Premium ESL Podcast Debuting Soon | Business English!

This is another MASSIVELY monumental moment for me. For the first time since the ESL podcast’s inception, I will be creating a premium ESL podcast on a new Canadian Startup site called I’m unbelievably excited about this because I was reached out to from an individual from China who’s doing his BA and graduating Waterloo University in Canada. Him, and a band of team-members, created this unbelievable premium podcasting site that gives creators, such as myself, an amazing opportunity to profit and monetize with everything I’ve been doing so far.

Now, some of you may know already about my Patreon. I wouldn’t so much consider it to be a failure, but I haven’t been advertising it much at all and I would have to shove it down the throats of my listeners to get them to subscribe. Now, having a premium podcast and launching exclusive content is going to be unbelievably key. Oh, and completely different from what I’m doing now.

Because I’m in the Advanced Level of my ESL podcast, there isn’t a next level after this. In fact, I would be switching back to the lower levels while kicking off business English.

Well, for 10$ a month, you’ll be able to access my exclusive business English course (and will be different from the business English course I will launch around May of this year), firsthand, and learn a variety of different things. Well, some of you may be asking: “what’s the difference?” Well, here are some of the things I’ll be featuring in my business English course down below.

  • Developing Fluency
  • Reading
  • Vocabulary
  • Phrase Bank
  • Listening
  • Grammar
  • Interviews
  • Roleplay (International Guest Speakers
  • Workplace Scenarios

As the levels go up, there will be more context, HR, Logistics, Working Across Cultures, Banking and other things implemented. There are so many things to cover within Business English, so this will surely be a 6-season gauntlet that will last for a minimum 3 years.

Nonetheless, I’ll be letting everyone know what’s the premium podcast debuts! Also, I’ll discuss further for any ad-ons and implementations.

Business English

Rich Dad Poor Dad | S5 – E20 |Lesson III | Mind Your Own Business

In 1974, Ray Kroc, the founder of McDonald’s, was asked to speak to the MBA class at the University of Texas at Austin. A friend of mine was a student in that MBA class. After a powerful and inspiring talk, the class adjourned and the students asked Ray if he would join them at their favorite hangout to have a few beers. Ray graciously accepted.

“What business am I in?” Ray asked, once the group had all their beers in hand.

“Everyone laughed,” my friend said. “Most of the MBA students thought Ray was just fooling around.”

No one answered, so Ray asked again, “What business do you think I’m in?”

The students laughed again, and finally one brave soul yelled out, “Ray, who in the world doesn’t know that you’re in the hamburger business?”

Ray chuckled. “That’s what I thought you would say.” He paused and then quickly added, “Ladies and gentlemen, I’m not in the hamburger business. My business is real estate.”

Rich Dad Poor Dad

As my friend tells the story, Ray spent a good amount of time explaining his viewpoint. In his business plan, Ray knew that the primary business focus was to sell hamburger franchises, but what he never lost sight of was the location of each franchise. He knew that the land and its location were the most significant factors in the success of each franchise. Basically, the person who bought the franchise was also buying the real estate under the franchise for Ray Kroc’s organization.

Today, McDonald’s is the largest single owner of real estate in the world, owning even more than the Catholic church. McDonald’s owns some of the most valuable intersections and street corners in America and around the globe.

My friend considers this as one of the most important lessons in his life. Today he owns car washes, but his business is the real estate under those car washes.

The previous chapter presented diagrams illustrating that most people work for everyone but themselves. They work first for the owners of the company, then for the government through taxes, and finally for the bank that owns their mortgage.

When I was a young boy, we did not have a McDonald’s nearby. Yet my rich dad was responsible for teaching Mike and me the
same lesson that Ray Kroc talked about at the University of Texas.
It is secret number three of the rich. That secret is: Mind your own business. Financial struggle is often directly the result of people working all their lives for someone else. Many people will simply have nothing at the end of their working days to show for their efforts.

Our current educational system focuses on preparing today’s youth to get good jobs by developing scholastic skills. Their lives will revolve around their wages or, as described earlier, their income column. Many will study further to become engineers, scientists, cooks, police officers, artists, writers, and so on. These professional skills allow them to enter the workforce and work for money.

Rich Dad Poor Dad

Rich Dad Poor Dad | S5 – E19 | Building Excess Cash-flow

Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive?

Unlike net worth—the difference between your assets and liabilities, which is often filled with a person’s expensive junk and opinions of what things are worth—this definition creates the possibility for developing
a truly accurate measurement. I could now measure and know where I was in terms of my goal to become financially independent.

Although net worth often includes non-cash-producing assets, like stuff you bought that now sits in your garage, wealth measures how much money your money is making and, therefore, your financial survivability.

Wealth is the measure of the cash flow from the asset column compared with the expense column.

Let’s use an example. Let’s say I have cash flow from my asset column of $1,000 a month. And I have monthly expenses of $2,000. What is my wealth?

Let’s go back to Buckminster Fuller’s definition. Using his definition, how many days forward can I survive? Assuming a 30-day month, I have enough cash flow for half a month.

When I achieve $2,000 a month cash flow from my assets, then I will be wealthy.

My next goal would be to have the excess cash flow from my assets reinvested into the asset column. The more money that goes into my asset column, the more my asset column grows. The more my assets grow, the more my cash flow grows. And as long as I keep my expenses less than the cash flow from these assets, I grow richer with more and more income from sources other than my physical labor.

As this reinvestment process continues, I am well on my way to becoming rich. Just remember this simple observation:

  • The rich buy assets
  • The poor buy expenses
  • The middle class buy liabilities they think are assets


Rich Dad Poor Dad | S5 – E16 | In Summary about Homes

In summary, the end result in making a decision to own a house that is too expensive in lieu of starting an investment portfolio impacts an individual in at least the following three ways:

  1. Loss of time, during which other assets could have grown in value.
  2. Loss of additional capital, which could have been invested instead of paying for high-maintenance expenses related directly to the home.
  3. Loss of education. Too often, people count their house
    and savings and retirement plans as all they have in their asset column. Because they have no money to invest, they simply don’t invest. This costs them investment experience. Most never become what the investment world calls “a sophisticated investor.” And the best investments are usually first sold to sophisticated investors, who then turn around and sell them to the people playing it safe.

I am not saying don’t buy a house. What I am saying is that you should understand the difference between an asset and a liability. When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.

My educated dad’s personal financial statement best demonstrates the life of someone caught in the Rat Race. His expenses match his income, never allowing him enough left over to invest in assets. As a result, his liabilities are larger than his assets.

Rich Dad Poor Dad | S5 – E15 | Many Financial Problems are Caused by Keeping Up with The Joneses

No, this isn’t the Gary Vee rant. This is what Robert Kiyosaki wrote in his book decades ago.

That is why my educated dad said the Japanese valued the power of the mirror the most, for it is only when we look into it that we find truth. Fear is the main reason that people say, “Play it safe.” That goes for anything, be it sports, relationships, careers, or money. It is that same fear, the fear of ostracism, that causes people to conform to, and not question, commonly accepted opinions or popular trends: “Your home is an asset.” “Get a bill-consolidation loan, and get out of debt.” “Work harder.” “It’s a promotion.” “Someday I’ll be a vice president.” “Save money.” “When I get a raise, I’ll buy us a bigger house.” “Mutual funds are safe.”

Rich Dad Poor Dad

Rich Dad says “home is a liability.”

Poor Dad says “home is an asset.”

I remember when I drew the following diagram for my dad showing him the direction of cash flow. I also showed him the ancillary expenses that went along with owning the home. A bigger home meant bigger expenses, and the cash flow kept going out through the expense column.

Home as an asset can only be an asset if it’s real-estate. If it’s not real estate, you’re not getting rental income from it; therefore, you’re living in the house.

Also, with a mortgage comes monthly expenses such as property tax, maintenance and utilities.

Rich Dad Poor Dad

  • When it comes to houses, most people work all their lives paying for a home they never own. In other words, most people buy a new house every few years, each time incurring a new 30-year loan to pay off the previous one.
  • Even though people receive a tax deduction for interest on mortgage payments, they pay for all their other expenses with after-tax dollars, even after they pay off their mortgage.
  • My wife’s parents were shocked when the property taxes on their home increased to $1,000 a month. This was after they had retired, so the increase put a strain on their retirement budget, and they felt forced to move.
  • Houses do not always go up in value. I have friends who owe a million dollars for a home that today would sell for far less.
  • The greatest losses of all are those from missed opportunities. If all your money is tied up in your house, you may be forced to work harder because your money continues blowing
    out of the expense column, instead of adding to the asset column—the classic middle-class cash-flow pattern. If a young couple would put more money into their asset column early on, their later years would be easier. Their assets would have grown and would be available to help cover expenses. All too often, a house only serves as a vehicle for incurring a home-equity loan to pay for mounting expenses.

Rich Dad Poor Dad | S5 – E14 | How the Quest for a Financial Dream Turns into a Financial Nightmare

Recently married, the happy, highly educated young couple moves into one of their cramped rented apartments. Immediately, they realize that they are saving money because two can live as cheaply as one.

The problem is the apartment is cramped. They decide to save money to buy their dream home so they can have kids. They now have two incomes, and they begin to focus on their careers. Their incomes begin to increase.

Rich Dad Poor Dad

So because their income goes up, their expenses must go up, too.

Going back to the young couple, as a result of their incomes increasing, they decide to buy the house of their dreams. Once in their house, they have a new tax, called property tax. Then they buy a new car, new furniture, and new appliances to match their new house. All of a sudden, they wake up and their liabilities column is full of mortgage and credit-card debt. Their liabilities go up.

Rich Dad Poor Dad

So then not only do you have income and expenses going up, but now the liabilities go up. It’s the common story of Thai people. They buy a car thinking it’s an asset, but in fact it’s a liability on top of their expenses.

They’re now trapped in the Rat Race. Pretty soon a baby comes along and they work harder. The process repeats itself: Higher incomes cause higher taxes, also called “bracket creep.” A credit card comes in the mail. They use it and max it out. A loan company calls and says their greatest “asset,” their home, has appreciated in value. Because their credit is so good, the company offers a bill- consolidation loan and tells them the intelligent thing to do is clear off the high-interest consumer debt by paying off their credit card. And besides, interest on their home is a tax deduction. They go for it, and pay off those high-interest credit cards. They breathe a sigh of relief. Their credit cards are paid off. They’ve now folded their consumer debt into their home mortgage. Their payments go down because they extend their debt over 30 years. It is the smart thing to do. Their neighbor calls to invite them to go shopping. The Memorial Day sale is on. They promise themselves they’ll just window shop, but they take a credit card, just in case.

Rich Dad Poor Dad

Ask yourself, “does this make sense?

The mirror symbolizes the power of self-knowledge. This self- knowledge, according to Japanese legend, was the most treasured of the three. In the Japanese culture.

If they used the power of the mirror, they would have asked themselves, “Does this make sense?” All too often, instead of trusting their inner wisdom, that genius inside, most people follow the crowd. They do things because everybody else does them. They conform, rather than question. Often, they mindlessly repeat what they have been told: “Diversify.” “Your home is an asset.” “Your home is your biggest investment.” “You get a tax break for going into greater debt.” “Get a safe job.” “Don’t make mistakes.” “Don’t take risks.”


Rich Dad Poor Dad | S5 – E11 | Assets vs. Liabilities | Cash-flow Pattern of an Asset

Rich dad believed in the KISS principle—Keep It Simple, Stupid (or Keep It Super Simple)—so he kept it simple for us, and that made our financial foundation strong.

So what causes the confusion? How could something so simple be so screwed up? Why would someone buy an asset that was really a liability? The answer is found in basic education.

We focus on the word “literacy” and not “financial literacy.” What defines something to be an asset or a liability are not words. In fact, if you really want to be confused, look up the words “asset”

Rich Dad Poor Dad

An asset puts money in my pocket. A liability takes money out of my pocket.

and “liability” in the dictionary. I know the definition may sound good to a trained accountant, but for the average person, it makes no sense. But we adults are often too proud to admit that something does not make sense.

To us young boys, rich dad said, “What defines an asset are not words, but numbers. And if you can’t read the numbers, you can’t tell an asset from a hole in the ground.” “In accounting,” rich dad would say, “it’s not the numbers, but what the numbers are telling you. It’s just like words. It’s not the words, but the story the words are telling you.”

“If you want to be rich, you’ve got to read and understand numbers.” If I heard that once, I heard it a thousand times from my rich dad. And I also heard, “The rich acquire assets, and the poor and middle class acquire liabilities.”

Here is how to tell the difference between an asset and a liability. Most accountants and financial professionals do not agree with
the definitions, but these simple drawings were the start of strong financial foundations for two young boys.

Restoring Self-Trust & The Thirteen Behaviors

Often, the most difficult trust to restore is trust in ourselves. When we violate a promise we’ve made ourselves, fail to follow through on a goal, or act in ways that go against our deepest values, our self trust can really take a die. And when we have repeated infractions, we often beat ourselves up so thoroughly that we seriously wonder if we can ever have faith in ourselves again.

Restoring self trust gives another dimension — a powerful dimension — to the Cores and Behaviors. Just think of how significantly the 13 behaviors apply in your relationship with yourself:

Talk Straight means to tell it like it is — for good, as well as bad. Don’t be around the bush. Don’t try to justify or rationalize what you’ve done, or tell yourself compelling stories. Instead, tell yourself what you should have done and what you need to do to improve. BUt don’t tell yourself lies such as: I’m worthless. I’ve blown it, and I can never make things right. It’s no use to even try. tell yourself the trust: even if it takes divine help, you can make things better if you want to and if you really try.

Demonstrate Respect for Yourself. Don’t beat yourself up over what you perceive as weaknesses or mistakes. Treat yourself with as much love as you would anyone else. Don’t expect more of yourself than you would expect of any other human being in your situation.

Create Transparency in your own life. Be open and honest with yourself about your motives and decisions. Don’t try to rationalize or justify. Don’t try to hide weaknesses or faults; face them and deal with them directly. Be exactly what you are today — and work on being a little better tomorrow.

Right Wrongs you’ve done to yourself. Forgive yourself (which is often the most difficult forgiveness of all). Free yourself so that you can work on developing self trust and confidence again.

Show Loyalty to yourself. Don’t talk negative about yourself or put yourself down — in self-talk or in talking with others.

Deliver Results in your life in the things that you feel are important — whether anyone else considers them important or not. Set goals and make them happen.

Get Better. Set aside time in your life to constantly improve your capabilities. Enjoy the increase in self trust and confidence that comes from developing skills and using your unique talents and capacities, and also from rising to meet challenges that require you to develop new abilities or gain new knowledge.

Confront reality. Don’t live in denial or keep your head in the sand. Don’t give in to pessimism and despair. Face what needs to be faced and move on with courage and hope.

Clarify expectations. be clear about what you expect of yourself. Don’t let others talk you out of meeting your own expectations and don’t let the expectations of others govern your decisions and your life.

Practice Accountability. When you receive insight into something you feel you should do, write it down and hold yourself accountable to do it. Don’t let the expectations of others take priority over your responsibility to follow your own inspiration.

Listen First to your own conscience, to your own inner voice. Don’t let the opinions of others persuade you to violate the things you feel deep inside you should or should not do.

Keep Commitments to yourself. Make commitments to yourself carefully, and treat them with the same respect you feel you should treat commitments to others.

Extend Trust to yourself. Trust your instincts and your intuition. Trust your judgement. trust your ability to receive guidance for your own live. Trust that when your own heart is right, the universe will provide and things will work together for your good.

Restoring Relationship Trust

Another area that creates huge trust issues in personal relationships is money. As many marriage counselors affirm, money problems are a key cause of divorce. While many such problems are caused by lack of character (selfish or impulsive spending, attempts to control or restrict a partner’s access to shared resources, or efforts to hide spending from a partner), many are also caused by lack of competence (lack of education or experience in money management). In addition, two people coming into a relationship are often scripted in different ways by family experience — for example, one may come from a background of spenders, while the other comes from a background of thrift.

Here’s a story from Stephen Covey’s book

“For years, my husband and I had problems managing our money. We would agree to spend our money in a certain way, then he would come home with some new thing we hadn’t agreed on. It was very frustrating, and I eventually withdrew emotionally as a financial partner.

Over time, however, we both came to realize that this situation was negatively affecting the trust in our relationship, and we decided to change. He worked on being more responsible to act based on our agreements; I worked on expressing my opinions better and participating more fully in financial decisions. And together, we became involved in learning more about good financial habits, including budgeting and investing.

It’s taken quite a while to shift old habits, but through it all, we’ve become amazingly close and more unified in our financial values, goals, and habits. In fact, I’d say that now financial units is one of our strengths. Doing something together that was this challenging has created even strong bonds of trust in our entire relationship.

Restoring Organizational Trust

Restoring trust within an organization may seem difficult, particular if the focus is almost exclusively on producing and is not balanced by the need to maintain the capacity to produce in the future. However, the fact that high-trust organizations outperform low-trust organizations by three times provides a strong incentive to make the effort. High trust not only creates a great working environment, it also provides a powerful competitive edge.

All I know is that trust was not only restored, it was enhanced, with both the director and the team. Looking back, I can see how this experienced validated the importance of showing loyalty and righting wrongs, the value of restoring trust in the organization, and the impact of trust on speed and cost.

Here’s the podcast with the stories and travel experiences!