Master of Money Management

Wealthy people don’t dream-they do!

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Most experts will agree that the most common attribute of wealthy successful individuals is the fact that they have plans dreams and goals that they work on. All this new age talk about the law of attraction is fine, at least it makes you think about what you want. You can wish for a Ferrari until Zuma pays back the money for his chicken coops but it will not materialise in your garage until you get off your derriere and make it happen. The law of attraction is nothing without the law of action.

Most people are simply not prepared to put the effort in to achieve their goals. Have a look at your social and work circles.  How many people do you know that have declared their goals and dreams but have done nothing to implement them? Perhaps one in a hundred people you know actually do something about a goal. Most of us are masters of lip service.

Unfortunately we are not properly exposed the art of goal setting. We may be asked to do it as an academic exercise in university, or as a part of management training in the corporate arena but the science behind achieving goals is often ignored and it becomes an exercise in futility.

A goal is very different to a wish. A person with a goal has clarity of thought and the actions needed to achieve it are well defined and will generally result in an outcome. A wish however, just swirls around in your head taunting you about what could be.

Fear of failure is a big reason why people may not set goals for themselves.  If they don’t announce a lofty goals then can’t be criticized for not achieving them.

There is a catch 22 to goal setting, make the goal to big and you set yourself up for failure, make it too small and you never really achieve anything. This is a form of self-sabotage. You may end up going through life functioning at levels that are way below your capability.

One trick to ensure this does not happen is to keep your goals to yourself. Don’t set yourself up. Rather achieve them quietly when you start out and let people find out for themselves when the results start to show.

 Wealthy people are smart shoppers.

Have you ever noticed that wealth people can be a bit ‘scroogy”? Well they did not get there by wasting their money. You will find that wealthy people do their homework and get the best deals where ever they go.

Rich have climbed to the top because they have honed their negotiating skills. They never pay full price for anything. When they do deals in business or their in their private capacities they will muster all resources to ensure that they get the best price, whether its for a table cloth at a flea market or an ocean going yacht. They have built up the confidence to do this and are not at all embarrassed about their actions.

Wealthy people can account for every cent.

Whether they are running a home budget or a multi-million rand conglomerate , they can account for all their expenditure. Sure they may have someone crunching numbers for them but they keep their fingers on the pulse. Keep an eye on your expenses, thousands of rands get frittered away because you are not paying attention. This is cash you could use to build your business or get out of debt.

Wealthy people know how to work their networks.

Social and business networks are critical to growing your wealth. Register on the popular networks and keep them current and engaging. Send out notifications when you launch new business ideas or when you are looking for help. You will be amazed at what comes back to you.

Wealthy people treat others with respect.

There is a saying “be nice to people on your way up because you might meet them on your way down”. Treat everyone that you meet with respect and interest. You never know who you are sitting next to on the plane or killing time with at a conference break. Chance meetings can yield massive opportunities.

Wealthy people focus on their goals.

One huge factor influencing success is focus. If you give your time and effort to a myriad of small endeavours you never really get good at any of them.  Focus on one thing, become a master and an expert. Once you have achieved your goal then you can look at other projects.

Wealthy people are self assured.

They are rarely showy or put on an act to impress people. They know who they are and retain their humility. Don’t try to be someone you are not.  People will move away when they are presented with a showy loud mouthed fake. Act naturally and believe that you have something to offer everyone you come into contact with, modestly.

 Wealthy people know how leverage off other businesses.

There are many businesses that compliment and can cross market each other. So for example if you are a real estate agent you could keep a handyman busy for months. On the flip side he could be doing renovations in homes that are being prepared for sale. Keeping an informal arrangement can benefit you both. The web is a brilliant way to leverage your business ideas.

Wealthy people are disciplined

They don’t get rich overnight. They constantly revise and tune their plans and put in enormous amounts of efforts to achieve their goals. They do not sit on the sofa watching soapies wishing they could do better, they get up and do things, The average person wastes 4 hours a day in front of the TV, imaging what could be accomplished if the time was used productively. I am almost 100 % convinced that wealthy people do no watch much TV, they are busy living the lives many people vicariously live through their screens  Digest these habits and make them a part of you just like breathing.  It won’t be long till you are living the dream of exceptionally wealthy people.

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