Page 98 - Midas Touch

As I picked up the pieces of my crushed fake Rolex, rich dad continued
with his lesson, saying, “Very few entrepreneurs ever turn their business
into a brand.” A brand is priceless. A brand is a promise from the
entrepreneur to their customers. A true brand starts in the soul of the
entrepreneur and connects with the soul of the customer. It is a

relationship, much more than a transaction. In some instances, it is a love
affair, a love affair that can go on for years.

“If the soul of the entrepreneur is dishonest or greedy, caring only about
the customer’s money and not caring for the customer, the entrepreneur’s
business will never evolve into a relationship. It will remain a transaction.
And a transaction is a commodity.”

Once the pieces of my fake watch were in the trash can, rich dad said,
“The reason so few businesses become brands is because most businesses
are primarily in the business of making money. They say they want to do
their best for the customer, but for most businesses, that is only hot air.
They don’t mean it. The more you care about your customer, the better
chance you have of your business becoming a brand. Even if your brand
does not grow into a Coca-Cola or McDonald’s, if you care about your
customer, your customer will carry your brand in their heart.”

Creating My Own Brand
When rich dad crushed my fake Rolex, my business education into the
power of a brand began. I became curious. I did not want to just start a
business. I wanted to create my own brand. To do that, I knew I had to

study other brands and, at the same time, begin searching for what I stood
for, what my customer wanted, and what I wanted for my customers. To do
this, I knew I had to begin finding out about myself, and about my
business. I had to focus more on giving than receiving. I had to find in my
soul, in my heart what I wanted to give to my customers. Once I
discovered what I wanted to give, I knew I would find the soul of my
business and maybe my brand.

My first big business was my nylon-and-Velcro surfer-wallet business.
The name on my products was “Rippers.” At first, I thought Rippers was a
great name. I was sure it was going to turn into a brand. I thought the name