Business Lessons From The Beautiful Game!

Believe it or not; I have great admiration for sports managers, particularly those who manage elite clubs; whether it is soccer, American football, basketball, or just about any sport played at the highest level.

Let me share with you some of my (BUSINESS) reasons:

Making Sound Financial Decisions: Open A Bank Account. Part 5 by Dr Strive Masiyiwa.

Now here is a mystery: studies recently undertaken on small holder farmers, showed that a farmer who opens a bank account, is more likely to have money to buy seeds for the next planting season, than one has no bank account. Surprised? This is part of the mystery of wealth.

The new Prime Minister of India; a man respected for his ability to bring millions of people out of poverty, has just embarked on a campaign to get millions of their poorest citizens, to open bank accounts. Surprised? This is part of the mystery of wealth.
The Chinese have long understood, the importance of SAVING. It is the savings of millions of Chinese people that has driven their economic miracle.

The Minister of Agriculture of Nigeria, Dr Akin Adesina, a close friend and colleague, has embarked on a major campaign to get small scale farmers in that country to open, mobile bank accounts. Experts, including myself, believe that it will bring millions out of poverty. Surprised? This is part of the mystery of wealth.

Making Sound Financial Decisions: How To Hold Onto Money. (Part 4) by Dr. Strive Masiyiwa.

As a young business person, it took me about 10 years to realise that it is harder to hold on to money, than to make money. Sadly many people never actually realise it, throughout their business life or even career.

I recently read a report which showed that many working professionals in a major European country, have enough savings to last 18 days, if they ever lost their jobs! The squirrel, a small animal that collects nuts during the summer, for the long winter, would no doubt be quite amused.

A business associate, who ran a construction company, came to me once complaining bitterly that people were stealing from him. He pointed out that he had done huge projects, in the past, and yet he was now totally broke. "How could this be"?!

" The problem, is if I tell you, the truth, I will lose you as a friend." I told him.

"Please, please tell me!" He begged.

Making Sound Financial Decisions (Part 3) by Dr. Strive Masiyiwa.

There is a story told, about a young entrepreneur, who had been working on an amazing new idea. After sealing a major contract, he and his friends decided to go and celebrate at a local restaurant. They ate and drank until very late. Finally when it was time to close, they called for the bill; it was a shocking amount, and much more than they could afford!

Ever the entrepreneur, the young man asked to see the owner, and told him about his business venture, and how he believed that it would one day, make him billions. So he offered the old man, some shares, for the large bill he had ran up that evening. The old man, who owned the business, refused completely, and demanded payment. Humiliated, the young man pledged his car, and went off to find the money.

Many years later, the young man, returned to the restaurant driving, a gleaming Ferrari. He asked to see the owner of the business, who immediately remembered him. He told

Making Sound Financial Decisions (Part 2).

Whether you are in business or not; whether you have a job or are unemployed; even if you are still a student. You might even be a social entrepreneur, a doctor or a teacher:
You still live in a world, in which everyday, you have to make sound financial decisions. You also live in a world, in which others around you, including local and national leaders, as well as business leaders, must have the capacity to make sound financial decisions, for the well being of all. Ultimately, how sound your financial decision making is, will be seen in the results.

"Time will tell, as they say", whether our two young heirs, (whom I spoke about, in my earlier post), would make sound financial decisions. One is not born, with a capacity to make sound financial decisions, it comes through education, reading the right material, and also training.

Partnerships. (Part 5): We must always, always respect agreements, and contracts.....

In the book of Joshua, there is a story about a group of people, called the Gibeonites, who managed to secure an agreement with Joshua and his leadership team, by false pretences. When the leadership of the Israelites, discovered what had happened, they were furious. The intriguing thing, is what happened next:

Joshua 9:18-20 (Living Bible, The - TLB)
18 ...... The people of Israel were angry with their leaders because of the peace treaty.
19 But the leaders replied,"We have sworn before the Lord God of Israel that we will not touch them, and we won't.
20 We must let them live, for if we break our oath, the wrath of Jehovah will be upon us."

Holding Regular Meetings With Your Partners Is Very Important. (Part 4). by Dr. Strive Masiyiwa

Entrepreneurs are generally very busy people, and they spend their time running around trying to sell their products and to make "ends meet" (as they say). Unfortunately many entrepreneurs, consider having formal meetings, as a waste of time, and simply want to get out there and do things.

This is not very wise.

It does not matter what business you are in, or how small it is: its important to sit down and have proper meetings. And by this I do not mean, "chatting things over, whilst relaxing, over coffee". I mean you must have scheduled meetings, during working hours, when you sit down with your partners, and and also with your staff to discuss what is going on in your business.