Professional Documents
Culture Documents
Introduction
Steps towards becoming an entrepreneur
In and out of managing a business
Sustaining a business
The church approach of creating kingdom entrepreneurs
INTRODUCTI
ON
2
Deuteronomy 8:18
But thou shall remember the Lord thy God: for it is he that giveth thee
power to get wealth that he may establish his covenant which he sware unto
thy fathers, as it is this day.
In the foregoing, the Bible talks about power to prosper. It is a good thing to
talk about prosperity and to write books on the topic prosperity , lot of
Christians want to succed spiritually , financially and every otherwise in this
piece we would like to bring to your conciousness to the fact that the subject
of prosperity must be balanced with the subject of holiness so that after we
have prospered, we would not go to hell fire. The bible mentioned here that it
is the lord that give power to get wealth so that he can establish his
covenant , but the introductory part of the verse is an admonition to
remember the Lord our God i.e when He made us wealthy according to his
promises and covenant he made with our father Abraham we should not
forget Him who is the king in our kingdom .
Becoming an entrepreneur for kingdom expansion is all about using the God
giving knowledge to make wealth and to remember the giver of the gift afer
making the wealth .
Psalm 84:11
For the Lord God is a sun and shield; the Lord will give grace and glory:
no good thing will he withhold from them that walk uprightly.
From the above , the psalmist mentoned that our God is clothed in glory and
there is no reason why His children should wear rags ; it is absurd to see a
child of the king in rag , the child of a wealth man that is still with his father
(not prodigal ) can not be wearing rag . Therefore , wealth is your portion and
you are to wallow in prosperity .In Psalm 24:1 the psalmist says that , The
earth is the Lords and the fullness thereof: the world and they that dwell
therein. If God owns the earth and the fullness thereof, and I am His son, I
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must prosper. God want to progress the gospel , then you must prosper in
order for the kingdom to be expanded .
There are many people that have the keys of poverty in their hands and until
they drop them, there is absolutely nothing God can do to help them. God has
so designed His plans that He places first things first. A lot of people claim
that Abrahams blessings are theirs, the question is, will they allow God to
run them through what He made Abraham to go through? Abraham first
became a friend of God. He was righteous, he had faith and then God blessed
him. Nowadays, people want to do it the other way round. They want money
first. They want to be comfortable first before they serve the Lord.
Unfortunately, it does not work that way. Anybody that cannot serve the Lord
when he or she is poor will not be able to serve Him when he or she gets rich
reason fot his book .
The bible says that what ever we laid our hands on shall prosper ,therefore
when a chritian that is born again , that is righteous , a friend of God and with
fath .
Mathew 6:33
Seek ye first the kingdom of God and His righteousness and he will add other
things to you , Jesus futher clearifies those other things which are things that
majority of us are chasing all about are money , fame , material things , he
mentioned that our heavenly father knows that we needed these things
.Becoming an entreprenum for kingdom expansion would teach your hand
how to make wealth for kingdom expansion .
Someone one might say that he does not need to create more business , i will
share with you five key lessons God has taught me in wilderness years
1. Poverty and lack are not beneficial to you or anybody else.
2.
CHAPTER
2
1.0
[8] When Simon Peter saw this, he fell at Jesus' knees and said, "Go away
from me, Lord; I am a sinful man!" [9] For he and all his companions were
astonished at the catch of fish they had taken, [10] and so were James and
John, the sons of Zebedee, Simon's partners.
Then Jesus said to Simon, "Don't be afraid; from now on you will catch
men." [11] So they pulled their boats up on shore, left everything and
followed him.
When you find a problem and you solved the problem you become
influencial , they left their boat and follow Christ ,because Christ solved thier
problems .Poverty was just knocking at the door of Peter , lack was
knocking , he was about to be disgraced as a proffesional fisherman that
come back home to meet his wife with empty net , with the help of jesus
christ he used the same net with the same boat in the same sea at the same
spot to catch a net broken fish , this move Jesus Christ out of the natural class
to supernatural class and a genus and they followed him .People remembered
you based on the problems you solved and the problems you created .
John 1:45-51
45
Philip found Nathanael and said to him, We have found him of whom
Moses in the Law and also the prophets wrote, Jesus of Nazareth, the son of
Joseph. 46 Nathanael said to him, Can anything good come out of
Nazareth? Philip said to him, Come and see. 47 Jesus saw Nathanael
coming toward him and said of him, Behold, an Israelite indeed, in whom
there is no deceit! 48 Nathanael said to him, How do you know me? Jesus
answered him, Before Philip called you, when you were under the fig tree, I
saw you. 49 Nathanael answered him, Rabbi, you are the Son of God! You
are the King of Israel! 50 Jesus answered him, Because I said to you, I saw
you under the fig tree, do you believe? You will see greater things than
these. 51 And he said to him, Truly, truly, I say to you, you will see heaven
opened, and the angels of God ascending and descending on the Son of
Man.
CHAPTER
3
9
WHO IS AN ENTREPREMEUR ?
So many writers has in the time past define who an entrepreneur is , we
would look at view definations and then summarise who is a kingdom
entrepreneur .
1. Joseph Schumpeter
An entrepreneur is a person who destroys the existing economic order by
introducing new products and services, by creating new firm or organization,
by exploiting new raw materials.
2. Williams Bygrave
An Entrepreneur is someone who perceives an opportunity and create an
organization to pursue it .
3. Babson College
An Entrepreneur is person way of thinking and acting that is opportunity
obsessed, holistic in approach and leadership balance for the purpose of
wealth creation .
Who is a kingdom entrepreneur ?
I will define an Entrepreneur using the quadrant below as an illustration
an entrepreneur is a person with a clear mission, who is conscious of moving
from the left side of the Quadrant to the Right hand of the Quadrant by
a) Creating the right mind set,
b) Acquiring the necessary skill,
c) Building a team and
d) mastering the working mechanism of the B-I Triangle in order to
create wealth for himself and others and for the purpose of feeding the
sheep of the Lord and projecting the things of the Kingdom of God .
E
S
B
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This idea brings me to the concept of the Cashflow Quadrant (see the image
above). The letters in each of the quadrants represent:
E-Employee
S-Self-employed
B-Business owner
I -Investor
Each of us resides in at least one of the four sections of the Cashflow
Quadrant. Where we are is determined by where our cash comes frompaychecks or passive income .
Though financial freedom can be found in all the quadrants, the skills of a
business owner and investor will help you reach your financial goals more
quickly.All the rich men in the universe follows the commandment of God in
the book of Genesis , God gave Adam work (God planted a garden) and gave
the following commandment for increase and expansion Genesis 1:28
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And God blessed them, and God said unto them, Be fruitful, and multiply,
and replenish the earth, and subdue it: and have dominion over the fish of the
sea, and over the fowl of the air, and over every living thing that moveth upon
the earth.
, after destroying the earth with water God also commanded Noah to follow
the same partern Genesis 9:7 As for you, be fruitful and multiply; Populate
the earth abundantly and multiply in it."
1. be Fruitful
2. Multiply
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He gave them authority , he licenced them to do his work and they came back
to confirm that truly demons bowed down for them .
Jesus Christ ministry (he had a mission which he called his meat , he has a
message for the world whch is the message of the kingdom , he formed a
team and them teach them about leadership )
Notice that the word product is used to label the smallest section, and the
word mission is one of the largest sections--as well as the foundation for the
Triangle. This is because the product is the least important item in the B-I
Triangle, and the mission is the most important ,your mission determined the
type of your team , leadership , cashflow and whatever you have in the
business . The mission is the spirit of the business; it is the heart of the
business. Without spirit and heart, most entrepreneurs will not make it,
simply because the road ahead is a hard one.
The world is filled with great products that failed. The products failed simply
because they do not have the power of the B-I Triangle behind them and that
is mission statement .
When you study most successful businesses, you will most likely find a
complete and vibrant B-I Triangle in action. A great business will have a
strong mission, great leadership, a competent team of managers who
work well together, excellent cash flow and financing, clear and effective
13
businesses. There are also people in the E and S quadrants who become very
rich attaching themselves to B-quadrant businesses. For example, Aliko
Dangote is an S (and, in his case, S stands for superstar as well as selfemployed or specialist), but much of his wealth comes from his endorsements
of B-quadrant businesses and some politicians . The Dangote Group was
established as a small trading firm in 1977. Today, it is a multi-trillion naira
conglomerate with many of its operations in Benin, Ghana, Nigeria, and
Togo. Dangote has expanded to cover food processing, cement
manufacturing, and freight. The Dangote Group also dominates the sugar
market in Nigeria and is a major supplier to the country's soft drink
companies, breweries, and confectioners. The Dangote Group has moved
from being a trading company to being the largest industrial group in Nigeria
and includes: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
The same is true with some movie stars. They are S-quadrant individuals but
associate themselves with B-quadrant businesses, such as TV stations .
Think Expansively
An entrepreneurs, must think expansively this includes seeing what is
possible and making it happen. Entrepreneurs see the vision and call it good
sense and inevitable. The rest of the world calls it innovation .
So many times, innovation really results from common sense put together
with uncommon thinking .Bishop Oyedepo once mentioned that comon sense
is the sense that is not common . It's creative, but it's about innovative
assembly more than anything else .
Thinking expansively is just another way to innovate . God in the book of
Genesis think expansively , after the great inovation of the earth , He
discovered that the earth needed light , he discovered that there must be a
firmament between the water on the earth and that of the heaven and he latter
saw that every thing He does were good . Sometimes I ask myself, "What
else can I include in my thought process to make it more comprehensive? Is
there anything I can add that might enhance the project or idea I've got
spinning around in my head? " Many times, I will tell myself that something
isn't quite right yet, because that automatically opens the door for more ideas
to enter. I ask myself, "What am I not seeing? What else is possible?"
Sometimes the answers wind up being innovative ideas. It's not necessarily
some secret process, but it is a process, and it requires concentration.
15
Seeing something and knowing it could be different or better is the first step
to visionary status
As I've said before, learn your lessons from as many sources as you can.
Think and learn expansively. It won't be expensive, but it can give you some
big returns.
CHAPTER 4
The Key to Great Wealth
16
The above Figure 1 is a diagram that rich dad called the B-I Triangle, the key
to great wealth.
The B-I Triangle was very important to rich dad because it gave structure to
his ideas. As he often said, There are many people with great ideas but few
people with great fortunes. The B-I Triangle has the power to turn ordinary
ideas into great fortunes . The B-I Triangle is the guide to taking an idea and
creating an asset. It represents the knowledge required to be successful on
the B and I side of the CASHFLOW Quadrant. It has been modified a little
over the years. This triangle answered the following questions
1. How is it that one man (like Alinko Dangote ,Wale Adenuga etc) have so
many businesses and other people could barely handle one?
2. Why did their businesses grow while other peoples' stay small?
3. How do they have free time when other business owners work
constantly?
4. Why do so many businesses start and then fail so quickly?
Using Alinko Dangote for example, he had a food processing, cement
manufacturing, and freight. The Dangote Group also dominates the sugar
market in Nigeria and is a major supplier to the country's soft drink
companies, breweries, and confectioners. The Dangote Group has moved
from being a trading company to being the largest industrial group in Nigeria
and includes: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour
and a trucking company . It is amazing how many businesses he could run
all at the same time. Let us take a brief knowledge from Wale Adenuga , in
Nigeria he is the owner of conoil , globacom and ETB which latter merged
with sterlin bank , How did he run it ? The B-I Triangle answered these
questions it explain how one could start, own, and manage so many
businesses at the same time .
Explaining the B-I Triangle
Obviously, the amount of material that could be writtenand needs to be
writtento cover the information represented by the B-I Triangle is more
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than this book could cover. However, we will review the basics. Let us pick
and explain the content of B-I triangle starting from the foundation .
1.The Mission
Rich dad said, A business needs both a spiritual and a business mission to be
successful, especially at the beginning. the mission is the begining of this
triangle and it is the most important aspect of the triangle and why it was at
the base. If the mission is clear and strong, the business will weather the
trials every business goes through during its first ten years. When a business
gets big and it forgets its mission, or the mission it was created for is no
longer needed, the business begins to die.
Rich dad chose the words spiritual and business. to describe mission He
said, Many people start a business only to make money. Just to make money
is not a strong enough mission. Money alone does not provide enough fire,
drive, or desire. The mission of a business should fill a need that the
customers want, and if it fills that need, and fills it well, the business will
begin to make money.
When it came to a spiritual mission , Henry Ford was a man driven by a
spiritual mission first and a business mission second. He wanted to make the
automobile available to the masses, not just the rich. That is why his mission
statement was Democratize the automobile. When the spiritual mission and
business mission are both strong and in line, the combined power builds huge
businesses. Dangote group has a mission statement that goes thus To be a
world-class enterprise that is passionate about the standard of living of the
general populace(spiritual mission) and giving high returns to
stakeholders (business mission ).This business is succesful in africa because
they are passionate about the standard of living of the general populae
(spiritual mission ) before the business mission of giving high returns to the
stake holders .
Spiritual mission and business mission were closely in line. Dangote spiritual
mission was to provide standard of living for the populace .The mission of a
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business was very important although it was hard to see and to measure
Without a strong mission, a business is not likely to survive its first five to ten
years. He also said, At the start of a business, the mission and the
entrepreneur's spirit are essential for the business to survive. The spirit and
mission must be preserved long after the entrepreneur is gone, or the business
dies.For instance , Jesus christ died 2015 years ago and his mission is still
runing till today, the gate of hell must not be able to stand against it . Rich
dad would say, The mission of a business is a reflection of the spirit of the
entrepreneur. General Electric was a company founded from the brilliance of
Thomas Edison, and it has grown by preserving the spirit of the great
inventor by continuing to invent new and innovative products. Ford Motor
Company has survived by continuing in the tradition of Ford. Businesses
like UAC Plc is still suffiving today because of the mission and vision of this
great organisation .
Today, I believe that Bill Gates's spirit continues to drive Microsoft to
dominate the world of software. By contrast, when Steven Jobs was pushed
out of Apple and a management team from the traditional corporate world
replaced him, the company went downhill rapidly. As soon as Jobs was
brought back into Apple, the spirit of the company returned, new products
came forth, profitability increased, and the share price went up .
Although the mission of a business is hard to measure, impossible to see, and
for all practical purposes an intangible, most of us have experienced it. We
can identify the mission of someone who is trying to sell us something for a
commission as contrasted to someone trying to help answer our needs . As the
world becomes crowded with more and more products, the businesses that
survive and do well financially will be businesses that focus on serving and
fulfilling the company's mission and their customers' needs, rather than just
increasing the company's revenues.
CASHFLOW Technologies, Inc. the company that Kim, Sharon, and I
created to bring you this book as well as our other financial-education
productshas the following mission: To elevate the financial well-being of
humanity. By being clear and true to the spiritual and business mission of
this company, we have enjoyed success that goes beyond luck. By being clear
on our mission, we attract individuals and other groups aligned with a similar
mission. Some people call it luck I call it being true to our mission. Over
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the years, I have come to believe that rich dad was right about the importance
of having the spiritual mission and business mission be strong and in line.
In all truthfulness, not all of my businesses have as strong a dual mission as
CASHFLOW Technologies, Inc. does. Other businesses in which I own
interests have stronger business missions than spiritual missions.
I now realize that my nylon and Velcro wallet business had a very different
mission than I first thought. The mission for building that business was to
give me a fast education about building a worldwide business. That business
fulfilled that mission rather painfully. In other words, I got what I wanted.
The business grew very quickly, success was fast and furious, and so was the
crash. Yet, as painful as the experience was, I realized that I had achieved my
mission. After I dug myself out from under the rubble and rebuilt the
business, I learned what I set out to learn. As rich dad said, Many
entrepreneurs don't really become business people until after they lose their
first business. In other words, I learned more by losing the business and
rebuilding it than I did by being successful. As rich dad said, School is
important, but the street is a better teacher. So, my first big business venture
after leaving the Marine Corps was expensive and painful, but the lessons I
learned were priceless. And the business had fulfilled its mission.
A company's mission helps it maintain focus. In the early stages of
development, many factors can cause distraction. The best way to get back on
track is to revisit your mission. Does the distraction affect the achievement of
your mission? If so, you must deal with the distraction as quickly as possible
so that you can re-focus your efforts on the overall mission. it is in the
mission of the company where the entrepreneur 's spirit is found.
The Team
Business is a team sport Investing is also a team sport. so the problem with
being in the E and S quadrant is that you are playing the game as an
individual, playing against a team.
Rich dad would draw the CASHFLOW Quadrant to illustrate his point: the
educational system was: In school, they train students to take tests on their
own. If a child attempts to cooperate at test time, it is called cheating.' Rich
dad would also say, In the real world of business, business owners cooperate
at test time, and in the world of business, every day is test time.
20
21
One of my greatest teachers was Dr. R. Buckminster Fuller. Dr. Fuller set out
years ago to find what he called the building blocks of the universe. In his
search, he found out that squares and cubes do not exist in nature. He would
say, Tetrahedrons are the basic building blocks of nature.
When I look at the great pyramids of Egypt, I understand a little more about
what Dr. Fuller was talking about. While tall skyscrapers come and go, those
pyramids have withstood the test of tens of centuries. While a skyscraper can
come down with a few well-placed sticks of dynamite, the pyramids would
not budge with the same blast.
Dr . Fuller was looking for a stable structure in the universe, and he found it
in the tetrahedron.
The Different Models
The following are graphic portrayals of different business structures.
1. This is a sole proprietorship:
2. This is a partnership:
3. This is a B quadrant business:
The prefix tetra means four . In other words, it has four points. After
studying with Dr. Fuller , I began to see the importance of having structures
be in a minimum of fours. For example, when you look at the CASHFLOW
Quadrant, it has four parts. Therefore, a stable business structure would look
like the following diagram:
A well-managed business will have excellent employees. In this instance, I
say the E stands for both excellent and essential because the employees
are
responsible for the day-to-day activities of the business. The E also stands for
extension because the employees are the extension of the business owner
and represent the business to the customer .
The specialists are typically from the S quadrant. The S stands for
specialized because each specialist will guide you based on his or her
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trained area of expertise. While specialists may not participate daily, their
guidance is invaluable to keep your business moving in the right direction.
The structure has a better chance of being stable and enduring if the four
points are working in alignment. While the investors provide the funding, the
business owners must work with the specialists and employees to develop the
business and make it grow so there will be a return on the investors' original
investment.
Another interesting tetra-relationship I came across is the four fundamental
elements that make up this world we live in, which the ancients believed to
be earth, air, fire, and rain (water) . In a sole proprietorship as well as in a
partnership, in order to be successful, the individual needs to be all four,
which is difficult.
While most of us have all four elements in us, we each tend to be weighted
predominantly to one of the elements. For example, I am fire, born under the
sign of Aries and the planet Mars. That means I am good at starting things but
not completing them. By having a tetrahedron, I am better able to be
successful than if I were on my own. My wife, Kim, on the other hand, is
earth. She and I have a good marriage because she has a grounding effect on
me as well as on the people I upset around me. She often says, Speaking to
you is like speaking to a
blowtorch. Without her , I would have nothing but angry and upset people
around the company. Sharon, on the other hand, fulfills the role of air in this
company. She feeds the fire, moves the company in the right direction, and
keeps all systems running smoothly. As CEO of our company, Sharon ensures
that all four of us stay in alignment and work toward our mission. When
Mary, our operations manager, joined us, the company suddenly took off.
Mary completed the company by making sure that we delivered what we
promised. It's important to note that it took two years for this team to come
together . People came and went until the right tetra-team finally locked in
place. Once this model stabilized, the company began to radiate out, growing
rapidly and with stability.
I am not saying this is a hard and fast rule for a successful business. However,
all one needs to do is look at the pyramids of Egypt and a sense of strength,
stability, and longevity comes to mind.
25
Many people have asked why we did not create our educational board games
as electronic board games. One of the primary reasons is because we want to
encourage cooperative learning. In the real world, being able to cooperate
with as many people as possible and helping people without crippling them
are very important human skills.
While we may release an electronic game of CASHFLOW in the future, for
the moment, we are happy to encourage people to learn cooperativelyto
teach each otherbecause the more we teach, the more we learn. Too much
of our children's lives is already spent in isolation. They spend hours alone in
front of a computer, alone watching TV, and alone taking tests. We then
wonder why so many children are anti-social. To be successful, we all need to
learn to get along with many different types of people. For this reason,
CASHFLOW is still a board game that requires you play with other human
beings. We need to learn to operate as individuals as well as members of a
teamand we can always improve those skills.
Sharon's Notes
Robert has often mentioned that money follows management in the world
of business capital. To succeed, a business must have the proper expertise in
key areas .
When you do not have the money up front to hire the talent you need,
consider attracting the talent as members of an advisory board with the
understanding that once sufficient capital is raised, your team will come on
board. Your chance of success is much stronger if your management team has
a track record of success in the business or industry of your proposed
business.
Your team also includes your outside advisors. Proper guidance from your
accountants, tax advisors, financial advisors, and legal counsel is imperative
for building a strong successful business. If your business is real estate, your
real estate brokers become an important part of your team. Although these
advisors can be expensive, their advice can provide you with an incredible
return on your investment by helping you structure a strong business while
avoiding pitfalls along the way.
27
And that leads to the next part of the B-I Triangle: leadership, because every
team needs a leader .
Leadership
One reason I attended a federal military academy rather than a normal
university was that rich dad knew I needed to develop leadership skills if I
wanted to become an entrepreneur. After graduation, I went into the U .S.
Marine Corps and became a pilot to test my skills in the real world, in a place
called Vietnam. As rich dad said, School is important, but the street is a
better teacher.
I still remember the commanding officer of my squadron saying, Gentlemen,
your most important job is to ask your troops to risk their lives for you, your
team, and your country. He went on to say, If you don't inspire them to do
that, they will probably shoot you in the back. Troops do not follow a leader
who does not lead. The same thing goes on in business today and every day.
More businesses fail from the inside than from the outside.
In Vietnam, I learned that one of the most important qualities of a leader is
trust. As a helicopter pilot with a crew of four , I had to trust my life to my
team, and they had to entrust their lives with me. If that trust was ever
broken, I knew that we would probably not come back alive. Rich dad would
say, A leader 's job is to bring out the best in people, not to be the best
person. He would also say, If you are the smartest person on your business
team, your business is in trouble.
When people ask how they can gain leadership skills, I always say the same
thing: Volunteer more. In most organizations, it is hard to find people who
actually want to lead. Most people just hide in the corner hoping no one will
call on them. I tell them, At your church, volunteer to take on projects. At
work, volunteer to lead projects. Now, volunteering alone will not
necessarily make you a great leader, but if you accept the feedback and
correct yourself well, you can grow into a great leader .
Through volunteering, you can get feedback on your real-life leadership
skills. If you volunteer to lead and no one follows, you have some real-life
learning and correcting to do. If you volunteer to lead and no one follows, ask
for feedback and corrective support. Doing so is one of the greatest traits of a
28
leader. I see many businesses that struggle or fail because the leader will not
accept feedback from peers or the workers in the company. My squadron's
commanding officer in the Marine Corps would often say, True leaders are
not born leaders. True leaders want to be leaders and are willing to be trained
to be leaders , and training means being big enough to take corrective
feedback.
A true leader also knows when to listen to others . I have said before I am not
a good businessman or investor, I am average. I rely on the advice of my
advisors and team members to help me be a better leader .
Sharon's Notes
A leader's roles are a combination of visionary, cheerleader, and pit boss.
As a visionary, the leader must keep his or her focus on the corporate
mission. As a cheerleader, he or she must inspire the team as it works
together towards that mission as well as herald the successes along the way.
As the pit boss, he or she must be able to make the tough calls regarding
issues that distract the team from achieving the mission. The unique ability to
take decisive action while maintaining focus on the ultimate mission is what
defines a true leader .
With the right mission, team, and leader you are well on your way to building
a strong B business. As I said earlier , money follows management. It is at
this point that you can start attracting money from outside investors. Five
building blocks are essential to developing a strong business . Each will be
discussed separately.
3.0
3.1
3.2
PROSPERITY IS A BLESSING
Deuteronomy 28:1-14
Outstanding success is of God
It is your covenant right
It is your redemptive right
It is your kingdom right
Success is your heritage in Christ, while failure is an abuse of
redemption
Pyramid
Quadrant
4.0
3.1
4.2
1.
2.
3.
4.
5.
6.
30
(i)
1 Samuel 16:18 Then answered one of the servants and said, behold I
have seen a son of Jesse the Bethlemite that is cunning in playing and a
mighty valiant man, and a man of war, and prudent in matters and a
comely person, and the Lord is with him
(ii)
EXPLANATION:
(i) Ingenious in playing musical instruments
(ii) A mighty valiant man = courage to take major decisions.
Boldness to confront obstacles that are on your way to greatness.
Christianity is warfare.
Warfare has to do with;
Strategic planning.
Strategic thinking.
Strategic spending.
Strategic attitude.
(iv) David was prudent in matters
Discreet
Careful
Wise
Circumspect prudent in your finances and in taking decisions in order to
avoid undesired consequences.
(v)
-
5.2
5.3
CREATE A MISSION
The consciousness that you must move from the left hand side of the
quadrant to right hand side.
Study and master the B-1 triangle especially from cash flow through to
product if you are not competitive you cannot survive.
Check your attitude
Get as much experience as possible on five level of the B-1 triangle
Be optimistic as well as brutally honest with yourself
How are you at spending money
Start a business to practice on
Be willing to ask for help
Find a mentor
Join an entrepreneurship network
Be faithful to the process
Have passion (combination of love and anger)
5.4
5.5
AGREE ON A LOCATION
33
5.6
5.7
5.8
34
One of the most startling differences between the rich and the poor is the kind
of world they saw. Whatever reality is about money inside of you is the
reality of money outside of you. You cannot change your outside reality until
you change your inside reality of money.
THE GREAT LAW OF CAUSE AND EFFECT
The most application of the law of cause and defect is that thoughts are
causes and conditions are effects. Your thoughts create the condition of your
life. When you change your thinking, you change your life. Your outer world
becomes a mirror-image reflection of your minor world.
Perhaps the greatest discovery in the history of thought is that you become
what you think about most of the time. Whatever the mind of a mind can
conceive and believe, it can achieve when you think about your goal
continually and work on it every day, more and more of your mental
resources will be concentrated on moving towards that goal and moving your
goal towards you.
The discipline of daily goal-setting will make you a powerful and irresistible
person. You will develop self-esteem, self-confidence and self-respect.
THE THREE (3) PARTS OF PUTTING A BUSINESS TOGETHER
There are three parts of putting a business together namely:
1. Finding the right people
2. Finding the right opportunity
3. Finding the right money
35
BUSINESS PLAN
To farm 5 hectareswith the expectation of making 785,000 in ten months:
1. Herbicide N5000 5HCTS
2. Cost of clearing,
Harrowing andPlanting N10, 000 5HCTS
3. Harvest 2000 5HCTS
4. Transport cost per ton200 100 ton
25,000
=
=
=
50,000
10,000
20,000
105,000
Indirect
Salary 5000 10
50,000
100 tons
Sales
1,000,000
175,000
Contingency
20,000
175,000
20,000
20,000
785,000
37
1. Take a clean sheet of paper, at the top of the page write GOAL and
todays date.
2. Discipline yourself to write down ten (10) goals that you will like to
accomplish in the next (12) months. The exercise requires that you write
down a minimum of ten (10) within 3-5 minutes.
3. SELECT ONE GOAL. Identify the goal if achieved, would help you to
achieve more of your other goals than anything else. Now imagine that
you have a magic wand that you wave that will enable you this goal
within (24) twenty four hours.
4. Write this goal at the top of a clean sheet of paper. This goal then
becomes your MASTER DEFINITE PURPOSE. It becomes your focal
point and the organising principle of your future activities.
5. MAKE A PLAN. Once you have written out this goal clearly and
specifically, and made it measurable set a deadline on your goal
attainment. Make a list of everything that you can think of that you could
do to achieve your goal.
6. USE MINDSTORMING TO GET STARTED. Here is another
technique you can use to dramatically increase the likelihood that you
will achieve your most important goal. This is the most powerful creative
thinking technique that I have ever seen
7. WRITING OUT THE MAJOR DEFINITE PURPOSE IN A QUESTION
FORM. Here, take a clean sheet of paper, write out your major definite
purpose at the top of a paper in the form of a question. Then discipline
yourself to write a minimum of (20) twenty answers to the question e.g.
how can I earn Nxxxx by 30th June 2013.
NOTE
1- The first 3-5 answers will be easy
2- The next 5 will be different
3- The next 10 will be harder than you can imagine
Nonetheless, you must exert your discipline and will power to persist until
you have written down at least (20) twenty answers, look over your list and
select one of those answers to take action. On a single idea on your list, it
triggers more ideas and motivates you to take action on a single idea on your
list. It triggers more idea and motivates you to take action on even more of
these answers.
38
CLASSIFICATION OF PROBLEM
There are three classifications of problems:
1. Direct Problem
2. Indirect Problem
3. No Control
CIRCLE
OF
CONCERN
CIRCLE OF
CIRCLE
OF
INFLUENC
E
CONCERN
39
CIRCLE
CIRCLE
OF
OF
INFLUENC
E
NINECONCERN
STEPS/METHOD FOR SLOVING PROBLEMS EFFECTIVELY
1. Take time to define the problem clearly what exactly is the problem?
2. Ask is it really a problem? If you cannot do anything about it, they are
not problems but merely facts of life. It could be an opportunity in
disguise.
3. What else is the problem? Beware of any problem for which there is only
one definition.
4. How did this problem occur? Seek to understand the cause of the
problem, so that you ensure that it does not happen again.
5. Ask what the possible solutions are. The more possible solutions you
develop, the more likely you will come up with the right one.
6. Ask what the best solution is at this time.
7. Make a decision select a solution, any solution and then decide on a
course of action. Always ask, what is our action, what are we going to
do now.
8. Assign responsibilities who exactly are going to carry out the solution
or the different element of the solution?
9. Set a measure for the decision. What are you trying to accomplish with
this decision and who will measure results? How will you know that it
worked?
Statistics shows that 90% of all new businesses fail within the first five years
and the 10% that survive the first five years fail before their 10 th anniversary
for the following reasons:
1. Our schools train students to be employee who look for jobs rather than
train entrepreneurs who create jobs and business.
2. Different skills are required. The skills to be a good employee are not the
same skills required to be a good entrepreneur.
3. Many quit out of exhaustion. Many entrepreneurs work longer hours and
are paid less per hour than their employee. Hence, many quit out of
exhaustion.
4. Failure to build a business. Many entrepreneurs fail to build a business.
Instead they work hard building a job that they own. They become self
employed rather than being business owners.
5. Lack of enough capital and real life experience. Many new entrepreneurs
start without enough real life experience and without enough capital,
Having a great product or service without business skills. Many
entrepreneurs have a great product or service but dont have the business
skill to build a successful business around that product or service.
MANAGING CASH FLOW
CASH IS KING
Understanding cash flow and cash management is an absolute necessity for
any entrepreneur or business owner. Ultimately, the entrepreneur is
responsible for the bottom line. Starting a business almost always cost more
than an entrepreneur expects.
LEARN THE CASH CYCLE TYPICAL IN THE INDUSTRY OF YOUR
BUSINESS
What are your sources of cash?
How much money are you investing?
How much investor money are you intending to raise?
Are you borrowing money to start a business?
Do you have a joint venture partner willing to produce the products with
their money and resources for a share of the profit?
41
Will your customer pay at the time of sale? Or do you need to extend
credit?
If you need to extend credit to your customer, how long will it take to
collect on your receivables?
What level of bad debts should you expect from your customers?
How many production circles will it take before you start seeing positive
cash flow?
Can you license your product to other companies that are in different
industries, so they dont compete with you, and collect royalty payment?
Can you license your product to other companies that are in different
geographical territories, so they dont compete with you and collect
royalty payment?
WHAT ARE YOUR USES OF CASH
Delay in any of the cycles could result in a cash crisis. We worked diligently
with our suppliers and to shorten the cycle wherever possible.
SUSTAINING A BUSINESS
To sustain your business the following are required
1.
2.
3.
4.
5.
6.
7.
8.
9.
Constant training
Knowing what your competitors are doing
Research and development
The process is more important than the goal
Take responsibility for every outcome
Manage your cash flow
Grow your capacity utilisation to maximum
Reward workers
Stock taking and monitoring
TIME MANAGEMENT
IMPORTAN
T
NOT
IMPORTANT
44
OF
CREATING
KINGDOM
QUESTIONNAIRE
1. Name______________________________________________________
_____________________
2. Phone
No________________________________________________________
______________
3. Email______________________________________________________
_____________________
4. Sex :
Male
Female
46
Piggery
Rabbit
Fish farming
Snail
Honey farming
Modern poultry and turkey farming
Aloe Vera farming and processing
Mixed pineapple and palm plantation
Gum Arabic farming and processing
Groundnut farming
Soya beans
Mushroom
Cattle, goat sheep rearing
Tomatoes and pepper
LOOK AT THESE
a. CASSAVA FLOUR: The total demand for cassava flour is 258 billion
naira per annum and its growing at 2.5% per annum.
b. CASSAVA LEAVES: A ton of cassava leaves sells for 100 US dollar per
ton.
c. STARCH: The total starch demands is 45million tons per annum and its
growing at 5% per annum.
(The total markets demand for cassava and its bye products according to
the World Bank, are valued over 100 billion)
d. FISH: The federal government spends 28 million US dollars on fish
importation.
e. ETHANOL: The demand is about 4.2 billion litres per annum and it is
growing at 6% per annum. A study by the USA north western universitys
Kellogg school of management in conjunction with SJH Company
termed Agriculture farmers and rural communities found the following
for establishing 60,000 litres per day Ethanol valued at 7 million dollars.
During ethanol construction, approximately 370 jobs were created.
During ethanol plant operation, up to 4,000 local jobs were created.
Ethanol plant operation creates 47 million dollars to 100 million dollars
in additional income.
Tax revenue for local and state government will increase by at least 1.2
million per year.
In 2003, 32 of the USAs 72 ethanol plants were farmer owned.
49
STARCH: The total starch demands is 45million tons per annum and its
growing at 5% per annum.
(The total markets demand for cassava and its bye products according to the
World Bank, are valued over 100 billion)
FISH: The federal government spends 28 million US dollars on fish
importation.
ETHANOL: The demand is about 4.2 billion litres per annum and it is
growing at 6% per annum. A study by the USA north western universitys
Kellogg school of management in conjunction with SJH Company termed
Agriculture farmers and rural communities found the following for
establishing 60,000 litres per day Ethanol valued at 7 million dollars.
During ethanol construction, approximately 370 jobs were created.
During ethanol plant operation, up to 4,000 local jobs were created.
Ethanol plant operation creates 47 million dollars to 100 million dollars in
additional income.
Tax revenue for local and state government will increase by at least 1.2
million per year.
In 2003, 32 of the USAs 72 ethanol plants were farmer owned.
In 2004, 15 ethanol plants under construction, 12 were farmer driven projects.
Taken as a whole, farmer owned ethanol cooperatives
53