Thread by @NaijaFlyingDr

Basically set up the space to talk about the three main categories of advice I see asked about in my dms....which I can never really reply because the answers would really depend on the person's circumstances

But before I started addressing them I decided to talk about my own career journey especially recently when I started interviewing high net worth entrepreneurs ($100m+) in Nigeria and abroad

I was kind of disappointed by what I learned. Because I wanted a blueprint and what I heard where really stories that highlighted luck, trends & coincidences rather than skill.

Of course there was hardwork involved , in most, only a few more hrs than a regular person puts it.

I actually divided them into two groups.

The passive "billionaires" where things just happened for them; a license, a piece of software, a fruitful relationship....they didn't really even want or expect it

Then the coconut head entrepreneurs. Wealth came at great personal cost for them. Huge sacrifices. Ruthlessness. And massive tradeoffs as well as a lot of failure.

I used this as an intro to my career talk because I think a lot of people's main aim isn't to be massively wealthy at all costs. Its too live "soft" and make some impact in the world.

But I feel (maybe wrong) that most wouldn't want to take the "coconut head billionaire" journey.

If serendipity happens fine. But all that excess hustle and broken relationships...no.

So that leads me to the main sets of questions that I get asked:

1. Japa
2. Masters/Higher degree
3. What do in invest in?
4. Confused about job/sector to work in
5. Small business issues

On Japa: You are more likely to life soft, not $100m+, but soft if you japa. So Japa is consideration on the table for most people even you come back later.

If you choose to stay and play, do it in a sector/job that is rewarding .

Masters/Higher degree: It helps. Some places like the World Bank/IMF won't consider you for certain positions without one. Definately worth thinking about especially if you are in sector that values MBA/CFA to climb into the c-suite.

Economics teaches us that in the Labour market recruiters....especially lazy ones, use qualifications as a means to differentiate for certain roles. Statistically, it gives you a better chance. Although this is rapidly changing and in certain sectors completely irrelevant.

What to invest in?

For beginners, fixed income, regular stocks. If you decide to deep dive into one asset class, try to get to know the asset inside out. Develop expertise, invest as part of a club or a collective. Try to stay diversified.

Confused about what sector to work in or what job?

Try to find something that pays the bills, has a good upward trajectory, tallies financially with the kind of lifestyle you want to live & that is bearable.

PLEASE DON'T "follow your passion" into something that cannot fund the lifestyle that you want to live.

I like yoga, but I do it on the weekends. Find a balance something you like, something that PAYS and something that impacts the world in the way you want to.

Most small business questions are about growth. In Nigeria, growth and scale are hard. Cracking distribution is difficult.

I have three thoughts here that can x10 the effort you make:

1. A stellar sales and marketing team that includes the founder

2. Strong relationships if your business is B2B

3. Strategic alliances.

4. Understanding how to make yourself more backable. (Will attach a thread on this.)

That's the summary if your missed the spaces session.🙏🙏

https://twitter.com/NaijaFlyingDr/status/1447336712242348036?s=20

https://twitter.com/NaijaFlyingDr/status/1478292619071533059?t=ccecaZp35Ob_IvWuNQtN9w&s=19

https://twitter.com/NaijaFlyingDr/status/1478125751270576130?t=LELwTWIy11i_vYUaMX91HA&s=19

For people that are looking to raise capital try to learn the basics about private equity, venture capital, standard bank loans and project finance from my YouTube here;