Topic: To be truly rich, you need to own a business. (Read 90 times)

What you said is a fact, to be rich you need to have your own business, anybody that you are working for will only pay you for the potion of work that you do for them. A worker is like a tool to the employer, if a machine that be more economical can do your job, the employer will choose the machine over the worker, so it is not easy to become rich working for another person. If you are doing your own business and it grows, the excess profit belongs to you and you can become rich if you manage it well. This is why cryptocurrency business is gaining ground and many youths are adopting it because it will make them to be self employed rather than depending on salary alone that might not change their lives to become rich.

And it can also mak someone rich, wen u mak a good business ur choice because I have seen many people dat use their business to become rich in ur country.

It's only about buying the bear market but actually know what you are getting yourself involved in also matters because alot of things will be at stake with your investment if you are familiar with what you are doing and I believe the basics of Bitcoin should also be part of those little knowledge that one would need to be successful in an investment and I say this because of the lots of person that get involved maybe due to high profit reason that they might have gotten off someone else.

Been rich by owning your own business,is through but there are some measures that are needed to be taking also to become rich been a business owner.you might own a business and you are not rich just revolving in an average circle of survival or surviving your business.but been rich in that business take discipline, consistency,hard work, patient, innovation and a lot more to be rich.but owning a business can survive you and keep you out of extreme poverty,which is very important to keep you and your family out of hungry.

The mentor wey introduce you to bitcoin, did he tell you that as a new person you should invest in a little amount wey you no go come Dey panic at the end because bitcoin price go down? Yes bitcoin Dey bring profit and as you Dey do business you can invest in bitcoin but that doesn’t guarantee you to go and put all your savings or the profit wey you Dey get for bitcoin, as a business owner you should try and use your head because sometimes business can down and you fit need money to make your business bounce back and at the point your money go Dey bitcoin and the price go down how you wan take do? Or you will like to sell it like that without profit and still lose something from what you invest.

From my opinion I will advise you to invest like 30% of your money that you have to invest in bitcoin and hold to see if you can be able to buy more, I’m saying this because I don see many people wey be say at the end them go Dey panic say them invest all their money and them no know say na like this bitcoin be if not them for invest small amount, make sure Una understand bitcoin before una go go spoil bitcoin name.

How will you not believe that someone can get rich through running their own business? It is not only politicians that are rich. Politicians are only rich because of the opportunity that they have to get there to steal through different means. People get rich through running of their own business, everywhere in Nigeria there are businesses that are established and flourishing. If you go to big markets, you will be shown traders who are turning up millions in returns. You only have to learn the ropes of the business that you are dealing with, don't miss pleasure with business and don't use one strategy for all type of business. Again, one thing is sure and that is, you don't get reach by having just one business. You need multiple business so that your income is also increased and that is how you have excess to keep investing.

However, I thought you would say it is difficult to run business in Niger Nigeria and that one na true because of high taxation, bad road, no electricity, no access to cheap loan etc.

Note that accepting Bitcoin as a payment option in your business is totally different from buying Bitcoin from the profit you're making from your business and for each option, the approach you apply is unique and different. If you intend to incorporate Bitcoin as a payment option, you've got to consider if your buyers will be willing to pay in Bitcoin but if you intend to buy Bitcoin from the profit that comes from your business, you've got to ensure that whatever you're doing doesn't affect the efficacy of your business.

Also note that the profit you hope to get from investing in Bitcoin won't come too soon and it might take you a long time and a stretched level of consistency before you would have bought enough Bitcoin that will potentially place you in a good profit and so it's best while planning the amount you will use in buying your Bitcoin you don't buy too aggressively and allow your business to suffer in the process.

Owning a business is also a good investment option and if you're fortunate to locate it in a good environment and you're able to carry it out effectively, it could serve as a good way of diversifying your investment portfolio into Bitcoin and other options. In our society when a single stream of income isn't favorable again for the majority of people, having multiple investment channels and being able to buy your Bitcoin from your business would place you at a good advantage better than most Bitcoin investors who are salary earners and depend on their salary for their DCA.

Well OP I will say as a Nigerian one should not only depends on only one source of income, and also I will do advise if investing in a business it  best for one to also consider investing in bitcoin as a backup plan just as you have said.

You do speak the truth as regards one being truly rich from owning a business rather than being employed, dependant on a boss and paid a certain salary despite the economic season in the country and with loans as well as tax deductions and other bills at the end of the day.
Even with a business though, true wealth I believe, comes from having multiple source of income entirely different on well developed systems that can function without much interference and produces positive returns in value and cash at the end of the day.

Still, I think that Bitcoin is a great future investment for wealth with a good method as DCA or HoDLing as fondly called within the Bitcoin ecosystem. A lump sum investment in Bitcoin, is also a good strategy to adopt but the scope to get the best return, is if you can accumulate Bitcoin between 5- 10years without liquidating or delving into other altcoins or investment strategies as may also include pursuing a career path in trading rather than staying focused and securing the asset in a good wallet until due time before considering diversifying or withdrawal into personal bank accounts and further reinvestment options.

There are several ways can be rich and I also want to point out that, personal wealth and riches is determined by oneself and not letting the opinions of others count and just like one of my favorite comedian would always define riches as “The ability of want to provide for his needs without bothering another person” from this definition, anyone who can provide for himself and his family comfortably is already rich and should be contented.

I think the idea of riches should be preached along side with contentment else one will run out of value and be ready to do anything to make this money at all cost and that’s not right.

Being self employed or starting a business is a great idea but it might also be frustrating and disappointing especially is there is no backup from anyone.

I never show more interest on business, since I was born because I feel is a wasting of time for someone to become rich in d country, but since someone introduced me to retail business which I started wit little capital last 4 years, it has created more opportunity for me which am planning to include bitcoin to my business, were I will b putting money every bear season because I was told dat someone can start bitcoin business wit any amount, but mak sure u buy during d bear season and hold for long years before u can sell to mak money which is d impart I received from a mentor and I will soon establish it, I believe someone can truly get rich through personal business, what is your opinion.