yashika:

yme, ( and the house) pls can anyone tell me what kind of business on can run or do with 300-500k in a place like ph.

Look around you, there are alot of things you can do. depending on your passion, find a business you can do.
PH is one of the best places to do business in the Niger delta.

Ibos do the trading while yorubas are incharge of transport.
The indegenes sit idle and collect rent for old houses
so certainly there will be space for you.

I have seen people make money from such little things as supply of sand to building sites.
I was shocked when i saw a woman being given a cheque of over 100K for supply of plantain chips in just one shopping mall recently.
With the myrad of hotels and fast food cetres all over ph, even supplying them bottled water with that money will give you good ROI.

Wow! I did not expect this huge response when I first created this thread. And I must say the replies have been very educating. I believe that one size does not fit all and what is one man's poison may be another man's meat. There are some skills necessary for being a successful entrepreneur and others necessary for being an employee. An anlogy: No matter how disciplined, smart, nerdy, entrepreneurial, holy or anything Bill Gates is, he will never be a better dancer than Micheal Jackson, if he does not have the right combination of talent and character to be a successful musician/dancer. In other words, I believe that despite the many benefits of being an entrepreneur, there are a group of people that have the right combination of talents and character to be successful entrepreneurs. Agreed, the temperament for being an entrepreneur can be learnt, but that can only take you so far. So I believe a person has to weigh his/her abilities in terms of entrepreneurial endeavors before jumping on the band wagon. I will rather be the second-in-command to Bill Gates than the owner of an ice-cream shop in Lagos. Other opinions welcomed.

beejaei:

Wow! I did not expect this huge response when I first created this thread. And I must say the replies have been very educating. I believe that one size does not fit all and what is one man's poison may be another man's meat. There are some skills necessary for being a successful entrepreneur and others necessary for being an employee. An anlogy: No matter how disciplined, smart, nerdy, entrepreneurial, holy or anything Bill Gates is, he will never be a better dancer than Micheal Jackson, if he does not have the right combination of talent and character to be a successful musician/dancer. In other words, I believe that despite the many benefits of being an entrepreneur, there are a group of people that have the right combination of talents and character to be successful entrepreneurs. Agreed, the temperament for being an entrepreneur can be learnt, but that can only take you so far. So I believe a person has to weigh his/her abilities in terms of entrepreneurial endeavors before jumping on the band wagon. I will rather be the second-in-command to Bill Gates than the owner of an ice-cream shop in Lagos. Other opinions welcomed.

oga , dat's what I am trying to tell them oh,

My people, there has been good contribution from since this thread started.
I refer a friend to read through all the comments here becuase he just lost his job at intercontinental bank(though cross from uba to intercontinental, he regrets his actions) am surprised he rides honda EOD 2005 i think still resides in a 300k apartment, now he is broke want to start cafe biz.
My people the truth of the matter is that it is not easy for people who earn good salary to leave their comfort zone and start something small, but my friend is learning in a hard way now.

entrepreneurs build empires and in a country like nigeria,their bestest of leuitenants will forever be second fiddles.good example,a guy starts a business in 1980 and though small it begins to make sense especially after lasisi a very trusted second in command joins the venture putting in toil,blood and sweat like he were the owner of the business,however he only has an ond from yabatech.

Bimpe,our entrepreneurs first daughter is born in 1983 when ground still never level and they live around mafoluku in oshodi.fast forward to 2000,some zenith bank chick sees the business potential while luring our oga for his account seeing his turnover is in the hundreds of millions but sitting pretty in afribank and so she tells some pwc alumni about creating a business plan for oga meanwhile they now live in gbagada estate and bimpe just finished from airforce and on her way to a university of london college after a levels.lasisi still very faithful.

the pwc guys package the company tight for a hefty fee ,oga ships his account to zenith where he gets more money to expand his business,but the restructuring introduces more educated,younger and technical savvy people but since lasisi cannot be sacked ,he is made purchasing manager while he has a lot of superiors in his reporting line to oga.

2009 bimpe is through with  uni and masters and without thinking twice her dad makes her the e d operations.thank God she is brilliant and has been well schooled because her first management meeting outlining her vision for the business silenced all wagging tongues.

lasisi felt left out and frustrated especially as he knew all that was to know about the business and could never work for a girl he attended her christening.not long after he announced his retirement which made our entrepreneur who by now is a billionaire both happy and sad.happy that bimpe would have easier passage,sad lasisi was part of his success story.however blood is always thicker than water and so lasisi was paid off and started a rival business at almost 55.

lasisi is not hungry but after a few deals on his own he came to the conclusion he had wasted the last 15 years of his life.if he had ventured out earlier maybe at least one of his children would have had the privilege of a private university education talkless of schooling abroad.

steve ballmers and michael eisners are produced by a system which rewards attainment of set goals with part ownership.nigeria is however not yet there and believe me it is a fairy tale existence equating being an agm with job security.

and if you still doubt me,just talk to all the ogas that were recently laid off in all the banks.

to all those asking for ideas,i could help later in the day cos i hav to dash out but whatever you do,pls dont start a cafe business especially if you intend to serve the internet.your money go just disfarahan trust me.

Being your own boss is the same feeling as having unending multiple orgas.s

Best feeling eva 

There is no gaying saying that Its paramount to have your own business. Having said that its not going to be a smooth ride. As you will be faced with a lot of challenges, but if you know what you want, with determination and second to none dos and don't (including formal training)of what makes a successful Entrepreneur.
The sky will be the beginning.

You might want to take a look at Cornea consulting Entrepreneurship and Business Planning training here http://www.cornea-consulting.com/

It is not only important, it is the only important thing. Be your own boss.

It's all very well to refer to Michael Eisner and Steve Ballmer as examples of successful employees. Those guys fall into the class of the Professional CEO/Minister/Super-Permanent Sec, the chaps who move from empire to empire, and pick up millions of dollars in Golden Handshakes along the way. We also have a few of them in Africa, especially Nigeria. To be one of those guys is as difficult as starting your own business, possibly even more, as these guys are Fast Trackers, and have some solid backing from somewhere.

For the regular you and me, we have to hustle. There's no getting around this. Else eventually, frustration awaits us in our twillight years, as we sit idle, and frozen, and ponder on what might have been.

For me, entrepreneurship is all about productivity, and moving Nigeria forward, creating jobs for youth, solving society's problems, making a difference. The world's greatest entrepreneurs usually do not go into business for the sole reason of filling their bellies; they are seeking a legacy. And nine times out of ten, they eventually succeed.

Most of us know Arisekola, the friend of politicians, the man we love to hate. But how many of us have heard of Lister Group? Auto dealership, Flour mills, etc. This guy had always been an entrepreneur. If you think some military boys just stumbled on him, and liked his tribal marks, think again. Arisekola has always been a business player. Likewise the Kalus, Dangotes, Tinubus, Otudekos,etc. Love them or hate them, they control their world. Even yours.

the stock market in the last decade taught us all to be in a hurry and i must admit i got on the too fast too soon syndrome as well,but history has shown that persistence and perseverance are part of the key building elements to a successful entrepreneurial outing.reaping the sown seeds of toil and sweat take time and sometimes years.if you are in a hurry to make money,pls dont bother cos in the real world you would need to create a market for whatever it is you want to do and after that you would need a solid reputation cos it is easier for people to replicate what they have seen work than implement their own idea hence competition intensifies the moment you are successful e.g the dry cleaning business.

ascending to the top is not sure for anyone in this generation [25-35] though it is very possible.chances are few.e.g if you get a job in a good place say gt bank,the guy there is at least doing another 3 years after which his deputy would come and do his own 10 years.by now you have done 13 years.how many e.d slots do they have at best 4-6.which means the best all the ogas in gtb can be in13 years is an ed except they change jobs.

the current deputy leaves and a new md is appointed and soon some other eds have to leave because of age and the need to inject fresh blood into the system.the cycle goes on and on and you can never compare stepping down from a company you co founded with leaving when your time is due in say a gtb.you dont retire and die the next day so what are you to do with the rest of your life especially if you are a guy

@ beejaei

Wow! I did not expect this huge response when I first created this thread. And I must say the replies have been very educating. I believe that one size does not fit all and what is one man's poison may be another man's meat. There are some skills necessary for being a successful entrepreneur and others necessary for being an employee. An anlogy: No matter how disciplined, smart, nerdy, entrepreneurial, holy Grin Grin Grin or anything Bill Gates is, he will never be a better dancer than Micheal Jackson, if he does not have the right combination of talent and character to be a successful musician/dancer. In other words, I believe that despite the many benefits of being an entrepreneur, there are a group of people that have the right combination of talents and character to be successful entrepreneurs. Agreed, the temperament for being an entrepreneur can be learnt, but that can only take you so far. So I believe a person has to weigh his/her abilities in terms of entrepreneurial endeavors before jumping on the band wagon. I will rather be the second-in-command to Bill Gates than the owner of an ice-cream shop in Lagos. Other opinions welcomed.

If you can be second in command to Bill Gates what's stopping you from being first in command? My point is you need to have an entrepreneurial mindset to make it that far. And by the way, Bill Gates started from a position way below that of an ice-cream shop owner in Lagos. My first biz has led me to start a second and I hope I never work another job till the day I die.

Reading through all of this, I am surprised that much of out thinking is still centered on outdated models of Entrepreneurship.

Yes, gone are the days when entrepreneur  is one man business. Gone are the days when entrepreneurship primary goal is to make money or get financial freedom. Gone are the day when a tree can easily make a forest or a man can be an Island. Today's business/economic system falls out of sync with these models.

The definition of entrepreneurship has now been streamlined  -  The science of Adding, Subtracting, Substituting, Multiplying, dividing, Integrating and differentiating for the sole purpose of minimizing cost, maximizing outcomes and optimizing performance of goods and services. (Which kin gramma be all this? ). Put simply, entrepreneurship is the art of creativity and innovation and these simple mathematics tools can be helpful in leading the way. Happily, unlike leadership (some who are saying financial freedom are the one who will likely deny/delay their workers of wages at the end of the month - A branch of bad leadership), creativity and innovation can be learned with time.

It is important to note here that while creativity and innovation can be learned overtime, it needs a culture or an environment to thrive. That environment is made up of collective minds. That is why it is said in the western world that creativity and innovation resides within groups. Where is group entrepreneurship? Today's economic environment welcomes group entrepreneurship than the old aged lone-entrepreneurship. Withing this groups ideas, resources and strategies can emerge not only for venturing but for successfully implementing entrepreneurial ventures. The complexity of the business environment can hardly be captured in one mind. Meeting of minds can make the difference. This makes entrepreneurial success difficult in Nigeria. Yahoo,HP,Google,Microsoft(In its early days),The Jackson 5 and the likes were products of disciplined group entrepreneurship. Even business giants like Virgin (Richard Bronson), Wal-Mart and Dangote build fora for Intrapreneurs (Entrepreneurs employed within business organizations) to meet and creativily defined the future of the business.

Let me quickly leave a point here. Small business? My dear, no business can afford to be small these days. Remember how we got water to drink when away from home back in the 80's and early 90's? It started with a boy or girl with a bucket of supposed clean water and a cup to fetch it for drinking (I cannot remember how much a cup of water cost then). Then the one tied in cellophane came into vogue. Today, compare the "Pure Water" business. I can assure you too that many who sold in the 80's and early 90's are not the ones holding the package water business today. The model of small business is dying if not dead.

That said,let me point out here that unfortunately, the quest for financial freedom is the first killer of long-run entrepreneurial success. Financial freedom seekers do not have the patience to grow start-ups and in a partnership, they are the first to cause a split. Still unfortunately, Nigeria has more of financial freedom seekers than those who are not. Even in already established businesses, profit and creativity do not agree at least in the early stages of creativity and innovation. That is why HP has a center were all the work done there is creation of new ideas and testing. The other centers are for producing already created new products. the profit oriented managers cannot take the waits, wastes and work that go into creativity itself. Profit oriented managers cannot even lead creative people. That's an established fact. That is why during the first stage of the creativity in entrepreneurship, the financial freedom mental model is a demon. It runs contrary to the primal essence of entrepreneurship.

Moreover,many Nigerians have viable business ideas, products and services in their heads. So are many who have no ideas, no products and no services in their heads but have the finance to move these ideas,products or service. Many do not have the work skills to efficiently bring ideas, products and service to market. Yet there are many who have the skills but without finance, ideas, product or services to apply them. All these are because we want to go into entrepreneurship, almost often, solo.

Can we change our mentality to seek work first and not wealth in entrepreneurship? Can we do more to look into seeming impossibilities and constrains and find solutions to them creatively? Can we find were the simple mathematics tools of Adding, Subtracting, Substituting, Multiplying, dividing, Integrating and differentiating can help in generating business ideas. Can we accommodate the model of group entrepreneurship in our quest for work? Can we understand that there are no miracles in entrepreneurship but hard mental and physical work? Can we understand that in entrepreneurship, you cannot say it and it will come to be - (PastorChristisism no dey o)? If more Nigerians can come to reality with these questions, then we can see entrepreneurship thrive in Nigeria.

Please do not get me wrong. I have only argued here that financial freedom should not be the first reason for entrepreneurship. Interestingly and fortunately, viable creativity comes with financial returns. So let creativity pull entrepreneurship and not financial freedom or the joy of owning a business or the freedom from a boss pulling entrepreneurship.

Additionally, I have argued for group or joint entrepreneurship. This may not be very easy here in Nigeria because most of us are greedy or have to much responsibilities that need money. Or have a super-flux life style (How many successful entrepreneurial ventures have flashy life styled originators? Bill Gates?).

For further reading, I wish to refer persons to:
1. The Discipline of Innovation - Peter Drucker
2. Bootstrap Financing - Amah Bide
3. How Entrepreneurs Craft Strategies that Work - Amah Bide
4. Spark Innovation Through empathic Design - Dorothy Leonard and Jeffery Rayport

All are published by Harvard Business Review.

Here is an example of easy start up business.
It requires little Capital to start an online business but you sure need a lot of hard work both online and offline.
Interest in that particular field is also important.
www.naijacardeals.com

Oyb, I think I know this guy. Lol! I'm not surprised at his success.

If it is know I think it is. . . . . I always thot he'll make it as a rapper. Good for him though!

I agree with Ajanlekoko, he's got a point there.

Inasmuch as entrepreneurship is quite difficult, and the "Nigerian situation" is peculiar, nothing can hold back the mind that is determined. Somebody said we don't have many people here in Nigeria who started with nothing and ended up with much. But we can create those stories. And i intend to do just that. That journey might be long, but i must get to my destination.

Starting with my family business which i intend to expand, i hope in the next few years to bring about a "seasoned" business, giving quality and helping my clients achieve their aims.

Being entrepreneural can change a lot of things. I encourages advancement. It encourages innovation. And this country will definitely need more innovative people. I intend to take my web development business, Sigma Transaction to higher levels, and indeed, i would love to have even more entrepreneurial people doing the same with me.

It can be hard juggling a job and personal business, or studies and business. But the rewards are much for honest effort.

when r we going to learn take cue from america the enterpreneurs we have there today faced the problem that we are facing today but that did not deter them.have u stoped to ponder if those guys decided to allow the state of the nation discourage them we wont be enjoying some of the many things that we are having acess to.it is really very bad that we r so brainwashed by our parents that we should just go to school and read and read forget everyother thing then when u graduate u dont know ur self and u cant get a job then there goes ur parents blaming govt if u dont get a job very soon.look if we dont change this mentality govt will keep taking us for a ride.if u want to be an enterpreneur be bold take risk cease the opportunity dont wait cause only 1-10% of the pple around u will encourage u.

simply put there is nothing as good as being the boss ur boss ur own boss of ur own business

That's the main Koko for any REAL man;owning your own biz,you'll never get fired and it gives you that psychological
boost

Okay…I just stumbled into the thread and frankly only waited to read because of the familiar names that makes NL a place to be all the time…

History has shown that the greatest business ideas were created in times of economic decline and recession…No wonder the popular saying that ‘necessity is the mother of invention’.

@Ajanlekoko…Sir…the reference is deliberate because I’m sure u are way older than me…All the same, look ‘he that is down needs fear no fall’ your friend had nothing to lose because he had nowhere to go to. Indeed, his choices were limited and he had to make sure things worked out for him.

The danger for us all is the tendency to stay in our ‘comfort zone’ and assume all will forever be well. ‘oyb’ mentioned the plans he had to write books in the past…Friend, you can still pursue those plans. It’s not too late…Chimamanda of the ‘Purple Hibiscus’ fame was set to become a medical doctor when she switched and decided to follow a passion in writing.

I have a friend who attended the same primary school with me who is now one of the largest suppliers of snails in Naija….She vowed not to work when she completed her university degree. The other day, she told me her Personal Assistant (PA) was resuming the week after…

To the friend who wants to be next to Bill Gates…I urge u to prepare ur mind for a new generation of work place that demands that you work as an entrepreneur. I know a lot of companies in the US now that have incorporated ‘entrepreneurial thinking’ into their performance appraisal yardsticks. The constant question is what value are u adding to the business…What do we lose if we allow u to go somewhere else?

Bottom line, we must resolve to pursue our dreams and not rely on the paid employment which may not be there tomorrow for all we know. (Case in point is the gale of bank sacking these past few months). I have always said this…Any banker who can meet his target of Bleep MM should be able to raise xx MM for his/her business idea.

For the friends who are looking for business ideas…I will turn a bit and ask that u go the divine way….Pray about this and then take a break to somewhere silent…A vacation to the ancient city of Ilorin or a drive down to Epe (I think there are still some quiet resorts there) will do it….Think through and determine where your strengths are…Think through a man’s life through each day…U wake up in the morning….have a bath (i.e. use water, soap and sponge), dress up wearing clothes and accessories such as ties and cuffs…Head out driving ur car or car pooling right….Get to work and take a cup of coffee or tea…buy a muffin or pastry brought in by Bleep caterers…Do your work using ur laptop, a computer, stationery etc…Call ur better half…Take lunch …and so on…,

If you catch my drift and complete the next sets of tasks till u go to bed at night…u would have identified 30 different business opportunities that you can go into…in Naija and make very good money….

Finally, do not give up…Follow through and be willing to learn…Successful entrepreneurs are celebrated but the challenges they faced and insults they received along the way are often relegated to the back burner. I hope this helps…

WHY SPEND YOUR LIFE WORKING TO BUILD SOMEONE ELSE'S DREAM,why not work to build ur own?!?
I have some materials that shows how some people earn $10,000 a year while other people earn
0ne million dollars a year,YET THEY BOTH HAVE 24HOURS A DAY!
If you are interested i can share this information with you, Call 07039696656.

Being self-employed is good, but I'd do it as a back-up, or alongside regular employment.

As a man, I need to keep my wife and family happy. Women love security, and it's nice for them to know each month, you'll bring home a fixed amount from regular employment. If you rely on just self-employment, it's a bit more complex - one month, you may well bring home £3,000, the following a mere £800. It varies, so if you choose to be self-employed alone, my advice is you have at least big savings, so when times are lean, you have something to fall back on, till things pick up.

Self-employment can be very rewarding, but it also comes with a lot of responsibility, and dedication is the key. Your accounts can get into a big mess, if you're not good with admin duties. Some people have brilliant ideas, but are poor business men / women, which is the reason a lot of businesses fail within their first two years.

@wilife

Thank you for contributing to this thread. God bless you. Cheers.

kushe:

entrepreneurs build empires and in a country like nigeria,their bestest of leuitenants will forever be second fiddles.good example,a guy starts a business in 1980 and though small it begins to make sense especially after lasisi a very trusted second in command joins the venture putting in toil,blood and sweat like he were the owner of the business,however he only has an ond from yabatech.

Bimpe,our entrepreneurs first daughter is born in 1983 when ground still never level and they live around mafoluku in oshodi.fast forward to 2000,some zenith bank chick sees the business potential while luring our oga for his account seeing his turnover is in the hundreds of millions but sitting pretty in afribank and so she tells some pwc alumni about creating a business plan for oga meanwhile they now live in gbagada estate and bimpe just finished from airforce and on her way to a university of london college after a levels.lasisi still very faithful.

the pwc guys package the company tight for a hefty fee ,oga ships his account to zenith where he gets more money to expand his business,but the restructuring introduces more educated,younger and technical savvy people but since lasisi cannot be sacked ,he is made purchasing manager while he has a lot of superiors in his reporting line to oga.

2009 bimpe is through with  uni and masters and without thinking twice her dad makes her the e d operations.thank God she is brilliant and has been well schooled because her first management meeting outlining her vision for the business silenced all wagging tongues.

lasisi felt left out and frustrated especially as he knew all that was to know about the business and could never work for a girl he attended her christening.not long after he announced his retirement which made our entrepreneur who by now is a billionaire both happy and sad.happy that bimpe would have easier passage,sad lasisi was part of his success story.however blood is always thicker than water and so lasisi was paid off and started a rival business at almost 55.

lasisi is not hungry but after a few deals on his own he came to the conclusion he had wasted the last 15 years of his life.if he had ventured out earlier maybe at least one of his children would have had the privilege of a private university education talkless of schooling abroad.

steve ballmers and michael eisners are produced by a system which rewards attainment of set goals with part ownership.nigeria is however not yet there and believe me it is a fairy tale existence equating being an agm with job security.

and if you still doubt me,just talk to all the ogas that were recently laid off in all the banks.

@kushe
Thanks for this practical example. Some people are still living in the fairyland.

Hiding ones head in the sand thinking that the truth will go away is simply stupid. You can't MIND OTHERS BUSINESS FOR EVER! Whether you like it or not, you need to learn to Mind Your Own Business. The best time to start is while you are still employed, so that if you loose one month salary in a bad investment or business startup, you will be able to recover. For those thinking that a career in a good company will guarantee their retirement years, they are in for a very big surprise. The earlier you start learning the risk road entrepreneurs take, the better for you.

If you are confuse on how to go about starting a business or the idea to work with, the following article will help you Ten Tips for creating business ideas. Believe it or not, you need to move out of the rat race and stop depending on JOB. You will truly become wealthy when the passive income you generate becomes more than adequate to cater for your living expenses.

One of the big disadvantage of JOB is that the day you stop working, you stop earning! Just think about it. It is better to see your JOB as an opportunity to learn and groom yourself so that eventually you start minding your own business instead of waiting to compete with the children of the entrepreneur that employed you. Kushe was right, blood is thicker than water. You will simply loose out. It is either you are fired or you become tired and retire by yourself. Either way, there is really nothing you can hand over to your own children. Think about it.

I'm passionate about entrepreneurship. It is the way to go!

For me, its business or I die. Serious!

I hate paid employent and all issues relating to job security with a passion. I
prefer the risk, hardwork, tension, uncertainty and sometime reward of starting
and running a business.

There are many ways to earn a living ;according to Robert Kiyosaki (a financial educator),in his Cashflow Quadrant,
the way you know which quadrant you belong to is simply from which quadrant your cash flow
The 4 quadrants are:
E- as an employee you want a regular paycheck ,that will give u security,stability n pension

S-a self employed or small business owner wants to do his own thing,wants independence
they usually employ a few people to work for them,but they are the ones who makes all the
decisions;its a solo act.

B-big business owners have alot of pple working for them,a team of specialist that can make decisions while
he is not there,a big business owner use his money to work for him'

I-an investor invest in many things;real estate,franchise etc

If you are working hard and not getting ahead financially,you dont have to change jobs,you might want
to change your core values and thereby changing your quadrant.

This is one of the best threads in nairaland. Its yet to be hijacked by miscreants. Thanks to landers like Kushe, Ajalenko, NaijaECash for their contribution. I work in a bank and I can tell you that the closest thing to hell on earth is being sacked without substantial saving or a parallel business running concurrently with your previous job/ex-job. No matter how small its good to setup something that will be giving you something every month alongside your salary.

Business Ideas
1. Barbing Saloon (Good site, good price, moderately[not excessively] furnished)
2. State Taxi (On High purchase)
3. Ice block machines
4. Haulage
5. Real estate(works good if u have buoyant contacts)
6. car leasing(location dependent, eg P.H)
7. Services


Good luck peeps. If you are "salaried" as a resolution this year, plan for an alternative source of income. If you are self employed, keep working hard. You will reach your goal.

Peace and Out.

Tight thread.
Permit me to chip in me two bytes of wisdom.
I'm not an entrepreneur yet, but I'm grooming myself - to start thinking like one.
A very wise person said "Money is simply a reward for solving a problem" : meaning if you don't have money you're not solving a problem or you're not solving it for the right person.
I studied engineering so permit me to be a little scientific (viz-a-viz, exact laws).
Matter - anything that has weight and occupies space. Currency - "something that is used as a medium of exchange; money. the fact or quality of being widely accepted and circulated from person to person"
Now moving on. Much has been said with respect to the need for the entrepreneurship spirit to move this nation ahead. But I'll like to chip a few things.
A Historical perspective.
Its been understood that the wealthiest of men were landowners from time immemorial till about the 1600's. Wealth was agrarian - mainly based on agriculture. This was marked by men having many wives having many children, thus having a home-grown workforce. After the invention of the steam engine and the printing press, large families became a liability. Families became more nucleated. People no longer settled primarily around fertile ground watered by flowing streams. They settled around factories. [The 'projects' in New York was the result of factories that shut down and the people lacking transferable skill]. Wealth went to factory owners, inventors and innovators. Things took a turn again at about the 1960's with the 'invention' of the Internet by the US military. Information has since become the commodity of this age. People into Forex would understand. Thus, people that have timely access to information brought about by the ease of communication. Point - it is important to know the current state in which wealth exists around you. The work is in knowing how to change its state.
You can carry water in a balloon, in a basket or in a bucket. It only takes knowing when to freeze it, or boil it as the situation demands by the application of the right amount of energy.
I started by defining matter and then currency.
I will raise dust by raising this assertion but here goes: Money is currency, its a form of capital, it is not capital
Capital is "that which you inject into labor that makes it more productive and produces surplus value. It is the invisible life within an asset or that which can be extracted from an asset which gives more life to labor and makes it valuable."
Before, I start getting flamed and becoming the object of tonnes of hate mail, please take a few minutes to think about that statement.
Up until the mid-70's i think, the USD was backed by Gold value stored away in air-tight Forth Knox. Now the value of money has to do with its currency. Think of it, life is about exchange. Carbon Cycles, Nitrogen Cycles, Ecosystems. The work is in adding value to what is being substituted and value is relative.
I'm open to correction if there's anything amiss in all I've said. Cheers.

Starting your own thing is not as important as knowing the business in the 'thing' you want to do.

When many encounters what is called "the entrepreneurial seizure", they feel its time to start my own business. Really, there is nothing wrong in running your own show, but it is important to determine what you want to be: an entrepreneur, a solopreneur, a small business owner or a technician.

When you determine what exactly you want, then it becomes easy to work towards it.

Having control of your time is great, nothing like it. But it has its hard-bumps.

All in all, as much as it is important to have streams of income, it is twice important to note that we all cannot be entrepreneurs. Some are born to be employees, some technicians, etc.

If you have a good job and you have the all important "job and financial-fulfilment", and can manage one of two other businesses by the side, why resign? The message here is, it is great to own your own business but after getting the requisite training/knowledge. If not, hold on to your present job, well well.

Which ever way we look at it , it is better to own your own business.
However, you need to prepare yourself for it because the challenges are enormous.


For experiense and money if you work for somebody it is good and perfect but we must  imbibe  having our own business.

-The first thing you need to do is to generate an idea that can work.
-write a business plan on our you can carry it out.
-then pursue it with vigour and you will soon be there.

it is not easy anyway but with determination you can do it.

cheers!

it is the greatest thing that can happen to u,at initally,it might be tough but if u continue doing the right thing u will enjoy the ride