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By Rene Graeber
What did you learn about money? Where did you learn about
money
or wealth?
Let us touch on the issue of our basic educational
institutions, the schools, where we learn about the facts of
life.
What are the subjects covered in school?
Language, mathematics, science, history, social studies,
religion, among others are all important for us to study to
blend ourselves well with society.
Even in the collegiate level, depending on what course one
chooses to take, lessons are concentrated on the theories,
principles and/or basics which are hardly in consonance with
the real world.
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, like babies learning to walk.
It is like roller skating where we get bruises every time we
fall. The message is: “Don’t let mistakes stop you from
learning. Learn from those mistakes and let them encourage you
to learn more.”
Always bear in mind that education in school is only the
fundamental foundation of general knowledge. Outside school ,
we must gather as much skills as possible especially those
pertaining to creating wealth.
I firmly believe that one’s choice of endeavor must be
anchored
on love. Because when you love what you do, you will enjoy and
take good care of it, not to mention the benefits it will
bring
to your health. With this in mind and in heart, you are
following the dream of your life and you can use this
principle
in the choice of your business to gain wealth.
Loving is one thing. Knowing is another. Know your business.
Know how to go about it. It is imperative that you acquire
financial knowledge to gain wealth.
Today, information is wealth. Get to know what is going on
around you. You will find opportunities to get rich from
information that is current.
Time can be of the essence depending on the subject of the
business. Knowledge on the business is vital; that is why
learning is a non-stop process. You need not necessarily be
familiar with a particular business, but you must learn to
know
the business before you get involved in it.
People who have actual experiences on a subject are the ones
you can talk to in gathering information. Do not listen to
hearsay or to those who neither know nor have any experience
on
the subject. Knowing is an asset; not knowing is a liability.
That is why, information is wealth.
Exchange information regarding financial matters with your
colleagues as frequently as possible. This is one way to
acquire updated news.
On topics that are not clear or familiar to you, ask questions
(rather than pretend you know when you don’t) and be generous
to share what you know when asked. Opportunities are sometimes
born spontaneously in discussions that are beneficial to
either
or both parties.
The risk factor is always there even if you know the business.
This is inherent in every type of business. But risk can be
managed and kept to a minimum if you have the proper
knowledge.
Gathering information may be time consuming but time well
spent. Sometimes, it takes more time to gather information
than
the business itself. Keep in mind though that timing (when to
act) could be important in the business you are interested in.
How much you know is different from how fast you know.
Remember
the old saying: “The early bird catches the worm?”
The first or earliest to know gets the opportunity. If you
know
of an opportunity that is not yet in the news, it’s good news.
Stay focused. Keep a clear and keen mind. Just like the advice
of a weather station: “Know before you go.” The same thing is
true in business: “Know before you go (into action).”
When in business, you must learn to manage the flow of money,
your people, and your system. Get to know where the money you
invest should be at any particular time so that you don’t get
cash strapped in the middle of your transactions. Make sure
your money flows smoothly to where it should be. Learn to
manage your people. They work for you, so take good care of
them and they will take good care of your business.
Systematize your work flow. This will cut wasted time, energy,
and money as well. What you save is additional profit.
Keep in mind to leave some time for your out-of-business
activities too, like family and social affairs. Like giving
credit to where credit is due, give time to where time is due.
Think of ways to do more in less time. This will increase your
profit margin making you more competitive.
Most people find difficulty in marketing or selling products
and / or services. It takes time and patience for your
prospective clients to get acquainted with what you’re
offering. Their most likely first reaction is to reject it.
This is normal. With the right people negotiating and handling
the marketing aspects of your business, you can surmount this
difficulty and eventually come up with positive results.
Communication skill is very important. It is your eyes, ears,
and mouth rolled into one. It is a friendly spy to keep you
updated and more knowledgeable. Without it, you’ll be groping
in the dark.
About The Author: You can find out more on to acquire the
mindset and behavior of the rich, copy exactly what they are
doing to achieve financial success, and stay wealthy all your
life on Rene Graeber´s website at
www.smart-ways-to-make-money.com
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