2 of 3 Series: Assets & Liabilities (Wealth Building)

by C. Henry Adams

According to Investopedia,  asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.  https://www.investopedia.com/terms/a/asset.asp

Furthermore, Investopedia define the term liability as a company's legal financial debts or obligations that arise during the course of business operations.  https://www.investopedia.com/terms/l/liability.asp

I recall hearing a very good,  Big Brother Mentor make a profound statement. He said,  " You are either an Asset to someone or a liability.  Once you become liable, your services are no longer useful. "   Dannie James, Sr.

Warning:  This statement could perhaps be interpret in multiple ways.  But, for the purpose of this blog, let's identify a company or organization as a whole being either an Asset or Liability.

Nevertheless, when one recalls the above quote; a flurry of thoughts trickle down within my mind.

These terms & phrases appear as such below:

• Ethics
• Ethical Practices
• Best Practices ( BP )
• Integrity
• Speaking or addressing an issue in a professional forthright tone
• Utilizing Tact
• Utilizing the three F's technique. ( Feel, Felt & Found)

Ethics & Ethical Practices is having knowledge of the right thing to do while being proactive to resolving incidents or situations to say the least.

An organization utilizing ' Best Practices '  ,whereas, regulations, rules, laws or guidelines are implemented regularly, should consider this a high priority.

Integrity should be attributed throughout a company's BP.  Perhaps, a Company's Spokesperson should always speak or address an issue in a professional forthright tone.

Often times, emotional circumstances could elicit behavior unbecoming; utilizing tact is imperative.

Finally, pro-activity helps prepare an establishment for the unexpected.  Utilizing the three F's technique ( Feel, Felt & Found) when conceivably available to resolve an issue; helps
builds business relationships.

Please understanding that wealth encompass many more things, then shared in these three (3) blogs:

• 1 of 3 Series:  Teaming Arrangement Strategy  (Wealth Building)
• 2 of 3 Series:  Assets & Liabilities (Wealth Building)
• 3 of 3 Series : A Wise Dividend Growth Investor (Wealth Building)

Thanks!


C. Henry Adams
Benefits Advisor
Aflac
977 Montreal Rd
Box 1089
Clarkston, Georgia 30021
bienminc@gmail.com
CHA Linkedin 
(404) 254-7187

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