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MASTERING THE ART OF BUSINESS(ASSETS & LIABILITIES)

     I am concerned that too many people are focused too much on money and not their greatest wealth, which is their education. Intelligence solves problems and produces money, money without financial  intelligence is money soon gone. Many people have failed to realize that in life, it's not how much money you make, its how much money you keep and how many generations you keep it for. Take for instance men like; Bill, Dangote,  Jack etc. This guys have acquired wealth in billions over decades which would be enough to feed their entire generation. 
     So if you ask me, “where do I get started?” or “how do I get started?” I would profer you earn financial literacy first. I mean stuffs like “what is money?” and “how does money works” only then can you have a lasting financial freedom. 
     In mastering the art of business, you must know the difference between an asset and a liability. Let me start by saying most people struggle financially because they do not know the difference between an asset and a liability. In a simple defination, an asset is anything that brings money to your pocket while, a liability is anything that takes money away from your pocket. 
     To gain freedom from financial struggles and gain strength in the business world,  you need to spend your life buying assets. A commodity can serve as an asset and serve as a liability depending on the way you use it. For example, a House. As a landlord, a house is an asset. As a tenant, a house is a liability. As an aspiring  entrepreneur,  you have to think of what you can buy and start using that would generate income to your pocket. Liabilities are necessary but, you need to try and make the rate at which  you acquire assets greater than the rate at which you acquire liabilities. Only then can you be a mogul in the business industry. So from all this, we can say; The poor will always remain poor because they spend all their income buying liabilities while the rich will always remain rich because they spend their income buying more assets.
     Students leave school without financial skills, millions of educated people pursue their profession successfully, but later find themselves struggling financially. What they lack is not how to make money, but how to spend money, what to do next after you have made the money. Never be scared of investing, you just have to start from somewhere. Aliko Dangote started business in 1973, look at where he his today. Bill Gates also started business in 1974, look at where he his today. Jeff Bezos started business in 1995, look at where he his today. Success in business doesn't come instantly, its a very slow process while hardwork is constant.

IN CONCLUSION - Robert Kiyosaki said;
The actual defination of rich is in the eye of the beholder. You can never be too rich. Just remember this simple observation;
* The rich buy assets. 
* The poor only have expenses. 
* The middle class buy liabilities they think are assets.

Comments

  1. Welcome To Shalom Ajoge's BlogJune 11, 2020 at 11:37 PM

    Hello 👋, if you have a question, please drop it in the comment box here and together we would answer them. Thank you

    ReplyDelete
  2. President SanJune 12, 2020 at 8:44 AM

    Insightful and inspiring

    ReplyDelete

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