MoneySkills with Nelson Letshwene

Money & the psychology of money

How to raise a cash cow

Life on this planet is made better by the presence of resources. Poverty makes life difficult and abundance makes life easy – to state the obvious. I think even if you are born with propensities to be a genius, if you have to focus on survival first, your genius might not shine.
One of the things you will have to do to master this life is create resources for yourself. You must have a cash cow that you can milk and live off of the curds, fresh milk and all the byproducts thereof. Only this will free you to pursue your genius in all of its lofty thinking and creations. All geniuses who created or invented something were working from a great financial support system.
The cash cow is an income producing system that you must set up in place. You may have your primary cash cow like a job, and as soon as possible, you need to set up your next cash cow, and many others after that.
Your job may be your first cash cow, but for some it is so immatiated that it can barely feed you. It may be time to raise your next cash cow. And like a real cow, you need to take care of it, and don’t just dump it before you establish other systems out there.
So the primary cash cow should provide you with enough milk to feed yourself, an also give you some to sell. Some have no cows but calves. Little projects that if taken care of, could grow and become strong cash cows from which they can depend. This speaks of your patience and foresight. What are the potentials in the projects you have? Can you nurture them to become real cash cows of the future? Any kraal that has no calves is doomed to closure when the zero tooth cows die off.
Are there calves in your kraal? Do you have projects that will be able to feed you tomorrow, and the day after tomorrow, and into the future?
What you feed yourself today will determine whether you get strong or you get weak. As we have said here before, feed your mind. Don’t go lifestyle before wealth building. Invest in your financial and personal education.
This refers to the books you read and the people you spend time with. Are they feeding you or draining you?
Gather your team together, your mentors, and coaches. Spend time with people who are already playing a better game than you are. As one wise man said, five years from now, you are exactly the same person you are today except for the books you read and the people you spend time with.  Fertile cash cows will remain hidden to a person with a faulty internal dialogue, because perception always comes from within. That is why it is called in-sight.
As long as the negative voice is louder than the positive voice, you will never see opportunities even if they were in front of you.
Make a decision that each day, you will do at least one activity that will propel you forward. First reinforce your commitments: getting out of debt, commitment to savings, and to learning and growing. Focus on income producing activities. And don’t be impatient with yourself, but never give up! Never ever give up!

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This entry was posted on October 31, 2013 by in Personal development, Personal Finance and tagged , , , , .

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