Business & Finance Entrepreneurship-startup

Frugality - Great Key For Building A Great Business

Starring at the small beginnings of lot of businesses, many people have usually asked about the secret of their growth. However, there is nothing secret about this old principle of frugality. And I have come to realize that prosperity is inevitable when we judiciously maximize profits and minimize losses. Reading the Holy Bible of late, I have discovered some priceless principles of frugality which I would like to share with you in this article.

You see, there is no need to be envious of successful people, you can be successful too! One cardinal feature of very intelligent people is that they have child-like minds, and are open to a wide variety of new ideas and possibilities. This makes them very creative and progressive.Frugality is one of the traits of successful people. Frugality is the careful and wise use of money, resources and opportunities. Our Maker has given us everything in this life to control. We are the custodians of these resources. He expects us to use them wisely.
If you don't use the resources wisely, you will end up poor.Let me now share with you the frugality principles I discovered from the Bible:

Principle 1: The Principle of Gathering The Crumbs
After feeding the multitude on the mountain,Jesus taught a great lesson when He gathered the crumbs. Jesus just blessed a small boy's lunch of five barley loaves of bread and two small fish, and He fed them all (Reference: John 6:1-12). After the miraculous meal was over, He instructed them to gather the crumbs so that nothing be lost. Twelve basket of crumbs were collected. Why would someone who could afford to take five thousand people to the restaurant be interested in crumbs? The answer is simple: frugality!

From my wee experience in this life, I have realized that it is often rich people who congregate crumbs. If you do not develop to the point where crumbs are important, you will never be rich, neither will your business be prosperous. Make out the few things that you have, and consider them to be important. Even if you can stay at the same income level and reduce the waste, suddenly you will increase and become rich. I like the way Robert Kiyosaki of Rich Dad fame puts it: "The rich buy assets and the poor buys liabilities."

Your business will grow when you can stop the waste and check the high, unnecessary bills and overheads.

Principle 2: The Principle of Seeing the Changes Ahead.
"A prudent person foresees the danger ahead and takes precaution,the simpleton goes blindly on and suffers the consequences" - King Solomon of Israel.

King Pharaoh of Egypt had a dream about seven obese cows and seven lean ones.In the dream he saw that, out of a river, the seven obese cattle
came out to graze. Suddenly, seven other extremely lean ones came out of the water and ate up the fat cattle (Reference: Genesis 41:1-4). When Pharaoh had this dream, Joseph, who was then a prisoner, explained to the King that the seven lean cows stood for years of poverty and the seven fat cows, years of prosperity. Joseph advised him to store food during the times of plenty, so that he and the whole of Egypt would survive the lean years. This is wisdom for unbeatable prosperity!

A poor old man who looks like he never had any wealth, probably did not use his seven fat cows very well.If you do not learn to save and invest during your fat cow
years, the lean cow years will suddenly overtake you, leaving you with nothing but faint memories of how well you lived ages ago.

Principle 3: The Principle of Not Hounding After Fantasies
Many people waste their lives chasing fantasies. Fantasies are things that are not real, they are things that are not in your hands.You may have something that is right before you, but instead of working on it, you go chasing after something else. You will definitely have poverty. There are things that are right before our eyes, yet we don't want them. We prefer something else. If a businessman leaves what is in his hands and go chasing after the "wind", trying to become illustrious, his company will surely collapse.

Frugality is the way to exploit the meager resources at your disposal. Apply these principles and prosper!

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