A little giddy on the plane from Jos to Lagos, I couldn’t help the image of the previous night’s events; speaking to ten thousand youths at the same place for more than an hour was more than I bargained for. Don’t get me wrong, I love speaking to young men especially about entrepreneurship but speaking to ten thousand of them from the thirty six states of Nigeria was a challenge I was happy to overcome.
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Every moment during the conference, I felt like an Obama in Grant Park, giving deliberate hope to anxious youth corpers seeking expression for their talents, dreams and aspirations. Hope is really an important thing because it actual energizes the soul and distill resilient fears; the fear of being jobless after their youth service year. My solution to this pending challenge is entrepreneurship!
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Why entrepreneurship? The bible may have been my motivation for “statetrotting†and I look forward to a globetrotting affair but the prophesy in John 13 is a sure indication of what may befall the earth; there will be a great alienation of the righteous from participating in any economic activities except they join the sorority labeled 666. The ones in charge of this sorority are great and excellent entrepreneurs in the image of a beast,
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Apart from this spiritual underpinning, there is the common sustainable streak; there are more births than death. The population is increasing more and more with limited resources to go round. In recent times in Nigeria, more than fifty thousand youths were recorded to be seeking for an advertised vacancy with only ten spaces available. There is more; the lack of these jobs also increases crime rate, encourages corruption, breed s despair in the human spirit and worst of all, solidify the oppressive mind set.
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This is definitely becoming a global issue; with most of the capital markets round the world crashing. The bible says it this way; without the foundation, there is no righteous living that can be accomplished. How can the capital market strive with a troubled spot market? The spot market fuels the capital market; if the spot market is not fixed, say good- bye to the capital market.
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This brings me to an important diversion; the difference between trade, investment and business. Trade involves buying and selling of asset, investment involves buying an asset for regular and frequent payment while business involves bringing people together to build a brand for the purpose of profit making. Though these three elements are very important, it is the latter that physically sustains a people in these contemporary times.
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Procuring a house for the purpose of selling at a later date is simply trading while procuring a house for the purpose of renting is investment. The last one is procuring a house for the purpose of bringing people together to build a brand for profit making is business. Though people misappropriate these words by using one for the other, it is important to understand the mix.
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I would not dwell on this topic much but I would use it to operationalize my answer to the common questions that has surrounded the investment on the “POeT keke†Project. People have asked me: why the tricycle? The demand for transportation is very obvious in a high population like Nigeria which reduces promotional and inventory cost. The most important part of the business is the ability to easily liquefy the products.
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Cash flow is the most important element of any business practice; you can trade in tricycle or you could simply invest through leasing or renting. The best part is that you could easily build a business out of it without much capital. We were able to make 61% return on the capital invested this year and I have seen other channels where we can easily maximize. My greatest joy is seeing youths owning their own tricycles and improving their economic sphere of influence.
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Back to topic, every time I speak about entrepreneurship to youths, I call it my entrepreneurial trails where I attempt to provoke the thoughts of youths towards entrepreneurship and allow them see the possibilities involved in engaging in it. I enjoy answering their questions and I actually learn from them. There is one particular question that threw me off balance asked by a corper from Borno state in my recent talk:
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“Sir, I like to know if it is good for me to start a business that I don’t have passion for mainly for the profit in order to raise money for a business I have passion for.â€
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This question seems easy on a surface reflection but taking a deep thought towards it brings various routes to answering it. I definitely gave her an answer but I want to review various perspectives to this question. I have decided to throw it open to my readers to share their thoughts on this question. I will be given gifts to those who I believe bring a unique incisive answer to this answer.
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I will like to appreciate those who have sent me their filled form to support the “keke POeT†project. I will mail you personally and let you know if you are in or out. Like I said; “it’s not about the money.†We are looking for people of wisdom, experience and influence to support our cause (this is subject to our reference frame). Thank you for taking the effort to send the filled form no matter the outcome. THANK YOU ONCE MORE!
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15 comments
December 15, 2008 at 2:21 pm (UTC 1)
@ dipo
long and short of it all,do what you can to get to your goal but be smart enough not to dabble into the “interim” business that you know nothing about which will definitely ruin the ultimate plan of starting up what you are passionate about.everything comes to him that hustles while he waits meaning do something while waiting for the main thing.doing the “not-so-passionate” will at least bring in money needed for the “passionate”.it aint so much about passion alone but the on the hands experience garnered while doing the “not-so-passionate”.passion without character is like house built on sand.passion with the requisite knowledge and good business and life attitude wont pay off in the long run!being passionate and being strong enough to follow through your passion are two different things.
me like your final advice to her anyway.
November 27, 2008 at 10:18 pm (UTC 1)
After speaking with Seun – the corper that asked the question; I realized she was talking about business not job. However, the business she talked about was simple trading.
Her dream passion business – Interior Decoration
Her not so passionate business – interstate trading
She does not have enough capital to venture into interior deco (I am not so familiar with this field of business so I cannot question her claim of enough capital)
She has done interstate trading and she is making enough money from it though not passionate about it. She is saving her money from this trade to start her interior deco business.
After, reviewing the latest input, I still stand on my position that you can do what makes you quick box in order to raise enough money for what you are passionate about.
This is where the challenge is: we as humans are a product of habits; she may become comfortable with making money from the trading that the pressure from building the interior deco may not manifest. There is also the question if interior deco is available where she is serving.
This is my final advice to her; I advised her to join an interior deco company after service for FREE if need be so she can be groomed in the art and science of the business but in the main time, do her trade business to raise enough dough to sustain her.
November 26, 2008 at 6:26 pm (UTC 1)
@ Royal Prince
You may have been right on the count you highlighted except I have to confirm from the lady if she meant business or job. I assumed she meant job because thats the only thing that could make her quick box.
Thanx for the scrutiny………………….
November 26, 2008 at 4:08 pm (UTC 1)
………i just finished browsing through prince’s comment on the boiling yet , interesting proposition we have on web ground. Looking at it from the Nigerian picture, methinks its typical of the Nigerian labour environment. Now look at it this way and very critically, i read physics on ‘forced’ passion undoubtedly because i needed to produce result for whatever financial heed had been made on me by my parents. It was’nt pasion driven but i needed to graduate well to meet the standards of gaining a grand employment in some course extemely different from what i had! I never liked physics jargons , but i needed to doing it what lies ahead; which goes in-line with a fufuilling career.
its same as buisness, a lot pple go into horrible(2 me), time gulping and sedentary banking 2 get lyf started on the note of not been counted as unemployed after the service year…..but the total truth is there’s money in banking at least to get life going after resignation, say for a master degree or sme kinda buisness that embellishes passion.
For passionsake whatever buisness delved will always survive no matter hw bad at the incipient!!!!!!!!!!!!!!!!
November 26, 2008 at 2:54 pm (UTC 1)
CONTINUED
2. You will also make money to make you not to bother about paying bills; bills payment may make you lose interest in your passion.
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The above explains why starting a business is diferent from working on job becuase no matter how profitable the venture may be, its early days will be challenging because the money aint going to start flowing from the word go. the tendency to quit will even be higher for a business started without passion in face of pilling bills to pay. If it is working on job, then it is a diferent issue as you are sure of the salary.
3. If you turn your passion into a money making venture, you may end up hating it after a while because of the pressure involved in making money.
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Don’t understand what u mean by the pressure of making money. Do u mean tight schedules, engagments and commitments.
You see, they do what they do for fun and the money keeps flowing in. No matter how much you, DIPO, make from globetrotting empowering people, being your passion, you will never hate doing it.
luv u!
November 26, 2008 at 2:39 pm (UTC 1)
@Dipo,
i think you got it wrong somewhere along the line.
Like I said, there is a difference between working on job u don’t have passion about and starting a business u don’t passion about.
the former is very common in our society of which your banking job is an evidence but starting up a business is a different ball game all together and requires passion.
Her question was not working on a job but starting a business which i think requires passion.
whoever does not make money from following his/her passion is because he/she didn’t set that as his/her goal.
Or let me put it this way, they didn’t make money because they are not entreprenuers.
space will fail me to mention those who have made it big following their passion.
Dr. Akpoki once told a music director that he would make her a millionaire, i think, in 2years. This was after he asked her if she were a millionaire and she laughed over it.
she has been teaching music and developing talents for years but never thought of writing a book on music or recording your teachings on CDs so that her students as well other could buy them.
you see that is the problem.
November 26, 2008 at 6:14 am (UTC 1)
@ Balogun Olukayode
What someone has passion for is sometime mis-leading to the people that claim such passions.
The whole concept of passion stems from what your strengths are.
If you have a creative talent, you will most likely be passionate about Music, Art, Business, etc.
Another self-deception is accepting your discipline as your passion. Your passion is any medium that makes you highlight your talent.
Have you ever realized that most people do not make money from their passion?
This is because passions are not expected to be challenging hence does not increase learning, growth and development.
I realized that I learn more from things I was reluctant to venture in.
This is my answer to her in the light of the above: if you believe what you are not passionate about will raise you the capital you need to be free, you have to follow the path of what you are not passionate about.
1. You will learn skills from what you are not passionate about to help you succeed from what you perceive you are passionate about. My greatest lessons in sales came from the Banking industry I hated so much. The bank taught me how to sell with a target and time frame in mind. I doubt I would have been able to sell if not for the bank which I detested but purely went in for the money.
2. You will also make money to make you not to bother about paying bills; bills payment may make you lose interest in your passion.
3. If you turn your passion into a money making venture, you may end up hating it after a while because of the pressure involved in making money.
On a deeper thought
I wonder why most guys find it difficult to make money with their passion. I wonder what they call their passions?
To me:
Empowering people is my passion; it does not matter what form it takes as long as I am empowering people positively, I am more than okay and I make my living from doing so. I have no form, discipline or product as long as I can empower people and make good money from it. I am fine
Hope i am making sense (lol)?
November 25, 2008 at 10:02 am (UTC 1)
thanks dipo for the theme.
would really love to know the answer you gav the corper but i see nothing wrong in sourcing for capital wherever as long as it is morally and legally right to create a worthwhile enterprise.
balogun
November 22, 2008 at 11:23 am (UTC 1)
Nice post. Words of wisdom. My answer to the question is no. She perceives the business that she doesn’t have passion for as profit making because it was setup and is managed by people that have a passion for that type of business.
My advice is that she starts the business she has passion for, stay focused and learn from her mistakes and that of others and she will definitely make profit.
Besides, she will still require capital to setup the ‘profit making venture’. So why not overcome the spirit of fear, doubt and procrastination and invest her capital in a business she has passion for?
November 20, 2008 at 1:17 pm (UTC 1)
Hello Everyone…..
Dipo it’s good to have you back. I believe strongly very soon you’ll start Globetrotting to speak to youth about Entrepreneurship.
Commenting on the question asked by the corper from Borno state:
I’m of the view that the biz she doesn’t have passion for is against her believe system (but has lots of potentials for profit) and she wants to go into it in order for her to raise the needed capital. If it’s a good business, let her go ahead and put her passion aside for that period, those who’re rich today have one way or the other done something they feel reluctant about doing, but, (Just has Jesus Christ saw the glorious throne waiting for Him, decide to endure
The suffering He went through) this so called rich guys of today have seen the glorious days ahead of them—so they supposedly
Opted for what the youth corper from Borno is trying to do. And today they’re singing a new song.
Entrepreneurs are risk takers and are willing to do what they hate to get what they want. Let her not even bother about what people will say.
There is always a trade off in life e.g. your pride, ego, school certificate etc. If it’s an illegal biz, I will advice her to forget about it and look else where to raise the needed capital.
Many Thanks
Christian Edwin.
November 20, 2008 at 12:59 pm (UTC 1)
The extent of my joy knew no bound as i marvel at the limitless possibilities of the keke project. Dipo! i tell u something, like a whirlwind you bring so a feeling of perplexity as i browse through your articles at every very ticking moment of its delivery on-site’, to find ethereal solace as i pronounce the last word! The reasons to this anomalous behaviour is not far fetched because you throw big-bang challenge to me each time i surf through…Thumbs up , bro!
November 20, 2008 at 10:43 am (UTC 1)
…(cont) is not dubious, jesus endured the cross for the joy ahead. Even as a salary earner, most people are there for the infuence, experience and ofcourse the pay to go for a greater passion.
The end justifies the means. The end is the driving force.
November 20, 2008 at 10:36 am (UTC 1)
Hey bro, good to have you back, i always look forward to your next post.
About the question you were asked, in my opinion i would say a BIG YES. Infact he/she would not be the first to do it, it even happened to Jesus (Heb 12:2) so long the means is….
November 19, 2008 at 2:00 pm (UTC 1)
Just a follow up to my earlier comment (answer):
“It is not good but could be POSSIBLE, an exception though”.
It is possible only when the passion to start the business that u passionate about is strong enough to carry u thru. Rare but still possible
In other words such business started without passion could thirve on the back of a STRONG passion to start a business that you are passionate about. The later business becomes ur motivating and driving force or simply put, your vision for going into the present one.
Most of your posts always get me thinking even after commenting on them sometimes at nights while on my bed.
Luv U!
November 19, 2008 at 1:29 pm (UTC 1)
Welcome back Dipo, I know your schedules must have been very hectic hence the lull.
Before I attempt an answer to that question let me xpress thoughts on your statement that the population is increasing more and more with limited resouces to go round. IMHO, i don’t think there is limited resources. There is enough resources but limited opportunities. People often seek opportunities instead of harnessing their available resources which in turn will attract their desired opportunities. Your speaking to those thousands was a rare must-sought-after opportunity made possible because you have harnessed certain resources at your disposal very well.
Well, it depends on one’s definition of resources though.
Never thought of the diff (if there was) btw trade, invstmnt and business. That was very thoughtful, now i know there is.
My answer to that question is NO. Note there is a diference between working on a job u don’t have passion about to raise money to start up a business that you are passionate about (though not advisable by some) and STARTING a business you are not passionate about so as to raise money to start the business u are passionate about.
To start a business u are not passionate about is like setting out on a suicide mission because at the early stages of the business there is bound to be challenges and hard times, and what keeps you going is your determination fueled by your passion (desire). Passion (desire), to me, is like the fuel that powers the engine of your dreams. I describe desire (passion) in my book-in-progress as the first law of success. Which means one must possess it in sufficient amount before venturing out so as to forge ahead when the going gets tough.
Footnote: The question is whether it is GOOD not whether it is POSSIBLE. It is not good but could be POSSIBLE, an exception though.
Luv U!