Rich Dad Poor Dad

Rich Dad Poor Dad is a very interesting book. It is told as story of two Dads which in my perspective, exactly points out the difference between service oriented vision of most of the Indian students and business oriented vision in American youth.

Poor Dad is like a typical father in middle class Indian family who expects the child to study hard, get degrees, find lucrative job, get promotions, stick to job and save money to build a secure old life. It represents middle class Indian mentality. Due to stiff competition, few succeed in getting high salaried job. But their dreams of becoming rich, seldom come true as there are so many takers whenever the savings accumulate, like govt, income tax etc. and he remains a middle class or at the most upper middle class citizen.

Rich Dad represents family head in America who expects his child to become young entrepreneur.He deliberately exposes his child to real world, prompts the child to study how the money moves, how to get money, take risk, grab opportunity, increase assets than liability. He creates urge and desire in child to become business owner, do job initially to earn money not to be used as secure saving for future but as capital seed for his business.

True business man knows that desire increases liability and so he spends money not in luxury consumable items or property which invites tax cuts but for investing in projects he knows which will reap benefits.

He doesn’t learn himself to become expert and smart. He is on lookout for hiring smart people who will earn money for him and remain satisfied with good salary.

Rich do not work for money. Money works for them.

Asset is what puts money in your pocket and liability is that which demands money from your pocket now and then.

Can we learn some lessons from Rich Dad Poor Dad book and motivate our students to become entrepreneurs, There are many student owned businesses in America. Lets Go is a big corporation run by students. There are student associations not for merry making and election politics like in India but real business clubs for helping the fellow students in starting business. If we have to become superpower and world leader, it cannot be achieved by turning out service oriented graduates but by adopting strategies aimed at producing business builders and owners like in America.