Please this is very important to me.. I don't want to waste 2016. Everybody must not be entrepreneurs, or self-employed, or businessmen.. Even Salaried workers can save up a good chunk of money, but the question is, "What next should happen to this saved money so that it begins to work for the owner.??"
Is it fixed-deposit, Or starting a business (this is somehow difficult for a regular worker), or giving it out loans with the hope of getting interests.?
Dearpreye, Ideykwum, Noblezone, Lalasticlala, 400billionman, Truckpusher e.t.c.. please you guys can help me tag some other people who can help me out.
I just stumbled unto Dearpreye's thread and discovered that I had been making lots of mistakes.
I JUST NEED TO LEARN MORE, AS NO KNOWLEDGE IS A WASTE.
..
THANKS SO MUCH.

tk4rd:
To even think that I would be sleeping, and my own money will be making more money for me while I sleep.?
Is it really true.?

400billionman:


Yes, Bill Gates wakes up every morning $4 million dollar richer than yesterday's night.

Money works for him while he is asleep. Myself cut short my vacation because of money i will collect tomorrow morning from my boys. They did the work, i planned it earlier for them.

The fastest way to get rich is to let or make people work for you. Imagine the work you alone can do, lets say you can generate a value of N70,000 on your business monthly doing it yourself alone. What of you now replicate yourself into 10 boys generating N70,000 each monthly in 10 different Strategic Business Units you arranged for them and you compensate your 10 boys based on commission on their turnover. . Means you will be making N700,000 from the efforts of 10 boys whom you have coached in your art. Preparing a workable TEAM is the secret of billionaires. All these boys must be smart and reason the way you do. Its not one days job but years.

You then decide what your strategic business will be, product or service. Let me stop here for now..

400billionman:
..........You then decide what your strategic business will be, product or service. Let me stop here for now..

odussa:
Its very possible and its through leveraging. If you want your money to work for you, you'll need a sellable product, a very attractive pricing system and a good team(workforce) you can work with to achieve your goals. When u have all these in place, then we can move on to the next level where I'll show you how to manage your team in terms of very attractive commission payments and so on.

tk4rd:
Please break this all down for me.
Please come again.
I admit that I am a learner here.
I have acquired some engineering design and construction skills, but I do the field works with hired labourers and artisans. But even at that, I work my ass out in supervising the supervisors and foremen on site..
I am the one doing most of the design and supervisory works, and not my money per se.
The men working for me cannot really work without being supervised.
What can be done in this situation.?

odussa:





I'll advice you to look beyond service rendering. The best way to leverage in Nigeria today is on a physical product. So look towards that direction. Seek advice on product that interests you and learn how to produce and own yours first. That's the most important for now. Its really hard to leverage on services compared to a physical sellable product.

aloeman15:
The easiest way to understand this is to look at large companies.
Most large banks are money spinners. They use your money to hire, train good staff, invest in capital or financial market projects and open more branches. Each branch simply duplicates the winning formula.
For theory, read Rich Dad, Poor Dad. For practical, you need to shadow or study one or two mentors in your areas of interest. Find them at church or your company's clients. Also, remember that guy in the bible who spent about 14 years with an uncle who refused to give him 'freedom'? He planned, worked and became richer than his 'master'.
So understand that you must invest your time, energy and money in learning how money works o!