Good morning.

Good morning. Good morning. Welcome to day 7th the workplace power leverage
session.
This is a 31 day career accelerator for value driven professionals. Now the goal
is pretty simple.
I want to help you win at work and in life.
And the way in which I did that is by giving you 9 core power leverages that is
gonna help you achieve that for yourself, both in life and at work.
Welcome once again to day 7. And day 7, we're gonna be starting off on another
power leverage.
So far, we've been able to cover about 2 power leverage, uh, leverages, which I
believe is gonna create transformation, not only for your life, but also for you at
work.
today, we're gonna be focusing on the power leverage of money control. Yes.
The power that you have with money control.
uh, money control in simple terms is your the the power it's primarily the power
that you have to be able to leverage money to your highest values.
I repeat, the power the money power the money control power leverage is the power
that you have to be able to use your finances to according to your highest values.
Now one of the things you probably would have noticed is in terms of all the power
leverage that we've been dealing with, we've dealt with too so far.
And this is the third one. You find out that most of them actually address
different issues.
For example, the first power leverage I've addressed the issue of identity.
And what we leveraged on there was the power of your values as a way of you
creating a brand identity for yourself as a way of you distinguishing yourself at
work and in life.
And then the second power leverage that we worked on dealt dealt with your, uh,
not I would dealt with isolation which most people feel not only just in their
career, but also in life.
And what we're able to do was leverage the power of your relationships to be able
to bring a clear sense of support for yourself.
If you remember, clearly, weren't you 3 different levels of support that you need
to have And one of the things which we achieved by the end of our conversation was
help you to be able to create a support system made up of some of the people that
share some of the greatest hires, some of your common highest values that you
believe very much in.
And so really at the today, what we're going to be facing is we're gonna be facing
the challenge that people have with regards to money.
some of the money pressures. And that money pressure is addressed primarily by
using your money control.
yes, your money control is actually the power that you have to be able to control
whatever pressures that you have with regards to money.
And you see, the beauty about all these power leverages that I've given that you
have up until this particular point in time is that, look, they deal with a lot of
things that happen on your insight and primarily around you, uh, your sense of
identity, your sense of isolation, the money pressures, this is what this this
leverages help you address.
And getting this right at the beginning actually puts you in a good position for
you
to be able to deliver high productivity for you
to be able to deliver high results in the workplace. So let's step. Let's go into
today's, uh, conversation.
So I've already given you a broad definition in Sandler. what money control is.
Money control gives you the power to be able to live, uh, use your money to your,
uh, in line with your highest values.
Now there are basically 3 stages in money control.
I'm gonna share my screen because it's gonna give him give us the opportunity for
me to actually walk you a couple of
 things that I want us to talk to. So here, I
have I hope you guys can all see my screen. So now in terms of money control.
Like I said, money control has 3 stages. Good. Thank you very much.
Money control has 3 stages, and I'm gonna just
build them up here. Good.
Now the 1st stage on the money control focuses on protection, The next stage
focuses on expansion.
And the final stage for serve the focus is on posterity.
Now let me explain basically everything here.
Is this On that protection, the focus for the individual is still working on the
protection stages.
You're basically trying to make sure that you use your money in a
way that you protect the the current lifestyle that you
are living. So the focus of everything is more on your present
life. What you're trying to do is you're trying to protect whatever current
lifestyle that you're living in And the tools that
you focus on to do that is tools like budgets, like, uh, education, financial
education,
Like, uh, investments?
Now in terms of invest the core investments that people focus here are basically
low and medium risk investments.
Now there's one additional tool that people use here is the tool of insurance.
Now let me explain everything here.
So on that protection, like I said, the goal here is primarily to protect your
present life.
The current lifestyle that you are living, the goal is primarily to protect there.
And I said the tools that you use here is number 1, budgets.
So, uh, the person working in this particular living in his, uh, number 1 tries to
define the budgets that ensures that, look, he or she's not put on that pressure in
terms of how he manages his finances, how he keeps his finances, how he works his
finance work.
And one of the thing the other thing that the person tries to build on is build a
good education, a good education in terms of, oh, Uh, I'm either trying to educate
myself better in the issue of finance, or I'm trying to educate myself better in
terms of how I can be more effective and productive in the workplace.
because what you have to realize is that one of the first investments that one of
the first tools that you actually have for protection is actually your career.
It's the work that you do on a daily basis.
And so one of the things the person focuses on on the education is not only trying
to educate him or herself with regards to financial education, but also try to
educate him or herself in terms of being able to, uh, to be more productive at
work, being able to deliver more at work.
And with regards to investments, the focus of the investments for the person is
low and medium risk investments.
Why is low and medium risk investment uh, the focus of for the person because the
person is trying to protect the current lifestyle.
Uh, at this point in time, the person is not open to taking significant risk
because it feels that you're taking too much risk is going to impact on the current
lifestyle that he or she lives.
And so, for example, you find the person uh, has maybe a smaller location in time
on on his budget towards making consistent investments in, uh, particular assets
because he cannot afford to expand the scope of how he basically chooses money here
and thereabouts.
Now one other thing which is very, very important for the person is insurance.
So for example, if the person has a car, you have to take insurance.
And at this stage, also, you also find the person thinking even in terms of uh,
taking taking it thinking in terms of even life insurance.
Now a couple of people have asked, look, at what stage do I really, really need a
life insurance?
 Well, I'll tell you the simple thing. You need a life insurance.
Once you have people who depend on you for their financial sustenance. I repeat,
you need a life insurance.
Once you have people that depend on you for your for their financial sustaining.
And so for example, uh, let's say you have experience who basically rely on you on
the month or month, uh, my recommendation, consider taking a life insurance because
If anything happens to you, at least from that life insurance, you're able to pay
out something to them that at least will continue to sustain them.
If you have a family, you have kids, You have people. I mean, you have a family
you've got kids.
You need to consider life insurance because, uh, it gets that as a protection for
your family whilst you are not around.
Now another insurance you need to consider.
So for example, let's imagine you have a property, you have your own house Of
course, it goes without saying you need to consider having insurance for your
property.
The bay like I said, the basic philosophy on that protection is that, look, you
are trying to protect your present life.
The goal here is to make sure that, look, if anything happens to you, uh, within
the short term, then I'll I mean, you are not only protected in terms of you being
able to, uh, manage yourself.
You're also protected in terms of the people that look to you for every day of
what they have something which they can fall back on.
So, I mean, for example, I would when you are doing when the person is when the
person here, if you are doing your budget, you know, that is You should have things
like emergency fund because you should be able to protect yourself in the event
that something happens, uh, whilst you are not able to make ecom or someone
unforeseen emergencies come into play you're able to actually protect yourself by
having an emergency fund.
And that's what basically, uh, which the person deals with on that expand on that
protection. Now on that expansion,
the focus here changes a bit. And the focus here is more on your dream life.
And so what has happened here is this. The person on on on
the face of expansion has already been able to address all the protection needs
that he or she, uh, needs to focus on.
Now the tools quits the person works with under expansion.
He still works with exactly the same tools that you have on that protection.
The only difference here is that we now add a couple of more tools here.
Now what are the other two scoots the person focuses on in terms of investments?
His investments are now more in are now on low, medium.
and high risk. The person has a
bit more flexibility in being willing to take a bit more risk.
So he's willing to take a bit more risk in terms of, uh, the sort of investments
that the person is willing to go.
It's in situations like this that, uh, the person I decide, oh, I want to invest
in startup companies Uh, I want to be an angel investor, ETC, and things like that.
Those are a lot more risky.
And so at this expansion stage, the person has more freedom and more flexibility
to focus on, uh, to take a bit more risk.
Uh, in terms of education, in addition to all the education that he has in under
the protection phase, you're not start adding education in terms of tax
efficiencies.
So for example, in terms of uh, doing investment, the person begins to think in
terms of, oh, what are the tax investments?
Tax efficient structures that I can adopt in terms of how I want to do the
investments that I want to do.
Now one thing which I'm going to point out here is is you remember uh, on that
protection, I told you that, uh, at this stage, the person has
to think that on the insurance, one of the
 things I talked about was talked about, uh, taking life insurance. Now life
insurance is
a bit of a tricky one. Uh, let me explain what I
mean by life insurance is a bit of a tricky one.
Uh, the reason why it's a bit of a tricky tricky one here is that within the
within life insurance, they're actually they're actually 2 life insurances.
You can talk about your whole life or your term uh, insurance. Now what is a whole
life insurance?
Whole life insurance is basically the type of insurance whereby you take with the
insurance from that depending on the structure, there are some whole life insurance
whereby if you make payments over a particular period of time, at the end of that
period, you are covered for life.
for example, they may tell you that you pay particular amount for 5 years.
And after paying that amount for 5 years, you are covered for the rest of your
life.
So whatever what effectively happens is that whatever you decide on in terms of,
uh, the cover, the the cover that you are taking, uh, by the end of after that 5
years, the insurance company in the event that something happens to you, death, or
whatever it is, they're gonna pay it to your beneficiaries.
That's how your whole life works. Now on that term, term insurance is a bit
different.
Term insurance, I think the best way to to understand your term insurance is just
look at it like you're taking a an insurance for a vehicle.
But in this case, the vehicle is actually your life.
So for example, the way term insurance works is that if you don't pay, you don't
get a cover.
So you pay annually for you to get a cover.
And so I'm sure for most people, they'll be like, oh, why do I have to?
I mean, based on that, that means if I don't pay on that term insurance, I don't
get a cover.
Whereas for whole life, if I pay for a fixed a fixed period, I effectively get
covered for the rest of my life.
Well, It depends on how you want
to look at it. And if you've let's let's let's use some numbers.
So for example, let's say today you decide you want
to take your whole life insurance, your whole life insurance, and you're basically
agreeing that you want to take, uh, 20,000,000 Naira as your cover that you want to
work with.
uh, the insurance company tells you that you have to pay for 5 years.
And after 5 years, you get covered for the rest of your life.
So let's assume you leave for 20 years.
what do you think is going to be the value of that 20,000,000 in 20 years? Yes.
That's the problem with whole life because, especially in the con in if you're in
a country whereby inflation and, uh, money value begins to a root, you have a
problem with using a whole life insurance.
because by the time in which your family is going to qualify for it, you'll be
finding that that money is next to nothing and which is where term insurance more
or less plays, the better cover for you.
Because number 1, you are able to you are able to assess in terms of how you feel
the stage of life is what sort of cover that you really, really want.
And the fear of saying that if at the
end of this period, whatever it is, uh, if you don't pay, you're not covered.
Look.
if you are walk if you are working with your plan of wanting to move yourself from
protection to expansion, What I can tell you is that, look, it probably would have
minimal impact with you because by the time you get to the expansion phase,
expansion phase at that point in time, you are already
you are focusing on building assets assets that actually generates income.
And so if you do this if you do this thing very, very well on this stage, you find
yourself that, look, you're actually providing cover for yourself by the type of
investments that you're making for yourself.
And let me explain it to you.
So let's imagine you've entered the expansion stage whereby you're investing you
are doing a lot more investing.
If you do your investments, right, For example, if you have a good diversified
investment portfolio of having things like rental, real estate income, uh, you have
stocks, you have equity, be finding that it's actually possible for you when you
enter your retirement fees to actually be able to live off whatever income is
coming from rental properties.
And you just you just have to have a big perspective in terms of how you want to
go about this.
And these are some of the considerations you should have while you are trying to
develop your money plan.
everything actually focuses around your money plan in terms of how you develop
your money plan. And by the
time we get to to day 2 and day 3, We're actually going to
go into a bit of drilling, a little bit of drill for that in terms of us to
understand how we go about this.
Now why did I go into all that long story in terms of talking about insurance
because I just believe that look for especially for those of us who are here,
whereby, uh, we are currently in a career, uh, and we more or less have people that
look us in terms of how we allocate our finances, whether it is our direct family,
uh, whether it is our old, our age parents, it's I I think it's important we start
thinking along the lines of how are we going to protect, uh, the lifestyle, which
they are currently navigating the events that something happens to us.
And that's the reason
why I went into that. So let's go back
to this conversation. We've dealt with protection. We've dealt with expansion.
I've said on that expansion, In addition to everything that you already focus on
on that protection, you now start focus on, uh, expansion.
Your your investment options are now a bit more expansive You've included high
risk investments.
You are looking at you are focusing on more tax efficient, uh, opportunities.
In addition, You are now considering things like side hustles.
Yes.
You're now considering things like side hustles uh, looking at businesses that you
can start while you still remain in your active practice.
The whole idea on the expansion is that, look, you are trying to maximize your
ability to generate income outside of your daily as outside of your regular work
schedule.
Okay. And that's the whole idea of what you're trying to do under the
expansion stage. Yep. That completes everything on
the expansion state. Then we move to the next stage. Prosperity. Yes. posterity
still takes all
the learnings that you have from, uh, protection, expansion, all the tools that
you have there.
But on that posterity, At this particular point in time, you are no longer focused
on just your dream life.
You've more or less come into your dream life. And what you are focused on now is
the after life.
you're now considering, oh, what's going to happen when I'm not here?
It's at this point in time that you start getting education on things like estate
planning.
You start adding things like estate planning in terms of, uh, what's going to
happen in terms of the, uh, the assets that are built over time How is it going to
be allocated?
Uh, how is it going to, uh, benefit, uh, not only just me, but also benefit the
generations that come after me.
 It's in situations like this that you actually have people start investing, uh,
for their grandkids.
I actually had, uh, was when are work in asset management.
I actually had a we actually had a client who bought who who made investments for
her grandkids.
Didn't make investments for our kids. she actually make made investments for her
grandkids, all her grandkids, they had investments.
And we used to joke that, oh, man, it wouldn't be a great idea.
have this woman as my grandma who's already made investments for all, uh, her
grandkid, but that's what you start thinking about.
Even beyond making investments
for your grandkids, uh, you start thinking of, uh, setting up things like
foundations that are going to outlive you.
You start setting up things like charities that will be able to serve interests
that you believe very much in outside of you.
Now that is the 3 stages that you have. within the money control. But
in defining, it clear your ability to leverage your money control power.
One thing is very, very cool and very, very important.
You wanna know what it is. It is your philosophy about opportunities.
Because let me tell you, if, for example, let's say you are under the
pro you are you are you are currently on that are in the protection fees.
There is a possibility that you start having agitation in terms of, oh, this is
where I am uh, oh, how am I going to get your expansion?
How am I going to get your posterity? Or even whilst you are in protection,
you are beginning to consider, oh, uh, this is a problem. the problem. These are
pressures. These are pressure points.
The most the biggest thing that helps you to solve the pressures that you may be
facing is your your understanding of opportunities.
And what I mean by understanding of opportunities is that where in which you
believe opportunities will come to you and the way in which you believe you are
going to leverage your opportunities.
And I will tell you this, your biggest your biggest ability and the biggest power
that you have to be able to leverage opportunity is your power to ask.
I repeat. I repeat.
The biggest power that you have, the biggest ability that you have to be able to
leverage your
power.
because of this, I'm not able to leverage the power to ask.
What is going to happen here is that, look. You're going to you're going
to have a situation whereby no matter where you are on the skill, no matter where
you are in terms of what where you are on this ladder, what you're going to
have is you're going to find yourself on that extreme pressure. Now let me explain
what
I mean by your power to ask. Opportunities will always come. Opportunities will
always show up for everyone of us.
The problem for most of us is our ability to ask people for the for the app for us
to take advantage of those opportunities.
And let me explain what I mean here. So for example,
uh, there are investment opportunities that are showing up, and you're like, oh,
you believe that, oh, you might not be able to qualified to take advantage of
those investment opportunities.
The only way you would know that you don't qualify
to take those advantage of those investments opportunities If I go into the people
who are involved in it and asking them, it's pretty simple as that.
Let's imagine, uh, you would there's there's a job offer that is going on within
company.
And the job offer is going to offer you more opportunities, more, uh, pay and ETC.
And you're asking yourself, is this something that you can take advantage of?
I will tell you The only way you can know you can take advantage of it is by
asking.
Or there could be people in which you are within your circle that you believe they
would give you better access to things that you probably might need in life, things
that you might probably be able to work with.
The only way you can leverage those is by asking.
And that's why our assignments today, which are going to find that the workbook is
actually for you to ask.
And I'm going to ask. I'm not what I'm going to tell you to do is I'm gonna tell
you to do something which, uh, I would tell you actually helped me to open my self
taking advantage of opportunities that comes with ask.
And what I'm gonna tell you to use, I'm gonna tell you to ask people for money.
Yes.
I'm gonna tell you to ask people for money.
Now when this I remember the first I I I this was actually something that, uh, the
my coach that I was working with a couple of years back actually had me do.
What he told me what he
had me do was he told me that, okay.
Uh, Tola, I need you to send out a message to, uh, people within your circle and
just tell them to give you money.
And I was like, ask people to give me money. I mean, that sounds funny.
Do you know it's funny?
By the time he told me to do that, it was when I realized that I had never asked
anybody in my life for money.
for whatever, I mean, I just I'm this kind of person that I have this philosophy
that look, uh, if there's anything I need, I'm gonna find a way
of making it work for me. I'm gonna find a way making things happen, making
things. I'm gonna find a
way of using resources that I have. However, it is to make it work for me.
And I realized that because I've been doing that, I have never actually asked
people for money.
And I I had to follow what my coach told me for doing that exercise, and I
actually went ahead and asked And it's interesting.
Everybody that I asked actually gave me money. Yeah. That's true. Everybody that I
asked gave me money.
And there are a couple of things that I learned from that exercise.
Number 1, you have more power within the existing relationship that you have.
that you have than you actually know.
I repeat, you have more power within the existing relationships that that you have
than you know.
I would never have known that some of these, I mean, the people within my
relationship within my relationship, Nicole, will actually give me money just
because I asked simply because they believe in the type of person that I am.
It wasn't that I took. Um, let me tell you, I didn't ask them that
I needed the money because I wanted to do something. Do you understand?
And I'm gonna I'm gonna share with you description, which I used to ask them for
money.
I'm gonna share with you
a bit of it. The second thing which, uh, I also realized then is that by asking
people for money, it freed my mind to be able to ask people literally for anything.
And this is something that has really, really benefited me in the workplace.
So for example, let's imagine we're trying to do something uh, we're trying to get
a task, a deliverable get.
They're they're trying to get it delivered.
If I ask a particular, uh, person oh, I need this and this and the person is not
an what I'm talking about, uh, asking somebody, I'm talking about asking external
parties who are able to support us
who are able to get us what we want.
If I ask the person if I ask this particular institution or this person, if I ask
them, oh, please, we want this ETC and things like that.
 And the person says, no. My mind is already thinking. Who is the next person I'm
going to ask?
If I ask that person, it doesn't work. The next thing I must and my mind is
already thinking.
who is
the next person I should ask.
And it builds a mechanism in my mind whereby I just realized that all I needed to
do was just to be asking that I just needed to be finding people that I needed to
be asked at this point in time.
And what I tell myself is that, look, uh, I may not ask the right person the first
time.
But if I keep asking, eventually, I'm going to get to the right person.
Now the third thing I'm going to tell you that I realized was very important is
having a right way to ask.
You need to ask in such a way that people feel a sense of investments in your
success.
I repeat, you need to ask in a way that makes people feel a sense of investment in
your success.
Now let me tell you how it is that, uh, I asked based on what my coach, uh, told
me to do then.
So what I did was I composed the WhatsApp message with a bit of input for my
coach.
And what I just simply did, uh, I'm currently working on something. I'm I'm a
currently part of program.
Uh, and one of the assignments which I'll
be giving today is I've been asked to I I need to ask for money.
Uh, please I need you to give me some money. It could be any amount.
I really need to make it.
I I really need to pass. Uh, so I think I I said I think I
would I really need to succeed in this assignment that I've been given. Please
give me some money.
Can I have it? Now it was it was a bit playful, but at the same time, I made it
look like it would
be while investing in my success in this particular thing.
And literally, everybody that I sent that message to, every one of them gave it to
me, and they matter the amounts.
The important thing here is this 1, I built my ability to ask correctly from that,
uh, message number 2, It's also I I also built my ability to actually connect with
people on a deeper level by asking And that's actually going to be our assignment
for today.
Because one of the things I believe from what I've the experience I've had is
that, look, when you can ask people for money, and you can ask it anyway because
money is one of the
things that people try to keep personal to themselves. So they don't want
to give and things like that.
But if you can ask for money, in a way that people feel an obligation to give to
you, then it's likely you'll be able to ask for anything when it comes to taking
advantage of opportunities whether it's in work whether it's at the workplace or in
life.
So today's assignment is basically this. Number 1, I need you to write your money
ask scripts.
So what I want you to do is I want you to think in terms of
how you are going to compose the message. You want to ask the people.
The message you want to, uh, present to the people in terms of what you want, how
you want to ask them.
And then the next thing I need you to write out the names of people, uh, in this,
I just want you to just do it with five people, the name of the people, and just
the amount given It doesn't matter the amount.
The important thing here is you're building your muscles to
 be able to ask, uh, correctly.
You're building your muscles to be able to compose messages in a way that people
feel an obligation to invest in your success.
That's really it. doesn't matter the amount. The amount is really not what it's
concerned.
What I just want to do is I want to build your ask muscles literally. That's it.
And with that, we come to the end of today's conversation. Yeah. Thank you very
much for joining me.
This is the end of today's conversation. We've introduced your next power
leverage, which is your money control.
This deals with the pressures that you would have with money.
And if you can deal with all the pressures that we've been able to highlight, uh,
over the last, uh, 7 days.
Look. I'll tell you, you're ready bring yourself to be a well rounded person. And
you know, one of
the things one of the reason why it's very important for me to start with this
pressure point is that Work is one of the few places that we bring the whole person
into.
At work, you spend at least between give or take between 8 to uh, 10 hours are
different depending on the type of work that you do on a daily basis.
Meaning that your true self, your true person shows up at work because of the
length of time that you bring to work.
And so it's important. The type of person you bring to work should be a person
that is not pushed by pressure.
So which is one of the reasons why we started with you having the right identity.
From having the right identity, we have we went to you having the right support
system We're having the right relationships.
Now we're dealing with the money pressure. Good.
So ladies and gentlemen, I hope to see you guys again next Sorry. Next tomorrow.
Uh, please, uh, drop your comments on the Facebook group that we're on. Uh, the
Facebook group is live.
drop your comments, whatever questions you have, I will
be responding to them. Please let's engage with one another, engage with each
other.
And I look forward to seeing you guys tomorrow. Thank you very much.
I wish you guys a great day. Thank you.