Everyday, I get letters from people, recieve calls and generally interact with people accross different class divides and age ranges. These letters are usually in 2 categories, there are letters that involve a request and letters that are simply saying thank you and showing appreciation. I also get questions, comments, enquiries, e.tc. Yesterday, I got a letter from someone that I have his permission to share and respond for him and all who occupy a similar circumstance to read.
Here is the letter, read carefully and find my response below.
How you dey? How’s business and family?
Sorry, i’ve been out of touch. Its not just because of time constraints, but as a result of the fact that i didn’t know how to ask the questions i’ve been wanting to ask. Its been an issue of the right questions create the right answers. That kind of thing.
By the way, what we talked about resumed yesterday, thanks for your suggestion. I used what you recommended and it worked. God bless you so much for ur wealth of knowledge and depth of experience. God bless.
In this mail, i’ll be asking the right questions. Kindly take time to answer me- don’t rush. Thanks.
I’m in a fix- financially. Pareto’s principle has caught up with my income and my financial goals for the year have been elusive. I planned to increase my flow of income thru the haulage biz and forex but the loan i wanted to get for the former was not approved and the guy i invested in his forex biz has messed up by not giving me my returns. I invested $2000 in February, to be receiving a repayment of $400/month starting May but the guy trading the biz has been giving me stomach-upsetting excuses.
I know that i desperately need new income streams, moreso that our baby is coming pretty soon. A lot of needs are still outstanding and there seems to be nothing remaining to cater for any other thing. I usually get a loan from my wife before the end of the month. What do u suggest? What do i do to generate money?????????
Second, i know i’ve got stuff- intellectually. My pastor’s current series on Real Money has been thought-provoking. I know i have value but i’m yet to realise how to trade them for money. So how do i convert this to real money and, what do i need to do to keep adding value to myself?
As per working in XXXXXXXXX, i know its time to still stay here and learn. I have my eyes on enterprenurship ultimately but God told me a few months ago that i should still be here for now. But i want to make some passive income by the side cos i cant depend on my earnings here.
Questions, questions, so many questions. I need your counsel, brother.
When I read this letter, I was touched for him, but not only him, it’s not my first time listening to these same thoughts, or offering advice on similar issues. I’m going to identify the key issues and give a structured response to what I believe my friend should do. I’m going to also share the basis for my thoughts and why I think this will work.
1. Financial Fix
2. Developing Personal Value and Converting Value to Money
3. Passive Income by the side
My Dear Brother,
Thanks for sincerely sharing your heart. My family and business are fine, thanks also for asking.
I quite understand what you are going through, I have had a little experience with those thoughts and realities as well. I quite appreciate your being candid, that’s indeed the first step. Once you are able to come to terms with what exactly the current situation is, and can be frank with yourself, you are well on your way to a lasting solution.
I hope you will be as sincere in taking my counsel as you have been in sharing the problem with me. Many people have problems, but when the solution comes they cower, because they are unwilling to pay the price of success. It makes me ask, “How badly do you want it?” If you don’t really want what you say you want, it will show in your response or the action you chose to take after this. Please find my thoughts below.
1. Don’t rush out of a fix
Life is not mono-seasonal. There will always be summer and winter, there will always be a time when the seasons will be in your favour and times when it will not be in your favour. We cannot alter the seasons, but we can plan with them. Wisdom is the management of seasons, not the anhilation of them. The biggest mistake we make when in a financial fix, is to want to get out of it in too much of a hurry. This is a sure reciepy for making bigger mistakes and running into bigger troubles. Are you in debt, give yourself a 1-2yrs exit plan. Anything that gives you an idea that will clear it in 3 months will put you into bigger trouble. The richest man in the world has debts, the richest man in Nigeria has debts, it’s not the absence of debt that makes a man rich, it’s the management of debt. Get out of the fix slowly, no shortcuts.
2. Learn from your mistakes
I have lost tens of millions in various kinds of investments. I know the feeling of loss as well as the joy of gains. I know what if feels like when a debtor stops picking your phonecalls, or when your investment specialist begins to sound incoherent. I’ve been there, done that, bought the T-shirt, but I learnt my lessons. Some of those lessons cannot be shared for free 🙂 (you must bring thousands of dollars and venison to the feet of the masters, and then their mouths will open :)) More seriously though – if I shared the lessons here, you would undervalue them, the words will read like English but you will not understand them. Let me give you a few just to drive home my point. “The person is more important than the idea”, “When you give your money to another on whatever terms, record it as a loss”, “The best investment you’ll ever make is in others, nothing else compares”. Now each of these quotes deserve their own books, when we see we can talk elaborately.
3. Get involved with Network Marketing
Let me sound it clearly here, that you do not even need to join one that I am involved with. Join anyone that is legitimate, and gives you an opportunity to earn passive income for life without a limit to over how much depth you can earn. Legitimacy is a function of functional product and credible people – a network must create a network of the kind of people that appeal to you. It is a known fact world over, that out of the 5 known ways to create passive income, this is the only one that is available to people who are not millionaires in dollars. It’s not clear to many yet, our colonial masters would have us forever slaves, and taught us that progress was employment. It’s not, progress is freedom – ask the tailors or hairdressers. Network Marketing is a vehicle that drives to financial freedom, you might now want to check out the brand that you should drive. It may take time for the world to realize it, but it’s as simple a decision as openning a bank account. It’s not wether you will not open, it’s which bank do you want an account with. I’m involved with a few, but I’m actively driving Holidays and Cash. In these not so good days, I’m already closing in on almost a million weekly. I can promise you that, that will not happen for you suddenly. If you are willing to commit 1/8 of what you put into your work, you can be earning over $1000 extra in 6 -12 months. Remember, no rush! Again you don’t have to join through me, join through someone who will have time for you. You can involve me in discussing with the person.
4. Gaining Value Personally and Converting it.
There are two great channels to personal development. One is relationships and the other is reading. Whatever you do that makes you meet other people or mandates you to read is vital for your development. The process of value conversion requires exchange. You bring what you have to the market and it’s bargained for. Crucial to any of such processes is an understanding of the sales process. When you break it all down to the basics, it’s a question of what do you have to sell – your skills, your looks, your education e.t.c. Don’t follow the crowd to speak evil of selling, realize that everybody needs it and embrace it. Your sales ability can determine the difference between poverty and wealth. Gain value and learn how to market it.
My brother, I obviously have not rushed it, as my mail is getting too long already. These are my urgent recommendations. I would also suggest you can collaborate with a few other people to still get involved in the haulage business. Know surely however that there is no business in the conventional model of business that doesn’t have it’s bad days. Whatever you are not willing to lose should not be staked, but nothing risked nothing gained.
I hope your questions are answered satisfactorily, if they are not, please feel free to ask for more clarification and I will be delighted to help in any way I can. Please give my regards to your wife as well.