Contents

What the rich teach their children that the poor don’t.........................................................................2
Understanding how money works.....................................................................................................2
The difference between an asset and a liability (Financial Literacy)..................................................2
Minding your own business...............................................................................................................2
The history of taxes and the power of corporations..........................................................................2
The rich invent money.......................................................................................................................3
Working to learn not working for money..........................................................................................3
Stop expecting immediate results and avoid magical thinking..........................................................3
How to create daily habits that on the long run give them incredible advantages...........................3
Money is a tool and it’s a good thing.................................................................................................3
Increase income instead of lowering expenses.................................................................................3
The success story of Skyward Consult and Allied Works Limited...........................................................4
Challenges facing the company.........................................................................................................4
Breath and depth of expertise.......................................................................................................4
Small and remote authorities........................................................................................................4
Continuity of work.........................................................................................................................4
Procurement issues/ economies of scale.......................................................................................4
Contractual and administrative issues...........................................................................................5
Payment issues..............................................................................................................................5
Opportunities in the industry............................................................................................................5

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What the rich teach their children that the poor don’t.
Understanding how money works.
The poor and the middle-class work for money. The rich don’t work for money but have
money work for them. While the poor remain financially illiterate, rich parents usually make
it a priority to discuss about the value and importance of money in their household as soon as
possible. This familiarizes kids from a young age with the concept of value in exchange for
services provided. They’re introduced to household expenses and put in real life situations
where they figure out pretty quickly that money is a lot harder to earn that it seems. On the
other end of the spectrum, the poor never talk about money at home, it’s usually a secret how
much money the parents earn or how much money is spent. The only time the kids hear about
money is when the parents are arguing about not having enough, thus associating the entire
concept with a negative feeling. The rich teach their children to learn how money works so
that it could make it work for them while the poor teach their children to study hard, get good
grades so that they can find a safe, secure job with a big company with excellent benefits.
The rich also encourages their children to be truthful about their emotion in their favor and
not against themselves. Master the power of money not being afraid of it by using their
emotions to think and not think with their emotions as the poor does.
The difference between an asset and a liability (Financial Literacy).
The poor never know what is a good purchase and a bad purchase. After poor people earn
money, they go ahead and spend it all since they never realize what counts as either an asset
or a liability. The rich on the other hand focus all their time and money on acquiring more
assets; buying an apartment that generates rent. An asset is something that puts money in
one’s pocket while a liability is something that takes money out of one’s pocket.
Minding your own business.
The rich encourages their children to first pay off their debts and start investing in income
generating assets as soon as possible. Then how to stay financially healthy by spending their
time (instead of their paycheck) and investing as much of their money as possible in assets.
Most people confuse their profession with their business; they spend their entire lives
working in somebody else’s business and making other people rich. Majority of the poor and
middle-class are primarily fiscally conservative because they have no financial foundation.
They have to cling to their jobs and play it safe. They can’t afford to take risks.
The history of taxes and the power of corporations.
The rich understands the power of company structures and the tax code and use every legal
means they can to minimize their tax burden. Business owners with a corporate structure
earn, spend and pay taxes in that order while employees who work for corporations earn pay
taxes then spend. Its noticeable that employees who work for somebody else spend their
money post-tax while business owners earn and spend before paying tax. The rich
understands the financial IQ; Accounting, Investment Strategy, Market Law and Law.
Understanding the legal and tax advantages significantly contribute to building long term
wealth: For example, a corporation can pay expenses before paying taxes, whereas an

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employee gets taxed first and must try to pay expenses on what is left. Corporations also offer
legal protections from lawsuits. When someone sues a wealthy individual, they are often met
with layers of legal protection and often find that the wealthy person actually owns nothing.
They control everything but own thing.
The rich invent money.
The rich finds opportunities or deals that other people don’t have the skill, knowledge,
resources, or contacts for. They identify opportunities that other people have not found, then
raise funds for investment and finally work with other intelligent people. There are two types
of investors:
1. Investment packages are bought by people who entrust their money to a developer or
fund manager. This is the way that most people invest, such as buying shares of an
ETF or putting money into a real estate crowdfunding venture.
2. Professional investors look after their own investments, research the market to find
deals that make sense, then hire professionals to manage the daily oversight.
Working to learn not working for money.
The poor dad was intelligent and well educated and worked for money because job security
meant everything to him. Rich dad became a millionaire by working to learn. The rich
recommend their children to seek work for what they will earn; look down the road at what
skills they want to acquire before choosing a specific profession and before getting trapped in
the Rat Race. They also give an insight on the synergy of management skills needed for
success in business: cash flow management, system management and people management.
Stop expecting immediate results and avoid magical thinking.
Poor people expect to get rich quick. To win a large sum of money or inherit property. They
have this weird expectation that their lives will somehow magically become better. Rich
parents make it a priority to teach their kids to play the long game. Long term thinking being
one of the differentiating characteristics of the rich.
How to create daily habits that on the long run give them incredible advantages.
The rich use the power of habit to get ahead of life while the poor nurture toxic habits which
leads to their lives in ruin. The power of habit is a tool, it magnifies what you feed it. The rich
simply choose wealth creation actions as their daily habits while the poor pick negative
routines.
Money is a tool and it’s a good thing.
Poor people blame their misfortunes on the lack of money in their lives and attribute an
element of negativity to the concept of money. This is because even when they get money it
leads to more and more problems which they don’t know how to tackle. The rich do the exact
opposite. They understand that money is merely a tool which you use to navigate life.
Increase income instead of lowering expenses.
Poor people are always focused on lowering expenses as much as possible; to the point that
life isn’t almost worth living. Instead, the wealthy put all their attention to increasing the
amount of money flowing in since if one radically increase your income there’s always going
to be large amount of cash left at the end of the month. Poor people teach their kids to lower
their expenses while the rich focus on increasing their income.

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The success story of Skyward Consult and Allied Works Limited.
“Skyward consult and allied works was created from an idea whose conception dates back to
campus life in 2013, with an objective of improving not only my life but the life of several
other people in my nation through realization of the vision 2030 of affordable housing.
Starting from scratches it required a lot of financial, physical and mental input; the latter of
which was scarce leading to seeking of financial support in form of loans, grants and
monetary contributions. I cannot ignore the constant encouragement and emotional support I
received from friends and family. It is because of their emotional support that I’m sharing this
success story because I never gave up.
As the saying goes; ‘’unity is strength’’ it took the effort of I, the bearer of the idea and other
supportive and equally determined friends and family to implement the idea and put it into
practice. We have so far employed four other people who are professionals in other relevant
fields into the construction company. The professionals include surveyor, quantity surveyor,
an architect and accountant.
This diversity has led to permanent employment of those professionals accomplishing one of
our major objectives of improving humanity through employment. It has also helped in
expanding the company, another milestone for Skyward consults and Allied works.
Since the birth of this company we have indulged in several project categories including
residential houses, commercial houses, road projects and water projects. Determination,
optimism, persistence and team work has led to the advancement of the company over years.
It has gloomed over time to an admirable company focused on development and humanity
but sky is our stepping stone; WE STILL AIM HIGHER.” ODOYO GERALD BRIAN CEO
Skyward Consult and Allied Works Limited.
Challenges facing the company.
Breath and depth of expertise.

 Employment of qualified and registered engineers is a challenge.

 Small companies are specialized- lose out on multidisciplinary projects.
 High staff turnover.
Small and remote authorities
 Few opportunities are being offered by smaller constituencies and markets.
 Usually present in one or less authorities.
 Start-up course in another region maybe high.
Continuity of work
 All firms need continuity of work to survive.
 Private sector is moving towards shorter term contracts.
 Price driven markets make it difficult for smaller firms to survive.

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Procurement issues/ economies of scale
 Smaller firms have weaker buying power.

Contractual and administrative issues

 Smaller firms do not have contractual expertise and are often strong armed by clients.
 Smaller firms sometimes do not have the ability to submit acceptable tenders.
 Insurance burden that is too large in some instances.
Payment issues
 Lengthy payment terms.
 Dishonoured and late payments.

Opportunities in the industry

 Project management and supervision.
 Architectural, structural design and analysis.
 Design of roads and their construction.
 Approval of plans and designs.
 Material analysis and approvals.
 Supply of construction materials.