One of the myths of entrepreneurial success is that you must have a lot of money. “It takes money to make money”, I have often heard. Of a truth, when starting a business or an enterprise, the value of having enough money cannot be overemphasized. However, there are several other things that make for success other than money. I have read tonnes of stories of successful men, who started with little or no capital and went on to build great business empires. How? You may ask.
Well, I believe there are actually some things that are more valuable than capital that can lead to your entrepreneurial success. Let me give you the list.
Time is more valuable than capital. Infact, God never gave anyone money. What he gave us initially was time. You go and invest the time to get money. In my opinion, time is the most evenly distributed of God’s gift. Everyone on the planet has exactly the same amount. The US President elect has 24 hours. A beggar on the streets of Lagos has 24 hours. How you spend these 24 hours goes a long way in determining how successful you will be. Some waste it and amount to nothing. Some set it aside to be invested in an enterprise that brings value to the marketplace with the hope of making a profit.
How valuable is time? Time properly invested is worth a fortune. Time wasted can be devastation. Time invested can perform miracles, so you invest your time.
Courage is more valuable than capital. If you've only got N100 and a lot of courage, I'm telling you, you've got a good future ahead of you. Courage in spite of the circumstances. Humans can do the most incredible things no matter what happens. Haven't we heard the stories? There are some recent ones from Kosovo that are some of the most classic, unbelievable stories of being in the depths of hell and finally making it out. Its humans. You can't sell humans short. Courage in spite of, not because of, but in spite of.
This is all about putting your brains to work. Probably up until now, you've put about 1/100 of your brainpower to work. What if you employed the other 99/100? You can't believe what can happen. Humans can come up with the most intriguing things to do. Ingenuity. Haven’t you heard of people who made millions using other people’s money? They’ve got the idea, the ingenuity. I believe strongly that ideas rule the world….not money.
What's ingenuity worth? It is probably worth more than a fortune. It is more valuable than money. All you need is a $1 and plenty of ingenuity. Figuring out a way to make it work, make it work, make it work.
Desperate people do desperate things. I do not mean this in a negative way. However, when a young man is determined and desperate, there is no limit to what he can do. I read about the story of Bill Bailey who went to Chicago as a teenager after he got out of high school. And the first job he got was as a night janitor. Someone said, "Bill, why would you settle for night janitor?" He said, "Malnutrition." You work at whatever you can possibly get when you get hungry. You go to work somewhere -- night janitor, it doesn't matter where it is. Years later, now Bill is a recipient of the Horatio Alger award, rich and powerful and one of the great examples of lifestyle that I know. But, his first job -- night janitor. Desperation can be a powerful incentive. When you say - I must.
I will share the other things in the 2nd part of this article coming up shortly
Meanwhile, I am using this medium to invite anyone in Ibadan, Oyo State, to the maiden edition of Billionaires in Training. It will take place at Jogor Centre on the 31st of January 2009 at 10.00a.m. There are limited seat available. Individuals are to pay 2000 NGN per person, while couple would pay 3000 NGN. If you are interested, please call Yinka on 08062851294
See you at the top!
Monday, January 19, 2009
Thursday, January 1, 2009
Celebrations are taking place all over the world to mark the beginning of another year. We dealt with the old (2008) and took hold of the new (2009). From Sydney to Hong Kong, from London to Rio De Jenerio, from America to Africa, fireworks hit the midnight sky as the clock tickled past midnight. Some 400,000 people braved freezing temperatures in London for a fireworks display beside the Thames. In New York almost a million people packed a freezing Times Square as the famous Waterford crystal ball descended to cheers at midnight. It was, to say the least, breathtaking.
The year 2008 was a different year in many respects. America witnessed the election of the 1st black President, after several months of political maneuverings. We were told that the earth’s rotation in 2008 was also somewhat slower; hence one leap second was added to the clocks worldwide as the year drew to a close. Not only did the earth’s rotation slowed down, global economies were at an all time low. It is almost unbelievable how many established companies is either folding up or downsizing. Those who are not are running to the government for help. The stock exchange is not spared for this troubled times. Stock market in tumbling at an alarming rate. I mean some people practically lost all their retirement benefits to this fact. A barrel of oil that was sold for $147 in July is not sold for less than $40. Can you imagine what that means to the economies that are solely dependent on oil (like my dear country, Nigeria)?
A barrel of oil that was sold for $147 in July is not sold for less than $40.
The truth is that most people entered the New Year with lots of caution and pessimism. Unlike the promises that the New Year brings, this year promises tougher economic crises, tougher financial situations and a lot of uncertainties. Listen to speeches from leaders around the world, and the message can be summarized – The year 2009 won’t be an easy year. We will have to find new ways to solve the world’s overwhelming economic crisis. What then does 2009 hold for us?
All hope is definitely not lost. I believe strongly that one can thrive well even in the midst all these clouds. During the all night service I attended at Daystar Christian Centre to mark the New Year, the Pastor of the church, Rev. Sam Adeyemi, gave some keys to ride on the winds of the Season of Change that we are experiencing all over the world. May I share some of these points with you?
Put Your Trust In God –
The truth is that even our leaders are sort of confused about the economic situation of the world. They know we won’t pull put of it fast. The only one who has the solution at the tip of his fingers in the Leader of all leaders. You had better put your trust in him. The arm of flesh will fail. Formerly proven ideas and methods won’t work. Only God inspired ideas will thrive in the year 2009. Wouldn’t you rather bank on the one whose capacity to fail is zero? I will!
Formerly proven ideas and methods won’t work. Only God inspired ideas will thrive in the year 2009
Build Your Life On Scriptural Principles
Methods changes with time. Principles don’t. Whatever goes up must come down. That’s the principle of gravity. Principles have no respect for economic situations. They have no respect for location. They are universal laws that hold through, no matter what. In the year 2009, we need to build our lives on principles and not methods. As change occurs, we adjust our methods, but not the principles.
Act In Faith
Whenever there is a global recession, it always comes with a redistribution of wealth. Position yourself in faith to be on the receiving side of the redistribution. Step out in faith and take positive actions. Do not sit down with your hands folded, waiting for government to effect changes. Don’t cry over spilled milk. Yes, it’s going to be a tough year and it will take tough people, not only to survive, but to also succeed.
Pursue the Expansion of God’s Kingdom with a Passion
When you mind God’s kingdom, then he will appoint to you a kingdom. The purpose of this coming wealth transfer /redistribution is to promote God’s kingdom. It’s not just to make our bank account fatter or for show off. It is to propagate His course on earth. If you will not mind God’s business then do not expect Him to mind yours. What kingdom activity will you be involved in this year? This is what will compel God to act on your behalf.
If you will not mind God’s business then do not expect Him to mind yours.
Maintain Your Joy
Sometimes, things will not go exactly the way you have planned it to go. As such times, you need to keep your joy. “The Joy of the Lord is your strength”. If you lose your joy, then you have lost your strength. In high and low times, keep your joy. Even when you are behind on your dreams and on your bill, rejoice in the Lord your God! “Although the fig tree may not blossom, neither shall fruits be in the vines…..yet, I will rejoice in the Lord, I will joy in the God of my salvation”.
Here is wishing you a splendid year ahead. You deserve one!
Happy New Year.