A trip to Wealth

Creation

MY Assignment

Principles and

Purpose of Money

Principles for turning

ideas into wealth

Viable business

ideas in Nigeria

Luke 16:1-8

Principles and Purpose of Money

Purpose and Principles of Money

1 Provides for the basic needs

2 Confirms direction

3 Meets the needs of others

4 Financial provision demonstrates

God’s power

1 God is the source

2 Givers Get

3 If you don’t make it work, it walks!

4 Money Flows

Purpose Principles

Luke 16:10-11 One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much. If then you have not been faithful in the unrighteous wealth, who will entrust you the true riches?

Personal Finance Management

Goals and Decision Making “For which of you, intending to build a tower, does not first sit down and count the cost, whether he

has enough to finish it. Lest, after he has laid the foundation, and is not able to finish, all who see it

begin to mock him” – LUKE 14: 28-29

Savings and Budgeting “Go to the ant, you sluggard! Consider her ways and be wise, Which, having no captain, Overseer

or ruler, provides her supplies in the summer, and gathers her food in the harvest” – PROVERBS 6:6-8

Budgeting

A budget is the

foundation of any

financial plan. Regardless

of what you make, you

need to know where your

money is going in order to

have a handle on your

finances.

What is the key to

successful budgeting?

ATTITUDE

Savings

To save successfully,

you need to?

10/50/20/20 Rule

PRIORITIES!!!

GIVE!!!

FOCUS!!!

Sample Personal Budget

January February March April May June July August September October November December

Revenue

Income 0.00 0.00 0.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00

Other Income

Total 0.00 0.00 0.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00

Exchange rate 0.00 0.00 0.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00 150.00

Local Total 0.00 0.00 0.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00 2000000.00

Expenses

Car 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Driver 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Cook 0.00 0.00 0.00 0.00 0.00 30000.00 30000.00 30000.00 30000.00 30000.00 30000.00 30000.00

Food/Groceries 0.00 0.00 0.00 72000.00 50000.00 50000.00 50000.00 50000.00 50000.00 50000.00 50000.00 50000.00

Entertainment 0.00 0.00 0.00 50000.00 50000.00 160000.00 160000.00 160000.00 160000.00 160000.00 160000.00 160000.00

Tithe 0.00 0.00 0.00 200000.00 200000.00 200000.00 200000.00 200000.00 200000.00 200000.00 200000.00 200000.00

Offering 0.00 0.00 0.00 50000.00 40000.00 50000.00 50000.00 50000.00 50000.00 50000.00 50000.00 50000.00

Gas 0.00 0.00 0.00 20000.00 20000.00 20000.00 20000.00 20000.00 20000.00 20000.00 20000.00 20000.00

Electricity

Standing Order 0.00 0.00 0.00 0.00 80000.00 80000.00 80000.00 80000.00 80000.00 80000.00 80000.00 80000.00

Toks 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Fumi

Mummy 150000.00 75000.00

Misc 0.00 0.00 0.00 60000.00 80000.00 60000.00 60000.00 60000.00 60000.00 60000.00 60000.00 60000.00

Savings 0.00 0.00 0.00 1398000.00 1480000.00 1350000.00 1350000.00 1350000.00 1275000.00 1350000.00 1350000.00 1350000.00

Total Expense 0.00 0.00 0.00 602000.00 520000.00 650000.00 650000.00 650000.00 725000.00 650000.00 650000.00 650000.00

FCF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bank 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total savings - - 2,597,529.00 4,077,529.00 5,427,529.00 6,777,529.00 8,127,529.00 9,402,529.00 10,752,529.00 12,102,529.00 13,452,529.00

“But if anyone does not provide for his own, and especially for those of his household, he has denied

the faith and is worse than an unbeliever” – 1Timothy 5:8

Luke 16:1-8

Principles for turning ideas into

Wealth

Not all ideas are

BRIGHT IDEAS

For some ideas,

NO ONE cares or

is INTERESTED

Run your own

RACE

Quit

Procrastinating

STARTING WITH THE PROBLEM

• Who is my customer?

• What are their needs/wants?

• What problem are they facing?

• Does my idea meet their need?

• Who are my

competitors/substitutes?

• Is my idea better than what

currently exists?

"Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The

greatest success stories were created by people who recognized a problem a turned it into an

opportunity." Joseph Sugarman

Assessing the Opportunity

Assessing an Opportunity

Business Plan Key Components

There are 8 critical

components of a

business plan:

1. Executive Summary

2. Mission & Vision

3. Business Model

4. Revenue Model

5. Market Strategies

6. Development Plan

7. Competitive Analysis

8. Financial Component

Luke 16:1-8

Viable business ideas in Nigeria

Top 5 Business Sectors??

1 Technology - Food e-commerce,Gamification, Agri-tech, Education

2 Agriculture- Production, Processing, Packaging

3 Financial Services – Credit Services

4 Healthcare Services – Home Healthcare

5 Mobile Apps Development

6 Consumer Goods

Philippians 4:13 “I can do ALL things through Christ who strengthens me”

Final thoughts & Conclusion

Final Thoughts "Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which

is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out

your own inner voice. And most important, have the courage to follow your heart and intuition. They

somehow already know what you truly want to become. Everything else is secondary.“- Steve Jobs

It is a journey

No Comparison required

Ideas are cheap, execution is everything

Pray! Pray!! Pray!!!

THANK YOU For sitting through this presentation.

Thank You