How to Build Your Capital
How to Build Your Capital
Roger Hamilton is passionate about helping entrepreneurs recognize their dreams.
He’s the creator of GeniusU, an educational platform for entrepreneurs. His most recent venture is Entrepreneur Resorts Ltd., a growing group of resorts and beach clubs that cater to the needs of entrepreneurs looking to network, collaborate and learn from one another.
That high level of passion is one of the reasons I was so excited to interview Roger for Money Revealed. He shared a way of looking at wealth with me that encompasses more than just the state of your bank account.
After all, money is just one part of success. Money can come and go…
But if you’re building capital in all three of the following areas, you’ll have much more to fall back on than just your financial assets.
Let’s get started…
#1. Financial Capital
Yes, I know I just said that money isn’t everything… but it’s certainly a big part of the picture.
Roger’s advice on building your finances begins with getting control of your cash flow. No matter how much you make, you need to be aware of where it’s all going. Every dollar needs to have a direction.
Before you do anything else, reorganize your bank account so that every month funds are going into savings, everyday living expenses, investments and recurring bills.
Getting control of your finances helps you spend less and frees you from worrying.
#2. Social Capital
Jim Rohn says, “You are the average of the five people you spend the most time with.”
The people you spend time with greatly influence your attitude, behaviors and outlook. Surround yourself with people whose life goals, values and standards align with yours. By supporting one another, you’ll grow in the direction you want to go.
Social capital is important because friends and colleagues help you network, stand by you during hard times and support you as you pursue your dreams. A strong social network is invaluable to not just your business but your health and happiness.
#3. Intellectual Capital
Intellectual capital is the knowledge you’ve accumulated… whether it’s been gained through experience or education.
Do you have a degree? Have you worked in your field for years? Taken vocational training courses? Learned some valuable lessons through the school of hard knocks?
That’s intellectual capital.
Intellectual capital continues to build over your lifetime. It’s vital to keep learning because if you’re not learning, you’re not growing. Investing in your intellectual growth is an important way to stay on top of the game.
The Best Insurance Policy
Losing your business, your bank account or your stock portfolio is never a desirable thing. But if you’ve got strong social and intellectual capital, you can always start over. No one can take away your true relationships, training and life experiences… they will always be there for you to build on.
Stability in all three of these important areas gives you flexibility and protection… it’s the best insurance policy you can have!
Dr. Patrick Gentempo