TALENTS & WEALTH

In Africa today many reasons can be adduced why most people live far below their financial potential. One of the most painful reasons is that people neglect to harness their talents – gifts and capabilities! They are sometimes so busy admiring or envying what others have they fail to see that what they have is equally good. Making the best use of your talents is extremely important if you want to be financially successful.

Talent, simply defined refers to those innate abilities that seem to have been inputted in you when you were born. It is a special, natural ability or aptitude for doing something exceptionally well. It was deposited in you by the Creator at birth and is synonymous with gifts, traits and attributes. The good news is that everybody on this earth is gifted and talented in one thing or the other.

Talents manifest themselves in things you love to do. These are the things you do easily, without stress where your abilities are easily expressed or demonstrated. Talents are like flags or signs pointing out where your wealth is lying fallow because it is meant to be exchanged for wealth and fortune. For example someone with a good voice can use his or her voice to produce wealth by waxing records, or producing radio jingles of which he or she can expect to be paid.

MANAGING DEBT LIKE THE WEALTHY

 Debts are not necessarily a bad thing. In fact, just as they say diamonds are a girl’s best friend I am convinced that debts are a rich man’s best friend. This is because every wealthy man has at one time or the other expanded or grown his business empire by leveraging on debt financing. It is virtually impossible to have enough capital to expand business at every level. This is even why banks were established – to provide access to capital to funnel growth.

The truth is that everybody owes and everybody will owe at one time or the other. When you consider that even companies and governments owe then no one is exempted from debt. However there is a marked difference between the rich and the poor’s attitude towards debt. The rich manage their debts while the poor mismanage theirs. Proper management of debts entails:

GBESENOMICS

Gbesenomics is a term I coined from two words, “Gbese” which is the Yoruba word for debt and “economics,” the study pertaining to the production, distribution, and use of income and wealth. Thus gbesenomics can be said to be the science of using debt to produce income and wealth.

I make bold to declare to you today that one cannot become extremely wealthy and successful financially without debt. In all my years of studying the success patterns of billionaires I have discovered that not one was able to invest in substantial business opportunities or to expand their businesses without debt. They are avid students of gbesenomics and have built great fortunes using it.

Sadly those living in poverty and lack, may also be  in debt but they have been unable to harness it to good use in their financial lives. There is a science to it. Here are ten key facts you should know about debt.

Firstly, debt is not a bad thing. What makes debt bad is when you get involved for the wrong reasons. For instance getting into debt to buy clothing for family events and investing in other frivolities is wrong. However there is nothing bad about getting into debt to purchase an asset that will yield more for you or appreciate, such as land. The major issue is what you are investing in. In fact debt is the rich man’s best friend for he uses it to attain his goals.

THINK WEALTH, THINK PROBLEM SOLVING

In Africa we have been indoctrinated to believe that problems are a bad thing. We all want to live a life whereby problems do not have proximity to us. We desire a state of utopia where everything is perfect  from start to finish in our lives. Unfortunately this state exists only in movies and literature. Life is made up of challenges which when surmounted add colour to one’s existence. Life would become shallow and uninspiring without problems to face.

Now problems are opportunities for you to take the bull by the horns and create wealth. Look for a problem to solve and not one to complain and fret about. Financial success belongs to the problem solver. You are guaranteed wealth if you can solve problems for the greatest amount of people.

Problems abound. In every sphere and strata of life problems continue to be created. It is almost as if the minute one is solved several others pop up to replace it. Sometimes even a solved problem gives rise to another myriad set of problems that also need solutions. it seems the Creator of the earth established this cycle of unending problems that need solving so mankind could continue to improve upon his environment.

Problems are an integral part of man’s existence. Every one of us will be known for the problems we created and the ones we solved. The onus is on us to intensify efforts into solving the problems of as many people as possible and through this route riches and wealth is guaranteed. Stop wishing for problems to just disappear, instead engage your mental faculties and come up with solutions.

AUDITING YOUR PERSONAL EXPENSES

Auditing, the process of inspecting, evaluating and verifying an organisation’s financial accounts is undertaken every accounting period to ascertain its financial standing.  At the end of this exercise a company’s true financial performance can be derived. The importance of auditing cannot be over emphasized because performance is used as a yardstick to measure whether the company is on track or not. No wonder the laws of most countries stipulate that organisations must be audited.

The benefits of auditing include getting a true picture of the financial status of the company, it ensures that the company sticks to what was agreed. The audit is also a kind of report card showcasing the management team’s astuteness and achievements in piloting the affairs of the company. It enables stakeholders like the government, shareholders, investors and partners to act when there are deviations from the expected norm.

It is imperative that the process of auditing be extended to your personal finances. This is because there are many similarities between organisations and individuals; both utilize financial resources and base their performance on the profitability or otherwise of their actions. Both also have similar desires to succeed or progress in their chosen fields of endeavor.

BATTLE IT OUT WITH POVERTY!

People who lived in the continent of Europe in the 1700s and prior to that had a vicious way of settling disputes whenever there were disagreements between parties on many issues, trivial or otherwise. The offended party would challenge the other to a duel, a pre-arranged combat using deadly weapons, such as swords or pistols based on an accepted code which could be the death of the loser without any repercussions to the winner. This method was popular for settling disputes among gentlemen.

In the 21^st century we must recourse back to dueling to combat and mortally finish off an enemy that all of us should detest totally. This enemy continues to assault and insult many of us like he did to our forebears who did little or nothing to eliminate it. That enemy is poverty.

FIFTY THOUSAND MILLIONAIRES BY 2025!

 Can our societies exist in the kind of utopia that makes it possible for everyone to be millionaires? Leaders in African societies are good at making promises of better life using slogans like Housing for All, Education for All, Prosperity for All by a certain date that I thought I should coin my own – Developing Fifty thousand Millionaires by 2025.

It is practically impossible for everyone to become millionaires in a society. It is however possible for a country like Nigeria to be able to nurture and groom an additional fifty thousand millionaires by 2025! Nurturing and grooming means the input and impetus of the government has to be felt  in making this goal possible.

Now government exists to provide it’s citizens with the enabling environment in order for them to grow wealth. Government is not an avenue to wealth, rather it is an enabler when it gives the people all the support, encouragement and tools that they need to be wealthy. This tends to benefit them in the long run because more jobs would be created, more taxes will be paid, there will be less crime amongst other things which leads to a better quality of life for Nigerians. Fifty thousand new millionaires can be achieved if we do the following:

FINANCIAL EXPECTATIONS

 Legend has it that nearly five thousand years ago a weary traveller met Bansir, a wise old man at the outskirts of Babylon. He said to him, ‘Sir, I have heard that the people of this city are unfriendly, wicked and inhospitable to strangers.” The old man replied, ‘That is correct. These are the kind of people you will meet here.’ The traveller continued on his journey.

Several hours later another traveller met Bansirat the same spot. He also enquired from him, ‘Old man, I am new to this city and I have heard that the people are caring and compassionate towards strangers.’ The wise old man replied, “Yes you are correct. These are the people you will meet here.”

Now Bansir’s response to both travellers was correct because this story highlights an extremely important aspect in our race to wealth and success, which is expectation. In the above story each person had a different expectation about Babylon’s citizens, and what they expected was definitely their experience…

MASTERING THE ART OF SPENDING MONEY

Money is the most sought after commodity in the world today. Everyone needs it for what they can exchange it for – be it goods, services, needs, wants or ideas. We live in an inter-dependent world where we rely on one other to provide what we cannot produce by ourselves. We therefore need to spend money by giving it in exchange for what we want.

Spending is an area where most people come up short on the road to wealth and fortune. They fail to understand that there is an art to it. The rich spend and still have plenty leftover, while the poor spend and have nothing left. Those who have mastered the art of spending normally base their spending decisions on one or more of the guidelines below:

Firstly most people believe money is meant to be spent. Rather money is meant to be multiplied. Those who have mastered the art of spending disburse a major chunk of their money on things that can be multiplied into more wealth while most others spend on what can’t produce further hence they lack as a result.

Those who have mastered the art of spending expend money on their needs, not wants. Needs are those things you cannot do without while wants are the opposite. They constantly ask themselves – Do I need it? Do I want it? Then they act to spend on what they need. This frees up funds that could have been frittered away on wants that could be diverted to better uses.

RESEARCH ON BUT DON’T RESENT THE RICH

The rich and financially successful are worthy of emulation. The very few who have been able to acquire wealth through dint of inspiration and perspiration have worthy experiences and tales that could be extremely useful to those who intend to become like them.

Unfortunately those who are not wealthy do not seem to want to emulate the rich. They tend to be envious and detest the successes and progress that the rich have made. Granted the rich can be obnoxious, lousy and extremely arrogant, but this does not change the fact that they are successful. Those desiring to replicate their success would do well to focus on the tips,strategies and skills deployed to produce success, instead of on their inadequacies.

LESSONS LEARNED: ULI HOENESS

-          Uli Hoeness was a former footballer and became President of German Football Powerhouse Bayern Munich after his career ended

-          His tenure  as President was characterized as the most successful in the Club’s history with the club winning many German league titles and the UEFA Champions League

-          The club’s financial profits stood at over 400 Million Euros during the last financial year

-          Uli was truly a role model for charity and generosity, often helping former players and other German league teams undergoing rough times. Due to his “achievements” in turning Bayern’s fortunes around many politicians sought to get close and identify with him. He thus became very influential

PRACTICAL TIPS TO FREE YOUR MONEY FOR SAVINGS & INVESTMENT

“ I can barely survive on what I earn,” “I have no money to save or invest,” are two of the most common excuses people make when it comes to building wealth. They earn so little compared to their expenses that before the month ends they are already broke and in debt, with the cycle going on and on....

However all hope is not lost. I want you to know that no matter your income you can free up some money that can be put to use working for you. Consider these ten tips:

Cut spending on internet subscription plans on your smartphones or at least one of them if you are only using it for chatting or social purposes. Switch on this capability when you are in a free wifi location like the office.

Review your Cable TV subscription. Now is not the time to be spending on the premium bouquet if you are a man. You can subscribe instead to the lower bouquet, which show key matches/highlights later. Going for a lower bouquet could fetch a whopping N100,000 in savings in a year.

2015 – Beyond doom & gloom lie possibilities & opportunities

I am glad to announce to you that 2015 is not a peculiar year, not by any standards. In 2015 many economic analysts have predicted chaos, doom and gloom with regards to the challenges facing Africa and the rest of the world. Terrorism threats, wars, falling oil prices, economic crisis, job losses are all signs that the citizens of many countries are in for hard times.

The good news is that whatever the experts predicted for this year was not so much different from what was predicted last year, or the year before. The experts tend to approach every New Year with cautious optimism because they cannot be a hundred percent certain how it would play out. The reason 2015 is not peculiar is because many fortunes will be made and lost this year, just like in previous years. You can choose whether to be on the winning or the losing side.

MOVING FROM RAGS TO RICHES!

 Everyone loves a good “rags to riches” story. There’s nothing better than to hear that someone who was languishing in extreme poverty had the good fortune to turn things around by creating wealth. Deep down in many hearts we love these stories because we also yearn for the day our own rags to riches life story becomes reality. We wish we were the ones who made the transition.

Yearnings and wishing tends to give us the notion that these rags to riches stories happen suddenly, literally overnight. You lie down a pauper and wake up a billionaire! No one has the distinction of becoming wealthy this way! This is because between rags and riches are several doors you need to unlock. You will require several keys…..

FINANCIAL AFFIRMATIONS FOR 2015!

Words matter. Words are powerful. They seem to attract a powerful force that ensures that what is said ends up happening and occurring around you. Words used constructively and creatively literally changes situations and turns lives around.

In 2015 you cannot afford not to harness the power of words in your finances as you intend to grow wealth. I am very sure you have set new goals; but have you considered harnessing the power of words by confessing and affirming your goals will help you achieve them more certainly? This is because you eventually become what you say.

My charge to you today is to use affirmations as part of your strategy to create wealth in 2015. This might be one of the reasons results have not been forthcoming in your journey to wealth and riches. You desire wealth but you speak lack, poverty and want most times. Here are some affirmations you should commit to declaring everyday of your life in 2015...

I am wealthy, I am rich and I am successful. I receive wealth generating ideas that I can convert to money in the marketplace. I receive wisdom, insight and knowledge in order to be able to run with these ideas and see them to a successful fruition.

In 2015 I am favoured and preferred and I attract the right people, helpers who will assist and support me in the achievement of my financial goals. I am surrounded by people who want to do me good financially.

I begin to progress and make strides forward financially. My earnings begin to grow and multiply into thousands and millions. I receive a renewed mindset to put my money to work and avoid the pitfalls of wasting money by spending everything I earn on fruitless pursuits.

My blossoming bank balance and wealth position will not cause me to jettison and sacrifice current relationships that I hold dear. My positive ethos, creed and values will remain the same notwithstanding my financial position.

I distance myself from every greedy and hoarding mindset and mentality as I commit myself to using part of my wealth to helping others. As I grow financially I do everything I can to also help others to grow financially.

I recognise money as a tool meant to be multiplied and under my control. I am master over money, money is not my master. Money or the lack of it does not determine my emotions, moods and feelings.

My strategy for wealth creation is not to hustle. I do not hustle; rather I identify needs and actively seek for ways to meet them. I am not desperate, looking for money by all means. Rather I am content with what I have and put it to good use to gain more.

2015 comes with its peculiar challenges and may portend gloom and doom for many but I am exempted. I will walk in plenty and more than enough this year. I will not borrow to meet my bills and living expenses. I meet all my financial obligations with adequate resources as they fall due.

2015 will be my best year ever financially.

Take these affirmations and run with them consistently and constantly in 2015. Ensure you take them and affirm them at least twice daily, just like good medicine. For just as tablets taken improve your health, affirmations will improve your finances.

I am looking forward to toasting to your new found financial success in 2015!

INVESTING BASICS

Investing is perhaps one of the most important words in the lexicon of the wealthy. This is because investing represents the process or activities whereby the rich deploy their financial resources to produces significant returns for them. Their resources are gainfully engaged-in many diverse productive ventures that amass wealth in the long run.

I have discovered that everyone wants to invest some portion of their resources productively; they just do not know how to. I meet people who tell me that they have some funds kept aside, or they can access a loan facility but they do not know what to do with it. They seem to be more on the lookout for whom to entrust with the responsibility of making their money grow while they relax. You cannot grow wealthy by leaving all your investment decisions to others to make for you. It is in your best interest to have a firm grasp on investing; it is your capital after all.

The basic guide to investing comprises of the following rules: