CHEMISTRY OF CASH INFLOW (2)
….ALCHEMY FOR CASH INFLOW.
By OLABINTAN OLATUNJI.
Alchemy, a word coined in the 14th century means “transforming base metal into gold”. In this context, we are going to be itemizing and analyzing ways you can transform resources into money-spinners that will last your lifetime and even generations after now if basic ethics is sustained.
1.IDENTIFY YOUR CORE : The first step in generating a sustainable cash inflow is to first identify and stay with your core . Without the core, there can’t be a fore or base for creating an investment portfolio.There must be what I called an “investment locomotive” which will pull a chain of investment portfolio that will guarantee sustainable cash inflow. Often, our core is what we are naturally gifted for. The journey to financial freedom starts with this vital step. Many go about n cycles loosing vital resources because they have not taken time to identify their core resource generator. When you start off with your core. Its like planting a seed that will get rooted and later grow to produce branches for cash flow. Identifying your core and making it your starting point will help you to grow naturally with ease-another reason why its important you identify your core is that it helps to determine the chain of investment to embark upon. You must make chains of investment that will not allow too much diversity. Your investment drive must be composite in nature, nurturing and strengthening the core. For instance, if your core is writing books your investment chain can range from Publishing houses to Bookstores, Seminars etc. However with time, after securing essential managerial skills and structural support , you can diversify into unfamiliar territories and secure streams of income. When you identify your core, you will never clamour to make a living.
2.HAVE AN EXPANSION MENTALITY : Whatever your starting point may be, always have expansion goals. Have a timetable of where you want to be in future. Most organizations have short terms plan while others believe in long term plans. Whatever it is, you must have a vision for expanding your organization; this will help you to be consciously aware of the necessity for growth. Frank Nneji started his business in 1984 with only N750,OO which was his NYSC allowance but today, his organization has grown to become a multi million naira investment due to aggressive personal commitment to growth and expansion drive. He now runs a successful cross country transport business ABC Transport Ltd and a host of other successful businesses. You can start from any point but to remain at the point at which you start after a lengthy period of time can be considered to be a capital sin in entrepreneurship. Many years back, I received a golden advice from my mother, she said; “always have a vision that is bigger than your earnings.; That simple advice is the bedrock of every expansion process. To earn without a matching vision for expansion is to create holes in your ‘earning basket’. Always think of the next project to embark on ,invest rapidly in the latest technology that can enhance your productivity and efficient service delivery. Never allow yourself to be technologically lukewarm. Failure to expand denies growth and subsequently stunt financial increase. However , it’s also important to note that you should not expand too rapidly thereby stretching yourself beyond your capability but you should grow your business steadfastly in adequate response to your managerial capacity and perfect understanding of the business terrain. Every financial failure is as a result of lack in financial understanding. Creating wealth is an art and it involves procedure. When you follow these simple steps you will realize that making money is an easy and achievable process.
CHEMISTRY OF CASH INFLOW (2)