According to Wikipedia, which I always trust to be 100% accurate (wink), “A rat race is an endless, self-defeating, or pointless pursuit.”
Now I don’t mean to take the wind out of your entrepreneurial sails, but with millions of entrepreneurs and small businesses, many of which may be targeting a similar audience, it’s not easy to get ahead.
The majority of us are in this so called rat race. That doesn’t mean we can’t enjoy it or live comfortably with mildly successful businesses, but for some of us, we want more for our business, families and the customers we serve.
According to Rich Dad, Poor Dad bestselling author and entrepreneur Robert Kiyosaki, there’s only one way to get out of the rat race. “The only way to get out of the “Rat Race” is to prove your proficiency at both accounting and investing, arguably two of the most difficult subjects to master,” says Kiyosaki.
He may have been talking about personal finance rather than how to get ahead of a business, but it applies just the same. Financial intelligence influences our ability to succeed financially. Kiyosaki says, “I have mentioned before that financial intelligence is a synergy of accounting, investing, marketing and law. Combine those four technical skills and making money with money is easier.”
Trying to master the subjects of accounting, investing, marketing and law all by yourself is probably not a recipe for success, but if we can surround ourselves with people, partners, and other businesses that do specialize in these areas, we can leverage their expertise for our benefit.
What we’re missing here
What is missing here are the other ways your business can rise above the sea of others fighting for the same market. In business, it doesn’t always come down to the knowledge you have, but the full package of products and services you provide.
Accounting, bookkeeping, knowing laws that impact your industry and how to invest your assets is what will keep your business going and help avoid pitfalls, but they won’t necessarily get you ahead.
So what else can help you pass the other rats on the track?
If your business is solid on the backend (accounting, low-risk, etc.) and provides a desired product or service, your customer service is what will get you to your ultimate business goals. There are customers just waiting for a better experience, literally. 59% of Americans would try a new brand or company for a better service experience. No market share or dominant product with average or below average customer service is untouchable.
So the next time you feel that you’re stuck and can’t get ahead. Look at your books first to make sure you’re doing everything within your means on the financial side, and then go to your customers and provide them with the best darned experience you possibly can.
Good luck in the race. We’re here if you need help getting to the finish line.