It is a sad fact that the majority of South Africans have little to no savings, and mountains of debt.
Max Moyo- of IgniteMyPotential-, who will be a speaker at the upcoming SA Business Excellence Forum, has a simple response to people who are struggling with debt. “If you are broke you are broke because you don’t know who you are,” he maintains.
According to Moyo, as a society, we need to get back to the African Village wealth model. He says that this is an investment model based on the 7 Key Principles of Investments.
“These principles are timeless, boundary-less and transcend race, gender and nationality,” says Moyo. “If followed systematically, they will produce a generation of wealth. Every village from time immemorial used them. Over time we have lost these ideas and we now find ourselves in debt and depending on the state for retirement.”
Some of the basic principles include becoming knowledgeable about investing and finance, and grasping the power of compounding.
A key step, according to Moyo, is also becoming aware of your identity.
“Every person is born with a unique Identity (ID) or Irresistible Difference,” he adds. “That has a direct impact on how much money we make and how we spend. If you are clear about your Identity, you know what you’re good at. If you don’t know who you are you will spend your money trying to buy Identity. That’s why people buy things they cannot afford.”
According to Moyo, knowing your Identity leads to knowing and harnessing your unique talents and purpose.
“No one has ever lived a life of purpose and wanted for money,” he says.
To learn more from Max Moyo and to hear other industry experts present on the various aspects of running a successful business, book your ticket to attend the Business Excellence Forum & Awards in November 2015.
for more information or call 012 665 1015.
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