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Article 3: Seven Secrets to Wealth Creation

Discussion in 'Jukwaa la Elimu (Education Forum)' started by Sanctus Mtsimbe, Jul 27, 2008.

  1. Sanctus Mtsimbe

    Sanctus Mtsimbe Tanzanite Member

    Jul 27, 2008
    Joined: Jul 14, 2008
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    Wealth creation is not a matter of luck it is the result of applying an appropriate strategy. Although myself I am not Wealth, but I would like to get there. Here are seven wealth building secrets that can help all of us put together our own winning strategy to increase OUR personal wealth:

    Secret 1: Have a Strong Reason To Become Wealthy

    You need a stronger motivator than the money. What is the real benefit that you will receive from becoming wealthy? How will your life change for the better? Unless you have an emotionally strong reason to become wealthy, you are unlikely to do what it takes.

    Remember that mediocrity in the western world is a pretty good lifestyle than in Tanzania and it's easy to achieve. You need some special potential benefit to get you to go the extra mile and achieve wealth. If you dont have one, find one or join any serious Networking initiatives.

    Secret 2: Find a Strong Market Place

    Your wealth has to come from somewhere and that somewhere is called the marketplace. What marketplace are you targeting?

    It is important that you choose a marketplace that is strong enough and healthy enough to provide you with all the opportunity you need in order to reach your financial goals. Serious Networking is a good Market place if you dont have one.

    Secret 3: Have a Strong Vehicle

    How are you going to tap into that strong marketplace? You need to have a vehicle that has the potential for providing the results you seek. The vehicle needs to be strong enough that it will do the job you are asking of it, both now and for a reasonable time into the future, regardless of how the market is changing.

    Secret 4: Develop or Hire Strong Knowledge

    Applied knowledge is power. If you are going to take your vehicle to the heights it needs to achieve in order to provide you with wealth, then you must have the knowledge of how to do that. Some knowledge you need to have yourself and other knowledge you can hire in the form of employees or outsourcing or simply from Networking.

    What knowledge do you need to add to your knowledge bank and where are you going to get it? I guess good Networking has all knowledge it takes.

    Secret 5: Develop and Tap Into a Strong Network

    Nobody gets rich on their own. You need a strong network of contacts, each of whom will play their role in your journey to riches.

    Your will need a network of people to help you stay on track. A network to brainstorm with. A network to help you market your vehicle. What is your current network like? Do you have good relationships with all the people who can help you achieve your goals? If not where are you going to find them and how are you going to recruit them into your network?

    Secret 6: Have a Strong Risk Management Strategy

    The self-made rich don't avoid risk, like the average person does; they find ways to manage risk. When you know why you are becoming wealthy, and you have the right market place and the right vehicle, make sure you also have a strong risk management plan to keep it all on track.

    Secret 7: Have a Strong Commitment to Your Success

    The last secret, and the most important behind knowing why, is to have a strong commitment to succeeding. Your commitment has to be unshakable. You are highly likely to meet with obstacles along the way and some of them may be very challenging. The thing that will get you over, around, or through those obstacles is a strong, unwavering commitment to achieving your goals.

    Watch out for the next Article number 4.
  2. m

    mmeru Member

    Jul 27, 2008
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    Great Sanctus,keep it up
  3. Sanctus Mtsimbe

    Sanctus Mtsimbe Tanzanite Member

    Jul 28, 2008
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    Asante Mkuu, ni mambo ya kubadilishana mawazo tu . . . . hasa katika yale ambayo nayaamini na ambayo ni universal principles.
  4. M

    MzalendoHalisi JF-Expert Member

    Mar 1, 2009
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    Poa Mkuu!

    This is an inspirational stuff!