Monday, July 31, 2006

Business Approach to Wealth Maximisation

I had a wonderful weekend. There was Mega-Sales all over the shopping malls. They were packed with people spending money. Goshh..spending money is so easy. It is engrained in our head to spend money all the time. Thinking about it in a business context, there's opportunities all around us simply because people spend money.

Several weeks ago, I read an article on New Sunday Times newspaper and I saw an article about "The Ways of Rockefellar and Carnegie are still relevant". If you not so familiar about the business world, Rockefellar and Carnegie is a total stranger. I've just know the two names last two years. Who are these people? Simply saying, they are ultra rich people who don't have to go to work like us in the rat race. ;-)

So, what does it have to do for you? Well, wealth maximisation is generally not for me because I'm broke physically, however we can always have a virtual mindset that is set to a 'wealth' mode. It's like what Napoleon Hill famous quote, "Whatever the mind of man can conceive and believe, it can achieve.". If you didn't know, Napoleon Hill eventually became broke. Oh well, everything in life must come to an end sooner or later.

Seperation of tasks

Studying about wealth maximisation, here's a number of job function that needs to be fullfilled:
  • CEO (chief executive officer)
  • COO (chief operating officer)
  • Administration & IT manager
  • Plan development manager
  • Operations manager
  • Review and control manager
  • Research and development manager
  • Various products and service specialists
All the job function is the traditional hierarchy as shown on the below image:

Wealth Maximisation Chart

Coming down to our own personal wealth, we need to choose smartly which hat to choose to put on to ensure our own wealth maximisation method. Some of the role can be delegated but we need to becareful of that. It reminds me of the outsourcing job that is mushrooming in our world and taking away small tasks that normally big businesses used to handle.

So, as a conclusion, your personal wealth is the most important business. We should all be wealthy.


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