3 Reasons Why Many Are Still Struggling Financially and Have Not Attained Financial Freedom Yet

My friend and colleague Joe Okoro shared this secret with me recently and i concur with him, hence i want to share it with my friends here, because it got me thinking and i believe it will inspire and motivate you too.

Today, I want to give you some short tips on the reasons why many people are still struggling financially and not yet millionaires.

Here are the reasons I came up with.

1. Too Afraid To Take Calculated Risks

Not giving opportunity a chance. Many people are risk averse, and not willing to take

up opportunities because of fear of losing money.

It’s always a better choice to seek out opportunities in whatever form and take it up.

Instead of allowing the fear of losing money hold you down from moving ahead financially, I would advise you to have this mentality…

“Take Risks, if you win and become successful in the process, you will be happy; if you lose, you will have learnt one way not to lose again”

Learn from your mistakes in opportunities, and you will win the next time.

If you don’t take risks, you won’t be able to learn these success secrets hidden in failure.

2. Not Knowing How To Sell Anything You see making money is very easy if you know how to sell.

If you want to become a millionaire in the nearest future, master the art of selling.

And when it comes to the internet, selling becomes easier. Even a shy person who fears selling can do so seamlessly online. What does it take to become a millionaire selling

products?

If you can sell a product and make a profit of N10,000 per unit sold, all you need to make

a million Naira per month is selling 100 units.

If you can sell 50 units per month, that is N500,000 per month.

If you continue at this pace and do it successfully for 6 – 12 months, you’re already a millionaire as you would have netted a total profit of 3 – 6 million in that period of time.

And to sell 50 units of a product per month requires that you build an email list of just 2,000 people and convert only 2.5% of it to buyers. This is very easy to do, if you know what you’re doing.

Many people can convert up to 7% from the same list in a 3 – 4 month period.

3. Depending On One Source of Income

If you have a salary job, and that is the only source of income for you, you’re sitting on a

ticking time bomb. If your boss offers you a sack letter, you’re income stops immediately.

As a wise person, it’s always good to have a plan B, and Plan C, if any of your income sources dries up.

If you rely on only one income source, your chances of becoming a millionaire is slim to none.

It’s time to wisen up, and create a secondary revenue channel. Brainstorm on ideas for extra revenue stream.

Here are few options you can consider…

Write a book and sell

Try consulting services for what you know how to do

Learn extra skills while you’re still working full time

Open a side business, online or offline

Create services you can offer to people

You see, as long as you’re guilty of any/all

of these 3 reasons, becoming a millionaire will

be a problem for you.

In our current economy, more than ever before,

it’s now an absolute necessity to have a secondary

income stream.

That’s my tips for you today. I hope you find it helpful.

Speak soon,

Tony Nwokolo

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