Emmanuel F. Kumah: Three lessons from Money

Thank you for following my chit-chat on money, I am grateful for taking time off your busy schedule to visit me again.How has the chit chat on money being, insightful? I just hope you are taking some few notes on the important points and applying it to your everyday issue of money.

Today, we would talk about some three lessons we can draw from money and apply it wisely,for  it is not how much you know but how well you apply what you have learnt to make  your life better.Are you ready?

Lesson one: Money is Important

One of the most prevalent misconceptions concerning money, relates to its

importance. For example, how many times have you heard people say in

conversation, "Money isn't everything." or "Money isn't important." or "I don't care

about money." Well, the people who say these things might not care about money,

but inwardly they really need money to satisfy some important needs in their life.

Just look closely at what you are wearing, if money is not important I guess you would have not be wearing any clothe today, or perhaps you would not be reading this article at all as whatever you are using to access this information needed money to do so.

Lesson two: Money does not buy happiness

This is one of the most arguable issues when it comes to money,I do not think I am the best person to talk about this, however, what I am about to share is mainly from my own opinion.

Well, does money buy happiness? Indeed money does not buy happiness but that thought of it can make you happy. Let me illustrate this, when you buy a new Mercedes Benz, do they put an equipment inside that makes you happy when you drive it? Certainly not, the latest cellular phone in town does not have a function called happiness installed in it. So what then makes people happy when they hear of or find money. Money in itself is a piece of paper with inscriptions on it, and there is no inscription on it called happiness.The reason you feel happy is that the happiness is generated in the mind not in what you possess, in other words it is our thinking pattern that makes us happy not the possessions.

The next illustration;Why is it that people who are promised pay increase or something important gets excited even when they have not received it immediately? Because the happiness or excitement generates from the mind not what they have.You can live a very happy life even if you do not have money because that amount of money or possession would not make you happy, it is what is inside of you that makes you happy.Well, if you disagree with me you can drop me your comment and let’s get talking.

Lesson three: Money is a Slave

Most people make money their master instead of making money their servant.If you consider money as a master it rules over you and dominate everything you do. However, if money becomes your servant you exercise authority over it.Most people have a miserable life because they see money as a master. Now here is my crazy thinking, it you see money as a servant it goes to work for and makes profit for you, in other words when money becomes a ruler of your life ,you go to work for it , this should not be.If money is a servant to you , it obeys your voice and your instructions, you then command it to go  to work for you and it would willing do.When it does, it also give birth to more money which intends becomes servants for you to generate the more.This is one of the most important principles of wealth creations. So the next time you receive an amount of money, make it your slave.

 What Next?
I would love to hear from you drop me a comment on what you think about this post, i would be glad to hear your views. Thank You

Emmanuel F. kumah:Money and Me

In my recent article on issues of personal finance, I asked a simple question that formed the basics of my writing,’Is money Good?’ Well I hope you enjoyed reading that article on money.

Today, we would want to continue another discussion of money as it can make or unmake you.Money is the idea of our thinking, and we would deal with the concept of money and you, focusing on the lessons  we can draw from the note called “Money”.

Are you ready to enroll in the school of money? Well take your seat and let me teach you money.

Let’s begin with this story?

The Edgewater Beach Hotel

In 1923, at the Edgewater Beach Hotel in Chicago, eight of the world's wealthiest

Financiers met. These eight men controlled more money than the United States'

government at that time. They included:

1.    The president of the largest independent steel company;

2.    The president of the largest gas company;

3.    The greatest wheat speculator;

4.    The president of the New York Stock Exchange;

5.    A member of the President's cabinet;

6.    The greatest "bear" on Wall Street;

7.    The head of the world's greatest monopoly;

8.    The president of the Bank of International Settlement.

Certainly, one would have to admit, that a group of the world's most successful men

was gathered in that place; at least, men who had found the secret of "earning

money."

Now let's see where these men were twenty-five years later:

• ·         The president of the largest independent steel company, Charles Schwab, lived on

borrowed money for five years before he died bankrupt.

• ·         The president of North America's largest gas company, Howard Hopson, went insane.

·         The greatest wheat speculator, Arthur Cutton, died abroad, insolvent.

• ·         The president of the New York Stock Exchange, Richard Whitny, was sent to Sing

Sing Penitentiary.

• ·         A member of the President's cabinet, Albert Fall, was pardoned from prison so he

could die at home.

• ·         The greatest "bear" on Wall Street, Jesse Livermore, died a suicide.

• ·         The head of the greatest monopoly, Ivar Krueger, killed himself.

• ·         The president of the Bank of International Settlement, Leon Fraser, also died a

suicide.

Each of these men learned well the art of earning money, but none of them learned the personality or characteristics of the money they have earned.No wonder Charles Schwab borrowed money for five years before he died bankrupt. My question to you is that, what happened to all that money? He never learnt the art of making money his slave and did not know the characteristics of money.

When I tell this story to many a people , they then conclude that money is not good and is evil. But the fact that someone wears his suit upside down does not guarantee you to do the same.

This article is a continuation  of my chit-chat with you about money,so enjoy reading it and learn some useful lessons from it.

We would focus on three main lesson we can draw from money in my next post .

What Next?

Has this post being educative, or you have a view to share. Feel free to drop me your Comment

Emmanuel.F.kumah:Climbing the ladder of Success

One of the primary characteristics of successful men and women in every walk of life is that they have very clearly defined ideals and they are very aware of whether or not their current behaviors are consistent with their idealized behaviors.Success is not developed in a day but it is a daily affair, to be successful you need to follow the foot steps of other successful people in your society,do what they do and you would get the results they get.

If you intend to be successful in every area of your life , you are reading the right material mix it with faith and this step would give you the momentum needed to achieve success in every area of your life.Are you ready to explore with me some steps you can take to be a big success. Since you are still reading, i guess your answer is definitely YES!

 Now let's get going

3 ways to be a successful Person.

1.Determine Your Direction :Determine the direction in which you are heading with your life,it is very simple, this is important because, if you do not know where you are heading to someone would show you a different road, your direction guides the growth and evolution of your character and personality. Have a clear view of life and develop a good self concept about yourself do not look down on what you can do-this self concept ,which is a combination of all of the qualities and attributes of other people that you most admire,(you may admire motivational speakers, music ministers or teachers),would guide you to determine the direction you are heading. Remember success is not a matter of speed but of the direction you take.Ask your self some thought provoking questions:Where are heading to in life,where would you find your self in 5 years to come? Some of this questions would help you follow a particular course until you succeed.

 
2.Strive Toward Excellence: Throughout your life, you have seen and read about the qualities of courage, confidence ,dedication and perseverance, this are the land marks in achieving success in life.If you strive to be the best you can,wherever you find your self, You might not always live up to the very best that you know, but you are constantly striving to be a better person in light of those qualities that you value so highly. In fact, everything that you do on a day-to-day basis is gradually getting you to the place you belong,be the best you can be and offer the best service you can.Each day of yourlife,do some activities that makes you be the best,excellence is essential,never settle for mediocrity.If no one realize the effort you put in things ,never give up at least you know you are developing the habits of successful individuals.

3.Set Challenging Goals: The next step you can climb to be successful is to set goals that would challenge the things you do.One mark of every successful man is the goals he set .As you set higher and more challenging goals, the will to do  improves and crystallizes,it becomes like the chains of iron that can never be destroyed by circumstances. When you set goals for the kind of person you want to be and the kind of life you want to live, your self-concept  rises and becomes a greater guiding and motivating force in your life.Challenge the status-quo. Set challenging goals in your career and life  and i would see you on the ladder on success.
                                                  Parting Words:
Your Future is Unlimited: Perhaps the most important thing for you to realize is that whatever anyone else has done or become, you can do or become as well you need to improve on what has already been done and improvements in your self-ideal begin in your imagination, know that there are no limitation to your mind except that which you would acknowledge and accept.Start dreaming your future today,and know that the future never happenes but is always created.

This action Exercise Could be of Help:
Action Exercises:Here are two things you can do immediately to put these ideas into action.

1.First, dream big dreams. Set big, exciting, challenging goals and ideals for yourself in every part of your life. Allow yourself to imagine a wonderful life ahead.

2.Second, think about how you would act if you were an outstanding person in every way. Then, practice being this person, as though you were acting a role in a play. You'll immediately notice a difference in your behavior.
A goal without a plan is only a dream and know that the world have no room for dreamers but action takers.

What Next, Is your Turn

Has this article been of help to you, do you still have any questions you would love to ask or a suggestion to make ,let me hear from you, you can also share this article on facebook and other social networking sites.Thanks.

EmmanuelKumah: Tips on starting a Business

Many individuals dream on starting a business one day, they dream of being their own boss and having the freedom to do what ever they love to do. Unfortunately many people don't know how to.In this post,  i have been sharing what i know about starting a new or existing business with you and i appreciate the effort you put in reading my post. Hope you are being inspired?

I would love to continue on the tips in starting a business to help you on the path to being your own boss and retiring very early in life. If you have not read the first post please go back and read and let's continue the journey.  Are you ready for the other tips?

Tips on starting a Business

3.What Can You Improve Upon?

There is nothing new under the skies, if you want to start a new business , do not struggle coming up with something new.Just ask yourself- What can i Improve On? Look for something that is an improvement on an existing product or service rather than something brand new in addition look for something that is cheaper or of better quality than what you originally know.Search  for something that has additional features or functions that current products don't offer. Look for something that is better in some way in comparison to something that people are already buying and using. Improving an existing successful product or service is the fastest and surest way to build a successful business. An idea only needs to be 10% newer and better to capture substantial market share.Don't be caught in a fix

4.What Can You Get Excited About?

We all get excited about something , what excites you?Look for a product or service about which you can  really become enthusiastic,most people become wealthy by translating or transforming their hobbies or passion  into a business. You will always be most successful doing something or marketing something that you really love and care about, and it is what we become passionate about that drives us to excellence.Find ways of translating your hobbies,interest or passion into a business idea, because you are easily excited about it , the passion would generate perseverance and this would automatically generate the financial reward you are looking for.

What Next?

let's met and celebrate your success and don't forget to  drop me a comment and any suggestion that may help. Thanks

EmmanuelKumah: How to start a Business

Hi there, today i would be starting a new post on how to start a  business, many young individuals have the desire to be their own boss and  to earn some extra money.Unfortunately, not many know the fundamentals of starting a home based business or turning their ideas into profit. Worry no more ,in this post we would be exploring how  to start your own business and be your own boss. Hope you are ready to learn? Before i begin , know that your most valuable asset in starting a new business is your mind. It is your ability to think, to question, to analyze and then to decide and take action that determine whether you would be successful in staring your own business. What this post would do is to give you  key ideas and exercises that will help you to make better decisions and get better results. Your job is to take action on these decisions once you have made them. And don't forget to give me a little of the money when it starts to flow,Would you do it ? Becoming An Entreprenuer: How to start a business Let's begin with the basics so we can climb high the ladder.Whether you are already operating a business, or you have just decided to start a new business, you must continually evaluate your current situation. Even if you are currently selling a product or service, you must recognize and accept that 80% or more of your products or services will be new or different in five years. Is that surprising!As an exercise, imagine that you were starting over today. Is there anything that you are doing that, knowing what you now know, you wouldn't get into again today? Imagine that you have no limitations of time, money, experience or resources. If you could do anything new  in your business life, what would you choose? 1: Start With Yourself You have something within that could make you rich,begin with your own talents, your own abilities, your experience, knowledge, interest, background, education and so on. Look carefully at that skill or new set of skills that you can learn and develop,for someone to pay you money in return for that service or product- Look within your own life and work under your own feet, for your own "acres of diamonds."- you posses something deep in you that would help you start a business, you may know how to sing, write -as i do! or can do some neat gardening in your house . If you can answer these questions you are on your way to starting  your own business- What qualities do you have that account for your greatest success in life so far? What personal skills and abilities have gotten you to where you are today? How could you apply those same skills and abilities to starting and building a new business? Hope you were able to find some answers if not all,well if you weren't take a break a coffee break and reflect on these, and let's get talking  2. Identify a Customer Need Many fortunes begin when an individual sees a customer need that is not being satisfied and which their current company has no interest or desire in satisfying. You may not be  working in that company but you may be a customer in that company or firm , this too is an advantage.Sometimes this idea comes as the result of customer inquiries or complaints and so if you are in a company that receives so many complaints from customers it is the best chance on capitalizing on their complains and jumping the line to start your own business either part time or full. From the complaints or what you have encounter as a customer ,decide to start a new business, sometimes on the side, to give these customers what they are asking . There is a great business opportunity staring you in the face, right where you are today. What could it be? What Next? Is your turn Just for laugh! I always want to know what my readers feel after reading my post, so i welcome all comments and suggestions you may find helpful. Feel free to share this on facebook and other social networks and keep in touch as we explore the other steps. Thanks