Mackeus Nguni
(Author of this writeup)
A lot of people have been asking me to show them the secret to my success. Sometimes I say there is no big secret different from my teachings. If you follow my teachings and do exactly what I tell you to do, I don't think anything can stop you from achieving the same results that I achieve. If you don't achieve exactly the same results, at least you will achieve something similar. Brian Tracy says "If you do what other successful people do, nothing can stop you from eventually getting the same results they do. And if you don’t do what they do, nothing can help you."
It has not been an easy journey but it has been giving positive results. I have always had a burning desire to attract money into my life since the age that I cannot remember. It was difficult to materialize this idea at the beginning. I thought about several things that I could do to start earning money without using money because I didn't have money. It was absolutely difficult. However, after serious thought, something came into my mind. Guess what it was!...It was comedy.
I started comedy with the hope of raising money to start my own business. This does not mean that I didn't have passion for comedy. I really enjoyed and I still enjoy acting. But I had a burning desire to start my own business and become super rich. The desire was there but there was no money and financial intelligence. Unfortunately, comedy didn't give me the money that I thought I needed to be financially free.
So, How Did I Make My First Million?
You need to start from somewhere. I started by reading a wide range of books about personal finance and money management. I read books like Rich Dad Poor Dad, Think and Grow Rich, The Richest Man in Babylon, The Millionaire Mindset, How Money Works, The Science of Getting Rich, 21 Secrets of Self-Made Millionaires, Secrets of the Millionaire Mind, The Law of Financial Success, The Smart Money Woman etc. Now I have written my own book to help other aspiring millionaires get what they want. The title is Money Mind. It is a guide to financial freedom. Don't hesitate to check it out and order for a copy right now.
How did I make my first million francs after spending a lot of time reading? My situation was like that of most people. I learned about personal finance and money management but I did not have money to start making money. I read in many books that one does not need money to start making money but then, I did not still know how that was possible. Although I did not know how it was possible, I was prepared to use any opportunity that would come my way to get rich. When opportunity meets someone who is prepared, that is luck, isn't it? In a sense, one needs to always be prepared.
One day I read a communique that they had released a list of students who were going to receive the Presidential Grant. My name was there and I thought that was the right opportunity for me to start making the money that I so much desired. I got the grant. It was 50,000frs.
Before collecting the money I had thought about several businesses which I could put the money into. Among the businesses, transport business was the one that I was most passionate about. But how on earth was I going to start transport business with 50,000frs? A motorcycle was at least 450,000frs. A vehicle was at least 1.5 million. How was I going to make it happen with 50k? This was the point where I realized the importance of financial literacy. I would surely not have been a millionaire today if by the time I stumbled on this opportunity I was not financially intelligent.
How Did I Use 50k Presidential Grant to Become a Millionaire?
With my knowledge of personal finance and money management (or financial education at large), I knew that 50k was a great sum for me to venture into any business that I desired. But it was not just any business that I wanted. I wanted transport business. My plan was to set up a company in the transport sector. I liked it; I yearned for it and I wanted to see it materialize. Again, how was I going to do it with "only" 50k Presidential Grant?
Here is the secret. I summarize it in a single word "leverage". Leverage is what has made me rise from no franc to 50k and to a millionaire. I use other people's skills, money and time to make my own money. How do I do that?
When I received my 50k Presidential Grant and I agreed with myself that I was going to invest in transport business, I immediately joined a rotating savings and credit association (call it njangi) which was 50,000frs per month. But where on earth was I going to be getting 50k every month when I was a full-time student? That was not a thing for me to worry about because I was financially intelligent.
There were 10 people in the njangi and I applied to benefit first. Thus, everyone played and I benefited 500,000frs. This was smart, wasn't it? I got this money for free: no interest rate and no taxes. It was absolutely free. That is how financial intelligence can help you.
As soon as I got the 500k, I bought my first investment property which was a commercial bike. I bought it for 450,000frs and gave to a client for 730,000frs on mortgage (balance-and-take). He was going to pay me 80,000frs every month. Do you now see how I played that njangi back without stressing financially? Yes, I played it and had 30k excess cash which I was saving every month.
As I was saving the 30k, I was also doing other minor businesses like selling books and A4 papers on campus. These earned me some commissions which I added to the 30k every month. As if that was not enough, I bought and sold gravel on weekends to raise some money. All these petit businesses were motivated by the strong desire that I had to expand my transport business. Within the period of 5 months, I bought my second investment property which was a second commercial bike. I bought it for 450,000frs and gave to a client for 750,000frs still on mortgage.
From then, I started using the power of compounding. The two bikes were paying me 160k every month. I used 50k to play my njangi and I saved 110k which I later used to buy another asset (bike).
It was in this way that I made a million francs while going to school. In my next writeup I will tell you how after that first million it has been very easy for me to make other millions without having to leave school.
Get started too by reading financial books. Start with Money Mind. Contact the following numbers for your copy: (+237) 680146580 / (+237) 678639128.
You can also join my company which is Mack Trans. There, you can either invest your money or employ yourself. Check it out.
Contact us through the email macktrans06@gmail.com
You can also contact us through the following numbers: (+237) 680146580 / (+237) 678639128
I wish you the best in your quest for financial freedom.
