While it’s a good thing that many millennials are joining the business world, there’s one thing many aren’t realising… They’re actually quitting their jobs to own just another job!! Many if not all of these young people are technicians…and they join the business world from a technician’s point of view: the doctor opens up a clinic and starts working there, the barber opens up his own barber shop, the attorney starts his own firm and so forth. They go work in their business instead of working on it!

In each one of us, there are three characters: the entrepreneur, the technician and the manager. All these characters are in a constant war to win…in this case, the technician wins in most cases. This kills the entrepreneur and the manager in you because the technician cares only about the work he has before him making him a slave in his own business.
Without the entrepreneurial vision and the manager’s organization, the business is like a ship that lacks a compass!
And such businesses eventually close up simply because the technician is overwhelmed.

Meanwhile there are very few people endowed with a perfect balance of all these three characters, it’s an art that we can all learn through mentorship, research and self education… It takes a bit of time but that time is worth it. Trust me.
Now go work on your business and build one that works under all circumstances!!!

Assets and liabilities are terms we’ve probably encountered a number of times in our lives. But do we know what these terms actually mean? Let’s find out…

The Cambridge English dictionary defines an asset as something that is owned by a person, company, or an organization such as money, property or land. But my experience tells me that an asset is something you own that puts money into your pocket. For example a rental car, real estate among others…even a loan that gives you positive cash flow monthly as you service it is an asset!

Meanwhile a liability I would simply say is something that takes money away from you such as bad loans among others. Another perfect example of a liability disguised as an asset is a car that you own and keep spending on through servicing and gas but never gives you any positive cash flow. After all, you’d sell it at a net loss after it’s value is corrected for depreciation and expenses.

I’d rather suggest we view assets and liabilities in terms of cash flow instead of the traditional understanding which is quite misleading. Get to know what a real asset is and build wealth basing on that.

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Thank you for reading 😊