Think Insurance

Think Insurance

October was a tough month for almost all citizens of Nigeria and even tougher for some business owners and entrepreneurs in the country. Businesses close up in just a day; the labor of years or months went into thin air. And for the first time in my life, I saw that insurance is not just a luxury; it is necessary.

Before now, I saw insurance as an unnecessary expense, like, “who needs it anyway? after all, we are covered by the blood of Jesus. ”

A business person or entrepreneur’s life can be frightening, from getting funds, ideas, and the right company (relationships/employee). Sometimes, the business world can be scary and accompanied by the risks of losing capital, looting, robbery, and other unknown incidents. However, we can’t seize being entrepreneurs just because of the risks involved.

Have you ever thought of the different insurance you will make in your business journey? Okay, how about thinking of reasons to insure your business?

Well, no need to think so far. As a good person, I thought for you and did the research, too. So here are the reasons why you should think of insurance;

  1. Saves your business and keeps it running: when an unfortunate situation happens, aside from you and your relations, who can give you a helping hand? Business insurance got you covered on this; no need to go about knocking on doors for help.
  2. Adds Credibility to your business: it gives your customers, investors, and patrons a good perspective of your business, that it’s safe and a good choice. They trust you more. Some contracts require it. In other words, you wouldn’t be qualified to receive some contracts if you don’t have business insurance.
  3. Secures the business’s future: With business insurance, you can be at ease while watching your business grow.
  4. Prevents the unpleasant aftermath of being sued: I have heard people say, “one lawsuit could be the end of your business.” Without business insurance, there are high chances that a business will fall apart after encountering any lawsuit of a liability claim.
  5. It covers natural disasters and calamity: Natural disasters or calamities cannot be controlled or predicted. Thus, they can happen anywhere. If a business without insurance is affected, the owner on his own takes care of it.
  6. Insurance is compulsory in some countries: Business insurance is compulsory in certain places, and by doing otherwise, you are not complying with the law.
  7. Protects employee: Human resource is the biggest capital for any business. When employees work very hard to deliver value, there is a possibility that an employee might get injured. As an employer, it’s your responsibility to provide medical care. If there’s insurance, that would be taken care of, too.
  8. It gives peace of mind. I tell you, you deserve the peace of mind.

Every business is different. So, the insurance needs of every business are different. You should see an expert to guide you on the insurance plan you need.

So, do you think there’s a need for business insurance? Why? We will love to hear from you in the comment section.

The emotional cost of being an entrepreneur

The emotional cost of being an entrepreneur

Hey! I know you have decided to go into entrepreneurship and make it really big, and nothing will stop you. But it will interest you to know that you need more than financial and business intelligence to succeed as an entrepreneur.

You might have heard this statement several times, but have you taken your time to think about how emotional intelligence affects you as an entrepreneur?

Let’s take a glean at some lessons from my failed airtime business. Especially the part no one talks about; the emotional cost of being an entrepreneur.

So, I was a young high school graduate full of ambitions and enthusiasm. Oh! I was a financial-independence freak! I started my first business, and it was going smoothly until the emotional side I refused to develop began to show its ugly head in the business.

This lapse in my emotion affected my decision-making process. I couldn’t afford to say no to demands, especially regarding providing what I refer to as financial help. I would assist anyone who came for financial assistance, even if it meant taking from the business’s capital. As you might have guessed right, the business no longer exists.

When the pressure for business stability became too much, and the business was beginning to fail, I leaped into depression and subsequently closed down the business.

There’s one more thing you need to learn before venturing into entrepreneurship, especially when you plan to stay long, and that is EMOTIONAL INTELLIGENCE (EI).

The role of Emotional Intelligence in entrepreneurship cannot be over-emphasis. Here are some reasons:

Entrepreneurs are often alone: An entrepreneur bears the business’s worries and anxieties alone, except he wishes to share them with God. So, the weights of running the business are totally on him.

– Failure: At some point, an entrepreneur encounters failure such as the inability to receive funds, liquation, inability to pay employees’ salaries, and many more. Failure comes with lots of emotions that, when not handled properly, can lead to depression.

The entrepreneurial spirit is tough to turn off. An entrepreneur is naturally a passionate and determined person. So, he might become so busy with business that he would shut all other areas of his life out.

Seeing the psychological cost of being an entrepreneur, it’s crucial to learn and develop Emotional Intelligence for sanity purposes. It starts by focusing on how you feel. Intentionally, take note of your emotions throughout a day, and give a name to what you’re feeling.

You’ll also want to focus on your actions and how they relate to the emotions you express. Take note of whether your emotions drive your choices throughout the day, and what emotions drive certain actions.

Overcoming the emotional trolls entrepreneurship brings is not by ignoring them or pretending they aren’t there. It’s by accepting them, not just that alone – you ensure they don’t interfere with your goals and plans. Likewise, engaging someone will be a great help.

Awareness is another way of defeating the emotional trolls that come with entrepreneurship. Before you become an entrepreneur, learn the emotional price of being an entrepreneur.

Do you know other emotional trolls that come with entrepreneurship? Let’s talk about them and the possible ways to overcome them.



What if I tell you that COVID did some good! Yes, you read that right, the Global pandemic that turned the world upside down and brought it to a standstill did not do us only wrong but some good, as well!

The one good thing was to expose our weaknesses or areas of laxity that we never knew about. It brought us face to face with areas we failed to deal with, the knowledge we refused to acquire in different areas of our life, finance inclusive. So, when I said it did us some good, I know what I’m talking about. During the pandemic, people whose source of income was just salary felt the heat more—thereby forcing us into searching for other sources of income.

Did you know that there are different types of income? Whatever your answer is, follow me, still, as we go through my novel found knowledge together. In one of my searches, I discovered that income is categorized into three.

There are three types of income; the active income, the passive income, and the portfolio income.

Active Income

Active income is the money that you earn from while working, either as an employee or an entrepreneur. The unique thing about this income is that you are paid for the work you actively do. When you aren’t active or stop rendering services, then the income seizes. That’s the popular income we all know or have, and the typical examples that come to mind are examples are salaries from jobs and profits from businesses. Active income solves mostly short term problems.

Passive Income

A passive income is one in which money is usually received regularly (might not be daily though) basis, where no additional effort has taken place. Passive income flows to you or your family, whether you are sick, not in the country, or dead.

Oh, how I love passive income streams, but just that most passive income streams require significant efforts to acquire. A passive income stream grants you the luxury of making money without being there or mainly working. Passive income might not be passive initially; it might require a little time before it begins generating flowing in (patience is key here).

Examples of passive income are income derived from interest or income paid from bank deposits, rental income from real estate/property, royalties from writing a book, network marketing, etc.

Portfolio Income

Portfolio income is from investments, including dividends, interest, capital gains, and so on. It’s also the income that you make from selling an investment much higher than what you originally paid for. The con of this income is a large amount of money needed to start it. Most active income earners save up for this type of income, and you would need to do adequate research to ensure you don’t invest in liabilities. Also, you can’t determine how an investment turns out. There’s a level of risk involved (well, what doesn’t include risk in life?)

Now, we know the types of income. It’s time to work on expanding our means of income. Once bitten, twice shy. Don’t let the lessons from COVID- 19 become a waste.

It’s essential to know how money works and how we can get cash before going for any income type. It’s also important to know that not all avenues may be for you! There are options out there, and sure they might take some time to work, but the rewards can be unbelievably great when applied with wisdom and understanding.

Now you know, make a difference in your finance. I hope this was helpful?

Do you some other form of income you can share with us? Let us know in the comment session.



Yes, you read the title right! There’s a difference between an entrepreneur and a hustler, just like a wholesaler and retailer are different people. Follow me, let me tell you a story.

I was privileged to work with two bosses (at different times, though). I will tag my first boss, “Mr. Entrepreneur,” and my second boss, “Mr. Hustler.” They manage an IT training institute. Working with them, I had different experiences and feelings, and I would relate them to you.

Mr. Entrepreneur’s office is a small place yet beautifully furnished, has a receptionist desk, classrooms with systems neatly arranged with a board, and a standing fan.

Mr. Hustler’s office is also small with no particular arrangements, few systems (mostly faulty), Photocopier, or scanner (according to customers’ needs). The office is arranged according to the task for the day.

Mr. Entrepreneur employs qualified or trained people and offers staff training monthly. All staff members have their responsibilities duly stated. He believes in giving value to his students.

Mr. Hustler employs few high school students/graduates with little training; they also run his other petty businesses. He gives them materials to use and copy on the board for students. He will say, “you don’t go too far with them( their students). Just the basic is enough for them. Moreover, they wouldn’t know”.

At the end of the training, Mr. Entrepreneur awards the student with certifications immediately (as it’s included in their fee). Mr. Hustler, however, collects money for certificates and never shows up the certificate, just stories. Employees have to make up a story each time a graduate shows up.

Mr. Entrepreneur specializes in just IT training and gives the best. Mr. Hustler shifts to any area in IT that pays. You may not be surprised if he becomes a technician tomorrow. Mr hustler makes the photocopy, does the typing and printing services, stationery sales, laptop, and phone repairs, phone and laptop accessory sales, scratch card sales, IT training, and management training. Not like we have all these available in the office, we just switch from one to another when there’s a need.

Mr. Entrepreneur has sound financial management skills; all transactions are duly recorded with receipts and, on a few occasions, had issues with his staff salaries. On the other hand, Mr. Hustler would pocket each payment immediately without any form of record, use the business income as he wants, and leave staff salaries unpaid. Well, they leave after a while, and new staff members take their place.

Mr. Entrepreneur’s business has expanded as they have more students because of the needs they meet and the excellent services they give. Mr. Hustler is still hustling, his business is stagnant, but he has built a house and owned a car.

Working with Mr. Entrepreneur was impactful as I got my skills sharpened and got new skills. Working with Mr. Hustler was draining as he never gives room for excellence, just anything that brings money.

One of the significant differences between an entrepreneur and a hustler is their goals; an entrepreneur works with a long term goal of building and sustaining a long term business and opportunities while a hustler works with a short term goal, which is to make quick money.

A hustler needs to keep hustling to avoid his income crumbling while an entrepreneur can relax at a point, and the wealth system he has built over the years works for him.

So, are you an entrepreneur or a hustler? If you are an entrepreneur, congratulations. If you still a hustler, it’s not a bad thing; just don’t let your aspiration stop there. Seek to build a sustainable business.

What else does a hustler have to do to become an entrepreneur? We would love to hear from you in the comments section!

How to Avoid Empty Pocket

How to Avoid Empty Pocket

I hate an empty pocket, and I know you do too. In fact, from childhood, I had always been a financial-independent​ freak. I don’t like depending on another person for money, no matter how reliable he/she is. That’s not even sustainable. So, it wasn’t surprising when I started selling airtime almost immediately after my secondary school (high school).

I discovered I wasn’t satisfied with the meager revenue that the business was generating. I needed more money for many things. I eventually ended up spending both the capital and the profit, which leads to the company dying a natural death in a few months. By the way, that’s not really what I want to write about today.

After graduating from the University, I didn’t want to repeat the same mistake of using my little savings to start a business when I need money. So, I opted for a job in a field I was so passionate about.

I spoke to one of my senior friends about the plan, and his advice was, “forget all this passion thing youths talk about. The most important thing is money. Learn a trade, start a business, and become an Entrepreneur. Don’t follow any passion”.

Really? I couldn’t believe he said that to me. Thank God, I knew better. Just be careful about where you get your advice from. There are two quick ways to destruction, taking everybody’s advice, and rejecting everybody’s advice.

I learned later in life that we all don’t need to be entrepreneurs to build our wealth and be financially independent. You can follow your passion and with the right knowledge and build wealth.

I might not be an entrepreneur, but I could be that employee that negotiates her pay and invest wisely to build her wealth. But you can start a business if you are sure you have found a solution to a problem but if you are as broke as I was then, get a job and if you want to multiply your money, invest!
Don’t go starting a business with the thought of making money immediately. Trust me; you will use all both your capital and profit and end up like my recharge card business.

Do you want to avoid an empty pocket? My counsel is simple – sit down, take a deep breath, decide what you want (either start a business, invest, or get a job) and intentionally go for it with Wisdom. Afterward, take a chill Zobo (Hibiscus Juice) and look for me to thank me.

The Blood Money Psychology

The Blood Money Psychology

Emaka grew up in a village in Enugu. One day, his childhood friend returned from Lagos with the latest car.

Emeka wanted to be rich, too. So, he begged his friend to take him to Lagos so that he can hustle and make his own money.

On reaching Lagos, it turns out that his wealthy friend was an occultic man and he convinced him to join the occult group. Emeka was resistant at first, but after some more persuasions, he succumbed and used his father, mother, or somebody he loved dearly for rituals. He became extremely wealthy.

If you are a Nigerian born in the early and mid-90s, I bet you can relate to this story.

I grew up with two terrible mindsets about money.

The first one was influenced by Nollywood, and it is that every wealthy person belongs to an occultic group.

Where I spend the early part of my life, seeing an extremely wealthy person was a privilege we could not afford. My definition of wealth was any family who could afford a generator, television, and maybe a fancy car (Fancy – referring to any other vehicle apart from 504 or 505 Peugeot).

Well, some of us were not privileged to be part of that league. So, we usually sneak out at night to stood by the window to see movies. If we were lucky enough, they would open their curtain or, better still, allow you to go in (if you are a friend to the family).

The type of movies we watched those days were full of something like my introductory story.

These stereotyped storylines were made for entertaining, but the unintended consequences were that it was gradually implanting on my innocent, naive, and young mind, a wrong perspective about wealth.

This kind of plot was so consistent in Nollywood movies that it became so real to me. So much so that I began to see any good car on the road as a product of ‘blood money.’

The second mindset was influenced by a church I attended for six months after my secondary School while I was doing computer training.

We were doing a series of Bible studies on the end time, and what I understood then was that all the world’s wealthiest people are potential antichrist.

So, as far as I was concerned, once you are a billionaire, you have pitched your tent with the devil.

It was so serious that I concluded that it’s impossible to be wealthy and influential and yet be part of the Kingdom.

What those mindsets did to me was to take away my confidence, becoming rich. I told myself, “since I wouldn’t want to use my parents or siblings for ritual and I do not want to be an antichrist, the best thing is to just remain in the middle class. After all, godliness and contentment is a great gain.

The good news is all those mindsets have changed because I realized they weren’t true. Thanks to the balanced doctrines of FCS KSU and Chapel of Restoration. My first two years in the University were more of a mindset reform and spiritual transformation than they were of Academics.

I also come to learn that an average Igbo man who migrated from his village to Lagos does not have to be an occultic member to make money. Most of them (if any) do not belong to any cult at all. Their wealth is a product of determination, commitment, and divine empowerment.

I am a firm believer in the fact that God gives the power to create wealth, and a man can yield to him and build capacity to lend to nations. That’s the scripture.

In case you are still having similar mindsets about wealth as I had before, I want you to know that it’s not your fault. We are all products of our nature (genetic make-up) and nurture (environment). You may not be able to change your nature but can unlearn everything you learned from your environment that is toxic. That’s what life is all about, learning, learning, and relearning.

Guess what, I can help you with it. I will be writing a series of posts about how you can develop a healthy mindset about money in August. You can subscribe to the series for free at

Stay tuned!