Month: October 2013
Are you an Entrepreneur or hoping to be one in future? Have you ever thought of having a Business Plan for the business(es) you are operating today and the ones yet to be created by you in the future or do you think you do not need it to be successful?
How hard is it?
You don’t need a College degree to develop a befitting business plan for your business, you just need to understand what the term means and that alone will create the urgency to have one and the inspiration of what it will look like.
Just like in physical structure a modern builder no matter his height of knowledge can do nothing both in building from the scratch and in amendment without the Building Plan, so also it is in business – a Business Expert can do nothing without a Business Plan.
Business Plan in a simple term is your plan for attracting investor, getting the customers to prefer your products and services over those your competitors and your road map to having a blissful business future.
Whether you are into online business or offline business you need a business plan. But having one has never been easy as you have to spend months writing it and your entire business life editing and updating it.
Note: No business is too small not to have a business plan and no time is too late to start writing one.
I’ve understood that some of the reasons why most businesses die with the first generation owners who embarked on traditional way of doing business is because they do not have an effective and efficient business plan. And the question is; why do Entrepreneurs need this Business Plan?
I’ve carried out a research, conducted a few minutes standing interview with friends and senior colleagues in the entrepreneurial world coupled with my experiences to answer that question. I know someone reading this article might be wondering – is it necessary? Yes! It is! Let me show you reasons why you need it.
¤ As an Entrepreneur, you need a clear statement of your business vision and mission
It is very important. Like in Emchis Consulting, our vision is to become Your Best Busines Environment For Expert Advice. This simple vision statement has helped us to remain focus on delivering the right information.
¤ As an Entrepreneur your Business Plan helps you set values that can help you navigate your business towards success during economic crisis.
¤ As an Entrepreneur your Business plan is your best tool for monitoring progress in your business
Yes! It helps you know if you are meeting up with the sales target or not.
¤ As an Entrepreneur your Business plan is your business blueprint that can help you focus your mind and energy while building your business from scratch to maturity
Since it works like a manufacturer’s blueprint, anyone can easily spot out where the problem lies and what to do to correct without having to speak with the owner.
¤ As an Entrepreneur your Business plan helps you analyse who your potential customers are, where they are, when to find them and what they want
¤ As an Entrepreneur your Business plan helps you become accountable to yourself
¤ When seeking for a loan or introducing your business to investors your Business plan acts as a résumé without which no one can take the risk of investing
¤ As an Entrepreneur your Business plan helps you figure out who your competitors are, their strengths and weaknesses and how you can leverage on them
The reasons are too numerous than we can mention here but the ultimate truth is that you need it to make a successful Entrepreneur.
Help us expand the reasons by sharing it with us on the comment box.
I stated it clear in Biblical Business Secret (vol.1) of how the Bible has become the most valuable resource for information on how to succeed in business.
In this volume 2 of Biblical Business Secret, I will be uncovering numerous secrets which you may have come across in raw form either when you were reading the Bible or during a Business Seminar. Remember, in Emchis Consulting our goal is to assist you with the best Expert advice so that you can be marked as an Entrepreneur of Distinction. Whatever we can do to achieve that is worth doing.
What were those things I read in the Bible that matched how things should be done in the business world? Just hook with me let’s go through the unveiling.
1. Carefully consider risk but don’t let it stop you
“If you are not willing to risk the unusual, you will have to settle for the ordinary.”
~ Jim Rohn
The inability to take risk is what has hindered some potential outstanding Entrepreneurs from ever becoming it. Do you know that it is more risky not to take risk and it is foolishness to take uncalculated risk? I have a friend who I adviced some months ago to start up his own business where his experience lies and since we could not afford the amount needed to start the business, we decided to sell off some of his properties. Why did I allow him to take that risk? Because I knew that the gain to be generated in few months time will be more than enough to buy back those properties. That’s what it means to take a calculated risk.
Risk comes to warn us. It comes to stop us and it comes to make us an experienced Entrepreneur. The platform of greatness would have been highly crowded if not for risk. Risk sieves out feeble men to favour ready men.
In GENESIS 27:12, Jacob was careful to consider the risk involved before launching out. Risk comes to give Entrepreneurs an opportunity to re-think. Had it been he launched out thinking what a risk-free venture!, he would have left the presence of Isaac cursed instead of blessed.
To succeed in business you must consider the risks involved; calculate them – settle all the “what ifs” and go ahead to work things out. You must never let it stop you. Go ahead and invest.
2. Be innovative
Innovation is all about making things work better, function better and produce better result than it has ever done before.
“Innovation is creativity commercialized.”
~ Dr Cherylend de Jager
Any business that fails to innovate collapse as our technology improves and any human being who fails to innovate expire as he or she keeps living with old information.
I’m of the believe that innovation should be made a daily routine. It must be circulated.
“Creativity is thinking up new things. Innovation is doing new things.”
~ Ted Levitt
So, are you innovative? If yes! What new thing have you been able to accomplish?
GENESIS 30:37-40 taught us that for you to succeed in business you must invent a new technology born from an innovative mind that will favour the course of your business. Jacob did it, and I’ve learnt it. Will you also learn it?
I know you will be wondering what this young man called Jacob did. Now, see what he did. The Bible said; “Now Jacob took fresh shoots from poplar, almond, and plane trees and peeled off strips of the bark to make white streaks on them. Then he set up these peeled branches beside the watering troughs so Laban’s flocks would see them as they came to drink, for that was when they mated. …. Then at mating time he turned the flocks toward the streaked and dark-coloured rams in Laban’s flock. This is how he built his flock from Laban’s.”
Having seen how innovative and technology-driven Jacob was in order to be successful, what new technology, whether globally useful or industry-specific can you invent to help you grow your business?
The Wright brothers who were the first humans to imitate birds in flight thought of innovation. Steve Jobs of Apple Inc. thought of innovation, Bill Gate of Microsoft corporation thought of innovation and in Emchis Consulting we are also thinking innovation. If I may ask you, what are you thinking.
In being innovative some rules has to be broken.
“They were Rule Breakers whose innovativeness captivated their customers – and frightened off all competitors.”
~ Robert M. Tomasko
(Author; Go For Growth)
Don’t forget I told you this is just volume 2 – subsequent volumes and updates will be published later just for you. It is my dream to provide you with the best of Expert advice that can help you succeed in any business of your choice.
Do you find this article useful? Please be free to share it on facebook, twitter and google+
Many people today who quit their job do that for several reasons. But the question is; are those reasons worth it? When I made up my mind that it was time to quit my job I knew what I wanted and that has helped me to live in the reality of those things.
When the news of my resignation was spread across our offices Nationwide, many of our staff who have worked with me could not believe it. Some of them had to call me to confirm what they heard. Why were they calling? They said; “you never behaved like one who wanted to quit this job.” Yes! They were right – but I knew it was time to bid bye bye to corporate slavery.
For several reasons I have warned those who came to me for advice about their decision to quit their job to have reasonable reasons why they want to quit their job before they do.
In today’s post I will be sharing with us reasons why you should or shouldn’t quit your job, although it is expected of you to leave a comment for me why you quitted your job or wish to do that in future.
Don’t quit your job because of the following reasons:
1. Because you hate your Boss
Too many employees today who are quitting their jobs do that because they hate their Boss. What they forget is that one day they will also become a Boss and if the Law of Nature should take its course on them, their employees will also hate them.
I still feel fortunate to have worked with one of the most hypocritical Bosses in the world who as he bites you he blows air on you. He perpetrated the act of waving off over 5months salary arrears and 2years leave allowances of ours without apology but I still did not hate him.
Hatred is a seed – don’t sow that seed because I know you won’t like its fruit.
2. Don’t quit your job because you need more money
As long as you keep quitting every old job and hooking up with new ones because you need more money, you will never have enough. In worst scenerio, if you move into the entrepreneurial world with such mentality you will ultimately get grounded along the way. So, get a better reason why you want to quit.
3. Don’t quit your job because your job consumes a better percentage of your time
It is a myth that becoming an Entrepreneur will offer you more time, instead, it is true that it will help you to be in control of your time. This is to mean that having more time is not the same as being in control of your time.
I’m yet to see an employee who invests more time than I do as an Entrepreneur except for those who have given off their entire being to be used up by their bosses.
4. Don’t quit your job because you lacked recognition and empowerment
Empowerment is something you work out for yourself. No one can ever empower you more than that you can do for yourself. If you’ve decided on the kind of person you wish to be go ahead and source for empowerment. Don’t leave your job because because your company has refused to empower you. Remember, it is not their responsibility to make you wealthy.
Work hard for recognition, and if it does not come go ahead and work – by doing so you set some universal laws in motion to work for you.
If those reasons and some other flimsy ones are your reasons for trying to quit your job you’ve got to have a re-think.
In my opinion I considered two things to be paramount before I decided to quit my job. Since I had a great value for this two things I never bothered to disclose it to anyone that may try to discourage me. What are those things? They are;
¤ Freedom from corporate slavery and
¤ My dream itself
These things – not money or fame are my driving force for becoming an Entrepreneur. And if I should ask you, what are your drive for being an Entrepreneur? Leave a reply for me let’s have your opinion. Thanks
According Forbes’ Report, more than 2million Americans quit their job every month unlike what we witness in my country Nigeria where over 40million Nigerians are seeking for employment. And the question is, why are these Americans quitting their jobs in a country with a working Labour law? Well, the answer will be for another day’s post.
The inspiration to write this article came as a result of the questions I’ve always received from friends and former colleagues who want to quit their job but do not know how to start? These people cherish the freedom that comes from one being an Entrepreneur but indeed they have not figured out how to quit their current job even when they no longer love the job.
I was almost getting used up by my former employer before I summoned the courage to quit the job and turned out to be an Entrepreneur.
To quit your current job and dive into the path of being an Entrepreneur of distinction needs serious courage and strong backup. Remember, one of the worst thing that can happen to you is seeing yourself crawl back to your former employer asking him to re-absorb you.
If someone like Tony Elumelu, the former MD of UBA can quit his job to become an Entrepreneur founding Africapitalism how much more yourself? Becoming an Entrepreneur is one of the choices I know I have never seen anyone regret. So, how can this article help you become one why you graciously quit your current job? Let’s get down on it a bit…
Before you conclude in your plan to quit your current job and move straight into becoming an Entrepreneur, these are the things you must do;
1. Build enough reserve you can depend on for the next six months to come
Yes! This is very serious. Most people hardly survive it the first six months of tendering their resignation letter. This makes some people to either go looking for another job or crawl back to the former employer.
Before you resign, build a financial reserve that can carter for your family. You know what your monthly budget is; multiply it by 6 and add it to the inflation rate. Save out that amount and get ready to fire your Boss.
2. Build another stream of income
This other stream of income is what is called; Passive Income. I have treated that in my previous article titled: Passive Income Strategy.
This secondary stream of income helps you gain some freedom and power. And thus will act as the shock absorber when you finally quits the job.
3. Quit the job when the ovation is high
The point at which you quit the job matters to a great extent. This secret is what Sir Emeka, the former Secretary-General of Commonwealth has used to maintain relevance among the world class leaders.
Don’t wait until your reputation has being fully soiled before you leave. If it is in your plan to become an Entrepreneur don’t wait anyone more, start now.
4. Discipline yourself before you finally quit the job
Entrepreneurs understand what it means to be disciplined more than employees. But if you are not disciplined as an Employee you may make the worst of Entrepreneurs.
“If you think your teacher is tough, wait until you get a boss.”
~ Bill Gate
And if I’m to re-phrase a fraction of that quote, I’d say … if your Boss is tough to you as an Employee, wait until you become an Entrepreneur and watch if life won’t be tougher.
Areas you must discipline yourself on includes;
(a) Your value for TIME.
(b) Your value for MONEY.
(c) Your value for CUSTOMERS.
(d) Your value for REST.
5. Designate a date you will quit the job
Some of my friends and former colleagues who inspired this write-up are seeking for a way to quit their current job which from what I learnt they are no longer comfortable with but they cannot. It is believed this was because they have not designated a date to quit the job.
Nothing in this world is too small to have a plan, this should also be related to quitting your job and moving over to becoming an Entrepreneur. Set a date deadline for yourself and work tirelessly to meet that date.
6. Build the bridges before you call it quit
We started by saying that you should build enough financial reserve and we want to end with asking you to build all the bridges before you finally quit the job. It is natural that your Boss may try being unbearable hearing that you will soon quit the job but go ahead and build a reputable relationship. I was fortunate to have worked with a Hypocrite as a Boss and that has just given me another topic to write on on my subsequent post – I knew he was cruel but he never behaved like it.
Notwithstanding what happens, go ahead and build your relationship with colleagues, customers and your Boss.
I hope you gathered enough reason why you are quitting your paid job to become an Entrepreneur? If you did, go ahead and follow those simple steps I have stated above.
For enquiries and suggestions, leave a comment for me below.
PERSISTENCE is what’s needed to achieve anything in life whether from God or from humanity. The Bible told us of how a poor widow was able to have her needs met simply because she mastered the art of being persistent. Sometimes, life may not yield you the result you sought for but through persistence you can get everyone dance to your tone of music.
You’ve got to insist never to give up on that relationship, connection, job, result or what have you. Charge towards it and challenge every standing orders that may want to form a barricade. The universe can only respond in equal proportion to your quest if not more than that if you insist, persist and persevere.
Were you told ‘get out!’ in the past? Did life order you to use the exit door – ordering you away from your prosperity? Or did your Boss, Spouse, Friend, Tutor or Parent refuse you that which you so much desired? Don’t give up! Don’t lose hope! What you need is re-inforcement, a new strategy and a concrete argument. Re-empower yourself by gaining more energy and be bold to look your challenge in the face and say; ‘I will never give up!’
Thinking from diverse perspective – it could be that that refusal made to your request was because your intentions were not wholly understood or because you lack concrete reason(s) why what you’ve asked for should be done. Re-visit your plan, come back again and again, and trust me one day life will deliver to you that which you sought for.
Hold on to that most holy faith. Don’t cast it down simply because someone rejected you. You might be rejected or refused a job today but that should not make you quit. Go back, retreat and re-examine yourself.
When you ask and no one replies, search! When you search and you didn’t find, knock at the next available door. When you knock and no one opens the door, combine the three strategies; ask, search and knock. Don’t quit because no one replied. Repeat this process over and over again.
It is not your fault that your first venture, after all
“Failure is a common denominator that has once, twice or many times in the past divided many great and later successful people”
~ Emenike Emmanuel [msp]
but it becomes your fault if you fail to persist.
You may not know how many miles you’ve covered in the imaginary world of getting your desires met, I guess you are closer to your success than ever. It might be too late to quit now. Just persist by doing it over again.
Get attracted to those things that inspire you. Add more power to be better, to do better and to achieve better. Don’t quit where mere men quit, you are a Superachiever, a Hyperthinker and a Change agent. Give the greatness within you an opportunity to express itself.
Remember, persistence is not a muscular job – it is entirely a Mind work. To do this you must work on your mind. Set it right and get all things work in your favour.
Notwithstanding the quadrant you find yourself, persistence is your master key for survival otherwise you may be quitting very early.
Do you have any achievement you’ve recorded in life that was as a result of being PERSISTENT? Please share it with us. Together we can assist each other achieve better. Keep sharing on facebook, twitter, google+ and press.
As Consultants and Entrepreneurs we are always faced with the job of negotiating with a Client over one business or the other. Sometimes we win big and sometimes we lose big but in all, it has always had a contribution on how successful we are or will become.
Wisdom should teach you that “you must never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals.” – J. Paul Getty
It is unfortunate most young Entrepreneurs has never thought of negotiating a contract. I guess that’s why most of them hardly develop a Business Plan before starting up a business. But in this article today, I will show you simple tips to help you negotiate well and as well land more contract.
Learning how to negotiate a contract helps you avoid regret in time to come. If I knew this before now, my former boss wouldn’t have denied me my two years leave allowance and my 5 months salaries he waved off. I had those ugly experiences because I never knew what it was to negotiate a job contract. Good negotiation gives you value both in cash and in kind.
In order to negotiate well, you must be able to answer the following questions correctly:
1. What is the monetary value for your products and services? And what proof do you have to defend your claim?
2. What is the lowest price you will accept? And why?
3. What if nobody accepts to have your products/services at your quoted price? Can you be flexible?
For you to make the best of every negotiation do not let the next person you are negotiating with know that you are impatient, desperate and have hidden interest. Pretend as if you don’t need it and that will help you price moderately if you are buying from a supplier.
In one of William A. Cohen’s advice on contract negotiation, he said the following;
(a). Do more than review your facts. Know the areas in which you can afford to be flexible and where you stand fast.
(b). Know the price for your services below which you cannot go.
(c). Know the areas in which you can speed things up and complete your tasks earlier and where you cannot.
(d). Write down your specific negotiating objectives. That way you won’t forget them in the heat of negotiation.
Warning: Never believe a statement made by someone you are negotiating with unless you can confirm it or test it.
5 Negotiation Tactics
1. Make big demands at the beginning. That will give you more room to negotiate.
2. If you have several competitors, let them know you are negotiating with them at the same time.
3. Be patient. An act of impatient shows that you are desperate and thus have an undisclosed agenda.
4. Be human. Be flexible so that you don’t burn the relationship bridge after landing the first contract.
5. Let someone you trust read-proof your proposal if it should be in paper form before sending.
Final warning: Never tell anybody how you outsmarted someone in the past at the negotiation desk. An attempt to boast on this could be another fast track in digging your business grave. From what I learnt about Donald Trump, he sold Merv Griffin a casino for hundreds of millions of dollars, Donald was believed to have gone on air to blow how he had taken Griffin to the cleaners. And we all knew what happened of how Donald Trump went bankrupt then.
“Don’t bargain yourself down before you get to the table.”
~ Carol Frohlinger
Are there other information you think should be added on how Entrepreneurs should be guided during negotiating a contract? Just leave a comment for me below.
Do you know why the Bible is considered the most useful business book in the world? Have you ever asked yourself why Business Consultants who are not even Christians cannot teach without quoting a Principle from the Bible? These and more are what I’ve been able to uncover in this article just for the passion I have to see your business succeed.
The Biblical Business Secrets series is very large based on the information I’ve gathered so far and still gathering, and that’s why I divided them into volumes. So, ensure you always follow me to know when the next volume has being published.
God is an Expert in hiding a matter but He has promised any man who uncovers the hidden secret a glory.
Having quoted the Bible as the most resourceful business book in the world, let me simply save your time by showing you proofs for my claim in this BBS vol. 1.
Secret 1: Before you start up a business you must assess the situation – God did it before creation
Assessing the situation in business terms is what we call Feasibility Study. In Genesis 1:2: the Bible told us that the Spirit of God was hovering over the situation of things. It was at this point of assessment he discovered how formless and void the earth was before He furthered the creation.
As a Business person you are, how far have you assessed the situation? If you did, what was your result? Be truthful to yourself! Don’t say it is beautiful when you know it is ugly. Remember God was plain at this point. If it isn’t working, say the truth so that you could be assisted.
This has nothing to do with being positive or negative – it’s all about Assessment just like in a financial report.
Secret 2: Do not make negotiation when you are hungry
No one will say he has never made negotiation or will make one in future. For me, I’ve made negotiations I later regretted but today, I’m better of than before.
The devastations consequent upon making negotiation when one is hungry is very huge – worst of all when it is business-linked. Imagine yourself being Larry Page 8years ago and you sold off Google! How would that make you cry now? Just imagine!
In 1976, Ronald Wayne sold his 10% stake in Apples Inc. for $2,300 and now Apple is worth over $50 billion. Take a look at what Ronald said; “if I had known it would make 300 people Millionaires in only 4years, I would have stayed those 4years.” Huh! That was the regret of a man who negotiated when he was hungry.
In Genesis 25:32, Esau made a deadly negotiation that opened him up for everlasting pain and a second class. If not for God, he would have been very poor although he had to hustle through life.
A single decision (or call it negotiation) he made made him vulnerable to deception. Esau said; “Look, I’m dying of starvation! What good is my birthright to me now?” Of course he knew it could be useful in the future. He said; “… to me NOW.”
To ensure you don’t make negotiation at the point you are hungry and desperately in need, you must learn to dig your Well before you are thirsty. Work your life so that it will work. Plan ahead of time. Don’t be ignorant that a day of famine will come when you have to fall back to you Energy Bank Reserve to draw.
As a Business person, making negotiation when you are hungry makes you under price your services and even your product. They are people waiting for you or your business to get hungry before they can come for negotiation – do not give them that chance. Negotiating when you are hungry reduces your value. It makes you stoop low below your class. And at the long run, it leaves you in regret.
Secret 3: Learn to use the language of your Customers – Jacob taught us how it works
When you speak the language of your Customers, you fasten the communication between both of you. The Customer automatically receives an inward assurance that you won’t cheat. It brings friendship. Remember, Customers can be sentimental atimes but only those who have learnt to speak like them can break the barrier.
In Genesis 27:20, Jacob mastered this 3rd secret and he said to Isaac; “… because the Lord your God put it in my path!” Had Jacob said otherwise, he would have departed with a curse (otherwise known as business failure) instead of a blessing
Naturally Isaac could not explain why the assumed Esau was so fast except if the hand of his Lord God was upon him. Jacob being a smart guy ended the confusion by answering Isaac in his own language.
Do you know any language of your customers/clients/spouse you can start speaking today? This is very important. It works, and it can work for you.
Do you find this article interesting or there are suggestions you have to make, leave a comment for me and I will reply you shortly. Don’t forget to share this on facebook, twitter, press and google+.
Follow my blog inorder to stay posted when new articles are published. This is just vol. 1, more volumes are coming up. Thanks for giving me you
The difference between men of activity and men of productivity is in the measure of jobs left undone after the day was over.
The inspiration to write this article came while I was walking down to the office in the morning. I pondered over it then and said to myself; “Boy! Let’s see how productive you will be today.” The bitter truth is that they are days so disgusting that we end up wet and weak yet not accomplishing much. But can I tell you that it isn’t natural… That is to mean; you can either choose to be productive or not.
One of the key factors I have observed that distinguish the Rich from the Poor is that the Rich are men of productivity while the Poor are men of activity. In the neutral sense of it there’s nothing wrong with activity but how come it has always stopped the average man from ever becoming as wealthy as he wanted?
I didn’t bore myself today by setting unrealistic goals, I was straight and simple to set three goals which I insisted to see I did finish it before coming back. I had in my To-do-list a proposal to compose for my Motivational Business Series among others and I’m glad I did today. That’s what it means to be productive.
What are the benefits for being productive?
Being productive is the best thing anyone can do. When you are productive as a subordinate you manifest the result of law of attraction. It makes you a favourite staff, a reliable boss and most importantly, the spotlight will always be on you. People tend to run to you each time a work is required to be done fast and in good condition.
Having watered your mind to find or increase your interest in being productive, I think the time is right to disclose to you the 6 Ways to Become Productive.
Let’s get down on them so that we could do something else.
1. Recognize God
Of course this is not a religious sermon but whatever we do in this life without God is prone to fail. God may not be asking you to let Him do the job but you must recognize His Sovereignty and Supremacy.
“Our service to God is not to provoke His blessings but to fulfill His purpose for creating us.”
~ Anya Oko
See God as the first.
2. Focus on your strength
One of the reasons why most Entrepreneurs find it difficult to be productive is because they start business in fields or industries they have no passion and thus strength in.
How can one discover his strength?
To find the area of your strength discover the area of your true passion. And how can you find this area of your passion? Ask yourself of things you can willingly do without asking for a pay check.
Any time you stop focusing on your strength you are bound to be very unproductive. So, to become productive, focus on your strength.
3. Don’t sabotage yourself
So many people are the root cause of their problems. They intentionally sell themselves to their enemies through their characters.
Don’t lie to yourself. Don’t be your own enemy.
4. Learn to work as a team
Be a team player. After you’ve learnt every other thing you must learn to work with a group. Don’t always believe you can achieve much going solo.
5. Learn to delegate responsibility
You can’t be everywhere at the same time and you can’t do everything all alone. You’ve got to let others mind the next post while you focus on someting else.
6. Be yourself
Don’t fake who you are not. Be original! Understand your limit.
Productivity is all it takes to be productive. Like begat like. The more productive you become, the more likely you will get the opportunity to be more productive.
Do you know of someone who wants to be more productive? Share this article with them or feature it in your blog.
Your comments and suggestions are welcomed.
The principle of potential difference is centred on my philosophy of what you know + what you do with what you know determines how successful you will be as an Entrepreneur.
The biggest mistake any Entrepreneur will make in life is to become so familiar with people especially other Entrepreneurs such that he undermine their potentials.
Everyone of us in this life have our individual abilities; either natural or acquired. Our abilities are not the same. There are things I can’t do which probably you reading this article can do with ease. Entrepreneurs who have understood the power of this Law of Potential Difference easily make money even when they were just showing off.
I have few of my friends who spent their time some years back building their muscles and today some of them are Gym Instructors and others Party Bouncers. Should I want to organize any occasion that will attract the presence of both cool-headed people as well as miscreants I invite these Bouncers. Why? This is because there have got what I need which I don’t have.
I have in several occasions paid musical Artists for coming to perform in our events, not because I wished to spend the money but because they have got what I need and for me to get it I must pay for it.
For you to maximize the benefit of this Law of Potential Difference effectively you must have to multiply your skills. And as you increase your potentials so will people pay you more to have it.
Do you know….
That “the potential of the average person is like a huge ocean unsailed, a new continent unexplored, a world of possibilities waiting to be released and channeled toward some great good.” ~ Brian Tracy
You have great potential. And it is this differences in potential that God has given one man to be richer the other.
To make this law work for you you must first understand your true potential.
Take your time to answer the following questions;
What are the things that make you unique?
Can those uniqueness be used as an advantage?
Can people accept to pay you while you use your potential(s)?
How competitive are you?
Have you being able to locate/identify people whose potentials are similar to yours?
“Things work out best for those who make the best of how things work out.”
~ John Wooden
Use your potentials wisely. Don’t let people misuse it – those potentials are what God gave you to be richer than the person next to you.
Do you find this article interesting? Share it on facebook, twitter and google+. Let’s know what you think, leave your comments in the comment box below.
I have in several occasions organized seminars on passive income earning because I know that’s the best way to go in dealing with the series of financial challenges confronting the world. Why are am I saying this? This is because it is only through passive income earning will you produce more than you can consume.
Passive income helps you workless and earn more. With passive income I have programmed my life to retire early. And since it is my calling to empower Entrepreneurs, I have also decided to teach everyone how passive income works.
“If a child, a spouse, a life partner, or a parent depends on you and your income, you need life insurance.”
~ Suze Orman
Let no one deceive you that you can become wealthy doing one business; you need passive income strategy. Passive income is all about putting money into a business with the mindset of getting something back without necessarily being involved directly.
The best passive income strategy I have used and still using is the sales of information products and network marketing. Through my book, ebooks and audio book I generate added income and value.
I have in several occasions staged a debate with people who don’t believe in Multi-level Marketing – these people believe it doesn’t work but my experience has proved otherwise. As I write now so is the bodyspray from Turkey which I’m promoting in my Network Marketing company selling in the market. While I focus on following my passion [which writing on this blog is a part of], improving and increasing my academic qualification, I still make some money.
The essence of education is not employment nor certificate but strategy and empowerment. Even as you get educated by EmchisConsulting, you must know that execution is where everything lies.
The flu of underdevelopment infected on Africa was because our fathers taught us to be certificate oriented just like Robert Kiyosaki’s father did to him. What we didn’t understand until recently was that when one becomes successful we seldom recall what degree he had in school.
What then were the secrets of the world billionaires? – Passive Income.
My mentor gave me a difference between an Entrepreneur and a Professor. He said; an Entrepreneur is one that studies a little about a lot while a Professor is one that studies a lot about a little.
How does this work?
If you have 10 skills or 10 business ideas and you are able to harness them effectively such that they can independently fetch you $50 a week, you are already 500 dollars richer by the weekend. Now, come to think of it when it runs in hundreds with the income per idea, you know how wealthy that would have made you… The day I disclosed this arithmetic to one of the guys I mentor [who is over 10years older than me], I knew how happy he was – he wished he just began.
What’s then the passive income limiter?
What has deprieved many people from enjoying the benefits passive income was what they know. This is quite ridiculous! How is it possible?
Let me tell you a story that happened last week.
A junior friend of mine in the academic cadre met me a week ago to inform me of his decision to buy a new form – instead of studying the Physics/Electronics [which I’m a proud product of] he formally picked form for he now wants to study Electrical/Electronics Engineering.
When I enquired what influenced his decision I was amazed it was a young Lecturer in E/E. Engineering department. What did this young man tell him? He said there are no jobs for people that studied Physics/Electronics and that if there be any, they are few. I gave my friend a heavy sigh and proceeded to tell him that we are in the world of job creation and that anybody whose mindset is to leave you a Job Seeker after 5years in Tertiary institution is a cog in the wheel of his progress.
My friend looked at me surprisingly and I went ahead to tell him that the Lecturer is no different.
What you know can limit you to a great extent.
What are the simple strategies one seeking for passive income income opportunity can apply?
1. Plan for it
Nothing is achieved exact it be planned. For you to start earning via passive income you must plan for it.
“You must as a leader have a plan, a step by step trail, and direct your people down the MLM [passive income] power path.”
~ Doug Firebaugh
2. Think about it
“Whatever a man can conceive he can achieve.”
~ Napoleon Hill
Do you wish to start earning via passive income? Then you need to think creatively about it. Wherever your thought goes that’s where you generate energy to do.
3. Network with friends who are already into it
“Networking is an essential part of building wealth.”
~ Armstrong Williams
4. Understand how it works and series of channels you can develop your passive income from
5. Start earning
“You don’t have to be great to start, but you have to start to be great.”
~ Zig Ziglar
Tell me what you think. Are there points you
We have discussed the first phase of How to be an Entrepreneur of distinction and in this part two, we will be digging even deeper to greater revelation.
Remember I told you in my previous article that even those considered idiots can succeed in business. So, I wouldn’t want you to raise unjustifiable reasons why you can’t make it as an Entrepreneur of distinction. You can! The potentials are within.
To become an entrepreneur of distinction everything that needs to be done must be done. These things include;
7. Learn to save for the big deal
If you have a plan, a goal and a vision of what to achieve as an Entrepreneur you must start saving for the big deal.
Saving has gone beyond just dumping your money in a bank for them to make 100% profit and pay you peanuts. You can also save by investing your money to make it work for you.
8. Invest your time to make it work
Everything that is of value directly or indirectly needs your most-precious time inorder to yield a precious result.
The world of entrepreneurship needs your time. Spend your time on learning and implementing every idea necessary to grow.
9. Be service-centred
The first thing I learnt when I moved into the world entrepreneurship was seeing it as an opportunity to serve. Jim Rohn said; “service to many leads to greatness.”
“I never perfected an invention that I did not think about in terms of the service it might give others… I find out what the world needs, then I proceed to invent.”
~ Thomas A. Edison
Don’t be deceived that being an entrepreneur is all about making money. Although you will get money being it but that’s secondary. The first is being service-centred, helping people realize their true potential as an Entrepreneur.
10. Make a list of Role Models and Mentors and seek for opportunity to meet them
In 2012, alongside my new year resolution were included 10 great Motivational Speakers and Business consultants I wanted to listen to. These people were my role models and mentors. I created opportunity to meet with them and I was glad I did.
“We were young, but we had good advice and good ideas and lots of enthusiam.”
~ Bill Gate
If you must succeed as an Entrepreneur of distinction, you must have a Mentor and Role models who’re Practicing Entrepreneurs. It is on the platform of Mentors that we use to see farther. From their mistakes we learn.
11. Be innovative
“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a capacity to create wealth.”
~ Peter Drucker
Innovation is what Steve Jobs of Apples Inc. used to supercede some other industries. For your business to function effectively as an entrepreneur you must not depend on the strength of your last invention.
Innovation and creativity must be made a daily routine. That alone helps to keep you and your business on the know. This is the secret some multinational companies in Nigeria my mentors consult for have used to outweight their conterparts.
With innovation you become the market leader.
“There is not a problem that’s large enough that innovation and entrepreneurship can’t solve.”
~ Naveen Jain
12. Give back to the society
We are meant to know from Psychology that we are products of our environment. No matter how we may argue it our environment has a vital role to play in our success or failure. If people around us have played their role, we need to play ours.
Almost all Entrepreneurs are Phillantropist so you also need to be one. Bless the world. I wish you the very best.
Do you find this article interesting? Share it with friends on facebook, google+ and twitter. Remember to leave your comments.
As part of my responsibility to show you how you can do better as an Entrepreneur I have digged down into my experiences, those of my friends and Mentors to release in this article key things that have helped us become very successful and how you can also make it work for you.
Whether it is an online business you are practicing or the ones on bricks-and-mortar, ideas shared through this article was written with you in mind. That’s to mean it was targeted at you – EmchisConsulting have you in mind.
All my life I have always dreamt to be an Entrepreneur and not just an Entrepreneur, but an Entrepreneur of distinction. At the age of eight I persuaded my Dad to start up what we call a “Provision store” for me against his own wish. I managed the business for awhile until he was transferred to another location then I was forced to close down the business. While I grew up, I saw the need to get back to this very thing [called entrepreneurship] that was highly fascinating to me. Now here I am! Haven’t built several blogs for individuals and NGOs, I now appreciate the values of doing business as business and not a hobby as most intending Entrepreneurs were mis-taught.
There’s a clear difference between what is considered a business (not “busyness”) and hobby. I would have loved to dig deep into that but let’s leave that for another day’s post but let it be clear to you that they are entirely different.
To become an Entrepreneur of excellent distinction many things are involved. This is why the very few that dared it quit before the time was ripe for enjoyment. But with these points I will be sharing with you in this article your journey into the entrepreneurial world will be made easy and simple.
Let’s get down on the points..
1. Set your goals and make it clear
“Setting goals is the first step in turning the invisible into the visible.”
~ Tony Robbins
Goals are propellers of wonderful initiatives. Any Entrepreneur who wants to make a name for himself or the industry he represents must have a clearly written goal in mind.
In setting goals you don’t make it ambigious and overrated otherwise you scare investors. Just make it simple but “when it is obvious that the goals cannot be reached, don’t adjust the goals , adjust the action steps” – Confucius.
2. Embrace every opportunity to meet people
For any business to function people must be involved in it. It is unfortunate today that we hear business-owners telling customers “I don’t need you.”
Through the opportunity of meeting people you can maximize time to advertise your business at barely zero cost. If the opportunity aren’t coming forth as supposed create it, you have the creative ability.
3. Take calculated risk
Risk is one among many features an Entrepreneur must have in mind.
“Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets.”
~ Victor Kiam
Be calculative in your risk taking. Invest your time to it and watch your business bring you the desired result.
4. Don’t believe in luck
Any Entrepreneur who dares believe in luck is the man most miserable. He’s not worthy to be an entrepreneur. Luck has barely worked if it exist. What most people mistake for luck is favour.
“Shallow men believe in luck. Strong men believe in cause and effect.”
~ Raph Waldo Emerson
No Entrepreneur aiming for excellent distinction should bank on luck. Spread the news to everyone who care to know.
5. Learn to break obnoxious rules
Entrepreneurs of distinction are out to break any rule that may try to stand between their business success. They are not easily intimidated or chased out of their market.
6. Get experience
Before you made up your mind to become an Entrepreneur how prepared were you? Do you have an experience to what you are into or are you planning to risk your start-up capitals re-training yourself?
“Experience taught me a few things. One is to listen to your gut no matter how good something sounds on paper. The second is that you are generally sticking with what you know. And the third is that sometimes your best investments are the ones you don’t make.”
~ Donald Trump
Trump was a man who in the early 90s personally owed debt of $900 million outside the companies he owns. At this time his companies were in $3.5 billion of corporate debt. This is to mean you can voluntarily afford to buy the 168 million Nigerians a bottle of the cheapest wine and still not owe as much money as he owes then.
It was by this experience he has learnt his lessons and I urge you today to set a legacy only a devoted, cultured and a purpose-driven new generation can beat by being an Entrepreneur of distinction.
This is just the first phase. Before you finish implementing it the 2nd phase will be out. Keep on following us. Drop your comments let me know what’s up.
“Nothing is so humiliating than to see idiots succeed in enterprises we have failed in.”
– Gustave Flaubert
Not until we have seen people who we by all standard of things measurable are better than succeed in business it never occurred to us that idiots can also be successful especially in businesses the wise have failed woefully.
Success in business is what anyone can achieve if he or she learns to play by the rules and also break the rules where necessary. One of those rules that have lingered in Africa and especially in Nigeria is that young people are not permitted to start their own business or do what I call earning-from-talent until they have passed through the tertiary institution. This is why we hardly have young millionaires in Nigeria unlike what is obtainable in other developed countries of the world. If Bill Gate, Mark Zuckerberg, Steve Job or Jeff Bezos were to be Nigerians, their parents would have stopped them from dropping out of school to face their lifetime dream. I can remember vividly what my Mum told me the day I disclosed to her that I will spend my tuition fees in publishing one of my books. She spoke to me at length and convinced me to change my mind.
Most Nigerians still believe that inorder to be successful you must have a college degree while few which you and I is a party to believes that certificate without strategy is the root cause of our national problem.
To be successful in business you don’t need the tutorial of a Spiritualist, a Prophet or a Professor who know nothing about starting and running a firm. You need a mentor, a coach and a model. This is one among many secrets those we considered idiots uncovered to become so successful in business. Instead of running from one prayer house to another, the termed idiots gave their time to researching, investing in their ultimate skills and service to many. They were seen as idiots when they worked on jobs they didn’t love although it was profitable and a must-have for everyone just to get what they want. Today the spotlight is on them.
“Know the rules well so you can break them effectivelly.”
– Dalai Lama XIV
Do want the tested and proven secrets to becoming successful in any business of your choice? Then;
* Have a Mentor.
* Acknowledge the rules.
* Obey the rules.
* Play by the rules.
* And break it if is obnoxious.
Don’t forget to leave your comments and of course check back on us for articles on this category – How Idiots Succeed.
What we often think about and how we do it has a way it affects our total being. Some Entrepreneurs who do not understand the rules of the game believes that thinking so much about money helps them make more money but that is not true. If there’s anyone who dislikes poverty in this world it is me and that made me think so much about money. But the funny part of it is that the more I harboured the thought, the more respect I lose, the more enemies I create and the poorer and unfulfilled I became. This is to show that I’m not here to talk to you about theories – this article is a fragment of my experience and that of others I have studied.
Having overcome this dead-killer of thinking about money, I would want you to also do.
Let’s get down on it….
Money is one of the most powerful language of life. In fact among the three rotor wheels of life; P.M.S. – Power, Money and Sex, money is the most powerful. It is the quest for money that prompts all other.
Sometime in August 2013 I asked a young boy of 5years in my city to join a chorus in Church and he was bold to ask me how much I will pay him. It was then done on me that the quest for money in our world today in on the increase.
There’s a paradigm shift from what we use to know about money. Real Money is not acquired by working or thinking about it, it is now achieved by adding and creating more values. Nothwithstanding the power of our thought to bring imaginations into realilities it can do nothing in translating our thoughts about money into real money, instead it will make us lose time, of which you know that time = money.
“There are two rules in life. Number one is; never lose money and number two is, never forget rule number one.”
~ Warren Buffet
(The American Billionaire)
Any time you spend your time investing in thoughts that will never translate directly or indirectly into money, you are only making yourself poorer. A friend sent me an article today, “My Thought Made Me” and that just reminded me that we are products of our thought.
If thinking money makes us poor what then can we think about?
In just three points I will show you areas you should channel your thoughts. Although we will be going in details in subsequent articles.
These 3 points are;
1. Think God, His work and His Kingdom.
2. Think Service.
3. Think Others.
It is believed that our energy is generated and channeled anywhere our thought is – which is to mean, if we spend our time on unprofitable venture we end up being poorer than when we first began.
Do you want some more? Motivate us by sharing this article with friends on facebook, twitter and google+, and we will in turn feed your mind with motivating business ideas and solutions.
Aside Posted on
Leadership in communal polity is not what it is in the real world of business. Ah! I know you will be wondering what new definition has Emenike got for leadership, but that’s not what I intend to share with you guys on this blog.
I realized that in the world of business you don’t necessarily have to lead inorder to be outstanding, what you’ve got to learn is how to follow and follow well. This I learnt by close observation of the operation of the multinational companies in Nigeria and in the global world. Some of those companies [needless to mention names] were not privileged to employ creative people but they had smart people who knows how best to follow New-Thinking.
An Entrepreneur who wants to make impact in a shortwhile must learn to follow well. Remember I didn’t say copying well.
Every business whether in Nigeria or outside Nigeria, online or with brick and mortar has a pattern it is operated. It has a success formula – when you follow it, you get the same the result.
Don’t wait until you have become so magnificently creative to start that business on your mind, just start being smart in following others. When you do, even the most creative Fellows will be surprise at how you have become so productive and outstanding.
This is a piece of my mind. It worked for me and I know it will work much more for you. Don’t forget to let me know what you think in the comment box. Your success in life and in business is my concern. Let’s go….
Aside Posted on Updated on
Just fifteen days ago my country-Nigeria celebrated her 53rd anniversary of securing independence from the Britain but what I have never ceased to ask is how independent we are seeing that we now import and emigrate in multiples. Despite all that have been said, half done and in worst scenerio undone, the rate of dependency by our youths on the government, their parents and on their certificates in Nigeria is on the increase. This is why few old men and women who never discovered the strategy towards retiring early pray to work until their 70s simply because they are in search of financial independence.
I have come to terms that there’s no other better time to transmit this urgent information of seeking for financial independence otherwise known as financial freedom than now every youth in Nigeria has lost confidence in our Government-in-Power, GIP. Just like most youth today, I use to think that it was the sole responsibility of the government to carter for her citizens in every angle until I grew up, discovered my purpose for living and it became a burden to me to give back to my society.
As we are still in our month of celebration or planning to celebrate the upcoming independence, we should also check how financially independent we are. Remember, we are not free until we are financially free.
As our politicians celebrate their 53years of keeping Nigeria in bondage, may we, the zero-tolerance youths rise up to fight peacefully for financial independence. We are looking forward to the New Nigeria of December 31, 2025 our mentor spoke about which we tapped into to say that by then every youth in Nigeria must have developed his/her own business.
Nigerian youths are tired of being used as a business depot where different ministries and agencies that have exhausted or not received their annual budget declare vacancies just to make money from selling scratch cards. This is indeed a high rate of sheer wickedness on a person seeking for green pasture. I have also heard that some people demand for money in order to offer the unemployed job, but the question is, where will someone who has been unemployed for years get the money to lobby?
If you can reason from my own perspective you will realize that financial independence or freedom does not come when you secure a white collar job instead, that’s another form of modern slavery just like visa lottery.
Financial independence comes when you discover your purpose for living, tirelessly work to translate it into a skill and persistently add more values than you are ready to take. At this point every talent you discover or skill you develop projects you into the atmosphere of greatness where the liberty to be rich abounds.
It is my desire that our independence will also favour our financial status.