Oyom Ojo Entreprenuer

08/11/2022

Hungry for financial success? Watch this👇

25/10/2022

Hungry for financial success? this is for you!

17/10/2022

Affiliate marketing is a perfect side hustle😍

05/10/2022

Hungry for Financial Success? This could be you!

04/10/2022

27/09/2022

4 WAYS TO LIVE ABOVE THE CURRENT INFLATION IN NIGERIA!
It’s no longer news that the prices of goods and services are becoming outrageous, causing the overall cost of living to be unbearable for an average Nigerian.

This general increase in the prices of things, and the fall in the purchasing value of Naira due to the Naira devaluation on exchange rates is felt by everyone at all levels.

Inflation could make money saved today less valuable tomorrow. It could even disrupt your retirement plan, thereby leaving you with little funds to take care of yourself at retirement.

For example, if an investor earned 15% from investments in bonds, but the long-term inflation rate was 12%, the investor only earned 3% in real terms.

In this post, I’ll attempt to highlight 4 ways you can protect yourself from the rising cost of living and to ensure that your finances do not get hurt during this period or to cushion the effects, if you’re hurt already.

1. Increase your income stream
Cutting down your budget is a good decision as it helps you achieve financial discipline, but it will get to a level where you will have nothing to cut down.

To maintain your standard of living, you have to think of ways to increase your income stream. Some of the things you can do are:

1. Take up an added business or side hustle in trending niches.

2. Renegotiate your prices with your customers

3. Sell digital products such as online courses, eBooks, consulting, to mention a few.
According to Warren Buffett, sharpening your skills and working to be at the top of your field is one prominent way you can protect yourself from inflation. Next is to invest in “a wonderful business” that makes products that are in demand regardless of the performance of the dollar.

Increasing your income stream gives you the power to do more with your money like going on vacation, sending your children to standard schools, and giving to those who are in need. Having enough money will help you achieve these things.
2. Prioritize investing over saving
Saving is important for your finances, especially for building your emergency funds.

However, during inflation, it’s not the best decision to rely on when it comes to investing for your financial future. Although the CBN has been increasing the interest rate for some time now, leaving the saving rate at 4.5% per annum.

However, this is not sufficient to cover the long-term inflation of 12% which is still assumed to rise in the future.
Investing with inflation in mind is essential for protecting your wealth and it involves choosing assets that naturally keep pace with rising prices.

These mostly include either real, tangible assets or investments that pay a variable rate of interest and appreciate/increase over time.

3. Consider buying food in bulk
One common and very effective strategy for saving money during this period of inflation is to buy food and household products in bulk.

Buying food in bulk will help you buy large quantities at lower prices than the usual purchase price.

The type of goods you buy may affect your decision to either make bulk purchases or not. Perishables like fruits and dairy products must be used fast to avoid them getting rotten.

Some of the most common goods that are safe to buy in bulk include rice, dry beans, toiletries, canned foods, diapers, canned beverages, and soft drinks. These have long shelf lives and are all safe to store at room temperature.

4. Be aware of your spending
Making and sticking to a budget every month is very important during this period. It doesn’t matter how much you make; this isn’t the right time to spend lavishly or without plans.

When you make your first budget, you need to make sure your basic needs are covered: food, utilities, shelter, and transportation.

These are your necessities, and when you know your necessities, you know you can’t cut back in these areas. But anything that doesn’t fall into one of these brackets is not considered necessary, which means it could be avoided. For instance, as much as we love to rep every wedding, buying every a*o ebi is not a necessity and can be avoided.
Therefore, do everything possible to curtail your spending by doing the following:
• Create an actionable budget and stick to it.
• Set up an emergency fund. That way, you’re able to manage unplanned expenses.
In conclusion, you can achieve real protection against inflation by creating new income streams, and practicing proper financial management.

26/09/2022

WHY YOU'RE NOT MAKING ENOUGH SALES IN YOUR BUSINESS

Because sales is a game of numbers, the volume of your sales is determined by how many people are being informed of your product or service.

The person who puts his product in front of 100,000 people will definitely make more sales than the person who puts it in front of 500 people.

Also, the person who puts his product in front of 100,000 people within the space of one year will not make as much sales as the person who puts his product in front of 100,000 people in the space of 3 months.

Do you see the difference?

This is why I bring you the 4 steps formula for 10Xing the income of your business.

1. POSITIONING (Branding & Marketing) brings TRAFFIC to your business.
2. More TRAFFIC (leads) brings more TRANSACTIONS to your business.
3. More TRANSACTIONS brings more REVENUE in your business.
4. The only way to increase your INCOME is to increase your revenue.

The best tools you can use to put your products and services in the faces of many people as quickly possible are: FACEBOOK & INSTAGRAM ADS, GOOGLE ADS & SEO, and LINKEDIN!

This is why any business that doesn’t have strong social media presence and a strong digital marketing team will struggle with growth and sales!

In summary POSITIONING = TRAFFIC = TRANSACTION = INCOME.

23/09/2022

Have you wondered why you and someone else would start the same business on the same day,
the other person is doing big things and it just looks like you're a spectator?

Have you ever imagined what's wrong?
Well...

First, it starts from your mindset…

Entrepreneurial Mindset Characteristics
If you want to learn how to build an entrepreneurial mindset, you need to know how successful entrepreneurs think. So, let’s take a closer look at 20 essential entrepreneurial mindset characteristics. Entrepreneurs are:

1. Independent
This is one of the most important aspects of the entrepreneurial mindset.

Entrepreneurs don’t follow the crowd or look to others to be given instructions. Instead, they listen to their gut and carve their own path.

As Apple’s founder, Steve Jobs, said, “Don’t let the noise of others’ opinions drown out your own inner voice.”

2. Responsible
The independent mindset of successful entrepreneurs stems from taking full responsibility.

Entrepreneurs don’t blame others for their life situation – they empower themselves by taking responsibility for improving it.

Failure, success, life circumstances – it doesn’t matter what it is. Even if something isn’t your fault, by taking responsibility for it, you’re empowered to improve it.

3. Abundant
A key part of the entrepreneurial mindset is abundance.

Entrepreneurs know they can improve a situation, make more money, and create new opportunities.

The sky is always the limit.

As a result, entrepreneurs don’t hoard money or knowledge. They’re open, generous, and understand that “you get what you give.”

The author and entrepreneur Robert Kiyosaki once wrote, “I have never met a rich person who has never lost any money. But I have met a lot of poor people who have never lost a dime.”

4. Goal-Oriented
Entrepreneurial thinking is goal-orientated.

In other words, successful entrepreneurs don’t have wishes and dreams – they have goals and plans.

So, when creating an entrepreneurial mindset, set SMART goals – goals that are:

Specific
Measurable
Attainable
Relevant
Time-sensitive
5. Not Afraid of Failure
When learning how to think like an entrepreneur, you need to look at failure differently to most people.

Entrepreneurs don’t fear failure – they appreciate it.

Each “failure” is simply a stepping stone to learn from, helping to move you closer to success. As the famous inventor Thomas Edison said, “I have not failed. I’ve just found 10,000 ways that won’t work.”

Failing at something certainly doesn’t mean that you’re a failure – just that something didn’t work out as you’d hoped, and you need to try again.

Entrepreneurial Mindset: Thomas Edison Quote
6. Growth-Oriented
Stanford University psychologist Dr. Carol Dweck studied failure and said, “For 20 years, my research has shown that the view you adopt for yourself profoundly affects the way you lead your life.”

Specifically, she found that there are two main types of mindsets: fixed and growth.

Someone with a fixed mindset believes that who they are is relatively permanent and they can’t change very much.

The entrepreneur mindset is growth-oriented.

Entrepreneurs believe that they can grow as people, learn new things, and develop new skills. They believe that – with some consistent effort – they can shape themselves into whoever they want to be.

The best-selling author and entrepreneur Hal Elrod said, “Your level of success will rarely exceed your level of personal development because success is something you attract by the person you become.”

In other words, personal growth tends to create success. So, keep trying to improve yourself.

Entrepreneurial Thinking: Hal Elrod Quote
7. Feedback-Seeking
The most successful entrepreneurs aren’t worried about looking cool – they just want to succeed, and they know that learning from feedback will help speed up the process.

Dr. Carol S. Dweck said, “Why waste time proving over and over how great you are, when you could be getting better?”

In short, don’t look for validation, seek feedback.

8. Learning-Oriented
Most people spend their spare time seeking entertainment, whether it’s social media, Netflix, gaming, reading novels, or hanging with friends.

However, entrepreneurial thinking is more concerned with learning and development. For example:

Instead of watching TV, entrepreneurs may take an online course to help them move toward their goals.
Instead of gaming, entrepreneurs will often spend hours tweaking their sales funnel.
And instead of scrolling through social media, entrepreneurs are more likely to listen to motivational podcasts or read business books.
As the entrepreneur and speaker Jim Rohn said, “Formal education will make you a living; self-education will make you a fortune.”

9. Forward-Thinking
If you want to learn how to think like an entrepreneur, you need to think long-term.

The famous billionaire investor Warren Buffett said, “Someone is sitting in the shade today because someone planted a tree a long time ago.”

Successful entrepreneurs know that big goals take a long time to achieve. So, they start with their goal and work backward, reverse-engineering every step of the way. In other words, “If I want this, I need to do that. But to do that, I need to do this,” and so on.

They keep working and are patient when it comes to rewards – they know that the tortoise always beats the hare.

Entrepreneurial Mindset: Warren Buffet Quote
10. Self-Accepting
Many people struggle with self-acceptance. When you don’t like something about yourself, it’s easy to devalue or even hate yourself.

But if you develop a growth mindset, you know you can always change and improve.

So, successful entrepreneurs accept themselves as they are, warts and all. They know who they are is transient, and they’re working on becoming the person they want to be.

11. Self-Aware
Entrepreneurs know that the only thing holding us back is ourselves (because they take full responsibility, remember!)

As a result, they practice self-awareness.

They pay close attention to their strengths and weaknesses, which allows them to improve faster and play to their strengths.

12. Collaborative
Great businesses require teamwork – after all, Jeff Bezos didn’t build Amazon alone. So, if you want to think like an entrepreneur, you need to think in terms of “we” instead of “I.”

There’s an African proverb that says, “If you want to go fast, go alone. If you want to go far, go together.”

As a result, successful entrepreneurs think collaboratively and practice their leadership skills.

Entrepreneurial Mindset: African Proverb
13. Courageous
It’s not easy to start a business.

As the famous management consultant Peter Drucker said, “Whenever you see a successful business, someone once made a courageous decision.”

But this doesn’t mean that entrepreneurs aren’t afraid.

Nelson Mandela, the activist and former president of South Africa, explains, “I learned that courage was not the absence of fear, but the triumph over it.”

14. Comfortable with Discomfort
Courage leads to an essential entrepreneurial mindset characteristic: learning to be comfortable with discomfort.

Growth and expansion require you to move beyond your comfort zone. So, when developing an entrepreneurial mindset, practice leaning into uncomfortable situations, such as rejection.

For example, after realizing his fear of rejection was holding him back, the entrepreneur and keynote speaker Jia Jiang spent 100 days getting rejected on purpose!

15. Adaptable
Entrepreneurs have big goals, and they know it’s impossible to see the entire staircase before climbing. But they climb anyway, safe in the knowledge that they can always adapt to new developments.

For example, if your first product fails, try another one. And if your Facebook ads still don’t generate sales, hone your skills.

16. Problem-Solving
Entrepreneurs look for problems and try to find ways to solve them.

If you think about it, this is the essence of every business. For instance, plumbers fix broken pipes, Netflix cures boredom, and car manufacturers help people get around.

Brian Chesky, the co-founder of Airbnb, said, “If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life.”

17. Driven and Tenacious
Drive is an essential part of the entrepreneurial mind. Entrepreneurs are self-motivated and driven to achieve their goals. They work hard and enjoy the ride, knowing that they’ll reap the rewards down the line.

The entrepreneur Mark Cuban said, “It’s not about money or connections. It’s the willingness to outwork and outlearn everyone when it comes to your business.”

Similarly, entrepreneurs set out to achieve their goals come hell or high water. When the going gets tough, they stick with it – they don’t give up.

As Henry Ford, founder of Ford Motor Company, said, “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”

Entrepreneurial Thinking: Mark Cuban Quote
18. Focused
Successful entrepreneurs are focused on achieving their goals. They’re focused, never procrastinate, and always prioritize the most important tasks.

To do this, ask yourself, “Will this help me to achieve my long-term goals?” If the answer is yes, then ask, “Is this the most important thing to do right now?”

19. Action-Oriented
“Wantrepreneurs” like to read books, watch videos, and make plans – but they never actually get down to business and work.

Entrepreneurs have a bias for action. They know that knowledge without action is meaningless. As the entrepreneur Walt Disney said, “The way to get started is to quit talking and begin doing.”

20. Decisive
The entrepreneurial mind is decisive.

Entrepreneurs must confront problems and make many decisions every day – often with inadequate information to help.

Successful entrepreneurs decide and then get back to work. They know that “you can always edit a bad page. You can’t edit a blank page,” as the author Jodi Picoult said.

So, practice decisiveness – for example, next time you’re in a restaurant, look at the menu once, decide, and order with confidence.