One of the main reasons people work hard every day is to achieve financial freedom. But achieving financial freedom requires not just working hard, but working smart through financial education. That is why we are reviewing this week, this text titled, “The New Millionaire Capsules”, with the subtitle, “How to Work Step by Step Towards Financial Freedom”. You can also read my Monday “Success Path” column to reinforce your knowledge on this.
The author of this text is Reuters Award winner Ayo Arowolo, who has been involved in financial education for more than 20 years as a financial and investigative journalist. Arowolo has worked for major Nigerian newspapers including the Concord Group, The Guardian, The News and This Day, all based in Nigeria.
He is the CEO and founding publisher of the Financial Standard and founding CEO of The Investment Club Network (TICN). Arowolo is now the publisher/CEO of Moneywise, a personal finance newspaper. He speaks to audiences across the country, focusing on how people can take full charge of their personal financial affairs.
In this text, Arowolo shares with you the secrets of wealth creation and livelihood. According to him, the financial journey that catapults you from rags to riches requires some conscious effort. Arowolo teaches that this journey begins with realizing that God wants you to live a life of abundance and aligning your mindset with this reality.
To get his message across by creating concrete analytical background for conviction, Arowolo recounts how his finances took a nosedive many years ago as a result of blind investment. He says the escape route came for him when he began applying the wealth-building tips shared with him by his financial mentor.
He adds that his financial mentor also recommended different financial and motivational books and tapes, and before long, his financial situation began to improve. This practical journey experience towards financial freedom is what Arowolo shares with you in this text.
As for segmentation, this text contains 22 millionaire tips, technically baptized as “Millionaire Capsules.” Capsule one is labeled “Set Clear, Specific Money Goals.” Through his financial mentor as a spokesperson, Arowolo emphasizes that only when he sets clear and specific goals can he transform his imagination into reality. Through his conversation with this financial mentor, Arowolo asserts that wealth is not measured in monetary terms, but in how much your passive income stream can take care of your expenses.
Capsule two is based on the need to dream that your naira exists. According to Arowolo here, you have to be a millionaire on the inside to become a millionaire on the outside. Through his financial mentor, he enlightens that you can command every imaginative material possession to exist only if you have a strong desire. Arowolo asserts that to make your dream come true, you must make it a dominant passion.
In Capsules three through five, the concepts in your mind are the most important asset; unleashing your imagination and joining a business coach are x-rays. Through his interaction with the financial mentor, Arowolo emphasizes that with his mind intact, solid and constantly developing, he has what it takes to make money.
Capsule six is entitled “We are all stewards of God’s money.” Using the financial mentor as a mouthpiece, Arowolo says that no matter how rich you are, you are only a steward of God’s money and wealth, and if you are not kind to money, God will make it disappear.
Capsules seven through nine are based on the concepts of being bold to take small steps; striving to extend his talents to areas of wealth and his problem is purpose-oriented. Here, this author states that many people hope to have all the money in the world before starting their own business. Arowolo warns that while money is good, you shouldn’t let it be the main factor when choosing a career.
Capsule ten is all about sharpening your financial intelligence. Here, through the financial mentor, Arowolo emphasizes the need for you to avoid impulsive or bad spending and invest in business areas where you have expertise.
In Capsules 11 to 17, Arowolo casts his intellectual spotlight on such concepts as business with an understanding of wealth generation; preaching the message, a biblical allusion; success and failure are predictable; learn to control your spending; know the state of your financial health; avoid depending on a single source of income and involve your spouse in his money.
Capsule 18 is based on the theme of purpose and arrangement going together. Here it is stated that God has a task for every human being and he may not find it until you can locate that task and commit to accomplishing it.
In Capsules 19 to 22, Arowolo analytically x-rays the concepts of knowing the state of your health; possibility to start all over again; part ways to move forward and prepare your personal financial statements.
As far as the mode of presentation is concerned, this text is a prototype of artistic and intellectual distinction. The title is suggestive, figurative and creative. It is also pictorial in the sense that the image of the Capsules is evoked, which helps memory. The outer cover design embroidered with the image of capsules and tablets is also used for visual reinforcement of readers’ understanding of the concepts symbolized by capsules. The use of capsule symbolism also underscores the fact that the ideas discussed are easily applicable just as capsules dissolve easily in water.
In addition, the language of the text is simple. This was to be expected, given Arowolo’s professional experience as a journalist. In short, as my managing editor/CEO, he always preached (and continues to preach) the gospel of simplicity of language at the Financial Standard, an article I left as acting editor. Arowolo also uses biblical allusions, backstories, and dialogue to drive concrete conviction and lend credibility to his message. Another artistic success of this text lies in the combination of narrative techniques. Arowolo combines autobiographical and Eye of God narrative techniques, thus assuming the role of an omniscient narrator. Includes a summary at the end of each Capsule to ensure easy comprehension throughout the recap.
However, a section of the outer back cover needs to be rewritten for clarity. The section is, “There are principles behind the accumulation of wealth. It implies…” If the pronoun “That” refers to “Accumulation of wealth” (via the grammatical rule of proximity), rather than “Principles” , then, we need to put “Accumulation of wealth” in parentheses after “That” like this: “That (accumulation of wealth) implies…” Otherwise, the third person plural pronoun “They” will be used to keep the agreement (ie, anaphoric or co-referential relations) with the plural noun “Principles”.
In general, this text is a masterpiece. If you are determined to legitimately transform your financial situation from the podium of despicable financial depression to the podium of enviable financial elevation in the remaining part of 2010, then this text is highly recommended for you. It’s a treasure trove of irresistible financial knowledge.
