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.

Christmas and what matters most

It is Christmas time again, a time when you feel obligated to buy presents for family and friends.

I find Christmas to be one of those times when we lose our senses. I say this, because it seems we have forgotten what Christmas is all about.

The Christmas’ I remember and cherish most are those where the focus was not on presents but on family spending time and doing things together. I remember them because they were about activities – playing games, carol singing, playing with fire-works, listening to folk tales and so on.

While I did received presents, what I remember are the experiences. The sad thing is we no longer look forward to enjoying Christmas with family. If anything, a number of the people I know can’t wait for Christmas to come and go, as it has become a stressful time for them. Not only do they spend unnecessarily, they do so under stress.

What I find interesting with all these Christmas hysteria is buying presents with money you don’t have. To make matters worse, most of the presents bought are unwanted and will never be used. From what I heard on the news the other day most will be advertised for sale on eBay come January.

Why then do you put yourself through it? Especially when you know, it doesn’t have to be so. I will tell you why. Obligatory buying….the act of buying because you feel obligated. You feel guilty turning up for Christmas without a present in hand. According to you, family and friends would punish and disown you for not buying them a present.

Such an idea is further from the truth and we know it. No relative or friend who genuinely cares about you wants you to put yourself in financial difficulty by spending too much on him or her. What they want in reality is your love and care, which can be expressed without a present.

If you care to exercise thought, to look deeper, you would realise the winners in all these are retail outlets. They get to make large sums of money while you languish in debt, and family and friends stuck with presents they will never use.

Having the opportunity to see another year draw to a close, getting to spend time with family and friends, and celebrating religious believes is what Christmas is about, not buying presents. Focus on what matters most.

Banks find another way

Who is thinking of making money from you – Part 2

It seems banks have found another way to rob their customers.

Until recently, banks were permitted to charge their customers exorbitant penalty fees. Thanks to the OFT (Office of Fair Trading) this is no longer possible. The OFT is investigating current account penalty fees and is expected to clamp down on banks when their investigation is completed.

Realising the door to the riches they have enjoyed over the years will be close, banks have resorted to opening a new door of riches by providing customers a “Premier” account.

What is a premier account you ask? A premier account is a current account with add-ons, such as free mobile insurance, breakdown cover, discounts at hotels, etc. your bank charging you a monthly fee for the privilege of these add-ons.

The interesting thing about this account is, unlike a penalty, which you pay when you go overdrawn and which may not happen so often, you are paying a monthly fee, so the bank has a secured monthly income from you. And as I understand it, banks are already taking in almost 900 million pounds-worth of fee income annually. Thanks to you.

Of course, you will have to sign up for such an account before your bank starts charging you. The point is do you really need a “premier” account? What benefit is a mobile phone insurance to you? After all, you can get a new phone for £20. Why would you pay for a service you may never use? Even if you did need breakdown cover for your car, wouldn’t you get it for the same price or cheaper by going direct to the AA, RAC et al

I always tell people who moan about not having enough money or who want to save up to start by scrutinising their bank statements for unnecessary payments. This is one such payment you do not need to make.

Beware the banker salesman

Who is thinking of making money from you?

I find it disturbing that I not only have to be alert about salesmen/women trying to sell me stuff, I also have to worry about my bank as well.

I got a letter from my bank the other day, it read sometime like this….

Welcome to Private Banking…. As a desirable customer, you would enjoy the following services…a personal banker, discounts to hotels, restaurants, insurance and so on. It then went on to say that for this service a charge of £12 a month would be required.

Now here is the fascinating bit. I had not asked to join this “private banking service” and I sure was not going to make use of the phantom benefits listed in the sales letter.

Why is it that people are only concerned about you when you have a healthy bank balance? You would think your bank’s job was to help store, protect and grow your money. Wrong! There job am afraid is to make money from you, to suck you dry and make you indebted to them forever. They give you an umbrella when it is sunny but take it back when it starts raining.

I remember going to see my bank account manager about 6 years ago, to ask for a property loan. As you might guess, they asked me to take a walk. The irritating thing was I wasn’t asking for a lot and a proven property investor was going to mentor me, so the risk was low. May be I would be sitting a pretty property portfolio now.

Anyway, that is all in the past now, back to this sale letter from my bank. I wonder how many of you ever analyse your bank statement for “private” or “preferred” services that mean nothing to you but are costing you money every month.

As we draw nearer to the end of the year and the start of a new year, may I propose you are alert as to the services sold to you by your bank. Something as simple as a diary from the bank can have cost implications you are now aware off. I should know it happened to me.

If you did not know, now you do…there are many people interested in your money, and some of these people are those you least expect.

Contest that fine

You can get a refund most of the time, but only on one condition – you ask for it.

I had a booked a hotel on a last minute trip to London. On getting where the hotel was my partner suggested we walk past the hotel, check out the condition before going in to confirm our booking.

What we saw was not encouraging, paint to the stucco fronted elevation was flaking, the sash windows were rotten and the reception looked grotty and un-kept. As expected, we decided not to go in but to look at other hotels in the area. We found one two streets away, well presented and clean, and the rate was only a few pounds more than the one we had booked.

While I was happy to have found a better hotel, I still had the issue of cancelling the booking on our original hotel. I did think I was going to lose my deposit – small amount – but I wasn’t expecting to be charged “administration / cancellation fee” which was quite high. The main issue being I hadn’t given enough notice for cancellation.

Anyway, I complained about the extra fees and asked to speak to a decision maker at the head-office, as I could see I wasn’t going to get any joy for the rep on the phone. As far as he was concerned, nothing could be done.

Maria, from the head-office called me about an hour later. I think she was Spanish. She waived the fee and cancelled my deposit, which meant I came out of the deal not having to pay anything.

I remember my sister had a similar situation where a rep told her nothing could be done. However, when she spoke to a decision maker, her fine was reduced. Sometime back, I had to contest a late fee with my bank, I got the same result - the fine waived.

These are everyday situations you and I go through but only few of us go the extra mile to contest a fine even when we are in the right. This is why car parking and traffic management is big business because a high percentage of their fines are never contested because you and I are to scared to do so, or should I say we see it as a time consuming bother.

Did you know it is also part of the strategy to have reps prevent you taking your complaint further? Their job apart from selling to you is also to paint an impossible picture of you getting what you want if you feel they have acted wrong.

My point - always contest any unfair fine. Ask to speak to a decision maker and eight times out of ten the decision will be in your favour. However, there is one condition – you will need to be polite and friendly. Ask nicely, as my mum used to say.

Practical Education

Much education today is monumentally ineffective. All too often we are giving young people cut flowers when we should be teaching them to grow their own plants.

John W. Gardner

Are you missing practical education? Education you can use in the real world. You probably are.

Since graduating from university in 2000, I have come to conclude that I was not taught correctly. I was taught to respond, rather than think, taught liberal education as opposed to practical education.

I was not thought how to make money, move up the career ladder, deal with office politics and so on. I had to learn all that the hard way, through experience. Boy! how much I’ve learnt in six years in the school of life.

All our educational system seems to do is churn out corporate slaves. Think about it, you are taught how best to manage the finances of, say, businesses and corporations, but they neglect to teach you how best to manage your own finances. In effect, they are saying if you want to know how to run a bank, “come to us,” but if you want personal advice about financial matters, “go to a bank.”

Napoleon Hill once said “education comes from within; you get it by struggle, effort and thought. How true! He also said, “All the breaks you need in life wait within your imagination. Imagination is the workshop of your mind, capable of turning mind energy into accomplishment and wealth.

What then must you do to solve this problem? Start thinking and start investing your time in practical education. Think do I want cut flowers or do I want to know how to grow my own plant.

Life is a lot easier when you have the right thought and information.

Paper Money

“If you think making money by thinking is difficult then read this article”

I love it here. You are not frowned upon when you hand over a fifty-euro note to a cashier. Using paper money (cash) to pay for goods and services is normal in Greece, unlike the UK.

What is the big deal in paying with cash you ask? There is a deal my friend, there is a deal.

You see cash money has an aura – an effect on our emotions. I discovered during one of my many personal studies of this thing we call money that I get tight fisted when I am using cash to pay for a service or transaction. Because cash is real, I find myself attempting to hold onto it for as long as possible. If I left the house with 150 euros, I always want to come back with some change and more.

Payment cards or plastic as we like to call them on the other hand is not as real as cash. All you have is an "I owe you", a promise on paying a certain amount later. Not exactly the same as paying there and then is it? With plastic, you get to spend money even before you earn it, or better still you can also spend other people's money. Spending 500 euros using a card, occurs in a flash, you don’t even feel the money leave your hands.

Logically, it is hard to grasp why we have a system that allows you to spend money you do not have let alone other people's money. The companies who peddle these cards would have you believe it is handy. Of course it’s convenient for them to have you pay a penalty for such a service – getting rich off your back.

To make things worse society looks at you suspiciously when you wield a £50 note or larger sums of cash. Carrying cash is now seen as a crime, you must be a drug dealer or something to be carrying cash around. Here is what I think, damn society, do what is advantageous to you. Look after number one.

My point is there is a mental process in the ways we use money. Use cash as much as you can and you will spend a lot less. Spend less and you will have more.

Thinking does make life easier

It is always a difficult period – when you lose your job. You are distraught, angry and anxious about the times ahead.

I had just been speaking to my mother about my sister losing her job. Her services were longer required as they say.

A couple of weeks before, a friend had emailed me asking if I knew of any jobs going as the company he was working for were losing their contract and he might find himself out of a job.

A major issue isn’t it – losing your job, especially when you do not have any other source of income. Which brings me to ask why very few of us ever stop to think about how we make money and what would happen if that source of income dried up.

You would have thought a backup plan would be in place for the times when your boss calls you into his/her office to say “Sorry, we have to let you go”. The problem is not such plan exists because it would have involved ‘thinking’.

And thinking unfortunately is not something we do well. Spending a few minutes to think about the day, week, month or year ahead seems to be very difficult. It is probably the last thing that comes to mind.

How different would your life be if you stopped to think? A lot easier is the answer you are looking for. You see there is something special about thinking that does wonders to you.

Thinking clears the mind of clutter, helping you see things as they really are. It also makes solving everyday problems easier because with thinking comes creativity.

Creativity opens your eyes to what is possible. When you think of what is possible, you are saying and why not. Want to know if a ‘why not’ attitude gets you places, ask Sir Richard Branson

With creativity, you start to see the possibilities of making money available to you. You realise money does not come from just your job but from many other sources. With this in mind, you begin to relax, gradually reducing your dependence on a job.

Work - what do you expect?

Do you know why you work? Am not sure many of us do. I certainly didn’t know why I worked until a few years back when I saw the ‘light’, as they say.

Do you also know there are different types of work? You probably knew all the work you did were different, like work you did around the house, work you did for family and friends- like running an errand or babysitting, work you did for fun and, work you did for money.

Its one thing knowing the difference in the types of work you did, it is another to treat them accordingly.

Herein lay the problem – treating the different work you did the same. Am sure you expect / experience different feelings from different people and like being treated as an individual. So does the work you do, it would like to be treated different, like an individual if you will. Treat your work as an individual and your reward will be calmness and happiness. Let me explain….

The work you do for family is just that, for family – helping out. Don’t expect this work to be something you enjoy or that rewards you with money. The same is true for work you do for money, don’t expect it to do anything other than get you money. If you enjoy doing it great, but, don’t expect it to fulfil all your needs.

Expectations, if not understood, will always lead to disappointment. Too many a times do we go to work with an attitude of expectation that our work will fulfil all our needs, it won’t. Do you have this attitude? You can change it by separating all the different types of work you do and identifying what you expect from each one. Know what you expect and expect nothing else, see everything else that comes with this work as a bonus.

Having this type of attitude to work has made me more relaxed and fun to be around. I know why I work and what I expect from my various works and so should you.

What is this all about

Money, education, living....words that reflect what matters to me.

On these pages you will read about my experiences on the above, and my hope is you would learn something new that would help you along your own journey through life.

I have created this blog for students and young professionals because am a life long student and I love;

• people
  
• writing
  
• communicating with people
  
• reading everything and anything
  
• money and what it can do for me
• and living

I hope I can help you find what you are looking for, maybe even solve a problem or two provided it has to with the "Money, Education, Living".

Seyi