In the pursuance of better standards of living, more and more people have gotten their degrees by attending evening and online degree programmes offered by both public and private universities. Most of us are hoping to finally get that elusive promotion, have a financial breakthrough and stop living from paycheck to paycheck.
However, when the promotion finally comes – if it does, we realise we want more and the cycle begins again. Even if you don’t increase your spending, very few can actually claim a true change in our wealth as a result of work promotion though our lifestyle may change. In a worse position is a good number of post graduate degree holders who are still jobless or in the same position they were before taking their masters programmes. Is all this slaving for a promotion worth it especially if it doesn't offer future security?
If the objective of going to school is to increase one's wealth and improve your standard and quality of life then definitely this cannot be the total strategy for achieving this. Going to school is good for improving performance and a myriad of other things but not necessarily to gain wealth. So what could you be doing after work if you are to create wealth?
A look at wealthy people can show you what you should do;
1. Perfecting an innate skill that you love; a good number of wealthy people are actually doing what they love to do. It could be speaking, working with children, designing a new product or writing a book.
2. Being disciplined and focused; there is no favourable wind for a ship without a destination. Taking time to come up with a mission or goal is important. If for no other reason, it is for you to know when you have arrived. When you do not have something you are focused on there is nothing to look forward to and that means you cannot be a better person; the discipline is not necessary, no need for any do’s and do not, nothing to aim for.
3. Building a system; systems help with marketing, distribution, acquisitions and management. With a good system, one is able to achieve much more than they would without one. What systems are there around you how can they be improved and can you improve them in any way? If you went into business what opportunities are there for you within the systems that you have established?
4. Building the right networks; most wealthy people know someone who can do something they need done or know someone who knows someone. How good is your network? Do you know a good lawyer, doctor, banker, etc. Now this is not just knowing people for the sake of knowing them but the people should be honest and really good at what they do. This ensures you get the right advice without wasting your money.
5. Manage money; ever been in a situation where all your plans suddenly change because you got some significant amount of income? This is one of the surest sign that money is managing you. Impulse buying is another. If you spend your time spending whatever little money you have available, it is the time you look hard and fast at what you are spending it on. This alone can cut your costs significantly and improve your quality of life much more than a 10% annual pay rise if you were to get a promotion.
6. Planning; we could also say strategising … for world domination? … Think big and understand that as you improve your skills you will be able to achieve and manage more. A man is as big as his problems. If a thousand shillings is a problem to you that is how big you are, if a hundreds of thousands, a million or 10 million that is how big you are. Taking time to plan and see what you need to be and do to get to these different income levels determines your financial success, and success as an individual or otherwise.
All said remember where you are today was determined by what you did before; the decisions you made. You may have to keep your day job; hey it pays the bills. However, those 4-8 hours you are awake after work will determine who you become. I suggest you set aside at least 2 hours for yourself, writing a book, or business plan, analysing your environment for opportunities, improving your skills and let’s talk about the result in a couple of years. Not to impose on you I think writing, public speaking, perfecting a business you are already in and network marketing give you the best opportunity to grow yourself and your wealth steadily in the few hours you have after work.