Skills That Produce Wealth

By Lucell Larawan

If many people say that the lack of money is the problem, Dan Lok—one of Canada’s leading entrepreneurs—begs to disagree. The lack of money is not a symptom, according to him. The real problem is the lack of skills. What are the skills that can make you rich? Lok shares some of them based on experience.

First is the ability to talk persuasively or closing skills. This refers to the final step in selling a product or an idea which uses questioning and active listening to help customers articulate their needs. You do not have to be a sales agent to make this a necessity. As you constantly get in touch with co-employees, managers, customers, subordinates and stakeholders, you need to ask powerful questions that compel them to buy your idea. Make them listen.

Moreover, you cannot underestimate the value of public speaking, another important competence. Speaking before an audience is like being alone at Elm Street for many. They do not want to appear nervous on stage. But many great leaders like Steve Jobs is an exemplar of this ability—the element that connects and attracts. Lok suggests that you join the Toastmaster’s Club to improve your articulation before listeners.

If you already have oral adroitness, you also need to learn persuasion in print or copywriting skills. This is not about good grammar; it is more. It also differs from academic writing. As I searched the internet, it is understood as “the process of writing advertising promotional materials. Copywriters are responsible for the text on brochures, billboards, websites, emails, advertisements, catalogs, and more (American Writers and Artists Institute).” Possessing this skill that can be used in communicating products or ideas in several online platforms like email, blog and video, can give you leverage. This is the first skill that Lok used when he began the entrepreneurial journey.

Next realize that business is a team sport. As such, you need deftness in leadership . How can you persuade co-employees or subordinates to follow you? Perhaps, you should first have a good vision. You need to show exemplary characteristics and, maybe stints, which make people believe in you.

Also, you cannot be successful if you do not know how to read financial statements—the financial literacy skill. If you ask why we need this, go back to the premise that you cannot improve what you cannot measure. So we need to learn about balance sheets, income statements, cash flow and related concepts.

You cannot manage time but you can manage priorities—another important ability. Priority management is self-management. Every night, write the things you need to accomplish the next day. If time cannot accommodate all of them, you need to make a list of “must do”, “should do” and “nice to do”. Then make goals. Not all activities are meant to be swallowed hook, line and sinker. If you learn this, you can move closer to your aims.

You likewise need the mindset proficiency. It means the ability to manage your emotions. If you have problems about your temper, you cannot make it explode at the office or work area. You should have self-control and put everything in check. Never have regrets from tantrums. Along with controlling emotions is not allowing negative thinking in your system. Bryan Tracy, a motivational speaker, taught about speaking positive affirmations to yourself daily, like “I am an achiever,” or “I have what it takes to finish this”.