1 INTRODUCTION.
2. WHAT DOES IT COST MONEY?
3. TO MAKE MONEY.?
1 INTRODUCTION.
What Is The Thought? Everyone thinks about me. Some blink and sink because of me. Many chase seriously after me. Others make loud profit through me. There are losers and quitters from me. Some do walk against me. Everyone makes way to me. I am in their thoughts of me; By me, For me and To me. I am 'MONEYCRACY'
.2 WHAT DOES IT COST MONEY?
I). We were taught at school that money is like a commodity. It's price is determined by demand and supply forces. That's private sector marketing economics. Simple model market economics.
There are non - market forces that impact value/ cost of money. Often political- economic in design. Oil Carter by OPEC can regulate oil supply to the world. They influence value of currencies for economies which are oil mono product.
ii/. What Does It Cost Money ?
(a). Money Cost. This refers to the sum of monetary expenses incurred to produce a commodity. It's imputed cost of related contract.
Total Cost = Variable + Fixed Cost. Variable cost is operating cost of production at different levels. Like cost of buying raw materials to produce given output. It includes but not limited to labour costs, service and maintenance costs, transport etc Operating or running costs.
Fixed Cost covers cost of construction, buying plant, machinery, etc . They don't necessarily change as product levels increases.
Average Cost. Both variable and fixed factors need to improve capacity utilisation. Especially fixed cost have their life span. And their cost recovery to be realised before then. As well as its depreciation cost . These will put pressure on price if capacity in not fully utilised. And vice versa. What does it cost money?
(b). Opportunity Cost.
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Opportunity cost is value of next best alternative, when a decision is made. It's the potential benefit that an individual or entity loses by choosing one alternative over the other.
One of ways money makes money is to grab opportunity and multiply the Cost advantage with its leverage. . This is key. Pursue vigorously, what gives you edge over other competitors. You're double honours: skill and opportunities comparative advantage. Ask legends like, Micheal Jordan, Mohammed ALI, Leon Spinks, Utsian Bolts, , etc. You're money that makes more money..The opportunity cost should be less than 1.
(c). Take calculated Risks. The only place where failure is guaranyeed is not taking risks. By principle: If you want 100 risk 10, 1000 risk 100, 10000 risk 1000. That's the money game exponential attraction.
3. TO MAKE MONEY?
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I). The economy, whether, Private or Public liability company; Employee and or Self Employed . All run scarcity and choice of elementareconomics.
Economic Cost. It covers overall profit or loss of choosing one alternative or the other. This is crucial to how money makes money. (b). Make wise decisions. Any idle money not making for you is like an ' OWN' goal. Time is money. Find how to do part time while running business, schooling, or employer/ employee. Understand , apply economic cost wisely. Learn new skill to improve business and introduce new commodity. Example, Point Of Sale ( POS) is latest business ,fashion. Generate more money using cash at hand.
When business' is slow , use the time to do product marketing. Advertise your goods. If the customer don't find you , it's time to go and bring them.
(c). Join proven Net Working group. School over, and you're free, find education driven , skill -hungry to impact organisation. You can start by arrangement, without having to buy any slot on registration. Learn and grow from Direct to Matching bonus status in the compensation plan That's how you start making money while you're sleeping. Money makes money.
(d,). Be Forwarded Looking. No pain. No gain. Money gain is the game. Defer luxuries Use the opportunity cost to reshape life . Where, it's affordable, rent a two instead of three bed roomed flat. Put the money in business. Where you can , buy a small car for a start. Then put extra money into Estate business'. etc
( d). Don't wait until you retire. Diversify income. Start small. First attend workshop, seminars on related expertise. There are options: fish farming, poultry, piggery, livestock etc. If you're a school teacher, prepare children goodies like, soft cake, soft cake. .etc. Money makes money.
Ii). The single most powerful asset we have is the mind. If we train the mind, it can create enormous wealth. The difference between a rich and a poor person is how they use their time.
Find time to attend workshop, seminars and conferences. An idea can change' your whole life.
Be sensitive to people around you. Your help might be person next to you.
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