Introduction
In a powerful session at the Greater Works Conference 2024, Pastor Matthew Ashimolowo delivered an insightful message on wealth creation strategies for employees and career professionals.
As the founder and senior pastor of Kingsway International Christian Centre (KICC) in London, Ashimolowo is known for combining the roles of pastor, teacher, and businessman in his years of Christian service. His teachings on financial prosperity and wealth creation have impacted many lives globally.
At Greater Works 2024, Ashimolowo shared 17 key strategies for employees to create wealth and achieve financial success. Let’s explore these wealth-building principles in detail:
1. Start Early
Ashimolowo emphasized the importance of beginning wealth creation efforts as soon as possible. He advised: “Your life starts when you start. And so you need to start early, recognise that salaries are in scales.”
He encouraged young professionals to take advantage of their first 15 years in service, especially if they have a young family or are single. This period is crucial for laying the foundation for future financial success.
2. Total Commitment to Wealth Creation
The pastor stressed the need for a complete dedication to wealth creation. He stated, “You need to be productive, not just active. In today’s world, today’s world is performance based.”
This involves going above and beyond in one’s career, including working overtime and weekends when necessary to stand out and create opportunities for advancement.
3. Be Well Qualified
In the competitive job market, qualifications matter significantly. Ashimolowo advised: “Don’t leave with a half-baked degree, since you’ve chosen career and not business. Therefore, be well qualified.”
Continuous learning and acquiring relevant certifications can make an employee more valuable and sought after in their field.
4. Choose a Lucrative Field
Selecting a career path with high earning potential is crucial. Ashimolowo challenged the common advice to “follow your passion,” stating instead: “Don’t follow passion. Look what it’s all like.” He encouraged choosing fields that solve problems and have high demand in the market.
5. Play the Money Game
Understanding how money works is essential for wealth creation. Ashimolowo explained: “When you play the money game, it means that you get a prize that is bigger than what you are having now.” This involves seeking opportunities for higher compensation and better benefits within one’s career.
6. Create a Written Financial Plan
A clear financial plan is crucial for wealth building. Ashimolowo advised: “You should create a clear and concise written financial plan which includes this amount must go for investment. That amount must go for insurance.” This plan should cover budgeting, tax planning, estate planning, and asset protection.
7. Build Strategic Networks
Networking is a powerful tool for career advancement and wealth creation. Ashimolowo emphasized the importance of connecting with “gatekeepers, influencers, power brokers, and voices in your industry.” These relationships can open doors to new opportunities and provide valuable insights.
8. Grasp the Business of Your Career
Understanding the business aspects of one’s profession is crucial. Ashimolowo stated: “Don’t see law as law. Don’t be a professional lawyer. Be a lawyer and a business lawyer or else you will not create wealth.” This mindset shift from being just a professional to being a business-minded professional can lead to greater financial success.
9. Save, Save, Save
The importance of saving cannot be overstated. Ashimolowo advised: “If you don’t save, you are not safe. What you save today will save you tomorrow.” He recommended saving at least 10-20% of one’s income regularly.
10. Become an Investor
Moving beyond saving to investing is crucial for wealth creation. Ashimolowo encouraged exploring various investment options, including the stock market, government bonds, and real estate. He advised: “Invest in asset acquisition and cash flow producing vehicles.”
11. Learn to Explore Entrepreneurship
Even as an employee, exploring entrepreneurial opportunities can be beneficial. Ashimolowo suggested starting small businesses on the side to create additional income streams.
12. Invest in What You Understand
Ashimolowo cautioned against investing in unfamiliar territories. He advised: “Don’t join people in what you don’t understand.”[1] It’s important to educate oneself about investment opportunities before committing funds.
13. Engage Multiple Streams of Income
Diversifying income sources is a key strategy for wealth creation. Ashimolowo clarified: “Multiple jobs do not translate to wealth. They translate to multiple struggles.”[1] Instead, he advocated for creating income streams that can be automated or scaled.
14. Be a Global Player
Thinking beyond local boundaries can open up more opportunities. Ashimolowo encouraged: “See beyond Ghana. The world is now a global village. Have a global vision, a global mission.” This includes considering international job opportunities and investments.
15. The God Factor
Ashimolowo emphasized the importance of maintaining a strong relationship with God throughout the wealth creation journey. He believes that this connection can provide guidance and open doors to opportunities.
16. Have an Abundance Mindset
Cultivating a positive, abundance-focused mindset is crucial for wealth creation. Ashimolowo encouraged believers to have faith in God’s ability to prosper them and to believe in their own potential to make a difference in the world.
17. Negotiate Your Worth
Ashimolowo stressed the importance of negotiating compensation packages, especially for senior staff. This includes not just salary, but also commissions, bonuses, paid vacations, company shares, and other benefits.
Conclusion
In conclusion, Pastor Matthew Ashimolowo’s teachings at Greater Works 2024 provided a comprehensive roadmap for employees seeking to create wealth.
By combining practical financial strategies with spiritual principles, he offered a holistic approach to prosperity. These 17 strategies cover various aspects of personal finance, career development, and mindset shifts necessary for financial success.
Ashimolowo’s message resonates with the growing trend of side hustles and multiple income streams. As reported by Bankrate, 45% of working Americans have a side hustle, spending an average of 12 hours per week on these additional income sources.
This aligns with Ashimolowo’s advice to engage in multiple streams of income and explore entrepreneurial opportunities alongside full-time employment.
Ultimately, Ashimolowo’s teachings at Greater Works 2024 serve as a call to action for employees to take charge of their financial futures. By implementing these strategies, individuals can work towards achieving financial independence and creating lasting wealth, all while maintaining their full-time careers.
Discover more from Living Our Bible
Subscribe to get the latest posts sent to your email.
