My View on Wealth Creation that Made FORBES AFRICA Offer Me a Scholarship to Detroit, USA.


Some years ago, I was at a small town called Amaogwu in Abia State for an on-site survey.

I couldn’t imagine telling my friends that I stayed in Igbo land without eating their famous abacha – they will definitely unfriend me. So, I went on a hunt for it.

As I arrived a nicely painted food joint, I could hear voices excitedly chanting “Aguu! Aguu!” from a distance.

 When I enquired, I learnt it was somewhat a betting game. Here is how it works:

Six individuals come together and stake equal amounts. They each pick a number from one to six.

When the spectator’s chant ‘Aguu’, a dice would be casted three times.

The three numbers that show as a result of casting the dice three times become first, second and third respectively.

So, the first person goes home with 50%, the second takes 30% and the third 15%. Which sums up to 95%. The organiser takes the remaining 5% for hosting the bet.

Though I personally dislike betting, I was absolutely intrigued by the business model.

My inquisitive mind pushed me to have a conversation with the man in charge. I’ll paraphrase few sentences he made in pidgin English:

“…. E neva tay wey I start this Aguu thing oh. Na hunger give me sense [Chuckles]. For Igbo, Aguu mean ‘longer-throat’. I bin notice say everybody wan make money sharp sharp. So anytime I see people dey find money, my brain dey think this game. Na Aguu I use build that house [Points to a New Duplex]. To me ehn, money na longer throat. Bros, since I understand that simple sense, I never broke again.” 

At first, I couldn’t perceive any wisdom – after all, he was tipsy. Then I began pondering.

To Mark Zuckerberg, wealth is NETWORKING – that’s why he owns 3/5 top social media networks on this planet.

To Aliko Dangote, wealth is MANUFACTURING – that’s why 79% of Nigerians use his product at least once in 24 hours.

To Igwe Obinna (the bet organiser), wealth is ‘LONGER THROAT’ (Greed) – that’s why he owns the biggest duplex in his vicinity.

Then I asked myself: “Lovemore Leonard, what does wealth really mean to you?”

I opened my notepad and penned three brief points.

1. Wealth is ATTENTION:

This is the new oil money. Just look around you, TV stations, big brands, celebrities, newspaper, movies, radio stations, mobile apps, etc. They all thrive for one thing – ATTENTION – because the more they can capture your attention, the wealthier they become. 

The youngest self-made Billionaire, Kylie Kenner did NOT become wealthy through technology, real estate or stocks. She simply consumed a lot of attention on media before launching her cosmetic products.

Anything you leverage to drag people’s attention can easily be MONETISED. 

If you can build an Instagram page of over 15k followers, host an offline event of over 250 people, grow a 10k Facebook community, start a movement or run a 20k twitter account, you should generate between N50k – N150k monthly if you play the right cards.

I own a celebrity fan page of 55k followers on Instagram, so I can tell you first hand that the monthly revenue is cool.

Popular ways to pull attention are: 

[a] COMEDY: Africa can be pretty tough, people are longing for comic stress relief. Lasisi Elenu rakes N250K per social media sponsored post. Broda Shaggi last endorsement was about N7million.

[b] NEWS & GOSSIP: Linda Ikeji, Instablog or Nairaland’s annual revenue made my brain dance Zanku. It’s in 9 figures!

[c] STRONG PERSONAL BRAND or TRIBE: The likes of Reno Omokri, John Obidi, OPEN, Rant HQ, etc. Find a particular niche, gather blocks and build your brand.

[d] SLAYING: Oh yes, I pay several slay queens and kings a fortune to promote my products. It’s shallow minded to think slaying means you’re not been intentional about life. It simply means been extra in fashion, body building, style etc

[e] MOVEMENT/CONTROVERSY: Only if you know the attention and affluence SegaLink got from the #EndSARS campaign. As much as I dislike Bobrisky’s controversy, he’s an eight-digit millionaire. How? He drags as much attention as he can get! 

The list goes on and on. Listen, activating positive attention is the key to escaping lack.

2. Wealth is EMOTION: 

Few months back, I was at an NGO fundraiser. We happily donated knowing very well we were getting no profits. Why? They APPEALED to our emotions! 

Same way movements like #FeedTheNation #FightPoverty#SayNoToAbuse #StopRapist strike chords on people’s emotion. 

Of course, it’s legal to pay yourself from your Foundation/NGO because it’s a JOB for you.

Most donors are people of influence who have money to spare. Therefore, it gives you access to these men of influence – that’s where wealth comes for you.

The first time I got access to a Governor was through my friend who runs an NGO. 

I’m not suggesting you start a movement, NGO or foundation just to generate wealth. That’s greed. 

However, if you’ve ALWAYS had the ambitions to do so, now is a good time to start. Don’t procrastinate! 

3. Wealth is SOLUTION:

Most entrepreneurs dwell here.

The reason most don’t create wealth is because they do not solve a SPECIFIC problem! 

Why be a general business coach? Why be a general fashion designer? Why be a general writer? Why? Your wealth lies in a specific target audience, not the general market.

If you provide the same solution using same strategy to the same market, the peak of your income is AVERAGE.
 
Always remember, an average man is the richest of the poorest and the poorest of the richest.

Never, and I repeat, never settle for less. Define your Unique Selling Point (USP) today. It’s the key to unlocking wealth by solution!

=========================

So, that was the article that caught Forbes’ eye.

Now someone is expecting me to give 33 principles to bag Forbes scholarships. [Chuckles] OYO. Don’t be a lazy Nigerian youth, just keep pushing your contents (text, videos, audios, quotes etc) and in due time, the world would notice you.

To Lovemore Leonard, Wealth is ATTENTION, Wealth is EMOTION and Wealth is SOLUTION. What does wealth mean to you?

Leave a Reply

Your email address will not be published. Required fields are marked *