Sure you were attracted to the concept of a Million naira
per day business and you ask yourself if this was really possible. Well, I am
just about to share a thought with you and to be candid, it has been in my head
for a long time now. Before I go into the details with you, let me share a
thought about a book I read some time ago about the making of millionaires. The
main concept of the book is that it is very easy to become a millionaire if you
can solve the so called million naira question: What do people need so badly
and consistently that they won't mind paying anything for?
I am not trying to get you to the typical rhetoric you read
about in get rich quick literature because I have studied quite a few of them
and the concepts they share are usually very vague and you practically
difficult to implement because they don't discuss the HOW!
The question I am about to help you track is a tough one but
if and when you are able to answer it, you may just be on your way to wealth.
As difficult as this may seem, the answer is not far-fetched, it lies in just a
simple principle......Learn to consciously find a minimum of Ten problems in
your environment on daily basis that require economic solutions, that is where
the million naira a day business lies. As I walk through the roads of my city
every day, I see a multitude of issues, some are pretty direct and solutions to
them may not confer on me any economic benefit, for those ones, I just try to
practice the solution principle by trying to see if I can think of an immediate
solution that can help out in such situations.
The million naira a day problem seems to be everywhere
although at the beginning it looks like too little to give us that amount of
money. In this case, let's look at a case study. For those of us very familiar
with Lagos, you will know it is a very big city with millions of people in it.
Every day, people eat.......and you can imagine how much people consume when
you take a trip to a market like Mile 12 in the morning, you see the number of
trucks bringing in food from all over the country and by evening, the whole
place is deserted just for you to resume the following morning and then the
cycle begins all over again. The question is....What happened to the truck load
of food stuffs that was brought to the market yesterday? Well the answer is not
farfetched, after all you eat yourself yesterday!
Now to the economics, if you imagine that you can sell
something a million people need pa day with just one naira profit margin daily,
then you already have 1 million naira daily business. Well maybe you can't
reach a million people daily, what if you are able to sell what 100,000 people
need a day? With a profit margin of 10 naira daily, you will make a million
dollars.... You can break this further down the line and see the world of
possibilities in looking for an economic problem you can solve which can bring
you money daily.
I am not saying you have to start with making 1 Million
naira daily, what I am saying is that the day you find an economic problem and
people are willing to buy your solution, that is the beginning of your journey
to the million naira a day profit. I have made it sound pretty simple so that
we can embrace the concept of wealth generation and see the possibility of it
happening. Once the mind is able to conceive it, then all we need is the
courage to make it happen.
The other part to this is that, it does not require so much
sophistication, all you need is to start it small and scale it up gradually.
Stories of people like Ndidi Nwuleli attests to this possibility. I was
listening to her story on Fidelity SME forum of how she saw a high need for
spices in the country. We all eat one for of spice or the other. She and her
Husband started from a garage in Ota, Ogun State and gradually they scaled up
to what we know as AACE food today.
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