30/06/2020
IT’s all about cashflow! Think Cashflow, think wealth
‘Making money’ ‘online money making’ and similar keywords are one of the most searched topics on trends.google.com. Since the time immemorial, even until the end of the world, mankind will always be interested in how to make money. Unfortunately, while some make money easily and abundantly, majority live and wallow in abject poverty.
One thing that is certain is that ‘money gravitates towards value’. As defined in elementary economics, ‘money is a means of exchange for value’. Therefore, the more value you have, and able to commercialise, the more money you are able to make. Please note that ‘It is not just the value you have, it is the value you are able to commercialise’.
Many at times, the reason people say they so not have money or have no job is simply because they do not have sufficient ‘value’ to offer to the society. All over the world, Nigeria inclusive, there are myriads of opportunities that are turning people to millionaires today. Like my mentor would say ‘Nobody has problem of money, they only have problem of idea-a problem of valuable idea’.
Is it not horrendous seeing very intelligent, highly intellectual individuals getting confused in the world of money making while the supposed illiterate are making it big in the world of wealth creation? What does that tell you? You need more than just paper qualification and formal education to build business and create wealth.
You see, the whole thing starts from your mind. The potency of your mind-set determines your attitude to wealth creation.
Today, I know of one single business you can start and begin to make money immediately. This is not a get-rich-quick scheme. It’s a business that requires commitment, dedication and passion. When you build it over time, it becomes a source of lifetime wealth for you through residual and passive income. This does not require any certificate or experience. It requires the right mind-set. Get the mind-set right, then the skill sets will fall into places. I am a living witness of same and I have taught many the same principles. It works like magic!
You cannot tell me you do not have money when opportunities stare you in the face. You cannot convince me you are broke when money is everywhere around you. Honestly, you do not need money, you only need your eyes to be opened to the opportunities around you. Lucky you, I have taken it upon myself to do this for you without charging a dime. Maybe it is my calling. Maybe it is my ministry. Your eyes must be opened. You must learn and perfect the art and science of fishing, rather than being at the mercy of the fish giver.
You see, it is all about cashflow.
Even when you have a stable source of income, you need to widen your sources. Rich people knows that they cannot live on only one source of income.
Dangote will sell Sugar to you, the same person will sell salt, cement, flour, noodles, pastas and many more. In few months, he will sell you fuel. Each time you buy his products, money flows from your pocket to his. HE MAKES MONEY FROM YOU. Who do you make money from? Just you employer?
Adenuga will sell you recharge card from Globacom, he will still sell you fuel from Conoil. Why did he not say since I can make money from recharge card, I do not need to sell fuel again? You know why? He understands the concept of cashflow.
If you still wonder why these guys are the richest in Africa, then you have got to go on research voyage.
Life is all about exchange. Financial breakthrough is about three things:
-Financial knowledge
-Financial intelligence
-Financial discipline
In subsequent editions, I will try to deal with each of this, nonetheless, the objective of all is cash flow management.
You must understand that money flows around and that is while it is called currency. I am not aware of anyone who was born with money in his pocket. All the money in this world are made in this world. That one is born into inheritance does not mean he will be wealthier than another who came from the back of beyond. The determining factors are the value each is able to offer and their attitude towards cashflow management. I have seen a prince becoming a slave and I have seen a slave becoming a master! I have seen people inheriting great fortunes and squandering the whole wealth and even begging after a short period of time. I have equally seen people who had nobody to rely on and blossoming the world of financial breakthrough. Therefore, your background is not an excuse. All you need is the right mind set, the sellable values and cashflow management.
It is just a basic principle. When you have more money flowing towards you than flowing away from you, then you begin your journey towards financial freedom.
Basically, your net cashflow is impacted by two factors: the amount of money you spend and the amount of money you receive.
If you have cashflow problems, the financial experts will naturally advise you to cut down your expenses in order to improve your net cashflow position. This is a good advice, but honestly, I do not believe it is the best for you.
To me, when you reduce your expenses, you most likely cut down on lifestyle choices. For example, if you always love to visit the Bahamas twice yearly, you would be advised to reduce it to once in two years to save cost.
What if visiting the Bahamas is what makes you happy in life? What if your holiday in the Bahamas is a key source of your life fulfilment? My dear, life is all about happiness. Why would you then cut down your source of happiness simply because you want to save money?
To me, instead of reducing your costs, wouldn’t it be better to increase and widen your income source of income sources? Why don’t you create other avenues to generate income? If you ask me, everyone must have at least, four good sources of income per time.
This means you must have value streams in four quadrats because people will only pay you when you offer value since money is a means of exchange for value.
Basically, value is your ability to solve problems. You see, the world is like a big examination hall full of problems meant to be solved by the students (us).
Therefore, the bigger the problem you are able to solve, the more money you make!
If you solve a local problem, you make local money (a case study of a roadside food seller comes to mind).
If you solve national problems, you make national money (MTN solves national problems of communication in Nigeria).
If you solve a global problems, you make global money (Mike Zuckerberg solves global social problems with his Facebook).
The question is what problem are you solving? You are broke because you do not have sufficient value to offer to the society to generate enough cash inflows that can overrun your cash outflow.
What then can you do?
You need to create alternative sources of income.
You need to learn new skills. Indeed, in the world of today, you cannot do without digital skills.
Also, you need to acquire marketing and selling skills. If you have the best of values in the world and lack the skill to market and sell them, then you could be poorer than the proverbial church rat.
Above all, you need to contact me to see how I can work with you to create your glamorous future of wealth and affluence.
Remember, living on only one source of income is like driving without a spare tyre on a rough road
Financial nuggets from;
Omooba 'Tunde Olajide
(‘Tunde is an international financial and management consultant and a final year PhD researcher in strategy and applied management at Coventry University, UK)
