7 Ways A Poor Mother Can Make Her Child Rich

4 min read
Photo by Annie Spratt on Unsplash

My mother was my first motivation and inspiration to succeed.  Though from a humble background, she taught me to live life always aiming at the sky. She taught me the importance of building relationships with wise people. And when my father totally turned against me majoring in the arts, she recognised my potentials and supported me strongly. During the last holiday I had with my mum, I was writing a book for children and she proudly said, “I am glad I supported your decision back then”. Now I have a budding poetry society and a semi-successful writing career.

– Oyedeji Damilola (Founder, Ariella Poetry Society)

A mother’s mindset is like a mainframe computer that communicates multiple signals to her children and those around her. A child’s possibility to succeed is higher when he(generic) has a mother who supports and pushes her children to success. The first connection a child has to the outer world is his mother. Firstly, he shares space, food and water with her. He gets vitamins needed to grow into a healthy foetus from her. He shares feelings with her and she shares her feelings with him too. This pre-natal connection marks the importance of a mother to a child. In this article, I will be identifying seven ways a mother can make her child RICH!

MINDSET

Primarily, the right mindset is the right way to life. A mother’s way or approach to viewing life is what she passes down to her child. A mother who believes in everyday learning will train her child to see every moment as an opportunity to learn. If she believes in the  cogence of making mistakes and learning from them, she will pass down the value to her child. If a mother is such that remains stuck to archaic ideas, refusing to drop them for new ones, she might be an obstacle to the adventurous spirit in her child(ren). Consequently,  preventing possible future achievements.

IMAGINATION

Also, many wise men have said, “deep thinkers are great thinkers”. Children are naturally imaginative and inquisitive, trying to make sense of the world they have found themselves in. Yet, some mothers try to shun their children and cut them out of their world of imagination. Mothers who are, however, able to encourage deep and creative thinking in their children will succeed in helping to build their child’s imaginative ability. I believe that anything achievable is something that must be first of all imaginable. Alexander Graham Bell did not wake up one day to his telephone invention. It all began with an imagination. Mothers who can build their children’s ability to think give them a great tool in this world of inventions.

MOTIVATION

Furthermore, a mother’s ability to push and motivate her child to Success is invaluable. Pushing and pressuring are two different ideas. Pushing gives room for mistakes however, pressuring leaves the child with no option of failing. A mother, who motivates her child to try new things, pointing out the possibility of failing, pushes him to greatness. Most parents try to tie their children down to a safe space, preventing them from taking new adventures. Parents who do that rid their children of their ability to discover and invent. Popular rapper Kanye West spoke about his mother as the one person who taught him to believe in his “flyness” and also to conquer his shyness. She motivated him to be the voice to allow people to think and find their own way.

SUPPORT SYSTEM

Consequently, a mother who motivates her child becomes a support system. This gives the child the belief that he has his number one cheerleader in her. Gabby Douglas, the renowned artistic gymnast, is the first African American to have won the Olympic all-around champion in 2012. She began her training at age six after her mother enrolled her in gymnastic classes. When Gabby felt the pressure of being separated from her family she wanted to give up. Her mother’s tough love helped her to hold on strongly. It was that year that she won the gold for individual all-around gymnastics.

DISCIPLINE AND FORESIGHT

Ben Carson’s story is another one that strikes deeply. His mother is a definition of love, discipline and foresight. Ben Carson is a renowned paediatric neurosurgeon who was mothered by a single mother with no formal education.  He said, “She was one of God’s greatest blessings to me and it was her foresight and discernment that pushed me to reach my dreams”. Ben lagged behind academically but his mother taught him that it was in his power to change their life’s situation. When she realised how much of TV her children watched, she curbed it by making them read two books  in a week. That regular reading habit was what Ben later said to be the beginning of his fruitful academic career. Ben Carson’s story enlightens us on what a mother’s love and discipline can do to her child.

INTERPERSONAL SKILL

The importance of a great interpersonal relationship skill cannot be over-emphasized. Many children who have poor relations skills are influenced by their family background. Any mother who encourages her child(ren )to communicate feelings and opinion freely and confidently, correcting any form of impertinence, is good. Great relationships are success markers; show me your friends and I will tell you who you are. The ability for mothers to encourage their children to keep good friends is one great boost that every child needs.

Having said all, I want you to note that your mother is a body of wisdom. If you look closely, you will see in her, several values that will help you go a long way in life. Mothers are priceless and they can lure you to great success.  

How To Scribe For Ngmoneyseries

How To Scribe For NgMoneySeries

4 min read

Introduction

Hey there, I am happy that you are here. I trust that this article how to scribe for ngmoneyseries will help you. Not only to help you become a ngmoneyseries scribe but also to help you become a great writer. So I’d like it if you paid careful attention.

What and How to Scribe for Ngmoneyseries

scribing at ngmoneyseriesSo there is this guy named Ayo. People call him Dr Ayo as a result of his Vet Medicine background. I wouldn’t give too much thought to that if I were you. You could, however, ask yourself this question. How can one person teach millions of distracted young people everything he knows about money? Well, Dr Ayo is going to use the very thing that is distracting them to teach them.

Leveraging On Trends to Share Insightful Lessons

The beef and the rivalry between Davido and Wizkid is huge. I am sure a Wizkid Fan would have noticed I mentioned Davido ahead of Wizkid. Such a fan is probably already planning how to hate me. Whereas I was only following the simple alphabet order. Insight is a wonderful thing, it just means to see in ways that others are unable to. 

Dr Ayo saw that there were lessons Wizkid and Davido fans could learn from their feud. So he wrote 5 Money Lessons You Could Learn From the Wizkid-Davido Supremacy Battle. Yeah, I know you want to read it too. All trends can teach lessons. This mindset is necessary for how to scribe for ngmoneyseries.

Optimized Titles

Enumeration 

There are a couple of reasons you want to read it. The first is the title is optimized. How so? Notice that it is enumerated. When something is numbered, your mind wants to count it. You already probably imagined what the five lessons could be.

Curiosity

You might have come up with the right lessons. But you wouldn’t know. So you’d just want to click and read. That is curiosity, the second reason.

Relatability

You know it is not a lie, it was all over social media. Here is a youtube blog news from way back that referred to it. You can relate, so you’d want to read. Hence Relatability the third reason.

Celebrity Review, Controversy and Sensitivities.

 Scribing for Ngmoneyseries Speaking of wars, there has always been a gender war. I do think it is unnecessary but it does exist. And you could use it to make your reader want to read. Or make you want to read The One Money Money Strategy that worked for Michelle Obama. Curiosity is wanting to know what that one strategy is. The controversy bait is wondering if it means Michelle was more successful than her husband.

The Necessary Tricks in Your Writing

Active Tenses versus Passive Tenses

You already know I am Dr Ayo. And you already enjoyed the article to this point. Do you know why? This article is optimized. I used active tenses. This is better than saying active tenses were used by me.

Short Tenses and Short Paragraphs

I wrote in short tenses. Your sentences must never exceed twenty. There were places where only four words made the sentence. The shorter the better. Overall make your paragraph short three sentences are okay, only rarely use four sentences.

Transition Sweetly

It really would be nice if you let your thoughts flow as you write. Use transition words to tie your sentences beautifully. 

Watch Your Tone

The write-up tone is very important. It would make us happy if your tone is fun and informative. The disapproving tone is not fun. Keep your perspective positive. If you hold the cup firmly you’d prevent the water from spilling. Every sane adult knows to hold their cups firmly. The last two sentences mean the same thing.  One tone focuses on information of benefit. The second condescends. Avoid condescending tone.

Why You Should Become A Ngmoneyseries Scribe

Where do you come in? I have too many insights than I can write. That is why you will be writing my thoughts for me. You see ngmoneyseries wants to publish as much as five articles daily for the whole year.

How It Works

I will share titles with you. Most times I’ll explain them with a voice note(via WhatsApp). You will research on the title subject. When you are done you’d share with the ngmoneyseries team on google docs.

The Art of Writing

Writing is an art. And all arts flow. Knowing this is how to become a ngmoneyseries scribe. Living this is how to scribe for ngmoneyseries. 

You Are Almost Ready To Become A Ngmoneyseries Scribe

I am sure you have noticed that I have been teaching you the heart of sweet blogging, lol. In the middle is something called SEO (Search Engine Optimization). This is a fancy word for how to make it easy for a web browser to find this post. This is why you’d have noticed, I mentioned the title of this blog three times in this post. 

More on SEO

orange in the middle, icon.Always mention the title in the introduction without it been crass. And then slot it in at least two other places. Do the same thing for the key phrase. Become a ngmoneyseries scribe is the key phrase I chose.

This SEO is also the reason I inserted links to other websites (external links) and links to other posts of ngmoneyseries (internal links).

You are a scribe for ngmoneyseries. You may also want to learn everything Dr Ayo has to offer. This is where best to start.

Finally on How To Become a Ngmoneyseries Scribe

grey in the middle ngmoney logoThank you very much. Do put all these things in mind and practise them as you write. This will be fun. I intentionally didn’t mention the use of correct grammatical constructions. You already know, it’s a given. I use Grammarly, Grammarly helps a lot you can sign up for free here.

All the best!

Ayodamola Olu-Ayoola

Ps: I forgot to tell you. Word count should be a minimum of 750 and a maximum of 1000. Like this one you just read.

Bye, cheers!

Image by Steve Buissinne on pixabay.com

Seven (7) Unproductive Money Habits, The One Way Out!

3 min read

The lives of the rich and famous are often tempting and glamorous. Irresistible; the flashy cars, luxurious life, and expensive outfits that the famous stars often wear. The poor might end up cursing the day they were born but sometimes, the rich are often caught up in the success-web.

Success is the desire of most people (most people hate failure) but not everyone knows how to move on and chase (more) success. Most times, many people are trapped in the cell of success, and their passion and zeal surrender to the most recent success without vision and hunger for more.

Many people were half baked for the success they achieved early in their lives, the fame, and the money was bigger than what they could handle.

As good as success might be, it can also be a huge burden that crushes people if not handled properly. 

Some of the celebrities and athletes that we know went from grace to grass not as a result of laziness but for some untamed habits that shot them down. While some were able to bounce back, others never did.

You must learn to differentiate your seeds from your harvest—seeds produce harvest. 

SEVEN UNPRODUCTIVE MONEY HABITS

Have you seen a successful businessman/woman? Study their habits; perhaps you have seen a poor man, check his habits. Habits are everything—it either makes or mars a person.

The rich do the things that make them rich, while the poor have habits that keep them poor. Below are the seven (7) money habits that make a man poor:

1. Wrong company.

 When a man keeps a company of his sense mates, it may be difficult to make meaningful progress in life. You need a mentor, someone with experience and can provide hindsight & foresight where career and wealth creation is concerned.

2. Inability to invest.

The poor work for money while the rich have money work for them. The rich spend their time looking for the best places/business, to invest their money in a bid to multiply it as time goes on, but the poor hardly save much less invest.

The concept of investing can be best explained from a farmer’s perspective, a farmer will invest (sow the seed) into the earth and get a harvest in return. Lastly, saving doesn’t make you wealthy, investing does.

3. Focus on survival.

The poor are perpetually in “Survival mode”. They acknowledge their needs but they consistently deny themselves by the inability to delay gratification. Moreover, they wallow in self-pity. They hide under escapists’ theories like “all is vanity”. Survive, but more importantly – thrive!

4. Poor money management.

One of the attributes of humans is the ability to manage resources and situations — time, money, problems, success, failures, and.

The poor lack money management skills and will often spend money on wants. The poor are most times unable to differentiate between asset and liability, so they spend more on liabilities than on assets.

5. The poor expect money miracles.

Poor people pray the most, that’s not saying the rich don’t have time for prayers. The expectation of the poor is that miraculous money will drop in their account. Whereas miracles do happen, they are not the foundation upon which wealth creation is built.  Refusal to seek for financial knowledge because one is waiting for miracles is detrimental.

6. Lack of money-making ideas.

One way to make money is “idea”. An idea that solves a problem will make you money and if you are financially intelligent enough- wealthy. You are truly poor only when you lack ideas. Facebook is an idea of Mark; Coca-cola is someone’s idea, Honda automobile is someone’s idea. Great, innovating ideas get you into money.

7. Lack of financial knowledge.

You are only enslaved by what you don’t know. The poor lack the basic knowledge of how to make money and how to make money work for them; thus remaining in poverty. If you know what you don’t know – that is a call to seek knowledge and knowledge is only power when it is applied.

WHAT IS THE WAY OUT?

Discipline.

It may sound simplistic but if something seems simple – it will often require a great deal of attention. Very few people on planet earth are disciplined in their commitment to learning and earning.

Are you disciplined enough to keep working with the principles of wealth creation?

Yes, this is one of the virtues that the rich possess that keeps them on top of their game.

12 words FI

Twelve Words That Locked All Your Money Up

4 min read

The mind works in unfathomable ways, words are the command of life itself, the command of money too. Not knowing these twelve words that locked all your up isn’t a good thing.

Some years ago I had a light bulb moment, my eyes lit up as I listened intently to the financial intelligence expert who spoke on investments, financial intelligence, and passive income. I was in my 20’s and I had never understood what those words meant and how they impacted my chance of escaping poverty and achieving everything I dreamt of. 

If I didn’t understand those basic money principles, how could I make them work for me? The truth is, most of the principles of financial freedom have been codified into words.

Understanding and making use of these words (codified principles) in our daily decision making is what helps us achieve financial freedom. Let’s talk about some major ones.

Financial Intelligence is one of the phrases that changed my perspective on how money works. Just as you need emotional intelligence to make your relationships thrive, you need financial intelligence to make the right decisions concerning money. There is a right way to think about money – learn it!

One of the major concepts financial intelligence affords you is a basic understanding of TAX. Tax is one of the most mysterious money-words. The rich try to avoid it and the poor have no clue how it works. But just because you don’t know a substance is poisonous doesn’t mean it won’t hurt you. Whether you are self-employed or a businessman, taxation influences your financial freedom in a great way.

Passive Income is a phrase that confuses a lot of financial illiterates. Passive income is often seen as ponzi scheme to some folks and this a great injustice to financial intelligence. Just as you work actively to generate income, passive income is generated when you’ve invested money (into ventures).

Owning one percent (1%) of the shares at Google makes me a billionaire; not because I code or write algorithms but because what I invested will yield ROI (Return on Investment).

Yes, there is no form of business venture or investment that does not have a level of RISK in it. Many people run away from risk without knowing that risk is a part of life.

Mark Zuckerberg said that the greatest risk is not taking any risks. The wisdom here is to take calculated risks.

Partnerships: the backbone of most wealthy individuals is the strategic partnerships that they have other people. Research shows that businesses that were started by two or more people have a higher chance of being successful than that of a sole proprietor.

The goal of having a partner is to complement your skill and personality deficiency. You don’t partner just for partnering sake; you partner because there is something unique that your partner can offer.

BRAND: what if you decide not to enter a partnership, then it is important to develop a very strong brand (read more here -5 Reason You Are Probably Still Poor).

Actually, it’s not only single founders that should develop a brand. Your brand is the projection of who you are and your value. Having Donald Trump’s (before he became President) name on any real estate implies a Gold Standard. You like it or not, that’s what his brand is. The more your brand is worth, the higher the chances of you achieving financial freedom.

VALUE: the more valuable your brand is, the more financial returns it brings to you. Someone told me recently that money responds to value. So instead of chasing money, why not focus on adding value. Mark Zuckerberg is quite wealthy today because of the amount of value he brings. That’s the same reason why some top athletes make considerably more money than their teammates –the extra value they bring to the team.

I was at a conference some years ago, where one of the speakers said that ‘because you are worth something does not mean that people will value you the same way’.

Just because you see yourself as worth something does not mean other people will see you as such.

A process of bridging the gap is NEGOTIATION.

Negotiation has to do with seeing things from the perspective of your business partner and leveraging on that to get whatever you want. The only way you can get what you really deserve is by negotiating for it. Ask Donald Trump why he wrote the book “The Art of the Deal”.

The major key to successful negotiations is COMMUNICATION. Okay.

I can hear someone say “Is it not just about talking or speaking?”

Communication is probably one of the most underrated skills; no wonder the Toastmasters International makes it their focus.

Excellent communication skills are essential to pitch your ideas to investors, to cast your vision to your team. It is practically impossible to influence people without being skillful at communicating.

After communication, MARKETING is probably the next most important word for an individual or a business.

The truth is, we are all selling something. How well you can sell yourself will influence the rate at which you attain financial freedom. It’s not surprising that Fortune 500 companies spend millions of dollars annually as their marketing budget.

Marketing is about sharing stories; stories that will ultimately convince people to buy your product or service. What sharing stories also does is to help expand your NETWORK.

Entrepreneur Dan Lok said that he will rather spend time with people he has a common future with than people he has a common past with.

The more valuable your network is, the more your chances of escaping poverty and achieving financial freedom.

We probably have been talking about a lot of ideas and “soft stuff” but what makes them all work is EXECUTION.

A renowned NASA scientist said that “one test is worth ten thousand expert opinions”. Execution eats ideation and planning up for dinner. Execution is where the juice is.

There are thousands of other words – codified principles – that their understanding and correct application will help you attain financial freedom.

Imbibe these words and see as they revolutionize your money life.

service2wealth

The Service-Wealth Proportion as a Principle for making Money.

5 min read

I am sure you would like to know the odds of if you’d end up wealthy or if… you know, end up otherwise, who wouldn’t like to know? There are several combinations of ways to know but the most objective and visible way to know is the service-wealth proportion and it is a proven principle for making money.

The ultimate goal for most people is to be financially free – to continually make more money, to live a desired and comfortable life. No one can deny the sense of fulfilment and deep satisfaction derived when bills get paid without anxiety, agitation or pressure from the service providers or creditors. 

Having money sounds good, but making enough of it is a hurdle for a lot of people. 

Make no mistake, wealth creation is not as easy as ABC but it is definitely not rocket science.

The problem most people have in their quest of becoming wealthy is their foundation—parents and school value proposition that has constituted their fundamental belief about wealth. 

Parents invest money to train their children in schools but the schools only teach the functions of money and hardly “How to make money”, so the best they become are employees—salary dependent.

When you look at the billionaires, you become curious about how they made it and keep multiplying their money. 

There is no special secret under the sun. Most of the millionaires and billionaires that you know (or not) followed principles, principles that became their foundation in accumulating great wealth over the years. 

There are a number of “money laws”, but my focus will be on the law of service in this write-up.

Where money is concerned, service is a system set up to meet the specific needs of people over a period of time with the goal of making profit in the end. For instance, car hire is a service set up to solve the problem of people who need mobility but don’t have a car or can’t use their car at that moment. This service runs for a period of time, yet the goal is to make profit in the end. 

Any service you render that only benefits the receiver is called “Charity”.

When your service solves people’s problem, it will increase your income level (it does not necessarily solve your expenditure problem – see how to do that here – Solving the problem of recurrent expenses and giant expenditures).

Every billionaire (excluding inherited wealth) renders some sort of service or sell product(s), and these services make them rich(er) and grow their net worth yearly.

No wealthy person accumulates wealth without solving specific needs in society, they are known with a specific product/service that benefits people. Services can be tangible or intangible as is the case with Microsoft or Google.

In Nigeria for example, the following billionaires are household names with their services:

  1. Aliko Dangote  –          Sugar, flour, cement.
  2. Mike Adenuga  –         Telecommunication, petroleum
  3. Folorunsho Alakija –  Fashion industry, oil.
  4. Femi Otedola  –    Petroleum.

The services they render are known, reaches and benefit a lot of people and enrich their lives. Notice that these services are still relevant. 

As long as your service(s) make lives better, you will make (more) money from it. Therefore, when you fail to create a sustainable system that offers quality and functional service, you may have failed at your chance of becoming wealthy. 

Service is proportional to wealth creation. The more people you serve, the more money you are likely to make.

To put it into perspective, a tailor who sews clothes by himself will serve a limited number of clients, because he is limited first in his mind and consequently by the system he uses to deliver service; in contrast with another tailor who employs hands to sow and supervises, yet their income will pale when compared with an entrepreneur who builds a website/app that links tailors to “anyone” who needs such services (an on-demand model similar to Uber or Taxify). You get the point! 

THE SIGNIFICANCE OF SERVICE

Your net worth is directly proportional to the service that you provide, how valuable the service is and more importantly how many people use your service(s). 

Imagine a world without Facebook, Twitter, Instagram, WhatsApp, Telegram, Fiverr and others. You can relate with Facebook connecting several hundreds, thousands, millions and billions of people. These social media platform made it easy for you to reach anywhere in the world right from where you are. 

Mark Zuckerberg became a billionaire (he became the world’s youngest self-made billionaire in 2007, at age 23,) by solving a specific need and optimizing the services provided per time. Facebook has over 2.6 billion active users in the first quarter of 2020 according to an article published by J. Clement in April 2020.

Imagine the number of homes using Dangote’s products in Nigeria – cooking oil, salt, sugar, pasta, cement and flour. With an estimated population of over two hundred (200) million, if about a hundred (100) million people in Nigeria use his products daily – it is not hard to imagine the outcome.

To make money to the point where you are financially free is difficult without providing service on a large scale – reaching a lot of people. A system that delivers value consistently and constantly will increase your income and consequently make you wealthy. 

THE SECRET TO EFFECTIVE SERVICE

Billionaire secrets are hardly secrets, they are only principles to which they have constantly devoted themselves, this is why they are ahead of others and these secrets are the foundation upon which their beliefs concerning wealth creation stand.

The following are the principles for effective service to multiply your income:

1.  The law of need

Jack Ma was at a point in his life, a young Chinese man who had never come across the internet. After a series of failures in his life, he studied the opportunity of creating E-commerce for the local market in China. He was able to persuade seventeen (17) other people to start the Alibaba that we know today. Alibaba became the channel for local marketer’s to access China products all over the world.

The service that will generate money must identify specific needs or gaps to be filled.  Jack Ma and Jeff Bezos (founder of Amazon) built a service delivery system riding the wave of internet and created a whole new way of shopping that doesn’t need you to move physically.

    2. The law of control

You must be in charge of the system or be able to control the service to deliver promised value consistently. Jeff Bezos started by making books accessible online; more like an online library, and after serving several thousands of people at the early stage, he built the system to include all categories of merchandise and goods. As Amazon grew, the system enlarged to take charge of other retailers and became a huge system with sub-systems of value. 

When you lose control over your service, you lose your money.

Finally, the meaningful and value-full service that you render to people will greatly multiply your income. Ensure that your service is adding value to their lives continuously and in the end, you will have more money in your pocket.