A few years ago, I suddenly realised I had more time on my hands than I needed. So, I thought of what business to engage in to fill up my time.
The business of selling recharge cards seemed the neatest; plus there was a clear need for it within my vicinity, so I opted for it.
At the time, a N100 recharge card was purchased at N97 and sold for N110. Hence, a profit of N13 was all I could expect from selling one recharge card.
What I didn’t know, though, is that sending a N200 recharge card monthly to this person I respect so much was not sustainable.
This person never asked for it; probably didn’t even need it. But, I was being sentimental.
“How can I be selling recharge cards and not be able to spare a mere N200 airtime every month?” I reasoned.
The truth, however, was that my reasoning was faulty. The N200 I gave out uncoerced was the equivalent of my profit from more than 15 people.
Read that again:
The profit I made after managing to sell to almost 16 people was given out to just one person, not based on need but on mere sentiments.
So, let’s talk about you and how to avoid making the same mistake…
Are you truly making profit in your business?
Or, are you simply turning cash over aimlessly?
What precisely is the reason you are in business?
And, what do you hope to make out of your investments and sacrifices for that business?
Can we talk about this sometime?
Money Therapist at LIMER Personal Finance.
( m.me/limerfinance )