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CREATING WEALTH USING PRIMARY CAPITAL: THE UNTAPPED WEALTH OF IMAGINATION

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You may be missing out on the number one revenue spinner in our world today and that of tomorrow: Creativity.

Creativity as a goldmine is largely under-tapped and under-exploited by many as evidenced by the number of poor people in our world today. For every poor individual you see, there is a very low and poor Creativity Quotient (CQ). Nobody that truly deploys Creativity can be penniless.

The emphasis on ‘truly’ it means some people do deploy Creativity but not correctly. It simply means some Creative individuals can still be poor especially when they have not moved from ‘Creative Expressions to Creative Business.’

This article is to prepare you to take the quantum leap from squalor to splendour through exposing you to insights, recommend further capacity building as well as show you how others have leveraged on Creativity to generate, multiply and sustain wealth.

I want to begin by letting you know that it is Thinking and Imagination that births business ideas. They are both the primary capital for wealth creation without which you will not be able deploy other forms of capital like land, labour and money.

What truly creates Wealth? Todd Hirsch and Robert Roach, echoed my thoughts when they asserted that:

Economic wealth isn’t created by oil and gas molecules in the ground, nor by an auto assembly plant. It isn’t created by tax credits or subsidies. It isn’t even created by economic development programs. Wealth starts with one thing: an idea.

Hirsh and Roach in their book The Boiling Frog Dilemma argued that Canada in the 21st century is at risk of falling behind internationally. They stressed the need that Canada seriously “up their game” in terms of creativity, innovation, risk taking, entrepreneurialism, cosmopolitanism, community, and re-thinking environmental stewardship—or risk becoming economically irrelevant on the global stage.

This underscores the reality of our time globally because it is not only Canada but it holds true for every individual and nation on the face of the earth.

Currently, I know for a fact that Dubai and Israel, are striving and thriving during this global shift by exploiting their “creative energies.” What’s powering these two economies is not natural resources, necessarily but applications of creative ideas in real-time.

You need to shift your understanding of what creates wealth. It’s not natural resources, it’s Imagination, Thinking and knowledge-based resources. These are the baselines that create true wealth.

Companies have been founded out of the wind (Creativity) using their minds, brains and vision alone to birth amazing net worth running into millions and billions of dollars. Want to better understand the role of the mind in Creativity? This particular course will set you on the right path: Mastering your Mind for Optimal Control

The fact is that the root of invention and innovation is Creativity while the fruits and branches translate into revenue as a result of the value in form of IP Assets (products and services) exchanged for money in the market. To better understand IP Assets and the wealth domiciled in Creativity, is suggest you visit Skillcomvalley and take the course: IP Asset Merchandizing. You will be glad you did. 

However big you see Apple, Google and Amazon today, Creativity has been the crucial driver of their success. They are also living proofs of the concept of Creativity across board which they have converted to immense wealth via products and services in the market.

Companies such as 3M, Frito-Lay, and Texas Instruments, have introduced systematic Creativity activities into their training and production processes with exceptional ROI results. Frito-Lay, for instance, reports documented cost savings over a four-year period of almost $600 million due to their Creativity training programs alone.

Examples of other Creativity skills training that brought in massive ROI include:

  • The Wall Street Journal reported that a two-year in-house Creativity course at General Electric (GE) resulted in a 60% increase in patentable concepts.
  • Participants in Pittsburgh Plate Glass Creativity training showed a 300% increaseinviable ideas compared with those who elected not to take the course.
  • At Sylvania, several thousand employees took a 40-hour course in Creative problem-solving.ROI: $20 for every $1 spent.
  • Hewlett-Packard (HP) invested over $2 billion in R&D in 1999 and generated more than1,300 patent applications with a Net revenue of: $42.37 billion. (Source: HP 2000 Annual report)

The above data clearly proves without a doubt that Creativity is indispensable for any individual or organization seeking to be relevant and competitive irrespective of industry or sector.

At this point, I think it is necessary to discuss the genuine role of Creativity in the science of economics.

Improving the conditions of life for an expanding global population is not based on money. To understand real economic growth, it is important to realize that it is physical (not monetary) inputs injected into an economy that yields improvements in the productive powers of society, which causes an increase in aggregate of wealth.

It means humans have to think and act Creatively to transform nature lawfully for the continuation of our noble species as well as advance development. Natural resources are not the ultimate source of value. It is the Creativity of human labour that adds value to resources in the production process for ultimate wealth.

Let us briefly examine energy from a higher conceptual standpoint. On the simplest level, crude oil has existed for millions of years. However, it only became a valuable resource to humans when Creative individuals created and implemented the necessary technology to utilize crude oil for energy, which became the dominant fuel that powered the 20th Century.

Put together, I believe you can agree with me that it is the profound ability of the human Imagination and Mind to continuously discover higher principles embedded in the physical universe, which lifts humankind from one plateau of economic activity to the next superior one. In the final analysis, civilizational progress originates from the human mind, not nature per se.

You can get rich with a scalable product or service you created together with a commitment to massive selling and marketing. The real reason many businesses fail is because they didn’t bring in enough revenue quickly enough. Selling a lot solves that, and will make you rich on top of that only if you start from the very beginning which is Creativity with solid Thinking and Imagination.

To begin your Creativity journey, you must never be satisfied with the status quo. You have to seek to fill gaps, ask questions, explore answers and go into the field to translate whatever ideas you generate.

After reading this article, what changes are you going to make in order to effectively monetize your Creative forms and ideas and how are you going to explore and exploit your capacity to Think and Imagine more?

I would love your feedback simply reach out to maxwellyekaghe@gmail.com

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