Today I will be sharing with you a topic which 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`re not a baby, of course, you know the definition of money and what money is. Your Economics teacher in secondary school must have taught you that money is medium of exchange of good and services (or something similar).
But you see, no teacher (or lecturer) ever taught you how to make money. That`s one of the reasons why I hate school.
Now, listen to my definition of money … money is the reward we get for offering values and making the world a better place.
If we see money in the light of my above definition, we`ll 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) some values. Riches is only a reward, not a goal.
Let me explain with an illustration I love very much.
Because our fathers needed eggs and some chickens to slaughter at Christmas, they would start rearing chicks. Though they really don`t care about chicks, they would feed they, shelter them and care for them.
At the end of the day, these chicks would grow up, become chickens and start laying eggs.
The richest 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 or doing 419 (you understand that term if you`re a Nigerian).
I don`t need to tell you… those are odd and risky ways to get money and you won`t become (truly) rich from any of the above ways. What value is the money you get in exchange for your peace of mind?
It doesn`t worth it.
Another way you can get some money is by getting a job.
There was nothing bad in getting job until the last 100 years when things started to be changing in the population and the economy of the world.
In the last 90 years for example, the whole world`s population was less than 2 billion. Most of the world population are in the rural areas and the others in urban areas are having more companies calling them than they can work with. Remember there was no much technology, so most of the jobs are 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 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.
That`s why I hate school.
To me, we`re very stupid to continue teaching our children how to get job when we are all aware that there is no more good jobs.
About 2 million people are joining labour market each year from Nigeria alone, no job, and our use-less schools are still training children how to be employees.
You can`t understand how much I hate school!
(I wouldn`t want to waste your time on this topic about how school is a mess. Please, get our best-selling business course titled, 10 Secrets School Did Not Teach You about Business & How to Make Money. It`s 100% free. No email is required)
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 21 century) is to be a business owner.
How to make money by being an entrepreneur?
Honestly, it`s not a very easy thing.
Ounch! I shouldn`t have told you that. I`m sorry. I should have told you, “You see, making money is very easy”. Isn`t that what most people on the internet say these days? Yet, I mustn`t tell you that. I have to tell you the truth.
Do I really mean that it`s not possible to be rich?
I know that`s what some people will “hear”, though I never said that. Getting all the money you need for your life isn`t an impossible dream, but it requires some know-how.
Making money as a business owner can be by producing a product, selling someone else`s product, rendering a service or selling your talent (just as football players, movie artists and musicians are doing).
Whether you`re selling your own product, another person`s product, a service or your talent, you`re 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 today`s generation and economy is the lack of financial literacy”… Alan Greenspan. 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. That`s not your fault. That`s the fault of that prison call school. Now, you must become business minded. Open your mind to business. Think business. Talk business. Plan business and… read business.
When you`re mindful of something, you`ll want it to be the number one thing in your taught 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 don`t know how to be rich. Read this quote and think about it…
“There is a secret psychology of money. Most people don`t know about it. That`s 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 doesn`t understand marketing and other business concepts may sing good song, but he may not be able to sell one thousand copies of his work.
Many athletes have made millions of naira and lost all because they really did not understand how to keep money growing.
If you are a writer who writes the best poetry novel, you`ll 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 don`t know that there are some skills to acquired in order to be rich?
Because school never taught us how to make money (and whatever school doesn`t teach, most people don`t know). 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 go (even up till now).
Then when I was on campus, I would be reading 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 African, 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 on this website (you can find all our past tutorials here). You will be wiser, smarter, and be on your way to be rich after reading all the business tutorials on this website. After all, they are free.
Second, get our free business course (10 secrets school did not teach you about business and how to make money). This business course has changed many lives. We`ve being selling it since 2013, but now, we`re giving Africans for free.
Third, reach out and get some good financial and business books in a nearby bookstore. You should also check our wonderful business trainings and books here.
About 7 years ago I was reading a book by Brian Sher. Sher said, “The shortest cut to riches is financial education”. He`s 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 start happening, you have to be a doer, an actor, a runner.
Entrepreneurs are actors.
They`re not talkers.
You will be faced (or you`re 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`s offering a great advice. Most people understand that the best way to acquire riches is to be an entrepreneur, yet, they`re still waiting, for what? For a perfect moment, great idea, huge capital
You have to be a doer, an actor, a runner.
You`ve got a business idea? Start it little, with all your heart and life. When you start, growing become 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 don`t see that as failure.
Over the years I`ve been amazed by how “failures” led me to the higher ground.
Most times what you`ll see happening is that, you attempt something, you are hit by a 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 a better success. It`s not uncommon to see entrepreneurs who start an entirely different line of business getting wonderfully successful in a new field that “failure” forces 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 of frustrations you can cope with (and still continue pursuing your dream), the more wealth you will acquire.
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`ll make money at the end of the rope.
You may want to start a business and have no idea. Read this comprehensive tutorial about discovering business ideas
You may want to start a poultry business. Read this tutorial about poultry business
I love you.