Acquiring wealth takes work. Keeping wealth takes work too. Many companies with great promise and great products often fold because they fail to take control of the movement of their finances. Although most founders are happy to hire experts to take care of company finance, those who choose to understand and take a keen interest in their company’s economics themselves, are often better prepared to deal with monetary success or crisis. For entrepreneur Jay Awal, building a high-income skill-set by developing a grassroots level understanding of monetary exchanges is one of the most integral components of business success.
Jay was raised in New York and Florida and has been teaching people how to become financially literate in their business for some time now. Talking about the challenges he faces in doing so, Jay says, “Well, one of the first things I end up working on is something I didn’t know I would have to do.” When asked what that is his answer was surprising, “Well, people aren’t ready to be rich. They don’t believe that their business can make more than what they’d set out to achieve in their minds. As you can see, it can take quite some time for people to come to terms with their own potential. However, once they are able to overcome that obstacle, they become more focused than ever to understand and use the underlying economic capabilities of their business.”
Money can create one’s image. Money can destroy one’s image. Money is an image. And it’s one’s understanding of this image that determines the appearance of your company's economy. According to Jay, “I have travelled to over 20 countries and found that in almost all of them, most people are afraid of money. That’s the image of money in their minds. They don’t see it as a tool at their disposal, but as an entity beyond control. People are unable to use it because they are afraid to be used by it. That of course is not the case. Money is what you make it.”
Once entrepreneurs begin to take a genuine interest in the financial side of work, they are able to see patterns that can be avoided and those that can then be repeated in order to multiply revenue and reduce expenditure. Jay says, “Apart from being a virtue, honesty is also a major component in developing a high-income skill-set. It helps you know exactly where you are, where your business is at, where you are being careless, and when you are being thrifty. Honesty alone can pave the way for your next move.”
Building a high-income is a dream of many. But few are able to make it their reality. With mentors like Jay, they can hope to become financially-literate much sooner and before causing themselves and their business unnecessary anguish.