Financial Independence is not an automatic achievement or fruit that you harvest when you start any business, invent a product or service.
It comes from hard work; it comes from solving a problem.
The reward of creating a service or a product in the area of your best interest that solves an existing problem could be a lasting business that pays your investment off at record time, have enough to take home, and even more to re-invest.
That’s financial Independence – when your investment starts working for you.
For you to start such a business, especially in the current recession that has almost frozen bank credits to $0 you need to be sure that you are solving a problem and that its eventual value is worth more than what you will be investing from your hard earned capital.
So for example, if you decide to start a Ranch in your village to produce milk and meat, ask yourself “Why will the buyers buy from me?” “Why will the departmental shops or the home butchers prefer my meat to others?”
What am I bringing to the table?
Dear friend, what problem are you solving?
To help you start thinking, I’ll give you a few problems that are common across several businesses.
- Quality – can you provide a better quality product or service?
- Time – Delay in goods receipt
- Quality customer service
- Additional information and education on product
- Easy return / refund service (be careful though)
- Good packaging
- Web based?
- Free delivery?
- Can you create a tool or service that will make a particular task easier?
- What do people on your street need so dearly?
- What are the businesses or tasks that people in your area or country hate to do…refuse collection? Guess what? There’s a lot of money in shit business!
Did I get you thinking right now?
There’s so much you can do, there are so many problems you can solve.
May be you don’t like the daycare your son or daughter attends, what’s wrong with it? May be you are called to solve that problem!
What do you always complaining about?
Think about these things.
Be Inspired!
Saturday, 25 April 2009
Thursday, 9 April 2009
Financial Independence and Entrepreneurship – part 1
Financial Independence and Entrepreneurship – part 1
The world economy has slummed in an unconceivable magnitude over the last 18 months. I thought it necessary to share my ideas on the power of an entrepreneur – Financial Independence!
Your understanding or perhaps, your definition of what financial independence means will go a long way to affect how you think and how you implement your business ideas and solutions.
I am not sure there is a right or wrong answer to this, however I think the current financial climate will convince you of your independence or otherwise.
Some have defined financial independence to mean being able to live your life – provide for your family, buy things you need, go on holiday etc without the need for credit.
Another definition from my dear wife was – the ability to afford anything you want or need at anytime without worrying about money.
What is your own definition?
Why? - Because it will affect how you work hard at creating and maintaining a profitable business.
As an entrepreneur, you own a business or an invention and you carry the risks of the business, which means that ultimately, you are responsible for either the success or failure of the business.
Not everyone will be or can be a successful entrepreneur, because lots of people are not ready to take sensible, calculated risks. If you design a product, create a service or start a trade and you have enough passion and skill to steer it to profitability, the reward you get, especially in this so called recession is financial independence!
What ever your definition of financial independence is, you can relax knowing fully well that your money is working for you.
I spend a lot of time thinking, planning and acquiring skills to start small businesses – especially web-based ones, and I realised that with hard work and faith in God you can live above the current recession by creating your own wealth!
Be Inspired! (C) Abolaji Lawal, 2009
The world economy has slummed in an unconceivable magnitude over the last 18 months. I thought it necessary to share my ideas on the power of an entrepreneur – Financial Independence!
Your understanding or perhaps, your definition of what financial independence means will go a long way to affect how you think and how you implement your business ideas and solutions.
I am not sure there is a right or wrong answer to this, however I think the current financial climate will convince you of your independence or otherwise.
Some have defined financial independence to mean being able to live your life – provide for your family, buy things you need, go on holiday etc without the need for credit.
Another definition from my dear wife was – the ability to afford anything you want or need at anytime without worrying about money.
What is your own definition?
Why? - Because it will affect how you work hard at creating and maintaining a profitable business.
As an entrepreneur, you own a business or an invention and you carry the risks of the business, which means that ultimately, you are responsible for either the success or failure of the business.
Not everyone will be or can be a successful entrepreneur, because lots of people are not ready to take sensible, calculated risks. If you design a product, create a service or start a trade and you have enough passion and skill to steer it to profitability, the reward you get, especially in this so called recession is financial independence!
What ever your definition of financial independence is, you can relax knowing fully well that your money is working for you.
I spend a lot of time thinking, planning and acquiring skills to start small businesses – especially web-based ones, and I realised that with hard work and faith in God you can live above the current recession by creating your own wealth!
Be Inspired! (C) Abolaji Lawal, 2009
Monday, 6 April 2009
The heart that God loves
The heart that God loves
May i encourage you today conerning the kind of people who impress God.
They are not necessarily perfect people, they are not people with a "holier than thou" attitude.
They are people with genuine hearts.
People with a broken and contrite hearts
....Willing to accept God's wil
l...Will to repent when wrong
...Willing to submit all to the Lord
Be Inspired!
May i encourage you today conerning the kind of people who impress God.
They are not necessarily perfect people, they are not people with a "holier than thou" attitude.
They are people with genuine hearts.
People with a broken and contrite hearts
....Willing to accept God's wil
l...Will to repent when wrong
...Willing to submit all to the Lord
Be Inspired!
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