Hello finance and economy community, this is my first attempt on this beautiful community, dropping my thought on entrepreneur for better economy.
Just yesterday I met with this young man who does two different jobs, but he couldn't buy dinner for his family, he was so pained that he couldn't hold his tears, I felt for him so much, on the cause of our discussion I found out the two jobs are not upto $70 and an average amount each family in Nigeria can spend now per day is 5-7$ per day, so imagine how this family of six will survive for thirty days with less than 70$ income.
Not just him, thousands of people who reside in Lagos are slaves to secular jobs that can not even pay half of their bills, the funny and exhausting aspect of the whole thing is that the cost of living keeps multiplying daily, just recently electricity bill is now more expensive than house rent, the landlord has increased house rent by 50-100% of the old price, unfortunately, salary never increased, in fact, some still do not get paid after the whole month struggle.
The most painful part is that secular jobs in my country are so time-consuming, in fact, the friend I mentioned above only gets some sleep on Sunday, so we can say he gets less than 30hrs sleep in a whole seven days, the two job takes 24hrs of each day of his life, he's not healthy enough due to lack of adequate sleep but still, he can't provide an adequate need for his family. Too bad
Those jobs will hardly give you time for another thing.
Entrepreneurship is the key.
I have taken so much time to examine the life of entrepreneurs in my country, and I saw that entrepreneurship is just the only way for one to build his finances and enjoy a better life with his family because an entrepreneur allows one to scale your business, make passive income not fixed salary like the traditional or secular job.
The more an entrepreneur makes more sales he builds his business and attempts to gain financial growth.
Most entrepreneurs invest in agriculture, and within a period of one year, you see them making double what they have invested, and that is just the easiest way to build personal wealth.
The challenge.
Becoming successful as an entrepreneur is not really easy, it comes with many challenges, and if one is not determined, the person might easily give up.
I decided to interview a few successful entrepreneurs, and they made it clear to me that succeeding as an entrepreneur is only for someone determined and courageous.
One of them is a farmer who resigned from a secular job to start farming, he said it took him years to build himself, because he wasn't skilled, in fact, he at some point wanted to give up but the thought that his building not just his future but that of his generation helped him not to give up, now hes a very rich farmer and a successful entrepreneur.
The focus
Yes, the focus should be on the future benefits, not on the present benefits, if I had started entrepreneurship five years ago, by now I would have been a better person.
That future focus will help you try different things in different ways, and it will also help you not to easily get tired or exhausted because there is a goal, entrepreneurship helps one to reach financial freedom faster than a secular job.
But the challenge is that most people, especially those who have worked secularly for years, find it difficult to focus on the future benefits, and they are very comfortable with the credit alert that comes in at the end of thirty days, but the accounts turn empty in just a few days after paying bills.
Entrepreneurship always wins.
An entrepreneur has the opportunity to have different streams of income, he has the opportunity to explore many business opportunities, he has the proximity of earning more than what a secular job can pay, and he also has time for more rest.
The economy is so bad because the majority depend on the government to provide for them through secular jobs, but the people who have adopted the spirit of entrepreneurship become richer as the economy gets harder.
Yes, because a skilled worker will charge his clients according to the cost of materials in the market, he has nothing to lose. To achieve his goals, he increases the cost of his services.
A farmer will sell his farm produce according to the price of fertilizer and land in the market so he or she has nothing to lose.
One good thing entrepreneurship does is that it helps one to learn some financial management skills that will help one grow, most successful entrepreneurs where so determined and this helped them to protect the financial health of thier business, they do a lot of budgeting, less expenses and more investment, their major focus is on the business growth.
An entrepreneur can be making 100$ at the comfort of his home, while a secular worker will have to pay for transportation everyday which might take 30-35% of the salary if not more.
The economy and financial system might be so bad but successful entrepreneur will keep on striving.
If everyone can start entrepreneurship, the future will become more hopeful and brighter because majority will become financially independent and this will help the economy of the country.
Entrepreneurship is the key to financial freedom
Thank you everyone.