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Book Review : Rich Dad Poor Dad become Entrepreneur

How to become Entrepreneur
Review Rich Dad Poor Dad

How to Become Entrepreneur

 

This Review is about how you can train your self to become an entrepreneur. The first thing to be learned is to create awareness of how one should manage his financial life and groom ones knowledge on financial subjects. Today I do know the definition of different accounting terms like assets, liabilities and expenses but I have learned the importance of using these terms in one’s life.

An interesting definition Rat Race that I have been able to understand from this book is what everyone is trapped into it. 95% of people I know and I meet in daily routine are stuck in rat race as explained specifically on page 2 and throughout the book.

Although the book presented the dogma of programming the children’s mind with study hard and get A grade for a safe and secure Job long ago, but still today we have the same concept being transferred from generations to generations. The concept of slavery has killed the confidence that one can get on the Fast Track. It is just one decision and will power of your own that can get you started.

I have learned that how to use emotions of desire and fear as explained on page 21. These are the emotions that can trap you in rat race for eternity. If we use these emotions positively or rather I should say smartly then we can get on Fast Track as soon as possible depending the age bracket we are going through. Controlling your emotions and having patience is what I need to get started.

Key Lesson:

A person may be having a good Job, making good money and efficiently managing my expenses.  A job is never safe and secure. One should start growing his Asset column to an extent that no matter how much my expenses grow. Expense should always remain less then my assets. So the cash flow in my pocket should always be more then the cash flow out.

The statement I just made in above paragraph is only possible when I develop a habit of investing from my current assets at this age. So one should start self grooming on financial knowledge. As good investment is not possible without having sound knowledge of what you are going to do with your money. It is very important to know how money will work in your selected investment.

In order to become an entrepreneur one should start on the Fast Track right away.  Gain enough confidence to invest but we have to learn how to face Chicken littles. As these are the people who claim to be friends be are speed breaker or hurdle of your fast track. So be determined and do not look back to chicken littles as they will always hold you back.

One important concept learned was the concept of giving as described on page 70. I say that is also a part of a smart investment. You need to trap your chicken in order to get its eggs. A person never get information for free in this world. You can always get what you want with smart investment and manage to make more profit out of it.

References

Book “Rich Dad Poor Dad” by Sharon L. Lechter and Robert T. Kiyosaki

2 comments on Book Review : Rich Dad Poor Dad become Entrepreneur

  1. I read Rich Dad Poor Dad, and I must admit that it changed the way I viewed work, investing and Personal Finance. Since then, I have focused more on Investing, and becoming more financially free.

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