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12 Life- Altering Financial Secrets From Top Wealth Creators

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These entrepreneurs make millions of dollars, but they wouldn’t be worth what they are now without these financial strategies. We asked them for the best piece of financial advice they had to offer to another entrepreneur.

Here’s what they said.
1. Get super rich.

Grant Cardone

You don’t need to just get rich. You need to get super rich. Entrepreneurs need to stop thinking about $80,000 or $800,000. Think millions—north of $20 million. The definition of entrepreneur is someone who puts their money at risk to make more money. Entrepreneurs need to redefine what “more money” means. —Grant Cardone, top sales expert who has built a $500 million real estate empire, NYT bestselling author of Be Obsessed or Be Average, and host of The Cardone Zone; follow Grant on Facebook or YouTube
2. Look for a 5X return on everything.

Tim Draper

Some investors have so much money to invest that they push their entrepreneurs to spend the money to “scale.” My advice: raise their money, but don’t use it unless you know that every dollar spent brings in five. If you aren’t spending for at least a 5X return, you should be saving for a rainy day. —Tim Draper, founding partner of DFJ
3. Spend money to make money.

Money is made to be spent. Don’t desperately try to hold onto it like it’s scarce, otherwise you’ll miss opportunities that can change your $1 into $10. Pick your best shots, plunk down your money and take a chance on it. Don’t hang onto too much money. It has very limited utility just sitting in a bank account. Spend it and see how far it can take you! —Barbara Corcoran, founder of The Corcoran Group and one of the Sharks on Shark Tank
4. Buy and hold.

Mentally divide your financial strategy into two parts: positive cash flow and owning long-term wealth-creating assets. Don’t mix them together like many people do.

To create positive cash flow, you must have a skill that’s relatively rare and in-demand. Positive monthly cash flow doesn’t have to be that much; it just needs to be enough to survive and not stress you out. Then you can be patient with your long-term wealth-creating assets because you have the cash flow.

For example, a lot of people buy real estate just to “flip” the properties, which is fine if your full-time business is the real estate flipping game. But if you ask Warren Buffett, the real way to create long-term wealth in real estate and the stock market is via a “buy and hold” strategy. You buy solid businesses and real estate with solid rentals, hold them for a long time and let compound interest (which Albert Einstein said is the eighth wonder of the world) work on your behalf. —Tai Lopez, investor and advisor to many multimillion-dollar businesses who has built an eight-figure online empire; connect with Tai on Facebook or Snapchat
5. Invest early.

Com Mirza

Learn to invest early. Budget a portion of your income to automatically be deposited into an investment account with the lowest monthly fees. Once the account pools up to make your first few investments, get started right away. Most entrepreneurs make good money but never put money to work for them. I only work for money to use it to acquire assets and have the money work tirelessly for me. Passive income is the only way to being wealthy. High earnings won’t change the future, only passive income with consistent growth eventually offsets all your living costs and gives you a high quality of life. — Com Mirza, CEO of Fitness Expo Dubai and “The $500 Million Man”; failed in eight companies back-to-back and today runs a nine-figure empire with more than 600 employees
6. Embrace change.

If you don’t change, you won’t survive the ever-changing business world. That doesn’t just include new technology or a new advertising model, but also the business model, which has always been the core of failures in businesses. Kodak failed to evolve, Betamax failed to evolve. Inevitably they all fall down. —Jay Georgi, founder of Nadvia and operations / management / profits-retention coach
7. Build from the ground up.

Craig Lack

Success has a formula: you must focus on what is in front of you. Human nature is immutable and we all are programmed to avoid a loss. It’s common to fear the unknown future of entrepreneurship. My focus strategy is to build from the ground up. As the son of a contractor, you learn that the building is only as strong as the foundation. In my practice, delivering solutions that directly save individual employees thousands of dollars creates an indirect savings of millions of dollars for the organization. We benefit everyone in the organization indirectly by focusing on how to improve the financial well-being of individual employees and their families. —Craig Lack, CEO of ENERGI and creator of Performance Based Health Plans®
8. Invest in people.

Hire the best talent you can find for your company, who will become extensions of you. It’s OK to invest in good salaries if that’s what it takes to get the right team player. Invest in people and don’t think small. You’ll only grow with the right people. To be the best, you must hire and nurture the best. —Manny Khoshbin, president of The Khoshbin Company and author of Contrarian PlayBook; arrived in America at 14 nearly homeless and now has a nine-figure net worth; follow Manny’s incredible adventures on Instagram
9. Know your numbers.

Roy McDonald

Entrepreneurs are naturally enthusiastic and see the very best possible outcome. They don’t need encouragement. However, they don’t often know the numbers. They’re so focused on their outcome that they don’t see the lag time and the cash flows required to maintain the process. They also don’t bank the money, but spend it before they have earned it. Have a really good accounts team that gives accurate, timely, effective information so you can make great decisions, create the leadership required as an entrepreneur and, ultimately, true and consistent success. —Roy McDonald, founder and CEO of OneLife
10. Cash flow is king.

Ad?le McLay

Turnover is vanity. Profit is sanity. Cash flow is reality. Focus on profitability and remember that cash flow is the lifeblood of business. Have strong cash management strategies in place at all times, including: minimizing cash tied up in the operating cycle (receivables outstanding and inventory held); increasing gross margins where possible; negotiating extended payment terms; holding cash reserves; and having bank or other credit facilities available for times of cash flow crisis. —Adèle McLay, business growth consultant, author, and speaker
11. Be positive about your finances.

Spend as much time as you can feeling like you have all the money you need or desire to take your business to the next level. Be positive about your finances. Like Roy said, find a good accountant and bookkeeper—someone who can speak your language. Finance has a different vocabulary, but a good accountant will be able to communicate with you so that you understand. — Katrina Palandri, cofounder and CFO of AEG Investments
12. Outsource with confidence.

Jon Braddock

Obtain definitive timelines and firm costs when you are outsourcing work. Determine who is responsible for overages and what the remedies are for missing the target you establish. I have found that it is so much better to have an understanding now, than a misunderstanding later. — Jon Braddock, founder and CEO of My Life & Wishes

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Entertainment

Entertainers have higher grace, Mofe Duncan says as he warns trolls

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Mofe Duncan

Actor Mofe Duncan has warned Nigerians against being rude to entertainers.

He went on to state that there is a “higher grace attached to” entertainers.

 

He called out people who derive joy in being rude to celebrities, adding that they have no idea what it’s like to walk in their shoes.

 

Mofe Duncan wrote:

 

All you disrespectful lil shits that have no home training that feel that you can be rude to celebrities because you have the privilege of being on Instagram, una dey mad o! There is a higher grace attached to people who bring joy and happiness in one way or another to others, (especially via music and movies) and some people just decide they can repay such godly acts with rudeness and disrespect, una dey mad o! • Some of you have no idea what it is to walk in our shoes, we are not perfect, we are human, many love us and as thus many pray for us, but there are some of you that curse us, una dey mad o! • We bleed like regular humans, we have bad days like regular humans, we sweat like regular humans, we worked hard to get to where we are and some people just derive joy from pulling us down, una dey mad o! • Agreed, some celebrities misbehave and some deserve to be reminded that they are human, but ffs (for f*ck sake)… he who is without sin, cast the first stone! …no? …noone? …UNA DEY MAD O!

Mofe Duncan post

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AKA congratulates Burna Boy, Nigerians come after him

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AKA congratulates Burna Boy, Nigerians come after him

Burna Boy’s concert in South Africa was cancelled, AKA and South Africans took to Twitter to gloat. Well, Nigerians are having the last laugh with Burna Boy being nominated for the Grammys.

AKA has grudgingly congratulated Burna Boy on his Grammy nomination. The South African rapper, who has been involved in a Twitter feud with Burna Boy, was forced to congratulate the Nigerian singer when a Twitter user tweeted at him and asked what he had to say about Burna’s Grammy nomination.

 

“Congratulations… obviously,” Aka replied.

AKA tweet

Nigerians quickly replied to gloat. Some told him he had no choice but to congratulate Burna. Others went ahead to list out Burna’s recent achievements.

See some tweets below;

AKA/Burna Boy Tweets

AKA/Burna Boy Tweets

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Davido’s babymamas come for each other over plastic surgery claims

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Davido's babymama with children

While Davido is celebrating his birthday and the forthcoming release of his sophomore album ‘A Good Time‘ his babymamas are on social media dishing out subtle shades.

Davido’s babymamas, Sophia Momodu and Amanda seem to be throwing shades at each other over plastic surgery.

Sophia Momodu, while responding to comments on her ‘new body’ stated that she hasn’t gotten fillers or plastic surgery.

12 Life- Altering Financial Secrets From Top Wealth Creators

Amanda responded with what looks like a shade. See the post below;

12 Life- Altering Financial Secrets From Top Wealth Creators

 

 

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Entertainment

DJ Cuppy acquires lion named after her

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DJ Cuppy lion

DJ Cuppy has reportedly acquired a lion cub named after her in Dubai, United Arab Emirates.

The ever-cheerful DJ took to social media to share the ‘good news’ as she was videoed feeding the lion. She wrote;

Introducing the world to “Cuppy” the newest baby lion named after ME at #FamePark Dubai!!! I’ve always wanted to be a mother! #MamaCups

With Cuppy’s recent acquisition, she has joined Runtown who also owns a lion cub.

However, many fans are fascinated and have applauded her courage to acquire a ‘baby lion’.

Cuppy mentioned in her post that she has always urged to be a mother and that influenced her decision to acquire a cub

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Entertainment

Burna boy’s African Giant album nominated for Grammy Award

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Burna boy's African Giant album nominated for Grammy

Congratulations are in order as Burna Boy has been nominated for the 62nd Grammy Awards.

The African Giant’s nomination was announced in a statement on the Grammy Awards’ website on Wednesday.

Burna Boy’s  African Giant album nominated for Grammy in the Best World Music Album category.

The category, according to the organisers, is for albums containing at least 51 per cent playing time of new vocal or instrumental world music recordings.

Other contenders in the category are Altin Gün; Bokanté and Metropole Orkest; Nathalie Joachim and Spektral Quartet; and Angelique Kidjo.

The Best World Album is one of the 84 categories being contested by artistes from different parts of the world.

The winner will be announced at an event slated for Sunday, January 26, 2020.

Nigerians who had been nominated in the category in the past included Seun Anikulapo-Kuti, Femi Anikulapo-Kuti and King Sunny Ade.

Meanwhile, many Nigerian artistes have taken to the social media page to congratulate Ogulu for his nomination for the prestigious award.

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NEWS

Falana to DSS: You are not authorized to verify Sowore’s sureties

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Falana to DSS: You are not authorized to verify Sowore’s sureties

The case between DSS and #RevolutionNow Convener Omoyele Sowore continues to drag on. The counsel to Sowore, Femi Falana has once again called out the Department of State Service (DSS).

Femi Falana spoke on the continued detention of Sowore by the DSS despite receiving a court order for his release.

While the Secret Police is insisting on verifying the identities of Sowore’s sureties before releasing him, Falana in a new statement stated that they were not authorized to carry out or demand such.

 

“Pursuant to the verification of the sureties of Omoyele Sowore and Olawale Bakare  by the Federal High Court,  the trial judge, the Honourable Justice Ifeoma Ojukwu made an order on November 6, 2019  for the release of the defendants from the custody of the DSS,” Falana said in a statement.

“The Court Order has not authorised the DSS to approve the sureties before releasing Sowore and Bakare from custody.”

 

See the court order below;

Sowore's court order

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NEWS

DPO kidnapped by gunmen in Adamawa

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DPO kidnapped by gunmen in Adamawa

A Divisional Police Officer in charge of Mubi North, Adamawa State has been kidnapped by gunmen.

The victim identified as Ahijo Mujeli was kidnapped on Tuesday night near the Mubi city gate.

The Adamawa State Police Command confirmed the kidnap through its spokesperson, DSP Suleiman Nguroje.

Nguroje said,

“He was driving in his car around 6:30pm along Mubi-Maraba Road near the city gate when he was abducted.

“There were gunshots around the area. When our men arrived, they met an empty car identified as his.”

He added that the anti-kidnapping unit and Intelligence Response Team of the Inspector-General of Police had swung into action in a bid to apprehend the kidnappers.

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NEWS

Lagos commissioner finally gives reason for heavy traffic in the state

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Lagos heavy traffic

Lagos state commissioner for information, Gbenga Omotoso has given reasons for the current heavy traffic situation which Lagosians are grappling with.

The commissioner revealed that the ongoing repair of roads has worsened the traffic situation.

In a statement on Wednesday, Omotoso said since the beginning of the massive road repairs under “Operation 116” across the state, the traffic has been heavy.

He said the government is aware of the discomfort commuters and motorists had been experiencing, adding that “relevant agencies” had been directed to review traffic control and regulation policies toward identifying long-lasting solutions to the gridlocks.

Omotoso added that the daily influx of people from other parts of Nigeria contributes to the persistent traffic across the state.

He advised motorists to use alternative routes so as to ease the time and stress of staying in traffic.

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NEWS

Trump implicated by top US diplomat in explosive impeachment testimony

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Trump impeachment

As impeachment proceedings on President Donald Trump continue, a senior US diplomat has directly implicated him in a scheme to force Ukraine to probe a political rival.

On Wednesday, Gordon Sondland, the US envoy to the European Union and a Trump ally in a bombshell testimony to a televised impeachment hearing told lawmakers he followed Trump’s orders in seeking a “quid pro quo” deal for Ukraine to probe Democrat Joe Biden in exchange for a White House summit.

The US leader said Trump directed him and other diplomats to work with his personal lawyer Giuliani, who he said mounted a pressure campaign on the government of Ukraine’s new president, Volodymyr Zelensky.

Giuliani’s demands, he said, were for Kiev to investigate Biden and to probe a conspiracy theory, espoused by Trump, that Ukraine helped Democrats against him in 2016.

Far from being a “rogue” operation outside normal US diplomatic channels, Sondland told the hearing top officials in the White House and State Department — including Secretary of State Mike Pompeo — were kept constantly informed.

“We followed the president’s orders,” in working with Giuliani, he testified before the House Intelligence Committee.

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African Music

Stonebwoy – Big Boss

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[Music] Stonebwoy – Big Boss

Ghanaian Afropop, dancehall and reggae artiste, “Stonebwoy” releases this new jam tagged Big Boss ahead of his ashaiman to the world concert.

production credit goes to Streetbeatz.

Download, listen and share your thoughts below!!!

DOWNLOAD MP3

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