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FINANCIAL WIZARDRY SKILLS FOR

THE 21ST CENTURY MEDICAL DOCTOR

By

Dr ‘ Tunde Ayeye MBBS, MBA, MPH



Some quotes

• There Is No Security On This Earth. There Is

Only Opportunity - Douglas MacArthur

“ “The secret of success in life is for a man to beready for his opportunity when it comes” Benjamin

Disraeli



CONTENTS

1. Introduction2. Misconceptions Of Financial Success

3. Habits And Mentality Of The Financial liberated

4. Process/Routes of Financial Success5. Introduction To Financial Prosperity Equation

6. Money Generation

7. Money Retention8. Money Multiplication

9. Environmental Multiplication Skills



Introduction

PROSPERITY IS A MATTER OF CHOICE!!!!

Financial Prosperity is a matter of choice.It takes about the same amount of mental and physical effort to beeither rich or poor. The only difference is in the:- Direction- Focus

- Responsibility

Most people wish to be financially prosperous but do nothing inthat direction It is imperative to mentally engage one’s self onthe pathway to achieve a clearly defined financial plan andobjective

Research shows that people’s motivation and productivity in lifeis highly correlated with the extent of awareness, understandingand involvement in personal financial success plans, habits, orprocesses.



Introduction

It was also discovered that the financial net worth of

individual staff has no correlation with the size of their

salary. That is, increase in salary or remuneration does notnecessarily translate to higher financial net worth,

even though it is highly correlated with higher consumption

of luxury goods and leisure services.

A Personal Prosperity Plan recommended as an ongoing

skills-based long-term plan to harmonize prosperity,mental posture and vision to achieve desired financialstate.



Introduction

BASIC DEFINITIONSIt is important for us to have a clear perspective and definition about themajor concepts about financial success. All the definitions below are takenfrom the chambers dictionary of the 20th century.

RICH – defined as having any ingredient or valuable or quality in greatabundance. i.e. richness may be due to the abundant possession of either

visible or invisible valuable possessions.

SUCCESS –

1. Defined as achievement of desired objective or goals.

2. Attainment of wealth, influence or acclaim.

FINANCIAL SUCCESS – can therefore be defined as the attainment of monetary wealth status desired by a person over a given period of time bythe use of legal wealth creation strategies.



(2) The Misconceptions of Financial Success

Every man is a product of what he thinks or hebelieves.

Majority of the dominant thoughts about prosperity

and financial success in the world are “myths”.

Though these ideas hold many people bound, theyare actually errors or wrong assumptions when

subjected to rigorous analysis and evaluation.

Lets review some common misconceptions…..



Some Misconceptions of Financial Success

1. Abundance mentality Vs Scarcity mentality

2. Luck Vs Hardwork/SmartworkDr. Thomas Stanley research on Leading World millionaire

Less than 10% - attributes to luck 90% - Get luckier as they work harder

98% of lottery millionaires return to poverty in 24 month orless

Lottery is a tax on those who are not good at math

3. Big bang Vs Steady growth4. The million first error



Misconceptions of Financial Success

INFERENCES AND DEDUCTIONS FROM DEFINITIONS

1. Wealth, although now fundamentally expressed by money, is notthe same thing as money. Money was created by man as a meansof exchange and expression of wealth, but men have always beencertified wealthy before money was invented.

2. Wealth – refers to a valuable possession of any kind includingphysical possessions such as money , cars, gold, houses e.t.c.

3. Invisible possessions are often despised, but they are the source

and precursor of the visible possessions.



Misconceptions of Financial Success

4. A man may be poor as a result of lack of both visible or invisible possessionshighlighted above.

5. Poverty resulting from lack of visible possession is relatively temporary andeasily curable. When a man loses all visible possession and has invisiblepossession he begins a process of recreation of visible wealth.

6. Poverty resulting from lack of invisible possession is relatively permanent anddifficult to cure. When a man inherits or has access to millions of Naira (visiblepossession) without a back-up invisible possession, through the process of corruption and mis-management, he will eventually end-up in lack (poverty). Thishe may never be able to recover from in his life time without appropriate

understanding.



1. BE DO HAVE

State of being Doing (Actions) Acquiring/fruits of doing

- Awareness what rich people do cars, Houses, Gold etc.

- Mentality Investment- Habits opportunities

Reading

- Association

- Unemotional Spending

CONCLUSION

PROSPERITY IS A MATTER OF CHOICE

Financial Prosperity is a matter of choice. It takes about the same amountof mental and physical effort to be either rich or poor. The only difference isin the:

- Direction

- Focus

- Responsibility

SIMPLIFIED PROCESS OF FINANCIAL PROSPERITY

Generates contradictingGenerates contradicting

resultsresults



A man can become financial liberated by taking either of the

following routes:

A. IDENTIFY OPPORTUNITIES, DEVELOP PRODUCT AND RUNA BUSINESS, GROW IT, ENJOY PROFITS – Business Man

B. ACQUIRE RELEVANT SKILLS, GET EMPLOYED, SEPARATEINCOMES INTO PARTS; DEVELOP FINANCIAL GOALS;INVEST FOR A LONG TIME; BENEFIT IN LATER YEARS –Career Professional

Not everybody has got the interest or capacity to run a privatebusiness. But anybody can become rich if they choose to be

* HOWEVER, THE COMMON FACTOR OF THE TWOROUTES IS THE MENTALITY OF THE RICH1 !

DUAL ROUTES TO FINANCIAL SUCCESS



HABITS AND MENTALITY OF THE

FINANCIAL LIBERATED

Dr. Thomas Stanley carried out research using over 500 of

the world’s leading millionaires. His purpose was to find out

if there are common characteristics among financially

successful people. He identified about 20 major

characteristics common to all of them.

Fourteen of the major characteristics identified are listed

below:

Ability to see opportunities

Visionary Mentality – see beyond immediate

Delayed Gratification



Aware of Creative Intelligence

Possess Determination and Persistence Control Expenses

Not Scared of failure

Open to new knowledge not close minded

Not ruled by Fear, but by their goals

Inwardly motivated

Prioritize Investment over consumption

Accurately distinguish between Assets and Liability

Value time, distinguish important from urgent things

Control their association



INTRODUCTION TO FINANCIAL PROSPERITY

Financial prosperity is a function of

• Money generation‘’You can get everything you want in life if you help enough people get what

they want”. Zig Ziglar

• Money retention

• Money multiplication

• Environmental manipulation

2



Financial prosperityMATRIX DIAGRAM

Q2Q1

Q3

Generation Retention

MultiplicationManipulation

Q4



- Opportunity Identification-- Generate money making ideas

- Convert ideas to money-- How to keep your products

and market

- The law of Order and Dis-order - Budgeting

- Personal Financial/records andAccountability- Savings as compulsory expense;- Law of habits, economies of

scale

-Time value of money and compound interest- Investment and Goal strategies- Long and short term investment types

e.g. Savings, fixed deposits, treasury bills

Bonds, mutual funds, insurance, stocks

G = GenerationRetention

ManipulationMultiplication

Internal

-Self Discovery

- Proactivity

- Personal vision- Work load

analysis- mind activation

programming

- advertising

manager

External

- Competition

- Competitive

Advantage- Invisible Corporate

assets- Strategy

Development



MONEY GENERATION SKILLS

Money Generation is composed of thefollowing:

- Ideas Generation

- Opportunity Identification- Target Market Identification

- Demand Estimation

- Customer Psychology- Strategic Selling



OPPORTUNITY IDENTIFICATION SKILLS (OIS)

PROBLEM-OPPORTUNITY PERCEPTION

A problem refers to a state of disequilibrium. It implies thata state of wholeness does not exist, and “should” exist. Itrefers to a need or a gap unfilled. A problem is the mostcommon thing everybody has access to. There areproblems everywhere. There are more problems in the

world than there are solutions.

Opportunities refer to an occasion offering a possibility for success. Advantageous conditions. Problems are

opportunities in disguise, and opportunities offer thepossibilities of making money. Real big money are madesimply because people identify opportunities and thenconvert them to money.



However, while problems are obvious and easily identified,opportunities are disguised and only recognizable by thosewho can identify them. Identifying opportunities requires anunderstanding of the concept of perception. Perception

means the interpretation given to events or reality asagainst the facts. So while two people may be looking atthe same situation or events, they may be seeing(perceiving) different things. So while one person may befocusing on the problem in that event or situation, the other

may be focused on the opportunities or solutions.

Opportunities and problems are simply two sides of a coin.Every problem carries with it a potential for solution fromwhich money can be generated. Your ability to createwealth therefore is a function of your ability to identifyopportunities and solutions in specific



problem situations. Money is every where there is problembecause problems come along with a potential for solutionsand an opportunity for making money. Look around your

neighborhood, church, office, e.t.c. You can see problems.Those problems are potential money. Just by developing theability to solve problems or proffer solutions youautomatically begin to create wealth.

The difference between two people’s perception of events,situations, problems or opportunities is in the interpretationsystems or mental filter. If you are thinking of making bigmoney, start thinking of several needs or problems aroundyou that you can proffer solutions to. The more you developyour mind through acquisition of information, the better willbe your ability to identify and interpret opportunities inproblematic situations.

IDENTIFY SOME PREVAILING



REVIE

W

ORRES T

ART

PROCESS

AGAIN

IDENTIFY SOME PREVAILINGPROBLEM OR CONCERN IN

YOUR ENVIROMENT e.g. state,town, street etc

For each Problem Identified,

list out existing solutions oropportunities through whichmoney is being currentlymade

For each solution currentlyexisting, identify gaps orlimitations not yet fullysatisfied by the providers of the solution

For all the identified loop holes orlimitation, list out ways you canprovide better solutions, or thingsyou can do better assuming youhave all the means at your disposal

Using what ever documents ortechnology at your disposal, find outand list how similar problemsidentified in 1 above are solved inother locations or countries; or themost recent technology ormethodology utilized in advancedcountries of the world

Note: It is usually betterto focus on problems forwhich you are passionateor emotionally attached

Note: Map out all

solutions you canremember withoutexception.

Note: Map out allidentified loopholeswithout exception

Note: Do not limit yourthinking to what you cancurrently afford. Just list allimprovement you canoffer



TARGET MARKET IDENTIFICATION

Another core money generating skill is Target MarketIdentification (TMI).

Target market can be defined as the set of people whose peculiar needs and wants a particular product is aimed at satisfying. This isdifferent from the people who may eventually purchase theproduct. E.g. While Mercedes Benz E Class may be purchased bymiddle income earners, it is not targeted at such a market. Thetarget market influences the following decisions and or attributesof a product:

Price

Packaging

Promotion Media

Distribution Channels Quality Definitions e.t.c.



DEMAND ESTIMATION SKILLS

Another major skill required for money generation is

Demand Estimation Skills (DES).

This skill provides you with an estimated value andvolume of demand for any product or solution generated

using the opportunity Identification skills (OIS). DESprovides a fairly accurate estimation of demand byanswering the following salient questions about thepotential market.

1.Who are the people who use the product or service? i.e.demographical, psychological or biological categorizationof people the product/service will be relevant to.



2. What is the rate of use of such product or service? How frequently will it be needed? Thisgives an idea of the rate of replacement or re

sue e.g. FMCG, Industrial Machines havedifferent rate of use.

3. Who actually buys the product? Often the user of a product/service may be different from the

buyers. The buyers and their characteristicsare more relevant to the realizable demand of the product.

4. 4. What is the motivation for purchase of the

product/service? This includes why docustomers buy the product? What mightinfluence prospective customers to buy it.



MONEY RETENTION SKILLS.

Contain principles and ways to use money you

gave to have better today and build a more

secure future at the same time. You spend

money only a few times a day. And yet those

few decisions can make all the difference

between poverty and wealth. The major problemwith most people is not the inability to generate

money, but the ability to effectively manage the

money that comes their way. We shall discuss

the principles and concepts of money retentionunder the following sub-topics.



PERSONALPERSONAL

FINANCIAL GOALSFINANCIAL GOALS

UNDERSTANDINUNDERSTANDIN

G THEG THE

FOUNDATIONFOUNDATION

OF ALLOF ALL

FINANCIALFINANCIAL

SUCCESS.SUCCESS.

BUDGETINBUDGETINGG

M.R.S

SAVINGS & INVESTMENT



Understanding the Foundation of all Financial

Success.

The basic idea behind the concept of understanding thefoundation of all financial success is to understand the

essential money skills that will take you to financial

security. If you don’t control it, you won’t be able to save

it. There won’t be any surplus to invest. If you can manage

the pennies in your life, then you’ll be ready to manage themillions that will soon be flowing into your life. If you can’t

manage the pennies, even though millions may come, you

won’t be able to hang them . Taking time to record what

you do with the money that passes through your hands ona day to day basis will pay off in valuable information about

the state of your financial affairs.



One thing you need to do is take a financial

inventory. This means sorting out the

money and other assets that are all yours

from those that someone has a claim on,

finding out what you own and what youowe.

Your Cash Flow



Your Cash Flow

INCOME TOTAL FOR THE YEAR (N) MONTHLY AVERAGE (N)

Take-home pay ______________ ______________

Dividends, capital gains, interest ______________ ______________

Bonuses ______________ ______________

Other ______________ ______________

Total Income ______________ ______________

EXPENDITURES

Rent ______________ ______________

Food ______________ ______________

Insurance Premiums ______________ ______________

Household Maintenance ______________ ______________

Transportation ______________ ______________ Loan payment ______________ ______________

Clothing and care ______________ ______________

Savings and Investment ______________ ______________

Charity ______________ ______________

Recreation and entertainment ______________ ______________

Miscellaneous

Total Expenditure ___________ ____________

SUMMARY

Total Income ______________ ______________

Minus total expenditures ______________ ______________

Surplus (+) or deficit (-) ______________ ______________ •

SO C GO S



PERSONAL FINANCIAL GOALS

What really are your personal financial goals?. Chose

goals you can get excited about because they will

make you more determined to reach them. Tryclassifying them as either wants or needs. Go a step

further and add short term and long term to the

description. You could shift priorities around.

Financial security sounds good, but it is hard toquantify. How about this?. I want to own a million

naira worth of stocks by the time I’m 50. Now you’ve

got goals that can be translated into savings and an

investment plan that you can start today.



Target: How much total money would you

like to accumulate?

Amount: How much time a day can you

squeeze out of your life?

Rate: What interest rate can you earn

on your invested Naira?

Time: When would you like to reach

your goals?

Purpose: What is your financial purpose?



BUDGETING

A budget is a device used to plan for and control the inflow and outflow

of cash by an individual or organization. It is a means of setting and

reaching your goals.

BENEFITS OF BUDGETING Priority Spending – Budget ensures that a person spends his hard

earned income on needs that are of priority, rather than based onemergencies and emotional spending.

Easy and better Financial Decision – Because a man has a budget, his

decision to either yes or no to any financial proposition will be easier and better. This is because his options have been narrowed downbased on rigorous analysis and objectivity.

It becomes very obvious as to which class of expenses is consumingthe greater percentage of your income, and which one is suffering.

With very little effort, you can easily know exactly how much you have

spent on a particular item. You now have accurate information and can take strategic decisions

e.g. in Lagos, many people take accommodation decisions withoutfactoring the cost of transportation and sundry inconveniences.



A Budget for Today and Tomorrow.

USE THIS FORMAT to get on top of your

living costs by projecting expenditures in

various categories. Then record what you

actually spend and see how close your projections came to realization. Do this

month-by-month to begin with, and you’ll

see where you need to plug the leaks inyour spending.

INCOMEINCOME



Take-home pay Take-home pay ______________ ______________ OtherOther ______________ ______________

T Totalotal ______________ ______________ PROJECTEDPROJECTED ACTUALACTUAL (+) OR (-)(+) OR (-)

Mortgage or RentMortgage or Rent __________ __________ __________ __________ ______________ ______________ Savings/InvestmentsSavings/Investments __________ __________ ______________ __________ __________ ______________ Emergency FundEmergency Fund __________ __________ ______________ __________ __________ ______________ Investment FundInvestment Fund __________ __________ ______________ __________ __________ ______________ Food and BeveragesFood and Beverages __________ __________ _____________ __________ __________ _____________ElectricityElectricity __________ __________ _____________ __________ __________ _____________

Telephone Telephone __________ __________ ______________ __________ __________ ______________ WaterWater __________ __________ ______________ __________ __________ ______________ Public TransportationPublic Transportation __________ __________ ______________ __________ __________ ______________ ClothingClothing __________ __________ ______________ __________ __________ ______________ Pocket MoneyPocket Money __________ __________ ______________ __________ __________ ______________ Personal CarePersonal Care __________ __________ ______________ __________ __________ ______________

CharityCharity __________ __________ _____________ __________ __________ _____________Recreation and entertainmentRecreation and entertainment __________ __________ _____________ __________ __________ _____________Medical and DentalMedical and Dental __________ __________ _____________ __________ __________ _____________Special ExpensesSpecial Expenses __________ __________ ______________ __________ __________ ______________ MiscellaneousMiscellaneous __________ __________ ______________ __________ __________ ______________

SubtotalSubtotal __________ __________ ______________ __________ __________ ______________

TotalTotal __________ __________ ______________ __________ __________ ______________



SAVINGS AND INVESTMENT

The only way to accumulate a net worth that is

worthwhile is to make a habit of spending less

money than you are taking in.

Budgeting as described is a good way but

whether you budget not, the money that

flows through your hands on a regular basis isthe key to getting ahead.

Yo can al a s sa e a lot of mone b taking



You can always save a lot of money by taking

the following steps:

1. Shop with a list …… and stick to it

2. Do your bank charge high fee? Move your account.

3. Rent: never buy something you will use a few times.

4. Send text instead of calling.

5. Skip the movies – rent a video instead.

6. Drive out? Eat in.

7. Don’t buy that book, instead get to the library

8. What’s in a name? Buy generic instead.

9. Pay yourself first – set aside a naira a day.

10. Don’t spend your next pay rise – invest that moneyinstead.

11. Take buses and less okada



Forms of Investment options available:

i. Certificates of Deposit.

ii. Interest Earning Account.

iii. Money Market Deposit Account

iv. Money Market Fund

v. Asset Management Accounts



MONEY MULTIPLICATION SKILLS

BASIC INVESTMENT CONCEPTS AND PRINCIPLES.It takes a lot of effort to generate and retain money. Financial

success and wealth creation is however not complete without the

knowledge of money multiplication. Generating and retaining

substantial money without knowing how to invest excess income can

only be likened to clapping with only one hand. This quadrant weshall concentrate on the principles and concepts of financial

investments. We shall discuss this concepts under the following sub-

headings:

- Time-value of money- Risk and Investment Profitability

- Investment goals and objectives

- Possible Investment tools/products



BASIC INVESTMENT CONCEPTS AND PRINCIPLES

• Time Value of Money : the concept of time value of moneysimply means that the value of one Naira today, is not the sameas one Naira tomorrow or in one month’s time or a year. This isbecause the money could have been used to do so many thingswithin that specified period to yield interest or profit or money.

Consequently, we should rather receive a Naira now thanreceive the same amount in future, even if we are certain of receiving it later. Application of this principle parades thebusiness environment and it’s core to your ability to multiplymoney:

• - If you have N100,000=00 now and you leave it in a no interestbearing account, you are throwing away money. The money isbeing eroded by inflation and loss due to opportunity cost.





• - Discount rates, bulk purchase, inventory management, salespromotion strategies have as their basis an understanding of this

principle.

RISK AND INVESTMENT PROFITABILITY

• Another fundamental principle of investment is the relationshipbetween risk and the return on investment. The higher the risk the

higher the likely profitability of that investment. Risk is a measureof uncertainty. The higher the certainty, the lower the profitabilitypossible e.g. salary is supposed to be risk-free, and that is why itmay not be the most profitable form of time investment. Businessmen use knowledge and experience to avoid complete uncertainty,

but invest in calculated risk. Calculated risks are those for whichinformation and past experience may be available for analysis.





• INVESTMENT GOALS STRATEGIES

• Effectively multiply your excess income requires that you setspecific financial goals and objectives for your future. Thegoals may vary from those that address short-term financialproblems to those that address long-term financial problems.Set clear goals for how you want to use your money. A goalsis what you want to achieve as an individual or organization. Itmay include things like – a house, a car , a comfortableretirement, an amount of money stream for your family whenyou die or if you can work e.t.c.Next thing to do is setappropriate strategy (I.e. how to achieve that goal) Set your

strategy according to what you want to achieve/accomplish.Basically there are 3 major strategies that you can use toachieve your financial goals.





1. Protection

2. Income3. Growth

Protection strategy means you want to hold onto what you’vealready saved. This means you need to make safety your priority.For protection therefore, you want to invest in such a way that you

keep close control over your money by lending it for short periodsto borrowers who have proven, reliable reputations. Sinceborrowers can’t do much with your money, they have to repayquickly, they shouldn’t pay much interest. That’s an acceptabletrade-off for investors

Income Strategy – The second main strategy is to make incometop priority. This means earning an income that will not onlyoutpace inflation, but provide some additional money.





• INCOME: the second main strategy is to make income top priority.This means earning an income that will not only outpace inflation, but

provide some additional money. Investment to earn income is for people who want to receive regular installments in the amount of money they can earn or when they will earn it. This class of investorsallow others to use their money for longer periods of time than theywould allow if they were protecting the money. In return, they expectto be better compensated for taking the added risk that is a by-product

of having less control.• GROWTH: The third main strategy is to list your top priority as using

your money to grow money. A growth strategy requires investors togive up the most control and a significant level of predictability aboutthe success of the strategy. In return for unpredictability and loss of control, Growth investors expect to be more highly compensated than

protection or income investors and within a reasonable time period.





• COMBINATION STRATEGIES: there are three mainasset classes that coincide with the three investmentstrategies. Dividing or allocating the available moneyamong the assets classes (e.g. a 30%, 30%-40%allocation model) is considered a crucial part of any

investment plan. Each asset class is better suited for a particular strategy than the other two. As aninvestor, you need to allocate certain percentage of your investment Naira to each of the asset class

identified above. The table below shows the differenttypes of investment tools and instruments that canbe used for money multiplication based on differentgoals and strategies.

Cl f S t d R l t I t t I t t



Class of objective/financialGoals

SuggestedinvestmentStrategy

RelevantInvestmentInstrument(Generic)

Investment InstrumentsSpecificExamples/Name

Short term goals (0-12months) e.g. buyingcar, children schoolfees

StrategyProtection Cash Equivalents Savings Accounts, Fixeddeposits, Treasury bills

Mid-term goals(12month-5years)

Income Strategy Bonds

Variable Annuities

Real Estate

Government bonds e.gLagos state, Corporate

bonds e.g. reliablecorporate bodies, MutualFunds

Insurance Policies (life),Buying & selling of landedproperties

Long-term goals (5-20ears)

Growth Strategy Stocks

Private personalbusiness

Shares – ordinary,preferred

Various



(10) ENVIROMENTAL MANIPULATIONSKILLS

A. INTERNAL ENVIROMENT

- SELF DISCOVERY

- PROACTIVITY

- PERSONAL VISION

- OBSTACLE/CHALLENGES MANAGEMENT

B. EXTERNAL ENVIROMENT

- - UNDERSTANDING MARKETS &COMPETITION

- MARKET LEADERSHIP EQUATION.

Th M h Ab M M ki



The Myths About Money Making

Opportunities



Mythology #1

MMO is determined by luck or chance.Dr. Thomas Stanley research on Leading World

Millionaire Less than 10% - attributes to luck

90% - Get luckier as they work harderRobert G. Allen research on Leading World

Millionaire 98% of lottery millionaires return to poverty in

24 month or less Lottery is a tax on those who are not good at

math



Mythology #2

MMO is relatively Scarce

Everyday you spend several times the

number of times you earn



Mythology #3

MMO is exhaustible or have been exhausted

As long as you will keep spending money

As long as you spend money, someone ismaking money.

As long as someone is making money, it

means MMO will not, and cannot be

exhausted as long as human being are on

the surface of the earth



Mythology #4

MMO comes once in a life time

Since money is spent everyday MMOcannot be a once in a life time event.



Mythology #5

You will always identify an MMO whenyou see one

Wh M t P l ’t R i



Why Most People can’t Recognize

an MMO

We are not trained to see MMOS –Pilot/Doctor

You only see what you are looking for –RAS car/Accident

Most people are impressed by their training & professional

qualification

House fly + bee escape experience

Law of Identification – MMO filtered away

unconsciously – ( “I’m a teacher, I’m a Mathematician,

I read history”)

Childhood Ambition – “I want to be a millionaire”

Spectrum Of Ignorance Analogy



Spectrum Of Ignorance Analogy

Direction Of Light Intensity

Complete

Darkness

Full awareness&

Identification

Of MMO

Full clarity

Of MMO

No awareness

Of neither

Shadow or

object

No problem

No MMO

Full Light

Intensity

Full AwarenessOf big problems

And gaps in

Neighbourhood

Or environment

Dim Light

Intensity

Magnified

Shadow over

Object size

Ignorance Partial/Knowledge

Full

Knowledge

Sick, dead,

Unconscious, Children

Poor & Middle Class Rich& Super

RichDirection of Darkness Intensity



What is an MMO? How can it be Recognized

Derivation from Spectrum of Ignorance Analogy

Object – Money Making opportunity

Shadow – Problems, Gaps & Needs

The bigger the shadow the bigger the object. The bigger the problem or

gaps or need in a particular area of human endeavor, the bigger themoney making opportunities.

It is impossible to have shadow without the existence of object which is

the source of object

It is impossible to have problems or gaps, or needs without correspon-

ding money making opportunities. Problems & MMO are two sides of thesame coin.

Wh t i MMO? H it b



What is an MMO? How can it be

Recognized

While shadow are often bigger and easier to see, the

object from where the shadow is derived often have to

be sought for. While needs, gaps or problems are easily

seen by everybody, MMO have to be skillfully identified It is possible for two people to be perceiving separate

things while looking at the same event.

One person may be focusing on the shadow, while the

other may focus on MMO.

You only see what you are looking for



Application of MMP Table

Investment Appraisal Opportunity Evaluation

Business Diversification Decision

Indirect Investment Decision – Stocks & Shares Survival in Economic Depression

Business Strategy Decisions



Viability Index (VI%)

Viability Index (VI%) is the quantitative

estimation of the probability of the ease with

which a money making idea can be

converted into visible reality through the

process of implementation by a given

individual.

D.J Noone developed a five factor idea evaluationcriteria. These criteria include the following

Criteria Description Measuring Scale



60

Time Since time is money. How long will ittake to implement? The quicker, thebetter the value.

Risk What is the cost of failure in case ithappens? The smaller the cost, thebetter.

Investment What kind of financial obligation is

required? What is the potentialreturn on investment?

The higher the ROI, the better.

Ease of Implementation

Does the ideas require severalcomplicated processes and co-operation of many other people

apart from yourself. Does it requiresimple steps or just your family?

Gut Feeling Institution or strong inner feeling.How inwardly convinced are you?The higher your inner conviction,the higher the factor rated

5 2.5 1

Shortest

Implementatio

nTime

Average

Implementation

Time

Requires

Longer

Implementa

tion Time

15 2.5

Very high

ROI

Average

ROIVery low

ROI

5 2.5 1

SimpleStep. Only you

Fairly detailed.

Few people

Complex process.Others( Many)

2.55 1

Very High

Inner Conviction

Average

Inner ConvictionVery low

Inner Conviction

5 2.5 1

Small

Bearable

Cost

Average

CostHigh Devastating

Cost



Sample Evaluation Table

Ideas to be Evaluated Time Risk Investment Ease of Implemen-tation

Gut Feeling VI%

Total * 100

25

Get new franchise 2 5 3 5 2 68%

Employ more sales men 1 4 4 4 1 56%

Aggressive Advertisement 2 2 5 3 1 52%

Increase Commission % 2 1 2 2 2 36%

Outsource SalesDepartment

4 4 4 1 4 68%

Take customer to lunch 5 3 1 4 5 72%



Mind Mapping (Brain Dump Technique)

Mind mapping is a powerful technique. It is a methodology of brain dumping that takes advantage of the hemisphericspecialization and the concept called ‘mind burst’.

Recent brain/mind research has shown that the mind’sattention span is extremely short – between five to seven

minutes depending on the subject matter and level of interest.The mind works best in these short burst of activity.

Mind mapping takes advantage of the tendency of the mind towork in short, intensive “mind burst” by allowing you to “dump”your ideas and thoughts on paper in just a few minutes. It

allows you to get information down on paper the way your mind handles it rather than in a rigid outline form. Each mindmap is a unique product of the person who produces it.



There are no right or wrong mind maps. It is simply atechnique to help you get your ideas down on paper, to make

new connections in your thinking, to become more creative.

Mind Mapping encourages you to make associations and tolook for new paths of thinking. It delays the critical, judgmental part of the thinking process. Although judgment is

an essential part of innovation and MAP, it kills the generativepart of the process if applied too early.

When we begin to think about a problem or situation, wewant every association, every connection, every pattern to

come out, so we can pick and choose what works best. Mindmapping can be applied in virtually any area of life thatrequires thinking and decision making.



Mind Mapping & Stimulation / Association

The principle of association relates to the way your memory works. In your brain there are billions of piecesof data. Everything you have ever read, observed, felt,smelled, torched, heard or even thought about is floating

around inside your brain. The depth and breadth of thisLibrary in your brain is simply astonishing. Our basicproblem is getting access to this fount of knowledge andusing it to help solve our problems.

Mind Mapping is a powerful tool that enables us toaccess this knowledge.

Steps for Converting MMO to Money Making Ideas (MMI)



Focusing on sub-category or existing industryselect a specific MMO you will like to convert to MMI

For the selected MMO. List out the existing solutionsor products through which money is being made Inyou domain

For each of the products or solution Listed above. Identifygaps, Limitations or loop holes not yet fully satisfiedby the providers of the product or solutions

For each of the identification loop holes or gaps map out

ways you can provide better solutions, or things you dobetter, assuming you have all the means

Using any document or technology at your disposal, findout how similar problems or MMOS identified above aresolved in other countries of The world – advanced countries

Revie

w

Or

Repeat

Proce

ss

Note: Ensure you try and

draw a balance between high

(MMP%) and your passion,

interest or skills

Note: Use the Mind Mapping

Techniques to write out all

the solutions or products you

can remember

Note: MAP out all the

identified loop holes as

much as you can

Note: Do not limit your thinking

to what you can currently afford.Just list all improvements you

Can offer

Using Human Need Categorization Diagram. Identify

a specific Need Category of interest . Use yourneighborhood, city, or town as reference

financial wizardy for doctors-1

Documents