Rules of Wealth Creation: Wealth Creation-Rule 1 ( Be Ready to Learn)

Rules of Wealth  Creation

Having introduced us to the concept of wealth creation it is therefore imperative to share with us some basic rules that have the potency of enabling us to create wealth. Once these rules are applied gradually with persistency and consistency,

you can undoubtably create wealth for yourself, family, community or state, country and even that world at large.

  

Wealth Creation-Rule 1 ( Be Ready to Learn)

To create wealth you must be ready to learn (sourcing for information).

Back then while I was growing up, my business studies tutor made me to understand that the purpose of every business venture is to make profit. In order to maximize profit one must be able to first know and understand the factors of production which are land, labour, capital and entrepreneur. Among these four factors, the later is the most important because without the entrepreneur all the other factors of production will be dormant. It is the entrepreneur that source for all the other three factors and so he puts all the other three factors into action. Land is an asset itself that keeps appreciating with time based on its location.

The four factors of production are synergistic i.e they are all dependent on each other. This is because once the entrepreneur (the person who wants to create wealth) has an idea he raises the needed capital with which he acquires land and pay for labour. Once this has been done properly he ( the entrepreneur) then wait for his return on investment (ROI) which  is profit. 

The emphasis on these factors is necessary because without sufficient information and knowledge  on them, wealth creation becomes practically unachievable . Thus, the potential wealth  creator must be ready to learn and understand each of these factors inorder for him or her to create wealth. Knowledge they say is power and without information there won’t be transformation and reformation which are the bedrock on which wealth creation stand. 

Before I forget, let may say that  due to technological advancement, despite the importance of land, the internet can as well be substituted for land since the world is now becoming a global village due to the power of the internet. This is why we now have concepts like online and offline businesses. Even most of the offline businesses  are now coming online. Thus, the importance of the internet cannot be overemphasized.

Food for Thought: "Readers and learners are leaderes and earners respectively" .

Being ready to learn is one rules of creating wealth.What do you think about this? Leave your Comments below.