Personal resources and finance management.

 

 

 Management is an activity everyone of us regardless of age,gender or level of education must do to differing degrees.We are born to be managers.You manage your time,your money, your business, your relationships...indeed there is almost no aspect of life that doesn't involve management.A common mistake is to relate management only to matters involving money,and forget you are supposed to manage even your religious life.This erroneous view of management is responsible for millions of people failing to be good managers,it's narrow minded and dangerous to only think of management in terms of money or issues related to your economic well being only.This article hopes to get you broad minded on management as the all inclusive activity it is touching on nearly all aspects of your daily life.

I am a business man,an author and a CPA,and my life revolves around management.Indeed management advisory is one of the services i offer at my firm Joseph Mambo and Associates.The first thing to know about management is that you always have something to manage!Before you think of money,one of the resources you need to manage effectively is time.Poor time management can in-fact make any efforts at money management no matter how noble null and void,because time is the essential resource.You need time to build relationships,to pursue your ambitions,to run your business, to work,even for your relationship with God.And the way to manage time is to prioritize your goals,which means you must first set the goals and in a smart way decide which ones to achieve first.You need to be able to ask yourself questions like between spending time with a friend or reading a book or watching the new block buster what do I do?What is more important?Because unless you can rank activities on the basis of their importance to you then you can't prioritize,and if you can't prioritize then you can't manage time effectively.

In business,a good understanding of your current position,which I call situational awareness,and a clear picture of where you want to take the business is necessary for you to manage it well.You can't,for instance,make decisions related to your business finances if you don't know the financial position,or plan on expanding your market reach if you don't know your capacity.That's why to manage a business well,you need a team,which does not necessarily have to be in-house.People you consult on issues affecting your business are your team,even when you are a one person business!Better still is to have that team made up of experts,people who are good at what you are not good at.For instance I am good with finances,but not marketing,so in my merchandising business,I made sure to include a marketer from the word go,and his advise has helped propel the business to success.

You also need to know yourself well,a realistic self assessment.I have never liked the idea of a day job,so business comes natural to me,but the opposite is true for some of my friends,and may be you.When yo have a good assessment of yourself,you can manage the way you earn your livelihood,and avoid the frustration of struggling through unrewarding economic activities,frustration which ruins your life entirely.You become an inefficient manager which leads to waste,and waste has never been a ticket to well being.

Lastly,you need to embrace the concept of policies for all your interests.I am good at organizing,but I also like retaining control in any engagement I venture into,in business that is,and recognize that I value the control more than my organizational prowess.So my policy is control above organizing. A second policy I have for business is success in every venture,which leads to my studying every new venture thoroughly before I get involved.Last but not least a third policy I have in business is maximum engagement,which sees me get acquainted with every part of my business process from production to distribution to marketing.For socializing,I have a policy in regard to conflicts of avoidance,not appeasement,which has greatly assisted my social management.We are created fearfully and wonderfully,and when you have policies for your interests,you find yourself moving in a purposeful direction  automatically. For personal finance I have a policy of thrift not waste,which has seen me practice impressive financial prudence.Policies lead to purposeful management,and without a purpose,living becomes vanity,which is the reason for so many poor managers across all generations!

Now I hope you at least have a different perspective to management ,go ahead and practice being a good manager and the results will surprise you

Author:Lion Mambo.