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Many years ago, Trade by Barter was known as the direct exchange of goods or services—without an intervening medium of exchange or money—either according to established rates of exchange or by bargaining. It is considered the oldest form of commerce.
For example, if someone has garri and is in need of beans, he must locate someone who has beans and is in need of garri. A rice farmer, for instance, who only produces rice, has only rice to exchange for, say table and chairs. To make the trade, he will have to go around the neighborhood looking for a carpenter who makes tables and chairs and who needs rice and will take it in exchange for his tables and chairs.
In this digital world, no one can truly tell if money as a currency will still be the tool that will facilitate the exchange of value.
We now hear of various digital currencies.
Digital currencies are currencies that are only accessible with computers or mobile phones because they only exist in electronic form. So the real issue here is to focus on how to use money in exchange for value.
If you’re new to the wealth creation journey, you should take critical steps to get value.
The first step you should concentrate on is to create an additional source of income. I’m sure you have heard this a lot. This is no longer a cliché, it is the reality on the ground.
Endeavor to earn more
It is no news that the daily expenses have gone up, everyone needs to have extra means of generating income that can sort out some of these expenses, no matter how small they are.
In Nigeria today, entrepreneurship has become inevitable because of the low level of economic development, and people who wish to survive and not just exist require one or more business ideas.
There are so many business opportunities in Nigeria you can get value from. Take a look at some of these business ideas you can start immediately.
Running a successful business in Nigeria largely depends on what goes down well with you. You should consider important factors like your locality, the area you live in; and the demand for such product or service.
Most importantly, do something that you do not find burdensome, and one that will offer you a good profit margin.
Here are simple ways you can start earning more.
You can start earning more by starting simple businesses like Thrift – clothes, shoes, bags, home appliances etc. The thrift business is one of the oldest business around the world and most popular in Europe and the US. According to market analyst IBISWorld, the size of the thrift store market grew by 2.4% in 2022.Between 2017 and 2022 the market size in the U.S. as a whole has grown 0.9% per year on average, and it’s younger consumers who are driving the growth of the market – over 40% of resale apparel buyers are Gen Zers and millennials. Many companies abroad are now experiencing tremendous growth by buying and reselling high-end fashion items.
Decluttering – because of the increase in the number of people who “Japa” …many people are putting up their home appliances up for sale. You can link buyer to seller and get a commission., without having to move goods around.
A bakery is another business you can start from your kitchen. Homemade bread, cakes and other pastries. This you can sell within your small community.
Also the Food business has never gone out of fashion. Whether you are poor or you are rich; everyone must eat. So find a delicacy that you’re good at cooking. Cook and deliver to your friends for a fee.
Organize after-school service. Teach children, teenagers, school leavers etc.
Start small and grow. Whatever you decide to do, make sure you earn more.
Feel free to share your experience with me.
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