Wealth Creation: 10 Steps To Financial Freedom

From my research and study in the topic of building wealth, I have distilled all formulas and guidelines into 10 important principles. If you follow these simple principles and always think outside the box, you will be on the right path to achieve financial success and wealth that will last you a lifetime.

  1. CREATE & VISUALIZE YOUR GOALS: They will always lead to wealth creation. Set a particular goal and visualize it every day. In setting your goals, you should always be sure they are categorical, quantifiable, realizable, pragmatic and time bound.
  2. DO YOUR HOMEWORK: Never jump into any business venture, irrespective of how attractive it may look. This could set you up for failure and disappointment. The more interesting the business opportunity, the closer you ought to be in examining their claims on returns on investments.(ROI) As a budding entrepreneur it’s important to test each business opportunity before you invest a significant amount of time and/or money.
  3. IDENTIFY A PROBLEM & FIND A SOLUTION: This is the key to creating sales and cash flow for your business. Be determined enough to stick with it and don’t quit. Everyone is consistently attempting to find solutions to their problems. If you can offer them a quality product and an excellent value, then the world is your oyster. People are willing to open their wallets to those who can offer an easier and better life to them. One thing you must remember is that there are always problems waiting to be solved.
  4. THINK BIG & KICK ASS: The one thing that starts from the top and grows down is the grave. Otherwise, everything else in life starts small and grows up. When you grow up, you stay up, but when you jump up, you come down. Naturally, common-sense tells you that when you jump up, the force of gravity simply pulls you down. There’s such a lot to be learned at the start of your business. It will be small, but you will be dreaming big! So as you have a giant vision to grow, your business will grow too! Remember the proverb… “To Think Is To Create”Keep your vision, create a mission statement and share them with everyone you hire. With this you will all have a common goal to work toward each and every day.
  5. USE EARNED CAPITAL TO GROW YOUR BUSINESS: As you grow your business, remember to always use capital from your profits. Growing a business on borrowed capital is a very big risk indeed. You must be prepared to dance to the music when it starts to play. If you position the growth of your business, without acquiring debt, it will allow you to work harder and ensure you make the cash and merit the growth.
  6. CHOOSE THE RIGHT PEOPLE TO WORK WITH: You need to be careful in picking the people you’re going to work with in the business. If you truly want to grow your company, it is vitally important to choose people that are suited to the tasks that you assign to them. For example, you wouldn’t hire a heavy machine operator to run your sales department, right? A great deal of time and money could be lost by attempting to put a square peg in a round hole.
  7. USE FISCAL LEVERAGING: When your business starts to grow, it will be reflective of your business income. The entire essential nature of beginning a business is to develop a consistent, foreseeable source of cash flow above cost and expenses. The bank will lend your business money based on the amount of cash flow it produces each month or year. So make sure that you keep the cash flowing even during slow economic periods. This may take some “thinking outside the box”, but that is what being an entrepreneur is all about.
  8. THINK OUTSIDE THE BOX:There will always be competition in any market you choose to enter. It is important to brand your business so you stand out from the others. When branding your business be sure to always be thinking outside the box. Come up with ideas that haven’t been used before and you will surely get noticed.
  9. DON’T STOP LEARNING: Read, Read, Read… Always be learning about your product or niche, your target market, and how the economy may effect your business. It is important to always be attempting to stay one step ahead of your competition. Continuous learning will allow you the flexibility to make changes in the business when necessary to stay on the top of your game.
  10. LEARN FROM A MENTOR: It is much easier to achieve financial success by following in the footsteps of someone that has already been in your shoes and has reached the pinnacle that you envision for yourself. Find a mentor that you feel a connection with and has reached the level of success that you are striving for. Then listen to their every word. They will teach you the steps necessary to reach your financial goals and dreams. Remember that everyone that has reached financial success as an entrepreneur has followed in the footsteps of another.

7 Strategies For Wealth and Happiness

Wealth and happiness are two of the great desires of human beings. In short, they often go together because most people that are financially wealthy tend to be happy because of the attendant financial independence. I am sure this realisation must have informed why Jim Rohn decided to entitle his book “7 Strategies for Wealth & Happiness”. Rohn is America’s foremost business philosopher who has helped people of all walks to improve their lives. His tapes and numerous appearances have made him a powerful influence in the lives of millions of people. He is acknowledged by his peers as a pre-eminent teacher as regards success and happiness discourse.

In this text, Rohn offers guide on how you can unlock the fountain of your prosperity inside of you. According to him, you do not have to make a choice between wealth and happiness because the two are interwoven necessities that every ambitious human being must strive to achieve together. The author reveals the seven valuable strategies that are central to your achievement of success and enjoyment of happiness. According to Rohn, for you to realise your aspiration of enduring success and happiness, you need to unleash the power of goals; seek knowledge; learn the miracle of personal development; control your finances; master time; surround yourself with winners; and learn the art of living well. This text is segmented into seven strategies (parts) of eleven chapters. Rohn isolates chapter one from the strategic segmentation, thus grouping chapters two to eleven into seven strategies.

In chapter one, he examines five key words. According to Rohn, all the ideas in this book stem from a group of key words. He adds that to understand this book, therefore, and get maximum value from its contents, it is essential that we examine these key words one after the other. These key words, according to Rohn, are “Fundamentals”, “Wealth”, “Happiness”, “Discipline” and “Success”. He says fundamentals refer to those basic principles on which all accomplishments are built. “Fundamentals form the beginning, the basis and the reality from which everything else flows,” he adds. Rohn stresses that success, like happiness and wealth, is no more than the natural consequence of consistently applying the fundamentals of success to life.

As far as the second key word “Wealth” is concerned, Rohn submits that wealth is a controversial word because it brings to mind a wide variety of images and sometimes conflicting concepts. The author educates that to one person, wealth may mean having enough money to do whatever he or she wishes; and to another, it may mean freedom from debt, etc. However, he says out of this diversity of perception of wealth comes creativity, and creativity can help each of us find unique ways to work for a life of abundance.

As far as happiness is concerned, Rohn observes that happiness embraces the universal quest, a joy that usually accompanies positive activity. He says happiness is the skill of reacting to the offerings of life by perception and enjoyment. Rohn expatiates that it is achieved by both giving and receiving, reaping and bestowing. He adds that it is being able to feast on harmony as well as food, on ideas as well as bread. Happiness comes to those who deliberately expand their horizons and experiences, says Rohn. He adds that it resides in the houses of those who have the ability to handle disappointment without losing their sense of well-being.

In Rohn’s words, “It belongs to those who are in control of both their circumstances and their emotions. Happiness is also the freedom from the negative children of fear such as worry, low self-esteem, envy, greed, resentment, prejudice, and hatred. Those who experience happiness often have a grasp on and an awareness of the tremendously positive power of life and love. ” The author asserts that happiness is more than a general feeling and is also a method of thinking that organises feelings, activities and lifestyle. This expert says happiness is about having values in balance, stressing that it is contentment with daily tasks, including those unpleasant chores from which a few of us are free.

Rohn educates that happiness is a life well lived and filled with people of substance. He says it is a wide variety of experiences and memories that become priceless forms of currency to spend and to invest. According to Rohn, happiness is activity with purpose and it comes to those who deliberately expand their horizons and experiences. As regards discipline, Rohn says if there is one critical ingredient for your successful quest for both wealth and happiness, it is discipline. As far as the last key word, that is, “Success” is concerned, the author educates that it, too, maintains elasticity of interpretation. Rohn adds that it is an elusive notion, a paradox as it is both a journey and a destination. “Success is both accomplishment and a wisdom that comes to those who understand the potential power of life,” reflects the author.

Strategy one of this text is generically labelled “Unleash the power of goals”, and contains three chapters, that is, chapters two to four. In these chapters, Rohn examines the concepts of what motivates people as regards goals, how to set goals, as well as how to make goals work for you.

In strategy two that is notionally christened “Seek knowledge”, and contains one chapter, that is, chapter five entitled “The path to wisdom”, this great business philosopher says one of the fundamental strategies of living the good life is to know what information you need in order to achieve your aims. Rohn says once you know what you need to know, it is also helpful to know how to go about gathering that knowledge. The author stresses that you will want to capture all the knowledge you gain as you live your life. He says that is why he encourages you as a serious student of wealth and happiness to make use of a journal and diary as a gathering place for all ideas that come your way. The author reveals that what will gradually emerge is an incredible treasure containing business, social, cultural, investment and lifestyle ideas. He adds that the two ways to gather wisdom are by learning from your own life; and two, by studying the lives of others.

Strategy three is labelled “Learn how to change”, and covers just a chapter, that is, chapter six, which is based on the miracle of personal development.

In strategy four that is notionally summarised as “Control your finances”, and contains one chapter, that is, chapter seven, which is based on how to achieve financial freedom, Rohn emphasises the importance of taxpayment, the 70/30 Rule, charity, capital investment and savings to achieving financial freedom.

Strategy five is tagged “Master time”, and covers just a chapter, that is, chapter eight, which is based on how to be an enlightened time manager, while strategy six is based on the need to surround yourself with winners.

Strategy six covers chapter nine, which discusses the principle of association. “One of the major influences shaping the person you want to be is also one of the least understood. It is your association with others – the people you allow into your life…,” says Rohn. He adds that the influence of those around you is so powerful and subtle that you often do not realise how it can affect you. According to the author, to avoid wasting time with the wrong crowd, you need to ask yourself three fundamental questions: “With whom do I spend time?” “What are they doing to me?” “Is this association okay with me?” Rohn also X-rays the sub-concepts of disassociation and expanded association.

In the last strategy, that is, strategy seven which is tagged “Learn the art of living well”, and covers two chapters, that is, chapters ten and eleven, he examines your road to richer lifestyle and the day that turns your life around. “Think of something you can do today to make you feel richer and better about your life…,” advises the author. Rohn says you should be happy with what you have while pursuing what you want. He adds that it is not so hard to learn the art of living. According to the author, do not spend all your money a quarter at a time. Rather, save up and buy something special, something of a lasting value.

Rohn also stresses the relevance of emotions. According to him, emotions are a third component that acts as a catalyst that can be deployed to bridge the gap between knowledge and action. He expatiates that there are four basic ones (emotions); each or a combination of several can trigger the most incredible activity. Rohn educates that the day that you allow these emotions to fuel your desire is the day you will turn your life around. Stylistically, this text is an embodiment of success. Apart from the simplicity of language, the presentation is also logical. Brilliant segmentation of the chapters into different strategies makes this text very reader-friendly.

What’s more, to achieve conceptual reinforcement and ensure easy understanding on readers’ part, Rohn uses biblical allusions as well as autobiographical illustrations. However, one error noticed in the book, which is characteristic of Nigerian English is, “I was yet to understand….” instead of the Standard British English version “I had yet to understand….” (Please, confirm this usage from page 1664 of 2000 edition and page 1918 of 2005 edition of “Longman Dictionary of Contemporary English”.) On the whole, the text is a masterpiece. If you aspire to be wealthy and happy in life, then this text is a must-read for you. It is simply irresistible.

Wealth Creation – Why Wealth Without Women Is Useless

This idea that wealth creation without women is useless is a truly fascinating concept that doesn’t appear in most how to get rich/wealth creation books. Napoleon Hill, in his seminal How to Get Rich book “Think and Grow Rich” devotes an entire chapter to what he calls “The Mystery of Sex Transmutation”. Here we explore what this means and why wealth without women is apparently a fruitless pursuit.

The Mystery of Sex Transmutation

It may sound like a cross between some pseudo-religious revival and some peculiar biological reproductive process but the concept of “Sex Transmutation” is actually easily explained and understood. It simply means channelling ones desire for sexual expression into thoughts and pursuits of another nature (e.g. business, art, literature, sport, music etc)

Sigmund Freud had a similar idea; that those with achieved great things did so by re-routing their libidos into creative, positive energy used to pursue some worthwhile passion.

According the Hill, “men who accumulate large fortunes, and attain great heights of power and fame, do so, mainly, to satisfy their desire to please women.” Take the women out of their lives, and great wealth would be useless to most men.

A man will do anything to win the women he desires. Ditto for women. We’ve all seen men lose their marbles over women and literally risk their lives and reputation to satisfy that desire. What Napoleon Hill is musing on is this: – if you harness that sexual energy and redirect it, this hugely motivating force of nature can be used to achieve greatness in anything, including wealth creation.

Superpowers Aren’t Just for Super Heroes

Just in case you’re in any doubt about this theory, Hill actually combed through history and biographies, researching the lives of successful men and women to come up with this finding. Napoleon Bonaparte, Abraham Lincoln, and William Shakespeare to name but a few were all thought to have a highly sexed nature. When driven by the emotional drive of sexual expression, men and women became gifted with a super power of unstoppable action.

Essentially, the men of greatest achievement are men with highly developed sex natures; men who have learnt to channel their desire for the physical expression to thoughts of some other nature. “When driven by this desire”, says Hill, “men develop keenness of imagination, courage, will-power, persistence, and creative ability unknown to them at other times”

Since the dawn of civilization, men have been trying to please women. In pre-historic times men hunted and brought back meat and furs to their caves to impress the women they desired. Nowadays, bestowing fancy cars, jewels, clothes and various symbols of wealth are typical modern-day outward displays of this desire.

The Human Mind Responds to Stimulation

According to Hill, there are 10 Stimuli of the mind, 10 compelling desires to which the mind responds most freely. They are: – 1. Sexual expression; 2. Love; 3. Fame/Power/Financial Gain; 4. Music; 5. Friendship; 6. Master Mind Alliances (between 2 or more people); 7. Mutual Suffering; 8. Autosuggestion; 9. Fear; 10. Alcohol and Narcotics. Any of these mind stimulants will at least temporarily increase the intensity of thought. Through any of the above sources one can commune with Infinite Intelligence, or enter, at will, the storehouse of the subconscious mind. The most powerful of these stimuli is the sexual expression, which, when harnessed and transmuted, is capable of transferring men into a higher sphere of thought.

How to Achieve Greatness and/or Become a Genius

By Hill’s definition, a genius is someone who “has discovered how to increase the intensity of thought to the point where he can freely communicate with sources of knowledge not available through the ordinary rate of thought”. Seems like a good definition of a genius to me! And according to Hill, sex energy is THE creative energy of all geniuses.

However, the mere possession of this sexual energy is not sufficient to produce a genius of course. Otherwise every walking hormone would be a genius! The energy must be transmuted from sexual desire into some other form of desire and action. The genius firstly has the ability to stimulate his mind using one of the stimuli outlined above so that it functions on higher-than-average plane. Secondly he has the ability to tap into the faculty of creative imagination (or sixth sense) i.e. the subconscious mind. To move beyond the limits of conscious thought and reasoning, one has to tap into the powers of the subconscious mind. There are many methods available to do this but the most widely used is that of deep relaxation, clearing your mind of conscious thought and then imprinting pictures of the desired outcomes (infused with emotion) onto the deepest parts of your mind.

Conclusion:

None of this should come as any surprise when you think about it. Sex has been the driving force of creativity, resourcefulness and evolution since we were single-celled amoeba crawling along on our bellies in the muddy pools of early civilization. What is interesting though is the combination of the transmutation of sex drive and the probing of the creative depths of the subconscious mind.

Find, if you can, a single man (or woman), in the history of civilization, who achieved outstanding success in any calling (wealth creation, business, art, music etc), who was not driven by a well-developed sex nature and I will eat my hat!