In the past, perhaps, deriving from the revelation that our forefathers had of Christ, the impression was created that the true believer in Christ must necessarily suffer deprivation; that as children of God we are condemned to poverty. That is ironical, considering that we are serving Him who owns the cattle on a thousand hills.

Thank goodness, God has gradually opened our eyes to the fact that when He declared that we are the head and not the tail, He means that we must be in the fore in our respective endeavours. However, any discussion on money and success must fully recognize and acknowledge the fact that there is no real and lasting-success outside of God. Considering my background as a banker for 33 years, I suspect many would probably expect me to provide some carefully enunciated keys to a successful banking career. I promise to disappoint you, because what I will be sharing with you here are basic kingdom principles and practical steps, which I try to practise. This is what has been laid in my heart to share with you.

Again, I have chosen this path, because these principles are so easily practicable and general in application that, irrespective of the career choices you make, they are certain to ensure that you take full charge of your financial future. Another reason I have opted for this approach is that these same principles, as I have said, have helped me through the years. I am persuaded that whatever success I have recorded over the years has been due to the grace of God. “A man can receive nothing, except it be given him from heaven.” (John 3 :27).

Any keen follower of developments in the banking industry over the last few years will appreciate the import of what I am trying to pass across. If anyone has stayed in an industry, as volatile as the banking industry has become, and risen, to high levels, and attributes this to his academic prowess, intellect or skills, he does so in gave error This is because only one incident can rubbish all the achievements of a lifetime in banking.

IS IT RIGHT TO BE RICH?

The Bible tells us that when God created man He gave him dominion over everything. That means He gave him supreme authority. The same Book tells us that money answereth all things, meaning it is a tool we can use in establishing dominion in line with God’s command. If we marry these two portions of the Bible, there will be no doubt in our minds that there is nothing wrong with being rich. The scriptures effectively settle any controversy on this issue in 3 John 2: “Beloved, I wish above all things that thou mayest prosper and be in good health, even as thy soul prosperth.”.  Abraham was very rich. Beyond that, it would be foolish to spend an entire lifetime, working for money while pretending that money is not important or is not all there is to life. True, but if for nothing else, money is important for supporting life. The purpose of prosperity is to further the Gospel and take care of the financially less privileged. This is very important, indeed, perhaps of every consideration in the debate of whether or not we should get rich. My final word on this is, don’t be ashamed to be rich, but do not lose the Kingdom. Have a vision to bless humanity and serve God with your wealth.

Once this point is taken, the next logical thing to do is to ensure that your money works for you, instead of spending your life working physically for money. The process of getting money to work for you is a tedious one, sometimes calling for hard decisions. It is not easy moving from a secure regular-paying job to self-employment, which guarantees financial security. But the prize at the end of the day is worth the journey. It is the journey to financial freedom. Why is this so? Because working for your boss will not make you rich. What guarantees your future is not the pay cheque you are handed at the end of each month, it is what you do with your spare time.

In case you are worried about the skills that you possess, I have one advice for you. Many of the skills essential to becoming successful are not taught in school, but are acquired and developed by the individual. That is why some of the most successful people like Bill Gates of Microsoft, Ted Turner of CNN and Thomas Edison left school early. Do for money what you enjoy doing naturally.

WHAT DOES IT TAKE TO CONTROL YOUR FINANCIAL FUTURE?

The logical question then is, what does it take to take charge of your financial future? I will answer by telling you first what it does not entail. It is not about getting rich quick. Indeed, my key advice to you is don’t get rich in a hurry. The reason I give this advice is simple. In the process of getting rich quick, you will do things that will cost you what you already have and more. The shortest route is not always the best route. Taking charge of your financial future involves getting out of financial bondage, and many people are in financial bondage without knowing it. You are in financial bondage when you are in debt, which hinders your ability to develop, grow, improve yourself or your family.

The opposite of being in financial bondage is securing your financial freedom, the financial condition in which you work out of interest and not for a livelihood. In this state you are at liberty to choose when to go to work, when to stop work and when to be on vacation among others. This may look a far-fetched target, but it is not impossible if you begin to plan for your retirement today. You can achieve that going through the process of first saving part of your earnings, then progress to investing in stocks of companies quoted on the exchange. You can move from that stage to investing in mortgage and finally starting a company of your own.

FAITH IN GOD

Now we take off from the premise that we have established that our ability to succeed in life is intricately linked to the grace of God. In fact, that is expressly stated in the Bible several times over. Nehemiah 2:20 for instance, says, “…the God of Heaven he will prosper us.” There should, therefore, be no doubt in our minds that if we choose to start, and rightly so, from the beginning, we must first go to God. “Seek ye first the Kingdom of God, and his righteousness, and all other things shall be added unto you,” we are admonished in Matthew 6:33.

As Christians I guess we have no problem with that. Experience has, however, shown that it is fairly easy for man to come to the realisation of the fact that Jesus Christ is the saviour of the world, but a lot more difficult to follow him diligently. But if we are walking with God and desire for Him to be on the driving seat, we must be prepared to follow Him. And that brings me to the question, where is God’s place in your affairs? Our God is a jealous God. If you position him like any other element in you life, He will likewise deal with you. But God desires that our lives revolve round Him so that His life will be shown in us. A critical factor that will help us to take charge of our financial future is to put God at the centre of our activities, albeit, our financial transactions. Even if you are so wise or analytically sound, the stock market may crash. You may not find tenants for your houses.

When David confronted Goliath, he did so out of the deep respect he had for God, so much so that he was not mindful of the size of the man or the fear he had struck in the Israelites. The only thing at the back of his mind was to put a stop to the insult that the Philistine was raining on his God. That was why he declared, “but I come to thee in the name of the Lord of host, the God of the armies of Israel, whom thou has defied.” There was no way he could have failed. You cannot fail, with God at the heart of your activities.

HAVE A VISION

You must have heard it said that there are so many ways to kill a rat. That is a statement of fact. But if you say you want to hit it with a stick and when you have found the stick, you say you will pour hot water on it, and just when the water is boiling, you decide to rather set a trap for it. Too often, many people go about life in that haphazard fashion, not knowing exactly what they want and never finishing one thing before jumping to the next one. The bible says anyone who puts his hand on the plough and looks back is not fit for the Kingdom.

This tells us that we should be steadfast in whatever we do. But steadfastness comes from having a clear understanding of what we are after. A vision is like a signpost, the destination we want to get to. You are unlikely to succeed or endure if you do not have a clear picture of what you want.  Anything you embark upon without a vision is like the proverbial seed that fell on the stony ground in the Parable of the Sower. Because it is not firmly rooted, it soon dies, and comes to nothing.

There is something particularly important about a vision for us as Christians. It is the end picture that guides us all the way until we achieve the desired goal. In Genesis 13:4 God said to Abram “Lift up now thine eyes, and look from the place where thou art northward, and southward, and eastward, and westward: For all the land which thou seest, to thee will I give it, and to thy seed forever.” God wanted him to envision what He wanted to make of him as an important step to accomplishing it in his life. The key rule is: See it. The journey is more fun if you know where you are going.

There are a number of things to consider once you receive the vision. The first is to have a purpose. Purpose is the master of motivation and the mother of commitment. Once you ask yourself some basic questions: (why am I here? What am I here to achieve?,) and you are convinced about your answers, then you can start planning to secure your financial freedom and set a target to make your move. When do you intend to retire? How much money will you need monthly? How then do you prepare for it?

You also need to set goals and strategies on how to achieve your goals. When this is in place you now make plans to bring these goals to fruition. It is also important that you stay focused on your vision. A vision enables you to visualise success. Once you have this mental picture in mind,  determine never to return to the gutter. You must remain committed to your goal. That goal should not be changed at the least obstacle, just persevere and think of a solution to the problem. Until you are ready to die, you are not ready to live.

Now, I must say something about setting your goal. Some people set goals that they can achieve with the least effort, with consideration for the fact that it is not giving them the best result. If you determine your financial future should be secure, learn to dream big. Learn to think big and expect something big from your Big God. With God nothing shall be impossible, the scripture says. When you attain your goal, aim at the next level, set higher goals until you get so much money working for you. But in all these, be focused. Remember what you set out to do, keep that memory in your heart and keep the fire burning

ACTING ON YOUR GOALS

There is a process that takes us from perception to realisation of a dream. This process involves the conception of an idea arising from experience or exposure. There are several people who see things but never progress beyond that. In the book, “Realising Your Potential,” Myles Munroe says that the poorest man is the man without a dream. And many people remain poor, not because they have no dreams, but because they never act on them. There are more than sufficient stimulants to induce dreams in our environment, every moment. (What we hear, what we see, the experiences we have, what flashes through our minds are some of such stimulants).

Another author, Robert Titlon, in “The Power to Create Wealth” reports that researchers have established that on a daily basis over 2,000 ideas pass through each individual’s mind.. For the self-employed professional, the first thing he must do is to invest part of his income in start-up companies or companies that are having their initial public offers or quoted stocks, all an effort to ensure that he earns some income that is independent of his own sweat. Also the professional can find a way to turn his practise into a big company and admit partners into it and make it self-perpetuating in a way that the practise will always yield income even if he does not work again for all his life.

For the business owner, he is in a good position and on the right path. However, it is prudent for the entrepreneur to invest some of his profit/dividend into companies outside his own as a reliable insurance in case a new technology suddenly makes his company obsolete or uncompetitive. The investor is in the ideal position. He only needs to make sure that he analyses each investment very well to be sure  that it will always yield returns. For example, if an investor builds a gigantic hotel or office complex in a village, it would not yield any returns as it will not be in demand. From the above, it is evident that being a business owner is the first step towards financial security. Having described the above quadrant, it will be helpful if we can give some tool kits to the potential entrepreneur in order to make sure that he succeeds and does not run back to paid employment.

PREPARING TO START YOUR BUSINESS

I have observed over the years that a lot of our people jump into sundry schemes and projects without the necessary grounding in the key elements. This has led to misery and agony for many a family because life fortunes have been lost through such blind leaps. Certainly that will not help us secure our financial future. Knowledge, which basically is about acquiring necessary information helps one in achieving the required result, sometimes even with minimal efforts. Such knowledge could come from asking the right questions, watching educative programmes on television, listening to the life experiences of others, scientific research, observations and in some instances, going through formal training or acquiring practical work experience on the subject. Whatever it entails, ensure that you are equipped with the right information before you make your move. Opportunities do not come by every moment. Therefore when it comes, be sure that you seize it. If a man who has just a bullet in his gun is under attack by a predator, that man has only one chance to save his life by hitting the monster a deadly blow with his only bullet. To ensure that he does this, he must be sure he knows the fatal point to hit.  He must be sure, for instance that his only shot aims at the heart of the beast. That strength comes with training. Sometimes, what makes the difference between the rich person and poor person is what they learn during their spare time.

In the biography, “Orji Kalu: Leadership Lessons from A Master Strategist,” the authors, Mike Awoyinfa and Dimgba Igwe, quoted the Abia State Governor as emphasizing the power of knowledge. “In any business you want to go into, research is very important. You don’t just jump blindly into any venture. You must do your homework.”  From the religious point of view, the importance of knowledge is not diminished. The Bible says, “My people perish for lack of knowledge,” emphasizing that it is the key to survival. We are challenged to acquire knowledge by the fact that the God we serve is one that operates from a standpoint of understanding. 1 Samuel 2:3 says: “for the Lord is God of knowledge.”

Therefore, whatever you see will die with you if you do not move to the next stage by translating it into ACTION, a dream that we can then strive to live. Then the critical point: confess it, say it, pray it. “What doth it profit, my brethren, though a man say he hath faith, and have not works can it save him? If a brother or sister be naked, and destitute of daily food, And one of you say unto them, Depart in peace, be ye warned and filled; notwithstanding ye give them not those things which are needful to the body; what doth it profit? Even so faith, if it hath not works, is dead being alone.” (James 2:14-17).

This basically instructs that whatever we seek to achieve, we must not just have a vision of it, we must have a strong conviction (belief) of it based on which we declare (pray) it, and then act on it. Matthew 7:7 “Ask, and it shall be given to you; Seek, and ye shall find; Knock, and it shall be opened unto you.” The importance of this lies in the fact that there is power in the word. By the word of mouth was the whole wide world formed. God did not only create it He has given us power, we whom He created in His image and likeness, to do likewise. Mark 11:24 sums it all up. “Therefore I say unto you, What things so ever ye desire, when ye pray, believe that ye receive them, and ye shall have them.” What is your DESIRE today? If your DESIRE is to take charge of your financial future, take the first step today.

There are four major areas of human endeavours from which we can make money. One is in paid employment, the second is being a self-employed professional, the third is going through business ownership and the last is being an investor. As bitter as it may sound, there is no way that anybody can be prosperous as an employee unless he steals from his employer. This is because as an employee you are not taking any risks, and so your employer pays you enough money to enable you come back to work. The second category consists of self employed professionals like medical doctors, lawyers, architects, accountants, musicians and artists. This category of people can only become prosperous if, as practitioners, they take time to invest their income at the height of their professional practice. When they grow old, they ultimately lose their clientele to younger co-professionals and those who failed to invest their earnings end up in penury like the employee.

For anyone who ventures to become a business owner/entrepreneur, even though the move is usually risky in the beginning, the journey is well worth it if he can persevere, set up a system that works and produces goods and services for which there will be demand. These people have the potential to be prosperous because they merely keep replicating the services, using their employees who render the services or keep manufacturing the same goods using the patent they have acquired. This group of people are not only highly favored by our tax system, they are shielded because all their family expenses are paid for by the company, and are tax deductible. The only danger that they can be exposed to is the emergence of disruptive technology, like postal services being disrupted by e-mail and fax on the one hand, and other courier companies being disrupted by internet services. But all the entrepreneur needs to do is to be proactive, to spend money on research and, if necessary, acquire new companies like Microsoft has done on several occasions.

The last category is the investor, and this is the financially most secure of all the groups in that you put part of your income earned from paid employment, professional practice or business ownership into investments such as stocks and shares, bonds or real estate. The money independently works for you without you having to lift a finger. And it has a way of multiplying in leaps and bounds. This now gives you the confidence to decide whether to work or not, as you can spend your time touring the world because you know that your future is financially secure.

From the above, it is apparent that the ideal position to be is that of the investor. But nobody jumps from graduation from the university to becoming an investor. Therefore, I will give a logical progression, which any intending investor must follow. Unfortunately, our curricular in school is focused on producing employees rather than small scale business owners and entrepreneurs, otherwise it would have been possible as the case in Asia and America for a fresh graduate to try his or her hands in setting up a business. Therefore, for our environment, a fresh graduate should seek employment into an industry, not just to earn money but also to learn business management and entrepreneurial secrets that will enable him to start his business not later than 10 years after graduation.

It is also advisable for such an employee to set aside, at least 10% of his salary into a savings account which will form his capital contribution in future. Also, even when in employment, the employee must be writing various business ideas in the corner of his room, or coupling together some products in his garage. This is exactly what Hewlett Packard, Apple Computers and Bill Gates of Microsoft did and only launched out when the products became acceptable by the market.

There is a fundamental reason why you should acquire sufficient knowledge on whatever you want to go into. It is central to the preparation process, which of necessity must precede success. When venturing into a business of your own, you have a choice to either prepare well or blunder your way to failure. One of the ways to prepare yourself is to read widely. Readers are leaders. Education also prepares you for success in business. The education we are talking about here is not a one - off thing. Continuous education enhances performance and one’s chances of success. Preparation for financial success also involves learning the rule to success. The experience one garners from life’s failures sometimes help one ultimately in life. It is, however, important to apply creativity to whatever you do. It is the only way to make a difference. Pay attention to details, do your homework and leave nothing to chance. Have passion for your job. Dress decently for success. It gets you noticed.

The difference between success and failure in business is intricately linked to your preparation. Again let’s turn to the Word of God for necessary references. “Wisdom is the principal thing; therefore get wisdom: and with all thy getting get understanding.” (Proverbs 4:7). And in 1 Timothy 2:15 is this exhortation which is relevant even for our success here on earth: “Study to show thyself approved unto God, a workman that needeth not to be ashamed, rightly dividing the word of truth.” The same way you study to be worthy of God’s company so must you prove yourself in your job or business. For 30 years Jesus Christ prepared for the work of God on earth and accomplished this in three years. Are you still in doubt as to the importance of preparations?

BE ENTREPRENEURIAL

As earlier mentioned, research studies have confirmed that over 2000 ideas flash through the human mind everyday. It is, therefore, not for lack of ideas that people do not fulfil their life aspirations. What then is responsible for this situation? People are often scared of leaving the comfort zone. They are comfortable with the employment. Ben Franklin says: “Those who give up liberty for safety deserve neither liberty nor safety!” Entrepreneurs are not risk averse, and you must imbibe the entrepreneurial spirit to secure your financial future. The entrepreneur is always seeking to break new grounds and seeking new and better ways of doing things.

Something I have come to appreciate is that the condition is never perfectly right for anything. If ever, it is, then it would have become an all comers affairs. Entrepreneurs are early risers. They take risks, because risks are a part of life. I won’t advise you to take unguarded and stupid risks, but a calculated risk is good for you. When it pays off, the reward is often handsome. Sift facts from opinions and make your decision. Do not allow fear to paralyse you. Remember, as they say, ‘nothing ventured, nothing gained’. Be bold; do not panic. Let me make a simple statement of fact here; passion, not fear, builds business.

Writing in the same vein in “Open Heavens,” a daily devotional for Christians, Pastor Enoch Adeboye lamented that millions have lost their lifetime opportunity because of failure to act at the right time. When God gives you an opportunity, Adeboye says, He expects you  to act promptly. “And Joshua said unto the children of Israel, how long are ye slack to go to possess the land, which the Lord God of your fathers hath given you?” (Joshua 18:3). Go secure your financial future. Make that move today. As an entrepreneur, you can do a whole number of things: you control your future, minding your own business. Like a mountain climber, move in sequence. You may start with savings, move up to investment in stocks, buy property, start your company and finally sell companies. Then you must learn the language of money. What is good debt? What is bad debt? What is capital? What is profit and what is loss? What constitutes assets? What constitutes liabilities?

You should also learn to pay yourself a salary by setting aside or investing 10% of your profit outside your business. Make sure you choose your partner carefully and where possible go it alone. If, however, you cannot go it alone, then you need to spell out the terms of your partnership with a lawyer; ensure that you have a way out before you enter any relationship. You never truly know your partner or business associate until the company is making money.

BE DILIGENT

Diligence is a quality which is missing in many of our younger folk, but which is critical to life’s success. Many of our younger generation have been totally taken in by the love of instant fame and money.  Be warned, instant money may land you in instant trouble. The road to fortune may be long but the man who perseveres and stays on course will get the ultimate prize. “Seest thou a man diligent in his ways’, the Bible says: ‘he shall stand before kings; he will not stand before mean men” (Proverbs 22:29).

“He becometh poor that dealeth with a slack hand: but the hand of the diligent maketh rich” (Proverbs 10:4). In case there is anyone here who does not understand what we are talking about here, let me point you to the classical case of the diligent worker in the Bible so that you may learn from him. “Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, provideth her meat in the summer, and gathereth her food in the harvest” (Proverbs 6:6-8).

What practical steps do you need to take in this respect? Manage your time properly. Time is money. If you cannot manage your time, you cannot manage your money. Develop good character, it will attract good business to you. Many a Nigerian often tries to be smart by playing a fast one on other people. Be mindful of the reputation you give yourself because it will always precede you. Be humble, so that God will exalt you. Listen to the ideas of others and where necessary, take correction.

BE SENSITIVE TO THE SPIRIT

There are some people who are the exact opposite of the group of people who will not make a move until everything is set. This latter category is the ‘movement-happy’ lot, always moving, at the least prompting. This type of people will begin with God and just when God is about pouring out a blessing on them they move somewhere else, to something else. It should not be that way. The reason people make such irregular dash is because they feel insecure under virtually every situation, due to lack of a business feasibility study and strategy. This is not an attribute of the true child of God.

Through the Holy Spirit, Jesus Christ has already taken care of all the uncertainties that ordinarily confront us. But no, we try to rely too often on ourselves, on our human skills and abilities. The Holy Spirit, Jesus said, will speak of God and show us things to come. It is not that this has ceased to be. We are only too much unto ourselves to be sensitive to the Spirit of God. No wonder we work like an elephant, yet eat like an ant. God, through His Spirit, is striving to direct us aright through the application of different tools. For some, it is through dreams, for others, it is through men whom He sends to us. Yet, for some others it is by way of that still small voice. How does God talk to you? If you have not discovered this, take time out to ask God about it. He will show you and you will save yourself of a whole lot of stress. Be sensitive to the Holy Spirit and be obedient.

BE A GIVER

As Christian, the Lord who prospers us also commands us to take care of the less privileged and we must take this responsibility seriously. “I have showed you all things, how that so labouring you ought to support the weak, and to remember the words of the Lord Jesus,how he said, it is more blessed to give than to receive.” (Acts 20:35). Give and you shall be given and sow seeds that benefit others because it is what you sow that you reap.

Giving extends beyond that which we extend to our fellow man as we have a mandate to return unto God from the much He continually gives to us. Without belaboring issues, I beg to quote Malachi 3:10 here: “Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the Lord of hosts, if I will not open you the windows of heaven, and pour you out a blessing, and there shall be no room to receive it.”

Now, I know that this is a scripture about which virtually all Christians have a  revelation. But there is another scripture on sowing in the House of the Lord that many may not be familiar with. It is about giving of your first fruits, which may be the key to the financial breakthrough that will guarantee your financial future. “That thou shalt take of the first of all the fruit of the earth which thou shalt bring of the land that the Lord thy God giveth thee, and shalt go unto the place which the Lord thy God shall choose to place his name there.” (Deuteronomy 26:2)The reason why the giving of the first fruits is so important to our prosperity is manifestly stated in Proverbs 3:9-10: “Honor the Lord with the substance, and with the first fruits of all thy increase: So shall thy barns be filled with plenty, and thy presses shall burst out with new vine.”

In conclusion, let me briefly show how our individual wealth creation can rub off on the national wealth. This is fairly easy. Let us take a hypothetical situation of two working families. In one family, only the father is gainfully employed, while the other family has the father,  the mother and two children gainfully employed. It is not difficult to guess that the second family will be prosperous, even if the one man working in the other family earns more than the head of the second family. The father of the first home buys everything the house needs, while at least four people will be equipping the second home. Nigeria will be like the second family if we are all able to secure our individual financial future and join the wealth creation process.

Production will increase greatly as a result of which the Gross Domestic Product (GDP) of the country will grow rapidly. Arising from this, there will be greater synergy between different sectors of the economy, as they will be producing for one another their different raw material requirements. Nigeria will naturally be in a position to save some of the foreign exchange, which she currently expends on imports, as she will be able to generate some of the materials locally. Another benefit likely to accrue to the country is that of increased earnings from taxation, arising from increased productive activities, which in turn leads to gainful employment. Those who own such enterprises will become mentors to the younger generation. This crop of workers will eventually set up their own firms thereby employing other Nigerians. Such a rapid creation of Small and Medium Enterprises will eventually turn our country into one big production based economy. This is the strength of the Asian economies today.

Mr Akingbola erstwhile Vice-Chairman/CEO of Intercontinental Bank Plc presented this talk as a lecture, ‘Take Charge of Your Financial Future’, at the National Success Conference in Lagos in October 2003.

By:Eratus Akingbola