Owning A Business That Guarantees Quality Of Life
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When I woke up this morning, I was watching a man on TV discuss how to live comfortably despite the ongoing inflation rate in Nigeria. Listening to him speak was abhorrent; he seemed like the type of person who studied business administration or economics in college and was fortunate to land a job.
He scarcely emphasized unemployment, the challenges of finding workable prospects in a destabilized financial climate, or the hurdles to entrepreneurship. All of his suggestions for generating money were merely concepts on paper.
His concepts were textbook-style and only feasible on paper. The only way to now make ends meet in Nigeria is to work your way outside of the system.
For instance, a lot of Nigerians purchase dollars using their own money (Naira). Why? The dollar will always appreciate versus the naira, thus this is a given. This is a strategy to prevent inflation from consuming one's hard-earned money.
How much a person can afford over a lengthy period of time frequently has an impact on their style of living. It's not that they haven't been working hard enough; rather, it's simply that over time, their means of support have diminished, making it more challenging for them to support every element of their lives financially.
Because of this, many are now choosing to put their money in a more stable currency due to the inescapable fall of the naira versus the dollar.
Although this is really clever, I believe it to be the only sensible strategy to increase one's financial situation and even benefit more against the naira. To put it another way, this indicates that in order to succeed financially, individuals must think creatively and take calculated risks.
While business is described as being easy in textbooks, when reality sets in, we realize how challenging it is. I recently looked at some homes online, and they were fantastic.
If I had the money to acquire one of these homes in the first place, I would constantly look at them when I woke up and consider how I could own them and utilize the passive income from the properties to get into Crypto.
Due to my current state of health and the way that working hard to earn a living in a place like Nigeria puts one in poverty, I adore being financially and professionally independent. What confidence do I have that my intentions to use the passive income to buy cryptocurrency will be feasible, even if I now have $30k to spend on a home?
This means that there is absolutely no certainty. In Nigeria, unless their occupations pay very well, those who actively seek employment experience the "hand to mouth" phenomenon.
This indicates that active income is almost never accessible for reinvestment since it is spent to meet urgent requirements. When people have a full-time work, compounding is challenging since it makes it challenging to use their productivity for a side business.
This is how individuals manage to achieve so much while making relatively little money, despite the fact that it's hard to find people whose occupations don't take up all of their time, energy, and effort. Because of this, the Nigerian economy favors those who make more money than they do via active labor.
I've been thinking about a company idea for over three years, and the reason it's taken so long is that, although operating a business appears simple on paper, it may be difficult in practice. A company idea and concept that would sell is necessary to survive in a nation like Nigeria.
I've developed a strategy for my life that takes into account my deficiencies while maximizing my strengths. Although my ideas appear to be well-thought-out on paper, I'm hopeful I can make it work. If you live in Nigeria, inflation may be a concern. Your greatest bets are the dollar and cryptocurrencies.
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