It is the duty of every forward-looking youth to understand the power of money and what it can legitimately achieve to create a wonderful turn-around for good life. Also, it is your duty to fully understand the other side of the coin (as far as money is concerned). In this article, we are considering the positive side of money.
Locating a business opportunity and starting without wasting time to earn money from it will not only empower you financially but will also make a great difference between you and your mates who will wait till years to come before they start looking for where to earn income. Every youth should know how to invest. And if you are still a student, the more enduring way you can maximise your money-resource is to invest in shares. Remind yourself with this philosophy: ‘make the money, invest the money’ – that is a philosophy from me to you.
A student has N20,000 and doesn’t know what to do with it to generate profit. What should he do? While studying, She should be fortunate enough to have money somewhere working for him. Therefore, as a student, he should invest the money and face his studies. Get a stockbroker; also get an investment mentor. If your location is remote and you may not easily get these people, join Oak Magazine Investment Club. This is an easy way to enjoy investing in shares when you don’t have knowledge yet about the capital market.
Consider a youth (a student) who invested N25,000 in Bank shares in 2004 at market price of N4.42 in 2003, as at the time of writing this piece, the money would be N155,000. You can imagine what would have become of the N25,000, if it was left to spend about 10 years – assuming you have a target plan for a project.
If Steve’s Job Can Do It, Yours Can
Kim’s parents divorced when he was very young. He was raised by his father and step-mother. At age 14, when he was to enter school, his first challenge was that he could not communicate in English. However, personal determination by Kim made the difference in his life. Hear him: "There was a moment in my life that I was at rock bottom. I said to myself that I really have two choices – either I commit suicide or I try to make something of my life."
As a teenager, Kim found himself alone and without friends. His family had abandoned him and he had to cope with inability to communicate in an environment populated by people whose tongue is English. This, of course, limited his opportunities and abilities, but he would not give up.
Having to motivate himself, he was studying the activities of entrepreneurs with great fascination for the careers of computer tycoons like Steve Jobs. His line of thought was: "If Steve Jobs can do it, why not me?"
With the help of a compassionate teacher, Kim finished high school, won a scholarship and immediately sought to work part-time in a small computer company that was just starting while still a student. He later became full partner in the company. Kim obtained his bachelor’s degree in only three years. Throughout his days as a student, he was doing part-time work.
About Kim that I was telling you, upon graduation and before completion of his compulsory national service, he knew he was well on his way to making his first million in the computer business by virtue of the part-time work he did while a student. Therefore, after leaving the service, he started struggling immediately to build his own business. His company, Yurie Systems, soon became a market leader in the field of electronic telephony. Yet he was in his early 30 years. I believe you must have been hearing of Lucent Technologies. Kim sold his business to the company for over a billion dollars. That is the outcome of a vision whose background was laid when he was a student. Kim presently sits on the board of Lucent and runs several divisions for the telecommunications giant.
Students Earning Money: They Demanded It From Life and Got It
I was in some tertiary institutions two years ago to give talks to students on why they must not wait till they leave school before planning for their years outside campus. I am happy today that since I gave those talks, some of the students present have been tapping more business development intelligence and have been applying it to a rewarding extent. If you have a business, begin to promote it.
Last year, on this column, I told a story of a group of youths (students) who strategically prepared themselves to become wealthy. Let me refresh your mind again. The students were fourth and fifth grade when they plan, organise and run a school store where they sell merchandise to their fellow students. The business is owned and operated by the students who decide what to sell. They built their own store front, collaborate on several aspects (e.g. time spent in the store, advertising and visited several successful businesses to enable them obtain new skills). By the way, they applied the skills they learnt. They worked with marketing firms, banks, accounting firms as well as retailers throughout the area.
The students visited people, interviewed employers and made consultations. They were able to gain awareness, understand the work environment, and became exposed. The students gained business skills, received counsels and were able to create their own business and personal development portfolios. It is an entrepreneurship opportunity in a learning environment.
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