If you are not feeling the wind now, don’t worry, you will soon get it. Some of us in the IT world were the first hit, my mouth was wide agape when I saw my web hosting invoice for last month.

The devaluation of the Naira is an evil wind that blows no body any good, except for some peculiar people, I will let you know about them later. I heard Baba Dangote lost some serious dough and even some banks are looking at their staff with “one kind eye”.

Well times are hard and may still be, the Federal Government just wanted to devalue the Naira by only 10% but now it’s over 20%, who added the extra 10%, well that same hand may still make it to 25% or more, who knows.

Yes, if every Nigerian will know and implement the recommendations below, we will be fine, I promise, or economics promise.


1. Think Export not Import



2. Patronize Made-in-Nigeria Products:


3.Invest, Don’t Save


4. Become Financially Literate

5. Take Your Business Online

Now over to you, how many of the above are you doing

Source: http://cradleofwealth.com/5-things-for-wealth/

If you are not feeling the wind now, don’t worry, you will soon get it. Some of us in the IT world were the first hit, my mouth was wide agape when I saw my web hosting invoice for last month.

The devaluation of the Naira is an evil wind that blows no body any good, except for some peculiar people, I will let you know about them later. I heard Baba Dangote lost some serious dough and even some banks are looking at their staff with “one kind eye”.

Well times are hard and may still be, the Federal Government just wanted to devalue the Naira by only 10% but now it’s over 20%, who added the extra 10%, well that same hand may still make it to 25% or more, who knows.

Yes, if every Nigerian will know and implement the recommendations below, we will be fine, I promise, or economics promise.

1. Think Export not Import

Forget all those hype about using 10k to start import business, the major flaw in that line of trade is the marketing part. How do you sell when there are cheaper alternatives on ground?

There are still some rays of opportunity in the import business, but for now export makes the most sense.

With the devaluation of the Naira, may countries will be looking on to Nigeria as a cheaper source of raw material and a good investment destination, though some are still afraid, it’s your duty to allay their fears by doing honest business in accordance to best global practice.

Don’t think export is that complicated, just the same way you import, it starts with getting the right information, understanding the process, identifying the key players, networking with the right people, testing the waters, positioning yourself and maximizing your reach.

The best way to position yourself is by getting a cooperate website and or a cooperate identity, stock your portfolio with verifiable information you know your prospects will need, promote it through social interactions, watch the inquiries come in and aim for conversion.

You can get a professional website at a very affordable price here www.cradleofwealth.com/10k.

2. Patronize Made-in-Nigeria Products:

Yes I agree with you that most Made-in Nigeria products suck in quality with respite to their foreign counterparts. Maybe our indigenous producers haven’t understood that Nigeria has the highest buying power in Africa and rank very high in the world.

In my opinion, the more we patronize made in Nigeria products, the more our indigenous producers aim for quality and grow in their capacity.

By doing this, we are strengthening the home grown economy (Local Content) by reducing capital flight and creating job opportunities, cushioning the effects of retrenchment, downsizing and austerity measures. Yea, it’s time to “rock” the ABA-MADE designers with no apology, they will have cause to expand beyond Nigeria now.

3. Don't Save; Invest!:

Looks like an Irony right, but that’s the truth, the money in the bank will continue to depreciate with the falling economy, but if you invest wisely now most businesses are downsizing, selling off or liquidating, you will grow with the next wave of economic boom.

If you must save, (I don’t know why), you should convert the cash into dollar or any other strong currency.

In times of economic down turn, people tend to panic, sell off the extra cars, sell of the business that is going down, or anything that may not be making money at the moment, buy them if they are assets, don’t take pity while making the bargains, go as low as possible, you will get things at ridiculous prices. Remember to close the deal as fast as possible.

People will be hungry, they will sell off stuffs, lands, house e.t.c buy them, get virtual contracts online and hire people to execute them.

Don’t forget to invest in people too. At the end, only buy or invest in Assets not liabilities (luxury)

4. Become Financially Literate:

A financial literate is one who knows the difference between an asset and Liability (Carpenter’s perspective), you should be able to recognize them, appraise them and buy or discard them.

It’s time to read, it’s time to attend lectures and seminars, it’s time to study, yes, study about money, know very much about the economy, appraise investment opportunities, and invest in the passive income quadrant.

You can’t be a financial literate overnight, you have to start from the basics, the book “Rich Dad, Poor Dad” by Robert Kiyosaki will set you in the right frame of mind. It’s not late to get started now.

After every economic gloom, the economy of a state raises again stronger than it was, , old players who lose their footing are laid aside new players with higher financial intelligence make it big. Only the financial genius rise stronger with the economy, are you one?

5. Take Your Business Online

Yes the slogan is “globalize the local and localize the global”. The simplest window to going global is through the internet. You don’t have to own a complicated website to be online, you can start with your twitter or facebook profile, you can start from Nairaland or any other forum website.

When you get your footing and understand how the internet works, you can then step up your game and go for a website, don’t see owning a website as a complicated process. Just see it as your business “Curriculum Vitae” that is online.

Prospects what to know about you, about your product and or services and how they can patronize you, your website serves that purpose.

You can get a standard, professionally built and designed for conversion for just Naira N10,000.

We are currently running a promo aimed at getting 100 businesses online before the end of April, be part of this move with numerous benefits. Checkout the offer her: www.cradleofwealth.com/10k.

Now over to you , How many of the above are you doing.

Quite useful

SuperSuave:
Quite useful

Which are you doing

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Oya read and comment.

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Thank u bro!

macandy21:
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