Skip to main content

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

Post a Comment

Popular posts from this blog

HUNGER VIRUS

Hunger is a craving desire and urgent need for food, an uneasy sensation occasioned normally by the absence of food and resulting from the stimulation of the sensory nerves of the stomach by the contraction and churning movement of the empty stomach. Hunger has a devastating sign of gurgling, rumbling or growling in the stomach. Poverty is the major cause of hunger in the world. It might interest you to know that 2 of every 10 people in the world suffers from chronic hunger globally. About 18 percent of the world's population(815 million) could not get enough food for healthy living in 2016. UN has also estimated that 400,000 Syrians are trapped in besieged locations without access to medical treatment and food, it has also been estimated that there are about 795 million under nourished people in the world today. Hunger is a global problem and number one risk to health worldwide.       Hunger is a virus because it also has the ability to take away once life. Just as ...
7 comments
Read more

THE POWER OF SETTING DEADLINES

     A deadline is a date on or before which something must be completed, it is the time frame to which we have set to accomplish a certain task. Deadline is a mechanism that triggers the mind to complete a task quickly. It is possible to accomplish a task without using the tool deadline, but it is more easier and wiser to use deadlines because it triggers us into a state of urgency, the state where we don't have time to think about excuses, a state where the only option is to actually complete a task, when we set deadlines we create a burden on our heart that a task must be completed within a period of time.       Deadlines directly impact your time therefore, they force you to organize your task in order of priority, so that you are only working on objectives that moves you closer to what you want to accomplish, you have to learn how to focus on your key milestones. Another good thing is that setting a deadline motivates one to think out of the box i...
5 comments
Read more

MASTERING THE ART OF BUSINESS PART 2(TYPES OF INCOME)

     In the world of business, hardwork is required provided prayer is kept constant. Mogul's don't work for money, they have their money working for them. The secret is they use money to make more money. Like Aliko Dangote once said in a conversation with Aljazeera in 2016. He said; “we in dangote group are not doing like other Africans who keep most of their money in the bank, we fully reinvest whatever we get and keep on investing”. That's a secreat many people have failed to realize, that's why its preferable to start a business as a bachelor where there are no much responsibilities.      There are three category of income received which are;  *Earned income * Passive income  *Portfolio income When you go to school to get a good grade and find a safe secure job, you are working for an earned income. That means earned income are incomes received from jobs in an organization or from the government.  Passive income is a kind of income you ge...
2 comments
Read more