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.


Anonymous 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.

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? ^_^

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. (:

Shingo T said...

Haha, I played hopscotch too!

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