How do we address the wealth gap? A few years ago I wrote an article entitled, 35 Wealth Secrets from Black Millionaires and Billionaires, and that got me to thinking about wealth. For so many years, I was focused on my craft: speaking, writing books and poetry, or taking care of my six kids. So I made money, but did not accrue wealth. Wealth means that you do not have to lower your lifestyle if you choose to or have to stop working. Sadly, I had not been taught the art of building wealth, and yes, it is an art. One has to study those who know how to build wealth and to learn to do what the wealthy do.
A leadership principle that I have been teaching called Appreciative Inquiry strikes me as a better way to address this problem of financial inequality. Traditional problem solving models would have us focus on “what the 14 million are doing wrong“. But appreciative inquiry would lead us to instead focus on the 35,000 black millionaires in America who figured out how to achieve wealth despite their challenges. The only benefit from focusing on the poor is to become more knowledgeable about how poverty works. Instead focus on wealth, become rich yourself, and teach the poor to do the same. Charity, helps them once, teaching the poor about wealth empowers whole families and generations to come.
I’ve learned that what I think about multiplies in my life, so instead of studying the poor, I’ve chosen to focus on the 35,000 who got it right and to learn to do more of what they did. Dennis Kimbro has made that easy for me because he interviewed over one thousand millionaires over a seven-year period and reported their success strategies in his book, The Wealth Choice: Success Secrets of Black Millionaires. His seven Laws of Wealth are:
- Wealth begins in the mind and ends in the purse.
- Decide that you will not be poor.
- Believe in yourself when no one else will.
- To thine own self be true. Find your unique gifts.
- How may I serve thee?
- Own your own business.
- Make your money grow.
Warren Buffet advises us to have multiple income streams. Speaking, authorship, and training are my staples. Additionally Talkfusion is allowing me to benefit from a disruptive technology poised to be the next billion dollar brand. Inbox me for more information or to bring me in to speak to your group, train your employees, or to learn more about Talkfusion. If your life would be different if you had been able to be part of the beginning of Google, Facebook, and Microsoft, then email me. I’ll direct you to an on-line presentation that explains it all.
To your wealth