Technext Technext
  • Home
  • Stories
    • How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad
      How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad
      1 day ago 0
      619
    • Social Media Roundup: Emefiele’s Money Out of Thin Air, 14th Headies Awards, Others
      Social Media Roundup: Emefiele’s Money Out of Thin Air, 14th Headies Awards, Others
      1 day ago 0
      42
    • ‘Early-stage Startups Need More than Just Funds’ – Key Points from the UK-Nigeria Tech Summit
      ‘Early-stage Startups Need More than Just Funds’ – Key Points from the UK-Nigeria Tech Summit
      2 days ago 0
      80
    • ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      2 days ago 0
      888
    • Of Drones and COVID-19 Vaccine Delivery with Arone CEO, Emmanuel Ezenwere
      Of Drones and COVID-19 Vaccine Delivery with Arone CEO, Emmanuel Ezenwere
      2 days ago 0
      77
    • Twitter Unveils ‘Super Follows’ Feature so You Can Charge for Exclusive Tweets
      Twitter Unveils ‘Super Follows’ Feature so You Can Charge for Exclusive Tweets
      3 days ago 0
      612
    • Manchester Utd Fans Across Africa Can Now Stream MUTV on StarTimes
      Manchester Utd Fans Across Africa Can Now Stream MUTV on StarTimes
      3 days ago 0
      875
    • Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      3 days ago 0
      100
    • Due to Recent Events, is Remitano P2P the Remedy for Nigerians to Buy Bitcoin in Nigeria?
      Due to Recent Events, is Remitano P2P the Remedy for Nigerians to Buy Bitcoin in Nigeria?
      3 days ago 0
      193
  • Features
    • ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      2 days ago 0
      888
    • ‘I thought it was Spiritual Problem’- Nigerian Men on How Virtual Sports (Baby) Bankrupted Them
      ‘I thought it was Spiritual Problem’- Nigerian Men on How Virtual Sports (Baby) Bankrupted Them
      5 days ago 0
      271
    • Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      6 days ago 0
      127
    • Symbiotic Relationships are Needed to Enhance Femtech Innovations – Abisola Oladapo, MumSpring Founder
      Symbiotic Relationships are Needed to Enhance Femtech Innovations – Abisola Oladapo, MumSpring Founder
      1 week ago 0
      165
    • CBN Didn’t Ban Cryptos to Fight Criminal Activities but to Curtail Capital Flight- Danny Oyekan, CEO of Dan Holdings
      CBN Didn’t Ban Cryptos to Fight Criminal Activities but to Curtail Capital Flight- Danny Oyekan, CEO of Dan Holdings
      2 weeks ago 0
      266
    • Tony Lauriola of Coins App Explains the Reason Young Africans are Embracing Cryptocurrencies
      Tony Lauriola of Coins App Explains the Reason Young Africans are Embracing Cryptocurrencies
      2 weeks ago 0
      338
    • Why Robotic Process Automation (RPA) is Taking Over Your Job
      Why Robotic Process Automation (RPA) is Taking Over Your Job
      2 weeks ago 0
      298
  • Reviews
    • How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad
      How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad
      1 day ago 0
      619
    • Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      Jumia Recorded Over 4.4 million Cancellations, Returns and Failed Orders Despite a Successful 2020
      3 days ago 0
      100
    • Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      Apple Finally Tops Global Smartphone Market and Could Remain There with New iPhone 13
      5 days ago 0
      456
    • Meet the 6 Nigerians Nominated for the £25,000 Africa Prize for Engineering Innovation
      Meet the 6 Nigerians Nominated for the £25,000 Africa Prize for Engineering Innovation
      6 days ago 0
      184
    • Onepipe Gives Businesses Access to Numerous Payment Gateways Without Multiple Integrations
      Onepipe Gives Businesses Access to Numerous Payment Gateways Without Multiple Integrations
      6 days ago 0
      113
    • Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      Aeglehealth Lets You Get Medical Care from a Specialist Minutes after Booking an Appointment
      6 days ago 0
      127
    • Tech Events this Week: UK-Nigeria Tech Summit, Startup Funding Webinar and Others
      Tech Events this Week: UK-Nigeria Tech Summit, Startup Funding Webinar and Others
      7 days ago 0
      147
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    How to Support Yourself Financially When Starting out on Your Own

    Alex IheanachoAlex Iheanacho
    10 months ago
    How to Support Yourself Financially When Starting out on Your Own

    If you want to start your own business or have already started, you will agree with me that you need a better support mechanism than someone who is working a job alone.

    This is because the business needs your money and attention to be able to stand and grow.

     In this article, I have provided you with certain ways that you can utilize for financial support and assistance.

    Get a Job

    I know this sounds funny and contradictory since we are talking about you starting a business. But there is no sorrier sight that one trying to build a business on an empty stomach. You won’t build a thing before you die of kwashiorkor!

    Google Introduces Interesting Features For Nigerian Job Seekers

    So if you don’t have a job or know where the next meal will come from, it might be wise for you to grab a job to earn some income that will help you stay alive and fund your dream.

    It might equally be nice if you get a job in the industry you are trying to play. It will give you a lot of industry insights.

    Start a business on the side

     If you are already working, it doesn’t make any sense for you to quit your job before knowing what business to start and all.

    The only time you should quit your job for a business is when you are making at least 50% of your salary from your business. At such instance, it becomes very wise for you to quit and go concentrate on your business to grow and scale it.

    Why Small Businesses Never Grow big and What to do About it

    So while doing your job, a smart way to support yourself is to save.  If you have a business to build, you really don’t have money for a lot of frivolities.

    Your target should be ongoing lean while saving up as much as you can to support you and what you are building.

    If you have access to low-interest credit, use it

    Some jobs have credit facilities that they give to staff at very low or zero interest, use that if you can to support your business.

    I have a friend who works with the ministry and takes a single-digit interest loan from the cooperative yearly to grow his business.

    person holding 100 U.S. dollar bill

    The loan and interest are both paid back by the business cash flow. This is a smart way to support yourself and your business financially.

    Use your savings wisely

    It is only foolish people that knock saving money. Every rich and wise man that I know or have studied saves or does so without knowing it.

    You don’t save money from January to December only to blow everything on shopping or travelling to your village.

    Dropbox's New Smart Workspace Helps You Sync Tasks and Save Time
    Consumerism comes with a lot of pressure…

    You don’t also save to buy a car or other luxuries of this world when you have a business to care for.

    Postponed certain money suckers for now and stay lean while you build.  Though it might take you a little longer to have a wife, buy a car, move into a nice and bigger house and all, the wait will be worth it as “better thing no dey finish”

    A business is like a baby, you eat after he has eaten. That is if you want peace and profit in the first place.

    Let your partner hold fort for you

    If you have a good spouse who has your interest and progress at heart, you can beg him or her to hold down some family expenses while you channel your resources to your business.

    But this is on the assumption that you have sense and responsible enough not to pay any good with evil.

    Having a supportive partner who can step in big for you in times of building is one of the precious assets that many ignore, don’t use or don’t get the privilege of having.

    Use this if you can.

    Move-in with those that love you

    This could be a winning strategy too. But it needs to be done right for it to work and it doesn’t need to be for a long time.

    So if your parents, uncle, friend or even a stranger love you enough not to mind or hate you for it, you can move in with them and use the money for your rent to fund your business till it picks up.

    Support Yourself Financially

    I used this strategy to start my Research Business. After I left university, I moved in with my mentor who loved me. I lived with him till my savings and profits went up and I could stand on my own.

    You too can try this strategy out.

    Do overtime

    If you have the option of overtime in your place of work, seize it and put all the money that comes from it into your business.

    That means you don’t see this money as some extra cash to spend but as an extra opportunity to fund your venture and get it fired up.

    Take a part-time job

    Take up an extra job and channel all the income from that job to your business. This too is a very smart strategy.

    It doesn’t have to be anything too fancy or big that will now turn major and become a distraction.

    Digital Broadcasting Can Actually Provide Jobs for Millions of Nigerians. I Will Tell You How

    I have a friend who runs a tech company. He takes up development jobs and builds websites to rake in money into his business from his skills.

    Another friend of mine teaches weekend classes in a polytechnic to bring in some money into his business.

    You can explore this possibility to see how it works out for you.

    Have a safety net

    The smart safety net I always recommend is for you to put your money into a profitable investment that is dedicated to feed you and keep you afloat while you build your business.

    This is one of the first things you need to settle early on so that you can have the peace of mind and personal financial stability to withstand business droughts.

    Knowing that there is something else that feeds you will help you to give your business the necessary time to pick up.

    In closing…

    The fastest way to know what will work is to try it. so you can pick a few of these points and see how they can fit right into your situation at the moment and help you while you build that which your heart desires.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    Alex Iheanacho

    Alex Iheanacho

    Alex Iheanacho is a student of money, life, tech, education and personal development. He loves to apply money sense to find unconventional ideas and money in common things around him.

    Social Media Roundup: #NoLagosLockdown, 28 Abortions and Other Trending Stories This Week
    Next article
    Social Media Roundup: #NoLagosLockdown, 28 Abortions and Other Trending Stories This Week
    Previous article
    ‘People Need Products Especially During Crisis’- Austin Okere, Yimika Adeboye Share Thoughts on Leadership During Crisis

    Related Posts

    • Reviews, Stories 1 day ago

      How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad

      How GIG Logistics and Visa Help Merchants Deliver Goods at Cheaper Prices Locally and Abroad
      Stories 1 day ago

      Social Media Roundup: Emefiele's Money Out of Thin Air, 14th Headies Awards, Others

      Social Media Roundup: Emefiele’s Money Out of Thin Air, 14th Headies Awards, Others
      Stories 2 days ago

      'Early-stage Startups Need More than Just Funds' - Key Points from the UK-Nigeria Tech Summit

      ‘Early-stage Startups Need More than Just Funds’ – Key Points from the UK-Nigeria Tech Summit
    • Features, Stories 2 days ago

      'Work From Home Won't End in 12 Months, Covid-19 Vaccines Notwithstanding' - Morgan Mierke, Head of W/Africa Logitech

      ‘Work From Home Won’t End in 12 Months, Covid-19 Vaccines Notwithstanding’ – Morgan Mierke, Head of W/Africa Logitech
      Stories 2 days ago

      Of Drones and COVID-19 Vaccine Delivery with Arone CEO, Emmanuel Ezenwere

      Of Drones and COVID-19 Vaccine Delivery with Arone CEO, Emmanuel Ezenwere
      Stories 3 days ago

      Twitter Unveils 'Super Follows' Feature so You Can Charge for Exclusive Tweets

      Twitter Unveils ‘Super Follows’ Feature so You Can Charge for Exclusive Tweets

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • Meet Election Monitor, the Social Startup Promoting Transparent Elections Electronically
      Meet Election Monitor, the Social Startup Promoting Transparent Elections Electronically
      September 20, 2018 0
    • New Gmail Feature Allows You Click Phone Numbers and Email Address
      New Gmail Feature Allows You Click Phone Numbers and Email Address
      September 20, 2017 0
    • Here are the Top 10 Social Media Trends of 2020 in Nigeria
      Here are the Top 10 Social Media Trends of 2020 in Nigeria
      2 months ago 0
    • How Nigerians Celebrated Fathers Day on Social Media- the Good, the Bad and the Absolutely Hilarious
      How Nigerians Celebrated Fathers Day on Social Media- the Good, the Bad and the Absolutely Hilarious
      8 months ago 0
    • World Health Organisation Launches Africa Innovation Challenge for Health Startups
      World Health Organisation Launches Africa Innovation Challenge for Health Startups
      November 19, 2018 0

    Follow Us

    Latest Tweets

    • technextdotng Morgan touted that employees are getting to the stage where the absence of teamwork, collaboration, meeting around… https://t.co/EPKZ5T1Id8
      about 4 hours ago
    • technextdotng "Our smallest delivery drone has the capacity to deliver all the vaccines needed in a typical vaccination center fo… https://t.co/erKUUb77Z9
      about 7 hours ago
    • technextdotng GIG Logistics (GIGL) has partnered with Visa to create a Merchant App that solves this problem. The app is poised… https://t.co/vAm3FRduWe
      about 10 hours ago
    • technextdotng CBN Governor, Godwin Emefiele appeared before the Nigerian senate to explain the apex bank’s reasons for clamping d… https://t.co/xMmJXnuwAA
      about 13 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    "if the CBN’s major concern is capital control t "if the CBN’s major concern is capital control they can be limits to how much users can purchase using exchanges or OTC Desks."
-
@trillionaire, Founder, @coins.app and @dan.holdings on regulation the CBN Governor can place on Cryptocurrency.
#bitcoin #Crypto #Bitcoin #cryptocurrencies #cryptoworld #cryptotrading #cryptomarket #cryptonews #cryptoinvestor #bitcoininvestment #bitcoinexchange #ethereum #Nigeria
    Known for viral trends and iconic memes, TikTok ha Known for viral trends and iconic memes, TikTok has been loved by many as a place where spreading joy and information goes beyond age. Whether it’s quick educational videos you’re looking for or fun tips on how to get involved in the latest viral challenge, TikTok is an all-inclusive platform where adults can come as well to not only express themselves creatively but to be their authentic selves.

Still think that TikTok is for teenagers only? Keep reading!

This list is a mix of 30 TikTok celebs and creators, all over the age of 30, who constantly remind us that TikTok is a place where everyone belongs. Check out their profiles to find educational and entertaining videos that you won’t be able to get enough of. 

Check them all at Technext.ng
.
.
.
@tokemakinwa, @_tosinsilverdam, @toyin_abraham, @ufuomamcdermott, @veezeebaybeh, @wofaifada, @yeancar_posh, @yemialade, @deejayneptune, @kunleremiofficial
.
#fashionista #influencerlife #ootd #tiktok #likes #k #marketing #digitalinfluencer #viral #vibes #socialmedia #fashionstyle #motivation #instagramers #explorepage #moda #followers #f #inspiration #instafashion #beautiful #followme #fashioninfluencer #business #cute #instagram #instalike #photo #styleblogger
    Seems Spotify is here to take the crown. Which of Seems Spotify is here to take the crown.

Which of the platforms do you currently use?
Will you be making a change?
#Spotify #Music #YouTube
    Popular music streaming platform, Spotify has fina Popular music streaming platform, Spotify has finally expanded to Nigeria and several other African countries.

The company announced the expansion on Monday during its Stream On event for creators and partners. As the platform rolls out, music lovers in new markets will get to access content on mobile apps and in the browser. Apps for TV, consoles, speakers, wearables, and cars will be launched in the “coming months”.

Will you use the app now that is legally available?
.
.
.
.
.
.
#dj #radioshow #podcast #electronic #dance #music #progressive #pro #Spotify #Nigeria #Africa #music #love #hiphop #art #rap #musician #singer #rock #life #dance #photography  #song #guitar #happy #style #producer #fashion #newmusic
    It takes courage to know yourself well enough to c It takes courage to know yourself well enough to choose where your energy comes from and goes to. 
#TechNext #MondayMotivation #mondaythoughts
    Love is in the air! On this episode of #SteetTec Love is in the air!

On this episode of #SteetTech we ask people what their experience was dating people online.

Full video in bio

#ValentinesDay #Valentine #Dating #Love #ValentinesDay #Love #Romance #TechTips #TechSupport #valentine #valentinegift #valentines #valentineday
    Load More... Follow on Instagram

    Random News

    • Only 10 African Countries are Actively Trading Cryptocurrency, Why are 44 Left Out?
      Only 10 African Countries are Actively Trading Cryptocurrency, Why are 44 Left Out?
      2 months ago 0

      Cryptocurrency has boomed in Africa, no doubt. A big testament to this is that Nigeria – Africa’s most populous country, ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy