Guard your reputation with your life. In
business, your reputation is more important than your business.” With

that, rich dad extended his hand towards me, palm up.

I took off the watch and dropped it into the palm of his outstretched hand.
Rich dad put the watch on the floor, placed his shoe on top of the watch,
and crushed it. Because it only cost five dollars, it crushed pretty easily. I
got it.

That was many years ago. Today, counterfeit products, knock-offs, and

pirated copies of brands are everywhere. It is a mega-billion-dollar
business. There are even counterfeit pharmaceuticals, some of which are
actually harmful! Can you imagine how it must feel to lose a loved one
because he or she was taking a fake prescription drug, thinking it was the
real thing?

In every major city throughout the world, there is at least one street where
counterfeit brands and pirated products are readily available. On these

streets, you can buy fake Louis Vuitton handbags, fake Nike basketball
shoes, fake Armani jeans, and fake Prada sunglasses.

Pirates are entrepreneurs too. They are simply entrepreneurs who steal
someone else’s brand rather than create their own brand. As long as there
are customers who will buy fakes, there will be pirates. If customers were
honest, there would not be a business for pirated products. Only crooks
sell stolen goods, and only crooks buy stolen brands. Honest people don’t

do that.