Most of the time, we belittle our immediate environment a lot. We always feel nothing good can come out of that area, especially if that area is an undeveloped area.
Most of us have written off those villages and rural areas who hasn't developed yet. Yes, I believe this too because I currently live in a rural area and I feel like no much opportunity here due to the fact that the area doesn't look like city life. All my life, I have been used to city life before moving to these rural areas, and I believe that you will agree with me that "When you have been living in the city, and you transition from living in the city to living in rural or underdeveloped areas, you can hardly cope".
It will look like the world is against you, and you feel dejected and sad because the new environment seems to be hindering you.
You only feel that those underdevelopments are hindering you from becoming someone great, simply because you have trained your mind to believe that, and that is what will surely come into reality. A wise man once said, "Once you believe, you are halfway there already". All you need is just a little effort and prayer, then you are good.
Let's not digress too much.
Today, we want to talk about making money in the slum. When we talk about slums, we simply mean those underdeveloped areas, rural areas, or low-income neighborhoods Is it really possible to make a good amount of money from these areas? Or is it just a myth? Let's find out together.
One of the myths we strongly believe is that most of the people living in rural areas are poor, or everyone lacks financial resources. This myth is not true because even in those rural areas, we have millionaires, we have billionaires. Of course, they might not build mighty mansions like their counterparts in the cities. Most times, they don't build mighty mansions because they don't want to serve as an easy target in the community.
Imagine a community where most of the houses are ancient houses, and you just came from nowhere and built a Mighty House there. Such a person could be an easy target, and perhaps, if the people in the community don't attack such a person. It might lead to unnecessary hatred and jealousy, which could still harm the person's relationship with the community.
This is the reason why most people prefer to build something substandard in order not to serve as prey. It is not that they don't have this money. They actually do.
Another myth is that if you do business in these low-income communities, your business won't thrive. Well, the answer to this is Yes and No. You may be right if you didn't do proper market analysis on where to put your business. Having the right location for your business is the key. If you don't do this market analysis, whereby you check the number of competitors in that area, what people purchase the most in that community, what they don't buy or need, and the like. Then, your business might not thrive.
This is the case with most businessmen from low-income communities. Most of them don't know what business analysis is all about because some of them are ignorant, while others are illiterate. The few educated ones that knows about this feel it is not necessary to carry out a market analysis. The reason for this is that some are too lazy to do that or some don't just see the importance of doing it, and that is why most businesses in the low-income communities don't thrive.
Unlike their counterparts in the cities, they know fully well the importance of Market analysis. In fact, they dare not do it because business in the city is highly competitive. Even with your market analysis, you are still struggling. Imagine if you didn't do it, it would be so pathetic.
Have you ever wondered why those tomato sellers in the market, the welder in your streets, the mechanics off the road make money on a daily basis even more than bankers. If we calculate the money these businessmen make on a daily basis and multiply it by 30 days. You will discover they earn more than bankers. This is a discussion we don't want to have. We live in a world where everyone wants to become a banker, economist, doctor, lawyer, pilot, footballer, celebrity through entertainment, musician, engineer, and the like. This is the major reason why these professions seem to be getting more populated day by day.
However, the truth of the matter is that the people in these professions barely survive because they rely greatly on their salaries. It has been confirmed over and over again that you can never be wealthy through salary work. It is just meant as a stepping stone for you or more like a ladder to gather the resources to start your own business.
Having your own business is the key to wealth. This is the reason why those pepper sellers, fruit sellers, drivers, bricklayers, and dumpster collectors you see down the streets are making daily money and building a system where in a few years, they can own properties in their name.
However, I am not saying it is easy for these people to build wealth overnight. It can take years for them to build the wealth doing their daily business and saving. It is much more possible for them to own a property in their lifetime than for a salaried worker to have a property in their name.
Don't misunderstand me, I am not saying that salary owners don't own properties. Of course they do, it is just that most of them don't because the salary comes only once in a month and before it comes, bills and debts have consumed the money.
Unlike businessmen who make money on a daily basis, they can easily save a quarter of each day's earnings. Reinvest it into their business. With time, they will get there.
There is hidden Wealth in Small businesses. If it is not working for them, why do we see more people Going Into small businesses?
To confirm that, go out of your house and stroll through your streets and other streets. Try to count the number of shops, malls, and the like. You will see that they are very much. Why are there so many shops, which shows it is working for them. So many people left their salaried work and ventured into small businesses, and after so many years, you will still find them doing the same business.
This shows there is hidden Wealth in it. If there is no hidden Wealth, many people would have left the business. Moreover, these small businesses are the backbone of every economy. As small as they are, they can improve and destroy the economy of a country even more than a big organization could.
Individual Preferences: Some people just prefer not to showcase their wealth based on their personal reasons. Hence, when you go to such a community, you will think there is no wealth in that community. But in the real sense, money flows there.
This was how it all started. After graduating from my service year, I moved back home. When I got home, I tried to apply for jobs several times, but it was futile. I was not even called for an interview once. A lot of people were telling me that the reason why I wasn't called was that my CV had some errors. I was connected to various CV experts to do a new CV for me. I kept on spending a considerable amount of money for the services for these so-called CV experts, but still, I wasn't called for an interview once.
One day, I decided that enough is enough. I calculated all the money I have saved while still in school because I know that life after school is not easy. So, I was already preparing even before I finished school. I was wondering what business I could start without having to break the bank. That was when a childhood friend of mine introduced me to the gas business. He said the business is good and it moves fast because people can't do without eating every day, and as a result of that, they will need to fill up with gas on a daily basis.
I agreed with him, and he gave me the total breakdown to start the business. The breakdown is as follows:
The total amount of money that I used to start this business is N420,000.
After doing this, I started the business. I bought my 50kg gas that I want to resell for N100,000, and sold the gas in the 50kg cylinder to customers at N150,000. The transportation fee to deliver the goods is N10,000. If we deduct the N10,000 from the net profit, we will still have about N40,000 as our net profit.
Hence, even in the slum, I make a minimum of N40,000 from my gas business. Who told you there is no money in the slums? There is, you just need to find your way.
When next you pass through the slums, you must know that Making Money In the Slums is possible. Don't judge based on mere sights because we have some that are wealthy already but don't want to showcase, and we have some that are quietly building their wealth. Just because an area doesn't seem developed doesn't mean money can't be made there. You must also serve as an advocate of this and teach others who believe you can hardly make wealth in the slums.
Thanks for reading. Your comments will be highly appreciated in the box below;
Most of us have written off those villages and rural areas who hasn't developed yet. Yes, I believe this too because I currently live in a rural area and I feel like no much opportunity here due to the fact that the area doesn't look like city life. All my life, I have been used to city life before moving to these rural areas, and I believe that you will agree with me that "When you have been living in the city, and you transition from living in the city to living in rural or underdeveloped areas, you can hardly cope".
It will look like the world is against you, and you feel dejected and sad because the new environment seems to be hindering you.
You only feel that those underdevelopments are hindering you from becoming someone great, simply because you have trained your mind to believe that, and that is what will surely come into reality. A wise man once said, "Once you believe, you are halfway there already". All you need is just a little effort and prayer, then you are good.
Let's not digress too much.
Today, we want to talk about making money in the slum. When we talk about slums, we simply mean those underdeveloped areas, rural areas, or low-income neighborhoods Is it really possible to make a good amount of money from these areas? Or is it just a myth? Let's find out together.
The Myth About Making Money In The Slums
Myth One
Imagine a community where most of the houses are ancient houses, and you just came from nowhere and built a Mighty House there. Such a person could be an easy target, and perhaps, if the people in the community don't attack such a person. It might lead to unnecessary hatred and jealousy, which could still harm the person's relationship with the community.
This is the reason why most people prefer to build something substandard in order not to serve as prey. It is not that they don't have this money. They actually do.
Myth Two
This is the case with most businessmen from low-income communities. Most of them don't know what business analysis is all about because some of them are ignorant, while others are illiterate. The few educated ones that knows about this feel it is not necessary to carry out a market analysis. The reason for this is that some are too lazy to do that or some don't just see the importance of doing it, and that is why most businesses in the low-income communities don't thrive.
Unlike their counterparts in the cities, they know fully well the importance of Market analysis. In fact, they dare not do it because business in the city is highly competitive. Even with your market analysis, you are still struggling. Imagine if you didn't do it, it would be so pathetic.
Facts About Making Money In The Slum
Fact 1: Millions Of Dollars Flow Through Low-Income Communities
However, the truth of the matter is that the people in these professions barely survive because they rely greatly on their salaries. It has been confirmed over and over again that you can never be wealthy through salary work. It is just meant as a stepping stone for you or more like a ladder to gather the resources to start your own business.
Having your own business is the key to wealth. This is the reason why those pepper sellers, fruit sellers, drivers, bricklayers, and dumpster collectors you see down the streets are making daily money and building a system where in a few years, they can own properties in their name.
However, I am not saying it is easy for these people to build wealth overnight. It can take years for them to build the wealth doing their daily business and saving. It is much more possible for them to own a property in their lifetime than for a salaried worker to have a property in their name.
Don't misunderstand me, I am not saying that salary owners don't own properties. Of course they do, it is just that most of them don't because the salary comes only once in a month and before it comes, bills and debts have consumed the money.
Unlike businessmen who make money on a daily basis, they can easily save a quarter of each day's earnings. Reinvest it into their business. With time, they will get there.
Fact 2: There is Hidden Wealth In Small Businesses
There is hidden Wealth in Small businesses. If it is not working for them, why do we see more people Going Into small businesses?
To confirm that, go out of your house and stroll through your streets and other streets. Try to count the number of shops, malls, and the like. You will see that they are very much. Why are there so many shops, which shows it is working for them. So many people left their salaried work and ventured into small businesses, and after so many years, you will still find them doing the same business.
This shows there is hidden Wealth in it. If there is no hidden Wealth, many people would have left the business. Moreover, these small businesses are the backbone of every economy. As small as they are, they can improve and destroy the economy of a country even more than a big organization could.
Why Does It Look Like There Is No Money In The Slum?
Short Personal Story
I moved into this rural area a few years ago. And when I first got here, it was really difficult to cope because life here in the community is archaic for my liking. I always tell my friend jokingly that I live in the village, even when it is not really a village in the real sense. It is just that it is an undeveloped area, unlike its counterpart.
My mindset from day one was that everyone who lives in this community is poor. Yes, to some extent, I might be right, but we do have silent wealthy people among us.
Sometime last year, a private school was established in my area, and this school is so big to the extent that everything needed for a school can be found in this school. I found out their tuition fees, and it is jaw-dropping because it is really expensive. I was saying to myself one day, " Who are those who will go to this school?
Fast-forward to some months later, and I found out that it was also people from those communities who were coming to the school. I was wondering how anyone in these low-income areas could afford such a high tuition fee. This proves that there is actually money in the slum. Stop underestimating the slum.
Real Lesson About Making Money In The Slum
If you want to make money in the slum, you must know that it won't come on a platter of gold as it does in the city. You need a lot of consistency, hard work, and discipline to make that happen. Businessmen who succeed in the slum know this already, and they ensure they do this.
This is why I started my gas business in the slum; I am ready to give it whatever it takes. The picture of my shop is attached below;
How I started My Gas Business, My Experience & Challenges I encountered
One day, I decided that enough is enough. I calculated all the money I have saved while still in school because I know that life after school is not easy. So, I was already preparing even before I finished school. I was wondering what business I could start without having to break the bank. That was when a childhood friend of mine introduced me to the gas business. He said the business is good and it moves fast because people can't do without eating every day, and as a result of that, they will need to fill up with gas on a daily basis.
I agreed with him, and he gave me the total breakdown to start the business. The breakdown is as follows:
1. Shop Rent around his Axis N120,000
2. 50kg Cylinder 2 pieces N150,000
3. Fire Extinguisher. N20,000
4. Hoses & Fittings N20,000
5. Digital Weighing Scale. N30,000
6. Gas Transfer Pump. N80,000
After doing this, I started the business. I bought my 50kg gas that I want to resell for N100,000, and sold the gas in the 50kg cylinder to customers at N150,000. The transportation fee to deliver the goods is N10,000. If we deduct the N10,000 from the net profit, we will still have about N40,000 as our net profit.
Hence, even in the slum, I make a minimum of N40,000 from my gas business. Who told you there is no money in the slums? There is, you just need to find your way.
Conclusion
Thanks for reading. Your comments will be highly appreciated in the box below;