Resources management -a critical Success Factor

Your ability to manage your resources effectively and efficiently is one of the critical factors you need to succeed in life. If you manage your resources well, success is certain. Contrarily, if you mismanage your resources the result is mediocrity. Individuals, organizations, communities and countries that have produced consistent successful results all over the world are those that have mastered the skills to manage whatever resources is available to them judiciously. On the other hand, those that have failed to manage their resources well are mostly either struggling or very poor. Consequently, it is very important for you to assess yourself on this aspect of life. Are you managing your resources wisely? Are you squandering your resources?

Broadly, resources can be classified into two categories, tangible resources and intangible resources. Tangible resources are those things which you can physically touch and feel. Intangible resources on the other hand are not physically visible. Among the two categories, the most important and potent are the intangible resources. Why? You need intangible resources to transform tangible resources into something of value. Whoever controls the intangible resources controls the economic power. Unfortunately, in Africa we attach more value to tangible resources, while we pay little or no attention to the intangible resources. That is why majority of African countries are poor and backward despite their abundant mineral resources (tangible resources). On the contrary, developed, rich, successful and powerful countries focus more on intangible resources. In fact, some of them have little or no mineral resources but they have exploited the power of intangible resources to wield enormous political and economic power in the world. Notable among such countries is Japan; the second biggest economy in the world has little or no natural resources. Japanese economic prowess is mainly due to her ability to manage efficiently intangible resources. Similarly, a critical analysis of successful people in the world showed that they value and pay serious attention to intangible resources.

What are Intangible Resources?

Considering the power of intangible resources, it is important to take a closer look at some of them.

Time: This is the most valuable intangible resource available to humanity. It is limited in supply and is not replenish-able. Time is more valuable than money. Very few people understand this secret and those few are rich and successful. Contrarily, poor people value money more than time. That is why a typical poor man works hard for little stipend all day instead of focusing on how to convert their time into intangible resources which can be exchanged for value. Poor people spend their time working hard to accumulate tangible resources which depreciate in value. Rich and successful people work smart to convert their time into intangible resources which are more durable and potent than tangible resources.

Knowledge: Another potent intangible resource that can be harnessed to achieve great result is knowledge. Your knowledge and understanding of a problem will help you to design an effective solution to the problem. This solution can be packaged into a product whose commercial success will lead to your financial breakthrough.

Your Mind: Your achievements in life are products of your mind. Thinking process takes place in your mind. Before you make a decision, it first passes through thinking process in your mind. You have the potential capacity to use your mind to think out solutions to any problems or challenge you encounter in life. However, human mind only become powerful if it is properly developed. How then do you develop your mind? It is done by learning. You learn by researching, reading, listening to informative audio and video materials, attending seminars and lectures. Some people have not read a book or attended a seminar since they left school 20 years ago. Instead they keep vigil and disturb God to give them breakthroughs and miracles. God had given you the capacity to breakthrough. It is left to you to do your own part. Note that, God will not do for you what he has given you the capacity to do.

If you really desire real success in life, you need to manage your resources judiciously, most especially your intangible resources. Stop that wastage and be accountable for every bit of resources at your disposal. Successful rich people understand the potency of intangible resources. Hence, they focus on them and exploit them to achieve outstanding results. You can also do it! It is very simple. Use your time to acquire knowledge, that is, develop your mind. Use your mind to think out solutions to problems by applying your knowledge. When you do this, you will surely experience positive financial transformation.

Thank you for reading this week edition of muyiwaOKEOLA weekly. I hope you will take time out to read the next week edition. If you have any question, enquiry, advice or contributions please send it to muyiwaokeola@gmail.com. If you wish to receive muyiwaOKEOLA weekly by mail, please send ‘subscribe’ to muyiwaokeolaweekly@gmail.com .

Please feel free to forward it to as many people as possible.

Have a great week!

Read, Act, Overcome and Succeed!

Muyiwa Okeola

Advertisements

About muyiwaokeola

Positive Transformation Agent
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s