This is a lesson on how to avoid poverty in Africa because Africans are poor not because they are not hard working. Rather Africans are poor because they fail to properly deploy the immediate rewards from their labour or luck.
I want to share the lessons from two Nigerian men that got huge lumps of money from different sources majorly via luck.
One of them inherited a property from his father and luckily for him one of the telecom companies came and mounted a mast on the property. He was paid a huge amount of money as lease by the company. Immediately he got the more, he declared that he was the area father of the street and started spending money like there is no tomorrow. He bought a second hand bus, employed a driver to drive it. All he does every morning is to sit in front of his house relaxing until evening.
The second person won a competition where he got over five million naira as his reward. He asked his mentor what he should do with the money and the mentor advised him to use the money to buy Federal Government Treasury bill while he decides on what he wanted to do. He did that and is currently learning a trade
Both of them got their financial largess less than a year ago. But today, the one that got the money from the Telecom company is so broke that his wife goes around begging people for money to buy food for their baby while the other one that won the Jackpot was just paid close to two hundred thousand naira interest from the treasury bill he bought.
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LESSONS FROM THESE TWO NIGERIAN MEN FOR YOUNG AFRICANS
- EVEN IF YOU ARE POOR MAKE SURE THAT YOU HAVE RICH MENTORS THAT MENTOR YOU – The man that won the jackpot still has his money and more because he had a rich business savvy mentor to advise him while the other man is very broke because he was advised by his fellow poor friends to buy a bus and that bus is now parked in a mechanic workshop for the past ten months.
- DO NOT INVEST YOUR MONEY INTO A BUSINESS YOU DON’T UNDERSTAND – The man that got five million realised that he knew nothing about business. The next thing he did after putting the money into an investment vehicle was to give himself one year to learn the trade that he wanted to invest the money into. The other man felt all transportation business was about was just to buy a bus, give it to a driver then relax and be collecting huge returns every day. He just realised that all that glitters is not gold because the bus rather than give him a return took money from the one he had for repairs.
- IF ALL YOUR CLOSE FRIENDS ARE POOR, END THE FRIENDSHIP – I once heard a man say that if the nine closest people to you are poor and lazy then look in a mirror and sooner than later you will see the tenth poor and lazy man or woman. The man that invested his money while he was learning a trade did so because though he was poor, he had rich friends that were advising him. The other man had only unemployed lazy group of friends who immediately elected him as their leader when he got the money. Today he is as broke as they are. You need to analyse your circle of friends and if most of them are not close to where you would like to be in future then its time for you to change your group of friends.
- GETTING A ONE OFF MONEY AND BEING RICH ARE NOT THE SAME – What you need to realise is that being lucky in winning money and being rich are not the same. As long as you don’t know how to make the money you have to keep multiplying itself, you will definitely end up broke. The man that got the lump sum of money as rent did not realise that getting money and making money where not the same. He felt he was a financial guru just because a huge some of money was dropped into his laps. Today he is facing the harsh reality of not being able to feed his family. The second man realised that and immediately got someone who knew how money was multiplied to guide him him.
I hope you got some insights from this story because you can be either of these two Nigerian men.