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1. Find what you truly love (your passion)...which pays a decent wage: The notion that simply finding what you truly love and doing it will set your life on course to a decent living, financially or make you rich no longer holds. Finding a work or a skill that truly brings out the best in you; something that comes to you effortlessly remains a critical part of the journey to financial freedom. However, if that which you truly love does not have the potential or capacity to attract a decent wage, you are doomed to fail. It is important that you explore your skills and interests against a backdrop of the job market/business world before committing to a career. For some, trial and error may come into play before they finally find their true passion. Whatever it is, it is critical that it harbors the capacity to earn you a decent livelihood. The Bill Gates, the Aliko Dangotes, the Warren Buffets, the the Beyonces, Oprah Winfreys and Jim Ovias of this world are where they are today largely because they found their passion, but most of all, they realized the potential of their passion to catapult them into real wealth and a meaningful life. We don’t all have to become like them wealth wise, but finding a true passion of yours that is commercially marketable is key to achieving some degree of financial freedom.

2. Consistently invest in yourself: Most people rely solely on schools and universities for their education. Some of the richest people in the world today are self-taught. They taught themselves the art of whatever they do for a living with little or no tertiary education. On the flip side, they have a wealth of experience that most universities do not teach. Therefore, it is important that you seek out what you love, but more importantly, that you spend time and money learning how to do it better than most people. Internships, apprenticeships, seminars and informal learning sessions are great ways to expand one’s horizon. Reading consistently with emphasis on the subject matter that you consider endearing to you for work is very likely to empower you with extensive knowledge - someday, people may end up paying you for that information/skill.

3. Pay yourself first: Apart from tithing, this is one of the most critical practices that will likely set you on course to wealth. Most people find numerous and interesting ways to spend their money as soon as work or business begins to boom. They forget the age long practice of setting aside at least 10% of their income for reinvestment. The rich and powerful know how to make their money work for them, while the poor work for money. The rich grow their wealth and then put it to work to make even more money. If you are not setting aside a chunk of your income, you are selling yourself short. This is an important step in the journey to breaking the cycle of financial mediocrity.

4. Protect your wealth: It is very common to find people who were rich just a few years ago but are broke to their last coin today. This often arises from financial recklessness. Once money begins to flow their way, some people begin to plot how to get as much as they can off you without working for it. Also, mishaps are bound to happen along the line. You must take serious and consistent steps to protect your wealth. Insure your wealth and business and be as wise as a serpent in your business dealings, else, your wealth is bound to become history. 

5. Delegate responsibilities: Andrew Carnegie, once the richest man in America at some point had several millionaires working for him at the same time. He once said himself that he was in the habit of getting people more intelligent than himself to work for him. To think that you can do it all alone is often a sign of insecurity. It blinds you to your weaknesses and sets you on the path to painful failure. You are better off hiring brilliant and reliable minds who can make you richer while making good money for themselves working for you. No wonder companies such as Google, Facebook, Microsoft, KPMG, McKinsey Group and Procter and Gamble etc seek out the best minds to work for them and pay them well. 

6. Be flexible and open-minded: Technologies such as the walkman, CD player, DVD player, cassette player and many more are now artefacts in museums. Accordingly, the companies that relied heavily on their production or usage such as  DVD rental outlets have gone with them. The idea of a touchscreen phone (iPhone) was once pitched to the CEO of Blackberry but he turned it down on the premise that people would not ‘fancy’ touchscreen phones...Well, I am sure you are wondering the same thing I am wondering - Blackberry missed out big time! Look at Apple today!!! IBM has remained relevant from its original niche of photocopier manufacturing to computers and analytics today. Had they stuck adamantly to their photocopy roots, they’d probably be history by now. Do not be too stubborn. Read the trends of the market and adapt accordingly...ahead of change, or be left behind.

7. Do not put all your eggs in one basket: Stock market investors know and apply this principle all too well. As your wealth grows, diversify. An obstinate attachment to your original source of wealth may make or break you. If your original line of business continues to boom, then all is well; otherwise, you may find yourself in the gutters. While you may need to stay true to your core roots, expanding and branching into other areas is important to your financial evolution and growth. While being flexible often requires tweaking and adjusting your core business in response to market forces, putting your eggs in different baskets encourages you to branch out into entirely new or similar areas of business. This is the reason Facebook would go and buy smaller (in some cases) outfits with great potential for growth, such as WhatsApp for US$19 billion, while Google shells out US$12.5 billion for Motorola Mobility and Microsoft spends US$8.5 billion to acquire Skype. Spread your risk by venturing into other areas. Often, some will fail while others will succeed...and quite frequently, massively, thereby making up for the failures.

8. Be a doer: Ideas change the world only if they are firmly put to use! No matter what your visions and dreams are, if they are not put to work, they are useless. Do not wait for a perfect time to start. As you may have heard several times, Bill Gates started Microsoft in a garage having made a promise to write a software even when nothing was in place to get it done. There is no perfect time. It is important to be cautious and to study the terrain before venturing out. However, you cannot stand on the river banks forever. Make up your mind based on useful and abundant information when to jump in and begin. There is genius and power in action. You will never get anywhere unless you start.

9. Stay focused and resilient: On the path to actualizing your dream and carving a new path for your career/business, you will be beset by turbulent waves. Troubles and failures will emerge from left, right and center. Stay true to your dreams and fight on. Winners are losers who got up and fought one more time. Give it your best and never give up.

10. Be optimistic and happy: The notion that money will make you happy may not be the case. Not having it may not make you happy either. So, learn to be content where you are and with what you are doing. That way, when you do make it, it is not a destination that controls you, and while you are in pursuit of your dream, you do so with happiness and a positive mental attitude. Be happy in the journey and look at life with faith and hope. Make a habit of being happy no matter what you are going through!


Written by:   

Victor Chinoo
Image source: http://www.tiogatowncenter.com/

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Nigeria's leading fictional story blog - make you rich, find their true passion, explore your skills and interests, job market/business world, Aliko Dangote, Bill Gates, Beyonce, Oprah Winfrey, Stock market investors, CEO of Blackberry, billion, US.
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