In this post, I will bring to you the definition an entrepreneur should give to money. We have lots of definitions of money but to have an attractive attitude towards getting money, there is only one definition you should know.
First of all, allow me to wish you a happy democracy day. Each time we celebrate this day, the one thing that comes to mind is knowing our Country Nigeria have a great future awaiting her as we have more young people making the decision to become entrepreneurs which in turn will boost our economy.
Have you in anytime asked yourself why some people have so much money that they call them billionaires where as some others struggle to even have tens of thousands?.
One funny thing about money is that every time it is spent by someone, another person earns what has just been spent. This is the reason I love Lagos so much. Money is always in circulation.
If Davido spends N10 million at a Quilox lounge, it is no issue to him because the same Quilox Owner, Shina Pellar will pay him same amount when it is time to come perform at his 41st birthday.
If you desire to be financially boxed up in future, you have to know exactly what money is and how it works. Most people really don’t have an idea what money really is and it is good to know because money is behind the simple logic of how a group of people are differentiated from another.
As we continue in this journey together, one mindset we will need to change is thinking money is some special paper printed by The Central Bank of Nigeria because this is the understanding of money most people have that make them think Money is evil.
Money can mean quite a lot. In Economics, it is a medium of exchange. In banking, it is coins or paper bills. Electonically, it is digital currency. Naturally, it can be natural resources. But to an entrepreneur, money means a different thing entirely.
As Economics defines money as a medium of exchange. It means the exchange of something for another. The more exchange a person does to get other people what they want, the more money they get.
In this case then, money simply means exchanging what you have for what you need. In other words, what you have for exchange has to be of scale so you can get the right scale in return.
If I have a plot of land at Lekki and I need money. All I need to do is sell the land in exchange for its worth of money. If I want more money, I have to sell more plots, shey?
This bring me to define money to you as an entrepreneur as value.
Money means a measure of Value
This tells you that at any point in time,
Value = Money and Money = Value
Small Value = Small Money
Big Value = Big Money
Plenty of Big Value = Plenty of Big Money
If you ask yourself why you are in the University or why you went to the University for a degree, it is because you understand this definition of money with you even knowing it. Some even go extra length to further their education abroad because it all measures the value for more money.
Why do you want to learn baking, fashion designing, website development, consulting, project management, marketing e.t.c? It’s simply because you want to make yourself valuable for more money.
By now, I must have got you thinking or wetting your appetite probably.
Don’t worry. Take it slow.
It is something you have to chew bit by bit and later regurgitate.
Don’t rush about it. Don’t try to jump into the whole thing. Just take it cool.
In my next post, I will discuss further the definition of money as a measure of value. The 2 major things you need to know to be valuable as an entrepreneur.
What are your thoughts about today’s lesson? Like I usually advise you after each post, meditate on this lesson and don’t forget to comment, like and share this lesson with your friends and most importantly, subscribe to my mail list. Will see you in the next lesson.
One again, Happy Democracy day. God bless Nigeria.