The Fundamental Principle behind the Creation of Wealth
The idea you have is the replica of the seed that you are holding. There is nothing special about the seed, but the potential within it have the capacity to yield the biggest tree that you can imagine.
Likewise your idea is a powerful seed that can build an empire. It is like a virgin land ready to be ploughed for a commercial crop production. Putting the virgin land under the right conditions will cause your crop to grow well. Meaning the right medium will make your idea develop into a viable venture. The idea you have can have a giant within it that can develop into the biggest industry you can ever imagined. Sometimes a single idea is enough to turn your fortunes around whereas sometimes a combination of different ideas can be the key to building a successful venture.
Jim Rohn puts it this way;
Ideas can be life-changing. Sometimes all you need to open the door is just one more good idea.
However all great achievements are born out of simple ideas. That simple idea you have can turn your life around in terms of your financial future. Ideas are like seeds. For instance, you need a single tomato seed to germinate a tomato plant. This single tomato seed produces a number of tomato fruits which intend contains an uncountable number of tomato seeds. Each of this tomato seed can start the regeneration of a whole new generation of tomato plants. This cycle can continue till the end of time. The regeneration of the seeds is the translation in how multinational companies are built in the business world. This principle is what an excellent and a viable idea is built on.
Every single innovation, technology or invention started with an idea. The fact is why is it that some people are dead but their legacies, inventions, technology or innovations still exist? This is because their ideas were like a single tomato seed and it has replicated itself till date.
Therefore to be able to create wealth means that you need to look into our environment, communities and society in general and identify what is in need by people. The need should be such that people are willing to pay for them. Not all work results in successful wealth creation. You can work so hard but you can still be poor because may be what you are offering is not so much in demand for people to patronize. Therefore the type of dream you build will definitely determine your level of wealth creation. Is your idea such that people can suspend its patronage when there is economic crisis or when they face financial difficulties or it is on high demand all year round.
Therefore to create wealth you need to,
Identify the Gold from the Dust: – To experience how gold is mined will give you a fair idea the systematic stages taken before the gold is born. The question is how you can identify that the dust or earth crusts contain gold. The earth is so vast to the extent that it can take us ages before we can identify which part of the earth crust contains gold. That means you need to have the right equipment to identify where the gold is. The question is where do you start from? The gold is found in dust. The dust overshadows the presence of the gold making it difficult to identify the gold. This means gold is dust. This signifies the fact that opportunities are wrapped in different skin.
Thomas Edison puts it this way, “opportunities are missed by most people because it dressed in overalls and looks like work”.
This scenario signifies that there are a lot of hidden treasures in the form of ideas embedded in us as human beings and in the form of opportunities in our societies or communities. Surrounding us are opportunities but they need to be identified from a lot of junk. The hidden treasures in the form of opportunities are so close to us to the extent that we walk over them every time but are not able to single it out as it can be difficult to differentiate the gold from the dust if you don’t have the right equipment’s.
Therefore to be able to identify the hidden treasures in the form of opportunities as is difficult to identify which part of the earth crust contains gold dust is a prominent step to wealth creation. In the case of the mining of the Gold, how to extract or separate the gold from the rocks or gold dust is the challenging aspect in gold mining.
Therefore to identify the opportunity is the first step to wealth creation but to make the opportunity productive is the most difficult aspect. How do you do that? That is your identified opportunity should fulfil a need.
Remember there are always opportunities but the ability to identify and make such opportunities productive is the gateway to wealth creation
Identify What is in Need: – The ability to identify what is in need is a step in creating wealth. There is a saying, human need are insatiable. Human needs are in constant demand and therefore to identify what is in need will create the platform for people to demand it. What do people need in exchange for money. After identifying what people need, you need to convince them that it is the best to satisfy their particular need. How can you do that? That is where the identified need should fulfil a need and should have high demand to the extent that the options of the consumer are very limited to your idea. Why is it that Apple, Microsoft and other businesses still on top of their game? They are just simply providing the needs of people in a special way. Therefore to identify what is in need means you are trying to solve somebody’s problem.
Finding Solutions to Someone’s Problem: – The mere fact of identifying what is in need creates a platform for you to address somebody’s problem. The question is, are they ready to pay for that problem you want to solve? Even if they are not ready to pay for the need, are you willing to convince them and give those reasons why they need it. The fact is as human beings, we always embrace anything that makes life easier. Therefore any problem you solve that makes life easier depicts the fact that people will pay you in return.
The key point here is that, the ability to solve somebody’s problem provides a way for you to create wealth and when we solve it, people must be ready to pay for the problems solved. This leads to the fact that you need to identify the kind of people or the group that are likely to patronize the identified need.
Target Group: – In business sense, target group is the group of people you intend to sell your goods and services to. Meaning if for instance you sell exercise books your target group are students. Wealth can therefore be created if you can identify the target group that you want to solve their problems. Which people are you targeting to solve their problems? How many people are you willing to solve their problems? The fact is the bigger the target group the larger the platform to create wealth.
Meaning the size of the land determines the size of the harvest.
Therefore to be able to create wealth, we must solve the problems for as many people as possible. Let’s consider the company Nike. Its target group is the youth. The youth are able to buy Nike products making Nike one of the most successful sportswear companies in the world. The fact of the matter is, their target group i.e. the youth is so big to the extent that the ability of Nike to satisfy their needs has resulted in the success story of the sportswear giant.
Therefore to effectively create wealth, you need to identify your target group and try to solve their problems for as many people as possible.Because if we solve the problems for very few people, we are unlikely to create wealth except those people are extremely rich such that how much they are willing to pay you is enough to make you rich which rarely happens.
Therefore in conclusion, your idea is your fortune in your hands. It has the capacity to build an empire. Putting your idea into action is the first step to making your dream a reality. Persistence and consistency is the key and a powerful tool to make your adventure a success. The fact is never let the challenges ahead prevent you from pursuing your dream especially money.
Owen Laughlin writes, money never starts an idea, it is always the idea that starts the money.
Therefore with a strong desire, passion and determination to succeed coupled with a great idea, you will be able to create wealth capable of fulfilling your financial dreams which will lead to a leaving a legacy for your family, friends and society at large.
The world is waiting for your idea to make the world a better place. Don’t die with your ideas as the graveyard is the best place for finding great ideas and inventions that never had the chance to be presented to the world.
Oscar is True African Heritage Awards nominee and TV Talk Show Host. He is a Media Persona, a professional Master of Ceremony, Inspirational Speaker and an Entrepreneur.He is currently the CEO of Train2inspire Consultancy (T2i) which is a business training firm for self-employed professionals, SMEs and Corporate Organizations’ based in London. At the moment T2i have offices in Botswana, Ghana and Nigeria. T2i focuses on the training needs of businesses in areas of Management, Leadership, Customer Services, Sales, Change Management, Business Coaching, Church Empowerment and Growth etc.
For more info please visitwww.trainsinspireconsultancy.com.