Money is anything you use in exchange for what you need.
It could be your idea, product, goods, talent, time, etc.
Money is not just the paper you carry about, but the value attached to the paper. At a time we were using trade by barter, cowry, or gold.
In some countries, card, instead of the paper currency we carry about in Nigeria, is used as money, In future our children and grandchildren may have to go to the museum to know what paper money looks like.
Money is a reward for solving a problem.
You pay rent to the person solving your shelter problem
You pay school fees to the person solving your child’s need for education
You pay money to the person that sells food because she solves your hunger problem
People don’t pay you merely because you can identify a problem.
People won’t pay you simply because you are the best analyst of problems.
People won’t pay you because you are beautiful or handsome.
People won’t pay you because you are a gossip.
People only pay you for providing solutions to problems.
And so to be rich, you must be solution-oriented: you have to be a problem-solver.
To have multiple streams of income, you have to be able to provide solutions to multiple problems.
We all know there are numerous problems in Nigeria: electricity supply, security challenges, corruption, unemployment, the list is endless; it takes little or nothing to identify a problem.
However, what is of utmost importance is the provision of solutions to these problems.
In business, you make money (profit) by solving people’s problems. This is the relationship between business and money.