CHAPTER TWELVE: Top 35 Business and Life Principles I learnt from my Billionaire Mentor, Dr. Abib Olamitoye

Hello ,

My Dear Millionaire friend,

I met him about 10 years ago as a serving Youth Corp member. Someone invited me to his monthly seminar at Abeokuta, Nigeria. He spoke a lot of business sense at that 2-hour free seminar and since that day, l started attending the monthly seminar till date.

Interacting with him and his books, seeing him achieve great feats like owning and running 4 hospitals, 3 hotels etc. have been a great source of inspiration to me. He is a Medical Doctor and Business Leader.

This chapter is for him and I am going to share the Top 35 Business principles I learnt from him. His 100/10 Academy has produced a lot of billionaires as they have a vision to produce 100 billionaires every 10 years and he has written more than 20 books on different aspects of business and life.

Here are the principles:

1.    Key to any type of improvement is gradual mental development. The difference between a beggar and a billionaire is their mental development. They both have the same anatomical structure. It is information that every individual needs to transform his situation.

2.    Books hide the greatest and strangest Secrets of prosperity and abundance. Many successful men have written books on how to accomplish virtually anything worthy of pursuit. It would be prudent to live in the company of such books, all the years of your lives.

3.      The first step, before starting any business, is to read books about the business. This is intended to help you take some intelligent steps and calculated risks in the direction of success. Asking others for the way to success can propel you faster than reading several books, especially when you ask the right people.

4.    You must save at least 10% of every income, profit, salary or wage in a secured bank account. You pay yourself first.

5.      At the start of a business career, you do not think about what you don't have. You begin to think about what you have. You assemble all you have, you employ all you assemble. You start where you are, with what you have.

6.    It is not the total income that counts, it’s the total savings that counts. This is the portion that ultimately belongs to you.

7.      You must never waste your merger love, money, passion and time on any unprofitable venture.

8.    Forever living is forever learning. You must never stop learning for as long as you live. You must read posts that promise what you want. A man who cannot read, and a man who will not read, are precisely the same.

9.    There are two pillars to the frame of prosperity: A-industry and B-frugality.

10.  Never take advice about money from him that is not wealthy, or honest, or from him who does not have the proof of long-standing obedience to the principles of wealth.

11. The best Investment for your money is using it to fund the same industry where it has its origin. The worst Investment for your money is the industry you know very little, or nothing about.

12. The best Insurance you can grant every member of your family is called earning ability.

13. You must remember that health is wealth, but wealth Is not health. You must not ruin your health of wealth or you would be compelled to squander the entire wealth in search of health.

14. You must acknowledge and remember the contributions of God and people in all achievements, and all disbursements.

15. A company that has no sinking fund will sooner than later sink. A company that cannot save is not safe.

16. Billionaires do not think of how much they make in terms of income, they think of their net worth instead.

17. Think big and do not let anything stop you. Learn to think big and set no limit to your potential.

18. The key to prosperity is savings. Keeping money so it would accumulate and then investing it in what will multiply it and bring even further returns.

19. Billionaires bless what they want. They pray for people who have more money than them.

20.  If you want success tomorrow, write down what you want to do tomorrow today. To-do list is by far one of the most amazing concepts in goal attainment and personal development.

21.  Billionaires have learnt the power of focus. They usually start with one business and then develop it for ten years.

22.   Set goals, convert them into a written form called an affirmation, write your affirmations every morning and read them out loud to yourself for them to become auto-suggestions

23.  Practise SAVERS in the morning. It is a phenomenon work of Hal Elrod of The Miracle Morning, where S is for Silence, A is Affirmation; V is visualisation, E for exercise and R is reading. And recommended time to sleep is 9 pm-10 pm and the time to wake up is 4 am-5 am.

24. Comprehensive goals grant accelerated results.

25. Talk only about what you want and never about what you don’t want.

26. You get more of what you think about. Whatever you think about expands. Think plenty, and abundance, never think scarcity.

27. Strive for excellence in a few things rather than good performance in many. Specialize in a small niche.

28.   Work with the best, learn from the best.

29.   Detachment from the outcome of a negotiation is the key to a successful negotiation.

30. The man and his business are two separate entities. For all practical purposes, they should remain so. Practice detachment from the business.

31. The higher you go in wealth creation, the less physical work you have to do.

32.  Delegation begins by hiring honest, credible and resourceful people.

33. Hire slowly, and if need be, de-hire quickly

34. You must choose to be an extraordinary person and plan well, to live well in old age. You must work your plan.

35.  Every day, in every way, I am getting better and better.

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 Dayo Adetiloye (B.Agric, MBA)-

 AUTHOR - CONSULTANT - SPEAKER - ENTREPRENEUR - BUSINESS ANGEL

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