Crossing the Bridge, if you cannot get pass, you will never reach the next

By Saumu Jumanne

This is how to attain your business goals
As a human being develops in different spheres, dreams for a worthwhile future are part of living. And those dreams are attained by setting up goals and working towards their fulfillment.
One almost universal dream is financial independence, the subtle spirit that lives in the hearts of entrepreneurs.
The difference
 A dream is something you hope for, something you see, but presently it is intangible while a goal means setting up a path to walk in and putting your mind into it in terms of planning.
 The dreams of an entrepreneur fires one to set up business goals. This calls for planning ahead with a clear objective on what to achieve.  Business goals are usually two pronged- financial and non-financial. A good dreamer will set targets which with some inspiration are realizable or attainable.

Financial goals
As an entrepreneur you expect to be in a positive financial situation in the future. In order to reach there, you make your targets. How much do I want to earn? How much do I want my business to be worth? Where do I want my enterprise to be in two, five or ten years? Those are some of the question that crops up.  And it calls for setting up good strategies to attain those goals. In business language we are talking about financial planning.
Financial planning
In order to achieve your financial goals, you need to have good financial planning which can be reviewed every now and then as per the reality on ground and future projections. Financial goals acts as a way of gaining control over your money.
 To succeed you must identify and list all your financial goals. Then you need to estimate the time (set deadline) to be taken to achieve each goal. For instance, identify the goals that might be attained within a period of less than 1 year, medium-term (1 to 3 years) and long-term (5 years or more). This means that, the short term and medium term goals focuses  much on how to attaining long term goals.
 It is also important to estimate the cost of each goal (how much money is required to attain each goal).  Then determine how much to save on a  weekly or monthly basis to be able to attain your goals. Remember you need to proceed with the normal daily life while making some savings.
 Without a budget for your goals, they will hit a cropper.  You must have a plausible budget that will help you identify priority areas.
In other words, all what we are looking at today, is PLANNING what you want to achieve in the future and IDENTIFYING resources needed to make your dreams come true.
As an entrepreneur it is unforgivable sin not to know exactly what are your financial goals and how you plan to make them good.

Along the way, it is always advisable to keep on evaluating progress made. This can be at any interval which is convenient. It can be monthly, quarterly, semi annually or  annually. Leaving that element is suicidal to your enterprise.
Evaluations helps to review progress and take measures to redress shortcomings and move into the future at a point of strength. If you find that you are not making satisfactory progress on a particular goal, it is time to re-evaluate your approach and make necessary changes.
It is very satisfying for an entrepreneur to achieving planned goals thus making your dreams come true.
To attain your financial goals is much like finding a unique place that you had never been before. Finding your way there is a challenge but following the steps I have shared here will let you taking less time.  Human beings, more entrepreneurs do not plan to fail but rather fail to plan.
What hammering home is that good financial planning is a way forward towards achieving your business goals. The more detailed your plan is, the better the chance of reaching your determined destination in the least amount of time.
After all planning in business is the core of successful which shows you exactly where you want to be now and in future financially. But my friends remember achieving financial goals requires not only planning but some sacrifices as well…. Next week, best wishes. ( saumu.j@gmail.com )
*The columnist teaches at Dar es Salaam University College of Education (DUCE).

Distance Learning Ideology for a Lifetime planning of Knowledge

Ideology translates to the science or study of ideas. However, ideology tends to refer to the way in which people think about the world and their ideal concept of how to live in the world. This is slightly different from philosophy in the sense that ideology encompasses the concept that one’s ideals are the best way.
Philosophy on the other hand may examine the way ideology affects others from a more distant perspective. Philosophy however may become ideology when a philosopher sets forth ideal concepts for the way people should live. Plato’s Republic, for example, is his ideology of the best way to proceed in life.
The term ideology also may be used to describe the shared beliefs of a group of people, for example a nation, a sect of a religion, or a group of theorists. The term was most likely coined first by the French philosopher, Count Destutt de Tracy, who used the term in the 1700s to describe the more specific definition of the science of ideas.
Distance education or distance learning is a field of education that focuses on teaching methods and technology with the aim of delivering teaching, often on an individual basis, to students who are not physically present in a traditional educational setting such as a classroom. It has been described as “a process to create and provide access to learning when the source of information and the learners are separated by time and distance, or both.”[1] Distance education courses that require a physical on-site presence for any reason (including taking examinations) have been referred to as hybrid[2] or blended[3] courses of study.
Distance Learning is the best way to ideally take a course at the lowest costs possible to upgrade oneself for a Lifetime planning of Knowledge. Local technical colleges and universities could easily partner with foreign technical colleges and universities where technology will bridge the gap to provide training materials at the lowest costs possible to free lecturers and teachers to concentrate on more important matters, and easily provide a wide array of topics to increase knowledge at a time and pace according to the student. If executed properly, a Lifetime planning of the courses and the path to take will greatly keep the student relevant and stay employed for the challenges ahead where technology will advance and increase the brain power to multitask.

I have now completely passed my knowledge for everyone to succeed, only the last bit of increasing your brain power and my inventions belongs to the UN, play games with me and I will withdraw the last bit of information and let Jesus handle you.

– Contributed by Oogle.

The Future of Learning to be “Streetsmart”

What is wrong with our Education System?

Too much emphasis on academic with memory skills doesn’t equip one with the knowledge to survive in the Global Economy, you need to teach one with the lifelong skill to “fish”, in order to put bread on the table, the ability to be “streetsmart” with the ability to read the Global markets well is lacking in most higher institutions like “survival skills”, with the objectives to be trained to find options and solutions in problem solving. Our Education System does not train you to be creative thinkers but followers, which is the reason why we are so lacking in talents because there is no motivation to excel since only academics will only churn out “followers” not “creative thinkers”. – Contributed by Oogle.  

Key Strengths and survival skills which is compulsory;

The use of the Computer
Basic Programming skills eg C#, C++, Java or HTML
A.Maths
Science, Chemistry, Biology
Basic Economics
Basic Accounting with the ability to read a balance sheet
Understanding the Stock Markets
The basics of Financial instruments
Statistics using SPSS
Datamining and audit with reporting tools
Optional ;
Real Estate
Insurance

Therefore, most important is the ability to read the markets, to be able to know everything that drives the market and avoid destructive competition(not monopoly or cartel). It would take at least a basic college education before you can prepare yourself to learn the above, to prepare for a lifelong learning planning.
There is a whole new market for education learning where software, games, online and distance learning will create great opportunities to those who create materials to train the young in the following skills;

1) Linking
The ability to link a keyword to a paragraph or an entire page, where sound and video can also be linked, together with any type of files
2) Comparing between two data/objects
You also need a basic comparing method between two similar or distanced objects.
3) The ability to layout a TimeLine where there are boxes of info for you to insert. You can leave blanks for missing info and fill in the blanks later to complete the picture. 

– Contributed by Oogle.

Why Degrees Are Worthless

Originally published by @jonathannewman at Mises.org.

Students are running out of reasons to pursue higher education. Here are four trends documented in recent articles:

Graduates have little to no improvement in critical thinking skills

The Wall Street Journal reported on the troubling results of the College Learning Assessment Plus test (CLA+), administered in over 200 colleges across the US.

According to the WSJ, “At more than half of schools, at least a third of seniors were unable to make a cohesive argument, assess the quality of evidence in a document or interpret data in a table”. The outcomes were the worst in large, flagship schools: “At some of the most prestigious flagship universities, test results indicate the average graduate shows little or no improvement in critical thinking over four years.”

There is extensive literature on two mechanisms by which college graduates earn higher wages: actually learning new skills or by merely holding a degree for the world to see (signaling). The CLA+ results indicate that many students aren’t really learning valuable skills in college.

As these graduates enter the workforce and reveal that they do not have the required skills to excel in their jobs, employers are beginning to discount the degree signal as well. Google, for example, doesn’t care if potential hires have a college degree. They look past academic credentials for other characteristics that better predict job performance.

Shouting matches have invaded campuses across the country

It seems that developing critical thinking skills has taken a backseat to shouting matches in many US colleges. At Evergreen State College in Washington, student protests have hijacked classrooms and administration. Protesters took over the administration offices last month, and have disrupted classes as well. It has come to the point where enrollment has fallen so dramatically that government funding is now on the line.

The chaos at Evergreen resulted in “anonymous threats of mass murder, resulting in the campus being closed for three days.” One wonders if some of these students are just trying to get out of class work and studying by staging a campus takeover in the name of identity politics and thinly-veiled racism.

The shouting match epidemic hit Auburn University last semester when certain alt-right and Antifa groups (who are more similar than either side would admit) came from out of town to stir up trouble. Neither outside group offered anything of substance for discourse, just empty platitudes and shouting. I was happy to see that the general response from Auburn students was to mock both sides or to ignore the event altogether. Perhaps the Auburn Young Americans for Liberty group chose the best course of action: hosting a concert elsewhere on campus to pull attention and attendance away from both groups of loud but empty-headed out-of-towners. Of the students who chose not to ignore the event, my favorite Auburn student response was a guy dressed as a carrot holding a sign that read, “I Don’t CARROT ALL About Your Outrage.”

Trade schools and self-study offer better outcomes for many

College dropouts are doing just fine, bucking the stereotype. Some determined young people are skipping college altogether to pursue their business ideas. Many are also choosing trade schools, which require less time and tuition money, but graduates end up with a specific set of skills. Trade school graduates leave school prepared for the industry they enter, where they can earn much higher wages than many four-year degree-holders.

Young men in particular are leaving colleges in droves. Over the past decade, 30% of male freshmen dropped out before starting a second year. The journalists, psychologists, and sociologists who comment on this trend can’t figure out how to fit it into a narrative [emphasis mine]:

“This is very concerning to me,” Hunter Reed said. Young men — like all students, she emphasized — need support from a variety of groups to thrive in higher education.

“The most successful have a sense of place in college,” she said.

Stark, 28, studied computer science for a year and a half before leaving Metro State University to study on his own.

Now a software engineer for a music company in Denver, Stark also DJs at some of the area’s most notable nightclubs. “What I was getting in the classroom just didn’t jibe with me. I felt I could teach myself on the Internet,” he said.

He worked a fast-food job and then took a corporate gig to support himself while he studied on his own. The alternative, he said, was to work four years to get a bachelor’s degree and then another year or two to earn a master’s degree, then “go to work for some huge company and go home at night and live my life with my family. And that just didn’t sound appealing to me at the time.”

Notice the call for helping these poor young men “thrive in higher education” that precedes a small anecdote about one man who dropped out and ended up just fine. Later in the same article, the author says that young men shouldn’t assume they will do well if they drop out, but then equivocates by turning it into a gender wage-gap problem to explain how some men do seem to turn out fine after dropping out:

Observers say many young men delude themselves into thinking they are one idea away from being the next Bill Gates or Steve Jobs. They think they can make a fortune without a college degree, said Riseman. “As a result, they enter college with little sense of purpose and end up failing out,” he said. “While these dropouts imagine they can succeed without a degree, successful start-ups are rare.”

While young men without degrees, in general, land higher-paying jobs than their female peers, many of the top-paying jobs are in high-risk industries like oil and gas or manufacturing.

Tuition is increasing, but future earnings are decreasing

In another recent WSJ article, we see the financial consequences of these trends. While tuition keeps climbing across the country, the prospective earnings of graduates aren’t keeping up. There is a lot of variation across colleges and majors, but the overall trend is that the returns to a four-year degree are decreasing.

Since students are just getting started in life, it means that they must borrow to pay for these expensive degrees that don’t guarantee higher earnings. Total student loans are at $1.3 trillion and climbing. These loans have no collateral and cannot be dissolved through bankruptcy.

The New York Fed tracks the delinquency rate for different types of loans. As of the first quarter of 2017, total student loan debt was increasing the most and had the highest delinquency rate.

These trends are unsustainable. The higher education system seems to be suffering from both economic and cultural issues, but these two types of problems often cause each other in a feedback loop. The ultimate cause for both of them is political.


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How to get out of Debt

If today you are in debt, 
You can borrow from future earnings, 
To repay the present, 
But you must do the extraordinary, 
By putting extra effort, 
To tremendously increase your income, 
Or by having multiple income, 
That is more than your debt. 
Therefore it is posssible, 
To generate a financial plan, 
To renegiotiate with your creditors, 
Reorganise your financials, 
In order to solve your problem.

Road to Success

The road to success, is a lifelong journey, its that never ending quest to acquire, sufficient knowledge to complete your goals. Today’s education is just a stepping stone, in order to raise to management you got to learn, all aspects of your industry, your business’s goals with respect to all markets, being booksmart is not enough, than being streetsmart, and there is not an educational institution, to teach you to be streetsmart. More emphasis should be taught, a module or a series of modules, at education of higher learning, for managers and business owners, how to read the markets, how to indentify trends in the markets, how to determine demand and supply, how to meet demand without destructive competition, the use of economic data by countries to determine and plan your business goals. I could not show you the importance, by being streetsmart it will determine, whether you succeed or fail, and by studying information, you could plan your goals, and the determination, that success can only be found, if you knock at every door, cause you will never know, if that next door you open, will give you that final break. So proper planning and control, must be in place, to ensure you have sufficient resources, in times of failure or setbacks, you can still take the knocks and restart everything from scratch again. If once you are fallen, and can not stand up again, it is an eternal failure, you will not see success again.

To resolve Poverty, invest in your child’s education

In order to resolve poverty, 
Families must provide, 
A decent education for their children, 
To develop their fullest potential, 
To ignore is to restrict your family’s future, 
And you will never get out, 
Of the poverty cycle, 
Governments can help, 
But families must plan, organise, and execute, 
A Financial Plan, 
To save for the future, 
A little a day, with years gone by, 
To accumulate wealth, 
The rising cost of inflation, 
Will erode your present earnings, 
When the time comes to pay, 
For your children’s education, 
You will never have enough, 
Unless you save day by day.