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Presentation by Yewande Ajayi – Akpiruo 3 rd May, 2014.

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Presentation on theme: "Presentation by Yewande Ajayi – Akpiruo 3 rd May, 2014."— Presentation transcript:

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2 Presentation by Yewande Ajayi – Akpiruo 3 rd May, 2014

3 Principle 1:Article of Association Partnership Insurance Principle 2: Money Matters Other Peoples Money Financial Proverb Principle 3: Team Management Choice of Team Person Specification With Case Studies from the Bible

4 Article of Association : A document that specifies the regulations for a company's operations. The articles of association define the company's purpose and lays out how tasks are to be accomplished within the organization, including the process for appointing directors and how financial records will be handled. Section of the Article to consider: 1) Partnership 2) Insurance

5 Business Partnership as a legal entity is an organisation in which two or more individuals manage and operate a business concern. Both owners are equally and personally liable for the debts and share the profits from the business VERSUS A strategic partnership occurs when two or more companies form an alliance that will give each the ability to achieve what each may not have been able to achieve alone. For example, one party in the partnership may possess a business asset (skills, financial resources, manufacturing processes, and others) that the other party lacks.

6 BUSINES PARTNERS MAKES OR BREAK BUSINESS ENTITY SO STRATEGICALLY CHOOSE YOURS Qualities Who to Partner with in Business:  Trustworthy  Share your core values  Complement your skills  Have passion for the venture  Helps to push the team forward Advantage of partnering with God 1. Shift liabilities 2. Inside information that adds value to your business

7 Case Study on Strategic Partnership Luke 5:1-7 Facts of the Case  Peter a professional Fisherman who toiled in his business without result  Jesus got into Peter’s business Entity (ie his boat) and partner with him  He gave Peter inside information of where to get his products (ie the fishes)  Peter acted on trust (let down his net)  Result net breaking catch, that required him to invite more partner on board

8 Insurance is a financial Product sold to individuals or business entity to safeguard them and their properties against risk of loss, damage or theft. Types of Insurance - compulsory as per law e.g. car insurance - as a condition of a contract e.g. building insurance - sensible to take e.g. health insurance Benefits of been insured Peace of Mind – That is the comfort of knowing there is a certain measure of protection from unforeseen tragedies and losses.

9 Case Study on Business Insurance It is very important to insure your business or your earning, so I want to introduce you to Business Insurance Extra-ordinary: The Malachi 3 Act section 10 – 12 The Statement of Fact from the Case Study: The promises in this act gives you peace of mind on your business in the following ways:  It opens effective and perpetual doors of opportunities, so, in flow of business is regular  It prevent destroyer or any bad thing that may affect your business negatively  Protects or shield your business from dictates/mood of the economy  Position your business to be recognised by nations

10 Mathematics of Tithing 100% of nothing is = 0% 10% of 100% = 90% Nothing venture nothing gained an idiom means: -If you do not take risks, you will never accomplish anything. Or -Sometimes it is necessary to take risks in order to achieve something Give your tithe first and in totality dare GOD’S promise in his WORD

11 Money can be defined in many terms:  The common medium of exchange; functions as legal tender  As the official currency issued by a government or national bank Money is a sour topic to discuss, it seems as though we either LOVE or HATE money. Either way, your attitude towards money can get your business into trouble Important Facts about Money:  Other Peoples Money  Financial Proverb

12 Other People's Money (OPM) is an old way in which capital can be raise to start or sustain a business venture. Understanding this principle makes the difference in how aspiring business owners would handle the issues of start up capital for their entity. This principle is about borrowing from others to sustain or start of any business venture. Forms of OPM Credit cardOverdraft Bank loanStore Cards Credit unionBorrowed Money from friends/families

13 Case Study on Other People’s Money 2 king 4:1-7 Facts of the Case Study 1. Lack of foresight of the son of the Prophet, put his family under siege: a) He die and left his family in debt b) the creditor came to seize the children he left behind to put them in bondage c) he widow seek help from Elisha 2. Elisha question - What do you have? the widow’s answer – nothing safe a little oil 3.Elisha infamous instruction – Borrow a lot of vessels from neighbours and pour the oil she got in the house 4. the widow acted on the instruction, the oil did not seize until there way no more vessel and she stopped 5. The significant of it all – she enjoyed abundant by borrowing what she didn’t have (vessel, money etc) and pour what she has into it(oil, skills etc)

14 The Litmus Test on other people’s Money 1. Liability - what takes money away from you or your pocket e.g. car 2. Asset - what brings money to back to you purse eg car  A car to a Taxi driver is an asset because it brings returns of income to the Driver  A car is a luxury for a Teacher because it is not directly involve with the return of income to the Teacher  Note you deserve LUXURY you work really hard but please don’t buy them with other people’s money

15 Money is a sore topic to discuss, it seems as though we either LOVE or HATE money. Either way, these attitudes will get us into trouble regarding money. Some truth and advice on money matter: - Spend your money on purpose not on impulse - Pay attention to where your money goes - know what you have or don't have - Have a game plan for your financial activities and execute it – ie a budget - Don't buy liabilities buy assets - Know what you want to do with your money before

16 Case Study on Proverbial Statement Proverb are well known saying that gives good advice or express a suppose truth Proverb 23:5 – Facts of the Case Study Money is very fluid In time and season money change from one person to another Money do grow wings – Some have it today Money takes changes regularly and takes the form or shape of it container – The

17 Team is a group of people with different skills and different tasks, who work together on a common project, service, or goal, with a meshing of functions and mutual support. When there is a Synergy the team performs in a way that is greater than the sum of its parts. Which is profitable to any business Fact to Considered about Team:  Person Specification for your Team

18 Person Specification for your Team – it is important that you choose individuals with the following character on your Business Team:  Someone who is willing with the “Bring it on, I can do it attitude”  Someone with loads of passion – you want something go get it mind set.  Someone who is very determined, they don’t debate, if it can be done they just find a way to get it done The film to watch - The Pursuit of Happiness

19 for Yewande Ajayi - Akpiruo


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