₦airaland Forum

Lazyyouth4u:
My egbon. I too like your wisdom. Wehdone sir!

Na practical experience i just dey give am as i have successfully used it. It helps to keep unnecessary and frivolous expenses in check.

Lazyyouth4u:
By the way, for every Paystack founder that will make money from selling their business, I will tell you 10 very brilliant fintech entrepreneurs that are in the wilderness.

Also, If tech was the surest way to make billions, then veterans like Sim Shagaya, Tunde Kehinde, The Wakanow guy, Tayo Oviosu, Akin Jones, Mark Essien and Seun will be swimming in billions now

The way Fintechs are just springing up all over the place, the space will soon be over saturated which will lead to low margins and profits with several struggling to survive.

rationalmind:
Story. The real reason was that he was paying off old investors with new investors money. Classic ponzi

Another will soon open shop and the cycle continues.

EarlyCareer:
Not yet. Hopefully soon. God willing.

Yes, financial independence is very important to me. I have strong respect for entrepreneurs, it is not for the faint hearted. So let us be investing for now...

When the kids start coming, ensure that you immediately open an account for them the next day after birth and transfer a fixed amount to it on a monthly basis.

EarlyCareer:
Everything legal.

TBs, stocks, crypto, MMF, Bonds....sometimes, I think I overdo it. Almost 90% of my monthly income.

Abeg make you flex small o. Na only this life we get o.

afroxyz:
The link is though you are an employee it is always good to have investing/entrepreneurship acumen. A good percentage of Shell workers could not maintain their living standard within 2-5 years after collecting pay off because they did not develop these skills when working. The priviledges they enjoyed while working did not allow them plan for life after work. Many took consultancy jobs to survive. Only very few opened service companies after they left.

This is not what the discussion is about. The discussion is that people should not be employee but be employers. Financial education is still very low in the country. I have seen some shell retires that went broke after retirement because they decided to be entrepreneurs which they are not equipped for. Some of them end up being scammed. It is not everybody that is an entrepreneur. Those not cut out to be entrepreneurs can simply buy an annuity and continue to live their lives.

Lazyyouth4u:
Before I think say that 1960 na just chosen moniker from our independence year. But with that post above, I now know say you be egbon for here. Wehdone sir!!!

Na from our independence o. Iam just a 'hard working youth' that decided to choose the date we became free.

emmanuelewumi:
In Ecology a branch of Biology. We have predators, preys, producers, microorganisms in a typical habitat.

Anong the predators, we have different levels of predators. The preys can be herbivores, omnivores or herbivores.

Nature has done it in such a way that the apex predators can't be more than 5% of the population of animals in the habitat.

In a situation whereby we have 20% of the animal population as apex predators, it will distrup the balance of nature. The predators will die of starvation, will lead to cannibalism or they will have to migrate to other locations


This is applicable to labour market. In a situation whereby 30% of the population in labour force become enterpreneurs, it will be a workers market. Enterpreneurs won't have workers to work for them again, enterpreneurs who have who will buy their products and services again.

In order to survive they have to migrate to other areas where there are few enterpreneurs.

Gbam. You have nailed it.

I watched NatGeoWild a lot. I have noticed that wildebeest and antelopes are so many that no matter how many are killed by lions, other big cats and crocodiles during the annual wildebeest migration, they are not extinct. If the big cats had outnumbered them, the big cats will die of starvation.

rookidmart:
True, although given the current state of solar charging tech, that would take a very long time and is not really efficient.

Proper planning is the best way to go.

As with fossil fuel cars you plan for your trip by having enough fuel beforehand (that is if you don't plan to buy fuel), Tesla owners too will plan to have enough charge before they set off.

Tesla’s long-range Model S promises to drive roughly 370 miles without stopping for a charge — about the distance from Lagos to Abuja (~331 miles)
So barring any faults by the car on the road, you can charge your Tesla fully before you leave Lagos, and arrive Abuja with charge left over. Plus you can always shut down your car in traffic and let solar replenish a few lost cells.

I think the greatest danger in long trips is the possibility of mechanical damage to the car on the road: getting competent mechanics on the highway for already established fossil fuel cars is already a chore, not to talk of for a car the mechanics possibly don't even know exist!

Have you ever met a bumper-to-bumper traffic on the highway?. How do you shutdown the car in such a situation?.

emmanuelewumi:
Do you know the number of partners in PWC, KPMG, Delloite. The partners earn mega bucks.

Leavung the big firms to start an audit/consulting firm will take decades to make the type of income and caliber of clients the big 4 firms.

The big firms are mergers of different firms, because they have realized that it better to own 5% of the big audit firms than to own 100% of a small firm


Law firms are even merging in order to get bigger jobs, this is common with those who specializes in business, corporate and commercial laws

The 'P' in KPMG might be from the group Peat Marwick, Ani, Ogunde which was a Chartered Accounting firm.

emmanuelewumi:
His father's name equally opened doors for him. His father was one of the old money men I Nigeria, he worked briefly in the family business before he decided to go solo

So the chairman of BUA even had a head start and people are thinking that he just jump into entrepreneurship and started making billions from it. Na so life easy when everybody for this world never become billionaires?.

emmanuelewumi:
Not that easy, do you know the number of partners he will have in order to get big jobs that will pay up to N500 billion per audit?

He will need to run the business for 30 years or above, before he can get the type of jobs the big firms are getting.

Ahib think it is just to setup an audit firm and pronto, you start getting auditing jobs of MTN, Airtel, Zenith, GTB etc.

emmanuelewumi:
Everybody can't be an enterpreneur but everybody can be an investor.

Mr Gbenga Oyebode SAN, will go home with a dividend of N252 million from Okomu Oil next month.

Okomu Oil has palm oil plantations in Edo State.

I wonder why the companies making billions of naira profits in agriculture on NSE are owned by foreign core investors

Okomu and Presco

To Ahib, the man should sell his shares and go and become an entrepreneur.

afroxyz:
What is the ratio of Shell workers that were able to maintain their standard of living after collecting their pay-offs when they resigned?

What is the link to this discussion about entrepreneur and employee?.

ahiboilandgas:
The Sure Path Section

The sure path is the most predictable path to wealth. It is how the majority of the upper class people got there. There are basically two paths under this section:


1. The Entrepreneur path

The Entrepreneur Path is the surest path to wealth. Starting, growing, and succeeding in business is the greatest and most noble way of creating wealth. This is because it is not focused on you and your family. It is focused on making a real impact, solving real problems, and making the world a better place. The majority of the world’s wealth is created this way. And it is the most predictable path to joining the upper class. Thus, if you want to speed up your journey to the upper class in ways that are noble, free of regret, and impactful, this is the path to follow.

Who is arguing about this?. Can the about 6Billion people in the world become entrepreneurs?.

ahiboilandgas:
he wouldn't die he has the capital to live on ..or do enterprenurship that doesn't require workers....like buy and selling land ...buy and sell ing Gold

So he will just buy lands and go and sleep abi?. I guess he will mould the blocks, produce cement, produce sand, dig borehole for water etc to fence the land and be clearing the bushes on the land by himself before he sells.

Leave entrepreneurship to who wants to be an entrepreneur and leave employment to who wants to be an employee. This your entrepreneur argument is very weak.

ahiboilandgas:
without entrepreneurs taking the risk the 9 to 5 people will be home starving ....and forming militant groups

And without the 9 to 5 people, the entrepreneur will fail from day 1 or even die from exhaustion of having to do all the work alone.

ahiboilandgas:
risk of been fired or downsize or right size is looming large at a certain age ....doing notting is more risky

Everything in life is a risk. Life itself is a risk. There is also risk of failure and loosing everything as an entrepreneur. Everybody cannot be an entrepreneur. An entrepreneur needs 9-5 people to succeed. If everybody become entrepreneurs, who will do 9-5?. Without a 9-5 person, you will not be able to post on this Nairaland. Do you really think it is only Seun that ensures Nairaland is up and running 24/7/365?.

ahiboilandgas:
he can partner with like mind it called partnership...who tell u enterprenures have stress na ...i can be an investor and be on board of a successful ENTERPRISE.....the real stress na wake up 4 am to resume for bank by 7 am to reach house by 9 pm daily for 20 years and get fired at the end ....

Have you not been reading stories here about entrepreneurs?. While your workers might be doing shifts, you will have to be there all through the shifts to ensure that fraudulent workers do not clean you out and send you back to square one. Btw, banking work is not the only job in the world. When i did my industrial attachment in Shell some years ago, working hours was 7:30am to 4:30pm.

ahiboilandgas:
1988 at 32 years old

That is a good age to take a risk at entrepreneurship. Risk of entrepreneurship is not good at a certain age.

ahiboilandgas:
that was a successful employee vs successful entrepreneur Abdulsamad Rabiu, the founder of BUA Group, one of Nigeria’s leading manufacturing conglomerates, is set to earn a mega dividend of N39.4 billion from his cement business – BUA Cement Plc – via his direct stake.

At what age did he cease to be an employee and became an employer?.

ahiboilandgas:
na to open his own Auditing firm by the sideline and grow to the level of Pwc....he will still.make more money runing a successful accounting firm .....u no hear how much Ned earn for Paris club refund 54 bn naira

It will take years to grow to the level of PWC. Moreover PWC is not owned by a single individual. No be every person like stress of entrepreneurship even if more money will be made. It gets to an age whereby all you need is rest and traveling. Person no come this world to live forever.

ahiboilandgas:
Executive Directors of MTN also reported a pay raise from N586 million per annum in 2019 to N732 million in 2020. This is attributed to the appointment of Modupe Kadiri as Executive Director in March 2020.....chai this employee don pass enterprenures oooh

Will you now advise such a person to resign to go and be an entrepreneur in the name of answering 'iam an entrepreneur?'.

emmanuelewumi:
Not necessary, you can be small and doing well at your level.

Banks making profits of below N10 billion per annum can be referred to as small banks


Wema Bank is also doing well, but it is a small bank. The betting mogul Chief Kensington Adebutu (Baba Ijebu) is the majority shareholder of Wema.

I think Wema bank has opted for regional banking licence.

afroxyz:
We can all disagree to agree

Or agree to disagree.

afroxyz:
A footballer negotiates how much you would pay him and the period of years he would play. He even add clauses and can request for transfer if he wants to leave. If he is a free agent he pockets all transfer fees for himself. This is aside other endorsements. Does that look like the workings of an employee?

Ronaldo makes almost a $1m per tweet. He has hotels and investments. Gerrad Pique has a football club in 3rd division.

Just as employees of companies have businesses on the side as entrepreneur.

QuinModah:
David Beckham does
Ronaldo Delima also has a club

They did after playing for many years as employees of clubs. Why did they go and play for clubs when they could have started their own clubs?.

Messi is still playing for Barca as an employee even though he can own a club.

afroxyz:
A footballer negotiates how much you would pay him and the period of years he would play. He even add clauses and can request for transfer if he wants to leave. If he is a free agent he pockets all transfer fees for himself. This is aside other endorsements. Does that look like the workings of an employee?

Ronaldo makes almost a $1m per tweet. He has hotels and investments. Gerrad Pique has a football club in 3rd division.

No. It looks like an employer.

Cyberknight:
Football na entrepreneurship na.
You're selling your skills in kicking a ball to millions of people across the world.

Why play for a club and collect salaries when you can form your own club and be making more money from ticket sales, TV broadcasts and betting.

Lazyyouth4u:
I’m guessing well paid football players should also leave football and go and do business instead of collecting fat wages

They should go and form their own clubs in the name of being an entrepreneur.

skydiver01:
Today's Primary NTB Auction Results are below:

91 Days: 2%
182 Days: 3.5%
364 Days: 8%

Wa o. Rates are really trending upwards.

emmanuelewumi:
I equally wrote that 99.9% of microfinance banks can't satisfy SEC stringent requirements for bond issuance

That is because only few MFBs have national license. Most MFBs are unit MFBs with low capital base. The capital base of a national MFB is N5B.