Many of us believe we can create and run good businesses. Good thing. But the reality is that an average Nigerian creates a bad business. A bad business requires you to solely be the only one investing money inside the business i.e. it’s a business that does not create assets.
To create a good business, you must design your business in a way that it creates assets. We all know what assets are, but it is better we have a prior understanding of the 4 primary classes of assets, which are;
- Business: Your business can create assets by creating new businesses
- Real Estates: creating new assets in terms of lands, houses etc.
- Paper Assets: bonds, securities, shares, cryptocurrency
- Commodities: Gold, Silver, Oil, Guns
When they say diversify, to an average Nigerian it means creating other businesses, but diversification actually means diversifying across asset classes.
Look at wealthy Nigerians like Dangote, Mike Adenuga etc. These business tycoons have assets across the 4 primary classes. However, let us take note that they did not build all their investments in the 4 classes of assets at once, they started a business and they were able to grow it into a “good business” that made way for or supported all other assets.
I personally own a business, and since I need to create a good business that creates assets, I decided to invest in cryptocurrency (a form of Paper Assets) with the profits I make from my business.
To those reading this book who are only business owners, I will recommend cryptocurrency investment because it’s easier to manage alongside your daily business and you can easily liquefy it, unlike the stock exchange which takes time. However, to understand cryptocurrency you need to understand the blockchain technology
Enough! Let’s move to blockchain.
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