Saturday, August 15

Building entrepeneurship in the kid

A former colleague of mine, someone known for many sources of income, once told me that he gave his kid a PSP (Playstation portable).

The kid was told that he has 2 choices.
(1) To play with it, or
(2) to rent to his classmates at $1 per day.
With the money earned, he can slowly save up to be able to afford a 2nd PSP.

By the time the kid got his 2nd PSP, do you still think he is keen to keep it to play? After all, with a second PSP, the kid can rent both of them out at $2 per day.

I thought that was one neat way to teach the kid his first lesson at entrepeneurship.

7 comments:

Mei Teng said...

Smart guy!

HappySurfer said...

It takes some adjusting to one's mindset esp a child's as children are prone to be possessive and we're talking about a prized toy like a PSP. Kudos to the dad for the entrepreneurial thought and to the kid for his willingness to share, albeit at a price.

Illuminating post. Thanks.

Cherish Tulips said...

That's really smart thinking there!

Roxy. said...

Great idea. but hmmm, looking on another side,sort of show how money revolve around everything.

Shingo T said...

Mei Teng:
Agreed, though some parents may argue that we should give kids some childhood before teaching them real life skills.

HappySurfer:
Kids are like dough. You gotta mould their mindsets before it hardens and they become stubborn old mules.

Cherish Tulips:
Haha, wanna try it with your coming kid? ^_^

Roxy:
Most stuffs come with a price tag, isn't it?

Roxy. said...

True, but the air we breathe is free. I guess there is too much emphasis on money. Kids do not just play stuff that they can easily find on the floor or whatever. Not saying that i did that. But i did play 5 stones and hopsotch though. Those were free. (:
haha

Shingo T said...

Roxy:
Haha, I played hopscotch too!

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