If you have one million naira in your hands today, what do you plan to do with it? That is why we have published this post to show you the steps to take when you receive your first 1 million naira in Nigeria. Without wasting time, let’s get started!
We came across a Facebook user, “Prince Amaechi,” a business consultant who shared his experience on how he received and spent his first million. He wrote that making your first million either at once or in a bit can be very exciting. There is this sensation and spark it ignites in your body.
The first time I saw two figures in my account, it was something else. Sleep became a stranger; in the few minutes I slept, I saw myself in a mansion with fleets of cars. That was also how I made my first mistake in life and business.
So what you do with your first million matters a lot. If you are not careful, it will be the last million you will ever see or touch as your own.
Do all or a combination of the following when you hit your first one million naira:
- Rest first; allow your excitement to die down. Please don’t start thinking about how to spend it immediately. Money decisions you make while excited always end up being mistakes.
- Use the money to gain more knowledge and exposure. The real money is in the value of the knowledge you have. There are courses and mentorship you couldn’t afford before; go for it now.
- Use the money to build relationships and connect with high-value individuals. For instance, you are paying for a premium course with a mentor you value and admire, attending high-value seminars to connect with great minds, etc.
- Plough back that money into the business that created it in the first place. If it’s service, skill, or any form of business, put that money back into it. If the skill or business can generate one million naira, it can generate 10 million naira. Just use the money and improve the business to perform better.
- If you must invest in anything, don’t rush it. Take your time and learn about the business you are investing in. Please don’t rush into it because you have the money now. One million that took you five years to get can be lost in a matter of seconds.
Also, note that you shouldn’t spend your first million on liability; as much as possible, use it to create assets, either tangible or intangible. I’m not saying you shouldn’t enjoy yourself or buy a car, but think it through.
Don’t be in a hurry to appear rich or try to announce your lifestyle once you get your first 1 million naira in Nigeria today.
Please share this post with a friend so they can make the right decision.