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Personal Finance

Quick ways to make money from any business

Businesses that solve today’s relevant problems are those that will create quick wealth in business.



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Not all business owners are wealthy and starting a business does not always guarantee success, as there are only a few business owners in the world who have been able to elevate their businesses from the ground up.

There are three things you must do to create wealth quickly in your business.

  • Have a wealthy mindset.
  • Understand how wealth is created in a business.
  • Be in the right business at the right time.

1. Having a wealthy mindset

A mindset is defined as a way of thinking about yourself, other people, and the world. It is what you believe about yourself that affects your level of success.

There are two kinds of mindsets in the world – the fixed & poor mindset – the growth & wealthy mindset.

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The fixed mindset is that which is formed from childhood. It is the mindset developed during our most vulnerable and naive years. This mindset is what forms us and prevents us from growing.

The average person has accepted certain beliefs as truth without question or validation. This means that most people carry within them the seed of poverty.

The only way to be successful is to get rid of these ignorant seeds and be open to new learning and information. If you do this, you will upgrade your childhood beliefs and produce a different outcome from your parents.

If you don’t, you will end up in the same place as your parents. It is your ability to constantly dump your past ignorance about money, career, business, and life, and upgrade them with information that opens the door for wealth.

Having a growth or wealthy mindset is about learning, re-evaluating, and dumping past beliefs. Every new wealth goal you want to achieve carries with it a price tag.

This price presents itself as obstacles that stand in the way of your dreams. To achieve your dreams, you must navigate these obstacles and overcome them. The only way to overcome obstacles is to acquire three things.

  • New knowledge.
  • New skills
  • New relationships.

Knowledge is the precursor to them all and without new knowledge, moving up the wealth ladder will be difficult for you.

Read Also: How to scale as a small business on a budget

You gain new knowledge by studying and modeling the lives of wealthy people. All successful people have a growth mindset.


They seek new information and are constantly learning. If you want to be successful in business, you must do what successful people do. The problem is that the average person is resentful against successful people.

Most of what successful people do will contradict your childhood beliefs. The bad news is you can’t become what you hate. So, if you are serious about becoming successful, you must model the lives of successful people.

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Poverty and wealth do not go well together, so successful people will not look like or behave like the people you grew up with, especially if you are from a poor or average background. Holding on to your childhood beliefs is choosing to never get wealthy.

2. Understand how wealth is created in a business

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Solve a problem for a lot of other people in exchange for an agreed reward. This involves helping them get rid of their pain, obstacles, challenges, and move to the next level in their lives.

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Although all businesses solve a problem, all problems are not created equal. Certain problems command high reward, while others command low reward.

High reward problems are important, urgent, and difficult to solve for the customer. Low reward problems are common, easy to solve, or futuristic in nature. So, if you want to create more wealth quickly in your business, you must solve important, difficult, and urgent problems.

3. Be in the right business at the right time

Not all businesses can make you rich. Certain businesses can only help you get by. Thus, being in the right business at the right time is critical for creating wealth. But what does being in the right business mean? It means three things.

Read Also: How to climb the Wealth Pyramid with speed

  • It means that the person is the right person for a particular type of business. That is, the business aligns with the person’s personality, passion, and competence.
  • It means that the person is solving the right kind of problem for the customer.
  • It means that the problem a person solves is profitable and in high demand by many people.

If your business is not in alignment with your personality, competence, and passion, you run a high risk of failing in that business. Even when you succeed, you are bankrupt of happiness and fulfillment.

To create wealth fast in any business, you must be able to pass the ten-dollar test.

The Ten-dollar Test

The ten-dollar test is one that helps you answer a critical question.

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“If every business in the world is given only ten dollars as a reward, irrespective of the kind of problem they solve, would you still be in your chosen business?”

If money was not part of the promise, will you still be motivated and focused?

Businesses that succeed – pass the ten-dollar test- are able to maintain their passion and focus in good times and in bad times.

If your business pursuit is all about the money, you may or may not succeed. But even when you do succeed, happiness and fulfillment are out of the equation. The key is to do what you love and get paid handsomely for it.

The right timing for a business

Nothing can stop a business whose time has come. There is a right and wrong time for every business. There are businesses that are evergreen, and those that prosper for a short while.

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Evergreen businesses are central to the way we live and grow as human beings. For example, humans will always need food, water, shelter, and money to survive. So, businesses that find smart ways to meet these needs will always be in business.

If the time for your business is not yet here, your wealth will be delayed. And if the time for your business is past, you will struggle financially.

Businesses that solve today’s relevant problems are those that will create quick wealth in business. To succeed in business, you must align with the times and seasons, and the changing trend of human nature. You must also find better and smarter ways to meet fundamental human needs.

Creating wealth in any business is not something that happens by default. It takes creativity, problem-solving, and the ability to command a high income.

If you want to succeed in business and need help getting started, we can help you.



  1. Ijeoma ibeawuchi

    November 1, 2020 at 11:58 am

    Please I need help to start off the right business that will take me to wealth.

    My contact is ijeoma Ibeawuchi 08033320007. Lagos

  2. Adeola

    November 1, 2020 at 1:37 pm

    I find some part of this article offensive and rude.

  3. Casmir Blessing

    November 2, 2020 at 1:17 am

    Impressive and well educative
    I want to learn more

  4. e2m

    November 2, 2020 at 3:57 am

    article did not provide any meaningful help towards wealth creation. Instead, it stumbles around same pit hole.

  5. Anonymous

    November 3, 2020 at 11:30 pm

    Eye opening wow thank.

  6. Adetola

    November 10, 2020 at 1:53 pm

    Would love to learn more

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Personal Finance

5C’s of creditworthiness: What lenders, Investors look for in a business plan

Business owners need to be aware of the criteria lenders and investors use when evaluating the creditworthiness of entrepreneurs seeking financing.



Five things to consider before securing a loan

Banks usually are not a new venture’s sole source of capital because a bank’s return is limited by the interest rate it negotiates, but its risk could be the entire amount of the loan if the new business fails. Once a business is operational and has an established financial track record, banks become a regular source of financing.

For this reason, the small business owner needs to be aware of the criteria lenders and investors use when evaluating the creditworthiness of entrepreneurs seeking financing.

Will the business that an entrepreneur actually creates look exactly like the company described in the business plan? Of course, not.

The real value in preparing a business plan is not so much in the finished document itself but in the process it goes through – a process in which the entrepreneur learns how to compete successfully in the marketplace. In addition, a solid plan is essential to raising the capital needed to start a business; lenders and investors demand it.

Lenders and investors refer to these criteria as the five C’s of credit.

READ: 5 ways to raise funding for your business

1. Capital: A small business must have a stable income base before any lender is willing to grant a loan. Otherwise, the lender would not be making, in effect, a capital investment in the business. Most banks refuse to make loans that are capital investment because the potential for return on the investment is limited strictly on the interest on the loan, and the potential loss would probably exceed the reward. In addition, the most common reasons that banks give for rejecting small business loan applications are undercapitalization or too much debt. Banks expect a small company to have an equity base investment by the owner(s) that will help support the venture during times of financial strain, which are common during the start-up and growth phases of a business. Lenders and investors see capital as a risk-sharing strategy with entrepreneurs.

2. Capacity: A synonym for capital is cash flow. Lenders and investors must be convinced of the firm’s ability to meet its regular financial obligation and to repay loans, and that takes cash. More small businesses fail from lack of cash than from lack of profit. It is possible for a company to be showing a profit and still have no cash – that is, to be bankrupt. Lenders expect small businesses to pass the test of liquidity, especially for short term loans. Potential lenders and investors examine closely a small company’s cash flow position to decide whether it has the capacity necessary to survive until it can sustain itself.

READ: How to scale as a small business on a budget

3. Collateral: Collateral includes any asset an entrepreneur pledges to a lender as security for repayment of a loan. If the company defaults on a loan, the lender has the right to sell the collateral and use the proceeds to satisfy the loan. Typically, banks make much unsecured loans (those not backed up by collateral) to business start-ups. Bankers view the entrepreneurs’ willingness to pledge collateral (personal or business assets) as an indication of their dedication to making the venture a success. A sound business plan can improve a banker’s attitude towards venture.

4. Character: Before extending a loan or making an investment in a small business, lenders and investors must be satisfied with an entrepreneur’s character. The evaluation of character frequently is based on intangible factors such as honesty, integrity, competence, polish, determination, intelligence, and ability. Although the qualities judged are abstract, this evaluation plays a critical role in the decision to put money into a business or not.

READ: 7 Ways to pay for your higher education

5. Conditions: The conditions surrounding a funding request also affects an entrepreneur’s chances of receiving financing. Lenders and investors consider factors relating to a business’ operation such as potential growth in the market, competition, location, strength, weakness, opportunities and threats. Another important condition influencing the banks is the shape of the overall economy, including interest rate levels, inflation rate, and demand for money. Although these factors are beyond an entrepreneur’s control, they still are an important component in a banker’s decision.

The higher a smaller business scores on the five C’s, the greater its chances of receiving a loan.



Written by Chukwuma Aguwa

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Personal Finance

Don’t be fooled by COVID-related scams

Always consult the institution in charge of health-related matters to confirm any fishy information you come across.



The nature of and the manifestation of the Covid-19 disease is such that there’s only a little time available to remedy the situation before it gets chronic. Although the infection begins by exhibiting mild symptoms, if you do nothing in a short time, it could lead to death in a matter of days.

This whole picture has caused many to become desperate about Covid-related issues, launching into panic mode at the sight of any information. As a result, such people are not far away from falling for fraudsters.

With the different kinds of news flying around, you mustn’t be fooled by Covid-related scams.

The Coronavirus threatens the health of millions of people around the world daily, also killing thousands along the way. To curb the spread and remedy the situation, bodies like the CDC, WHO, and every country’s local health organisation like the NCDC, frequently circulate information around communities. However, it has also led to fraudsters taking advantage to provide fake news, and even asking for donations.

Each day, there seems to be a new account or NGO asking for donations into the health sector, and though some are legit, many are just fraudsters posing to take advantage of innocent citizens. So far, numerous complaints about scams have been recorded, especially with people who are looking to support the health cause in any way they can.

READ: Africa to spend $9 billion on Covid-19 vaccine, access to supply is big problem

Channels used for COVID-related scams 

There are three major ways scammers take advantage of the haziness of the situation to dupe people. To start with, they appeal to the emotions of humans, who see the high death toll and suffering. As a result of what is happening, people have been willing to donate funds for medical supplies, isolation centres, and financial compensation for medical workers.

Scammers take advantage of this by posing as charity organisations and solicit for funds. Most times, as soon as their target is met, they clear their footprint without leaving a trace behind.

Another way they scam people is by manufacturing and selling fake or low-quality health products. Everyone wants to get their hands on a cure, or something that can at least protect them from the virus, and scammers are meeting their needs by providing just that.

READ: China joins WHO vaccine programme as it fills huge gap left by United States

The World Health Organization currently approves only one vaccine, and any other thing outside it is outrightly fake or just a supplement that will help your body. Currently, only the Pfizer vaccine is clinically tested and approved to work. Be sure to not throw your money in the wind by purchasing some of these fake drugs around.

Lastly, scammers create systems to extract a patient’s personal information, thereby having access to the person’s true identity. It could be in the simple form of opening a registration portal where you supply all your details.

Therefore, only give information to approved bodies and not any random online site that appears legit. These fraudulent individuals can do a lot of damage to your identity. Stay vigilant, only communicate with approved bodies, and always ask questions if you are not sure or suspect foul play.

The place of electronics in COVID-related scams

These fraudsters usually reach out to you through the digital sphere. Hence, watch out for cold calls, text messages, or emails requesting donations to certain bodies. The best way to confirm the legitimacy of such a message is to visit the organisation’s official website in a different browser. Never follow the link in the mail or text directly, as it can be easily embedded with spyware. Therefore, a single click could see them extract all your personal information, including bank details.


Also, please stay away from those who claim to have a cure, and accompany it with testimonies of people who have used it. They are low graders desperate for your money. Vet them by searching online and see what people are saying. In all, always look out for suspicious messages, and opt out if you are sceptical.

In a nutshell, you should not believe any cure, vaccine or supplement that the World Health Organization does not approve of.

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The government or legit health institutions do not cold call citizens to request donations or coerce them into making one. If you receive a call out of the blues, chances are it’s a scam, which is why they mostly try to hurry you to donate before you realise it. Always consult the institution in charge of health-related matters to confirm any fishy information you come across.

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