KNUTSFORD UNIVERSITY COLLEGE
KNUTSFORD BUSINESS SCHOOL

ENTERPRENEURSHIP

BOOK REPORT:
Rich Dad Poor Dad by Robert T. Kayosaki with Sharon L. Lechter, CPA

WRITTEN BY:
Richmond Gyamfi Boateng
(KBS0035)

LECTURER:
MR. ANTHONY ANNAN

MONDAY APRIL 4, 2011

Rich Dad Poor Dad is a book that presents thought provoking teachings on wealth creation and financial independence. The book can be describes as a narrative motivational novel that features four interesting characters, Rich Dad, Poor Dad, Mike and Robert (the author). Poor Dad is a highly educated professor who despite have worked hard over the years barely meets his household expenses. His believe on money was that money is root of all evil. Rich Dad on the flip side was a school …show more content…

He later joined Xerox as a copier sales person where he improved his salesmanship skills. The key morale is this lesson is that, whilst we are employed by someone, our focus should not be on the money but how to improve our management and human relations skills as they would form key components of financial independence.
Chapter eight-New Beginnings
In this chapter, Robert tries to explain why people who financially literate struggle to achieve financial independence. To him, is due to five obstacles which are; 1. Fear. Don’t play it safe and cling to what you think is secure. If you don’t go for it and think big you won’t be able to earn big. 2. Cynicism. Don’t listen to advice of others who are not doing what you intend to do. Listen to yourself and those who are doing what you aim to do. 3. Laziness. Greed is good and fights laziness. Think about the freedom and money you’ll have and you will put in those extra work hours. Change your thinking. Instead of saying “I can’t afford it.” Ask yourself “How can I afford it?” Challenge your mind to create solutions. 4. Bad Habits. Spending habits should turn into saving and investing habits. 5. Arrogance. Don’t think you know everything there is to know about money. Listen to others. Enroll in useful seminars.
In the concluding chapter, Robert presents to readers ten steps to awaken one’s financial genius, these ten steps are; 1. Find a reason greater than