Virtue Series 5: FRUGALITY IN LEADERSHIP



After 6months Mr. Peterson always changes the company cars. He thinks making a profit of over $6million after tax deductions in 6months, and having a stable business finance, is big enough to buy every other thing he needs and live a bit more flamboyant. Funny enough, he sells this car to some companies that uses it for a minimum of 1year and six months without having any need for a change. They save some cash by buying it cheaper, and using it longer. Who is wiser?

It’s fun when business grows great enough that you experience a constant boom that enhances your financial stability. But, where lies the wisdom in spending the profits on trivial things forgetting there is such a thing as economic depression?

Lack of frugality in business financial management has made many start-ups to plummet and eventually get into extinction. There is always a new tech-gadget and a new equipment in the market. But do you really NEED it? There are new and more sophisticated techniques of getting simple things done. The inventors brought this into the space because they need to make more money from their creativity (Which is very good), but friend, do you NEED the change? There are many new business investment opportunities with juicy promises as outcomes. Your next door neighbor has signed in, your community king has endorsed it, it cost some more money though! It has great risk involved, there are mixed feelings about it, but you have some spare cash to try something new. Hey!! Is the risk worth it? Do you need to?

As a leader you must understand the difference between NEED and WANT. You must know when a want should be satisfied and when it should be starved. You should know that frugality makes you spend not only your money wisely, but also your time and resources. The call to frugality in leadership is not just about being frugal in financial expenditure. It expands to being frugal with your time. Spend your time on what will profit you. Avoid frivolities. Create time for fun too. It includes being frugal in your allocation and utilization of resources. It’s not easy to come across most of the resources you use as a leader. Let its use bring utility.

Frugality makes you wiser in finance, knowledge and experience. It is not a sign of poverty, rather it is a sign of good financial management. A frugal leader hardly suffers grievous financial setback. He always has sufficient back-up for the rainy day. Discipline your appetite and your enthusiasm for more. Pay attention to your wants when they become NEEDs, that is Wisdom! Remember Benjamin Franklin’s word’s “Make no expense but to do good to others or yourself. Waste nothing!”

Comments

Post a Comment

Popular posts from this blog

THE BRAIN: POWERFUL DETERMINANT FOR ACTIVATION OF POTENTIALS

Image
The brain is the number one evidence and epitome of gabbage in gabbage out. I have heard some people say "Oh if I read this for a long time, my brain will explode. Lol, sweetheart that is super untrue.  Research has it that, only 2% of the human brain has been used 98% remains mostly  unused, so there ain't an explosion that comes from maximizing the brains capacity. Our brain weighs 1.4 kilogram and suprisingly has 14 billion nerve cells, so it has the ability to contain large stock of information, larger that has ever been stuffed into anyone's brain.  A great research was made by some neurosurgeons in their bid to understand the capacity of the human brain. This research was carried out with two categories of brains which were : The brain of a freshly dead professor and that of an illiterate who left his brain dormant. It took pretty time to do this great comparism and GUESS WHAT!!!🤩🤭😌😁😁😁 There  was no difference between the brains when compared...
Read more

BURST THAT COCOON ( BTC )

Image
D BROKEN SILENCE!!!! Some 8years ago , I feared standing up in the midst of a crowd not to talk of speaking to them. The irony about the issue was that i always had a succinct idea that i believed was needful to place this aright, but i always squabble in fear and let my mouths get sealed up. She got into trouble because i found it difficult to say a word and prove her guiltless. I got bullied a couple of times because my silence made them feel I was configured to be maltreated. I missed bonus marks in the class, not because I didn't know the answer to the "seemingly tough question" but because i just kept silence about my knowledge , feeling so timid to say my mind. Amidst this years people kept on telling me, don't worry its just the best way to be - SILENT, I felt worst when I noticed in my small veil- covered mind that even those who spoke made no difference. I never knew that a word fitly spoken can turn tides even if not immediately . The whole scene kept ...
Read more

9/11 Memorabilia damaged by fire!

http://edition.cnn.com/2014/10/03/us/pennsylvania-flight-93-memorial-fire/index.html?hpt=hp_t3  -- A fire erupted Friday at the headquarters of the Shanksville, Pennsylvania, memorial to United Airlines Flight 93, which crashed on September 11, 2001, officials said. "There is a potential for 9/11 memorabilia loss due to a fire," according to a statement from the National Park Service, but the extent of the damage is not known yet. NPS spokesman Mike Litterst said 10% of the archives and museum collection was stored in the damaged buildings, but much of it was kept in a fireproof safe. Among the items in the damaged buildings was a U.S. flag that flew over the U.S. Capitol on the day of the terrorist attack. The flag was given to the Flight 93 National Memorial last September 11. Its status was not known. Four buildings were damaged, the park service said. Heavy rain helped the firefighting efforts. Seven fire companies responded to the blaze, which starte...
Read more