How To Grow Your N10 000 Into a Million

Money comes and money goes and the pursuit of wealth has become even more fierce in this economy. Because the capital you may need to accomplish you entrepreneurial passion may not be readily available, here are a few tips which can help you grow or multiply your cash at hand.

1. Real Estate

Now you know you can’t get any ‘Real Estate’ deal for N10,000… or can you? There are very lowbrow areas where rent payments are made monthly, some weekly and some even daily. This is a steady way to grow income. Imagine renting out a part of your room space (all depending on variable circumstances) on a weekly N10,000 naira to a working-class individual who needs a place close to his office? That’s roughly N250,000 in a few months. Now imagine you had extra rooms…Apart from that, you can also act as a rookie estate agent. Merely linking a buyer with a seller or a landlord with a potential seller can earn you some commission

2. Stock Market Trade

A guy quit his job and sat down in his room for a week with only food and his cell phone and laptop. He downloaded an application linked to stock trade. He engaged in buying and selling stocks of companies and in a week earned himself over N100,000. Of course, a lot of risk is involved, but smart decisions can lead a smart person into some smart millions. Guess you know you have to do your research well and be prepared to understand the market moves and make your own smart moves needed to make a living from this.

3. Participating in the FCMB millionaire promo

First City Monument Bank is currently running a Millionaire Promo. It has been on since March and will continue till October. It is very easy to get in, all you have to do is save N10,000 (only N10,000!) in your FCMB account for 30 days and a million naira could be yours, or save N50,000 for 30 days and you could win two million. You can also win other stuff like generator sets, flatscreen TVs and other electronics. The dope thing about this is that it’s on for a while so you can continue to participate. From what I hear, this is the fourth season of the Promo and lots of people have been very happy from last year’s promo and even the ones before that. You should check it out. Here is the link to where you can find details http://on.fcmb.com/Millionaire-22

4. Starting a vegetable farm

Food business is always good business, especially in Nigeria. Vegetables are also widely used by everyone, irrespective of social status. I think it’s safe to say vegetable prices triple between when they leave the village and when they arrive their destinations. The most successful farmers are those who have farms outside town and bring their produce into town to distribute in markets.

Think of purchasing some seeds and pick up some sort after vegetable to regrow on your small piece of land and begin something now. No land? Not a problem there are folks who would gladly lease out their pieces of land for an agreed later date for payment.

5. Loans

We have seen secondary school students buy phones with their hard-earned money. People need cash to run day to day. Weekly loans seem to play an effective part in this elaborate money doubling scheme but it takes patience, strategic planning and a solid business model. (you can’t afford to keep chasing debtors round the estate block). Of course as some money comes in the loan values increase (span a decent plan over the space of a year, and bam! you’re there)

NOTE: Everything good comes over a course of time, nothing great is built overnight (Rome can testify to that) so don’t expect overnight successes, there’s nothing like that. Leonardo Di Caprio began doing TV commercials as a child, the KFC founder struck gold at 75 (you get the point). All the best in your quest!!!