Let's Celebrate Christmas But...

It's Christmas again. Time to be merry. We've spent the whole year preparing for this. Time to celebrate the end of another year and as usual, it's time to empty our wallets again, whether we like it or not. Trips to the village (or the cinemas and other leisure centres), new clothes, decorations, and oh...food, lots of it! Rice, chicken, turkey, beef, fish, yummmmmmy! Bring Christmas already, I can't wait! I've earned it (one way or the other.)

The year end is associated with spending, heavy spending for that matter. No one, I repeat, no one is exempted from the merry-making and the spending. This is what we've all been waiting for right? Hold on! Whoa! Apply some brakes and remember that after the lightening comes the thunder! After the joyous and lavish spending (and most certainly sybaritic to some epicurean folks ala the party freaks) associated with Christmas, comes the reality check of January...bills, more bills and more bills. To some, it's the rent, for some other folks, it's their childrens' school fees. Almighty January lays the law of conservation and frugality and that brings out the manager in all of us. Let's talk about that later, let's review 2010.

2010 has come to a conclusion just like that. Another year gone just like that? Let's take stock of the out-going year, dear reader. What have you done with the year? Did you do yourself any financial favours this year? Did you keep something aside? Anything at all...If you did, congratulations! If you did not, there's no need crying over spilt milk, 2010 just proved to us that time waits for no man! Does that mean you've failed in the area of financial planning? Not exactly, it only proved that you're human and prone to mistakes.

2011 is an opportunity to remedy that mistake. As the year draws to the definitive and inevitable close, the close of another chapter, please be determined to open the next year well. Hit the ground running! What are those factors that prevented you from having the time of your life? The factors that prevented you from living your dreams and giving life to your plans, need to be dealt with. You need determination, consistence, perseverance, focus and of course, prayers. We can't run from that fact, every single one of us believes in God regardless of the religion (am not talking about a 'higher power' like Gaia or the earth or something like that, that's just sad...am sorry I don't understand that kind of faith)

Be ready to embrace change. Many don't have a savings plan and don't care about one because according to them, they're trying to make ends meet. Everyone is doing that, even the folks living on the Banana Islands, the Oniru estates and Parkviews of this world would tell you that. It would be unfortunate if all you, my dear reader, wants to live for is today! Live for your own  life and your own comfort and do not plan for tomorrow. I wonder who you're playing? Married folks would say they can't save because of their childrens' upkeep. Who, I wonder, are you working for? Yourself or your children? Please take this advice...work for yourself! Why? Why not for the children? Well, do you need to guess that you're responsible for the children? That's right! It's your job to provide for your children, it's your job to prepare the path of life for them. You called them from the courts of comfort called heaven the day you got married and agreed to become a parent.

Singles would say they can't save because they're not comfortable yet. I support that logic totally! You can't do anything if you can't fend for yourself can you? Nah...the singles are excused from savings. Try to remember though, you can't be comfortable running after the latest designer labels and the cost that come with them and be comfortable. You can't be comfortable doing the Hennessy Beat Bar Crawl with Olisa every month, it's costly, damn costly! You need focus, you can't be painting the town red and wanting your account to grow or swell, that's having your cake and eating it. Consideration should be the singles' watchword. Think about the head start you can give yourself, when like my first unmarried clients, you're building something you can fall back on, your contingency plan when the load of marriage starts weighing you down. Oh...you've forgotten about getting married? You'd better not! This, after all is Africa, your folks won't take that from you no matter how liberal they are.

What would you do right with money in 2011? 

• Start with a good plan. Get a piece of paper and outline your financial priorities in 2011, do your opportunities cost and stick to the plan. Don't let it be like your usual new year's resolution to go to the gym to lose weight, it's much more serious than that. 
• Select your savings strategy (take a little time to go through my blog archive, savings strategies were discussed in the earlier posts of this blog)
• Get a hold of good financial advice. That's my job and there are several other guys you know out there that are in the financial service sector.

Dream big, start small. Think about building your dream small. Do not start thinking about loans right now, that's not very workable right now, the economy not kind to anyone and banks don't give small loans anymore. Think of starting your project by saving for it and that you can achieve by starting small. Do not have dreams that will swallow your finances. Nothing kills the spirit more than failing to achieve ideas you've always nurtured in your mind. While nothing is wrong with dreaming, do not conceive

Don't forget, time waits for no man. Start working on it right now. Do not do tomorrow what you can do today. Procrastination does not help to achieve anything, instead it is a killer of ideas, a very potent dream killer!

As Christmas is knocking on the door and you prepare to have all the fun you can get, don't forget if you're drinking, don't drive. If you're driving, don't drink. Have a fabulous ending to 2010!

I remain your friend, Olumide Ogungbemi (07056989820, 07033588160) and I'm Insurance marketer with Standard Alliance Life Assurance Limited.

The danger of Procrastination

It happened to my friend lately as he was driving down the streets of Lagos. He ran into the traffic light as it was about to turn red in just fractions of a second. He had the chance to continue moving but as he's contemplating to move or stop, he got caught between traffic. Needless to say we were guests of LASTMA's for some hours because of that slight moment of hesitation, it taught him and me a major lesson. What's incredible is that he got caught again the following weekend repeating the same offence!

Hesitation is the prelude and relative to procrastination. While We're guilty of hesitating when making some of life's decisions, when finally we've decided what to do, we go on to procrastinate. We postpone what we can do today till tomorrow. We wait, pass time turning the decision in our minds, asking if we've chosen right or not. The sad reality is that we could get caught on the wrong side of life and life may decide not be as kind as LASTMA. Life might just hit us when we don't expect. Hit us hard! Where else do we hesitate and procrastinate the most as human beings? Financial matters.

I'm not trying to be a self-proclaimed prophet of doom but from what I've experienced in the insurance industry, a lot of young folks out there are playing with their financial future! We think we have time in our hands while each day does nothing but draw more strength and life from our bodies. Each moment we wait and waste on being indecisive may cost us...and God forbid, it may cost us big. Ask yourself this question, (please be frank) 'What foundation am I laying for my future?' 

Ruminate on that question for a bit of time and you realize that majority of us intend to start saving tomorrow, not today. Mind you, tomorrow, like the saying goes, never ends. It can only lead to a chain of other tomorrows that have their own chains of other tomorrows. In other words, we find ourselves living in a state of uncertainty. Can you imagine something so careless and unsafe as living in uncertainty in this yo-yo like economic state of the globe and the cataclysmic instability the Nigerian state of things can add to such volatile mixture? Finances, investments and financial plans could go up in flames at any time and the question is, what would you do after the whole thing explodes!

My guess like yours is that the world has always taken care of itself (with God's infinite mercy and help as always) but which side of the divide do you want to be standing? The safe and prepared side or the uncertain and perpetually hopeless side? What are you doing about your savings? What plans do you have towards savings? What strategy have you adopted so far? What are you doing about financial protection? What are you doing about insurance?

The earlier you start, the better for you as that would give you a head start in the race. Unless you're a politician of clout and stature, in Nigeria you cannot become an overnight millionaire. Financial stability is not in the lotto nor promos nor gambling, these schemes might get you some money but they won't sustain you, trust me. 8 times out of 10 fast money leave as fast as they come. Simply unstable and unsustainable, they have a way of getting to the head and are more often than not, spent on satisfying the thirst of wants, not of needs.

Many of the prospects out there would love to get insured, many confess they like what being insured means to them but they would want to do it later. "Why not now?" I usually ask them, the funny thing is they have no concrete answer. They claim not to know why. The answer to that is simply...human nature. Since being insured is an intangible and future investment, we tend to ignore it because we cannot grasp the result of our effort in the shortest time possible. Therefore, being insured looks like a tall order to many of us, except those with the will and vision of what tomorrow could look like. The time to may hay while the sun shines is now. The time to put something away for the rainy days is now. The time to start building for tomorrow is now.

"It's too early for me to consider insurance, am not yet 30, single and independent and would not have financial problems anytime soon. In fact, I can't even see where it would come from." said the young man I was prospecting the other day. What he does not realize yet is he's very ripe for it. He is by far the luckiest young man I've met since I started insurance marketing, there's nothing stopping him, he has everything it takes to do the business. But unfortunately his hedonistic tendencies and the uninformed and misdirected mindset coupled with the unwise notion occupying his head and pumping into every pore of skin - that he must enjoy life, to put it mildly, is what is preventing him. He would consider it in his latter days. What gives him the assurance that he would have the same vitality and bounce 10 years down the line? How sure is he that he's prepared to face this battlefield called life?

For all of us young folks thinking we have time and enough money to last our lifetime, try find out how many NBA and NFL stars in the U.S are still living the dream after retirement. Mohammed Ali has more fans under the age of 25 than 'Iron' Mike Tyson (how many under 25's know that guy?) The time of youthful exuberance could push one into reckless spending and inefficient financial planning, ask those who know. While Jodeci

Don't push till tomorrow, the financial decision you can take today. The cost may just turn out to be too much for the mind bear. Nature and society would soon beckon on us, young folks, to come take the place of our fathers while they retire to rest their limbs, do you think that would be the appropriate time to handle your own future. By the time you're laden with family responsibilities, you might not have the time and resources to build anything anymore. That is why at Standard Alliance Life Assurance Limited we're not just into insurance marketing, we offer all kinds of solution to all sorts of financial problems. Don't wait till you're neck-deep in the financial quagmire, take the decision now. It's unbelievably sad what can happen when we hesitate. My name is Olumide Ogungbemi (07056989820 and 07033588160) and I'm with Standard Alliance Life Assurance Limited.

the rookie blogger: TAKING CARE OF YOURSELF

the rookie blogger: TAKING CARE OF YOURSELF: "Nothing has been dominating the news lately in Nigeria than the 2011 elections. All one hears these days is something concerning the 2011 el..."

TAKING CARE OF YOURSELF

Nothing has been dominating the news lately in Nigeria than the 2011 elections. All one hears these days is something concerning the 2011 elections. The other day some insidious and infinitely wicked souls tried importing firearms and weapons in 13 containers through the Apapa ports into the country all for the 2011 elections. A few weeks later, some suspicious looking goods were intercepted at a transport company's terminal, the malicious cargo contained bulletproof vests, camouflage fatigues, and other munitions, all for the 2011 elections. Boko Haram, the infamous religious sect in the North, has started underground recruitment and training of gullible youths, all in readiness for the 2011 elections. The lawmakers (upper and lower houses) are in the process of handing out bountiful pensions to past leaders(?) of the country, all in a bid to secure their support and endorsements (according to conspiracy theorists) for the 2011 elections! 


And what about the man in the eye of the storm? President Goodluck Ebele Jonathan, cool as cucumber, cool as ice, cool as ever, the man is not even showing us anything! (him, no even show anything at all...which kain man be dis sef?) What direction and at what pace, only God knows where "Naija" is headed. Oops! Aunty Dora said we should stop calling Nigeria, "Naija." Madam re-branding, what's that got to do with moving forward? Kettle calling the pot black, is her own name not Dorothy? How does that add any value to our lives, I ask? Naija, what a comical nation of good but cantankerous people.
    
Talking of moving forward and value, let me ask, what's the most valuable thing you own? What's that thing you cherish the most in your life? I bet the answer most people would give to that question is...my life! What else could be more valuable than your life? Rubies? Diamonds? Gold? Platinum? Nothing is more valuable than human life. The gift of life is most beautiful thing. Money can buy a lot of things but never human life. Nature has bestowed each and every one of us a lot of gifts and talents; to some it's their looks, to some others their I.Q, no matter what makes you stand out, the most valuable gift you have is the breath that exits out of your nostrils every moment. If looks were the most important thing in life where do we put our former farmer-president and the South African super model Alek Wek? Life is beautiful, don't take it lightly.


Permit me to ask, since this blog is not a beauty nor health forum, how much do you cherish your life? How much have you been taking care of yourself? What have you done for yourself lately? Bought a new car? Change of lifestyle or wardrobe? Just got married or renewed your marriage vows? All fantastic achievements but have you taken a moment to ask yourself the question, 'Am I taking good care of myself?' Prod your mind a little and you'll know you've no proper answer for that question. If you do have a good answer, I congratulate you for you're really ready to live life well. 


Now, having taken care of the tangibles (your car, your house, your business,) what about the intangibles? Specifically, what about your life?How are you taking care of the life that works for all these goodies you currently or want to enjoy? One fact of this short life is, living itself, the very life we live, is a big risk. Sadly, this is a fact we all run from. The longer we wait, the longer we let the days count and pass by without any form of protection, the riskier the life, the very existence we crave for, becomes. 


The truth be said, I think most of us are so enamoured by our lifestyles or the ones we're aspiring to live that we've become so selfish and forgot to think about tomorrow. We live by the day and pray to God to care of us, we misinterpret and misapply the gospel of our faiths. Most of the times, we want to pray good things into existence. Miracles still occur, ladies and gentlemen, but we still have a job to do. Remember, faith without works is dead! We want to have our cakes and eat it but life is not like that. Life could be cruel sometimes. The only way to be ready for tomorrow, for the inherent risk ahead, is to be prepared for it! What provision, are you making for tomorrow?


In times past, our fathers' time, we're made to believe it was okay to marry into a self-contained or even one-room apartment, have children and expect government to educate them in public schools and employ them when they graduate. If the children turn out intellectually gifted and exceptional, they get scholarships and life gets taken care of. The economy was kind enough to permit that kind of life. Whether you are there or not, 
someone will take care of the children, right? Well, for some folks that was what happened. That worked in the past when public schools could compete with their private counterparts, when government ministries, agencies and parastatals employed you the moment you applied and passed the requisite tests and interviews, and you even get a car for your troubles! The economy had not gone far down the road of insolvency, thievery and corruption. Our parents used to call those days, "the good old days." What do we have now? Total opposite of the way things you used to be. 


Let's not deceive ourselves, the academic, moral and economic realities have shifted grotesquely in this nation like they were hit by an earthquake measuring 50.50 on Public schools are a no-go area, the available alternative, the private schools cost a fortune. Forget about jobs after graduation, at least not from a government that is yet to provide power and fix roads. The costs of living? That's gone out the orbit since the gap-toothed one hit his "home-run" ages ago (don't ask me which one, Minna's not that far.) We're living in an economic cataclysm.


Wishes would not make the next Okocha, the next Soyinka, the next Fashola, money (coupled with nurture) would. Ask yourself, "Do I want to be the parent of the next champ or the next chump?" When do you intend to start, Lagos, when do you intend to start? Is it when your retirement is due in 5 years? When all the strength has just about deserted your loins? When you are about to turn grey and thinking about your annual unmissable medical check-up? Lagos, dear reader, the time is now! Take care of tomorrow today! Don't waste time! Get on top of the situation right now. With a workable savings strategy and a profitable yet reliable savings plan, you can run with it now. Remember the saying, "No pain, no gain." You won't like your son doing an interview on Crime Fighters in tattered clothing wearing battered look because you failed to provide for his future, would you? 


Start saving for that dream life today. Time is running out, don't waste it unless you're a blood relative of Zeus, Pluto, Mars, Sango, Oya and Ogun. They're the only ones with time in their hands. That viable savings plan is but a phone call away. The numbers to call are 07056989820 and 07033588160. Am Olumide Ogungbemi and I'm an insurance marketer with Standard Alliance Life Assurance Limited.

WHAT DO YOU HAVE TO DO TO BECOME A MILLIONAIRE

One of the biggest pop stars of the year 2010 is no doubt, Justin Bieber. It was some time late last year that he came out with the monster hit 'baby' The song connected with fans the world over because it describes aptly what most of us (normal folks, that is) experienced when we're 14 or thereabout, our very first encounter with infatuation and the awakening of our hormones. First hug, first kiss, first girlfriend, first love, first everything. Justin Bieber found a fan in everyone, even those that disliked him for being friends with Kim 'the remarkable-and-outstandingly-bodacious' Kardashian (what's up with that lady anyway?) It came as no surprise at the MTV awards 2010, when he upstaged the 'rejuuvenated and returnee' Eminem and Kanye 'Imma-let-you-finish-but' West, for the Male Artiste of the year.

If anything is in doubt it's not Bieber's talent. What we're celebrating about Mr Popstar 2.0 did not start last year though. It started years ago when his mom began posting videos of the much younger Bieber singing and playing the guitar on youTube. Many youTube posts and years later, some record executive snapped him up and the rest as they say is history.

What about back home in Naija? Did you think Uti winning BBA's prize money was overnight success? Abeg, abeg, abeg...It took Uti 2 seasons of being in Big Brother's house in the least, not counting his years of getting ready. Listen people, there's nothing like overnight success! Nobody went from zero to hero overnight. It takes years of hardwork, dedication, preparation and some luck. Ask P-Square, the harmonica-blowing 'Koko' master; D 'banj, the short black dude with the big black glass; M.I, luck alone wouldn't do it. They got to where they are because they were prepared to be lucky. My question to you, Lagos, dear reader of my blog is, what are you still waiting for? I'm not so good with cliches but I know one that goes something like, 'Do not do tomorrow, that you can do today.'

Let me ask you, Mr, Miss or Mrs. reader, what do you have to do to be a millionaire? Have you ever asked yourself that question before...What do I have to do to be a millionaire? Is it to run the marathon? Hang out in the bushes in some 'search' for someone's lost gold? Or is it to start a small business or multi-million naira business? The business option is more like it, that's the most practical approach, the only snag being you don't have the money. Loan? Why, yes but don't think about that option if you don't have collateral. So what on earth can a young, ambitous hardworking and "honest" Lagosian do to become a millionaire? Any ideas anyone...

No matter how you look at it and how you go about it, the most practical way to be a millionaire and remain one is to save your way to your millions. Shikena! Nothing more to it than that. You have to save your way to the top. When you invest well in some business venture and you arrive at a windfall, what do you do with your profit? You'd keep some while you think about where to go next, you don't go on a trip round the world next, you take time to think and plan, right? Which brings me to the next question, Do you have a financial plan? Have you heard of savings plan? What do you know about life assurance policy? Nothing? Zilch? Diddly squat? (that one's according to Mick McCarthy, the Wolves coach after losing 'galantly' 2-1 at Old Trafford...did I hear someone say "Up Man-Yoo!"...see beef.)

Lets get serious, Lagos, how many of us think we can become millionaires overnight? How many people became millionaires after the many 'millionaires' promos of the the telecomms sector? How many became millionaires after guzzling much more than desired litres of alcohol from this or that bottle, following promises of El Dorado that awaited beneath the crown cork of your favourite and not so favourite brand of beer? How many packets of seasoning do you have to buy to win 1 million naira? Your guess is as good as mine...we'll just never know.

For you to become a millionaire, you have to make your money work for you. It's like planting a crop. You first till the ground, drop the seed, walk away and voila! The ground explodes with bountiful harvest? No! It's not that easy. You till, you plant, you water, you watch, after some time your crop matures, then you harvest. It takes some work people. Much the same way money works. Banks are relevant, saving there is essential like breathing air but for the long term, your mind should be directed where your savings would earn you much more. Banks are doing a great jobs here but there are some financial services that are just out of their league (no pun intended, I'm not dissing anyone, I've several savings accounts myself.)

For you to become a millionaire, Lagos, first you need financial advice. What do I invest? Where do you I invest? For how long would I invest and for what return on investment? I bet we remember the age-old saying, "Little drops of water, makes a mighty ocean." Unless one's parents are money bags (and I'm talking about the really wealthy ones whose money could last like 20 lifetimes) becoming a millionaire on one's hard-earned naira

Permit me to reveal something now, take this to heart and you can take it to the bank (literarily and actually.) Your life assurance policy can make you a millionaire! This is the class of insurance in which you have a guarantee of your money coming back to you. All premiums paid on a life assurance policy are sure to return to the owner with value! All it takes is time. And that depends on whether one buys a short. medium or long term plan. Every good thing takes time in coming to fruition. Ask those who know, ask those who have experience, ask those who have arrived at their financial destination and they will tell you...It wasn't easy.

Let me bust a very common insurance myth, Lagos. Rumours have it that some poor unfortunate folks paid premiums to their insurance companies and when it was maturity time, they were cheated of their hard-earned money and told 'Mungo Park' stories. The answer to that is they were swindled from the very beginning. That insurance agent was defrauding them from day one. Fake receipts, fake reports, fake statements of account abound everywhere. The conman had no conscience, not the slightest compunction at all with giving his clients false information all in an effort to spirit their money away. The unfortunate experience has made many a victim and their family and friends determine never to purchase or allow anyone they know purchase an insurance policy.

My take on that is simple...Cutting off the nose to spite the face! Would you chop off your head off if you contracted lice from your last trip from the village? Ask these people if they stopped patronizing the banks after several 'failed bank' sagas? Can we count the number failed banks and billions of naira we've lost in Lagos? Why didn't we start keeping money in shoe boxes and piggy banks (kolo)? Let's be realistic people, how many failed insurance companies can we mention? If we put bad experiences into consideration, how many would want to marry at all after several episodes of failed romance? How many married their first love or if single, how many Lagos boys stopped toasting when their girlfriends called it quits? Bitter experience or not, life must go on.

In every 12, there's always a Judas, right? In today's Nigerian insurance industry, that Judas would find himself cooling his heels in Alagbon close faster than he can say his name. The insurance industry has re-capitalized, we've re-positioned for the challenges ahead. The question now should be, do I know an insurance company to handle my savings plan? Do I know any insurance marketer out there? The purpose of this blog is to reach out to people and educate them where we (insurance marketers, that is) need to. I am convinced of one thing, that in the nearest future people would realize the usefulness of the insurance industry and the onus of doing that job would fall upon individuals like myself. The need to portray the insurance industry in good light is one of my responsibilities and I'm doing it with conviction because I've seen enough facts and figures to convince myself that the road to being a millionaire might be a long one but I can get there in due time with a solid contingency plan that can at the same time act as my savings account with extra benefits. My name is Olumide Ogungbemi and I'm an insurance marketer with Standard Alliance Life Assurance Limited.

For more information on our products and services, I can be reached on 07033588160 and 07056989820.

Don't Be Afraid to Dream

"Great things come in small packages." so goes the popular saying. Great heights, great achievements, are built on dreams. Civilizations, empires, nations, cities are built on the dreams of great men and women. You can ask people who dared to dream, people who switch off from the normal way of thinking, the frequencies of cognition of normal men, and they will tell you, "If you can visualize it, you can see it. If you can dream it, you can achieve it." The list of dreamers is endless; Alexander the Great, Julius Caesar, the founding fathers of the United States of America (the American Revolutionists), Abraham Lincoln, Dr Martin Luther King Jr, to mention a few.

Moving on to the realm of financial dreamers, one of my personal favourites, Mr Conrad Hilton. Conrad Nicholson Hilton. What a dream and what a dreamer. Conrad Hilton started one of the world's biggest hotel chains from where? Take a wild guess folks...(wait, don't go running to search just yet,) let me help you a little...

•  He took a big-time loan from HSBC.
•  He cashed in on his inheritance from his dad, the Empire State Building, which he sold for a lot of          money and started his hotel chains with.
• He got funds from the Illuminati, an organization which his grandfather was a grand patron.
•  He blackmailed the Queen into funding his business because he was once the Queen's sister's lover and had lurid pictures of them in compromising positions.

And the answer is Option....None! Actually, he started his hotels dream from his family house! Originally his father's idea when economic downturn hit his family bad, Augustus 'Gus' Hilton added extra rooms to the family house and turned it into a boardinghouse, Gus made his sons (out of whom Conrad was the first) pick people coming to their hometown of San Antonio at the bus station and lodged them in their boardinghouse for $2.50 a day. This was Hilton's first introduction to the hotel business. While working with his father, Conrad saved as much as he could because he didn't enjoy the monotony of Gus running the business.

Much later in life when he found himself in Texas trying to make a name for himself by trying to buy a bank (how ambitious of a guy that didn't even have a college education to his name at the time), he hit on the idea of starting his hotel when he saw the opportunity in the hotel business outweighs that of his banking dreams, while resting in the lobby of the Mobley hotel in the process of trying to get a room. He bought the Mobley hotel instead of the bank and renovated immediately and the course of his life changed for ever. He added what turned out later to be value-added services to his hotel and what do have years later? 500 hotels in nearly every corner of the planet...and his celebrity great-grand daughter smoking the herb, releasing a wack music album, making an even wacker (or is it wackier?) sex video, and making good ole Conrad turn in his grave. Paris Hilton is not shocking anymore folks, the world is used to and bored of her mad antics and attention-seeking way of life.

As far as dreams are concerned, all dreamers have one common problem...money. Funding any dream is the biggest headache folks. In order to do this you might have to dig into your savings account and that, ladies and gents, is the crux of the matter. Allow me to ask, Lagos, "Do you have a savings account?" I see several heads nodding, many of us can't count the number of savings account we have with numerous banks with the digits of both hands. Savings account, are you kidding? We have many. Really?...Ok, Lagos, how many of us have that wonderful card given to one and all upon opening a bank account? You know that plastic card with the magnetic strip or chip called the Any Time Money card. Yes! Your good old ATM card. Is your ATM card allowing you to save money?

As far as real savings is concerned, which by and large is connected to the fulfilment of dreams, ATM cards and the conventional savings account cannot help bring dreams to reality. Reason being you're just one zip! and PIN code away from a withdrawal. You cannot achieve capital building or fund raising this way. In January, you have 750,000 naira in your account, zip! zip! zip! you're down to 500,000 maybe even 250,000 naira. I know it's all for legitimate reasons, but have you taken time to think about tomorrow? Have you thought about saving for your dreams?

How do you start saving? There are several ways of achieving this which I won't try boring you with right now (besides we treated that earlier, in case you've not seen my previous blogs may I suggest you go through my blog archive.) The question is, "How do I save if I don't have much and I'm determined to try?" Remember, folks, the journey of a thousand miles begins with a step. Lets start with the basics, a savings strategy (if I can call it that, don't have a name for it. yet) How many of us have heard of the 30-30-30-10 or 3:3:3:1 strategy? It works this way...

• Divide your income into 10 parts or ratios.
• 1 part or 10% goes to tithing. (for folks who are religious and BELIEVE in God, the real God and not a "higher power".)
• 3 parts or 30% go to everyday, sundry life like paying bills, food, shelter, clothing, transportation, overhead and other things.
• the last 3 parts or 30% go into savings; and savings in this case refer to financial security or protection which insurance offers. What you could keep for tomorrow, not the immediate next-day tomorrow or next month but the days far ahead, the days to come.

The 3:3:3:1 savings strategy is very practicable, very possible even in present day Nigeria. One just has to be determined and ready to make sacrifices. The strategy can be modified as the individual deems fit. The thought in the minds of many a Lagosian is "But I hardly make enough money as things are." My take on that is very simple...Start by living within your means. Don't bite more than you can chew.

• Don't go shopping at Mega Plaza where Alaba can serve your present needs. 
• Don't fill your closet with T.M Lewins when you can manage other brands. 
• Don't take "that girl" to the Palms, shopping till she dropped and return home to a bowl of garri and 'kulikuli' (you'd be lucky even if you can afford that after some babe's reckless shopaholism.)

Good things take time in coming folks. Rome was not built in a day. You might not start cashing upon you insurance policy the day you buy it but it will mature one day, be it 5 years, 7 years, maybe even 10 years. One thing is certain, the policy will reach maturity and what do you get? Your savings plus interests (guaranteed at attractive rates that banks can't dream of matching now) and no hidden or administrative charges will be removed from your funds. An insurance policy is a viable savings/investment plan, you can ask people you know running one and they will tell you. Telling you that is my job and that's why you should contact me.

One of my dreams is to have my kids call me while I'm on vacation in Monaco or the Maldives and bicker about who'll give me the biggest 60th birthday anniversary if he/she hosts the bash. That comes after I must have saved enough to put them through good schools and given them good advice. I've taken the first step by starting a savings plan that will lead to a win-win situation between my insurance company and me. What's that giant dream you're carrying in your mind all these years? Be brave, be gutsy, be determined and like Conrad Hilton, save your way to your dreams. My name is Olumide Ogungbemi, my numbers are 07033588160 and 07056989820, and I'm an insurance marketer with Standard Alliance Life Assurance Limited.

the rookie blogger: What Do You Expect of An Insurance Marketer

the rookie blogger: What Do You Expect of An Insurance Marketer: "What Do You Expect of An Insurance Marketer Some persons with political clout are trying to prevent people wearing WWE merchandise (T-shi..."

What Do You Expect of An Insurance Marketer

What Do You Expect of An Insurance Marketer

Some persons with political clout are trying to prevent people wearing WWE merchandise (T-shirts, headbands, sweatbands and the likes) from exercising their right to vote in the state of Connecticut, USA. What sort of politician is scared of Wrestling fans and folks? Regardless of their political ideologies or leanings, why and who are they afraid of anyway? They had better be wary of the NEXUS though, those guys who 'bumrush' and ambush anybody, I mean, they would literarily 'whup' any politician; trash 'em bad! Google the NEXUS folks, the results would scare you. Enough of the 'ad' for wrestling, let's come back home.

The EFCC is trying to prevent persons who have 'allegedly' dipped their hands in the public till from exercising their 'God-given' rights to be voted for. These blacklisted individuals (who happen to be past governors mostly) swung into action straight. They got court injunctions (wonder what those mean these days since anyone can't get one for the slightest reasons) and 'big mummy' in glasses to denounce putting up such a list in the first place. Now, people, this is where the law is the proverbial 'donkey' (trying to be polite, this after all is a business blog.) Innocent until proven guilty, right, Lagos? Tune in to NTA news for that, to me, personally,
it's sad news when the has to take its course in the favour of the EFCC blacklisted politicians. Forgive the sad and boring digression, Lagos.

Why are Lagosians afraid of purchasing insurance? Seriously, why are we afraid of buying into insurance right now? Unfortunately, it's the level of professionalism portrayed on the part of us, the insurance marketers! I'm not talking about all of us (please take it easy guys, read on) but some of us. Most people are afraid of the guys who knock their doors and ask for their cash, cheques and signatures on their forms. Lagosians, in fact, I'm talking about Nigerians in general, are afraid of us insurance marketers, financial and investment planners and whatever names we call ourselves these days. Buy, why? Why, Lagos, why?

How many of us, insurance marketers, are credible? How many of us are trustworthy? Stories abound out there of how many a young, dashing, sweet-talking insurance marketer worm his way into the heart of an unsuspecting prospective buyer or investor, fill the form and 'bolt' with the cash! Oh! I'm lying? In the course of prospecting, I've heard countless accounts of how people have been swindled of their hard-earned money by these fraudulent guys. Ask yourself, Mr marketer, how many times have your objections taken the shape of prospects expressing their fear of being swindled and their investment being intact? Take a minute, make that two minutes...there you go, you've lost count. The question is, how does the prospective buyer know a credible, trustworthy insurance marketer when he meets one? Is it by manner of speech, sight or composure? How do you tell that sleek-talking, handsome/beautiful marketer is not out to take your money and dash off?

It will be a rather exhausting exercise (and boring too) to lecture anyone about credibility and trustworthiness, that's what parents and religions teach (my pastor will be proud if I decide to take the issue up though, besides people have read countless books and articles about that and I don't want anyone yawning to my blogs) What should the prospective buyer have at the back of his mind when he/she meets an insurance marketer? What areas of credibility should that person possess?

As an insurance marketer, ladies and gentlemen, after putting on your good looks, well-coiffed hair or close shaven head, that charcoal black suit, the strong but gentle-and-kind on-the-nostrils powerful perfume (or perfumes, depending on what you like,) the black shoes polished to military precision (or high-heeled Jimmy Choos for the ladies), the 'swag' aka confidence (you definitely can't leave home without the swag,) don't leave these qualities behind in the house if you want to be seen as credible

1.   Competence
2.   Expertise
3.   Character
4.   Personal integrity
5.   Trustworthiness

There are many others but these qualities mentioned above would serve you quite well.

As an insurance marketer, one's competence would prepare you for a lot. With competence you're putting the 'right' forward all the time. Competence would portray the right individual as
 -   Being experienced
 -   Informed about his business and other things as well
 -   Qualified to handle his business
 -   Skilled (armed with the knowledge, ability and training to perform the activity)
 -   Intelligent

When I started out in the business of insurance prospecting, I was always scared of sounding right, like Clark Kent. I'd always rehearse my speeches and run through all the routines in training because at the beginning I knew nothing about the business. Thank god, now I'm on top of the situation like a cowboy at a rodeo on a bronco...like hanging on to a speeding bus like a Lagos bus conductor! No falling off that horse, yee-aah! Competence does that for you, it supplies a good dose of confidence.

With expertise, one would be able to gather information that will be useful in delivering in his business, no matter how rough things getting you'll ride the storm to Graceland. You don't have to sound right, you have rightness living inside of you, you're not Clark 'clueless' Kent anymore, you're superman. If you don't have
expertise today, get it, go to bed as Clark and wake up as Superman and don't wear the clumsy glasses and goofy attitude anymore.

Now with character, that's every one's Kryptonite. Examine yourself, take time and look at yourself and ask the question, "What are my strengths and weaknesses?" Take stock and learn to project yourself on the basis of your strengths not your weaknesses, build on your strengths, never your weaknesses. There's no reversal to that rule! Don't let your weaknesses do a Jekyll and Hyde on you, always be in control of your weaknesses ( and emotions.) Character matters a lot to prospective buyers, hone and sharpen yourselves people. People without character are unreliable, if you don't stand up for something, you'll fall for anything. Character won't make you fall for anything. Go on prospecting with good character, you won't go wrong and if they say no...well, make sure you don't leave your pen in the prospects chest...(control yourself and go away with pride.)

Personal integrity slightly interwoven with character, let's look at P.I as that quality that stands you out.  Personal Integrity defines who you are when nobody is looking. As a kid, it was street smart to go in groups of three or four to buy sweets from the mallam's counter right? How many of us didn't sneak wafer bars, sweets and bubble gum while mallam was attending to Junior and Segun's orders? Is it because you can't, that you'll get caught or you're just plain scared or sissy or you're too much for such childish ploy? How many of us, Lagos, return the change when the bus conductor overpays us? Did you do it because of the scowl on the next guy's face or that lady you don't even fancy in the first place or you just don't feel right with cheating other people? That's what personal integrity adds to you as a business person, you won't lie, you won't cheat, you won't steal, even when you have the chance to do it and be away a million years before anyone would notice. Whatever is wrong won't stick with you even if you'd get away with it. You know I'm not trying to be sanctimonious, Lagos, there are people out there who feel what I'm saying about personal integrity.

What does trustworthiness do to you as a business person? It just backs you up! It should radiate out in your speeches, it should ooze out like your swag. You won't sweeten any deal with what you or your company cannot deliver. You wouldn't tell prospective buyers they can pull out of a five year contract anytime they feel like even next year if they feel like. Trustworthiness makes you walk the line, when you make a promise or condition, you deliver not matter what. Why are we having problems in the financial industry? Because some people can't be honest, that's all! The deals are too sweet to turn down, ethics fly out the window and conscience, God...the Big guy understands how much you need this one he won't hit you with the
thunderbolt, he'll take a chill pill while you're cooking the filthy schemes! Lord have mercy! May the good Lord have mercy...

As an insurance marketer or as an individual in any sphere of life, I don't want to end up like Mr Maddoff, he siphoned $65 billion and would spend the next 150 years in jail! I wouldn't survive 1 day of house arrest, let alone 18 months concurring for mis-appropriating 191 billion like madam...When I go out to do my job, I do the best I can, that's all. When next you go out for business, to build your credibility, do the following

- Stress your knowledge in the business and experience
- Be a fluid communicator
- Pick up your speaking pace (that's one of the things swag'll do for you)
- Be likable
- Use humour...carefully

You don't want to define mixed feelings as "Watching your most disliked mother in-law reverse into the path of a speeding trailer on Ikorodu road...in your just newly bought customized Rolls Royce Phantom." to a happily married prospect.

 Have fun, Lagos and don't forget to call or text a credible and trustworthy insurance marketer, Olumide Ogungbemi on 07033588160 and 07056989820 for all you need to know about life assurance policies and
products in Lagos, Nigeria.

Let's Talk About Life Assurance...

Listening to some Lagosians talk about the insurance sector of the financial services industry is like watching Ripley's believe it or not. Lagos, could we be that clueless about something so essential? In advanced economies the world over, the Europes and the U.S of As of this world, there are some services and even some sports you can't take part in if you're not insured. Oh! You think am making this up, go try bungee jumping or para skiing without insurance...that'll happen when hell freezes over and pigs skate. Seriously, let's talk about why you need an insurance policy.

The insurance arm of the financial industry is in the business of providing financial protection for property, life, health, etc against specified contigencies such as death, loss or damage. This involves the payment of specific sums of money (premiums) in return for guaranteeing such protection. In plain English, it involves setting money aside for the purpose of providing protection on the things we love or cherish, so if something happens we'll be able to replace what we lost.

I'm not going to bore you with the classes of insurance, with all due respect that's google's job (I find some people agreeing with me on that one.) Let's take a look at life assurance (ladies and gentlemen that's why am putting this up in the first place). Life assurace in plain terms, involves payment of premiums for the protection of one's life, in the event of the insured losing his/her life, provision can be made for the dependents based upon the insured's accumulated savings. Interesting isn't it? I mean, you do all that work and saviings just to provide for your family, right? Wrong! the benefits that life assurance offers is much more than paying compensation to the insured's family. Let's examine why life assurance is different from all forms of insurance and other financial products and services.


Differences between life assurance and other financial services.
1.   Life assurace encourages you to embark on compulsory savings culture.
2.   Life assurance guarantees you regular income by way of interest i.e. compound interest.
3.   As a secured investment, it is usually a way of compelling you to save for 'rainy days' as against most other investment portfolios that can
      be accessed at will.
4.   Because it is a future financial security option, it's the answer to the fear of the unknown future.
5.   Installment method payment makes it covenient for you as against as against other financial products that require lump sum or large deposits.
6.   It's financial security for your beneficiaries in the event of death as it's not prone to high risks resulting from business failures or fraud.
7.   The payment of compensation at the event of death of the insured aka sum assured, irrespective of how short the policy is in existence and how        small the premium paid.
8.   This to me is the best one, you can insure your life with more than one insurance company! Try that with your house or some other property and       you won't find anyone covering unless they don't know about it.  

I know some of my readers are saying "Look at this guy go, yakking and blabbing as if being insured is accepting the gospel of Christ." Well, ladies and gentlemen, we can never be too sure about life. You see, life throw some wicked curve balls at us in the game of life, we can't be too sure about the state of our investments some times. Circa 2008, before the worldwide stock crash, many Lagosians were millionaires courtesy of their investment in the shares of companies they've always trusted. What happened after the stock bust? Many Lagosians were reduced to tears, especially the young and upcoming believers in stock and shares, the watched their money plummet with their shares.

Let's not forget, Lagos, I'm not just talking about insurance generally here, I'm talking about life assurance specifically. The class of insurance that acts like your savings account with much more benefits, your real savings account! Lagosians, ask those you know around you that have life assurance policies during the the stock bust of 2008 and they would tell you their investments are, like Baba Presido used to say, "Dey Kampe."  Nothing happened to their investments but what their insurers told them would happen;

- Guaranteed value
- Return on investment
- Steady growth of investment (their monies grew in leaps and bounds because of the a beautiful feature in life assurance named, Compound     Interest.)

The fear of many of us is that you can't access your investment in life assurance until the event of death. Let me tell you emphatically now, Lagos, "YOU DON'T HAVE TO DIE TO REAP YOUR INVESTMENT IN LIFE ASSURANCE!" Life assurance policies are flexible with termination dates that can be chosen by the insured; you could agree to a 15-year policy and decide to terminate in 8 years, you could in the middle of the tenor or term or duration of the policy decide to partially withdraw on the investment and a host of other features and benefits.

Let me tell you the story of what transpired between me and a customer that demonstrates life assurace policy acting as a savings account. This story might turn out to be a bit verbose but permit me to tell it as it is a good testimonial of a good product and a good company. I went into the office of this customer of my company's (Standard Alliance Life Assurance) one day to ask her to start a policy with us. Unknown to me, however, she's already running a 15-year policy with us. Back in 2001, she started the policy with a young man (who today is a manager in one of the leading companies in the insurance business in Nigeria) when she was in public service. She's had several insurance marketers and agents in the course of the 8 years she paid her premiums to the company. On getting to dealing with me, she decided to terminate her policy!

"What?" I exclaimed, "You're 8 years into the policy already ma, just 7 more years and you'll get your money back." She replied and said "If your company's credible and trustworthy, you'd terminate this policy for me, have I not tried? Am Already more than halfway into the policy and now I want my money back!"


My heart sank in my chest as I walked out of her office with her letter of termination in my folder, I told the story to my boss with pain in my heart as I submittted the letter stating the customer's intention (thinking of it now, it turned out be an opportunity for me to test my company's credibility, to find an answer to the question "Do we really pay claims and how quickly do we do it?").

Some weeks after, the policy was terminated and her cheque was sent from the company's headquarters to my office. Lagos, you can imagine her joy when she recieved her cheque, right there and she wrote another cheque wanting to start another policy with us!

If you think I made the story up, call me on 07033588160 and 07056989820 and I'll come over and show you the photocopies of all the documents backing the transaction; statement of account, the cheque terminating the previous policy and the cheque she started her new policy with. Need I say more, Lagos? Have a blessed and fantastic week ahead.



 

My First Business Blog

Wow! This officially is my first blog. It's a very scary thing for a rookie but I'm going to be inspired by Justin Bieber's Never Say Never lyrics
I never thought that I could walk through fire,
I never thought that I could take the burn,
I never had the strength to take it higher,
until I reached the point of no return,
but there's just no turning back when your heart's under attack,
gotta give everything I have, cuz it's my destiny...

So goes that very inspiring song by a young man that's liked and disliked in the same breath due to God-knows-what reasons over in the U.S of A. But I digress, let me get back to this presentation. Why would anyone lose sleep over this social media and blogging thing anyway? The answer to that could be many but to me, it's just fear! 'What if nobody sees the blog?' 'What if they see it and don't like it?' 'What if they like it and still don't do anything?' Too many what-ifs, the worst of which could be; 'What if I don't try at all...'

This rookie's post is meant to address a major issue, a major financial issue which is the aim of this blog in the first place (others can come much later.) I happen to work in the Nigerian financial industry, the Insurance sector to be exact. I'm with Standard Alliance Life Assurance Limited, Ikeja, a time-tested Insurance company and part of the Standard Alliance Insurance Group that's been in existence since October 1989, with a capital base of well over 200 billion naira. My company profile and other information can be obtained from http//www.salifeng.com.

I'm sure unless the reader is lying; nobody takes kindly to this kind of financial service. People don't even want to hear us, let alone listen to what we're offering (that is gist for another day.) 9 out of 10 persons I meet and talk to in Lagos, Nigeria would tell me, "I've no need for insurance." Most would say, "Can we believe in your service?" Let's not forget the commonest objection or excuse, "God is my insurance." I simply wonder if the parable of the 10 virgins of which we had 5 wise ones and 5 foolish ones, is not in the version of their bibles.

Lagos, Nigeria, let's not patronize ourselves, just because we lack information about the insurance sector doesn't mean the service is useless or fraudulent. Look at the banks and the Micro-finance banks and shiver! This ex-CEO forfeits xxxbillion naira and bags xx months' sentence and the other ex-CEOs are lining up to take plea bargain from EFCC. May this cup pass us over in my sector but for the time being not one insurance company's CEO is in the docks yet! Praise God! I'm not in anyway trying to be funny or disparage anyone's services but making a very solid and valid case for the Insurance industry! Lagos, Nigeria, you need us! Dwelling on that too long is only going to sound like a broken record. In due time, I'll be sharing with people, facts and figures and testimonials (my own experience in the industry, of course) of very satisfied customers of my company's services.

Let's address the issue of saving, which originally is what this post is all about. Yes! Why do you need to save? A primary and not difficult need for everyone yet very tasking to achieve if we look at the financial burden we have to carry or the financial environment provided by our ever-fumbling and wobbling banks and other financial institutions. We shall address the need to save first and other things later. Ladies and gentlemen, why do you need to save money?

People must save, so that they can have something to fall back on in future. There is need for people to save, to enable them to move to the next level. You may be asking yourself “Why is there so much pressure to save money?” if you have enough to pay for everything you need, why should you worry about putting any aside each month?

Different people save money for different reasons
1.  Emergency fund to cover unexpected expenses
     These could be an unexpected car repair, emergency appendectomy etc.
2.  Retirement
     The sooner you start saving for your retirement, the less you will have to save in the future.
3.  Down payment for a house or building project
     Much like retirement plans, the earlier this is started the better, you’ll have a lighter burden much later in     the future.
4.  Sinking funds
     Money set aside for future repairs or improvements in your possessions or lifestyle.
5. Children’s education
     Especially for the employed single, the ultimate destination is marriage after which you start raising children.   The earlier you plan for them the better for you.
     The way out is to starting thinking of financial planning, the solution lies in a savings plan. Think of the savings plan with maximum benefits.

Now, let's be practical with ourselves. So long as any individual is
  * 18 years old and above
  * Is employed or has a business he/she is running
  * Has dependents i.e. married with or without children (or intends to raise a family later in life if presently single)
  * Has a means, occupation or way of generating income, that person is qualified to purchase an insurance policy.

In my little experience in the business, I don't just sell insurance policies, I sell savings plans. Savings plans? Let me explain myself. The policies on offer in my company are designed to meet specific targets and needs. They have several benefits that allows for the insured or customer to have a need or target in mind and save money towards meeting that need, the moment the time your money is needed, the policy (which is designed to have flexible maturity date  in the first place) could be partially withdrawn or terminated outright. Like I said earlier, I have customers with pleasant testimonials about policy termination and prompt payment of claims and very satisfactory customer service.

Enough said already, in my subsequent posts I shall be sharing some of my company's policies and customer testimonials with photocopies of documents to substantiate my claims. Like I said at the beginning, this is my first business post and I'm not a professional writer nor journalist (at least not yet) nor an experienced blogger yet, so be kind enough to leave comments on how I can improve. And if you're resident in Lagos, Nigeria and you have issues concerning life insurance business, you can contact me, the rookie blogger, Olumide Ogungbemi, on 07056989820 and 07033588160.

Thank you and God bless you.

Am a rookie blogger...

What I would give to succeed selling insurance on social media and online in Lagos, Nigeria!

Am a rookie blogger alright (that's long overdue anyway) but am not new to selling life insurance. I just want to do it different from the way others sell insurance. Blogging's no big deal, well, I sure hope insurance blogging's a big deal and hope it moves me to the next level. 

Am also going to be blogging about life in Lagos, music, sports, movies, writing, photography and am open to fresh ideas.

Better late than never, they say, well, Mynder the rookie insurance blogger from Lagos, Nigeria is here to stay (just hope somebody finds me interesting out there).