ihave a problem with a lot of women doing business and have come across that because we developed a building where it was more of shops, and a lot of women in the shop apparently have been given money by their husbands to start business. When I, the landlord would have arrived in the complex in the morning, I would see customers in front of my tenants shops, waiting to buy but no one to attend to them. In some cases, I would call;
“I think there is a client waiting at your shop”
“Awww aunty, I went to drop the kids, am coming, am coming”, she would reply.
Women love to trade, but they don’t necessarily make profitable ventures. For example, a designer is making a dress for me, and she comes to my house about three times just to fit it….so how does she make money going back and forth fitting just one outfit?
Women love ventures, they love to trade, now if you don’t have value increasing or rising when you buy a land, your value is increasing, if you are not increasing value, if you are not making profit, yield, if inflation can kill your profit then you are not in a profitable venture.
Don’t waste your time and hours. So please check what you are doing, if it is not a profitable venture sit yourself down tell yourself, make sure you make it profitable or find something else to do.
Always seek opportunities to increase or add value. I am always seeking value, I am always seeking opportunity, there are few women who are like that. I have a friend, we sit down over tea or coffee, you just finding out where the values are in town and what are the next opportunities and what we should be doing at different time in season, men do this all the time. When you hear the man have gone for drinks, half of the time they are looking for deals.
“Always seek opportunities to increase or add value “
During Obama’s endorsement, a quote took to my heart, “the future is not for us to predict, it is for us to create” it is what you do that creates your financial future, you shouldn’t be sitting here and try to predict. There is nothing to predict. Just get on with the job of creating, you might miss it by bit, a little to the left, another to the right, but you are creating it. You are not just sitting there and thinking when my sheep comes, when the Lord blesses me, just trying to predict it….you need to start creating it .
HERE ARE 7 THINGS YOU CAN DO WITH YOUR MONEY
INVESTMENT MANAGEMENT
should be perceptive of economic opportunities, have a master mind group, talk to somebody who understands and look for economic opportunities, at every time in the world and in history economic opportunities always come, but differently each time. It’s your job to find it and take it.
ASSET ALLOCATION
This deep investment management says when you are buying assets, make sure they are in different categories, so that you don’t put all your eggs in one basket, your only asset cannot be one land in Sango Ota and then it flops, then you don’t have an asset.
Asset allocation says buy assets in different transit some shares some deposit, and probably a small real estate because the world economy take you at different times. So you don’t want when one is really down like real estate in the states now, and you want to cry, but you will be better off if you have other assets that is doing well.
Asset allocation principle is simply saying, have different type of things. There are types of investments; real estate, capture market, and businesses. Be sure of which business you want to buy into, Ask yourself, why am I investing? What is my exit strategy? How do I want to make money? If you don’t have an exit strategy sometimes your investment makes money and you miss the opportunity to take that money out, but if you already have an exit strategy, if this asset goes 25% off am going to take it, you know you wouldn’t be caught in the capture the way everybody was caught in the capital market in Nigeria. We all are caught by the wave so always have an exit strategy, buy assets.
You know our grand mothers, they have assets based on when this child will go into marriage, this is what I would use, that is fantastic exit strategy, even in the olden days they had those kind of strategy. They were buying assets for a reason, to exit at a point. So you need to be clear in your mind when you are buying an asset, what you want use it for.
” We all are caught by the wave so always have an exit strategy, buy assets “
INSURANCE
Insurance is the greatest risk management principle and you need to insure, never mind how much premium you give them, if it happens you would be happy you are insured. Please insure.
You need to be clear in your mind when you are buying an asset
RISK MANAGEMENT
When you are investing, think about your own risk, it depends on who you are, people are different, what they would use the money for might be different from yours, so your exit strategy is your personal decision, financial decisions risk is just the fact that it comes to you, you need to be able to think, why are you investing in this thing, is it of value?
SAVINGS AND ENDOWMENT
Endowments, I just want you to think about children and school, l usually started an endowment for each child as they were born, I said to my first son everything with your endowment has finished in our house, we don’t owe you anymore, so those endowment are good to be timed to when they would finish school, when he will do their own thing.
I always worry when people come to meet me to borrow school fee, the child is 10years old, the parent had a 10 years notice that this child would go to school when he is 10 why? So endowment saving is targeted at what you are going to do.
” usually i started an endowment for each child as they were born, however little “
ESTATE PLANNING
Again women are always talking about estate gaming in terms of a man, he didn’t write a will, where is your own will? As Africans we are afraid, I know that but I can assure you, I have been writing a will for 20 years, am here and nothing if the Lord tarry’s am here, ok. So my attitude is if you have a value, why do you not care what could happen to that value? As long as you have a value, you have a net worth that position, then you should be doing a will or something. Save your loved one’s other pain.
What is the purpose of wealth? Women shy away from accepting the fact that they actually want wealth, but what do we do with such wealth, spend so much money on over priced things just because it is a designer or it is in vogue and every one else you know is buying it. You know and if you are not careful this attitude, this pre conceived pretenses, because we actually like spending money, these does not help, because then we don’t stand up to be counted when necessary.
THE LEVERAGE OF GIVING
In my experience, one of the biggest leverage in making money is giving. I can not deny the fact that almost every time that I move up a ladder in terms of money, is because I have just done some focal giving. Giving is just not church, giving is that your mother in law that you looked after, giving is a friend that needed help at that point, giving is that little child that you paid her exam fees, that neighbors child you supported to complete her emergency hospital bill.
Give and you are bound to be blessed!
