Do you have a profitable idea, a viable business plan or a qualitative feasibility study but do not have the capital to jump-start your business – I mean the business purported to transform your life for a lifetime? Okay! What would you think if I tell you that raising money for your business startup is as easy as the air we breathe? Would you believe that? I know you might doubt it but before the end of this article I’m optimistic that your doubts will no longer be there. In this article I will show you strategies that helped me raise money to publish my first book, buy my first personal computer and of course support my education in the tertiary institution. A few of the things I mentioned is to tell you how real these strategies of raising money for your business are. Oh! Did I forget to tell you that the money needed to furnish this blog, design and of course print my business card also came from these strategies? These strategies are what self-made millionaires first started with.
These strategies of raising money for your business startup have not only worked for me but also to as many as that have followed my daily teachings on facebook. Recently one of my facebook friends who is also a consultant asked me for permission to borrow some of my strategies so that he could share it in his upcoming Business Class, which I obliged. That’s to tell you that what I am here to teach you on this blog are not one of those theories no one has ever practiced but true key points thousands of people pay to listen to in a Business Summits.
More often than none, people have narrowed their mind to borrowing to start up a business which I regard as the poorest method of a man’s thinking. Successful and practicing businessmen will never suggest that you collect a loan to start up a business – even your worst enemy can’t ask you to do that. This is because most people who failed from the top of their entrepreneurial life to get grounded all had their business capitals as loans with interest they could not pay at the long run. The principle is; “stay self-funded as much as possible.” Never take a loan to start up a business, and if you must collect, make sure the interest rate is as low as possible.
How to Raise Money For Your Business Start Up
To raise money for your business start up, here are few things you must do;
1. Seek first the Kingdom of God and His righteousness and every other thing shall be added unto you
2. Conserve more time than you use to. Only few would-be entrepreneurs know that Time is Money. In that case, don’t spend time otherwise you will never have it back instead invest it.
3. Work for a salary/wages
4. Get a part-time job
5. Begin a home-based business as another stream of income
6. Use salary advance for your start up if you are already employed
7. Raise your bar of excellence in the area of financial discipline
8. If you have a viable business plan and a well articulated and comprehensive feasibility study go for loan but be sure it has a low interest rate.
When you generate more income from any of the above strategies I stated above, begin by implementing it right away and you will see yourself flying on the wings of success.
I am Emenike Emmanuel, the Executive Director of Emchis Motivational Network. I write, speak and motivate individuals and organisations to achieve excellence in life and business. Through this blog (Emchis Consulting) I have touched thousands of lives around the world positively. I have also interviewed different industry specialists in three different continents. I believe that anyone can succeed if the person can find out where he or she is naturally planted. And guess what? I am a Nigerian. Now, are you looking for a speaker to stir hope and peak performance in your audience? Stop the search and give me a call (on +2347036251361) to book appointment with me.
How Thinking ‘SERVICE’ Makes You Rich
I n my previous post I told us How Thinking Money Makes You Poor, and today in this post I want to show you how thinking service can make you rich. So, do you really want to be rich or you are satisfied wishing it? Wishes don’t make people rich, instead, action does. And that action is this service I am about to show you. Once again I ask you, do you want to be rich? As if I don’t know – who doesn’t want to be rich? Of course everyone does but the poor can never be totally eliminated. This post today if rightly applied can add a dollar to your account. By this I mean to say that if you discover an area to serve, people will willingly pay you for it.
Jim Rohn, the American Business Philosopher said something from the Bible that amazed me. He said; “Service to many leads to great.” This is exemplified in the number of people that followed the ministry of Jesus Christ. Even after many have read this, some of them still undermine the power of service. Service, no doubt is the only channel through which we pay our rent here on earth and it is still the only reason for which money can leave your hand into mine and that of others. None can ever be rich by thinking money. Most times we are beclouded with this fantasy about money that thinking money, money, money will make us have it. Wake up my dear, the rich has always sought for a means to serve the poor, yet the poor still wonder why the rich are getting richer. Can’t you see they are ones serving you despite how rich they are? The day they get tired of serving you they are FIRED.
Experts have told us that 80 percent of the money generated in the world is controlled by 20 percent of the world population. And from the last time I checked, this twenty percent offer the greatest and most widely used services.
No matter how long you continue to think about money you may never have it. My own case was a glaring one. As much as I thought about money, I lacked the money even more. I never knew I was empowering my mind to work against my success. This is the case of most entrepreneurs today but thank God for this article that has come to change us; the way we think and the things we think on. Steve Jobs sought for a way to make computer more portable and digitalised so as to serve us better he built Apple computer. and the money came. Bill Gates sought for a way to simplify issues especially during calculation so as to serve the world better he gave us Microsoft and the money came. Richard Branson sought for a way to make travels in the air more convenient so that people can get value for their money and he gave us Virgin Airways. Aliko Dangote, the great man of the African community sought for a way to serve Africans better he gave us Dangote Group of companies that have continued to cater for our Cement, Salt, Sugar, Flour, Juice and Pasta needs and the money came. Okay, what of Mike Adenuga?- The giant man of Telecommunication in Africa. His decision to serve his people was his propelling force to compete favourably with MTN in a market that was already taken. Anyone that ever became rich had a way he served.
Before I finally drop my pen let me ask again, Are You Ready to Be Rich? If you are, then you should be thinking of new ways to serve your generation. There has never been any other better way of becoming rich than through service. Thinking Service Can Make You Rich if you know how to think it.
Thank and God bless you.
Business Consultant l Motivational Speaker l Entrepreneur
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7 Reasons Why You Need a Money Mentor
Do you find it difficult making money decision? Are you looking for where to invest your next income? Or are you interested to know how having money Mentor can help you duplicate your earnings so that you will begin to live the kind of life you have always wanted? Well, there is no other better way of gaining financial education except through money Mentors. So, if you answered ‘Yes’ to those questions above then this article is specifically written for you.
When I am not writing at home, I am in the field sourcing for information and connecting with new class of people. People I know I will need to be a better Businessman. Today, I stumbled on a person I have just decided to use as my money Mentor. In fact, I want to thank him wherever he is now for inspiring this article. After spending few minutes with him, I learnt something very important that would have taken me decades to get by.
Today, I will not only share with you the importance of having money Mentor but I will also show you strategies to getting money Mentors and how to know if a particular money mentor is the best for you.
Nobody can claim to know everything. Even as a writer, I don’t know everything. So to make up for the things I don’t know which I ought to know to remain relevant in my field and the society at large I use other people’s knowledge by simply having them as my mentor.
As an Entrepreneur or would-be Entrepreneur, one of the best thing you can do for yourself is to have someone (whether male or female, old or young, online or offline) who will always guide you in making money decision. Many who started out in their businesses without a mentor today have themselves to blame. Why? They undermined the importance of having a money Mentor, a good financial Adviser and a common sense of decency.
Who is Qualified to be a Money Mentor?
On several occasions, some people like to present themselves as experts in things they know little or nothing about, probably because of the title accompanying it or the financial rewards attached to it. If you are the type that loves to play the game of luck bear it in mind here that luck has never really worked and never can it work when it has to do with selecting a money Mentor. Don’t say I didn’t warn you in advance. Not everyone qualifies to be your money Mentor. J. Paul Getty said; “Seek [financial] advice on risk from the wealthy who still take risks, not friends who dare nothing more than a football bet.”
Find someone who is already successful in starting and running his own business and seek for money advice. Search them out both online and offline. Some of the places you can find money mentors are at Seminar grounds, by visiting their offices or buying books written by those you want to serve as your money mentor.
The most successful business people will be more willing to pass on their expertise. So there is no harm in trying out.
When I think of money mentors I think of men and women who have proved their financial acumen by making a bit of money themselves – and not by inheritance or lottery winnings. If you can find any of them around you that you admire, like I said earlier, approach them to make your intents known.
7 Reasons Why You Need a Money Mentor
1. Money Mentors bring a wider range of experience to the table
2. Money Mentors help you model your business ideas in a concise but detailed form where it can be marketable
3. Money Mentors help you develop a strong passion over a business idea they understood has the capacity to make you a fortune
4. Money Mentors are there to ask you questions that will spark off your seat of thought to action.
5. Money Mentors are good listeners, ready to give their time and attention to questions and afterwards, provides relevant answers.
6. Money Mentors are made men who are independent and will never think of stealing your idea. With Money Mentors the fear of competing with an already established firm is minimized.
7. Every successful Entrepreneur you see today has a money mentor. So if you want to be successful too, then you will need one.
I hope with these reasons you can now see vividly why you need a money mentor? Share your own thought with me in the comment box and as usual, don’t forget to share with friends on facebook, twitter and google+.
When it comes to investing or the right use of your money, who do you ask? You might be tempted due to circumstances on ground to seek for financial advice from anybody and everywhere. As much as this article won’t be telling you specifically who to seek financial advice from, I will indeed do justice in telling you five kinds of people you must never seek financial advice from if you want to be successful.
Before then, who is a financial advicer or advisor? Why do you need one? I am not a Certified Financial Planner but as much as I have known, some of them who present themselves as one teach what they don’t practice and as such, I am more comfortable taking the risk so that I can have a story to tell.
A Financial Advicer or Advisor is a professional who renders financial services to clients. His aim is to help you identify goals to pursue, set an overall financial plan and avoid the avoidable disasters. A financial advicer shows you how best to save, invest and grow your money.
Having said that, let’s go straight into listing out these 5 Kinds of People You Must NEVER Seek Financial Advice From.
1. Poor Person with Poverty Mentality
I hope you know the new definition of who a poor person is? A poor person is not one who has no money in his pocket but one without dreams. The white crude oil in the person’s head is neither productive nor profitable.
Why am I saying this? Dreams are like a huge motivational magnet. They help you through life’s low points. So, what plan executable and profitable in the future can one (a poor person) who lacks dream offer? Definitely, none!
A person with poverty mentality tells you; “don’t quit your job, don’t take the risk of starting your own business. Can’t you see failed businesses around?” Well, that’s the way they talk. They hate investing. So, don’t take the risk of asking such people for financial advice. They are embodiment of discouragement.
2. A Novice
A Novice in this context is someone who does not have Financial IQ. Someone who has no knowledge of the business on ground. Don’t waste your precious time seeking financial advice from such person – it will yield no result.
We will continue this article tomorrow. See you….
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.