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Date : July, 01 , 2009 Publication : The WITS Business School Journal Page Number: 26-28

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Date : July, 01 , 2009 Publication : The WITS Business School Journal Page Number: 26-28

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Date : July, 01 , 2009 Publication : The WITS Business School Journal Page Number: 26-28

Make the economic blessing

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By Krost Maunder Ru Peta Ppta KrnQt Maimripr

HE WORLD IS not experiencing an international economic crisis; it is an "economic blessing", says international human behavioural specialist and educator, Dr John Demartini. "What's more, it is totally natural and inevitable in the bigger scheme of things," he says. "This situation is forcing people to get back to basics, and to prioritise and start saving," explains this author of over 40 books on improving one's life and career. "That's all brilliant, not a crisis. It is also birthing a whole new base of incredible entrepreneurs who were retrenched."

Demartini - who was told as a young boy with dyslexia and a speech impediment that he would never read or write - has built an international empire inspiring people to live their best life. People are calling him an optimist but, he says, everything he tells people is "based on science". He has spent his life learning the disciplines of economics, mathematics, science and theology and distilling the data gathered into information that relates to human nature, and using it to teach people how to improve their lives. Demartini says that during the "up times", people called him a pessimist, because he "told them to save their money and not take too many

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risks", but people had money and felt safe so they took the risks. He says that the monopolies whose management believed they were invincible in those up times are now falling apart, and those people who are being retrenched will become the next generation of entrepreneurs who will be innovative and energetic. "You will find that most of those people weren't crazy about their jobs, but now they will be able to start creating businesses doing what they truly want to be doing. "The monopolies inevitably got complacent, greedy, didn't pay enough attention and were not saving enough money, and so they couldn't survive. But you have to have death to bring about new life, so societies need to have companies closing to bring about new and improved ones." Demartini's philosophy is based on everyone having values and priorities in a hierarchical order. "Whatever is your top priority, you will be disciplined about, focused and inspired to do," he says. "Whatever is at the bottom end of the list will cause you to procrastinate, hesitate, be disorganised, and you will need outside motivation to make happen." He used the analogy of a child, video games and homework. The child never needs to be motivated to play video games; he will excel at it and spend all his time at it. However, he will

You have to have death to bring about new life, so societies need to have companies closing to bring about new and improved ones.


Date : July, 01 , 2009 Publication : The WITS Business School Journal Page Number: 26-28

Take the emotion out of saving and rather put a strategy in place. procrastinate over his homework, have to be motivated by his parents to do it and be totally disorganised about making it happen. "Essentially, if it is something that you value, it is easy to walk the talk - but if it is low on your values, you will limp it, if you even do anything about it," he explains. So where money is on a person or company's priority list determines how it fits into his or her life, or that of the company. If a fancy office with the most modern equipment at the best address is the most important thing on your list and saving money is only number 30, money is not your priority, Demartini explains. Money won't be saved, because it will be spent in buckets to get the image going. If making money is at the top of the list, then it will be something that is saved, studied and accumulated. "It doesn't matter how much money you have, but that you manage it properly," he says. He spoke of a doctor who earned $6.9 million a year, who had to borrow money to pay his taxes. The top of his values list were all the fancy accoutrements he wanted, not making money. His assistant, who earned a few thousand a month, Demartini says, managed to save 20% of her income. "She was closer to financial independence than he was. To make money, it needs to be in the top five of your priorities. "People who value money have it working for them," Demartini continues. "When you manage it wisely, you get more money to manage. Also, if you have enough money saved, you feel safer and can handpick your clients and turn away the ones you do not want to work with. This way, the quality of your clients improves." Also, the more money you have, the more you attract and the more people of the same financial milieu are attracted to you. "Millionaires hang out with millionaires, and so it goes. So, if you have millions saved, your network with be wealthier and so your opportunities to make money will be better." He explains that the best way to save money is to do it electronically, through a debit order. "If you decide rather to wait to see if there is extra money left over at the end of the month

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to put into savings, there won't be. It will be consumed by unexpected low-priority things. Take the emotion out of saving, and rather put a strategy in place." A person or company should start saving by putting away what they know they can put away and, every three months, just as it starts to get comfortable, increase that amount. "There is zero risk in saving - you can't afford not to do it. The worst that can happen is if you can't pay your bills, you can take the money from your savings to pay them." Rather than saving a huge percentage from the start, save between one and 10%. "More than 10% gets uncomfortable, so don't exceed

that," he says. "But then keep increasing that." Every quarter, the entrepreneur should also prioritise his or her job description, and delegate to someone who can produce more than they cost. That way, the entrepreneur can focus on the more valuable things, and increase their efficiency and do the things that inspire them. $>

There is zero risk in saving you can't afford not to do it.


Dr Demartini featured article in Wits Business School Magazine 1 July 2009