Friday, 20 January 2017

Golden Rules for Making Money By Bayo Ogunmupe

       The foundation of good fortune is physical wellness. It is the substratum of wealth which is the basis of happiness without which you cannot accumulate wealth. Each of us is unique and naturally endowed with skills and competences which can make us excel in life. However, unless a man enters a career intended for him by nature and best suited to his peculiar genius, he cannot become great. Therefore, the possession of the perfect knowledge of your business is essential for success.
       In a nutshell, there are no shortcuts to wealth; you must follow the right5 vocation, persevere with impeccable integrity and a cinch for self promotion before you can attain greatness. The proponent of this art of money getting and the greatest showman of all time was Phineas Taylor Barnum. Famous for his circuses and museums, Barnum was a master of marketing whose ideas are still studied by marketers till today. The Golden Rules of Making Money is a recipe for prosperity. Consistent with the vision of the great marketer, the book title is a slight exaggeration of the content.
       Indeed, there are  no detailed ideas or techniques for getting rich. Instead, Barnum provides 20 rules for personal success and the development of good character which makes your financial rise inevitable. Barnum draws attention to something that is obvious on the face of it, yet ever so often overlooked: You need good health in order to be successful. The pursuit of wealth requires wellness. You cannot ignore the laws of good health and be successful.
       To make money requires clean brain, you must lay your plans with reflection and forethought. If a person is inebriated, his brain is muddled, he will not be able to carry out his business successfully. How many good opportunities have passed, never to return; while a man was sipping a social glass with his friends?
       With the phrase “wine is a mocker,” Barnum notes the way alcohol flatters the drinker into feeling omnipotent, then drains him of energy to pursue his goals. Thus, the first rule of success is choosing  the right career in the right location. In a Nigeria that has more land than the people; anyone who properly applies himself can make money easily. There is room for  a good man in any location.
       Two, sheer persistence is often the difference between success and failure. We all experience horrors sometimes, but you must be determined to shake them off and keep your eyes on your goals. Moreover, how many have  almost reached the goal of their ambition, but losing faith in themselves, have relaxed and the golden prize has been lost forever.
       Do not wait for something to turn up, people who do often  turn up in a doss house or jail. Remember Solomon’s biblical aphorism: He becomes poor that dealeth with a slack hand; but the hand of the diligent maketh rich. A man acquires a fortune by doing his business thoroughly, while his neighbor remains poor for life because he only does his own half-heartedly.
        Three, stick to your particular business, but master it inside out. Many people scatter their powers when dedication to a single task would have seen them succeed. A constant hammering on one nail will generally drive it home at last. When focused on one goal, you soon see new ways it can be improved and easily achieved.
       With many irons in the fire, many fortunes have passed people by because of lack of concentration and depth. With the maxim of the famous Rothschild banking family: “Be both cautious and bold.”Simply put, it means being careful in making your plans, but once made, do not hold anything back in their execution.
       Four, apply the lessons of your experience.  Do not depend on other people’s opinion, capital on counsel. Easy money will hold you back. It is easy to borrow to start a business but money is good for nothing  unless you know its value by experience. The American tycoon John Jacob Astor said that it was more difficult for him to make his first thousand dollars than it was to accrue all his succeeding millions. The lessons learned  in creating the initial capital: self denial, industry, perseverance and patience were priceless. Never borrow money, but if you get trusted for anything , let it be for raw materials because that will help you pay it back.
       Beware of debt incurred for food, drink or clothing for money is a great servant but a terrible master. And finally, if you have produced something good, make sure  that the whole world knows about it.

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