Nairalogue with Ifeoma Adeoye: The ABC of Wealth Creation

Wealth creation is not easy. If it was, we would all be billionaires. As much as I acknowledge the fact that it is not easy, it is also not rocket science. There is a formula to it and it involves hard work, diligence, earning, saving, investing and multiplying your money. I have come up with some simple ABCs to always bear in mind, to help you on your journey of wealth creation and financial independence.

Always think about the numbers – returns, interest, revenue, cost and profit. Numbers, numbers, numbers!

Be fearless and audacious

Create multiple sources of income/revenue

Develop value adding relationships. Your network is net worth

Excellence. You don’t have to be good at everything. Find what you are good at and be excellent at it. Delegate the other stuff. Your name should be synonymous with something, Bill Gates: Microsoft; Atedo Peterside: Banking; Linda Ikeji: Blogging; etc. Whatever you do, strive to excel at something.

Focus on what really matters

Get a mentor who is genuinely interested in your success

Hustle day and night! Side hustle, main hustle, right hustle, all hustle!

Invest your money, no matter how little you think it is

Just because you can buy it does not mean that you can afford it. Learn to delay your gratification. Show up, NOT show off!

Keep your costs and expenses in check! – Always below your income

Learn (formally or informally) and continue to invest in and improve your self

Make a conscious decision to be successful and work tirelessly to achieve it

Never give up. Be consistent, keep the pressure on the hustle. It will eventually pay off

Open your mind up to new ideas and change

Poverty is not an option

Quit complaining and making excuses. Just do it!

Resourcefulness. Rome was not built in a day. Start where you are, with what you have.

Save continuously and invest to multiply your money

Turn your thoughts and dreams into action and wealth

Understand the business idea, industry, market and product before you invest your money

Value your time. Time is money!

Work hard, work smart and be willing to do whatever it takes to succeed

X-ray people in your industry. Learn the secrets of their success and/ or failure

You hold the key to your success and the key to unlocking your wealth

Zeal. Investors prefer to invest in zealous, passionate and knowledgeable people.

Let these simple ABCs guide you on your journey to achieving financial independence.

Remember, start now, start small – just do it!

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