Be your own boss is created to help people become self reliant and less dependent on salary jobs.In this blog, I will be bringing to you my posts to encourage you find alternative source of survival because of the insecurity associated with salary work.The corona virus pandemic has been an eye opener to many who have taken paid jobs as there core means of livelihood.
Globally, many organizations are winding up and retrenching their staff, there has been an increase in the numbers of job losses.My blog will give you opportunity to rub minds with people in discussing how to survive in the face of global financial crisis that will soon hit many economies. Please this blog does not encourage ponzi scheme,it is created to encourage you to read from other people to know the nature of businesses they have been into.There are a lot of people with capital who do not know where to invest it on.I will be giving you life and genuine testimonies of people who engaged themselves in alternative source of income to supplement there salaries.Don't fail to drop your comments after reading.
My fellow Nigerians , the oil price is decreasing and it's not looking like it will go up soon. I understand our cost of production per barrel is around $23. The implication is that Nigeria is now producing at a loss. Even at that, Nigeria is still unable to sell its oil.
The oil tankers bearing our oil cargoes are stranded on the seas with no buyers picking up cargoes. Yet, we are paying the oil tankers for every day the cargoes remain unsold. With half of the world shut down, because of Covid-19, the demand for energy may not go up soon.
If this trend continues, oil producers will soon stop producing and start declaring staff redundant. As the days go by, many state governments in Nigeria will be unable to pay salaries and contractors.
The Federal government may not be able to continue to issue sovereign debt instruments to fund its operations, but FAAC cheques to states may become very light.
So, if you're a worker, conserve cash, do some currency hedging, if you have the skills. If you can liquidate some peripheral assets and increase your cash holding, please do so.
Avoid unnecessary spending and act like you are earning half salary.
If you have land that you can farm on, it may be a good idea to plant some foodstuff. It may help you and your family in the coming months. If things improve, you lose nothing.
If you're a trader, you may want to diversify into trading necessary goods.
If you're a contractor be very selective about which company, govt agency, or individual's contract to accept. Better to demand cash advance from contract principals. The point is, please assess every contract from the point of view of certainty of prompt payment.
I don't know all the answers but I hope this helps someone. These are not ordinary times. It’s time to have a rethink on our spending habits. May God Almighty see us through. All will be well.If you know of any other good business you have invested in that is profitable,do not fail to comment.Others might find it helpful.
Globally, many organizations are winding up and retrenching their staff, there has been an increase in the numbers of job losses.My blog will give you opportunity to rub minds with people in discussing how to survive in the face of global financial crisis that will soon hit many economies. Please this blog does not encourage ponzi scheme,it is created to encourage you to read from other people to know the nature of businesses they have been into.There are a lot of people with capital who do not know where to invest it on.I will be giving you life and genuine testimonies of people who engaged themselves in alternative source of income to supplement there salaries.Don't fail to drop your comments after reading.
My fellow Nigerians , the oil price is decreasing and it's not looking like it will go up soon. I understand our cost of production per barrel is around $23. The implication is that Nigeria is now producing at a loss. Even at that, Nigeria is still unable to sell its oil.
The oil tankers bearing our oil cargoes are stranded on the seas with no buyers picking up cargoes. Yet, we are paying the oil tankers for every day the cargoes remain unsold. With half of the world shut down, because of Covid-19, the demand for energy may not go up soon.
If this trend continues, oil producers will soon stop producing and start declaring staff redundant. As the days go by, many state governments in Nigeria will be unable to pay salaries and contractors.
The Federal government may not be able to continue to issue sovereign debt instruments to fund its operations, but FAAC cheques to states may become very light.
So, if you're a worker, conserve cash, do some currency hedging, if you have the skills. If you can liquidate some peripheral assets and increase your cash holding, please do so.
Avoid unnecessary spending and act like you are earning half salary.
If you have land that you can farm on, it may be a good idea to plant some foodstuff. It may help you and your family in the coming months. If things improve, you lose nothing.
If you're a trader, you may want to diversify into trading necessary goods.
If you're a contractor be very selective about which company, govt agency, or individual's contract to accept. Better to demand cash advance from contract principals. The point is, please assess every contract from the point of view of certainty of prompt payment.
I don't know all the answers but I hope this helps someone. These are not ordinary times. It’s time to have a rethink on our spending habits. May God Almighty see us through. All will be well.If you know of any other good business you have invested in that is profitable,do not fail to comment.Others might find it helpful.
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