What did you learn about money? Where have you heard about money or wealth?
Let us address the question of our basic educational institutions, the schools, where we learn the realities of life.
What are the subjects taught at school?
Language, math, science, history, social studies, religion, and others, are all important for us to learn to integrate well into society.
Even at the university level, depending on the course one chooses to take, the courses focus on theories, principles, and/or basics with little real-world relevance.
How do we learn new things?
Reading websites, attending seminars and talking to people more knowledgeable on the subject are some of the ways. We also learn by making mistakes, just like babies learn to walk.
It’s like roller skating, where we bruise every time we fall. The message is: “Don’t let mistakes stop you from learning. Learn from these mistakes and let them encourage you to learn more.
Always keep in mind that education in schools is only the basis of general culture. Outside of school, it is necessary to acquire as many skills as possible, especially those related to wealth creation.
I firmly believe that the choice of effort must be rooted in love. Because when you love what you do, you enjoy it and take good care of it, not to mention the benefits it brings to your health. With this in mind and heart, you follow your life’s dream and you can use this principle in choosing your business to get rich.
Love is one thing. Knowing is another matter. Know your business. Know how to do it. It is imperative that you have financial literacy to become rich.
Information is wealth these days. Be aware of what is happening around you. You will find the opportunity to enrich yourself from the current information.
Time may be essential depending on the subject of the business. Trade knowledge is very important; That’s why learning is a continuous process. You don’t have to be familiar with a particular company, but it’s a good idea to learn about it before joining.
People with real experience on a topic are people you can talk to to gather information. Don’t listen to rumors or people who don’t know or have no experience with the subject. Knowledge is an asset; do not know is a handicap. This is why information is wealth.
Communicate financial matters with your colleagues as often as possible. It’s a way to get new updates.
On topics that are unclear or unfamiliar to you, ask questions (rather than pretend to know when you don’t) and generously share what you know when asked. Opportunities sometimes arise spontaneously in discussions that benefit one or both parties.
The element of risk is always there even if you know the business. This is inherent in every type of business. But risks can be managed and minimized if you have the proper knowledge.
Information gathering can be time-consuming, but time is well spent. Sometimes gathering information takes longer than the business itself. However, keep in mind that timing (when to act) can be crucial in the area of your business that interests you.
What you know is different from how fast you know it. Remember the old adage, “The leader of the flock catches the worm?”
The first or oldest person to know has a chance. If you know of an opportunity that hasn’t been in the news yet, that’s good news. Stay focused. Keep your mind alert and sharp. True to the advice of a weather station: “Know before you go”. The same is true in business: “Know before you start (act).”
In business, you must learn to manage your cash flow, your people, and your systems. Learn where your investment should be at any given time so you don’t run out of money halfway through. Make sure your money is flowing to the right place. Learn how to manage your employees. They work for you, so take good care of them and they will take good care of your business.
Systematize your workflow. It will also reduce wasted time, energy and money. What you save is additional profit.
Also don’t forget to make time for activities outside of your profession, such as family and society. Like providing credit when credit is due, indicate the time at which it is due. Think of ways to get more done in less time. This will increase your profit margin and make you more competitive.
Most people find it difficult to market or sell products and/or services. Your potential customers must take time and patience to get used to what you have to offer. Their most likely first reaction is to reject it. It’s normal. With the right people negotiating and managing the marketing aspects of your business, you can overcome this difficulty and ultimately achieve positive results.
Communication skills are important. It’s your eyes, ears, and mouth rolled into one. It is a friendly spy to keep you updated and better informed. Without it, you’d be groping in the dark.