YOU CAN CREATE WEALTH AS AN ENTREPRENEUR IF YOU CAN DO THESE THREE THINGS

Today I will be sharing with you a topic that interests most of us (or all of us)… how to make money.

 

To start with, what is money?

 

I know, that question sounds stupid. Since you are not a baby, of course you know the definition of money and what money is. Your teacher in primary or secondary school must have taught you that money is a medium of exchange of goods and services (or something similar).

 

Now, listen to my definition of money … money is the reward we get for offering value and making the world a better place.

 

If we see money in the light of my above definition, we will have a better approach for creating wealth.

 

To create wealth, you have to understand that your primary task is to offer the world around you (your street, your city, your country, your village) some value. Riches are only a reward, not a goal.

 

Let me explain with an illustration I love very much.

 

Because our families needed eggs and some chickens to slaughter at Christmas, they would start rearing chicks. Though they really didn’t care about chicks, they would feed them, shelter them and care for them.

 

After some time, these chicks would grow up, become chickens and start laying eggs.

 

The rich people understand this principle better.

 

You too should understand it.

 

Creating wealth is about giving first, then getting rewarded later.

 

3 ways to make money

 

Let me quickly share with you three ways by which money can be made.

 

First, in some illegal ways. I know this is not for you. I am just writing this for both of us to understand this issue of money making very well.

 

You know people get money by stealing, people get money through political frauds, People get money through hard drugs and some other dirty things like selling fake products.

 

I dont need to tell you… those are odd and risky ways to get money and you wont become (truly) rich from any of the above ways.

 

What value is the money you get in exchange for your peace of mind?

 

It isnt worth it.

 

Another way you can get some money is by getting a job.

 

There was nothing bad in getting a job until recently when things started changing in the population and the economy of the world.

 

In the last 100 years for example, the whole worlds population was less than 2 billion. Most of the worlds population was in the rural areas and others who were in urban areas were having more companies calling them than they could work with. Remember there was no much technology, so most of the jobs were done by human beings.

 

Getting a job was interesting and that was the reason why school was the best place to be.

 

Now, things have changed so much.

 

The world’s population is now over 7 billion. Technologies are doing most jobs. Good jobs are now very (did I say very very?) scares, so job is no more a good way to create wealth.

 

Unfortunately, our universities, polytechnics and colleges are still busy teaching our young adults how to be employees.

 

To me, we are very stupid to continue teaching our children how to get jobs when we are all aware that there are no more good jobs. But am happy the government has introduced a new education system.

 

Lets continue.

 

After I have cleared out some dirty means of getting rich and I have explained the reason why getting a job cannot make you rich, then, the only dependable way to make money (especially in 21st century) is to be a business owner.

 

How to make money by being an entrepreneur?

 

Honestly, its not a very easy thing.

 

Ounch! I shouldnt have told you that. I am sorry. I should have told you, “You see, making money is very easy”. Isnt that what most people on the internet say these days? Yet, I mustnt tell you that. I have to tell you the truth.

 

Do I really mean that its not possible to be rich?

 

I know thats what some people will “hear”, though I never said that. Getting all the money you need for your life isnt an impossible dream, but it requires some know-how.

 

Making money as a business owner can be by producing a product, selling someone elses product, rendering a service or selling your talent (just as football players, movie artists and musicians are doing).

 

Whether you are selling your own product, another persons product, a service or your talent, you are an entrepreneur.

 

You can create wealth as an entrepreneur if you can do these three things:

 

1. If you can learn.

 

The number one problem in todays generation and economy is the lack of financial literacy. Most people who ask the question, how can I make money, really are not told where to start. Where to start is to be business minded.

 

I know, you have been “good job minded” all your life. Thats not your fault. Thats the fault of school. Now, you must become business minded. Open your mind to business. Think business. Talk business. Plan business and… read business.

 

When you are mindful of something, you will want it to be the number one thing in your thoughts and you will want to know about it… in and out… left and right… up and down. Believe me, if anyone asks me “what is the solution to the problem of poverty and unemployment in Africa?” my answer will be in two words… financial education (or business education).

 

The primary reason why there are more poor people in the world than rich people is because most people dont know how to be rich.

 

Read this quote and think about it… “There is a secret psychology of money. Most people dont know about it. Thats why most people never become successful” … T. Harv. Eker.

 

I know someone may have a question here… what if I want to sell my talent as a footballer, musician etc., do I still have to be financially literate? Yes. A musician who doesnt understand marketing and other business concepts may sing good songs, but he/she may not be able to sell one thousand copies of his/her work.

 

Many athletes have made millions of shillings and lost all because they really did not understand how to keep money growing.

 

If you are a writer who writes the best books, you will need business skills to sell your book and financial skill to keep that wealth growing.

 

Why are most people ignorant about wealth acquisition? Why is it that most people dont know that there are some skills to be acquired in order to be rich?

 

Because school never taught us how to make money and whatever school doesnt teach, most people dont know because they are not ready to learn outside what school teaches. The good news is, reading books about business is very interesting.

 

Business/financial books will not bore you like academic books… because they are always very practical and interesting. I started reading about business when I was around 17/18. I fell in love with business and motivational books to a point where I carried them everywhere I went (even up till now).

 

Back then, when I was in campus, I could read 30-50 books (about business, finance, leadership etc.) every year. Some of my friends would have advised me to avoid failing as a result of reading too many non-academic books, but they couldn`t (since I was the best student in my class).

 

My dear fellow Africans, will you believe me if I tell you the truth? Financial education is the place to start, if truly you want to acquire wealth and become rich.

 

What should you do? Where should you start from?

 

First, read everything we post in our PROFITABLE BUSINESS IDEAS Whatsapp Group. You will be wiser, smarter, and be on your way to be rich after reading all the business articles in our group. After all, they are free.

 

Second, attend some (If not all) our business trainings that we organize on Whatsapp.

 

Third, reach out and get some good financial and business books in a nearby bookstore or download them online at pdfdrive.com.

 

About 7 years ago I was reading a book by Brian Sher. Sher said, “The shortest cut to riches is financial education”. He is very right.

 

2. Be a doer.

 

When you start acquiring financial education, (almost instantly), your eyes will start opening to money-making business opportunities around you. You will start “seeing” gold you never saw before, all around you. When this starts happening, you have to be a doer, an actor, and a runner.

 

Entrepreneurs are actors.

 

They are not talkers.

 

You will be faced (or you are already being faced) with the temptation to start big or perfectly. Resist that temptation! Starting a business is rarely smooth.

 

When Sam Adeyemi (a Nigeria motivational speaker) said, “start where you are with what you have”, he was offering a great advice. Most people understand that the best way to acquire riches is to be an entrepreneur, yet they are still waiting, for what? For a perfect moment, great idea, huge capital

 

You have to be a doer, an actor, a runner.

 

You have got a business idea? Start it little, with all your heart and life. When you start, growing becomes easier. When you start, nature comes to your aid.

 

I came across a powerful quotation that inspired me about 8 years ago. Let me share it with you…

 

“Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it”… Johann Goethe

 

3. Cut failure away from your dictionary.

 

As an entrepreneur, your opinion about what people call failure must be different. For an average person, failure is when you attempt something and do not succeed at achieving your aim. Business people dont see that as failure.

 

Over the years I have been amazed by how “failures” led me to the higher ground.

 

Most times what you will see happening is that, you attempt something, you are hit by defeat (usually bitter and makes you cry). But that “failure” forces you to think in another direction (and of course, makes you smarter). Right at your new direction lies better success. Its not uncommon to see entrepreneurs who start an entirely different line of business getting wonderfully successful in a new field that “failure” forced them to.

 

I have experienced many “failures” in my entrepreneurial journey. Some of them made me wake up at night and cry, some of them made me to think I was stupid to be in business in the first place while all of them have made me a better person.

 

As someone who desires to make money, you have to cut out the word failure from your own dictionary. You have to see failure as a ladder which has to be climbed to the riches you desire.

 

Anthony Robbins in his book, Unlimited Power, encourages us to learn how to manage frustration. In his own view, the more frustrations you can cope with (and still continue pursuing your dream), the more wealth you will acquire.

 

Conclusion.

 

If truly you desire to be rich, your primary task is to think about the value you can sell, either as a product, a service or your talent. Any of this may require some hard work, commitment, practice and dedication, but you can be sure you will make money at the end of the rope.