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« Four Quadrants of Wealth | Main | Personal Finance 101: A Young Person’s Guide to Saving, Tips to Help Young Adults Plan Now for Their Financial Future »

January 22, 2007


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Hi! to every one, let me present my own version of attaining and having Eight Keys to Financial Security:
Always provide several avenues and ways to earn more income then save it in a bank and then invest it in profitable ventures would provide one the financial comfort and comfortable living. Either having two or more of those above cited would provide a leeway for you to have a nest of golden eggs that would insure your present and future financial security. Personally, I found investing in mutual funds and the stock markets to be an exciting financial experience. Remember always not to incline in becoming rich instantly but always buy time to make your investments grow. The time line for investing in stocks and mutual funds is five years. Anything below that period of time is purely speculative and risky. Financial security and success is in the journey and not in its destination. The other good thing of investing in stocks is the privilege of gaining part ownership of corporations that you bought which will warrant you - stock and cash dividends and the right to annual stockholder's meeting plus the option to vote for ranks in the corporations.
2. ALWAYS EXERCISE INTEGRITY IN EVERY FINANCIAL DEALS THAT YOU TRANSACT TO ASSURE FINANCIAL SECURITY. The cornerstone stone of every successful financial institutions is the exercise and the application of integrity in its financial transactions and deals. It is the only link between you and the stakeholders, remove it and all the good achievements and financial success of every business will die a natural death. China has recognized the importance of putting integrity in its business deals when they echoed that: " Glass, China and reputation once broken is never well mended." Integrity is the hallmark of great western business success and institutions. Integrity in business deals is more precious than gold, it is above and beyond anything else.
3. IN THE PRESENT AND MODERN BUSINESS WORLD LEVERAGE THE USE OF INFORMATION AND TECHNOLOGY TO ENSURE FINANCIAL STABILITY AND ADVANCEMENT. To keep phase with the ultra and modern business world we can no longer rely merely on the old fashion way of transacting business. In this very moment, millions and billions of dollars are transacted using electronic means and so to compete and maintain financial security we must keep with the modern trends of computers and electronic gadgets.The only way to remain the same is to change. The age of tiresome using of carbon copies is already a foregone story, with one click of the mouse hundreds of copies in the computers could be replicated. The age of computers and electronic means of transacting business has already arrived. To insure our financial success and security more so with our business data, the use of modern technology could no longer be discounted. Communications could be done instantly with the use of the e-mails and at a lesser cost. Leverage the use of computers and technology to insure financial success and security is now the business trends of the modern business world.
4. IF YOU WANT FINANCIAL SECURITY THERE IS THIS SUREST FORMULA - PROVIDE A GREATER VALUE TO THE PRODUCTS, IDEAS OR SERVICES THAT YOU INTEND TO SELL AND MONEY WILL JUST FOLLOW. In business there is only one word that makes its machinery move and that is the exchange of values. Nothing in business that can be transacted without the essence of value. You name it from cars, to airplanes, to hotels, real estates, capital gains, diamond rings they could only be transacted because of the essence of values. They say that diamonds are women's best friends but you can never have it without parting cash. So one value was received that is the diamond, the other value parted with is the millions of dollar cash that you have to pay for it. It is therefore imperative that in order to have financial security, success and stability provide greater values to the product, ideas or services to your stakeholders more than the money that they are willing to part with so that they will be convinced to buy your products or services.
5. TO INSURE FINANCIAL SECURITY ALWAYS FOLLOW THE MIDAS TOUCH OF ONLY SPENDING YOUR RESOURCES WHEN IT WILL PROVIDE YOU WITH MORE INCOMES OR ASSET PRODUCING INCOMES FOR YOUR BUSINESS. If you will be confronted with the decision whether to spend or not always ask the question: Will these expenses provide greater growth or increase my income or enhance the interest of my business? if the the answer is no then fore go the expenses. In business remember to always interlink your transactions with your process if it is irrelevant then have nothing to do with it.
6. TO ENSURE FINANCIAL SECURITY YOU HAVE TO BE READY AND ANTICIPATE WITH THE INHERENT CHARACTERISTICS OF MANAGING ONES BUSINESS AND THEY ARE BUSINESS PROBLEMS, DEPRESSIONS,RISKS, DANGERS, INTRICACIES, LABOR UNREST, COMPETITIONS, SCAMS AND COMPLEXITIES. Unto a great warrior, if you want to succeed and emerge to be victorious in the field of business you have to be aware on the above cited inherent characteristics of business. Great businessmen have anticipated all these risks and dangers and once they will be confronted with these business scenarios they are well prepared educationally and empirically. Millionaires usually send their children to highly recognized international schools in the west to prepare their children for ascendancy and hierarchy in dealing with the inherent characteristics of business. Remember the greater is the risk , the greater is the profit and reward.
7. TO ENSURE BUSINESS SECURITY TREAT EVERY TRANSACTION AS IF YOU ARE WOOING A LOVER AND HENCE YOU HAVE TO TAILOR THE NEEDS OF YOUR STAKEHOLDERS ACCORDINGLY AND THE IDEA THAT THE CUSTOMER IS ALWAYS RIGHT IS STILL NOBLE AND BEHOLDEN. To ensure financial security and long lasting stakeholders adjust to their needs and desires. If you want a successful business, make your customers feel at home. Never transact a business and treat your would be customers like robots. Customers are human beings, woo them like a lover and chase them until you will win their hearts. Remember the world loves a lover. In the west, business firms last long because they tailor to the needs and likes of their customers making and fostering loyalty from them.
8. CREATE COMPLEMENTARY BUSINESS FIRMS THAT YOU OWN TO AVOID WASTAGE AND DETERMINE WHICH IS CHEAPER TO LEASE OR BUY THEN GO FOR IT. If you intend to put up diversified business you must see to it that they complement with each other. If you engage in the manufacture of textiles and clothing materials then the best complementary business that you can have is fashion design of dress and tailoring. Why is this so? because in the event that you have a surplus textile materials that were not bought then you can ship this to your alternative business of fashion design and tailoring. In the process, there will be no wastage of finished materials produced. If you are engaged in agricultural plantations and crops then the complementary business would be restaurants or raising of hogs. If you cannot dispose all your agricultural products then you can tune it to the restaurant business for people to consume or simply feed your hogs for profitable sale and profits. The other way to ensure financial security is the day to day decision whether to lease or buy a product. If leasing would be cheaper and will be used only once then it will be better to lease it to avoid too much cost. If, however the products will be used for a longer period and it is more advantageous to buy it then go for it.
As they always say in business there is only one word: Go!go!go!go!and go!

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