You should not make this Business Mistake

You should not make this Business Mistake

You should not make this Business mistake

In Late 2018 when I started getting intentional about businesses

How they work and how to become profitable with them

I started reading books and started watching YouTube videos

All my dreams were to own a company and become a CEO

But as time goes on I discovered that there is much to build a company

Than just being a CEO

You need to have a structure and a system to follow

First of all, you need to have a brand,

Secondly, you need to have a product,

Thirdly you need to have a marketing strategy,

Fourthly you need to have a team, and so on.

If you calculate all the things involved you would discover that building a company is ‘not beans’ (Not Easy).

So I started wondering how do I make things more different

And I realized I was making this mistake a lot of wannabe entrepreneurs make.

The Common Mistake Wannabe Entrepreneurs Make

The common mistake wannabe entrepreneurs make is jumping into starting a business without having resources

They struggle and end up giving up or the business ends up crashing

Or in some cases, they borrow money and then lose control over their business to the lender

Until I became aware of this WEALTH TRIANGLE CONCEPT

This is what you will be learning about in a bit…

Every other entrepreneur has an analogy to this

But the best one that explains this is this triangle concept popularized by Dan Lok.

A lot of folks struggle because of the ignorance of this triangle

This triangle system I have never seen anyone follow and failed

Unless if your village people followed you to Lagos…. lol.

Ok here’s the concept

If you really want to make money

Or succeed in this life this triangle works like crazy

In the three sides of the triangle we have

High income skill = Scalable business = High return Investment

See if you are starting out let’s say from scratch

From Zero

Maybe you are in a job right now and you need something on the side,

Maybe you are looking for a job, sick and tired of submitting CVs up and down

Or maybe you have a dream of starting your company but the capital is your problem

Then what you need first is a High-income skill

A high-income skill is what would make you never run dry

In fact, my mentor Toyin Omotoso calls it what turns you into a live breathing cash machine

Once you have mastered a high-income skill

You can never go broke again in life whether you like it or not

And what are those skills?

Copywriting, Closing skills, Webdesign, Digital marketing, email marketing, Facebook advertising, etc.

When you have this skill you start earning at least N400k to N1m monthly

With such skills, you can become almost irreplaceable

Once you’ve attained that

You then can further proceed to build a scalable business

It could be a dream company or so.

After you have scaled

Then you can start investing your money in real estate, stocks, crypto

And so on

But a lot of people skip the process

Or are not aware of the process

They just go straight to investing or go straight starting a business

And they end up struggling and making little or no money

That is why 95% of businesses fail because businesses are made of skills

If you lack certain skills you would lose your business quickly

I hope you find this valuable?

If you do leave a comment below

Thank you!

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