3 LAWS OF MONEY; money cannot be identified if it's not known, money is a weapon and money is a seed.
3 FORMS OF MONEY: relationship, knowledge, Experience.
3 DIMENSION OF MONEY; what is money, the purpose of money, the value of money.
3 THINGS YOU CAN DO WITH MONEY; acquired, invested and spent.
LAWS
Thou cannot identify money if thou has not known it!
Thou shalt not underestimate money as a weapon!
Thou shalt not undermine the potentials of money; it either grows or dwindles.
FORMS OF MONEY
Relationship, Knowledge, Time (Experience (skills))
3 THINGS MONEY CAN BE USED FOR
Acquired, Invest,Spent.
3 DIMENSION OF MONEY
Definition, Purpose and Value
3M's OF MONEY
Making Money,Managing Money,Multiplying Money
EVOLUTION OF MONEY
Hunter/Gather/Cavemen Era - money was ENERGY N SKILL 2 hunt ON THE LAND
Farming/Agrarian age [ challenges; class system,polygamy,slave trade,trade by batter,]
The Industrial Age. Development ; school system, job n salary system
Technology/Information age DEFINITION OF MONEY - "any medium of exchange"
MONEY FLOWS IN THE DIRECTION AND IN EXCHANGE FOR VALUE.
8 PLACES WHERE MONEY HIDES
in people, in problems,in gifts n talents,in opportunities,in products n services,in ideas,in visions,in work,in seed,
8 RULES OF MONEY
(1)Knowledge is Money
(2)Learn how to use Debt; OPM,OPT,OPE,OPI.
(3)Learn how to control cash flow; 25 percent each in; Real Estate,Capital market,intellectual or business Property,Cash flow.
(4)Prepare 4 bad times you will always have good times
(5)Speed is unnegotiable
(6)The language of Money
(7)Life is a team sport
(8)Print your own money
The day you were born your money was created but it will have to be made in other to be useful! Whatever is created, is in its "RAW STATE" anything made is in its "PROCESSED OR FINISHED STATE"
THE ENTERPRISE OF WEALTH CREATION. Deu. 8:18-20
God is the first entrepreneur Gen.1:1-
In order to come into the WEALTHY PLACE you must recognise somethings.
(1) Your COVENANT with wealth.
(2) Know that God deals with; plans,designs,purpose and objectives which is taken care of kingdom businesses with your FINANCES then by covenant He takes care of you in a certain style.
(3) You must know that there is a WEALTHY PLACE(MONEY) in God and that He wants to bring you there.
(4) Sound understanding of the will of God. Eph. 5:17, 3Jn. 2, Deu. 8:18,
There is a WEALTHY PLACE in God 4 u and He wants to take you THERE!
Tell my People they can't dream any bigger than I can DELIVER! - Dr. Leroy Thompson Snr.
The God kind of Prosperity doesn't always come over night, but it doesn't have to take years.
STEPS TO WEALTH CREATION
(1) Discover your gifts,talent and Potentials.
Your gold is tied to your gift, your treasure is tied to your talent,your profiting is tied to your potential.
(2) Discover your target markets
(3) Develop your Products
(4) Develop your uniqueness and Packaging
(5) Publicize your product/services
good product + no publicity = bad sales
Bad product + good publicity = some sales
Good Product + good publicity = Great sales
(6) Market your Product/services
(7) Manage your cash flow- it's not how much you make that matters but what you do with how much you make.
(8) Enjoy your wealth.
THE Ps TO WEALTH CREATION.
(1) Passion
(2) Personality
(3) Problem
(4) People
(5) Products
(6) Platform
(7) Packaging
(8) Promote
(9) Presentation
(10)Pricing
(11)Profit
(12) Posterity ( distributing wealth)
THREE TYPES OF INCOME
(1) Earned income. Salaries, paid or contract employment
(2) Portfolio income - stocks, bonds, mutual funds etc.
(3) Passive income - real estate and royalties.
TEN PLACES YOU CAN FIND THE RICH.
(1) The Place of inheritance
(2) The Place of Cooperate executive
(3) The Place of Real Estate
(4) The Business Place
(5) The Place of commissioned based sales
(6) The Place of Stock and Forex investment
(7) The Place of Intellectual Property
(8) The Place of information Marketing
(9) The Place of Network Marketing
(10) The Place of Sport and Entertainment
The New Age philosophy differentiate between Hard work and Smart work!
THE PATH 2 CREATING WEALTH
Wealth or Money cannot be monopolized!
(1) There is a Wealthy Place
(2) There is a Path that leads to the Wealthy place.
(3) Discovering the path and taking actions guarantees you taking your place in the wealthy Place.
PATH WAY 2 WEALTH
(1A) Financial Intelligence
a. How to make, manage and multiply money
b. What money really is and where it hides
c. The strategies and principles for creating wealth with little or no money
d. The rules and new rules of money
e. The vehicles of wealth creation
f. The place of inflation, cash flow, delay gratification, compound interest
g. How to develop investment mentality
h. The power to create wealth
i. The difference between Asset and Liability, Salary and Income, good and bad debt.
HOW 2 ACQUIRE FINANCIAL INTELLIGENCE
a. Reading books.
b. information CDs and DVDs
c. Training / seminars
d. Networking and right association
(2B) FINANCIAL PLANNING
this implies strategy, steps and structures put in place to acquiring a goal.
THE PARKINSON'S LAW
A mans expenses will always rise to meet his income and make him stay the same.
THE STAGES OF LIFE
1. The Morning stage of Life(the learning stage), between 0-25 yrs.
this is the stage you are expected to learn all the basics of life and get enough qualification 4 d nest stage. You should discover your vision and purpose in life.
2. The Mid day stage ( the earning stage) between 25-50 yrs. use what you've learnt in the first stage to earn a living and produce fruits of life.
3. The Evening stage(this is the last stage of life) between 50-70 yrs. above!
At this stage you should have gained financial independence.
THREE STEPS TO FINANCIAL PLANNING
(1) Ascertain your Position
a. How old are you?
a. How rich are you?
c. How Poor are you?
d. Are you in debt?
e. What sources of income do you have now?
f. What potential income are at your disposal?
g. Do you presently have investment mentality and financial intelligence?
h. Do you have any investment and financial intelligence in place.
2. DETERMINE YOUR DESTINATION
a. When do you want to retire or gain financial independence?
b. How old do you want to be when that happens?
c. How much will you need to take care of yourself and your responsibility then.
d. How rich and comfortable do you want to be?
3. CHOOSE YOUR VEHICLE
This imply an investment term used to describe what channel, strategy or type of investment one chooses to use. E.g real estate, business, intellectual property, the capital market etc.
THINGS TO NOTE ABOUT YOUR VEHICLE
a. How early you start matters.
b. how much you invest matters.
c. The interest or returns you get matters.
d. How consistent you are matters.
e. What you do with your interest and returns matters.
f. It determines how much effort you put into it.
g. Determines how early or late you arrive.
h. Determines how secure you will be.
VEHICLES;
*Paid Employment
*Inheritance
*Money market; savings, current accounts, Fixed deposit, Call deposit, Treasury bills.
*Capital markets; stocks,bonds etc.
*Real estate.
*Business
*Intellectual Property
*Network/Multilevel Marketing
*Internet Business
*Information Business
*Precious Gem
*Painting and art work/artifacts
*Commodity trading
*Agriculture and animal husbandry.
THE 30/70 PRINCIPLE, 10% tithe, 10% personal development, 10% savings and investment.
INVESTMENT PRINCIPLES TO NOTE
(1) Planing
(2) Time. Your time = your money,
(4) Inflation - 10,000 per annum and gain 8 percent per annum in interest, with inflation at 4 percent at average, after twenty yrs. your actual investment would be 457,620 but your actual buying power will be 208,852 bcos of inflation.
Your investment growth and returns must exceed inflation, or you will never be financially free.
FOUR MAJOR INVESTMENT PORTFOLIO
Capital Market,Real estate, Business and intellectual Property
(5) Compound interest- I.e interest + capital over a period.
(6) Power of Annuity. It's a series of equal payment made over a fixed interval for a specific period. Compound interest N18000 invested once at 20 percent/ annum = N690,076 in 20yrs while Annuity N18,000/Annum at 20%/Annum = N3,360,384 in 20 yrs.
(3C) FINANCIAL DISCIPLINE
Action to decision and sticking to it.
*You must stick to your budget
*You must deny yourself of something's
*You must live within your 70% bracket
*You must avoid distraction
*You must delay gratification
*You must avoid emotional and impulse purchases.
*You must avoid pleasing people to the detriment of your future
*Avoid doing what everyone is doing.
HOW 2 RAISE CAPITAL TO START A BUSINESS
The Capital is the start up point of every business which may not always be money.
Types of Capital.
(1) Idea Capital. Money without idea is incomplete
(2) Integrity Capital.Money without integrity is incomplete
(3) Experience Capital. Money without experience is incomplete
(4) Spiritual Capital.
(6) Emotional Capital.
(7) Material Capital.
(8) Relationship Capital.
(9) Physical Capital. Money without sound health is incomplete
(10) Financial Capital. Not exclusive.
FORMS OF CAPITALS
(1) start up capital
(2) expansion capital
(3) consolidate capital
(4) diversification capital. I.e going into other markets or region as your business grows.
20 PLACES TO FIND CAPITAL FOR YOUR BUSINESS
(1) personal savings
(2) Family and friends
(3) Mentors and Angel investors; willing to invest as venture capitalists etc.
(4)selling your liabilities and assets
(5) Partnership
(6)grants, (from government, NGOs; provisions to help build business)
(7)cooperative and thrift.
(8)gratuity and seasonal benefits.
(9)trade by batter
(10) Bank facilities.
(11) insurance pay offs
(12) NGOs
(13) Mergers and acquisitions
(14) Sell the idea
(15) start with the idea
(16) marketing for commission.
(17) sell shares
(18) creative finance I.e using other peoples money it requires integrity and credibility, you can be payed up front for a product or services and that money can be used to provide what the customer want.
(19) seek counsel/ consultancy.
(20) position yourself for a miracle.
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