Financial Freedom? First Kiss Poverty Goodbye

 

Reading about Chioma Ifeanyi-Eze post about people who are struggling financially not willing to do businesses that return quicker sales and margins remind me of two related stories. The first happened in 2011 when I am about to start over again after losing it all with huge debts, while the other one happened recently.

 

After losing it all in 2007 with a huge debt to pay, without giving up, I engaged in freelancing activities only to meet my basic needs including classroom teaching and barman. Many of the time when I am sharing this story I always say I wish I have all this knowledge back then; I would have done things differently.

 

For 4 good years, I was so devastated but never try locating myself with the knowledge of SWOT analysis. Apart from taking advantage of the resources back in my home time, trying to research how I can convert some to products or engage in supplying it, another strength I have is basic computer knowledge that I self-learned. So, I concluded to open a Computer Training Centre but no money to kick starts the business.

 

To cut the story short, I found my way around funding by collaboration and raising funds from family and friends. The collaboration parts bring a lot of lessons that prolong my entrepreneurship journey for another four years.

 

Starting Million Naira without Experience

One of my benevolent relatives after listening to my story, instead of given me a favourable reply or otherwise to my request started this way. 

 

Are you not talking to …………..? I was shocked, so, I asked, about what sir? He said about doing something like this. That answer got me relieved, so I listened attentively.

 

He is ready to help him but he is asking too much shoing signs of unreliable. He added, and I am very sure he is going to waste that money, so I could not allow that to happen.

 

He wants to start a business that requires some knowledge beyond his capacity and most importantly that requires over a million naira. I smiled because I had a recent experience then and I knew he is right. He will burn the money like I did, like many people use to do; climbing the ladder from up-down instead of the other way round.

 

He wanted to help him if he is ready to start small and grow gradually, that is why he is impressed and gave me the little financial help I requested, although below my expectation. With the progress I made, I am very sure if I go back to ask for more, he will be glad to but I never, nevertheless, that little lift was well appreciated and made a lot of impacts to get me started.

 

     Also Read: Financial Freedom? Try Investment Club

 

The Need to Dream Big

This scenario is a common one; it is as well an instant gratification syndrome. People want to get rich overnight. Just because you are told to dream big and believe dreams do come true does not mean you should lose your common sense and get crazy jumping from frying pan to fire.

 

I can’t share my full stories here, but let me add this. When I started my Basic Computer Training and Service Centre, I had a big dream and gradually the dream is coming true but my priority at the initial stage is to make at least NGN1000 ($7) daily. With that, I can feed my family. When I cross that line, I set NGN5000, then NGN10,000 daily revenue. The day I crossed NGN10,000 daily revenue financial goal, I knew I have to change, I mean set goals to pursue my big dream. Today, whether I show up or not, an average of NGN15,000 revenue after all expenses deducted except staff salaries which are approximately NGN50,000 is guaranteed with all things being equal.

 

Solving COVID 19 Challenge with Network Marketing (MLM)

One of my regular customers at my Digital Skills Centre called me one day to place a Facebook advertisement. After a few questions, I was confused because of the amount involved. How do I charge for my service with this and to cap it all, the most annoying part of it is that the advertisement is for MLM? Of course, is none of my business but it’s annoying because I won’t get paid, even though, I still requested NGN1000 ($3) for the cost of operation which she could not afford, so I free her.

 

Recently, she called me again for the same thing, but this time around with one of her downline. I let her know she will pay for the cost of operation. Unfortunately with a new Facebook advertisement policy, I tried on two occasions but the advertisement was rejected, if we have to make it successful, they might not receive a good response. So I told them the fact but very bitter, so they look for an alternative.

 

Few days thereafter, her downline check me at the office and was fortunate to meet me. She informed me she tries to fix it herself with the content suggested to them but does not receive a good response except some few likes. She was confused if the advert is still running or not. Unfortunately, all her token has been exhausted without a single lead not to talk of sales.

 

This allowed me to interview her and gave her my little advice. That is how I got to knew she was a teacher before COVID 19, an attempt to find alternative, she was introduced to MLM.

 

If you are serious about getting out of the Rat race, you have to first kiss poverty goodbye. Stop thinking about jumping the process to Financial Freedom, it won’t work.

 

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