When I started my career after college, I sought to know one single greatest life skill that I needed to have in order to succeed in life. I talked to people and read hundreds of books in different genres. I studied biographies and books on successful people from all walks of life and ages.
Finally I got the answer: The ability to manage finances well.
What makes people rich or poor, happy or unhappy, successful or failures in life is not actually how much they earn. It is how they manage the finances that come their way or sweat to earn. This is why we have stores of mechanics, plumbers, peasant farmers, teachers, and even driver and office assistants who are able to live decent and successful life, invest to own land, houses and business within a span of few years.
On the other side we have some folks who earn relatively good income but are always broke.
It is estimated that about 90 per cent of the world’s wealth is in the hands of 10 per cent of the population. This skewed distribution of wealth is mostly erroneously attributed to uneven distribution of resources that produce wealth as well as one’s background, social connections and environment.
For example it is believed that the rich, progeny of rich people as well as those living in rich countries with better pay and better environment for wealth creation will continue to be richer.
This is not actually the case.
Financial experts tells us wealth is more about attitude and sound habits than external conditions such as inheritance, good income or an enabling wealth-creation environment.
I worked as a sales executive with good income but always broke until I started applying sound financial skills which I learnt from books and successful people. After I embraced then it took me just two years to quit employment and start my own business.
Years later I wrote a book, or rather researched and compiled distilled time-tested financial skills into a book that I use to train and coach hundreds of people on personal financial success.
This book, The 7 Pillars of Financial Success outlines 7 principles that if embraced guarantees you personal financial.
It is said that a journey of a thousand miles starts with one step. Your first step ought to be the desire to be financial successful – which I suppose we all have. Then second step is to start reading and empowering yourself with this key skill. Ignorant is very expensive.
It is highly recommended you get professional assistance. Get a mentor, usually a person who has succeeded to guide you. Sometimes to succeed you need external guidance. I am sure if you are sick you don’t just trust your gut and prescribe your own medicine. Nearly all successful entrepreneurs, artists, sports personalities and celebrities in all fields have had mentors, coaches and trainers who held their hands as they rose to the top. It makes a lot of sense.
Murori Kiunga is a start-up business consultant trainer and motivational speaker. He has authored several books on personal finance, Entrepreneurship and Personal Success. He writes weekly column in Business Daily every Tuesday.