Hi Dear Reader,

Do you have another income stream besides your salary? If not then this is for you.

But if you do, you still need to read on, because the real secret to wealth is to have more income sources than expense sources.

Let's start this by first of looking at 10 reasons why you need to have another income stream besides your salary.

1. Stuff happens. I'm not talking of even car accidents now. it could just be an elderly member of the family diagnosed with cancer or some other critical illness. These things happen and often require large amounts of money and your salary will just be insufficient to carry the cost.

2. Job insecurity. Before we talk of job security but now its no more true cos our universities are churning out first class and 2.1 graduates faster than you can find a new job. And thats at least 10 people willing to do your job for less than you are being paid now. what's keeping you on your job is the fact that your employer hasn't tried looking, !

3. Employer Domination. Because your employer pays your salary and knows you have no other income, they tend to want to dictate your life. they ask you to come to work at odd hours and days. I've found that employer typically are more respectful of their staff members that are wealthy and do not depend on the salary they are paid.

4. Relaxation? too expensive. The reason the average nigerian doesn't vacation is the cost. its too expensive to really travel to ideal holiday vacations. Frankly, they are not expensive, you're just not earning enough to afford them.

5. Children, someday. Children cost a lot. Ask your parents. You can't feed your family on just one income source, i can assure you.

6. Money while you sleep. For most of us, the bulk of our money comes while we're awake and at work. Really rich people make money while sleeping from having businesses that do not require their constant involvement/participation/attention to do well. Beyonce makes so much from CD sales, which do not require her attention. Same with Dangote and Otedola, they make money from you and I driving to their filling stations at night, buying a Dansa fruit juice while going home stuck in traffic. We drink, they earn. We fuel, they earn, we listen to music, they earn. What is working for you while you sleep?

7. One more secret from the wealthy. Do you really think you can become rich working for someone? You can never be richer than the person you work for. No employer can pay you more than he pays himself. The only way to assure yourself of constant promotion and better pay is to work for yourself or at least do something that works for you.

8. Trends are changing. Certain industries are becoming less important in our time. In the next few years, it could be an industry you're in or you have some interest in. So you need to have your hand in many pies.

9. God says so. If you believe in the bible, then read Ecclesiastes 11 from verse 1 to 2. It says "Cast your bread upon the waters, for after many days you will find it again. Give portions to seven, yes to eight, for you do not know what disaster may come upon the land." And he doesn't suggest just one or two, he says 7 or 8. In the book of beginnings, the first mention of a river that nourishes a garden tells us the river has four tributaries, meaning the garden needs to be nourished on all sides.

10. Because you really do need it. Seriously, you really need to have another stream of income so you can spend your money the way you want.

Do you have more reasons? Let's discuss further.

cheers

Hi Everyone,

Its been another great week. I hope you found time to read the previous article.

You need another source of income. Do you know the truth - you need at least 4 sources of income, !!!

4 is the number of stability. We speak of the four corners of a house, four cardinal points of the world and 4 tyres of a car. 4 means balance, stable, well grounded.

As an individual, to be stable and well grounded in life, you must have 4 sources of income at least. And i'm not talking 4 businesses. i mean 4 categories.

1. Regular income (monthly/weekly/daily) from a job/business
2. Income from a business (unspecified)
3. Income from financial investments
4. Income from real estate

Regular income to pay for regular bills - utilities, food. transport, generator fuel, rents and your own staff (driver, laundry & maid) salaries

Unspecified income from doing business - which when very large should be invested in financial instruments or land and when small, reinvested back into the business.

Income from financial investment - should feed more investments and land upgrades - construction, renovation or just go back into more investments in stocks, bonds, debentures, treasury bills, fixed deposits, forex, commodities etc.

Income from land - should be invested in acquiring more land or more investments.

These 4 categories of income will make you a wealthy man if well managed.

Dont say i dont have the time to do business with my kind of job. Find a business you can do with your kind of job. The truth is if you're not lazy, there's no job you can not merge with some business. I assure you. I've worked various jobs but i've always found a colleague or someone on the job still able to do business.

Do you know what business you want to start already?

Dont delay. start today. Often you'll find that if you dont move today, by tomorrow someone has replicated your idea and is making money off it.

MOVE TODAY. START NOW. GO FOR IT !!!!!!!

Hi 2cesharp, that was a beautiful inspiration package. Thanks , God bless you.

Fellow Naira landers, are you reading? Let us take action today.

Hi 2cesharp, that was a beautiful inspiration package. Thanks , God bless you.

Fellow Naira landers, are you reading? Let us take action today.

thanks ejiogbe - hope you're acting on it as well.

Today we're talking about 'What kind of businesses can you do while still working?'

I'm only going to provide a list right now. Later on i'll go into details and share some experiences of people that are actually doing this businesses while still employed as bankers, analysts, consultants, engineers and all sorts everywhere.

1. Dry-cleaning
2. Party rentals
3. Party Drinks supplies
4. Real Estate Agency - sale and rental of property
5. Creche
6. Supermarket
7. Grocery Store
8. Frozen foods store/Meat mart
9. Small Business Consultancy - feasibility studies and business reports
10. Fashion supplies

There are several more. I'm sure we can discuss these till tomorrow.

The real profit is in doing something about it.

Start something today. Free yourself from depending on just one salary.

Cheers.

Hi 2cesharp,
see most of what i am into at www.entrepreneurialjunction..com . I train people in these areas and sell manuals to those who can't come to my base in Lagos.

Good stuff pals. Its about time we took our destiny in our own hands. Job security doesn't exist anywhere, even in Europe these days. No dependable retirement plan - most people that give 30-35 years of their lives working still retire into poverty. Ten businesses may spring up today, by this time next, only three are still standing. We need such proactive Plan B sources of income outside our regular. So am involved in MLM, leveraging on a dependable global brand for a steady income whether am sleeping or awake. Lets interface regularly, as iron sharpeneth iron. Our young folk should get involved as fast as they can as our society have no plans of any living wage for anybody outside the political class. For more info sms or call 08035403883. cheers.

Hi 2cesharp,
see most of what i am into at www.entrepreneurialjunction..com . I train people in these areas and sell manuals to those who can't come to my base in Lagos.

Ejiogbe, i've been to your link and its a nice thing you've got going there. perhaps you can add some pictures to the page of the manuals or process to spice up the look of the page. Otherwise i think its really good. I may consider picking one of your packages - liquid detergent for instance. I once came across a powerful detergent for washing toilets locally produced but more effective than 'Harpic'. I think these locally produced detergents, if well, packaged can be good business.

Good stuff pals. Its about time we took our destiny in our own hands. Job security doesn't exist anywhere, even in Europe these days. No dependable retirement plan - most people that give 30-35 years of their lives working still retire into poverty. Ten businesses may spring up today, by this time next, only three are still standing. We need such proactive Plan B sources of income outside our regular. So am involved in MLM, leveraging on a dependable global brand for a steady income whether am sleeping or awake. Lets interface regularly, as iron sharpeneth iron. Our young folk should get involved as fast as they can as our society have no plans of any living wage for anybody outside the political class. For more info sms or call 08035403883. cheers.

Stevogue, How's the MLM going? hope smoothly. I encourage you to diversify your interests further into a regular form of business in addition to MLM. Like i say, keep increasing income or keep reducing expenses.

hi everyone else,

I've got something for you today that will interest you. I want to give you a free business idea you can run alongside your job, that wont cost you anything but can generate steady returns for you.

what is this idea? drycleaning.

How much does the average drycleaning company charge for drycleaning shirts and trousers, natives and other tops? How much do local washermen and women charge?

Let me share a story of how this works.

Bayo (not real name) is an employee of a top consulting firm but also has his own drycleaning business. He has a young man who goes round picking up clothes from people, tags them and drops them with 2/3 washermen. He pays those ones per bundle and it typically comes to less than N100 per shirt or trouser for washing and ironing. yet he charges his customers an average of N200 per shirt or bundle. He makes a cool margin of N10 in between. He has protected his margin by having the washer men pick the clothes up themselves and drop them back so he really has to go nowhere but chase his customers.

what is the merit of approaching dry-cleaning this way?

1) You dont need any capital to start it
2) You wont run the risk of being distracted from your real job
3) It requires no real attentive monitoring.
4) All cash pass through your hands, gives you a good cash flow
5) With time you can increase your costs and if your services are ok, customers will pay.
6) After creating a sizeable customer base, you can invest in Machinery and reduce your cost further.

With regular drycleaning, the cost of buying good equipment can render a business broke for years. The initial outlay often puts pressure on businesses to demand high prices which scares customers away.

But before you start to point at the disadvantages of the idea i just shared above, see the principle i'm passing across.

START UP CAPITAL IS NOT THE ISSUE. START UP WILL IS, !

The reason a lot of people dont have their business today is not start up capital. A lot of people claim its startup capital that is holding them back but there is always a way to start that same business a lot less capital or none at all. I once spoke to the founder of Soulmate Hair care Products and he told me, he started his business in his kitchen using his frying pan to make the products that are today one of the best in the world.

Dont let capital hold you back. Sit down and rethink that business. there must be a way to start it with less capital or none at all. I once read a very revolutionary book by Bob Allen "Nothing down' about how to make money in real estate without a dime. It changed my thinking. Most times we're so focused on the money that we lose sight of the most important things. with real estate for instance its location. No matter how cool a house is or how cheap a property is, if it is in the wrong location, you can have it on your hands for a long period of time. But if you focus on the right thing, you can make a good investment and be out of it in a short time.

if you need help, you can reach me on mail: dolazworld@yahoo.com

I want to help you start a business today.

Stevogue:

Good stuff pals. Its about time we took our destiny in our own hands. Job security doesn't exist anywhere, even in Europe these days. No dependable retirement plan - most people that give 30-35 years of their lives working still retire into poverty. Ten businesses may spring up today, by this time next, only three are still standing. We need such proactive Plan B sources of income outside our regular. So am involved in MLM, leveraging on a dependable global brand for a steady income whether am sleeping or awake. Lets interface regularly, as iron sharpeneth iron. Our young folk should get involved as fast as they can as our society have no plans of any living wage for anybody outside the political class. For more info sms or call 08035403883. cheers.

Am also a strong believer in MLM. According to Robert Kiyosaki, it is the business of the twenty first century.
I am currently involved with FM Group World and Winalite International. They both have amazing products and profitable compensation plans.

@Stevogue, can you share the companies you are working with ? You can mail me at chynweod@yahoo.com

i totally agree with everyone. there's no better time to start than NOW!
i was a victim of the downsizing,rightsizing,middlesizing in 2009 and it wasnt funy at all but now i have decided to shine my eyes very well.
pips,lets not deceive ourselves, even Robert Kiyosaki said it ' employees work hard building NOTHING'!. i would rather rephrase that employees work hard building someone else' empire. an in this part of the world, usually a family. We all know them but lets not start mentioning names.

A lot of us live on loans. We use one loan to service another and on and on the rat race continues. So many people are already jittery and almost dying of fear with the news of bank takeovers et al. How long do we do this my people?

Now is the time to take our destiny's into our hands. We havent failed because we tried and failed but we fail because we never gave it a try. Like i said earlier, i was a victim but never will be caught off guards again. Never! Although i now have a well paid job, but i also just started a second means of income,a MLM, leveraging on an excellent and proven international brand.

Wake up pips, no dulling. For more info sms or call 08099925716. cheers

Hi everyone,

How was your week? hope busy?

Cant say much today cos of time. Heading out to pick 'madam'.

But there's a question i'd like to ask you, my dear reader?

What drives you? what makes you wake up 4am to leave the house 5am so you can get to another man's business and work hard till 7pm, get home 9:30pm/10pm so you can fall asleep and repeat the circle all over? what is it?

Is it the pay you get, that you complain about each time you get it? the fear of not getting the pay at all?

Experience true freedom. Experience peace on your job.

Start a business on the side that earns enough money as you get on your job and before long you notice two things:

1. Your performance on your job will improve - because now you are free from fear/worry and anxiety of losing your pay or not meeting expectations

2. Your boss will accord you more respect.

I encourage you pay this page more attention. I'm here to help.

A few people have contacted me already about various things. Please check your mail as i have responded.

Have a good weekend.

@Shilove: Good one. Let the advocacy continue. perhaps more pple cld be liberated.

Hi Dear Reader,

Welcome to a new week.

I wish you success this week.

I wish you happiness this week.

But above all, i pray your eyes are opened this week to see good business opportunities and seize them.

Hi friends,

Today i want to tell you a few things you ought to do before you start a business on the side.

Now i'm talking to the regular 8 to 5pm man/woman. You leave your house by 6am so you can get to the office for 7am and get home by 8pm everyday. You ask yourself what else can i do with my time that will be valuable? besides most times you're tired, fagged out and barely able to even watch the news. You just want to sleep.

Your weekends are also choked with activities. You have a million wedding invitations. You have work in the office that could be tended to over the weekend. You have a friend you haven't visited in a long time that you spend your weekends visiting.

So where is the time to do business on the side?

But are you able to live comfortably on your income? or are you already moving from one debt to another?

Before you start a business, you need to ask yourself if you really want to go into it?

because it wont be easy. You'll have to still put in as much energy into your work to keep your productivity levels up while still running your business on the side. Also note that the business doesn't always jump to a great start. Some do but most dont. They have hiccups that can be overcome but patience is required.

During the period things are not going well, you'll need the answers you gave yourself when you asked yourself do i really want to do this business?

Another thing you need to do is to assess when your skill sets are and what you can do with your skills.

Hmmm, I'll have to continue this tomorrow. I'll provide a bullet list of at least 8 things to do before you start that business, !

Cheers.

hello everyone,

How are we doing? hope we're on the path to creating another business/income stream?

Just finished working on a feasibility study for someone who wanted to create a fashion outlet and it opened my eyes to an area i had never really looked at.

Do boutique owners make that much money? You see them in flashy cars, wearing flashy clothes and in magazines? a lot of them living the life you dream of. Is there really that much money in Fashion?

The global fashion industry is reportedly worth about $182 billion, with UK alone accounting for $21 billion (according to the Guardian UK). Thats striking because if you ask most UK stores, who are their dearest customers? they'll tell you Nigerian ladies, !

And that is why most of them will not come to Nigeria to set up shop - why rob their countries of such huge revenue.

To put it in perspective for you - Nigeria's GDP in 2010 was $205.6 billion - so UK's fashion industry alone is over a tenth of our whole economy and we are one of the major buyers.

So how does this create another income stream for you?

Answer this:

1) How often do you travel overseas?
2) How often do you wear things that people ask you where you bought them?
3) Do you have a flair for picking good things? (at least 5 people have said this to you)
4) Do you know places where you can get bargain prices for good quality shoes, clothes and other apparel?

If your answer is Very Often and Yes to the questions above, i believe you stand a good chance to making a kill in this fashion industry.

Let's talk some more next week. I'll like to give an analysis of great ways to start a good business in a small and least cost way, !

till then,

Cheers, !

Thank you so much. This is great. expecting more cos you hit the nail right on the head.

Hey, I am looking for some helpful thread regarding retirees, it tells about the need of a retirement planning. Please do share some retirement plan consultants. Thank you.

____________________
retirement plan consultants

I thank u all for ur suggestions and ideas, but i'm not yet clear with sths. Pls, i am an undergraduate student, i want to start a biz, even if it is online, or offline. And i need one that won't take much time per week. I have a start up capital of abt 3k. Pls any idea on how to go abt this, ur help wil l be really appreciated.

That inspired me. Thanks for nice information.
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