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.
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.
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