6 Reasons Why “A Job” Might Be The Best Entrepreneurial Advice You Can Get

A lot of entrepreneurs tend to HATE on jobs, especially us Fasttrackers.

And yes, I admit; I’m guilty.

Despite my guilt, getting a job might be the best entrepreneurial advice you can receive.

Here are 6 reasons why:

Reason #1
You have to experience firsthand how much the business system is failing or corrupted in order to be motivated enough to leave it.

A job can reinforce your desire and determination on just how bad you want to be an entrepreneur.
 

In a story I read, an entrepreneur takes a job under the premise that “you will be taken care of!” if he does an excellent job in the position.   Long story short, the employee does as expected and better; he sacrifices his life with long hours and does a fantastic job only to find out that the promise of “you will be taken care of” amounts to a measly 5% pay raise.

Hmmmm... thanks to corporate white collar jobs.

The man is furiosly angry and the whole experience sharpens his determination to become an entrepreneur.
Reason #2
A job can verify your entrepreneurial DNA, or lack thereof.

How many times have you heard your friend talk about starting a business?

You’ve heard the old story dozens of times: Okechukwu- a Wantrepreneur, wants to be an entrepreneur but decides to get a job first — you know, so Okechukwu-Wantrepreneur can “pay bills” and meet his obligations… and then… the next thing you know, Okechukwu-Wantrepreneur is forever trapped in a job and the mediocre lifestyle it affords… as soon as he receives his first paycheck, lifestyle entrapment ensues  (the fancy apartment, the leased Lexus jeep) forever prohibiting Okechukwu-Wantrepreneur from starting a business because “I have responsibilities.”

To translate the above, Okechukwu-Wantrepreneur has a lot of junk he can’t afford and isn’t willing to sacrifice that junk to take the entrepreneurial risk.

Do you want to uncover your true work-life DNA?  Then go get a job.

If you enjoy the job illusion: the so-called security and peace-of-mind of a paycheck, you probably aren’t cut from the fabric of entrepreneurship.  And that’s OK.  Conversely, if you loathe the job, the structure, and the boss, the politics, regardless of month end's paycheck, you might have that rare entrepreneurial DNA.

The fact is, many people *think* they are entrepreneurs but they aren’t. These people are actually in love with the mystique of entrepreneurship (be your own boss, make your own hours, unlimited pay ceilings) but are oblivious to the sacrifices needed to make those benefits real.

Thousands of wantrepreneurs enter the workforce never to return — and that’s a good thing — because they weren’t entrepreneurs in the first place.

Reason #3
See Unseen Opportunities
Third, getting a job will expose you to opportunities unseen in your current unemployed position. A common theme in many entrepreneurial success stories is the discovery of a need uncovered in a job. Successful businesses are started because an employee immersed in job culture sees an unfilled need and decides to solve it.

The success story we usually read about always starts the same … “I was working over at AYETORO Company and I noticed that there was a NEED/PROBLEM for XYZ and decided that I could solve it.”

Success in business evolves from a need-based premise; not “be your own boss” “do what you love” or any other typical self-love, financial expert-fed gabbage.

A job might give you the right foundation.
Reason #4
Experience Business Before You Can Start A Business

Getting a job will give you first-hand experience in seeing how successful (and unsuccessful) businesses are run.

In all my job experiences, I always enjoyed analyzing the business process.  In each instance, I reflected on how I would do things differently. If I was in charge around here, what would I do different? Or not at all?

For example, when I was a teenager I delivered newspapers. I remember the owner of the newspaper joint complaining regularly about dismal sales figures on Mondays. After suffering the slow Mondays myself (not a lot of newspaper to deliver!) I suggested that the owner run a “Business/Job Variety” newspaper promotion. Newspapers and Jobs/Business adeverts go hand-in-hand for many back then and even now, so why not run a promotion to encourage more newspaper sales for the Monday massive advert day?

Sounds like a great idea right?

Wrong.

The owner snarked “Well, when you own you own newspaper outlet, you can do that, until then, keep quiet.”  Basically, he told me to shut up and get lost. Despite being in the target area for a newspaper buyer, the owner decided that my idea was unworthy.  I mean seriously … 18 year old kids don’t buy newspapers right?  It wouldn’t shock me that this newspaper owner is now out of business, or still stuck in the same rat hole working 7 days a week for a paltry N800,000/year, complaining about misery Monday.

Reason #5
Free Education

You can learn loads with on the job training. Many companies will pay for an advanced education, seminars, sales training, and whatever else that can help make employees more productive. Take this comment on a forum I participated from a respected entrepreneur about on-the-job learning.

“[I]went to work for the world’s largest retailer [WalMart]. It was then that my eyes were opened up to the free education I was receiving. I was studying from the industry giants, I was getting paid to do things like attend Dale Carnegie classes, and I was using someone else’s LARGE checkbook to experiment. I was being trained the best practices in the world from a company who knew it ALL, and they were paying me while I was getting this education.”
Reason #6
“Older” Entrepreneurs Have More Success

Some research suggests that most new successful entrepreneurs are older, not younger. Yes, despite all the success stories of young tech entrepreneurs striking it big, the older generations are having more success when starting businesses.   Some attribute this success to business experience, established credit, more startup capital, more networking contacts, or perhaps, decades of corporate doldrums as motivational fire — whatever the reason,  years of business experience might groom you toward entrepreneurial success.

In closing, don’t fear the job as a path to your entrepreneurial goals.  I know some of you out there view “getting a job” as a failure.

It isn’t.

Make “getting a job” not symbolic of failure, but symbolic of your commitment to your entrepreneurial process.

Cheers,
James Bash

Wealth, Money, Glamour or Fame: What Am I Running After?

It interests me at times when people make some attempt to define what they really seek in life especially when it comes to financial freedom. Some say "When I have money, I have wealth" and it makes me shudder. But nonetheless, I traveled that same road of mediocrity called the "Slow Movers Road to Wealth" and trust me, it felt like money was wealth and that alone hindered my speed to financial freedom and became a speed bump in the way.


Sadly for most of us, we define wealth as a Range Rover Sports Jeep (Discovery Edition) with a driver attached to it, chartered jets, exotic trips to the Sun City, a mansion in Victoria Garden City, Lagos Island, and a penthouse in Garki, Abuja. Society says wealth is six-carat diamond earrings, Dolce and Garbana, and swatches that cost more than most people’s annual house rent.


For me earlier, wealth symbolized a farm on 85 acres in South-South Nigeria, a chain of coldroom outlets and event coutures. If you think like most people, “wealth” is by instinct defined by lavish luxury lifestyles. Society has conditioned us to believe that wealth is an absolute construct perfected by material possessions.

The Wealth Trinity: What Is Wealth?

Wealth isn’t as ambiguous as it may seem. The happiest moments in life is when one feels true wealth. And guess what? It isn’t the day you buy your first porshe car. It isn't the day you move into a big house in the city or make millions from a business deal. Wealth is not authored by material possessions, money, fame, or glamour but by what I call the three fundamental “F’s” as I have learnt so far...

1. Family  (relationships)
2. Fitness (health)
3. Freedom (choice)

Within this wealth trinity is where you will find true wealth and, yes, happiness.

Wealth is strong-spirited familial relationships with people. Not just your family, but with people (colleagues, business partners, mentors and other stakeholders), your community, your God, and your friends.

Second, wealth is fitness: health, vibrancy, passion, and boundless energy. If you don’t have health, you lack wealth. Ask any terminally ill person what they value. Ask any cancer survivor how they suddenly feel reborn and happiness is displaced from “money-bought possessions” to people and experiences. There is no price on health and vibrancy.

And finally, wealth is freedom and choice: freedom to live how you want to live, what, when, and where. Freedom from bosses, alarm clocks, and the pressures of money. Freedom to passionately pursue dreams. Freedom to raise your children as you see fit. And freedom from the labour of doing things you hate. Freedom is the liberty to live your life as you please.

For those of us currently in business with this common freedom mentality of "been your own boss", let me clarify here with all due regard that if the business you do revolve around you and cannot run without you, then you are a hustler because you dont have a business, but a job. Because we know that if you dont do anything in 30days, 21 days, One week, you dont get paid. Thats is not wealth you are creating. That is Labour instigated by survival. In this life, we can only earn money two ways: by Labour and by Leverage.

I believe this little info has been quite helpful to you in defining your priority in the pursuit of financial freedom. If you’re unhappy in your financial situation, your assumptions about wealth has probably eluded you. You need to change your road map. Take the Fasttrack today!

Don’t waste the opportunity to get it right from the start. Contact the Fasttrack Team now for more insights on your Business Fasttrack Roadmap Today!

BBM PIN: 5670C52B


Whatsapp: 08065982534

The Simple Picture That Can Make You A Millionaire

There is a simple picture that can make you millions.

As they say, a picture is worth a 1,000 words, but if things continue with inflation, that picture just might be worth 10,000.

Anyhow, below is a picture  of Fasttrack Business Strategy in pictorial form of a skyscraper. The model frames the Fasttrack philosophy, a business strategy that makes millionaires young, not old.

The breakdown:

The Foundation: (The Commandment of Need)
Represents the Commandment of Need – Create a business based on a solid foundation – a business founded on fundamental need, pain point, pleasure, convenience, or something that adds value to society.  Foundations such as “do what you love” “follow your passion” “lifestyle design” blah blah are foundations based on SAND.  Sand foundations crumble businesses and they don’t create exponential wealth.

The Door: (The Commandment of Entry)
How secure is the door to your business?  If anyone can download BBM and advertise a virtual shoe store business you intend growing into a big organization, and wham, they can compete with you, your chances could become really tight.  Business startup should not be a simple event, but a detailed process.  The bigger the barriers to entry the stronger your padlock to your door will be.  An “anyone can enter” business is like having a door wide open to the public … anyone can come in, and the more crowded it is, the shorter your skyscraper becomes. 

The Land: (The Commandment of Control)
Does the foundation of your business reside on leased or rented land that you don’t control?  Can a landlord (THE DRIVER) take back the lake from which you fish?  Can the service provider change terms?  Can the business owner change product lines?  Can the franchisor change the rules?  If your business foundation rests on leased land, someone else can derail your financial plan.  Begin a transition from leasing the land to start controlling it.

The Height: (The Commandment of Scale)
If you want to climb the heights to financial freedom you need a business the SCALES into the sky … in other words, it will need to reach new heights to reach the masses.  The tallest skyscraper in the world can be viewed by millions. How tall is Facebook?  Conversely, how tall is that little shop you have on Adetokunbo Adebowale Cresecent? Scale is what creates millionaires. The taller your building, the more it can impact.

The Elevator: (The Commandment of Time)
I grew up in Lagos and I remember once trying to climb the stairs to the 27th floor of the prestigious NITEL building in Lagos Island.  Big mistake. If you want to dissociate yourself from your business (financial freedom), you eventually need to get the elevator installed into your skyscraper!  Climbing a flight of stairs is MANUAL LABOR — the elevator represents automation and systematization.  A 40 year journey “up the tower” would defeat the purpose of wealth which is itself, comprised of TIME.

The Wrecking Ball: (The Pedestrian walk)
The wrecking ball represents the Pedestrian walk or Sidewalk which poses a formidable danger for all Fasttrackers (and Slowmovers) alike.  When your business begins to scale and become profitable, are you going to spend every dime your make? Do you own a N20,000,000 car, and yet, you don’t even have N20,000,000 in excess in case  of financial emergencies? The Sidewalk disreputes even the most successful; professional athletes, actors, artiste and yes, Fasttrackers. Beware of the Sidewalk.

To your success!

Don’t waste the opportunity to get it right from the start. Contact the Fasttrack Team now for more insights on your Business Fasttrack Roadmap Today!

BBM PIN: 5670C52B


Whatsapp: 08065982534

How To Earn More Than N10,000,000 In One Year

Want to earn more than N10 million in 1 year? 

Sounds difficult doesn’t it?

It isn’t difficult if you are traveling and investing your time into a Fasttrack road.
If the idea of earning N10,000,000 in one year sounds impossible, you’re probably driving a deficient business road, incapable of Fasttrack speed.

A vehicle with a top speed of 80 km/hr will always have a top speed of 80 km/hr no matter how hard you push the accelerator.
So how do you determine if you’re on the right road?

First, your road must be paved in the right surface.

The right surface is asphaltic concrete and is poured from a rationale or basis of a particular need — a fundamental market-based problem, issue, challenge, or pain-point that you set out to solve. If you ignore this, and your road erodes into gravel or sand — speed becomes impossible.

“Abubakar has been a pharmacist for a specialist hospital for over 7 years. He quits his job to start a pharmacy outlet because it is what he knows”

“Rotimi is an expert in carpentry and loves his craft.  A veteran capentary mentor tells him to “do what you love” and opens a carpentary workshop.”

In these two examples, the entrepreneurs engage the marketplace "selfishly" — they are thinking of themselves (their passion though good) when they should be thinking about the voids and challenges in the market.

Now in other words, why does my area need another pharmacy?
What are the existing companies doing poorly?
What can I do better?
What market-based opportunities are there in the industry and in the area?

The same goes for Rotimi.

Does the neighborhood NEED a carpentary workshop?
What are the other carpentary workshops doing POORLY that exposes a vacuum?
What can I do BETTER than the other workshops?

The reason why 90% of entrepreneurs fail in their first 5 years is because they start businesses they have no business starting, often founded on “do what you love” or “do what I know” — Now this looks totally different from what we have learnt from most financial norms from credible sources in the society which is very sound— but lets face it; the world doesn’t care about what you know and what you love — they want to know what can you do for them??? What value can your business bring to the mouth of the world?

So in a nutshell, If you want to earn N10m in 1 year, your first task is to find the right road — and that road is to stop thinking selfishly, and start thinking about what the market needs and wants.

To your Success!

Emergency Funds Account: The Scared 'Rat Racers and Speculators' Temporary Refuge

Once beaten twice shy they say, unfortunately, I have seen people who are bound by the fear of job security beaten over and over again. One thought that runs through my mind is that did they not learn from their mistakes? For some people, it is the same process, they lose their jobs and they are back to square one.

I know of a friend of mine who within a few months of losing his job as a banker was already looking like someone who had never seen nor handle a measure of money. He bounced back to his big boy lifestyle just a few months later when he got a job with another bank. Truth is, if he did not learn from his experience and take measures to ensure that the somewhat shameful episode does not repeat itself, he will be back to square one should he lose his job again in these recent times where we have a lot sms banking innovations by commercial banks.

You can choose to look at it as saving for the rainy day but emergency fund is basically money you put aside to cover for your expenses for a period of time in between when you lose a job and when you get another at least for the scared "business-repellent" sidewalker. I like the way Joanna explains it “We never fully appreciate the phrase “save for a rainy day” until we’ve actually been caught in a downpour. At times in our lives, Murphy’s Law seems to be annoyingly present in our day-to-day existence. Sometimes “when it rains it pours” is true in the worst way possible. The thing is, hard times don’t last forever and eventually the sun shines through and dries you off. But wouldn’t it be nice to have an umbrella during such times? It wouldn’t stop the rain, but it sure would help protect you from the worst of it”.

How to determine how many months’ savings you need.

It is advisable that you have an emergency fund of at least 3 months saved away in a good interest yielding account. The dynamics differ for each of us and we need to understand that. If you are still below 30 years old and you have high level of experience spanning over five years and you are very versatile, possibilities are you won’t stay out of a day-job for too long and as such may not need more than 3 months savings in your EFA.
As you grow older, the dynamics changes and the length of time you need to cater for increases.

How much should you save in your EFA?

When deciding how much money you need to have in your emergency funds account per time to take care of the bills in your transition period, it is good to ask yourself the simple question of “how much will I need to survive on a monthly basis?” If you have a functional budget you work with already, this should not be a burdensome task at all.

Before you conclude on how much you will need to save, you might want to ask yourself the following questions:

Do I want to maintain my current lifestyle or want to live a minimalist life during this transition period?
 

What and what am I willing to cut out of my luxuries?
 

What can I afford to put aside every month now and how long will it take me to save the required amount?
 

Do you want to assume in your calculations that both of you (if you are married) lost your jobs? 

Do you want to assume that people will help you with a little here and there or that no help will come your way?
 

Based on the answers to the questions above, you can now decide how much you need to save up for expenses and for how long do you need to save.
 

So if you have decided what you need per month is 100k and you will like to make arrangements for 6 months then you must have a minimum of 600k in
your EFA. It will also be good to make arrangement for inflation, it means you are looking at adding a few extra thousands to the total figure.

Having an EFA helps you to adjust well to the shock of losing a job and helps you to compose yourself faster and make right decisions in the days and months ahead. It takes the pressure of having to pay bills away.

Read more on emergency funds account and decide today to start one. Always remember, in your journey to financial freedom, it is about deciding to embark on the journey and finding the route that works best for you. So we enjoin you to join the fasttrack if you have more guts than just falling back on EFAs

Cheers 

James Bash

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Four Steps to Freedom For Less Courageous Career People Part 2

Are You Ready to make that change?

Major changes aren’t always easy. Only you can decide if you’re willing to do what it takes to make that dream career a reality. Just remember that the rewards can make all of the hard work worthwhile. As Confucius reportedly said, “Choose a job you love, and you will never have to work a day in your life.”

But don’t take an ancient Chinese philosopher’s word for it. We can tell you from personal experience that changing your career can change your life. We worked hard and still had occasional annoying days. But we love what we did and we felt like we were making a difference. I even earn more from doing work that I love than I did in the corporate job that I walked away from. Today, I’m thankful for all of the job stress that I experienced because it motivated me to get off my slumber and make a change. 

Don’t you owe it to yourself to explore your options? You deserve to spend those 100,000+ hours of your life in a career that inspires you. You don’t have to stay stuck in a job you hate, and you don’t have to starve to find work you love. All you need is a plan and a little bit of nerve. Go for it!

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Four Steps to Freedom For Less Courageous Career People

Hello Career Peeps, Ready to make a change? 

The important thing is to take some action (any action) and start building momentum. Don’t quit your job yet. Think about your career change as a second job and start working on a new lucrative career preferrably freelance consulting or small business startups. With some well understood afterwork-hour career activity, you may even be able to make a dramatic career change without missing a single paycheck. This ofcourse is for those of us who are caught up between the fear of losing our jobs and starting small businesses for fear of failure

Here are the four steps to get you moving toward career bliss:

1. Take a clear look at your current situation.
What is it about your job that makes you go crazy? Is it the wrong job, the wrong manager, the wrong company, or all of the above? What are the work issues that really push  your buttons? Are there any aspects that you actually enjoy? Take the time to think about what’s really missing. The purpose is not to take delight in constant complaining, but to get really clear about what it is that you need to be happier at work. It may be that a slight change in job duties is all you require. Or perhaps the time has 
come for a more dramatic change.

2. Explore your options.
What is your dream career, and what would it take for you to make it happen? If you don’t know, it’s time to get serious about figuring it out. You can’t just sit around and wait for your true mission in life to reveal itself to you. Get out and do your research. Talk to people who are currently working in the fields that interest you. Browse job boards for listings that inspire you. Work with a career counselor to identify 
careers that tap into your strengths and fit with your values.

3. Make a plan.
Once you have a sense of what you want, it’s time to decide what you’re prepared to do about it and when. You need to put a plan in writing and commit to it.

Even if you’re not ready to change careers, but imply want to make some minor adjustments to your current situation, you still need a plan. Don’t just make promises without clarity to “volunteer more,” “spend more time with the kids,” or “take a real vacation.” Put a detailed plan together— commit to a volunteering schedule, book more family time into your weekly calendar, or make reservations for your next getaway weekend.

If you’re committed to moving forward with your career change, it’s time to decide exactly how you’re going to get from Point A to Point B. Is it simply a matter of updating your CV/Resume and getting out there to interview, or will you need additional training or experience before you hit the target you want?

If your goal is to leave your corporate job for a career that’s likely to be less lucrative (at least at first), it is essential to have a solid financial plan in place. That plan could involve continuing to work at your current job—even if only part-time—while you make the transition. Or it could mean socking away some money in an Emergency Fund to help cover your bills during the switch.

4. Get out
If you plan well and work your plan, you’ll soon be ready to say goodbye to that crappy corporate job and learn what it’s like to love what you do for a living.
Ready for change? See you on the final part of this thread series in few days time. Have fun out there...

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Fortune 360: The 21st Century Millionaire Fasttrack Blueprint

Hello and welcome onboard!

You re welcome to Fortune 360 live blog... This blog is an upshoot of the call for aspiring business owners who are ready to live their dreams made inspite of their fears in the current downturn of the economy...

Now a little about myself...

I made my first million when I was 31. I was living with my mother and my wife three years earlier. I am set to retire when I get to 38. Every month I earn millions of naira in interest on business and investments working around the country and the globe. No matter what I do on any day, one thing is sure: I get paid and I do not have to work. I have financial freedom because I cracked the code to wealth and escaped financial mediocrity. I’m a normal person living an abnormal life. It’s a fantasyland but my reality, my normal, my deviation from ordinary where I can pursue my most implausible dreams in a life free of financial challenges.

How about your dreams? Do they need resuscitation? Is your life on a road that meets with your dream? If your dreams have lost probability it’s possible “Get Rich Slow” has killed them. “Get Rich Slow” criminally asks you to trade your freedom for time. It’s an dream destroyer.

The Fasttrack doesn’t care about your age, your job experience, your race, or your gender. It doesn’t care about your “F” in university education or your reputation as a hard working career person in Shell or the Civil Service. The Fasttrack doesn’t care about your Ivy League college degree or your Oxford or Harvard MBA. It doesn’t ask you to be a famous athlete, actor, loud artiste or a finalist on MTN Project Fame.

Let me clarify: Fortune 360 has no self-proclaimed experts or gurus in the team nor does anyone here want to be one. We dislike experts because “expertise” implies know-it-all status. Call us the “anti-guru” of “Get Rich Slow.” The Fasttrack is a lifetime school with no graduates; 12-plus years into this and we humbly admit, we have more to learn.

We don’t have intimate details about your past, your age, your beliefs, your loved ones, or your education. Therefore, we need to make some general assumptions to ensure that our conversation seems personal to you.

Our assumptions are as follows:
• You look around your life and think, “there’s got to be more.”

• You have big dreams, yet you’re concerned that the road you’re traveling will never converge with those dreams.

• You’re university-bound, university-enrolled, or university-educated.

• You have a job you don’t enjoy or isn’t going to make you rich.

• You have little savings and carry a load of debt.

• You contribute regularly to a corrupt national pension scheme as an corporate employee.

• You see rich people and wonder, “how did they do it?”

• You have bought a few “get rich quick” books and/or programs.

• You live in a free, democratic society where education and free choice are standards.

• Your parents subscribe to the old school: “Go to university and get a good job.”

• You don’t have any physical talent; your chances of becoming a professional athlete, artiste, entertainer, or actor are zero.

• You are young and full of enthusiasm about the future, but unsure where to direct it.

• You are older and have been in the workforce for some time. After all these years, you don’t have a lot to show for it and are tired of “starting over.”

• You’ve put your heart and soul into a job only to be laid off due to a bad economy or cutbacks.

• You’ve lost money in the stock market or traditional investments and cooperative money schemes championed by mainstream financial experts.

The road to wealth has no escort and is always under construction. No one drops millions on your lap; the road is yours to travel and yours alone. We can open the door but We can’t make you walk through it. I don’t claim the Fasttrack is easy; it’s smart work. If you expect a four-hour workweek here, you will be disappointed.

My name is Michael Hedge Ndubuisi and I welcome you officially to the Millionaire Fasttrack Blueprint...