There is nothing wrong with being wealthy, and there is a lot of pain associated with being poor, despite what you may think is available to everyone not just a selected few. To create legitimate wealth you must quit spending your future wealth on goods and services that you want today, yet deprive you of long-term wealth. Trading is the fastest way to create income and new income is required in order to build true wealth. Money tends to follow those that get the most attention. Your ideas and your products have no value if no one gives you or their attention. This study will address the following: understanding wealth creation, different means of creating wealth, and wealth management.
There is a saying in the corporate world: “Do not make yourself irreplaceable. Let us think of “being promoted” as earning more and working less. Until you can remove yourself from being directly involved in doing the work that generates the income, there is always going to be a limit to how much you can earn, and it can only increase very slowly.
Some kinds of passive income you may be familiar with include: owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less and have a decent retirement, you are going to start creating income streams that do not require your direct involvement. Whether you are just starting your business, or you have been running it for a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.
With a start-up capital of Twenty Thousand Naira (N20,000), you can start a small-scale business that can earn you between N500 to N1,000 as daily income; then you can grow the business from there by plowing back part of the earned income. Though the list is exhaustive, the following under-listed businesses are a few of the businesses that any aspiring entrepreneur can start from the comfort of his/her home, here in Nigeria.
- Soap Production
- Art Work
- Bead Making
- Domain Name Registration
- Website Designing
- Production of Petroleum Jelly
- Production of Air Freshener
- Proof Reading & Editing
- Tailoring/Fashion Designing
Because of space and time, we shall discuss two out of the list above.
Setting up a Small Scale Broilers Poultry
More often than not, one is confronted with the array of news on the alarming rate of unemployment in the country. A ready excuse for not initiating self-employment is the initial capital outlay. Does one need such a huge amount before one can start a business? The answer is no. This is how you can raise broiler birds with minimal start-up capital. Our target here is to raise 50 birds from day old to table size (2kg) using not more than N40,000 (Forty Thousand Naira), this includes the cost of the cage.
To design a simple cage, wire nets, roofing pan (used ones), planks, etc. are necessary. You may decide to nail them together or employ the service of a carpenter. The cage should have legs of 1.4-1.6ft. The cage dimension should be 7.5 *7.5*3.5ft. This should be partitioned internally to 4 equal chambers of dimension 3.75*3.75*3.5ft. The internal partitions should be 1/3 wood and 2/3 wire net i.e. 1.2ft wood and 2.3ft wire net (so also the external walls). Roofing sheets should be used to roof the cage. Thereafter, the cage should be sprayed with wood varnish and left in the open for at least a week. If electricity would be used for brooding (for heating up the cage during the early weeks of the chicks), the cage should be wired using a 60-watt bulb in each chamber.
4 drinking and 4 feeding troughs should be purchased (medium–sized bowls may be used instead). The cage, feeding, and drinking materials should be disinfected and sun-dried for not less than 24hrs before the arrival of the chicks. Wood shavings should be spread on the cage floor to the height of 0.3-0.5ft, thereafter used newspapers should be spread on the floor of the two innermost chambers. It is advisable to arrive early at the chick center so as to get very healthy stocks.
Arrival of Birds
Get at least ½ bag of broiler starter, drinkable water, source of heat, vitamin premix, etc. available. On arrival, transfer the birds from the carton to the two innermost cages, serve water with vitamins, and a few minutes later serve feed using newspaper or tray. Put on heat using sacks, tarpaulin, or cloth to cover the whole cage. The heat is adequate if they are evenly spread around the cage (with some of the feeders and drinkers).
Change feed and water (introduce feeding trough as from the 4th day). Inspect the birds watching out for dull ones. Separate sick birds from healthy ones. Burn/bury dead birds.
Vaccination and Medication
8th day – FirstGumboro
15th day – 2ndGumboro
22nd day – Lasota
All these vaccines are to be applied in their water. The night before vaccination, the birds may be starved of water or water withdrawn at least 4hrs before vaccination. Vaccinate early in the morning using untreated water (well, borehole, etc). Store the vaccine in a cold environment not necessarily iced, do not exceed the stated dosage, and bury the vial away from the cage area. Great care must be taken in administering vaccines. Medications such as anti-cocci, anti-worm, etc. may be necessary at one time or the other during the rearing. You may consult a veterinary doctor in your area.
In terms of feed conversion, an average bird is expected to take in 5kg of feed in order to attain a 2kg live weight, so it is advisable to budget for 20 bags of feed (though this is not to be bought at once). Broiler starter may be used throughout but for various considerations, the starter should be discontinued after the fourth week, and the broiler finisher introduced to the birds. The birds should be weighed randomly after every 2 weeks in order to monitor their weight. They should be spread into the cages as they increase in size. At the end of the 4th week, each cage should house birds in order to avoid overcrowding. The wood shavings can be changed when it is deemed necessary. If preventive measures are greatly adhered to, 48 birds should reach market size.
At the end of the 8th week, the birds should be ready for the market, and then their average weight should not be less than 2kg. After selling the birds, another rearing may commence after properly preparing the cage. It should be noted that various research (Textbook, Google, etc) can be consulted in order to broaden one’s knowledge on broiler rearing for small-scale enterprises.
On many occasions, you decide how much the birds will be sold depending on how healthy the birds are and their weight, the price is also determined by the season of the year, for instance, if they are ready during Christmas or Easter or any of such festivals, the price is usually higher than the periods where there is no festivity. The reason is because of the rise in demand. If a chicken is sold for N2500-N3000, and you have 48 birds, the total is within N120,000-N144,000. If you take away your expenses, the leftover is substantial enough to take care of other needs.