Unleash Your Cupboard Capital
In 2005 my oldest son graduated from high school and my gift to him was to spend a few weeks in Europe. While there, I very purposefully enrolled in an economics course at the Graduate Institute in Geneva (IHEID). Kofi Annan, Secretary-General of the United Nations from 1997 – 2006, studied International Relations at the Graduate Institute so I was excited to study there also. The primary learning tool of this course was a book by economist Hernando Desoto called The Mystery of Capital. In the book, Hernando Desoto opines that all over the world there is “money in the cupboards” or “dead capital” and that the systems of many countries don’t allow this capital to be leveraged.
At the household level, our internal operating systems (our modus operandi or belief systems) likewise prevent us from leveraging the abundant value or capital within our own “cupboards”.
Hernando DeSoto’s macro concept applies to our individual (micro) lives. We have untapped capital in our cupboards! We have immense intrinsic value that’s not restricted to the form of the almighty dollar bill.
With this cupboard capital, we can acquire things that money absolutely can not buy. Cupboard capital can “buy” us autonomy, personal fulfillment, innovative ideas, witty inventions, creativity, and strong relationships.
The issue is, we are not taught how to leverage our “cupboard capital”!
It’s incumbent upon all of us to tap into professionals like Stacy Francis of Francis Financial, life coaches like Nesreen Mamoud of Harbor Light Coaching, and, most importantly, accountability partners. We must tap into our accountability partners (who may also be our professional advisors) to help us look into our own “cupboard capital” to help us figure out how we are going to buy ourselves into our dream lives.
We should all be living our magnificent dreams and not our beautiful nightmares (pigs with lipstick).
We Must Have Accountability Partners in Our Lives
I’ve been running my own business for over a decade and I don’t find myself talking much about work ethic anymore. Although work ethic is extremely important I now find myself talking about accountability. I have accountability partners that I can talk with about money, like Stacey Francis, other matrimonial lawyers, and my many friends.
The other day an accountability partner, who is also a female matrimonial lawyer, asked me point blank – “Mia, how much money are you going to make this year?”. What a question for someone to be able to ask you! My first, but fleeting thought was, “I can’t believe I’m being asked something as personal as how much money I make.”
Don’t be afraid of accountability and the sometimes uncomfortable questions that accountability brings. Also remember, we choose our accountability partners. And most importantly, what a great discussion this question (how much money will you make?) generates to help one uncover their “cupboard capital”.
When’s the last time you had an open conversation about money in pursuit of achieving your life goals?
Accountability partners allow you to talk about something we’ve been taught not to talk openly about. These accountability partners are critical to financial freedom, and living the life of our dreams.
Here are my four tips for finding and fostering a relationship with an accountability partner to leverage your “cupboard capital” in pursuit of your dreams.
4 Tips for Finding and Fostering a Relationship with an Accountability Partner
#1 Solidify their position in your life by inviting them to be your accountability partner. As the universe would have it, your accountability partner is probably already present in your life, because the universe is truly good. Work with someone you trust!
#2 Share your goals and dreams with your accountability partner.
#3 Meet regularly, and engage honestly.
#4 Don’t throw the baby out with the bathwater. Swallow the tough conversations and don’t throw away the relationship when you hear something that offends you.
Mia Poppe, Esq.