LONG TERM THINKING AND WEALTH CREATION

Every person wants to succeed in every endeavor of their life. There are so many routes to success and we can only learn from others but they can not decide for us the actions to take. Harv Eker in his book Secrets of a Millioniare Mind noted that successful people think long term. This assertion is validated by Brian Tracy in his book 100 Absolutely Unbreakable Laws of Business Success where he notes that successful leaders think long term. 

So what has long term thinking got to do with sustainable wealth creation? It means a big deal because as I interact with the youths who form the majority in Uganda( over 70% of the population is below 30 years) their arguments seem to be skewed to mainly short term ways to wealth creation. We are living in a generation where young people would prefer to be given hand outs than working for money. I have seen youths who are invited for financial literacy trainings and they ask if they will be given "transport allowance". What I have come to believe is that authentic wealth starts in the mind. This is well articulated by Dr. Dennis Kimbro in his book Think And Grow Rich: A Black choice where he mentions different black Americans who literary had nothing and today they are very wealthy. Today we see the accomplishments of leaders like Oprah Winfrey who had a difficult child hood but made a decision that she will become successful and  it is now evident. What about Ben Carson who used to be a weak student in class and today he is a celebrated neurosurgeon . He is remembered for separating the Siamese twins( not a small accomplishment by any standard). 

Anthony Robbins in his book Awaken the Giant with in notes that individuals, families and nations develop when they make long term decisions or raise their standards. Raising standards is related to long term thinkng.This is supported by Dr. James Magara in his book Positioning Africa for the 21st Century. He points out countries such as Botswana and Singapore whose leaders decided to form National Think Tanks to make long term decisions for these countries. Today these countries are developed.

From the above discussions it is important to note that long term thinking is a path to sustainable wealth creation for individuals, families, companies and nations.

HOW TO PRIORITISE LONG TERM THINKING

1.Develop a clear vision. It is Anthony Robbins who points out in Awaken The Giant Within that we drift in life because of absence of a clear vision. Why would a person decide to murder two innocent children while seeking for wealth as it happened to the suspected witch doctor in Kiboga District.  

2. Associate with successful people. Why is it that all presidents across the world select eminent advisors? it is because the quality of advice that we get determines the quality of our lives. This means we should be intentional in choosing mentors and coaches that can guide our lives.

3. Develop a positive attitude about life. Attitude is very key in living a successful life. Life is full of challenges. Not even the president of the most powerful nation on earth, the United States of America is immune to challenges. It is only those who choose a positive attitude that can overcome their challenges.

There is overwhelming evidence that long term thinking is positively correlated to wealth creation. Unfortunately thinking is no a simple process but it pays dividends as shown in the above case studies.


Phillip Kiryowa

Finance and Leadership Coach

+256752615916

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