Showkat Badat is the Director of Academic Development, Learning Strategy and Professional Development at Oshwal Academy.
My biggest lesson on making money: How you make money is far more important than the actual amount. I really believe that creating and running a business provides an important ability to distribute wealth and to make a much better world. I have also learned that investing in people is as important, if not more, than infrastructure, plant and materials; it’s the value add that you get from engaged employees that makes all the difference to business success.
Approach to wealth: I tend to believe that wealth is hard earned; it takes time to build. Subsequently, wealth resources should not be consumed for the sake of it. Wealth creation is just the starting point. In the same vein, collecting money for the sake of it does not make the world richer. You should remember too that in every creation of wealth, the possibility of losing money is real. However, I have learned not to panic over losing money. It’s just a passing phase.
Wealth Creation Awareness: From my experience in managing academics, I find it unfortunate that our general education system is not enlightening enough on wealth creation and maintenance. There has to be the skills to ensure a sustainability of one’s endeavours.
Going back to school to earn more: I find it deeply strange that when people study to higher levels, which always involves narrowing the field of study, they are rewarded more. I feel it skews the general employment policy. Take school salaries for instance; the least paid teachers are the ones who deal with the most excited minds. The best will not always have higher academic qualifications but they’ll always have life experiences. Nonetheless, knowledge and the ability to think and make knowledge as capital is a true asset to be traded.
Venturing into school business: There is more to starting and running a school than just the money making-aspect. Always remember why you are starting a school. If you are doing it simply to grow the size of your bank balance, then perhaps you should move on to something else.
