Page 11 - MERGED FILES MARCH APRIL 2021 EDITION 67_Neat
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Mar - April, 2021 Page 11
What do you think increases How can kids
your chances of wealth? learn entrepre-
-neurship skills?
Continued from pg 10
really is the last resort. your emotions is one of the most
“Dad, I want to make money. Can
· Take calculated underrated aspects of wealth I work for you?” My 10 year old
risks. It is silly to take creation. Most people go from boy asked me. “We don't work
r i s k s w h i c h a r e one extreme to the other - greed, for money son. You must come up
reckless, but taking fear and greed again. Look at with a creative idea to make
calculated risks makes 2008. People were bullish and money through a business.” “Oh,
s e n s e . T h i s i s taking huge risks in business and let me think,” he paused for a
moment and said, “I have an idea!
especially the case investing (real estate in
I could mow the lawn for the
when somebody is particular) before the crisis and neighbors!”
young but it can then got scared. “That's not a business son!”
always be important. 2020 is another great example. “Well, I could wash cars or walk
Of course, the specific People started the year in a their dogs over the weekends!”
“You're still exchanging time for
calculated risks you bullish way. Markets hit record money son! That's NOT a
take will depend on highs even as coronavirus was
your skills, industry hitting China, Korea and Iran.
and personality. The Markets crashed and people were
point is, a high terrified about the US Election
percentage of the more recently.
self-made people Now markets are back to records
who have succeeded in most developed countries. If
have taken some big you can stay stoic, and keep to a business. I want you to come up
calculated risks. These plan in business and investing with a business idea!” “I don't
include emigrating, and only adjust if the facts clearly understand dad!” “I don't want
starting businesses have changed, that gives you a you to exchange time for money.
Think how to solve this!”
and being paid on great advantage. Three days later…
Adam Fayed
results and not time. “Dad, dad! I have an idea, what if I
plant some vegetables in our
Also, the ability to control backyard, grow them and sell
them!” “Now, THAT sounds more
like a business son! Can you tell
Do you need a me the difference? How many
hours will you invest to keeping up
Business Plan? with your plants?” I asked.
“I need to water the plants every
day after school.” “What else?”
Call “Watch out for bugs eating my
veggies?” “Correct! How much
020 8131656 time will you invest doing that?”
“Well, dad… nothing, maybe
minutes!” “So what is the
difference between your veggie
Continue on pg 12
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