First of all I will like to say congrats to Nigeria for winning the African cup of nations... Now I must confess I didn't support them at all, didn't even believe in them but I guess I had to eat my words when we did a go job today.
Now back to our topic for today.... it baffles me that a country where almost 80% of the population live under a dollar, yet they able to survive, in the grassroots, the corner shops guys are able to survive everyday. I got into a discussion with the lady that usually comes to my house to clean, and we were just talking about everything. As we were talking I asked her if she was still selling recharge cards for phones, she said no and I asked why? in her own words:
Me: why did you stop selling the cards
Cleaner: because no gain
Me: are you serious?
Cleaner: yes aunty
Me: so what will you do now
Cleaner: I have a shed were I sell small small things like groundnut, garri, etc
Me: are you serious. And how much did you use to start it?
Cleaner: ten thousand Naira
Me: that's great. but do you make profits
Cleaner: yes I do, like when I buy a bucket of groundnut for seven hundred naira, by the time I sell it I make about #1,500 (naira) and groundnut and garri moves fast a lot.
Me: interesting
Cleaner: I want to start selling coke because it will bring more money
Me: that is very good.
After this talk with the lady it dawned on me that the money in Nigeria is not in the cooperate world, or in the banks, the money in Nigeria is on the streets. The equivalent of this lady, in America is the "mum and pop", stores.
Lessons learnt: if I behave like the cleaner with my money I will be able to have invested it in something small and be able to get at least #5,000 in my hands everyday.....
Note to self: we underestiamte the determination of a man who has decided to work hard.
Its time to go. Take care and have a lovely day.
Now back to our topic for today.... it baffles me that a country where almost 80% of the population live under a dollar, yet they able to survive, in the grassroots, the corner shops guys are able to survive everyday. I got into a discussion with the lady that usually comes to my house to clean, and we were just talking about everything. As we were talking I asked her if she was still selling recharge cards for phones, she said no and I asked why? in her own words:
Me: why did you stop selling the cards
Cleaner: because no gain
Me: are you serious?
Cleaner: yes aunty
Me: so what will you do now
Cleaner: I have a shed were I sell small small things like groundnut, garri, etc
Me: are you serious. And how much did you use to start it?
Cleaner: ten thousand Naira
Me: that's great. but do you make profits
Cleaner: yes I do, like when I buy a bucket of groundnut for seven hundred naira, by the time I sell it I make about #1,500 (naira) and groundnut and garri moves fast a lot.
Me: interesting
Cleaner: I want to start selling coke because it will bring more money
Me: that is very good.
After this talk with the lady it dawned on me that the money in Nigeria is not in the cooperate world, or in the banks, the money in Nigeria is on the streets. The equivalent of this lady, in America is the "mum and pop", stores.
Lessons learnt: if I behave like the cleaner with my money I will be able to have invested it in something small and be able to get at least #5,000 in my hands everyday.....
Note to self: we underestiamte the determination of a man who has decided to work hard.
Its time to go. Take care and have a lovely day.
Love the message. There is infac money in Nigeria. Most of it might be with thieves but there is still some out there. One need only sit properly and think am
ReplyDeleteVery true and to think that I wrote this message half asleep. Snored as soon as it got posted. Lol
DeleteTotally agree with you and also NoRe. Enterpreneurship does not have to be big money driven.
ReplyDeleteVery true I just wish our govt will encourage and protect them like the American govt does
DeleteThere's money everywhere in Nigeria,its jes to lookout and find the need to meet in one's zone.
ReplyDeleteLike you I never saw the Eagles winning the afcon. Congrats to them!
Thank you. Guess I have eaten my words about the Nigerian team
ReplyDeleteGreat post, Ibifiri. The entrepreneurs in Nigeria are not just seen in the boardrooms, they are in the street markets too.
ReplyDeleteReally in the streets. Heard one lagos island trader woman who couldn't speak English wanted to send her kids to Uni abroad when they told her that she will need some money saved she told them that she had a hundred million naira saved in the bank
DeleteMoney is plentiful for those who understand the simple laws which govern its acquisition. The good thing about these laws is that, it is impartial, so a poor man can be rich, and a rich man that violates these laws can become poor. These laws are blind to religion, race, tribe or any other thing.
ReplyDeleteDeride not what I say because of its simplicity. Truth is always simple. These are ancient truth that have stood the test of time for over 6000 years. Here are the simple laws:
ReplyDelete1. Save not less than 10% of your income, more if you can, for future investment.
2. Control your expenses, do not confuse necessary expenses with desire. Everyone has more desire than we can pay, so control and limit it, so you can be able to save.
3. Saving money is one thing, but when you have a sizable saving you should invest it so to increase in wealth. Put your savings to work, so it may produce its kind.
4. Protect your savings from loss, the first sound principle of investment and business is to make sure your capital is secure.
5. Strive to make your house a profitable investment. Own your own home, and save money from paying rent.
6. Think of money for your old age, make sure you secure income for your old age and your family.
7. One of the most important is to increase your ability to earn by continuous learning. Cultivate your powers, study and become wiser and more skillful. The more you know about you chosen field, the more you earn. Continuous learning is key.
This is a whole lecture and I am loving it. Saving this comment as I will use it for future use. In fact going to laterna today to buy "the richest man in Babylon" and I will read it all through again. Following the principles slowly. Thank you
ReplyDeleteIt's highly recommend, its a must read for anyone who truly wishes to be financially independent. The book is in the public domain so here is a link to the free eBook:
ReplyDeletehttp://thepdi.com/Richest%20Man%20in%20Babylon.pdf
You are most welcome.
Ti420 you are a darling
ReplyDeleteThank you ma'am. This is a better copy, the previous one was a shortened version.
ReplyDeletehttp://www.ccsales.com/the_richest_man_in_babylon.pdf
Where there are a lot of people, there's money to be made.
ReplyDeleteThe money markets in Naija are on the street, just that most of us are all with the idea of money is made in the boardroom.
ReplyDeleteThe opportiunity to make serious money in Nigeria is HUGE! Just count the millions existing and consider that they will all eat, drink water, wear clothes, move (transport), will need shelter...these are just basic needs o not to mention the luxury part of things...Nigeria is still a virgin territory where many needs are yet to be catered for. Think about that!
ReplyDelete