NEW YEAR RESOLUTION: MAKE 2nd INCOME

NEW YEAR RESOLUTION: MAKE 2^nd INCOME

With unemployment running high, you should look into launching your own Internet Business, even if you already have a job.

Acquire tools to help you succeed in your own online business.

Whether you are a new Internet entrepreneur, or an at home parent looking for an extra income, there is something for everyone. Learn how now.Don’t PROCRASTINATE.

Wherever you are employed today, you must eventually have to face one of the 3 Rs: Retrenchment, Resignation or Retirement. Additionally, you will also have to face the accompanying sharp reduction in your income, your living standards and in your purchasing ability.

It's estimated that out of all the people employed in the workforce today, that only 5 out of every 100 will Retire

Independently wealthy. This means that only 5% of the people working today will be able to survive without any financial support at the end of their working days. Isn't this pathetic? Only 5%?

"I was once this, I was once that, I used to..."

I trust you are a very observant person. Do you always notice that the living standards of most people happen to go down at the end of their working days? Do you take notice of statements such as these: "I used to be a manager in that company", "I used to have an official residence", "I used to own that car"," I used to visit Europe and the US twice yearly". Very sad indeed.

Your life will unfailingly follow this same trend unless you oppose it to the contrary. To secure the kind of financial future you want, you must begin today to act accordingly. Times have changed. Officially, job security is now a thing of the past.

We presently live in very uncertain times, with fast paced change and very terrible consequences to people who do not adapt quickly.

If you are really aware of what is presently happening in this country today, you will know that you can have a 'secure' job on Monday but by Tuesday you're out of it - irrespective of your position in the establishment. Remember that even the CEOs of several banks had to step aside during the Banking Consolidation.

It has already happened to several thousands of Nigerians who thought they were best (or who were actually the best). It happened to the best in the Oil Companies, the best in the Banks and even to lowly Civil Servants whom the supposedly 'benevolent' Government employed!

Job security today does not lie in working for any 'big, secure' establishment. It lies in your own ability to do something on your own - at any given time. To be financially secure today, you have to adapt to the new nature of things. You have to adapt to The Era of Zero Job Security and the Age of Mega Successful Small businesses.

You will agree with me that Nigeria is still a developing country and that we are still passing through stages that all developed countries have already passed through.

Now, whatever it is called; retrenchment, downsizing, rightsizing, corporate restructuring, streamlining, flattening, outsourcing or re-organization. What it simply means is that INNOCENT workers LOST and will still continue to LOSE their jobs! It has just begun here in Nigeria and it is coming fast. It a stage every developing economy passes through (in a bid for greater efficiency) and Nigeria has just gotten to it. It is the stage of trying to achieve more with less workers - in order to cut costs and boost profits. The reasoning is: if one person can do the work of three, why not sack two and save money?

It has happened and still happens in the US, Europe and every other developed place. If you've been in Nigeria, I bet you've not been missing headlines such as these:

•     SHELL to lay off 20% of it's staff.

•     FG to sack 33,000 workers.

•     Sokoto State Government sacks 2000 workers.

•     51,000 railway workers sacked without benefits.

•     Over 30 million Nigerians Unemployed.

•     500,000 workers pencilled down for retrenchment nationwide.

•     Zenith Bank laid off 488 staff in 2009

•     Ecobank laid off over 400 staff (2010)

•     Intercontinental Bank lay off tens of thousands of staff in 2009

•     Oceanic Bank closed several non-performing branches and laid off staff within.

•     CBN sacks 600 workers.

•     Access Bank to sack all Polytechnic graduates (whether you have a first class or not!) plus all their University graduates with less than 21.

•     Nigerian Airways to sack 1000 of it's 2,300 employees.

•     13,000 dock (Nigerian Ports Authority) workers to be sacked.

•     Dunlop shut down Nigerian company.

•     And so on

Looking at all these, you may say that it’s not your portion, but you may not be holier than those that were affected.

It has only just begun! As a case in point consider the banks again, you think it's over? Why did you think they were forced to join-up (consolidate) knowing fully that lots of staff casualties were going to result? The answer is that they lacked strength and could not compete globally with other financial institutions. We've only just taken one step in the right direction and there are still several more left.

Do you know that the combined capitalization of all the 25 Nigerian banks are less than that of some banks in the US, Europe and even a bank in South Africa? I guess you're getting the picture and that you can see that there's obviously going

to be some more consolidation in the banking sector. It might not happen tomorrow but it not far off either. Now, this is just the banks we talked about, this is how it will be with other sectors of the economy as well.

In essence, by working for someone else (at least full time) you allow your happiness and future to rest in the hands of other people...including that of your wife, children and dependants. You leave your future blank and unstable, and you lose the present and future benefits you will receive from a successful personally owned and easy to run business.

Lots of simple & profitable Part-Time businesses you can begin today do not even require your presence to run. You can start some with Zero naira capital and most are very easy to learn! Which means that you can learn them.

The Fastest Way to Get Rich.

You can make money from the Stock Market, from investing in Real Estate or even by depositing your money in a bank. However, the fastest way to make some serious money is by starting something for yourself.

This does not mean that you should quit your present job - if you have one. You can easily combine your present work with other simple to run businesses - which require very little time. In the end, you significantly increase your income every month while still doing almost the same amount of work!

Below is a table which shows Income Return and Asset Growth rates for different investment vehicles:

Investment               Income Return                      Asset Growth

Bank Deposit                     6%-10%                                             0% p.a

Property                            5-7%                                                   10% p.a

Shares                                10-15%                                               20-50% p.a

Own Business                    100-200%                                           500-1000% or more

At DMISL MSII-Program, We will also teach you the types of businesses to choose from so that you can benefit from asset growth - which makes all the difference.

 "Today very few families can survive on less than 2 streams of income. In the volatile future, you will need a portfolio of income streams from completely different and diversified sources"

-- Robert G. Allen

Author, Multiple Streams of Income.