Dedication – Lesson from the Football Field

Lets be honest making money by thinking involves dedication

Have you ever complained about people who have more money than you do? You might like to know that their dedication got them to where they are, and you too could be in the money, if you are devoted.

I had gone to visit my sister and her family over the weekend, spend some time with my nephews and catch up on life in general with the family. The boys were glad to see me as much as I was glad to see them, they spent the whole of Friday showing me what they had done in school and so on.

It was now Sunday, a cold and windy one too, and it was about 8:30 in the morning when my sister woke me up. She asked if I wanted to follow her to a football game one of my nephews had that morning. I said yes reluctantly, as I had planned to stay in bed longer and besides the weather was not that great.

Forty minutes later, we were on the sports ground, it was full of people old and young, players and spectators. The under seven’s of which my nephew was one were now warming up on their area of the field waiting for the referee to start the game.

The game started on the referee’s whistle and before long, you could see parents running along the sidelines, shouting and cheering their kids on. You would be alarmed at how serious some parents take their kids participation in football. A good number of them wanted their children to be the next Beckham or Henry, and you could see it from the pressure placed on the kids, coach and referee.

The only goal of the game was scored just before the half time by the opposing team, staying the same in the second half until the end. The boys’ maturity fascinated me because they handled the loss well. The only person with a tear was the keeper who had sprained an ankle.

As we drove home, I thought of the dedication involved in becoming successful in what you chose to be or do. I wondered how my nephew coped waking up early nearly every weekend training on Saturdays and playing matches on Sundays. Playing football was only meant to keep he active and fit, but then I thought if he is this dedicated, he could become a good footballer and probably play professionally for Arsenal (if only) if he so wished.

My thoughts also went to people who moan about others having more money than they do. Only two weeks ago, we were subjected to outbursts about David Beckham signing a £128m contract. However, no remark was made of his dedication, time spent training and playing football from a young age, while other kids of the same age were busy watching TV. You will find the same is true for all successful people; they are single minded and busy working on creating the life they want, not spending a single minute moaning.

Before you moan about another’s achievements, think of what they must have invested to get to where they are, and how you too could be successful by being committed to your goals and dreams.

Want to be Successful - Try, Fail, and Then Recognise the Pattern

Making money by “thinking” is easy making money on its own is not

Have you tried and failed at anything lately? You will need to, and identify why you failed if you want to be successful.

I met up with a friend a couple of days ago, we hadn’t seen each other for sometime and we were eager to catch up on how the other was doing. We talked about everything, family, making money, running a business and life in general.

One of the things that came up during our chat was what I term “Pattern Recognition” -- the act of taking in raw data and taking action based on the category of the data. For you a simple definition would be the ability to identify patterns from personal experience.

Why did this come up in our discussion? Well, Bob runs his business, and is now enjoying seeing it do well. But it hasn’t always been like that, he had tried various businesses, all of which failed and especially in the early stages.

However his perseverance kept him going, working on finding a process that worked. He had his mind set on taking control of his life and he wasn’t going to give up on accomplishing his dream. Bob now has a successful business and he plans to grow it using what he has learnt.

Ask yourself why he did not stop at the second or third attempt. My guess is most of us would probably have stopped trying after the first attempt. For many it doesn’t make sense to keep on failing, so we stop, not knowing victory is just around the corner.

Here lies the difference between successful people and those who never seem to achieve anything. They realise failing most often depends on the systems or processes that people employ, and not on the people themselves. In other words, people don’t fail, systems fail, and so in order to be successful, you must closely examine your approach to this goal.

Common among the most successful is this ability to recognise patterns of failure, while understanding that failure remains only a variation of success. This small group of individuals recognise the value of persistence in finding the right combination or formula in order to achieve what they want.

You could say that success - material, emotional, spiritual - in life depends on your ability:

• to welcome failure and learn from it

• to make good, effective decisions based on previous experiences

• to be persistent.

By consciously identifying your patterns of success and failure, you can become a master at building an effective system of personal growth. However, you will have to start by trying and if you fail, know why you failed, then try again.

Footballer and Business Man Signs Lucrative Deal

David Beckham, the former England Captain is leaving Real Madrid for Los Angeles Galaxy, after signing a five-year deal worth $250m (£128m). His annual salary is estimated at $55 (£28m) when you include his sponsorship contracts, merchandising sales and so on, not a bad sum for kicking a ball.

The news of the deal has lead to an outcry from all quarters, on how ridiculous the deal is and that David signed the deal for the money. I think it is unfortunate that he insists not signing the deal for the money, because it some how infers that he has done wrong. My concern is for the idea that earning a boatload of money is wrong, especially when someone was able, willing and happy to pay.

Which leads me to ask the question, what is wrong with negotiating the best deal possible in exchange for your services? I find it is interesting that people would not admit to wishing they could broker such a deal for themselves, rather they pick at others for making and having so much money. They also seem to forget that situations as these are nothing but business deals, where the parties involved look after each other’s interest.

“Golden Balls” - as he the British tabloid call him – should be seen as a business man who understands the value placed on his talents, be it on the football field or on advertising boards. He is in effect doing what you should be doing, providing a valuable service and looking after your interests.

You, like David, are a business, the sooner you understand that the sooner you will start earning the type of money others dream of but cannot have. Businesses provide goods and or services; they also understand their value to the community, which is expressed in monetary terms.

A number of the people earning the type of money David earns got there by being good businessmen and women, and being the best person possible in their respective fields. I would suggest you do the same, if you would like to have the amount of money you wish for yourself. Instead of looking at these people enviously, look at them as a motivational tool.

How much money can you save?

Make money by thinking and accounting for your cash flow

How much money can you save? A good question, but one you can answer only after giving your finances an overhaul.

According to moneysupermarket.com, the average family could save £5,000 simply by shopping around for the best financial deals. In addition, you could save more by spending wisely on day-to-day items.

However, to realise this saving involves knowing where you are with your finances, being able to implement a budget and balance your account. You need to know how much money is coming in and what is going out on expenses and, liabilities (credit cards, store cards and so on).

Your first task as you go about saving yourself £5000 is to collect all most recent bills and statements. The next thing is to grab a pen and note pad, or open the spreadsheet programme on your pc, or even better, go online to sites like this one from the BBC.

A quick look at your income statement and cash flow should show you how your numbers stack up. These numbers reveal the facts behind the state of your financial well-being, while the facts tell a story on what you have been up to with your money.

Now that you have sorted out your budget, and are aware of your cash flow, you can go back online to compare the financial deals available so you can start saving. There are many websites dedicated to finding the best deals, whether they are for savings accounts, mortgages, credit cards, telephone bills or car insurance. You can start by checking out moneysupermarket.com.

Finally, pick up the phone to negotiate a better deal with your bank(s). Start by telling them you plan to leave because you can get a better deal elsewhere, you will be able to negotiate better that way. I remember lowering my mortgage using this strategy two years ago. Two good reasons for speaking to your bank(s) first is the time you save, and second, the paperwork avoided.

With all things in life, you have to start with where you are. You cannot increase the money in your life if you can’t account for where your money flows.

Credit Card Debt

The following video clips emphasise why it is critical you improve your financial literacy, if you don’t want to be vulnerable to financial losses from unscrupulous business practices.

Although the reports feature American banks, UK credit card companies are applying the same tactics.

Enjoy!

Ignore at your peril: Part 2

What is the current interest rate? A good question and one you should be able to answer. You see, there are certain things you should not ignore, regardless of how boring they are to you. One such thing is the state of economic affairs of the country where you live and work.

For your information, the Bank of England increased the interest rate to 5.25% today. My worry however is not for today’s interest rate, but for that of the future. Why worry about the future? Following Miyamoto Musashi’s advice, you need to see distant things as if they were close and take a distant view of close things.

I read the other day about the UK’s tax burden growing to about 42% of GDP (Gross Domestic Product) over the next 50 years. In other words, you and I will be paying a lot of tax, which in turn means goods, and services will continue to be expensive.

The findings of this report produced by the treasury should not be a shock. After all, the congestion charge was brought in a few years ago at £5 and we are already being asked to pay £8. My guess, the fee will be increased and extended again within the next 5 years.

The fact is we are in for a life of tax increases and you cannot and should not ignore it; rather you should be thinking and doing something. How old will you be in 30 years? I will be just over 60 years old and will hope to have made, saved and invested enough money to look after my family and me. The last thing you want at that age is to be broke and a burden to your family and society.

If taxes are going to increase at such an alarming rate, then you should be asking yourself, would my money grow at the same rate or more. It will have to, if you are to live comfortably in the future, but it can’t if you are doing nothing about it. There are a number of things you need to do, and I will mention three here.

1. Understand how the state of affairs of the economy affects every area of your life.

2. Have a good idea of the state of affairs of your money.

3. Find ways to increase your money.

Paying attention to all things money should be a priority, because like it or not, it affects every area of your life.

A Big Salary: Do you qualify for one?

If you think making more money is difficult, think again. Hint: Think!

Have you heard a friend grumble to you about their measly salary lately? Maybe its you doing the complaining. You will need to think and do something to qualify for a big salary, if that is what you want and provided you have the ambition.

A friend, lets call him Alex, had a job as a teacher in a good school. He enjoyed his job, and was a star with his students and other teachers in the school. Although the job gave him loads of satisfaction - seeing his student's flourish, learn, pass exams - he was not happy with his pay packet.

Not having enough money at the end of each month was a problem. It was nice having a good job and one he enjoyed but that wasn't going to pay the bills and put food on the table. He wanted a big salary, but he understood that his job did not carry a big salary. Unless he became a head teacher and that clearly would take time, besides his worry was for the present moment, not sometime in the future.

Realising his job did not carry a big salary, and in need of one, he made the decision to change jobs. The decision was a big one, but one he had to take although he knew he was going to miss being a teacher. The lack of money was making him unhappy and was soon going to affect his teaching.

To get a big salary, he had to think and lot into jobs with big salaries, and in an industry he would enjoy. Before long, he was reading, taking courses and exams so he could enter his chosen industry. Alex is now working in a job with a big salary, and he is enjoying it too. He also plans to return to teaching later on, when he won't have to worry about the money.

You have a choice and the ability to determine how you want your life to be. You can decide to make more money or settle for less. You can't get a big salary working in a job that does not pay a big salary. You can't settle for being the office clerk and expect to be paid the salary of an manager. You will have to think and act if you want to make more money.

Moving up the ranks

Making more money than your work colleagues is possible, but you will need to think.

You don't need a lot to get ahead at your place of work and neither do you need a lot to be employable. You just need to abide by few rules and have the right thought.

Luckily for me my first job after graduating involved working under a guy I would never forget. His name was Peter Sharpe, he was a project manager, but more than that, he was a leader, teacher and friend. The type of person who made sure you weren't just working but also learning, so that you too could rise the ranks in a short place of time.

I have since met few Peters' along the way and where there were no Peters', I have still made it a must to learn from the people above me in the work place. The following are some traits I have found make some people move easily onwards and upwards at work.

Attitude: Appreciate that your attitude affects how people relate to you. Have a pleasant attitude towards life, be cheerful and affable, wear a genuine smile and go about your work with the attitude of getting things done the best you can. A good name and attitude will get you places.

People Friendly: Following on from having the right attitude is being genuinely friendly to the people who work with you, and I don't mean just getting along. Be polite and civil to all, including the cleaner. You might like to know that 85% of success is due to personality factors - your capacity to deal with people successfully.

Planning: Start you day with a plan of action. Create a list of work-related tasks you need to complete for the day, week, and month. Prioritize your actions and only do the critical activities.

Focus: Be aware, know what goes on around the office and who is who, but leave out the gossip, ideal talk and other people's political battles. Remember why you are at work.

Speak Out: Say no to excess delegation, don't get overloaded with work. Don't volunteer for the sake of it, however, you can lend a helping hand provided it doesn't have a negative effect on your duties. Also, don't be afraid of asking questions.

Lost in the Pile: Be different, be known for the right reasons. Don't settle for being just another employee, decision makers (senior level managers) must know who you are and what you do. This shouldn't be too difficult if you are doing your job properly in the first place.

Problem Solver: Problem solvers rise to the top. Try to resolve a problem before it arises. Your manager doesn't want to know the problem, he / she wants to know you solved it or at least tried. One more thing, saying, "It's not my department" is a big NO.

Money: You don't have to be on the board to be well paid. You just need to do your job properly and be a problem solver - an important asset, and then you can negotiate a pay packet on your own terms. One vital point, no one needs to know how much you are paid.

Owner: Finally, think and act like the owner of the organisation. Do the things you would do if you were the owner. For instance, would you leave lights, heaters etc on overnight when you know it's a waste and costing the organisation money?

There is no reason why you shouldn't and can't move up the career ladder. The question is, are you willing to think and act in a certain way? You might want to buy a copy of " Rules of Work" if you are ready to fast track your career.

What a relief: talking about money

Making money involves talking about it; you will be amazed at how you feel after talking about money with your partner or family.

A sense of calm and comfort is what I felt, peace of mind from knowing where one stands, the need to assume what the other feels about money no longer needed. Assumption, if you care to know is a horrible thing, because it disappoints almost all the time. In other words, assumption is the mother of all mess-ups.

When you assume something about another, you are taking a risk - a poor one too - that your choice or actions will be acceptable. More so, when it concerns money, because people and the way they feel and react to money is unreliable.

In a relationship or family, assuming about money can bring about a lot of pain. A proven fact supported by several studies that have shown that peoples feelings towards money is a main cause of divorce and an unpleasant home.

How do you make sure this does not happen to you? By sharing your feelings about money with your partner and family, letting them know what money means to you, your experiences, and values passed down by your parents.

Studies show a healthy relationship and family requires that you understand your partner's money mind-set, not only the big philosophical issues, but also the little things too. Like each person's spending and saving habits. It is also important to talk current financial state of affairs. For example, are they gambling their life away, a debtor to every man and his dog?

Having a realistic chat about how you feel about money does two things. First, it brings about transparency on where one stands, and secondly, it helps the relationship / family focus on what matters most.

It also helps create a united force, making it easier to solve any money problems present, and earning more money. And because you are able to talk freely, share ideas, and where required lend support, you end up having a healthy relationship / family environment.

Ignore at your peril

If you want to make money will you have to pay attention to certain things

Because of you, I have started to watch the Business Channel...the words of my cousin in a recent email.

A good thing I said in my reply, but more important is your recognising how business works, what money is, how it's made, and where you fit in.

You see, money is one thing you need to know about. Through the tools it buys and the freedoms it offers, money allows you the opportunity to discover your latent talents, to realise your inner potentials, and to achieve your personal goals.

Living a successful life is also about becoming what you want to be and you can do that only by making use of things, and you can have the free use of things only as you become rich enough to buy them. Money like air is a necessity.

Oh!, by the way, don't try equating money to something evil or any other myth you've heard, the only evil thing on this planet is "man". Be honest, you, like everyone else, need money.

In fact, you may want to stop for a minute, and admit to yourself that you need, want and like money. Seriously, take a minute, admit it and let go of all the pretence. Do you feel better? Good.

I will presume you don't know what business means - I have a reason for this. A simple definition of business is, "A person, partnership or company engaged in the purchase and sale of goods or services for a profit. While money is defined as a medium of exchange, a means of payment for goods and services, which means money is made by offering goods and services.

Here is where you fit in. Do you see yourself as a business? Possibly not, most people don't, that is why I assumed you didn't know the definition of a business. You are a business regardless of what you do, because you sell your skills (teacher, bus driver, accountant etc) for a profit.

If you agree that you are a business, then you will also agree every business needs money to survive. Like Google, BP or Nokia, you need to know how to boost your services, be the best, and, make and keep most of the money you earn. In essence, you must know how to oversee "your" business.

How much will you pay?

If you think about it, you will realise there is always a price paid for every choice you make, and you ultimately decide how much you will pay.

I met Leonidis at a gathering in a friend's house. We just got on, had the same ideas, opinions and values.

Leo, as he likes being called, ran an importation business, and had being doing so for three years, not bad for a thirty-year-old guy. Having made quite a bit of money, he now wanted to find another source of income, and especially one that wasn't as exacting as his current business.

He planned to travel to America for a month, to look into business opportunities he could set up back home. He figured it was a small price to pay; knowing what he stood to learn was worth the effort in the end.

He reminded me of a friend who once asked me what I thought about him taking a specialised information technology course. The course was going to cost £4000 and would run over twelve weekends. Completing the course would have increased his earning potential by 28%, another small price to pay for such a return. The last time I checked, the average yearly pay-rise was just above 3%.

You make choices everyday, and these choices either add or take-away from you. I find few people practice this rule of always looking for ways to improve their lives, especially in the area of workable education - education you can use straight away.

It's all down to how you think. People who aim to improve their lives always see spending money on their education as essential. They understand the importance of being aware and that it costs more to be ignorant. Being aware gives them an edge.

I find it laughable when I hear someone wishing they could do this or that, but are not willing to spend money on learning how to get what they want. You have probably done the same, found a product or service you know would benefit you, but are unwilling to pay for. What you fail to understand is there is always a price to pay for what you want.

Do you think spending £4000 on a weekend course is expensive? Before you answer the question you need to understand where you stand before, during, and after making the choice to attend the course or not. The point is to know the true price, how much will it cost to be uninformed.

Where's my money?

There is a reason why cartoon shows like “The Simpsons” and “Family Guy” are very popular – they address the issues we don’t talk about.

I saw an episode from “Family Guy” some time ago, where Stewie had to resort to drastic measures to get his money - won from a bet they had – back from Brian. To summarise Stewie gave Brian 24 hours to hand over the money, and had to beat him senseless before Brian agreed to going to the bank. Watch the clip below.

While I do not condone going to such extremes, I understand how Stewie felt, and am sure you will too if you have ever lent someone money. Three things (one for lending and two for borrowing) come into play when you lend or borrow money.

First, as the person doing the lending, you feel bad having to ask for your money back, you expect - as I and most people I’ve talked to about this - them to come to you and not the other-way round, where you have to chase / stalk them for your money.

Second, as the person doing the borrowing, you feel bad for not having the money at the agreed time and do not know how to tell the person who lent you the money, resulting in an awkward situation.

The other option available to the person doing the borrowing, is to take advantage of their lender, knowing full well asking for money back is not something people do easily. It takes a lot for a lender to decide on chasing a debtor for money especially when the debtor is a friend or family member.

How do you avoid all this mess? You need to think and act like your bank. Do a credit check and only lend money you can afford to lose. If the person asking to borrow money from you fails your credit test, then say no if you want your relationship to stay intact.

Remember, this is just another money transaction and you aim is not to lose out.

Where to save or lose money

You really do make money by thinking

Don’t believe me? Read on

I recall a lesson learnt sometime ago about scrutinising my money transactions.

I had gone to a store where I planned to buy foam for a sofa I was making. The store was located on a busy road and in a London borough known for its ruthless parking attendants.

I found a parking bay on a side street close by. On parking the car, I decided to pay for a permit allowing 30mins – costing about 60p. After about 20mins I made my way back to the car, foam in hand and was only a few meters away when I saw a parking attendant next to my car. As is normally the case, she claimed to have already written the ticket, could not cancel it, and anyway I was a minute above my limit.

My anger, at first directed at the attendant was now at myself. As I drove home, I thought if only I paid for an hour, I could have prevented the situation. Although it would have meant having time left on the clock, my not getting a ticket would have been assured. I would have saved myself £50 - parking fine - by spending £1.20.

Why did I not pay the £1.20? To save 60p. However, I failed to think and look past the present, had I analysed the money transaction taking place, it would have been clear the decision I was about to take was the wrong one.

Here is the problem, stopping to think. How many times have you stopped to think about the effects of your daily money transactions? Rushing through life, you find yourself concentrating on “big things”, not realising the “small things” count and in reality have an effect on your life in the end.

Having money is not always about earning more but about managing what you already have. The quickest way to have more money is by not wasting it, but by spending and saving wisely.

Understanding where you stand before, during, and after going into a money transactions is very important. More so your daily transactions, as they can lose or save you a lot of money over time.

New Year Resolutions and the Extra Mile

How quickly 2006 came and went. 2007 should be no different considering three days have gone already - I can’t believe it.

Anyway, it’s that time of the year again, when you make your New Year’s Resolutions – list of things you want or need to achieve for the year.

Apparently, more than 16 million British adults will be making one. Most people’s resolution will also include items that appear on the list every year, things like weight loss, tackling finances, keeping fit and spending more time with loved ones.

It seems money amongst other things rank high in our lives, hence its regular occurrence on the resolution list. You might think this is the only reason, but there is one other. And it isn’t because reducing debt, saving more or having more money is difficult either.

The other reason is this - failing to take action, taking small progressive steps to solve your problems and fulfil your needs. It is also the reason why a large percentage of people will not achieve their target. A fact documented by various studies. Did you know half of those who made a resolution at the start of 2006 gave up before six months, and about 2.2 million by the second day?

Maybe the goals set are not realistic or not wanted bad enough. Whatever the case, one thing is certain, most lack an action plan.

You would agree more important than having a list is the desire and will power to take action. Its something you hear all the time, but never take notice, going the extra mile really is the difference between having what you want or not.

If you are to achieve anything you will have to go a step further, you will have to take action. Everyone has a dream, but only those you take action achieve and live their dream.