Connect with us

The 5 Forgotten Laws of Achieving True Success

Tebogo Toteng

Are you one of those people who have tried all success methods to no available, read books, watched movies, read the seven habits of highly effective people and then still nothing happened? Are you just about to give up thinking that success is destiny… just wait a minute.

 I am excited to share with you one of the greatest lessons that I have learnt from Success experts Mike Litman and Jason Oman in what they call The 5 Forgotten Laws of Achieving True Success.

This is obvious but the truth in it rung in me that I could not wait to share it with the followers of the MoneyMind column. So many people have the energy, the will and the desire to follow the routes of success but become demoralized when their hard work and willingness pay nothing.

Success is ordained by nature and nature has laws; laws that omnipotent to everyone in the universe. There is no substitute for these laws and the reason why we sometimes fail despite the great drive and zeal is because we are going against these laws.

The 5 Forgotten Laws of Achieving True Success. (Adapted from Mike Litman and Jason Oman)

Law 1: The Law of Growth
We are all endowed with the talents and skill to achieve great things but on the way to achieving our big dreams we need small victories on the way. Every success student is looking at making P1 million but they have not made the first P100 000, or looking at making the first P100 000 but they have not made the first P10 000. These goes against the law of nature because nature ordains that things must grow step by step. So before you aim for the first P100 000 try aiming at making P10 000 then grow to P100 000 and then to a P1 000 000. You need to get small victories to propel you to the bigger numbers

Law 2 The Law of Concentration
“Success is commitment to completion” Sometimes you try too many things at the same time working on multiple businesses concurrently however not making money in all of them. As a beginning entrepreneur you cannot succeed at multiple businesses or income streams, you need to focus on one project at a time and concentrate on it until it is complete.  

Law 3 The Law of Directed Thought
Direct all your thoughts to one business or income stream because if you divide your thoughts you are likely to divert your mind to other things. Work on that business alone and focus on it as if it is the only thing that matters. Commit your thoughts to it and give it undivided attention then you will be able to discharge yourself to your utmost.

Law 4 The Law of Self Power
One of my favourite quotes from U.S President Barack Obama is that “we are the change that we have been waiting for.” The power to success lies inside us, it does not come from success experts. We have the power to build wealth and financial freedom. Reading and getting motivation only act as catalysts but the power is inside us.

Law 5 The Law of pen and Paper
Only ten percent of adults have their goals written down but one of the most powerful laws of nature is that our goals must be written on paper. All self-made millionaires share this amazing secret, they all write their goals and ideas on a well-kept journal.

These laws do not by any chance suggest that you must limit your dreams but emphasize that you need to have victories on your success journey. The smaller victories build your self-esteem and propel you towards your bigger dreams.
Hope you enjoyed, I did. See you next week

Follow us on Facebook

Continue Reading


Botswana on high red alert as AML joins Covid-19 to plague mankind

21st September 2020

This century is always looking at improving new super high speed technology to make life easier. On the other hand, beckoning as an emerging fierce reversal force to equally match or dominate this life enhancing super new tech, comes swift human adversaries which seem to have come to make living on earth even more difficult.

The recent discovery of a pandemic, Covid-19, which moves at a pace of unimaginable and unpredictable proportions; locking people inside homes and barring human interactions with its dreaded death threat, is currently being felt.

This content is locked

Login To Unlock The Content!

Continue Reading


Finance Committee cautions Gov’t against imprudent raising of debt levels

21st September 2020
Finance Committe Chairman: Thapelo Letsholo

Member of Parliament for Kanye North, Thapelo Letsholo has cautioned Government against excessive borrowing and poorly managed debt levels.

He was speaking in  Parliament on Tuesday delivering  Parliament’s Finance Committee report after assessing a  motion that sought to raise Government Bond program ceiling to P30 billion, a big jump from the initial P15 Billion.

This content is locked

Login To Unlock The Content!

Continue Reading


Gov’t Investment Account drying up fast!  

21st September 2020
Dr Matsheka

Government Investment Account (GIA) which forms part of the Pula fund has been significantly drawn down to finance Botswana’s budget deficits since 2008/09 Global financial crises.

The 2009 global economic recession triggered the collapse of financial markets in the United States, sending waves of shock across world economies, eroding business sentiment, and causing financiers of trade to excise heightened caution and hold onto their cash.

The ripple effects of this economic catastrophe were mostly felt by low to middle income resource based economies, amplifying their vulnerability to external shocks. The diamond industry which forms the gist of Botswana’s economic make up collapsed to zero trade levels across the entire value chain.

The Upstream, where Botswana gathers much of its diamond revenue was adversely impacted by muted demand in the Midstream. The situation was exacerbated by zero appetite of polished goods by jewelry manufacturers and retail outlets due to lowered tail end consumer demand.

This resulted in sharp decline of Government revenue, ballooned budget deficits and suspension of some developmental projects. To finance the deficit and some prioritized national development projects, government had to dip into cash balances, foreign reserves and borrow both externally and locally.

Much of drawing was from Government Investment Account as opposed to drawing from foreign reserve component of the Pula Fund; the latter was spared as a fiscal buffer for the worst rainy days.

Consequently this resulted in significant decline in funds held in the Government Investment Account (GIA). The account serves as Government’s main savings depository and fund for national policy objectives.

However as the world emerged from the 2009 recession government revenue graph picked up to pre recession levels before going down again around 2016/17 owing to challenges in the diamond industry.

Due to a number of budget surpluses from 2012/13 financial year the Government Investment Account started expanding back to P30 billion levels before a series of budget deficits in the National Development Plan 11 pushed it back to decline a decline wave.

When the National Development Plan 11 commenced three (3) financial years ago, government announced that the first half of the NDP would run at budget deficits.

This  as explained by Minister of Finance in 2017 would be occasioned by decline in diamond revenue mainly due to government forfeiting some of its dividend from Debswana to fund mine expansion projects.

Cumulatively since 2017/18 to 2019/20 financial year the budget deficit totaled to over P16 billion, of which was financed by both external and domestic borrowing and drawing down from government cash balances. Drawing down from government cash balances meant significant withdrawals from the Government Investment Account.

The Government Investment Account (GIA) was established in accordance with Section 35 of the Bank of Botswana Act Cap. 55:01. The Account represents Government’s share of the Botswana‘s foreign exchange reserves, its investment and management strategies are aligned to the Bank of Botswana’s foreign exchange reserves management and investment guidelines.

Government Investment Account, comprises of Pula denominated deposits at the Bank of Botswana and held in the Pula Fund, which is the long-term investment tranche of the foreign exchange reserves.

In June 2017 while answering a question from Bogolo Kenewendo, the then Minister of Finance & Economic Development Kenneth Mathambo told parliament that as of June 30, 2017, the total assets in the Pula Fund was P56.818 billion, of which the balance in the GIA was P30.832 billion.

Kenewendo was still a back bench specially elected Member of Parliament before ascending to cabinet post in 2018. Last week Minister of Finance & Economic Development, Dr Thapelo Matsheka, when presenting a motion to raise government local borrowing ceiling from P15 billion to P30 Billion told parliament that as of December 2019 Government Investment Account amounted to P18.3 billion.

Dr Matsheka further told parliament that prior to financial crisis of 2008/9 the account amounted to P30.5 billion (41 % of GDP) in December of 2008 while as at December 2019 it stood at P18.3 billion (only 9 % of GDP) mirroring a total decline by P11 billion in the entire 11 years.

Back in 2017 Parliament was also told that the Government Investment Account may be drawn-down or added to, in line with actuations in the Government’s expenditure and revenue outturns. “This is intended to provide the Government with appropriate funds to execute its functions and responsibilities effectively and efficiently” said Mathambo, then Minister of Finance.

Acknowledging the need to draw down from GIA no more, current Minister of Finance   Dr Matsheka said “It is under this background that it would be advisable to avoid excessive draw down from this account to preserve it as a financial buffer”

He further cautioned “The danger with substantially reduced financial buffers is that when an economic shock occurs or a disaster descends upon us and adversely affects our economy it becomes very difficult for the country to manage such a shock”

Continue Reading
Do NOT follow this link or you will be banned from the site!