Written by Paschal Agonsi. August 10, 2022
Poverty, illiteracy and ignorance are perhaps the only 3 things more dangerous than greed.
Poverty is no alien in today’s world with billions of people living in extreme conditions.
A better world today can start with you becoming more financially intelligent and responsible.
A wealthier you is a better world for your family and community.
Here’s 8 ways to get started!
1. Stop chasing money.
Building wealth is a marathon not a sprint. Growing wealth is like fitness. You need to change your diet and workout everyday.
Don’t chase money. Make it come to you. How?
Discover your skillset, pick an industry that fits, offer a unique service, and outwork everybody.
2. Every problem is a business opportunity.
Don’t run away from problems. Opportunity is often disguised as difficulty. The obstacle is the way. As Marcus Aurelius puts it, “the impediment to any action becomes the necessary action. What stands in the way, becomes the way.”
3. Financial education
Almost never taught in schools, this is the only way to escape slavery and poverty. The first step to financial literacy is to adopt the habit of saving. There cannot be any wealth growth or management without it.
No matter your income level, learn to save at least 10% of your income for investment purposes only.
4. It’s all about mentality.
Focus more on investing than spending to buy stuff and pay bills. Rich people invest and save before they spend. Poor people spend and save what’s left, if any.
Rich people have the habit of searching for opportunities to invest while poor people look to buy more stuff and pay more bills.
Smart tip: It is more important to buy Nike stock than to buy their products. One increases your wealth and the other depreciates in value.
5. Watch your circle.
The ability to remove toxic people from your circle, people who drain you of your time, energy and patience, is the secret to success. If you hang around with positive thinking people who are better than you, you will become better.
6. Relationships matter.
Without relationships, there’s no success in life or business. A research study showed that 85% of your success is dependent on how well you manage people, and only 15% based on how good your product/service is.
7. Service, People and Principles comes first.
Service is more important than success. People are more important than possessions. Principles are more important than power.
8. Be Productive.
Money doesn’t make you rich, productivity makes you rich. Your ability to reproduce your product leads to your success. What you cannot multiply, you cannot succeed in it.
In conclusion, always remember success is not about gathering knowledge but about taking massive action daily.