Limitations of earning salary especially in a recession, and the huge opportunities that lies with investing and entrepreneurship
Welcome back once more, it’s possible you are reading about my thoughts on the economic recession in Nigeria for the first time, it’s not much a big deal, This is my third post, I just advise you read the previous posts before continuing Read here
My task today is to give more insight into what I call the field and flock principle. I’ll try my best. Just in case you need to read the story that birthed this principle again, kindly Read here.
Let’s take a closer zoom into the story of these two brothers from where we stopped. From the story both brothers were hunters – hunters basically hunts animals for food. I assume they severally or daily go to the field to hunt. For every catch of Esau – it was party time, but Jacob had to develop himself to know how to catch animals alive – catching animals alive requires different skills than killing. He also randomly learnt savings, he did not stop there, he learnt to reproduce what he had in savings.
We saw that what Esau went far to the field to get, Jacob had in his compound. Jacob even had options of selecting in his flock.
There was probably a day Jacob came back from the field with 2 male goats, instead of throwing a party or exchanging the goats for a pressing need, he made do of 1, he saved the other – since he had a living one, yet another day he got a female goat – remembering he had a male got in the compound, he decided to save the she-goat, that led him to the process of creating a flock – acknowledging the concept of reproduction. Jacob knew savings is useless if it cannot reproduce itself.
The field concept is what I term a salary concept, and the flock concept – a investment or entrepreneurial concept. The field concept is a 30 days make a day concept – one do not get gratified till a long period of time, living on salary is a life on guarantee like many will call it, but it is very limiting. Wealth is very difficult to create on salary.
Salary earners must learn that business owners won’t just pay you what you feel you deserve, you’ll be paid in accordance to your contribution to the business – not even your qualification. Who cares if you have a doctorate? What business owners care about is how much you contribute to the business.
Another obvious set-back for salary earners is that inflation rates increase, responsibilities increases but salaries don’t. Those at the receiving end of this period of recession are salary earners, most organizations retrench their employees, but amazingly they retrench the ones paid peanuts while there are staff collecting 800k or above every months – if they really want to cut down expenses, those people should be fired. I have realized that what most business owners do is to cut off “waste”.
Many are cut in the web of salaries because of the risk involved with business, the fear of the unknown, the fear that they may fail, the guarantee of an average monthly and a huge gratuity after service years – but they are ignorant that all their reward for working for over 30 years of their lives is just equivalent to some thousands of dollars an average online business man can make in less than a week.
Creating wealth is sure the way out of recession, friends; Nigeria is not broke, recession is a paper concept, the money we have is enough for all of us to be fine – the sad truth is that the huge money is in the hand of very limited few, thus not circulating. This few sees opportunities even in a recession.
To leave above recession, you must learn to create multiple streams of income – no matter how much you earn, you must save and make sure your savings or investment reproduces itself. You probably may be just a salary earner, you may ask what next? Perhaps you are also a business owner or an entrepreneur whose business is failing. Relax, you’ll know what next in my next post. It will be uploaded within 24 hours.
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