The B-I Triangle

There are many people with great ideas but few people with great fortunes. The B-I triangle has the power to turn ordinary ideas into great fortunes.

Sides to B-I triangle

Each side is critical to the
stability and long-term success of the business

Prudent management is
the ongoing activity that fulfills the promise of mission, team, and leader.

Inside the B-I Triangle: five

management tiers

What does mission mean?

A mission that serves customers first, and serves them well, will: Keep the entrepreneurial flame alive Serve as a beacon in the early years Eventually reap profits Keep your business focused
In the hands of a devoted entrepreneur, can take on spiritual overtones.

Henry Fords mission: Democratize the automobile. Rich Dads Tip Just to make money is not a strong enough mission. The mission of a business should be to fill the customers need.

The second side of the B-I triangle

A team is a collection of specialistsaccountants, bankers, attorneys, insurance agents and so forthwith differing skills. owner or investor gets the broadest education possible (entrepreneur needs, an expansive view of the world, not a single, specialized skill) Go for the team, not the Cadillac
Rich Dads Reminder Business is a team sport. A successful team-driven business depends on investors, owners, employees, and specialists.

CASHFLOW Quadrant
(employee, self-employed or small-business owner, business owner, and investor)

in the E and S quadrants tend to be solo players and want to do things on their own B and I quadrants have shed the common notion that building a business is risky

The third and final side of the B-I triangle.

A true leader is part: Visionary: The leader conceives the
mission and keeps all eyes focused on it

The person who thinks he or she is the smartest person on the team isnt a true leader

Cheerleader: he or she heralds the

successes of the team as it strives to fulfill the mission

Pit boss: this person makes the tough calls

regarding issues that distract the team from its mission. The leader is able to take decisive action while focusing and inspiring the troops.

Listener: They have the ability to listen,

It is the person willing to listen and learn who has the makings of a great leader Rich Dads Tip A leaders job is to bring out the best in people, not to be the best person.
and by listening, they gain invaluable feedback from the team

Inside the B-I Triangle (1/3)

Cash flow management means financial literacythe ability to read and make sense of financial statements Communications Management
External communication: raising capital, sales, marketing, customer service, and public relations

speak the language of the common folk, for this is the language that opens ears and hearts.

Internal communication: sharing the companys successes with the entire team, staying in touch with advisors, and having regular meetings with employees Investors, advisors, and employees can get away with speaking the language of their specialized areas The entrepreneurleader of the flagshipmust speak the language of all.

Rich Dads Tip All great leaders are great public speakers.

Through stories, the leader motivates the team to fulfill the mission.

Inside the B-I Triangle (2/3)

Systems managed in a typical Bquadrant business include:
Product development Office operations Manufacturing and inventory Order processing Billing and accounts receivable Customer service Accounts payable Marketing Human resources General accounting General corporate Physical space Computer systems

General director must be in charge of making sure all systems operate with maximum efficiency

Inside the B-I Triangle (3/3)

Legal Management Here are some areas of the law where attorneys can prevent problems:
Contracts Intellectual property General corporate Shareholders Labor Consumers Securities and debt

Lots of businesses go under because they fail to protect their intellectual property

Product Management
Product is at the top because:

it embodies the businesss mission

Success in selling product depends on all the tiers below In one sense, the product should be viewed as the least important part of the business
Take away the rest of the B-I triangle and the product has no value

Never underestimate the power of patents, trademarks, copyrights and contracts

All the elements of the B-I triangle must be present and working in harmony for your business endeavor to succeed.

Solving the B-I Triangle Riddle

The difference between people in the E and S quadrants and people in the B and I quadrants is that:
The E and S side tend to be too hands on They stay busy in their busyness and never build anything. You dont have to become imprisoned in busyness.

Once you master the art of building B-I triangles, you will find that the less you work, the more money you make. You will also discover that it doesnt take money to make money.
If you develop your ideas and build B-I triangles around them, investors will come to you.

Building Brand and B-I Triangle

Building Brand and B-I Triangle, Robert Kiyosaki-1.mp4