Attaining Financial Freedom
A lot of people dream about financial freedom without setting definite goals backed by doable action plans. A plan is the bridge to your dreams.
Becoming an investor is not a rocket science. It starts from investing time in financial education and personal development.
There are many routes to financial freedom. The fastest and surest route is owning a business, and minding your business. When the subject of starting a business crops up, most folks freeze. The first thought that comes to mind are excuses upon excuses. Excuses why it is not possible. They have no capital, the have no business ideas, or so and so tried and failed, what guarantee is there that they will not suffer a similar fate, afterall nine out of ten start up businesses fail, and since they belong to the masses, they readily identify with the ninety percent that failed, not the ten percent that made it.
If you think you cant, you are right, you cannot. It is all in the mind. Becoming rich through the stock market is posibble and time tested. For this to happen, you need patience, lots of it. In buying shares, you are handing over control of your money to someone else, and pray for the best.
Look at the story of Ecobank and Spring Bank. A tale of two banks that came to the market during the bak consolidation exercise of 2005. While investors in Ecobank are smiling cheek to cheek, counting the returns on their investment, investors in Spring Bank are praying for return of their investment. The point is that when you hand the money over, what happens thereafter is out of your control. All that you can do from that point on is watch and pray.
Imagine you put that money into your business. You decide where it goes, and how it is spent. You know the health of the company as an insider, and know who to hire and who to fire to get things moving. Apart from God himself, you are in control, and decide whether to consolidate, expand, or sell off and move one. You are the board and shareholder. You decide whether to give dividend, bonus shares, or retain profits. Based on your drive and skill, you can determine the earnings and profit growth by the right application of skill, capital and manpower.
As a shareholder of a big company, you can only follow the share price in the pages of newspapers, and if the financial year was good, pray that the board will be generous..
The route to financial freedom is through taking control of your financial destiny. Have a short term, mid term and long term plans. Have a goal and target, and map out a plan on how to achieve it. As the year goes by, review your performance, and track planned versus actual performance. If there is a slippage, find out what went wrong, take corrective actions and get back on track. Sometimes, based on reality, you may have to revise your projections to more realistic estimate.
The keyword is focus. Have an idea where you are going, and stay focused. Every small victory along the way will spur you on, and before long, what seemed like a dream becomes more and more real as the day goes by.
There are many routes to financial freedom. You have to find our which one suits you best. At the core of it if finding out what your core compentencies/talents are, and developing it to expert level. A man diligent in his work will not stand before mere men. If you are the best in what you do, the world will make a beaten path to your door. It is a matter of time.
Stop dreaming and start setting goals, and mapping out a plan to achieve them. This is the only way that dreams come true
Galleria Finance Team
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