Creating your future through entrepreneurship

As we were told as kids, money doesn’t grow on trees; and wealth rarely just appears in a person’s life.

Entrepreneurship is the process of creating an idea in order to benefit the society and acquiring wealth to one-self. The right approach can mean a world of difference in business. Part of setting up a long-term plan is knowing where the problem spots are as well as which business ideas. That’s why having a strong group of peers and mentors is so important for leaders: an outside perspective, or someone who has already faced a similar misstep, can mean all the difference between struggling and finding success.

Wealth is the product of man’s capacity to think. It is the different from riches while riches are parts of wealth. Wealth is also as a result of the function of your network. Your network determines your net worth. The quality of value you provide and the quality of your relationship ultimately determines your net worth. To determine your net worth, you need to ask yourself questions like: What solution do I provide? What problems am I solving? The more problems you solve, the wealthier you become. What is the extra thing you do to get financial freedom? Those extra little big is what would make you wealthy. 

The world is going global. All thanks to social media. Everyone is becoming proud entrepreneurs. Some are techpreneurs, they make use of technology to benefit our society.

Edupreneurs use their skills to benefit the education sector, socialpreneur, ecopreneur, mediapreneur etc. At this present time, graduates don’t search for jobs anymore, they create one. 

The likes of Bayo Lion Adedeji, CEO of Dundun nations, he sells dundun (fried yam) with lots of packaging. Something, the roadside marketer won’t think of, that’s a plus, he is making use of his academics and entrepreneurial skills to create jobs not for himself but for others too. Imagine the number of graduates like him working under him. Imagine his net worth after a year or more.

You want to be like Dundun Nations, Right? That’s a brilliant idea. Firstly, make the intention known, give it some attention, provide the right set of mind i.e. your belief, improve your growth, keep dreaming and realizing it, provide the best service ever, so your competitor won’t have a choice than to bow for you, have the habit of a good entrepreneur, learn to give before taking, if you have the habit of always taking without giving, you aren’t creating wealth. Learn to get tangibles, stop the materialistic lifestyle. Go for assets not liability, find success not faults as a good entrepreneur.

There is also need to increase your financial literacy by reading books on wealth creation by reading books on wealth creation, surf the net for it, play games like monopoly, payday, charge large to widen your horizon.  When the income comes, learn to save – 30%, invest- 20% and spend - 50%, you only get what you need, you don’t allow your wants supersede your needs.

As young minds, it’s advisable, you start to invest, you can invest in monetary bonds, mortgage, treasury bills, shares and even real estate. With the little amount at hand, before you know, it’s a huge sum in total. From your salary, allowance, gifts or part time jobs, you could squeeze something out of it to save and invest in it. Just think it. You can do it.

Amb. Alejo Samiat Abiola
Youth Orientalist, Lagos Youth Ambassador.