You Need to Own A Starter Idea
Have you considered Nike Ogunlesi?
Have you considered the case of Nike Ogunlesi ? A woman who started knitting cloths for children in her neighborhood only to end up becoming one of Africa’s biggest clothing brands , Ruff ‘n’ Tumble.
You need a revenue compounding money making machine. You need a money making business. See over the years , some of the parents and families that thrive the most , go and check , they have revenue generating businesses.
There is a delusion that comes with salary payments. When it’s only you, it’s like the money is much and with much salary comes a need to do more for you, nothing wrong with it, just that such thinking is just too early for you in your life.
And the funniest thing is no matter how disciplined you are , you will end up spending that money one way or the other in such a way that the money goes down the drain. Another one will come , you’ll say, yes it will but you’re being foolish, and even you will never know.
Let me paint the scenario for you , If you’re a high earner. When you’re receiving high pay per month say 2M , it’s for you alone and it’s a good amount of money , you keep collecting it , save a little like it doesn’t matter , the day something bigger enters your life that’s the day you realize how small the money with you is compared to the responsibility you have to bear. No amount of savings and earnings will then be able to save you except a constant returns from an existing fast growing business and that itself has to be a big business by then paying good dividends, but how shall what you didn’t work on become big ? Borrow sense, your salary divides to half when you marry and to a quarter of its value when you have a child. The same but better thing happens when you initially start a business. The difference is your family is not a business , expecting an investment return on your children is wickedness, but a great business built on high sounding requirements must always return every ounce of investment.
So borrow sense, every business needs time and capital to grow , most especially time and the earlier the better my dear.
Now the bitter truth nobody wants to face is, you can’t just pick any business and say this one will thrive , let me start it , that’s foolishness. That’s the same thing most MSMEs in Nigeria is doing and reason they will never thrive or become successful at it. Businesses that will thrive need special uniqueness . Consider the case of Nike Ogunlesi, an Average woman knitting children sweaters; that is a unique proposition compared to the common wears available , cheaper and custom made to each child , stressful at a start but that is where the money is , have you considered how big Ruff ‘n’ Tumble is right now ?
A starter idea , can change your life and game for ever. But it’s hard to find one though not impossible. You just have to be committed to deep thinking and consistent learning.
Don’t miss the period where you ought to start suffering and investing your all. The time is now! We’re all moving , don’t be left standing.
Here are five criteria every idea you have must fulfill, if it will become big and profitable in the long run.
Also what you’re looking for is a Starter Idea, don’t jump on Experimental Ideas yet until you have starter idea that is working or perhaps an advantage of funding for experimental ideas.
Starter ideas are existing line of value exchange , things and businesses, products and services people already pay for , they are already validated, and you can come in and enhance their provision and create a new market for yourself. Your job is to find a gap and double down on it.
1. People will be willing to pay for it
2. Fast growing market
3. people urgently want it
4. high frequency, people must patronize it a lot more.
5. At least 1 Million people will directly or indirectly pay for the solution.
things to consider:
- An inconvenience or problem or accessory people need to get
- 2. You can start execution with your own resources or readily accessible resources
I did more explanations in this two podcasts here. You can ask questions in the comment on the podcast , that’s a direct line for us to talk.
Part 1, https://open.spotify.com/episode/79NKH0sZjp3816cVoSfNzL?si=BovgP-xvRLWXZT978JFdug
Part 2 , 9 minutes Version : https ://open.spotify.com/episode/6ZnnE7T4G07E3UqqxSX60P?si=dL51mdljQbWQSdAi-YDiOA
How to get funding to start :
Don’t miss out on hints & opportunties , you should be on my WhatsApp Channel : https://whatsapp.com/channel/0029VaE6sRY9cDDTdhS12Q1b/500
