Why Get Rich When You Can Be Wealthy?

Getting rich is the main goal for a lot of people. That is unfortunate however, because there is something so much greater than simply the accumulation of money. Now don’t get me wrong – I am not saying people shouldn’t have large sums of money. In fact, I believe greatly in the power of money for good when in the hands of the right people. I think money is simply a tool that people can use to do great things – or bad things.

What is unfortunate is that so many people give up so much else in life in order to get those large sums of money. First of all, let me explain my quote about rich fools. Just turn on the TV or read a popular magazine and you will find lots of rich fools. You will see people with tons of money but who have no happiness, have drug problems and who leave behind them a string of broken relationships. These people are rich, not wealthy.

Rich people are people with lots of money. Wealthy people are people who are rich in life. This would include financial stability and freedom, but goes deeper into spiritual health, emotional and relational health, and of course physical health.

I think getting rich is easy. It is simply a discipline that anyone can do if they so choose. There are many examples of people who have made very little money who have left vast fortunes. Spend less than you earn, save more than you spend. Put what you spend into an interest bearing investment. Do this over a long period of time and you will get rich.
Wealthy? That is something altogether different. I have found that in most cases you must give up some wealth to get the riches.

I know many rich people and very few of them are people who I would call wealthy. Most of them sacrificed their families, their health or their relationships as they pursued the accumulation of riches. The fact is that it takes time to make money. And every moment of time you spend in the pursuit of money is a moment of time taken from something else that would make you wealthy in life.
So let me ask you: Are you on the fast track toward riches? Or are you on the long-track toward true wealth?

Are you being wise with your finances so as to secure long-term financial stability and independence? I hope so, because that is certainly a part of being wealthy.
Are you investing in those closest to you? I hope so! The fact is that when you lay on your deathbed, it won’t matter how much money you have. The grim reaper doesn’t need any more money and so he can’t be bought with yours! The only thing that will matter are those faces that surround you, the looks of love they give you, and the memories you have of good times spent with them.

Are you taking good care of yourself physically? I hope so because if you don’t, you won’t get the mileage out of it that you were intended too! Physical health is part of being wealthy!

Are you taking care of your spiritual life? I hope so because I don’t think there are any more important questions we can answer than those who’s answers will play themselves out for eternity. In my mind, spiritual questions make all the others seem like child’s play. Are you taking good care of yourself emotionally? I hope so because it is your internal state that will give you the energy you are looking for to live long and the peace to enjoy that life of yours.

All in all, I have decided that I don’t want to stoop to being rich. That is too low of a goal for me. I want to be wealthy – financially yes, but not to the exclusion of my body, soul and spirit. Not to the exclusion of deep and meaningful relationships with my friends and family. How about you? Will you be rich or wealthy?

Theo Ukpaa is a Business Development Expert and a Life Coach

How to Develop Skill and Characteristics Employers Want

In Nigeria today, so many undergraduates already possess some of the attributes employers want prior to commencing their Degree in Universities or Diploma in Polytechnics through their programme of study or through work experience opportunities. Most graduates roam the streets with their resumes’ and certificates looking for employment while so many companies still travel abroad to employ expatriates. There is only one explanation to this regular occurrence and that is the fact that most Employers don’t want certificates, they simply require skills. So the big question is “How do you develop skills and characteristics Employers want”.

I came up with these after careful research and close interaction with over 125 Top Human Resource Managers and 72 Senior Executives from huge International conglomerates in Lagos, Abuja, London, Vienna, Paris and New York. So simply see this as a Guide to future employment or a clue to master your already developed skills. This is probably the reason why you never get called back after an interview.

Development of skills through your programme of study
Universities and Polytechnics present many new challenges for younger undergraduates which include becoming financially independent and meeting new people. These challenges are recognized and valued by employers as contributing to personal development and maturity. During their programme, students must learn to organize their workload and manage their time effectively in order to meet deadlines. Often this means organizing their schedule to allow enough time to undertake paid work as well as study.

Many programmes are assessed on the basis of coursework rather than exams. Students must therefore learn to ‘juggle’ more than one project at once. Students are now able to choose from a diverse range of subjects on modular degree programmes. Students must, therefore, be flexible and adaptable enough to switch between subject areas. Through their programme of study, undergraduates learn to communicate information both verbally and in the written form through project work, report writing and oral presentations. Group work exercises and team sports develop an undergraduate’s team-working skills. In addition, students develop subject-specific knowledge and basic computer skills.

You can Develop your skills through work- experience opportunities
Some attributes are difficult to develop in the classroom. These include the ability to present and sell oneself at interview, the ability to appreciate workplace culture and interpersonal skills. Work experience is widely recognized as the most appropriate medium through which to develop these attributes and prepare students for work. I once spoke to a Human resource executive in one of Nigeria’s large company’s and he says “I do believe that four-year degrees with a year out in industry are a good way of building some of the interpersonal stuff. I don’t see any other way to do that; you can’t expect the degree to do everything”.

Not all undergraduates are fortunate enough to have the opportunity to undertake a work placement during their degree. The best push has been the National Youth Service Corps (NYSC) and its loosing its orientation gradually by the year. However, students may have the opportunity to undertake either structured vacation placement such as the STEP programme or ad hoc work experience including voluntary work and part-time work. Some undergraduates in Lagos and London have benefited immensely from the YesAfrica annual Undergraduate workshops organized by the YesAfrica Initiative. To participate in upcoming YesAfrica Programmes, send me a mail with your profile.

Increasingly, part-time work and voluntary work are being recognized as providing potential opportunities for undergraduates to develop skills and attributes. Although not highly skilled, this type of work, which often includes shop and bar work, requires students to communicate effectively and work with others in a pressured environment. These are all ‘transferable skills’ that graduates will use in future roles.

What skills and attributes do employers want?
The possession of a range of skills and personal and interactive attributes are at least as important, if not more important, to employers than the possession of qualifications.
The Personal attributes most employers want are:
Intellect - the ability to analyze critique and synthesize information in order to solve problems;
Knowledge - an understanding of ‘basic principles’ rather than large stocks of specialist knowledge;
Commercial awareness- an appreciation of workplace culture, this might be difficult for those who never lived with fellow students in a school hostel.
Willingness to learn- the ability to learn and continue learning throughout life;
Flexibility and adaptability- the ability to respond to change, to pre-empt change and ultimately to lead change;
Self-regulatory skills- self-discipline, time-keeping, the ability to deal with stress, to plan and prioritize your workload and to ‘juggle’ several tasks at once;
Self-motivation- being a’ self-starter’, resilient, tenacious and determined;
Self-assurance- self-confidence, self-awareness, self-belief, self-sufficiency, self-direction and self-promotion.

The Interactive attributes most employers want are:
Communication skills- the ability to communicate, formally and informally, verbally and in the written form, with a wide range of people both internal and external to the organization;
Interpersonal skills- the ability to relate to, and feel comfortable with, people at all levels and to be able to make and maintain relationships as circumstances change;
Team-working- the ability to work effectively in teams, often more than one team at once, and to be able to re-adjust roles from one project situation to another in an ever-shifting work situation.

“Incase you wonder if you will need the same attributes irrespective of Job type”? A Senior Executive of a large brewing company in Nigeria once told me “I do not see management competencies changing significantly; what I see is that in some circumstances, in some stage of development, some of them will be more important than others, but things like commercial awareness, some basic intellectual capabilities, results orientation, interpersonal skills, will always be important”. The Fact is, there are innumerable studies that have shown that a set of ‘transferable skills’ or ‘competencies’ including communication, team-working, problem-solving, leadership, innumeracy, self-confidence, willingness to learn and flexibility, are widely required by employers generally. Furthermore these lists of attributes have changed little over time. There have been some slight shifts in emphasis, reflecting preferred ways of working, but essentially there has been very little change in the last 10–20 years.

Theo Ukpaa is a Business Development Expert and a Life Coach