I started a thread on Nairaland 2 years ago which makes me money every month.

No promotion, haven’t touched it in almost a year, and still makes me coffee money.

Here’s what I have learned about earning your own income on the internet.

Value

Your job as an entrepreneur is to create value. Not make money. Money is just a byproduct.

People don’t pay you by how much time you spend working. You get paid by how much value you provide to the person you’re trying to help.

How to create value

Do things people don’t do. ($)

Example: People don’t sew their own T-shirts. Sew T-shirts for people.

Do things people won’t do. ($$)

Example: Start a T-shirt brand.

Do things people can’t do. ($$$)

Example: Build a successful marketplace where people can design and sell their own T-shirts.

‘You get paid in direct proportion to the difficulty of problems you solve.’ - Elon Musk.

Money

You get compensated with money when you create something valuable.

You don’t provide value, you don’t get paid.

If you provide value at scale, your income will scale too.

1000 true fans

In order to make N10,000,000 a year, you need 1000 people to pay you N10,000 annually.

You don’t need a lot of people to earn a decent income.

There’s a lot of money flying around

Trillions of dollars are transacted online, everyday.

The internet has made the world smaller. Yet, it’s expanding everyday. The world is getting richer and every day you have access to more people.

Here’s the deal:

There’s lot of potential income if you start a business in your neighborhood.

There’s even more potential if you start a business on the internet.

On the internet, you can find 1000 people you can help who will pay you for the value you provide.

Recap:

/Entrepreneurs provide value for others

/Only valuable things get compensated for money
The difficulty of the problem you solve determine how much you are compensated

/There’s massive amounts of economic activity happening everyday around you

/You only need a small amount of that economic activity to flow in your direction to make a decent living for yourself

If you live the value for money mindset, it’s easier to get started in entrepreneurship, and own a business that gives you the lifestyle you want.

Hasta la later

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Nice and inspiring write-up.

nailed