A quote largely attributed to Abraham Lincoln goes thus: “If I had four hours to chop down a tree, I’d spend the first two hours sharpening the axe”.

To create enduring wealth, you need to first learn before you can to earn. Funny how this adds up, because if you remove “L” from Learn, it turns to Earn.

Knowledge and wisdom is extremely important and it’s the distinctive factor between success and failure in any venture. Wisdom is a quality that comes from having knowledge and experience.

There is no quick fix formula for building wealth as most people who hit it big suddenly, squander it and end up becoming broke and worse off. More than seventy percent of big lottery winners end up bankrupt. Just imagine a 20 storey building that had to be constructed in one week, would you want to live in such a house? Can such a house withstand the weight of such a heavy structure and not collapse?

My personal experience in business without adequate knowledge was so disastrous that it almost destroyed me. I lost so much money not because the business wasn’t a good one but more because I didn’t understand how to extract value from the business. It took me three years before I could finally turn the table around in this particular venture. The losses would have been minimized if I had taken out time to understudy the business or sought out a good mentor to guide me.

Wealth come from creating value, and to create value you have to understand a business, its key success factors in a business, its markets and customers. You have to gain “Tacit knowledge” or firm specific knowledge in that line or area of business.

Tacit knowledge is the kind of knowledge that is difficult to transfer to another person by means of writing it down or verbalising it. Tacit knowledge is acquired largely through association with other people and requires joint or shared activities to be imparted from one to another.

In business, a core part of apprenticeships is the transfer of tacit knowledge between an expert and an apprentice. Mentoring also involves the transfer of tacit knowledge.

Nice one

Fact is that people don't wana undergo a learning process.

They wana look for easy routes.

Even when they see a learning process, they want it free...

Nothing free comes free.... There is always a price.

Krixxb:
Nice one

Thank you

effoi:
Source: http://www.freshpointnews.com/2017/07/01/you-have-to-learn-before-you-can-earn/



A quote largely attributed to Abraham Lincoln goes thus: “If I had four hours to chop down a tree, I’d spend the first two hours sharpening the axe”.

To create enduring wealth, you need to first learn before you can to earn. Funny how this adds up, because if you remove “L” from Learn, it turns to Earn.

Knowledge and wisdom is extremely important and it’s the distinctive factor between success and failure in any venture. Wisdom is a quality that comes from having knowledge and experience.

There is no quick fix formula for building wealth as most people who hit it big suddenly, squander it and end up becoming broke and worse off. More than seventy percent of big lottery winners end up bankrupt. Just imagine a 20 storey building that had to be constructed in one week, would you want to live in such a house? Can such a house withstand the weight of such a heavy structure and not collapse?

My personal experience in business without adequate knowledge was so disastrous that it almost destroyed me. I lost so much money not because the business wasn’t a good one but more because I didn’t understand how to extract value from the business. It took me three years before I could finally turn the table around in this particular venture. The losses would have been minimized if I had taken out time to understudy the business or sought out a good mentor to guide me.

Wealth come from creating value, and to create value you have to understand a business, its key success factors in a business, its markets and customers. You have to gain “Tacit knowledge” or firm specific knowledge in that line or area of business.

Tacit knowledge is the kind of knowledge that is difficult to transfer to another person by means of writing it down or verbalising it. Tacit knowledge is acquired largely through association with other people and requires joint or shared activities to be imparted from one to another.

In business, a core part of apprenticeships is the transfer of tacit knowledge between an expert and an apprentice. Mentoring also involves the transfer of tacit knowledge.

The apprenticeship system adopted by the Igbos is largely responsible for their successes and exploits in the business world. The apprentice is taken under the wings of his master and during his training period learns more from observations and experiences. The knowledge becomes rooted into the way he thinks.

This doesn’t make explicit knowledge,the type taught in classrooms or learnt from books any less significant. The important thing is the learning process before venturing into uncharted waters.

The downside or possible losses from refusing to learn could be devastating enough that it may takes years to recover, if eventually you do. Learning (Explicit, Implicit and Tacit) is actually a process of preparing yourself with the skills, knowledge, wisdom and character that are required for success in that chosen field.

Learning doesn’t stop after you have built the business successfully. You have to keep learning better ways of adding value or innovate to stay ahead of competition and ensure business continuity. This is what makes Google, Apple and a lot of great companies we admire different from the rest. They never stop learning and improving on their value proposition.

Pearls of wisdom here. Thank you.

Zeeg:

Pearls of wisdom here. Thank you.

you are welcome boss

BiafraBushBoy:
Fact is that people don't wana undergo a learning process.

They wana look for easy routes.

Even when they see a learning process, they want it free...

Nothing free comes free.... There is always a price.

True brother. That's why we are trying to educate people

Hello ladies and gentlemen in this forum. Good day, Please I want to register my business name to have "LIMITED" at the back E.g "xyz international Limited", don't mind me if I sounds somehow funny, I just need to know this, the business is located in Ibadan Oyo state, please if you have any idea of how I will go about the registration of the business name kindly enlighten me here. Thanks, waiting for your response on this..