Invest in human capital to create wealth

times more for a part that retails at US$1 500 in South Africa, when his car broke down on the way.
On the flip side, I needed a new window for my vehicle and I found a gentleman who came to my office and fitted a second-hand one for the same price that the official suppliers quoted me just for the labour if I went to them.
Not only that he fixed a minor issue that arose during the replacement process at no extra charge. Guess where I will be going next time I need parts.
Somewhere along the way many Zimbabweans have picked up a mantra that goes “get all you can as fast as you can get it, at any price”.
The price here is not the monetary value but that of reduced service delivery, burnt bridges in relationship capital, and a numbing of any moral norms that previously existed.
The “fast food” mentality does not work when it comes to wealth generation and creation. Wealth is built over time, not overnight. Here are a few key issues to wealth generation, for you and your business.
Invest in human capital
Relationships matter. If you treat people like dirt, well they are not going to stick around.
If you treat your clients like a money vending machine and squeeze them for all they have got, well sooner or later there will be nothing and no one to squeeze.
Building relationships takes time. Building relationships takes effort. Cultivating trust is a process. Find people who are like-minded and build with them. Realise that productivity is not just about cutting costs any more but finding people who can get the job done.
Budget wisely. No matter how good you are at maths if it costs more to make something than it does to sell it then you are going to lose money. Consider the hidden costs to a project. If you are self-employed include things like the wear and tear on your vehicle.
Look at the long-term replacement costs (just when do you think you will need a new laptop). Now I am not talking about artificially inflating your costs to justify a ridiculous price but about taking a very real look at the nitty-gritties of your expenditure.
Have an idea of what you will need each month, then examine, refine and work to make sure it balances. If you do not know how then get help. There is nothing wrong with asking for help in this area. Get a good accountant. Admitting your ignorance is the first step to fixing it. Have a sense of your value.
What do you bring to the table? More importantly what is it really truly worth?
Here is a good one, what would you like to be worth? Now look at what you can do to get to that worth. Companies are filled with pen pushers who feel entitled to their salary at the end of the month, not because they are productive but because, well, they pitch up at work and that entitles them to something doesn’t it.
I worked in a bureaucratic department once where a particular member of staff did one hour of real work a day and thought she was entitled to full pay at the end of the month.
If you are asking for a pay rise you better be able to demonstrate why you deserve it in terms of value added to the company, not just because you need more money for school fees.
Learn more, be innovative and add value. While you are at it learn to recognise value in others. Be a giver. Give to society. Give to others. Not just in monetary terms, but your product alone should be an act of improving the lives of others. The process of production should enrich those who work for you. Generosity is a lifestyle not just a tax-deductible expense. Think a little long term. You cannot take anything with you when you die, you can only pass it on to someone else.
Give to the next generation by building an inheritance in both wealth and moral fibre. Make the vision of your company extend beyond your tenure.
Do not expect massive changes overnight. Working on people takes time. Budgeting takes effort. Character issues take a while to fix. So stop thinking about how much you can fleece the next mark for, but how you can work an exchange that enriches both your lives.
Oh and if you are in the spares business, reconsider your inflated labour costs if you want me as your customer.
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