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Tips from Warren Buffet-2nd richest in America

The second wealthiest person in the United States The second wealthiest person in the United States Saw this online and thought to share… I hope you learn something from this. There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life: 1. He bought his first share at age 11 and he now regrets that he started too late! 2. He bought a small farm at age 14 with savings from delivering newspapers 3. He still lives in the same small 3-bedroom house in mid-town Omaha, which he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence. 4. He drives his own car everywhere and does not have a driver or security people around him. 5. He never travels by private jet, although he owns the world’s largest private jet company. 6. His company, Berkshire Hathaway, owns 63 companies. He has given his CEO’s only two rules. Rule number 1: do not lose any of your shareholder’s money. Rule number ...

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Are You Recommendable? – Tokunbo Fasoro

Are you Recommendable? I went to an organization to deliver a training on Personal Effectiveness. While I was speaking, a man stood up and complained bitterly about how the Nigerian economy is so bad, with a high rate of unemployment, and how four (4) of his children who are graduates are at home with no jobs. I decided to have a chat with him after the training where I asked him to send one of them to me. After speaking with her, I discovered she had very poor communication skills and I asked myself, “Can I actually recommend her to any of our clients?” The honest truth is that communication is one of the most vital qualities we look out for during interviews. Every job seeker needs to do an appraisal on how good your communication skills are. I have put down a few tips on how to improve your communication skills. Read good books: Books that would help in building your vocabulary like novels, inspirational books or even your primary school English textbooks can help improve your communication. Association: Interact with people who have excellent command of English that will in turn rob off on how you communicate. Watching ...

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Business Partnership (Pt 3) – Opeyemi Komolafe

Business Partnership Part 3 As much as having a partner gives you leverage, having a problematic partner can cost you business, clients, your reputation and even your entire company.  So what do you do when you find out you have made a partnership error?  Dissolve the partnership as soon as possible. Knowing that a business partner is a fellow member of a business by contract, to dissolve the partnership, you will have to go back to the contract, get your lawyers and settle amicably (hopefully out of court).  It is important to note that all partnerships have their ups and downs, that said, we must be able to separate differences in personal and corporate affairs. Irreconcilable differences in some personal affairs might not necessarily impact the business, so to dissolve a viable partnership over preferred educational systems for your children is just plain folly, no matter how heated the argument. The denomination of your church does not impact on your business. A necessity to take an annual leave to vacation every year doesn’t necessarily impact your business.  As long as those differences don’t affect the business or reputation of the business, the partnership can work.  The minute your differences begin to ...

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Business Partnership (Pt 2) – Opeyemi Komolafe

Business Partnership 2 In business relationships, integrity on your part and the part of your clients, vendors, financiers and employees cannot be over emphasized, however, in a business partnership it is completely non-negotiable. Apparently I am back to this topic of integrity, click here to read Part One. It can never be overstated. Imagine having a business partner who is completely unpredictable, someone you can’t trust to deliver on a job, someone you cannot assign as a signatory to an account, someone with whom you cannot take a well deserved vacation, I can go on and on but my point is clear. Having a business partner means you agree to some extent with the personality, value system and priority rating of that individual. You are better off facing the challenge of running a business on your own than having a partner who keeps you up at night, raises your blood pressure and has you keep your Account Officer on speed dial. We’ve spoken at length about integrity in one of my previous posts. As we did for ourselves, in picking a business partner, kindly ask yourself these questions based on what you know about this person. “As a person, what ...

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Find Your Job Habitat- Aderinola Elegbede

Find Your Habitat How do you feel waking up every day to go to a job that you don’t like, a job that makes you sick, a job that you wish something should go wrong and somehow they ask you all not to resume that day, it gets so bad that it affects your entire psyche and your mood. You begin to look so dull and gloomy, you start having sleepless night because you know the next day you will have to go this ‘JOB‘ that you don’t like. Within you, your soul is crying for help because it wants fulfillment. Your days are being managed and run by an organization you have no love for. You are simply there just because you want to make ends meet and simply surviving, just getting by and spending as you are earning in a subsistence way. But there comes a time when the ends meet won’t matter anymore but your quest for a well-deserved life and fulfillment will overtake that. You will become blind and deaf to whatever the job is offering to pursue that which gives your life. But sadly most people never get to this stage, because they are afraid ...

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Secret to Success that will motivate you

A young man asked Socrates the secret to success. Socrates told the young man to meet him near the river the next morning .They met. Socrates asked the young man to walk with him toward the river. When the water got up to their neck, Socrates took the young man by surprise and ducked him into the water. The boy struggled to get out but Socrates was strong and kept him there until the boy started turning blue. Socrates pulled his head out of the water and the first thing the young man did was to gasp and take a deep breath of air. Socrates asked: ” What did you want the most when you were there?” The boy replied: “Air.” Socrates said: “That is the secret to success. When you want success as badly as you wanted the air, then you will get it. There is no other secret.” The motivation to succeed comes from the burning desire to achieve a purpose. Napoleon Hill wrote: ” Whenever the mind of man can conceive and believe, the mind can achieve.” A burning desire is the starting point of all accomplishment. Just like a small fire cannot give much heat, a ...

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One Year To Live-True Life Story of Anthony Burgess

One Year To Live Anthony Burgess was 40 when he learned that he had only one year to live. He had a brain tumor that would kill him within a year. Burgess knew he had a battle on his hands. He was completely broke at the time, and he didn’t have anything to leave behind for his wife, Lynne, soon to be a window. Burgess had never been a professional novelist in the past, but he always knew the potential was inside him to be a writer. So, for the sole purpose of leaving royalties behind for his wife, he put a piece of paper into a typewriter and began writing. He had no certainty that he would even be published, but he couldn’t think of anything else to do. “It was January of 1960,” he said, “and according to the prognosis, I had a winter and spring and summer to live through, and would die with the fail of the leaf.” In that time Burgess wrote energetically, finishing five and a half novels before the year wad through (very nearly the entire lifetime output of E.M. Forster, and almost twice that of J. D. Salinger.) The Man that refused ...

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Money or Passion? Which would make you happy?

The major problem with most people is that they put making money before fulfilling their dreams or their passion. I have a lot of friends who have gotten into banking just because of the money, fast forward to 10 years down the line, they want to get out to pursue their passion. Unfortunately, 10 years have been wasted on being average.  Working for free is definitely a lot of sacrifice, but nothing good comes easy. We make sacrifices to succeed sometimes. I remember the first employee I took into my company was earning five times what I was offering her in her previous employment. Honestly, I must tell, you I didn’t want to take her because I felt she would be dissatisfied. But she made the decision to move because she wanted to build a career in Human Resources (HR). I asked her “How will you cope? Honestly, this is a start up and I definitely cannot do much”. You wouldn’t believe what she said to me! She said “I should be paying you ma for teaching me” At that point, I saw the determination and the willingness to learn in her, and  I took her in just with a little increase to ...

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INTEGRITY: A NECESSARY GOOD IN BUSINESS

Integrity…………. a core value that is listed on every organization’s wall, physical or virtual, yet is one of the scarcest commodities in business relationships today. Let’s look at the meaning of integrity. The Oxford Learners’ Dictionary defines integrity as “The quality of being honest and having strong moral principles”. The Cambridge Dictionary adds a clause at the end of that …………..”that you refuse to change”. As an entrepreneur, your reputation is a large part of your business, and your clients, your vendors, your staff should be able to bank your words. You should run your business in such a way that if you ask for a loan extension it will be approved, if you ask a vendor to deliver and be paid later they oblige, if you promise a client a delivery within a certain timeline they won’t need a backup plan,………..you get my drift! Unfortunately, integrity as an entrepreneur is not suddenly endowed from heaven immediately you start a business, it starts from having integrity as an individual first. Your business is an extension of your person; your values; your ethics. If as an individual you are not known for reliability, honesty, dependability, quality, excellence, morality, etc it won’t ...

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How I Got An Office Space Through Networking

There is a saying that “Even a lone ranger has a horse”. No man can live in isolation. When I ventured into entrepreneurship, I was working from home at the time. There was a need to get an office space and I had been praying desperately for one. At that time, I had started an Entrepreneurship Management class at the Pan Atlantic University and you can trust that I ensured I spoke to everyone in class. I would leave my group and go to other groups just to meet people. It was something I really loved doing. One day, in the middle of my program, I had a brilliant Idea, which today has grown into BI empowerment, but I didn’t know how to go about it then. I decided to have a chat with the Director of the program. As I began to describe my idea to him, he bluntly told me I could not pull the idea through without an office space, and in a polite way told me that our discussion would continue when I get this space. Extremely depressed and demotivated, I began to walk down the staircase confused in a confused haze. Immediately I got downstairs, ...

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