Hello, friends. I’m Dr. Charles Apoki, and today, I want to share with you some insights on transforming scarcity into prosperity and the importance of aligning wisdom with your pursuit of success. First, I’d like to remind you of my last webinar for 2024, coming up on the 6th and 7th of December at 7:00 PM Nigerian time. We’ll discuss maximizing your life, ministry, and business on the first day, followed by a one-hour Q&A on the second day. Register by sending a message to +234 802 121 9262.
Now, let’s delve into what it takes to turn scarcity into prosperity. My journey and the strategies that have guided me can be summed up through a fundamental principle: build your business before you build your lifestyle.
1. Build Wisdom Before Building Wealth
As Proverbs 24:3-5 tells us, “By wisdom a house is built, and through understanding it is established; through knowledge, its rooms are filled with rare and precious ornaments.” In Solomon’s time, Israel was an agrarian society, where people were advised to invest in their fields before building homes. In today’s terms, it means establishing a sustainable business before indulging in luxury. So, when you start accumulating wealth, the first priority should be to invest in sources of revenue, not merely assets that will sit and drain your resources.
2. The Pitfall of Tapping Into Grace Without Insight
One of the biggest mistakes people make is trying to “tap into grace” without understanding the principles that uphold it. Rushing into fame, wealth, or influence without insight can lead to setbacks or even ruin. Before you aspire to a specific lifestyle or success level, take time to study how those who have succeeded achieved their prosperity. Understand the principles, precedents, and practices they followed; otherwise, you risk experiencing disgrace instead of grace.
3. Focus on Investments That Generate Income
Young people often make the mistake of buying luxury items like houses, expensive cars, or other status symbols too early. I have seen many musicians, actors, and athletes spend their first big earnings on sprawling mansions, only to struggle later because they didn’t establish sources of recurring income. Prioritize investments that bring in revenue, like sustainable businesses or ventures, before focusing on personal luxuries.
4. Living Simply While Building Strong Foundations
When I began building my business, I had very little. My wife and I invested in our school, living frugally and sacrificing personal luxuries. We bought only what was essential, and even then, it was to support the business. I recall being the school bus driver and walking long distances, all while reinvesting into the school. Over time, this allowed us to grow our enterprise and build something sustainable.
5. Create Multiple Streams of Income
Diversification is crucial. As my school grew, I expanded into other areas like a bookstore, printing press, and canteen, and later, we ventured into real estate. These additional income streams provided security and allowed me to support others, sponsor scholarships, and even invest in agriculture. By building a foundation of multiple revenue sources, you secure yourself against financial instability and are better positioned to help others.
6. Be Cautious with Personal Liabilities
Avoid investing too heavily in assets that don’t yield financial returns. Instead, build up assets that generate income and let them support your lifestyle. Big houses, lavish cars, and luxury goods can wait until your income from investments supports them effortlessly. This approach ensures that your financial base remains stable and that your lifestyle is funded by profits, not the principal of your investments.
7. Invest in Yourself and the People Around You
There is no such thing as a small beginning when it comes to entrepreneurship. I always advise young people to consider small ventures and grow them. I use a simple formula to illustrate this: if 40 people buy an item worth ₦250 from you 20 days a month, within 10 years, you’ll have generated ₦24 million. The Igbo business community demonstrates this principle well; they prioritize business growth before personal luxuries, often living simply while establishing multiple, interconnected stores.
Final Thoughts: Build a Business Before You Build Fame
Prosperity is not about short-term success or a flashy lifestyle. Rather, it’s about consistent growth, strategic investments, and wise decision-making. Establish a business before you seek fame or fantasy, and let your business sustain your success over time.
Let’s use these insights to transform our financial journeys. Remember to register for the December webinar by messaging +234 802 121 9262. God bless you!
Let me know if there are areas you’d like to adjust.
