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!