10 OVERRIDING LAWS OF MONEY YOU SHOULD KNOW... AND MASTER (Pt 2)
In the previous thread, we looked at 5 Laws of Money.
Let's jump into the remaining five.
6. Law of exchange.
Money is a measure of VALUE as AGREED upon by the two parties involved in the exchange.
In the previous thread, we looked at 5 Laws of Money.
Let's jump into the remaining five.
6. Law of exchange.
Money is a measure of VALUE as AGREED upon by the two parties involved in the exchange.
Let's compare two web designers, Sam and Jake.
Sam designs websites and charges 100k
Jake designs same website, with same quality and same delivery time, but charges 500k.
Sam gets paid, Jake gets paid.
Same work, but different earnings.
Why?
Value.
Perceived value.
Sam designs websites and charges 100k
Jake designs same website, with same quality and same delivery time, but charges 500k.
Sam gets paid, Jake gets paid.
Same work, but different earnings.
Why?
Value.
Perceived value.
The money is not the important thing here. The perceived value is.
While Jake has succeeded in passing across to his clients that his value is as high as 500k, Sam has passed across the impression that his value is 100k.
The money simply expresses the measure of that value
While Jake has succeeded in passing across to his clients that his value is as high as 500k, Sam has passed across the impression that his value is 100k.
The money simply expresses the measure of that value
See when people focus so much on money, the lose the point.
But when they focus on value and out money in the back seat, it is easier to get the money.
The money only comes in to express the value you have already impressed upon the customer or client.
But when they focus on value and out money in the back seat, it is easier to get the money.
The money only comes in to express the value you have already impressed upon the customer or client.
7. The law of Assets and Liabilities.
What is an asset?
Is a house an asset?
You probably may say yes.
But a house in itself is not an asset.
An asset is anything that puts more money in your pocket than it takes away.
A liability is the opposite of it.
What is an asset?
Is a house an asset?
You probably may say yes.
But a house in itself is not an asset.
An asset is anything that puts more money in your pocket than it takes away.
A liability is the opposite of it.
Understand in assets and liabilities can really help you in your drive to make money.
Your most important asset is YOUR TIME!!!!!!!!!!!!!!!!!!!!!
You can't control time.
You can't.
And you never will.
But you can manage your activities in time.
You see, if you invest your
Your most important asset is YOUR TIME!!!!!!!!!!!!!!!!!!!!!
You can't control time.
You can't.
And you never will.
But you can manage your activities in time.
You see, if you invest your
/time into frivolities, you are turning it into a liability.
And guess what liabilities do? They take away from you and don't add value to you.
That means your use of time may just be killing you without your knowing it.ster Time.
And guess what liabilities do? They take away from you and don't add value to you.
That means your use of time may just be killing you without your knowing it.ster Time.
The greatest lesson to learn with time is delayed gratification.
Ask the truly rich, they know how to patiently wait for the harvest.
During the planting, they don't sleep. They keep watering.
Even when little signs of fruits show up, they don't pluck it unripe. They wait.
Ask the truly rich, they know how to patiently wait for the harvest.
During the planting, they don't sleep. They keep watering.
Even when little signs of fruits show up, they don't pluck it unripe. They wait.
Yeah, it's cool to want to drive the latest car and buy the latest gadget. Totally cool.
But if you haven't built up your empire to the point where it stands without you, delay the gratification.
Plough that money back into the business.
Sow it back as a seed.
But if you haven't built up your empire to the point where it stands without you, delay the gratification.
Plough that money back into the business.
Sow it back as a seed.
The second most important asset you have is YOUR MIND!!!
That is the seat of wealth you have.
If you are constantly putting in garbage into your mind, you can't put out value.
Is your mind an asset or a liability?
You need to protect your mind at all cost.
That is the seat of wealth you have.
If you are constantly putting in garbage into your mind, you can't put out value.
Is your mind an asset or a liability?
You need to protect your mind at all cost.
8. The law of the drop.
There is a popular saying that 'tiny drops make the mighty ocean'
Although it is a little cliché, this saying is true.
In the end, the whole is always a collection of tiny parts am accumulated together.
Some persons are still struggling with making
There is a popular saying that 'tiny drops make the mighty ocean'
Although it is a little cliché, this saying is true.
In the end, the whole is always a collection of tiny parts am accumulated together.
Some persons are still struggling with making
Money because they are suffering from the 'overnight success' syndrome.
They want to start today and make it all today.
No.
Wealth it accumulated. Over time.
It doesn't matter where you are now, start there.
It doesn't matter how much you have currently, start with it.
They want to start today and make it all today.
No.
Wealth it accumulated. Over time.
It doesn't matter where you are now, start there.
It doesn't matter how much you have currently, start with it.
Little efforts you make add up to great achievements and results.
My mentor said, success comes from doing what matters, in the right quantity and long enough to produce the desired result.
Don't ignore little beginnings.
Keep at it. You are making process.
My mentor said, success comes from doing what matters, in the right quantity and long enough to produce the desired result.
Don't ignore little beginnings.
Keep at it. You are making process.
Don't expect to land a million naira once.
Of course it happens.
But allow each thousand add up and accumulate into the million.
9. The law of speed.
Money. Loves. Speed.
Many people suffer from analysis paralysis.
I particularly am working on myself here.
Of course it happens.
But allow each thousand add up and accumulate into the million.
9. The law of speed.
Money. Loves. Speed.
Many people suffer from analysis paralysis.
I particularly am working on myself here.
Perfectionism will make you wait and wait and wait and... Until the window of opportunity closes.
Money loves speed and rewards the pragmatic ones.
Warren Buffet said, when press ted with an opportunity, he asks himself two questions:
1. What do I stand to gain?
Money loves speed and rewards the pragmatic ones.
Warren Buffet said, when press ted with an opportunity, he asks himself two questions:
1. What do I stand to gain?
2. What do I stand to lose?
If what he stands to gain is way more than what he stands to lose, he jumps in.
Be smart about your choices, but when you see a genuine opportunity, dive in
People in ecommerce understand this.
Sometimes, one product comes into the market and bombs
If what he stands to gain is way more than what he stands to lose, he jumps in.
Be smart about your choices, but when you see a genuine opportunity, dive in
People in ecommerce understand this.
Sometimes, one product comes into the market and bombs
Smart people dive in and make so much from it.
By the time many others wake up, the product is now everywhere and the price is no more profitable.
Remember: Money. Loves. Speed!
By the time many others wake up, the product is now everywhere and the price is no more profitable.
Remember: Money. Loves. Speed!
10. I kept this to the last.
Albert Einstein called it the 'eighth' wonder of the universe; the most powerful force on earth:
The Law of compound interest.
The ta forces that makes compound effect multiply money are
- Leverage and
- Duplication.
Leveraging on systems
Albert Einstein called it the 'eighth' wonder of the universe; the most powerful force on earth:
The Law of compound interest.
The ta forces that makes compound effect multiply money are
- Leverage and
- Duplication.
Leveraging on systems
is so powerful it can lead to generational wealth.
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It is my hope that you achieve your wildest dreams.
Keep working hard at it.
Payday is close.
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It is my hope that you achieve your wildest dreams.
Keep working hard at it.
Payday is close.
