True and lasting wealth doesn’t come from having a good job or earning a lot of money, because loads of people are presently broke who were once in this state. I have come to realize that we can only become wealthy when our money begins to work on our behalf, and when what we’re selling is much more than what we’re buying. TopNaija.ng brings you five key principles to sustainable wealth. Enjoy!
Add Exceptional Value
To begin with, it is very crucial that you settle this in your mind once and for all; wealth is not about spending money, but about making it. And those who make money are those who add value by creating products and services. The key to creating wealth is simple. It is called “adding value.” Successful and wealthy people are those who are always looking for ways to add value in some way to a person, a company, a nation, a product or a service. They seek to make life better by adding value, they seek to maximize the opportunities in every problem, and you can join them by replicating the same thing.
Do It Better
Truth is, nothing is in its perfect state of existence; there are always loopholes in the seemingly perfect system, and your duty is to locate and fill it. Anything that looks great to you today can be re-invented in a better way, and we’ve seen this trend in the automobile industry. Whatever product or service you’re presently or intend to render can be rendered in a better way, and this is the only way to gain an edge over your competitors, regardless of your field. All you need do is find a way of offering your product or service in a more exceptional way than others are presently doing. This is a key business secret that can make a world of difference to you.
A different method to creatively add value is to buy something in one place at one price and then make it available in another place for another price. For example, buying a product or service manufactured in Dubai or Japan, importing it to Nigeria and making it available to people to whom it was not available before, is a way of adding value for which you can charge a higher price, and they will be very glad to pay you.
Improve the Standards
All importation and distribution aims basically at adding value. Performing a service that enhances the life or work of another person adds value. A dentist who takes away pain is adding value. An accountant who saves a client money on taxes is adding or actually creating value. A salesperson who introduces a new product or service to a customer that helps that customer in some way is adding value. All financial success, especially business success, is based on adding value. It is simply based on finding a need and filling the need in a creative way. Period!
How All Fortunes Are Made
Great fortunes and wealth is created by adding value. Whenever you see an opportunity to give people what they want at a price greater than it costs you to produce that product or service, you see an opportunity to make a profit, build a business and begin moving toward financial success and wealth.
I’ll leave you with this simple thought that struck me recently; God made man and man cannot stop God; man made money so money shouldn’t stop man. If man cannot stop God who created it, then money shouldn’t stop man who made it! Never blame your failure on lack of money. If money is what you need to realize your dreams, then make money by rendering a service that people will appreciate, and they will be very glad to pay you.
To your good success!