THE 10 LESSONS CORPORATIONS LEARNED DURING THE LAST RECESSION AND WHY IT IS IMPEDING JOB CREATION

THE 10 LESSONS CORPORATIONS LEARNED DURING THE LAST RECESSION

AND WHY IT IS IMPEDING JOB CREATION

"The recent recession has been the most brutal since the Great Depression and has caused enormous hardship for many American families, as well as immense financial problems for governments around the world. As a result, it’s hard to see the downturn that began at the end of 2007 as anything but a catastrophe. With household incomes generally lower and poverty rates significantly higher than they were 10 years ago, it’s easy to feel that everything is falling apart. But amid the wreckage, there are some success stories that are vitally important for the recovery and the future prosperity of America" From Time Magazine  - Jan 18, 2012

The last four years of recession has taught  corporations a number of lessons. Here are the lessons:

1. Corporations have learned that they can do more with less - because of technological breakthrough and the efficiency

in operations - as of now corporations have trillions of dollars stashed away that they don't intend to invest.

2. Corporations are hiring more temporary workers - temporary workers are tremendous cost savers - currently it pays for companies to save money instead  of  paying health costs, pension costs, and vacation pay.

3. Corporate profitability - there is a direct correlation between corporate profitability and temporary workers

4. Corporate executives -  can give themselves raises because they can justify it in the profit margins and their stock prices

5. Corporations are outsourcing - outsourcing is very profitable to corporations - According to available statistics labor costs are down while productivity is up.

6.  The general economic environment post recession  - The mindset of the temporary worker - is that at least I got a job so let me put up with all the crap that is dished out to me. The temporary worker is easily disposable!!

7. Companies don't care about employees  - somebody explain to me why a corporate executive can make 20 million dollars and a worker is making a minimum rate of $10 an honor - corporation is one of the most oppressive pyramids ever conceived by man

8. There is a direct correlation  - between efficient capital allocation and stock prices - hence if companies allocate their capital efficiently it will improve profitability and stock prices

9.  Capitalism is the greatest pyramid  - ever created where corporate titans lord it over their workers. The corollary is the stock market which moves at the whim of speculation.

10. Corporations are able to refinance  - their debt at a lower interest rate as a result of the Federal Reserve policy of quantitative easing making cheap money available

8 PRINCIPLES OF ENTREPRENEURSHIP FROM THE PARABLE OF THE TALENTS

8 PRINCIPLES OF ENTREPRENEURSHIP FROM THE PARABLE OF THE TALENTS

The Story About Investment - 

This is one of the lessons in the Bible that has influenced my thinking as an entrepreneur: It teaches the :

1. Principles of Multiplication

2. Principles of Financial Stewardship

3. The Principle of Diligence and Discipline

4. Principles of Entrepreneurship

5. Principles of Gift And Talent Development

6. Principles of Sagacity

8. Principles of Resource Management

It Pays To Develop and Nurture Your Talents because in the end that is your true WEALTH - your best resource for your  financial future is the ability to develop your God given talents to its highest potential

The Parable Of The Talent Mathew 25: 14-30 Message Bible

14-18 “It’s also like a man going off on an extended trip. He called his servants together and delegated responsibilities. To one he gave five thousand dollars, to another two thousand, to a third one thousand, depending on their abilities. Then he left. Right off, the first servant went to work and doubled his master’s investment. The second did the same. But the man with the single thousand dug a hole and carefully buried his master’s money.

19-21 “After a long absence, the master of those three servants came back and settled up with them. The one given five thousand dollars showed him how he had doubled his investment. His master commended him: ‘Good work! You did your job well. From now on be my partner.’

22-23 “The servant with the two thousand showed how he also had doubled his master’s investment. His master commended him: ‘Good work! You did your job well. From now on be my partner.’

24-25 “The servant given one thousand said, ‘Master, I know you have high standards and hate careless ways, that you demand the best and make no allowances for error. I was afraid I might disappoint you, so I found a good hiding place and secured your money. Here it is, safe and sound down to the last cent.’

26-27 “The master was furious. ‘That’s a terrible way to live! It’s criminal to live cautiously like that! If you knew I was after the best, why did you do less than the least? The least you could have done would have been to invest the sum with the bankers, where at least I would have gotten a little interest.

28-30 “‘Take the thousand and give it to the one who risked the most. And get rid of this “play-it-safe” who won’t go out on a limb. Throw him out into utter darkness.’

Is It Easy To Lose A Million Dollar ? Deals And Projects That Just Don't Work Out

Is It Easy To Lose A Million Dollar ?

Deals And Projects That Just Don't Work Out

When my kids were young I used to tell them to call me  "my millionaire dad".  I just love the sound of the word  -millionaire - it conjures up the image of an invincible business man, all knowing, all powerful!!

Being An Entrepreneur - Even since I can remember I have always have a goal of being an entrepreneur investor and working for myself. I believe then and I believe now that everybody should have a side hustle and not to depend on the company. (Sometimes companies can fire at random and not without adequate reason). I have heard so many stories of people reporting for work and being told that they are being fired without any warning. Always be prepared, don't let this happen to you my friend.

Being Fired - I have had a few jobs where I have been fired, but it did not make a different, because I always had a hustle going on. As soon as I got fired I went back to what I like doing - working for myself!! Sometimes I don't have two coins to rub together but it does not really matter because in my  mind I know we work for two kinds of money - your everyday daily money for expenses and your long term wealth building projects -learn to work on your everyday money expenses and your long term wealth building projects simultaneously.

Real Estate Melt Down -Before the real estate down turn I was involved with about ten investors that we do deals together. I call them my front money partners. The partners fronted the capital and we bought the properties and flipped. At one time we bought over $15 million worth of property. We made some money, but also lost some money as a result of the market downturn. The 2008 real estate downturn was very devastating and it is still taking its toll on individuals and families all over the country. As of now housing values are increasing, but we have a long way to go. 

A Million Dollar - Now let me tell you about how I lost a few millions. If you are involved in high stakes businesses that a lot of people are involved, especially, all you need is for one person to screw up and everything goes down the drain.

Overseas Market - I was involved in a $37 million bio-mass processing facility deal in an overseas market. The project was progressing smoothly and we have signed the memorandum of understanding . The funding for the project has been secured and all of a sudden the project sponsor stopped returning calls. The entity that was supposed to provide the collateral reneged on his promise.

Secured Funding - Our lead person was always going to visit our sponsor to solidify the project and move the deal but we realize something was wrong when our lead person could not locate the sponsor. After repeated inquiries we discovered that the project sponsor has secured funding from another entity.

Project Cost - We were devastated - after all we have been working on the project for the past twenty four months.  The project was costing about ....37 million...and my partner and I was supposed to make about 2 million dollars in finders and other fees.

 A Finder - Let me introduce you to a business that most of you might not be familiar with - It is called a Finder - A Finder is somebody who locates a service or a product for a client - it could be introducing a service to a client, help arrange   multimillion dollar deal  as a finder  - as a finder what you do is introduce a source. Typical fees could be 3% of the first $5 million ...or the amount could be $50 million and the fee could be .5% of $50 million. It could also be locating a rare painting or an item for a client and you charge a fee.

Private Equity - Let me tell you that most MBA s who get out of the elite business schools like Harvard Business School go into what we call private equity. They arrange financing for corporation and make huge fees on the capital that they arranged.

International Deal - Our deal was a high stake international deal, but deals go soar all the time. As a matter of fact 90% of deals just don't go through; however, all you need is just one deal to fund!! As a Real Estate Agent I have  been involved in deals where the buyer I was representing was also working with another Agent without my knowledge. On  numerous occasion, I lost money because the buyer decided to use another Agent without my knowledge. (The Buyer was secretly working with another Agent while simultaneously using my services). Such sometimes is the nature of business, some people can be duplicitous!!


Keep A Lot of Deals In The Air - All of us in one way or the other lose deals. Our first , second or third businesses do not pan out. What do you do in situations like this? The most important thing is not to give up;  continue to pursue your dreams. Over the past  years I have lost numerous deals - such are the nature of deals - you have to have a number of balls in the air, because you never know which one will mature and yield the fruits. I keep a lot of deals in the air.

Leave A Legacy - Currently, I am working on some high state international deals that involves a lot of money, I am praying and hoping this time all these deals pan out.... I just want to leave a legacy for my children's children as the bible says a good man leaves an inheritance to his children's children!!

Are You Thinking About Staying In Your Job Forever?

Are You Thinking About Staying In Your Job Forever?

"The recipe for success was to go to school. choose an occupation or a company, and work hard in that field for the rest of your life. Looking back on just the past ten years, we can see that this former recipe for success has become a recipe for disaster!"

 Paul Zane Pilzzer

The security of a job makes it difficult for one to just quit your lovely job. How about getting a check directly deposited into your account. The health care and the other benefits. All these are worth taking insults from your boss that you don't care about. I am not asking you to quit your job yet, but I am asking you to consider a side business that you can start  spare time. I plead with you in all sincerity, don't wait to get fired before you start thinking about starting a business. Also, don't wait for  the company to eliminate your job before starting to think about starting your own business.

The job market as we know it has changed - Not too long ago my computer crashed about 1:00 am in the morning. I was desperate to get it fixed and guess what  - I was able to get a company in India that was able to fix my computer remotely. The guy I was talking to informed me that they have over 36 million customers all over the world especially from the US. I was very impressed and they were very efficient. And note  the time difference -  It was about 9:00 am  Indian time. Why am I telling you this? Outsourcing job oversees is  disturbing the job market big time and we have to be aware of it.

Technology is replacing people -Think about all the jobs that is being replaced by robotics to bring efficiency into the market place. Please don't get me wrong we need efficiency in the market place. Just remember that most of the jobs that have been replaced will not come back. Another thing is that most big corporations don't really care about you. All they want to do is milk you. What do you think about a CEO paying himself $20 million dollars a year and you are over there making $12.00 an hour. Can you use $12.00 an hour to raise a family? We are out of the recession, but companies keep laying off people. Why?

Wall Street - What about wall street? It is just a giant legalized casino with a herd mentality. Sure you can make some money, but you really have to be an insider . You can make some money, but there is no science to it. Let us say you have all retirement money locked into the market and it crashes, just before your retirement. Listen, Wall Street does not care about you. Please start your own business and control your destiny.

Temporary Agencies are the leading employers - Most of the jobs being created are low wage service industries or in temporary part-time positions "underscoring that 'new normal' offered by American (and world ) capitalism is a new poverty condition. Temporary employment rose by 30,000. The number of Americans with part-time jobs who want full-time work jumped by 278,000 to 7.9 million. Folks this is going to be the normal, because corporations want to increase their profit and are not willing to pay benefit to full time workers. It is as simple as that!!

Corporate Pay Structure - corporate pay structure are designed to keep you glued to the corporate structure. A leading business executive admitted that "corporate pay scales are delicate structures designed to keep workers, managers and officers of the corporation satisfied, happy, and striving for more, while the corporation remains profitable". According to him the aim of corporate profitability is to keep taking in younger people at the lowest level and moving them up and very gradually increasing their pay. The net result is to make the employee, at some  state of his or her career, a captive of the corporation.

The Law of Diminishing Returns - It is an economic concept, but I will apply it here - The longer you stay on your job, the more the company believes that you are disposable. Psychologically, you are dependent on them because now you are married, have children and you cannot just quit your job!!

Do what you like the best - What is your passion? Convert what you like doing into a business and the money will follow. Learn to create your own business. "The asset column has no glass ceiling."

15 WAYS TO DEVELOP YOUR MIND AND INCREASE YOUR WEALTH

15 WAYS TO DEVELOP YOUR MIND AND INCREASE YOUR WEALTH

"If you want to have more , you first have to become more" Jim Rohn

1. The ability to develop the capacity to see - in your mind's eye - a vision - if you will - ability to spot opportunities that might not be obvious to people -  it is a gift that is nurtured and acquired over a period of time.

2. The ability to develop an intuitive ability (ability to acquire knowledge without inference or the use of reason- a six sense if you will that many people don't have  - ability to "smell" deals miles away.

3. Being educated is just a part of it, but most often than not you have to acquire the mindset through trial and error and the school of hard knocks - you learn through apprenticeship.

4. A level of street smarts that you acquire by being involved in everyday rudimentary tasks of entrepreneurship  and business practices - business as an art or science is boring and you have to be able to maintain the repetitive tasks and discipline required to get you going - for example, you want to raise capital - you should be disciplined to call or talk to a number of people per day.

5. The ability to know the difference between income and wealth -It is possible to have a higher  income and not be wealthy - Always remember that building wealth does not require a large income, however, it requires a  mindset that is disciplined and a long term perspective.

6. Ability to recognize that we are the pillars of  economic growth in a capitalistic society

7. The ability to achieve the wealth building mentality and have a balance in all areas of your life -  spiritually, physically, financially, emotionally and your relationship.

8. The ability to know that you have a conscious and social responsibility to be a good citizen in your entrepreneurship, investment and business dealings.

9. An attitude that says that no matter what happens I will continue my journey - If I lose my millions I would be able to go back to the drawing board and start all over again without any shame -or the ability  to have the emotional or psychological attitude to have things done no matter what!

10. Knows  that you learn through having mentors and updating your knowledge through short focused courses and building a library of books where you are always learning and updating your knowledge base -  I don't think there will ever be a time when the entrepreneurs says I have arrived!!

11. Don't wait to get fired before  you start thinking about developing a wealth building mind set and starting your own side line business - the forecast for the economic trend would dictate that people would be  laid off - just discover your passion and set up your own sideline business - always have a business on the side - don't wait to get laid off before you start thinking about starting a business.

12.Get into the habit of attending seminars on specific topics that interests you that would help you accelerate your knowledge base - for example if you are interested in real estate investments, look for inexpensive courses at continuing education department at the universities.

13. Always explore new ideas and challenge existing norms - exploring new frontiers will always get you motivated to do the unusual - and if you are starting a business do think big and go for it!!!

14. To know that your ideas on wealth creation is what makes you wealthy and not working for somebody else - working for somebody will make you  live comfortably, but will not make you wealthy.

15. The ability to know the mechanics of business management - the functional areas like accounting, marketing, financial controls etc., that makes business run.

Are Women Better Entrepreneurs? Women Are The New Entrepreneurs And They Have The Edge

Are Women Better Entrepreneurs?

 Women Are The New Entrepreneurs And They Have The Edge

I have always believed that women are more smarter when it come to entrepreneurship, starting and managing a business. As far back as the 1990's I used to run my own business - Metro Linen Service -(a leading provider of linen, and table cloths to caterers and restaurant owners). The majority of my clients were women. I was very impressed with their business acumen and savvy. I will always interacted with them and their comments were very insightful and full of common sense.

Women in business and entrepreneurship bring a positive traits into the market place.

1. Women posses an intuitive ability ( a knowing if you will), ability to acquire knowledge without inference or the use of reason - a sixth sense that is common with women - it helps in decision making -

2. They possess  good communication and negotiation skills

3. In the household that women run, they function as the CEO and manage all the vital functions of the family enterprise. Now how society can relegate them to the background when as a group they raise the family is beyond my comprehension.

I remember my own mother in Ghana as a business owner: Although my mother was uneducated and illiterate, but she was able to run her own business - buying and selling merchandise. She knew how to budget and make a profit. She made enough money to send me to the US for further studies and my younger brother to study law at the University of Ghana. She was also able to buy a house for one of my sisters in Ghana.

Here are some statistics pertaining to women-owned businesses and women entrepreneurs in the US. 

Between 1997 and 2002, women-owned businesses were growing twice as fast as other businesses.  (Center for Women's Business Research, 2009)

 In that same five year time period, the number of businesses owned by minority women increased faster than those owned by non-minority women. (Women-Owned Businesses in the 21st Century, 2010)

During the 2008 economic downturn, 5% of "high potential women" and 4% of "high potential men" left their jobs to start their own businesses. (Catalyst, 2009)

In 2007, 7.8 million companies were owned by women -- that's nearly 30% of all non-farm, privately held businesses. These women-owned businesses employed 7.6 million people and generated $1.2 trillion in sales. (Women-Owned Businesses in the 21st Century, 2010)

In 2008, 10.1 million companies were owned by women employing 13 million people and generating $2.9 trillion in sales. (Center for Women's Business Research, 2009)

 Female small business owners will create 5 to 5.5 million new jobs in the United States by 2018. (Projection from The Guardian Life Small Business Research Institute, 2009)

One in five firms with revenues of $1 million or more are owned by women. (Center for Women's Business Research, 2009)

Since women-owned businesses are usually smaller, they generate a small percentage of US sales and employment. In 2010, women owned 30% of privately-held businesses, but these businesses accounted for only 11% of sales and 13% of employment. (Women-Owned Businesses in the 21st Century, 2010)

In 2009, 11% of companies backed by VC funding either had or used to have female CEOS or female founders. (Wall Street Journal, 2010)

Women entrepreneurs usually start with less capital than men, and are less likely to take on debt. Women are more likely to say that they need financing to start their business. (Women-Owned Businesses in the 21st Century

"Women will create over half of the 9.72 million new small business jobs expected to be created by 2018 and more and more are doing this from home offices across the country. It’s a surprising statistic, especially considering that women-owned businesses only created 16 percent of total U.S. jobs that existed in 2010" according to Forbes Magazine 6/8/2012

THE 10 STREET SMART SECRETS OF THE ENTREPRENEUR

THE 10 STREET SMART SECRETS OF THE ENTREPRENEUR

Entrepreneurs are the pillars of economic growth and development in a capitalistic society.

I tip my hat to all entrepreneurs who are building businesses to promote the pillars of growth

1. A level of street smarts - that you acquire by being involved in everyday rudimentary tasks of entrepreneurship  and business practices - business as an art or science is boring and you have to be able to maintain the repetitive tasks and discipline required to get you going - for example, you want to raise capital - you should be disciplined to call or talk to a number of people per day.

2. Income and Wealth -The ability to know the difference between income and wealth -It is possible to have a higher  income and not be wealthy - Always remember that building wealth does not require a large income, however, it requires a  mindset that is disciplined and a long term perspective.

3. Wealth Building - The ability to achieve the wealth building mentality and have a balance in all areas of your life -  spiritually, physically, financially, emotionally and your relationship

4. Social Responsibility -The ability to know that you have a conscious and social responsibility to be a good citizen in your entrepreneurship, investment and business dealings

5. A No Quitting Attitude - An attitude that says that no matter what happens I will continue my journey - If I lose my millions I would be able to go back to the drawing board and start all over again without any shame -or the ability  to have the emotional or psychological attitude to have things done no matter what!

6. Lifelong Learning - Knows  that you learn through having mentors and updating your knowledge through short focused courses and building a library of books where you are always learning and updating your knowledge base - I don't think there will ever be a time when the entrepreneurs says I have arrived!!

7. Don't wait to get fired - Start thinking about starting your own business now - the forecast for the economic trend would dictate that people would be  laid off - just discover your passion and set up your own sideline business - always have a business on the side - don't wait to get laid off before you start thinking about starting a business

8. New Ideas - Always explore new ideas and challenge existing norms - exploring new frontiers will always get you motivated to do the unusual - and if you are starting a business do think big and go for it!!!

9.Wealth Creation - To know that your ideas on wealth creation is what makes you wealthy and not working for somebody else - working for somebody will make you  live comfortably, but will not make you wealthy

10. Business Management - The ability to know the mechanics of business management - the functional areas like accounting, marketing, financial controls etc., that makes businesses run.

TEN THINGS I LEARNED FROM THE BATTLE-FIELD OF BUSINESS:

"Businesses go through  life cycles so  be prepared to weather  the vagaries in business cycles with equanimity". GA

George Ansong is the ultimate entrepreneur. He has bought an existing business. He has started business from the scratch. He has been involved in a number of million dollar deals overseas. He shares his insights from what he has learnt over the year

1. Time Wasters -Learn to weed out the time wasters - people who waste your time and are not contributing to your goals - this is especially when you are in sales - you have to learn how to qualify people quickly through a series of questions that you device - just learn to weed out the time wasters

2. Not to do list - Compile a not to do list - a not to do list is crucial - I know we have been brainwashed  to do a "to do list"  - a  not to do list would help you eliminate the things that you don't need to do. For example, I don't  answer all call that I get. I let them go into my voice mail and return calls at designated time.

3.Productive hours - Track down your most productive hours - device a means to know your most productive hours and capitalize on it. Your most productive hours might be just four hours a day, but if you optimize it you will be able to increase your productivity.

4. Follow up -Spend time on the follow up - your follow up is what yields the result - like in tennis, it is the follow up shots that makes the difference. According to available statistics the majority of sales are made through 5th-12th contact. Make it your business to follow up.

5. Significant task - Determine to accomplish a significant task everyday - make it a habit to accomplish a significant everyday - tasks are what results in measurable goals. "Those who progressively take action, measure their results, refine their efforts, and continue to take action are destined to succeed; it's just a matter of time and a willingness to keep going"

6.Write a manual -  If you have an area of expertise write a manual /booklet - it help to sharpen your mind or thinking on a particular subject. It might even helpful for you to write an e-book or a best seller one day. One day, I suggested to my wife - I said you should write a book entitled "Raising Godly Children in an ungodly world". She looked at me, but she never responded. I believe that one day she is going to write that book since she has a passion for children!!

7. Think -Devote at least one hour a day thinking - think on paper - that means have a pen and paper with you and write down what comes to your mind - you can solve most problems this way -  write down ideas that come to you that might be the business idea that propels you to wealth. Do you know you can solve most problem during your thinking time?

8. Keep deals in the air -Keep a lot of deals in the air because you don't know which ones will succeed. I normally don't have a written down plan on a daily basis, but I have a general idea of what to do - I keep my schedule flexible so that I can zero in on the most important tasks.

9. Don't lose you momentum -  Keep pushing and don't lose your momentum - What is momentum? Momentum is the art of marshaling resources both visible and invisible resources to propel you continuously towards your life purpose. Specifically, you should be able to maintain your focus and be able to get back on track if you side step away from your journey. Is it possible to lose your momentum? Absolutely and that is why you have to make sure that you are always aware of your goals, so that you can always get back on track with some kind of guidance and feedback.

10.Negative Thinking- This might be like negative thinking, but it is not. It takes a long time to succeed in business so be prepared for challenges , problems and even a failure. For example, I have developed what I  a "shock absorber" within my framework of thinking;  I go into a deal with low expectation, because we all know how to deal with success. I normally go into a deal expecting the worst, because we know that success will always find some joy. Know that  businesses go through a life cycle of  its so be prepared to weather  the vagaries in business cycles with equanimity.

TEN REASONS WHY NETWORK MARKETING (MULTILEVEL) IS AN IDEAL FOR THE BEGINNING ENTREPRENEUR

TEN REASONS WHY NETWORK MARKETING (MULTILEVEL) IS AN IDEAL FOR THE BEGINNING ENTREPRENEUR

"Network Marketing is really the greatest source of grass-roots capitalism because it teaches people how to take a small bit of capital, that is your time, and build the American dream." Jim Rohn - America's Business Philosopher

I have always advocated that we should have a side hustle in addition to working a regular 9-5 job. The current labor market is such that it would be foolish to depend solely on the paternal corporation.

The old model of going to school and getting your degree and going to work for the corporation for the rest of life is going out of the window. We have to think about new ways of generating income to fund our life style and build wealth.

I believe that network marketing is the most elementary way to go into business for yourself. This brilliant idea has been criticized as being a pyramid scheme. But in my opinion, Corporations are more pyramidal than network marketing companies.

The typical corporation out there is there mainly to extract as much money from the employee as it can. In a typical corporation, the workers at the bottom make the minimum wage while the people at the top could make millions a year. In corporations, the big money is made by those at the top of the ladder and hardly percolates to the bottom.

Here is what one of the leading corporate managers said about corporations. "The essence of corporate profitability, however is to keep taking in younger people at the lower levels and moving them up and very gradually improving their pay. The net result is to make the employee at some stage of his career, a captive of the corporation

The Multilevel Options: The Ten Advantages

1. Low capital to get started,  low monthly overhead, no employees, no inventory to carry

2. Fair prices for their products or services

3. Focus is on points of distribution and duplication

4. Create leverage that allows you to get paid on the efforts of thousands

5. Work part time or full time - no cap on your earnings

6. You promote yourself - no corporate favoritism or discrimination - rewards are based on your efforts

7. Dynamic relationships that lasts a long time

8. You cannot be fired - you can quit on your own terms

9. Can create cash flow, build wealth and create residual income

10. You have infinite customers based on your efforts

Footnote:

"Network marketing / direct selling has emerged as the new paradigm of personal and business development over the last decade. By choosing network marketing as a new career or for supplemental income you have shown yourself  to be some who is willing to cut your own path. According to the Direct Selling Association, network marketing accounted for over $30 billion in sales in 2009 with 15 million Americans involved as small business owners".

THE TEN UNIVERSAL LAWS THAT SHAPES THE ENTREPRENEUR'S EXPERIENCES

THE TEN UNIVERSAL LAWS THAT SHAPES THE ENTREPRENEUR'S

EXPERIENCES

I believe that entrepreneurship is a journey of faith. The entrepreneur is able to look into the future and bring into existence those things that he sees in his mind's eye. The faith it takes to bring that into existence is divine inspired. It is God breathed whether the entrepreneur believes in God or not.

 I also believe that God's covenant of blessing is what motivates entrepreneurs to come up with revolutionary ideas, concepts, products, technological and medical breakthroughs that have catapulted mankind to the apogee of human civilization.

It is advisable, therefore, as an entrepreneur to understand the basic universal law that, God the creator of the universe, has put in place to help nurture, grow and expand our various enterprises and ventures.

Here are the Ten Universal Laws that I believe shape the entrepreneur's future and experiences.

1. The Law of Use - We have been given unique talents and gifts. The more we practice and use the talents and gifts the more proficient we will become. The summary is what we don't use we lose. It does not matter what the gifts that we have. This is a universal law and we have to use it to our advantage.

2. The Law of Reciprocity - This law  I believe touches on the life of the entrepreneur in a profound way. The entrepreneur life is build around service to his customers. "Give and it will be given to you". Because he developed a superior product or has an excellent service, the customers will return the favor.

3. The Law of Abundance - There is an unlimited supply of resources in the world. We are commanded to be fruitful and multiply. The application is that there is an abundance of riches and wealth and it is the responsibility of the entrepreneur to tap into the unlimited supply of resources. The law of abundance says we cannot limit our infinite God.

4. The Law of Expectation - Let me reiterate again that  I believe that entrepreneurship is a journey of faith. The entrepreneur is able to look into the future and bring into existence those things that he sees in his mind's eye. The faith it takes to bring that into existence is divine inspired. It is God breathed whether the entrepreneur believes in God or not. The law of expectation; believing that what you bring into the market place will succeed.

5. The Law of exponential growth - Inherent in the growth of an enterprise is the fact that enterprise could double its income and expansion over a period of time. ..."and in multiplying I will multiply thy seed as the stars of the heaven, and as the sand which is upon the seashore..

6. The Law of fidelity - What is fidelity? The quality or state of being faithful. "Whosoever can be trusted with very little can also be trusted with much". As entrepreneurs when we start an enterprise, we should expect the venture to grow if we manage it well and take responsibility for the success of the enterprise.

7. The Law of Momentum - An unseen force that we conjure up at the start of an enterprise or a venture. It is an essential tool kit of the entrepreneur. When you start a project, it seems like things are stagnant. Let us say you want to get leads  -you have to make calls, set up twitter, face book accounts etc., by doing this you have set a process in motion. You have to continue these fundamentals to get going. And all of a sudden, the embers that you are stroking catches fire. You have to be able to harness the momentum as it propels the growth of the enterprise. "First you build the wave and then you ride it".

8.The Law of creation - As entrepreneurs we create enterprises, build businesses and come up with breakthrough  medical and scientific technologies. It is a universal principle outlined by God, our creator, to create, explore, build, nurture. Imagine what the world would be like if there was no law of creation.

9. The Law of Perseverance - Dripping water hollows out stone, not through force but through persistence.” To arrive at our destination we have to pursue our mission with everything within us. It is within us to be committed, patience and laborious. We are commanded "to keep asking, keep seeking and keep knocking".

10. The Law of Change - Entrepreneurs should be in the forefront of change as the leading risk takers. The typical entrepreneur takes risk to make things happen hence there is always a whirlwind surrounding him. The ability to recognize that change ushers in freshness - the excitement to create the breakthrough technology and advance the frontiers of science is remarkable,. Concrete new businesses that did not exist before is now the footprint of the entrepreneur and he uses it to advance the well being of humanity.