Which of the Four ways will you choose to make a Living?
- Naveed Abdul Khader
- Apr 18, 2020
- 6 min read
Updated: Apr 23, 2022
4 ways of Making Money which is never talked about in any Education System.
Go to School, Study Well, Get good grades, so that you get a safe secure Job and settle down well in Life. This seems to be a familiar advise most of us receive from parents.
This is well-intentioned advice, because our forefathers have seen the Agricultural era change to an industrial economy, in which 9-to-5 jobs became the best possible option.
Today the world has changed, Industrial age is over, Yet we continue to pass the same old parental advise and expect our children to go through the Education system to find Success!
I too continue to give the same advice to my 14-year-old son (while sparing my 9-year-old daughter as she is yet to reach the high school).
It may be too much of a risk to change this good old idea, isn't it?
Talk to any new parent especially when it comes to their child's first school experience. They are so excited(as well as anxious), There is so much research that goes in(and confusion) as to which school is the best, which system should we choose? should it be CBSE, ICSE, IGCSE, O Level or IB curriculum etc...
Some of the parents even secretly wished their place had the world-famous Finland school system(No standardized tests, no Home Works, no stress).
On the other hand, there are some parents who would debate that Asian Education System is the best value for money. In this system, the children can have a head start and learn to cram smart. This apparently makes them more competitive, than those educated in the Western System.
Finnish, IB or Asian Education? Which one of them is the best is always debatable. Each of them has its own share of merits and demerits. There are success stories of those who reached the pinnacle of success having studied in their remote village school, and there are also those who came out of Top school, only to lead a mediocre life.
All said and done, I have come to realize that, ‘it is the Journey which is more important than the destination’. The chosen school system doesn't matter as much, it is rather the overall process we go through to complete school life that shapes our primary foundation.
The College/University Level may need some serious changes to keep up with today's times. There is a large supply of student population churning out of the institutions year on year, the pity is that most of them are not equipped with the skills needed to match the available Job opportunities.
Furthermore, we all know there are not as many jobs today as what we had in the past decade. AI and Automation have further dented the regular job market. We are moving away from Job-based economy to a Skill-based economy. The Job market may be limited to highly skilled roles, and the gig jobs may be the norm for the rest of the masses( We are already seeing this with Online food deliveries,on-demand Taxi services, Fiverr and Upwork gigs etc)
Expecting the Education system to change and come in par with the Job market may be easier said than done. The best they can perhaps do is to introduce the courses which are currently the need of the hour. However, The technologies are emerging at such lightning speed that the course in demand at the start of the College may become obsolete by the time 4-year degree course is complete. Thus the employees would be under constant pressure to remain skilled, proficient and relevant in the Workplace.
The option then rests with the individual to equip themselves and remain aware of the path they need to choose. Not everything will be taught by schools and universities. There are many lessons only Life can teach. That would require us to go through the struggles of Life
(School of Hard knocks as some would call it). Hence, It is always best to seek out a Mentor who has walked the path to shorten the learning curve.
Some of the best Lessons and inspirations can come from Books and Blogs. I caught the reading bug a bit too late in life. It was only after my engineering degree did I come to know the world of self-improvement/self-help books. One of the very first books that fascinated me was Robert Kiyosaki's Rich Dad Poor Dad, wherein he talks about the 4 ways of Earning Money and Making a Living.
The ESBI Quadrant he talked about intrigued me. It is a simple visual, but it had so much of an impact on me and many of the like-minded entrepreneurs that I work together today. If you haven't already seen it before, here is the little visual which can perhaps become your light bulb moment.
At the time of my first reading during 1998, it mentioned that 90% of the world's population is on the Left, while the 10% on the Right who actually control the world’s wealth. People on the Left go through a 'go-to-work-come- back-home vicious Life cycle' and continue to trade in time for money. On the other hand, Money works Harder for the people on the Right, whether they are sleeping, travelling or vacationing.
As of today in 2020, the gap is getting even wider, It is somewhere around 97% vs 3%. No wonder the Rich is getting Richer and Poor is getting Poorer. In fact, it is the middle class who is shrinking the most in developed economies. This fact alone should be an eye-opener to re-look at the changes, and the need to take control of one's future.
These lessons were life-changing and opened my mind to the realm of possibilities. I got so immersed in many other Business Books. One of Kiyosaki's other book that got me hooked was "Retire Young Retire Rich", in which he talks about the concept of Retiring by 40. This idea had a profound impact on me, from there on, I set on a path to explore the world of Business and Investing which eventually got me to become Job Free on my 40th Birthday.
These lessons, unfortunately, are not taught in our education system. We have to constantly seek knowledge, and self-learning seems to be the best option. There are so many impactful lessons out there, it becomes all the more interesting when they are in the form of simple visuals - i.e diagrams, graphs, vectors and illustrations. I intend to dive into these topics in the upcoming series, Watch out for my upcoming Blogs for more insights.
Today we are in challenging yet interesting times. As of this writing, COVID-19 Pandemic is taking a toll on the global economy, These are testing times and This too shall pass. This is not the first pandemic the world has seen, hopefully, we will recover and bounce back.
However, the question is how prepared are you as an Individual?
One cannot depend on the Governments or Corporations alone to come out strong.
It is equally important for each of us to open our minds, explore the opportunities, and prepare to become self-sufficient and immune to any future adversities. And If we are wise enough to keep our eyes and ears open, The Future of Work-Life Integration could be brighter than ever before!
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Update: April 2022
It has been exactly two years since I've published this blog.
Fortunately, Covid-19 seems to be under control, although not fully behind us.
The pandemic has indeed got many corporations to reflect and revisit their strategies. They have understood that the old way would not work moving forward. The leading forward-thinking corporations have now started to embrace the Work from Home policy. They have realized that the culture of Work-Life Integration policy would enable them to attract and retain talents and lead to enhanced productivity in their workforce.
Empathy is the prevailing buzzword among several leading corporations who are now willing to tailor their policies for the benefit of their people. As a matter of fact, a four day work week model seems to be the talk of several Corporate HR round tables, and it won't be surprising this model may become the norm to create a happy, balanced and productive workforce.
With all the welcome measures, talented people would be happy to get back to work for corporations and wouldn't mind earning their livelihood within the E - Quadrant. If the work environment is conducive enough and employers offer them a work-life balance, people would be more than willing to pour their blood, sweat and tears into the benefit of corporations. Hence, the new flexible model being adopted would truly lead to a win-win loyal relationship between employees and corporations alike.
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