MACHINE, MEN AND MANAGEMENT AS REGARDS TO WEALTH CREATION

With regards to the machine you should know something about Terotechnology- that is the “life-cycle” costing. Terotechnology is the name given to a method of controlling and evaluating the overall capital cost plus maintenance cost of equipment. It covers-design and specification cost, procurement cost, installation cost, operation cost and maintenance cost; then constantly find out the machine that will give you optimum result at minimum cost and minimum maintenance/overhead expenses.
Material can be looked at from two extremes- that is the raw material and the finished good material/stock. It is the raw material that converts to finished goods stock (materials). You have to ensure that the money expended on the material is justified and that the cost of conversion to finished goods (material) is reasonable. Above all, the quality of the product as perceived by the customers is right so that the market can accept the product with ease.
You saved some money to work for you. You acquired machines and materials, with the money you need to hire MEN (labor) to also work for you.
If the MEN (labor) do not fit into your vision, it will mean that a pin is being introduced into an inflated balloon of riches in your palm. There is no sentiment about it, your MEN must be right and in the right places. The right quantity and quality of MEN must fit into your establishment if you must be rich.
You, the proprietor/Managing Director are the coach of this business like the coach of a football match. If there is any weakness in the goal keeping or in the defenders, or in the midfielders, or in the attackers and the coach refuses to act promptly, the result of such a match may not be good enough. It is like this; in the home video industry, the characters must be right and in the right places otherwise, the film will not be of interest. If you need people to play the role of a school boy, an old woman, a pastor, a high priest, a criminal and so on, you must go for the people who can really play the parts successfully to make a complete and interesting film. In the same way, in your bid to be rich ensure that your business is made up of the right quantity and quality of men to realize your vision.
Management can make or mare all your efforts to be rich. If the management is not right, then all your efforts will be brought to naught. Money, market, machine, material, men and management are like a collection of sharp pins inflated into a balloon of riches placed on your palm; if per chance one of the pins is not in the right place and finds its way out of the collective vision and goals of the business, the whole balloon will go flat on your palm. So watch it and seek financial expert advice if necessary. Good luck!

MARKET

Consider your specialized skills before starting any business. Knowing your market will help you develop a good product or service for a specific audience.
You may ask- how do I know my market? It is your skills that determine a market in this context. Let’s look at it this way. If you have management skill, you should be able to go into business like management consulting, business advice, executive recruiting, publishing, advertising, and your clients will include government, organization, and corporate bodies. If your skill is geared towards intellectual activities, your business will include public and private tutor, financial adviser, book store owner, advertising agency owner, art gallery owner, and your job will include magazine or book editor, newspaper editor, publisher, copy writer. If your skill is getting along with people, your business will include- restaurant, dance studio, agent for actors, employment agency, manufacturers representative and your job will include public relation, personal management, sales agent. If your skill is salesmanship, your business will include selling a line of your own or others products, sales agency for products, and your job will include sales manager, training of salesmen, and sale of products.
Identify your skill and determine your business/job. You should know the following about your market.

i. The main needs of your market.
ii. The product features most appealing to the market.
iii. The buying habit of the market.
iv. The size of the market.
v. The location of the market.
vi. The price range the market will accept.
vii. Your competitors and your advantage over them.

The market of your products or service is all the people who have the money and authority to buy such product or service and also have desire for the product or service.
You can start small; grow big, if you use these techniques. Put them to use everyday of the month. Therefore, begin today to market your skill.

• Know your market from A-Z
• Propel your profitable ideas into riches
• Watch your pricing methods, -the value of the product or service; the cost of the product and your competitors price.
• Do some price speculations and take advantage of price fluctuation.
• Always bring a lot of innovation into your marketing strategies.

MONEY

Money as something which facilitates transactions has various meanings depending on which concept it is used. In our situation about empowering our financial statues, money may be defined as that natural seed that controls your financial destiny. Until your seed dies, it will not grow. John 12:24 “Except a grain of wheat falls to the ground and dies, it abides alone, but if it dies, it brings forth much fruit”. Wealth like a tree grows from a tiny seed. The first money you saved is the seed from which your tree of wealth shall grow and the money it earns is its child that also can earn for you. Money is neither moral nor immoral; it is amoral-neutral. Money is in the place where people are. For instance- money is in places where people live, play, eat, drink and so on.

One can find the road to wealth when he/she decides that part of all he earns is to keep and make it slave to work for him. This is actually the first step to financial freedom. My friend what have to show for your earnings of the past years of work? If you did keep for yourself some fraction- say one-tenth of all you earn, how much would you have had in ten years?

The sooner you plant that financial seed, the sooner shall the tree grow and the more you faithfully nourish and water that financial tree with gradual but consistent savings, the sooner will you hide in contentment under its protective shade.

First, you learn to live upon the little you earn, and then seek advice from financial experts who are competent through their own experience; then save from your earnings and make your savings work for you. And remember, wealth grows in magical ways. No one can prophesy the rate of growth, so lay that portion first- that part of what you earn that is for you to keep.

HARD WORK WITH DETERMINATION

Working hard, vision with prayer makes the difference in ones life and could transform or project you to be the greatest icon one could ever imagine. Many people have actually worked extremely hard and prayed but their situations remain stagnant. What could be the cause of this outcome? Working hard without direction is useless. Most people have lived all their life trying to get the best the world can offer through hard work but they have nothing tangible to show for it. When you have vision and actually know your direction. I mean where you are heading to and where you are coming from; nothing will ever snatched those dreams or whatever you have at heart to do. Just imagine someone who easily goes after selling newspapers on the street when his initial interest was in estate management or something else. He sold his dreams so easily! That is what is meant by vision with direction. When you have the direction in your heart, nothing will ever make you to dive to the left or right because of circumstances. This implies that we have to live a life of focus and determination. Knowing what is good for you at any point in time.

A rich man can become poor provided certain parameters are not guided properly and vise versa. Despite the difficulties of life, all of us are endowed with three types of assets, that is Time, Talent and Treasure. Everybody is provided with 24 hours in each day to embrace and utilize these assets. The parameters are:

                Money

                Market

                Machine

                Men and

                Management.

These parameters guide the path of both the rich and the poor. As earlier mentioned, one is only poor or rich pending on how these parameters are utilized. The result of which is your financial statues. For a full of knowledge of these, we consider treating each as a separate entity. Wait for the next post on money.

FINANCIAL THOUGHTS

·        One major area one can be very rich is entrepreneurship. You have to buy less than you can sell.

·        Be ready to add value to people’s life in whatever field you are.

·        Success is more of perspiration rather than inspiration and there is no prize without a price.

·        God grants desires not wishes, you need to have strong desires and hunger for success.

·        People must concentrate on what generate income and not things that will waste your time and energy, and no good will comes out of it.

·        Some work for money others make money work for them.

·        Develop confidence in your skill and use it to ensure financial breakthrough.

·        Any activities in your discipline that does not bring money, take it as a hobby.

·        Be ready and willing to solve problems. The level of problems you solve determines the level of your riches.

·        Make up your mind that you too will be rich and so you will be.

·        My friend, everything you need is around you but they are in wrong places. All you need to do is to move each one to its right place.

·        A dynamic life is always fired by vision, if you can imagine it, you can achieve it, if you dream it, you can become it, and vision sees the invisible, believes the incredible and realizes the impossible. Without vision, you are just playing games with your life. Men with vision have empires in their brains. Most of us have vast potential which have never being developed because will to recognize it.

·        The tragedy of life is not that a man dies but what dies inside a man while he lives.

·        Don’t waist your time on an unimportant thing, invest your time where it pays most. Have deadline for accomplishment of project. A goal without a deadline is not a goal but a mere wish.

·        Make a list of actions you must take to achieve your goal.

·        For instance, the cash required, extra effort needed, more research and development and always remember no gain without pain.

·        The fulfillment of our goals must be good to others. If they bring harm to others, then our goals are selfish and unfair.

·        The difference between the goal-getter and the dreamer is adding a deadline to the dream.

·        The great reward in life are achievement and love otherwise, it is secondary.

·        The secret of happiness is not in doing what one likes but in liking what one has to do.

·        It is not your position that makes you happy or unhappy but your disposition.

·        Learn how to count your blessing and not your burden.

·        Are you willing and ready to create wealth?

·        If you are willing and ready then our first point of call is how to have the initial capital to start the wealth creation.

WEALTH CREATION

I am weary, worried, and disturbed of being without money in the mist of plenty. Poverty is my enemy. About me is much display of wealth, but of it, I have almost naught. It appears few people know how to acquire wealth and therefore monopolize it. Perhaps, money is reserved for those who know its laws and abide by them.

Some people think money is evil and will spoil us, others believe that money will make us spiritually cold and pursue things of earth instead of things of Heaven.

No! Not at all!! This is not true; it is the love of money that may separate us from God and the lack of money make us spiritually cold. A person can be very rich and use part of his riches for the extension of God’s kingdom- the spread of the gospel.

It is like this- There are two friends of mine, one is very rich and the other poor. Whenever I visit the rich man, he never mentioned anything about his cars or wealth. He talks about God and his goodness, faithfulness, mercy and blessing; whereas whenever I visit the poor man, he talks about his old car, the breakdown and the expenses associated with it. He thinks about how to cut corners to meet these expenses.

Then I thought within me, if only this my poor friend knows how to praise God and give thanks to God instead of complaining and blaming God for his poverty; he should begin to imagine his needs being supplied by God who is able. He should learn to trust God and allow God to supply all his needs.

Jesus said in Gospel according to Matthew 21:22, “If you believe, you will receive whatever you ask for in prayer”. Also Mark 11:22-23 Jesus said, “Have faith in God; I assure you that whoever tells this hill to get up and throw itself in the sea and does not doubt in his heart, but believes that what he says will happen, it will be done for him”.

In this concept, our hill is poverty in our life. It is true that everything begins from the heart, the journey from poverty to riches and from financial backwardness to prosperity is an internal trip, once you move inside; the outside will be compelled to move.

The way you think has a direct bearing on your level of poverty and riches. Your thinking pattern must be geared towards good things. Show me any good business that was not once a dream in someone’s mind; the dreams of today are the realities of tomorrow.

Dare God and have a vision in your heart and dream the dreams of prosperity.

Take practical approach to wealth creation, everything comes from the heart.

Watch your thoughts; they become your words,

Watch your words, they become actions,

Watch your actions, they become habits,

Watch your habits, they become character.

Watch your character, it becomes your destiny. I have found that one thing keep someone perpetually poor, that is believing that you keep on doing what you have been doing for years over and over and get different result. False hope.

We can not continue to do the same type of business for years using the same method, the same principle without any innovation and expect different result. Are you really interested in wealth creation? Do you want to cross over from your shackle of poverty to financial buoyancy? Are you willing to be rich? Do you believe you can be rich?

Dream yourself to a new level, and think about your past life. Did most of your dreams come through? Did you achieve what you set for yourself a year ago? Did you go to the school you wanted to attend or learn the trade you wanted to do? Did you get the job you wanted? Did you marry the man or woman you wanted? Have you been able to guide your inner mind and achieve what you want to achieve till the present date? For the recent past years, have you being able to arrange your finances and have robust savings? If you didn’t, then, you need to do something to reverse your poor financial position.

Your financial breakthrough is proportional to the nature of work you do to make money. For instance, a pepper seller is a small market whose total turnover in a month is not more than ten thousand dollars should not expect to make a million dollar profit within twelve months, whereas, the big merchant whose turnover is well over one hundred million dollar a month should not expect to have the level of profit as low as the pepper seller. The penalty for high risk is probably loss and the reward of high risk is huge returns associated with such calculated risk.

The Key Forces

If you are financially blessed and economically empowered, the joy it radiates and it accompanying feelings of satisfaction are reflected in yourself, your immediate family, in your community, in your nation and the world at large.

So prosperity of a nation depends upon the prosperity of people that make up the nation.

Being financially empowered or free from poverty involves knowing what to do and when to do it right. But the question is- what is poverty? In short and brief words, poverty refers to ones financial statues when he/she can not meet up with his basic needs. When you have the burning desire to own a car, pay your house rent and all of this and they can not come to accomplishment, then you are financially broke.

Wait a minute, is this all about poverty? No! It’s always good to evaluate both sides so that when one is financially elevated, he can maintain the balance. Many hurriedly get rich but find it very difficult to maintain that stand for some time. This could either be because they never applied the right principles or their extravagant behavior.

In life, focus, determination and desire are the driving forces of all our wants. Be it on the internet or in our daily transactions with people around you, if you can't focus to achieve whatever you want, then you are an obstacle to others. Those who share the same interest with you will certainly not be happy seeing a high market trend thinking that this is profitable when you are a hindrance to them. On the long run, you have succeeded in wasting their time, resources and strength.

Determination my dear! If you have it in mind that you can achieve this or that no matter the circumstances surrounding it, you will surely do it. This is what determination is all about. When you pick up a task and along the way you start entertaining some fears about failure or success that is where you go wrong. Hold it firm on success and it shall surely come to fulfillment.

Focus, determination are those things that materialize desire. Without them, your desire will still remain a desire or forever a desire if you are not willing to do something tangible.

It’s time to do some actions. Put all these pieces of ideas into action and await its result. I promise you its going to be superb. Ride on!!