The Grit & Abundance Podcast

During this week's main episode, I cover the last of the business units; Public/State corporations.

• Public/state corporations are organizations formed by and/or controlled by the government. This means that the government owns more than 50% shares in the corporation.
  • Where the government has full ownership, the organization is known as a parastatal.

Under this business unit, we go over the following:

1. Characteristics/features
2. Formation
3. Management
4. Sources of capital
5. Advantages
6. Disadvantages
7. Dissolution

Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

If it's Monday you already know it's Motivational Mondays. The Grit & Abundance Podcast is back after a short break. During this episode, I talk of how to stay determined & disciplined in pursuit of your goals and dreams.

The message is that you have greatness within you and you need to tap into that inner divine power of yours. It's not just in some of us, it's in all of us.

• A company is an association of persons registered under the companies act who contribute capital in order to carry  out business with a view of making profit.

In this episode we go over the Limited Liability Company (LLC) type of business unit covering the following:

1. Features
2. Formation
3. Sources of capital
4. Types of companies 
5. Dissolution

Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

• A co-operative is an incorporated business unit that is owned by and run for the economic welfare of its members. The members join together to do collectively what they were previously doing individually for mutual benefit.

In this episode we go over the Co-operative type of business unit covering the following:

1. Principles of co-operatives
2. Features of co-operatives
3. Formation
4. Management
5. Types of co-operatives
6. Advantages
7. Disadvantages
8. Dissolution

Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

• A partnership is an engagement of two or more people who run a business as co-owners. These owners are referred to as partners.

In this episode we go over the Partnership type of business unit covering the following:

1. Characteristics of a partnership
2. Types of partnerships
3. Types of partners
4. Sources of capital
5. Advantages
6. Disadvantages
7. Dissolution

Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

Mondays are for Motivational Mondays. Today's message is a message of love, greatness, gratitude, joy, kindness. You're bound to do great things regardless of whatever you're currently going through but you'll never get there if you quit. Whatever you're doing keep going and if you fall, learn why you fell and grow through it; you never know how close you are to accomplishing your goals and dreams.

• Covered a A Return to Love poem by Marianne Williamson

This is the first episode in a new philosophy of money series covering 5 major business units: Sole Proprietorship, Partnership, Co-operatives, Limited Liability Companies (LLC) & Public/state corporations.

Under each of these business units we'll cover:

1. Characteristics
2. Formation
3. Sources of capital
4. Management
5. Advantages
6. Disadvantages
7. Dissolution

This episode covers the most basic and simplest business unit which is the Sole Proprietorship.

Disclaimer: Majority of this information will be derived from a course text I used in High School in my business studies class called "Investor 2". This information is still however relevant to date.

Mondays are Motivational Mondays. That extra drive/push to get your day/week started counts for a lot. This episode covers:

1. Proverbs 23:7 - "As you think, so you become."
2. "The best thing you can do for the poor is not to be one of them” (Andrew Matthews)
3. Matthew 26:11 - "The poor will always be among you."
4. Lack of gratitude is one of the largest blessings inhibitors.

In this episode I talk through one of the easiest tools to use to build credit; Credit Cards. But first a disclaimer that getting into credit card use is a slippery slope that needs a lot of discipline and without which can lead to heavy indebtedness without applying the proper knowledge that we cover in this episode.

1. Credit bureaus are companies that provide credit reports on individuals and institutions to creditors. 
   • Creditors are the people who provide loans ie. mortgages to the general population. Well known credit bureaus are ie. Experian, Equifax and TransUnion.
2. Credit scores are measures of credit worthiness ie. the FICO credit score which is created by they Fair Isaac Corporation (FICO). 
   • These credit scores are used by credit bureaus to generate credit reports on consumers.
   • Credit scores range from 300-850.
3. FICO scores take into account data in 5 areas:
   • Payment history.
   • Current level of indebtedness.
   • Types of credit used.
   • Length of credit history
   • New credit accounts.
4. Types of credit card holders:
   • Transactors. Those who pay off their balances in full every month without carrying over any balance.
   • Revolvers. Those who only pay a portion of their credit card balance and revolve/carry over the remainder forward to the next month.
5. Main things to be aware of on a credit card bill:
   • Due date (Normally 30 days from close of the billing cycle** confirm with your provider).
   • Statement balance (Amount you owe during that billing cycle).
   • Minimum payment due (Normally 3% of the total statement balance or $25; whichever is higher** confirm with your provider).
6. Always check the fine print of any credit card offer or statement and be on the lookout for:
   • Late fees.
   • Transferring balances fees.
   • Cash advance fees.
   • Annual fees.
   • Annual percentage rate (APR).
7. Lessons learnt:
   • Try to be a transactor and not a revolver. ALWAYS if at all possible pay off your credit card balance at the end of every billing cycle.
   • Automate payments/set a reminder for when your payments are due.
   • Maximize rewards earned.
   • Avoid fees ie. annual & late fees.
   • Avoid paying interest by paying off your bill in full so that no balance is carried forward.

If it's Monday you are already know it's Motivational Mondays. Welcome to a brand new week. I have a message for you today. In this message we cover:

1. Three objectives to cover when presenting; Let your audience know:
   • Who you are.
   • What you are presenting.
   • Why they should be interested/listen.
2. Need vs Seed.
   • The ground says to the farmer, "Don't come to me with your needs, come to me with your seeds. Don't bring me your needs, bring me your seeds."