Discover why aiming for 10x your money could actually be easier than just doubling it.
Today, let’s explore an interesting idea that might sound upside down at first: Why aiming for a 10x growth could actually be easier than going for a simple 2x. You read that right. The argument is that once you get past the initial struggle to double your resources, the next steps to 10x become surprisingly more doable. Let’s break it down and sprinkle in some local flavour, because, as we know, everything hits differently in Nigeria.
The Pain of Starting: Na Real Wahala!
Let’s not lie, the hardest part of building wealth is right at the beginning. Imagine you’re trying to start a small business or save up for that first plot of land in Abuja. At first, you’re grinding hard to just save ₦50,000 every month, yet it feels like it’s taking forever to make even a little progress. Why? Because the odds are stacked against you: limited capital, constant “up NEPA” interruptions, unstable economy, and, of course, unexpected ’emergencies’ that drain your pockets faster than you can save. In Nigeria, everything from buying fuel for your generator to paying exorbitant rents can make building wealth feel like you’re climbing Olumo Rock without proper hiking gear.
It’s during this early stage that the struggle is real. Your small savings are constantly being chipped away by life’s little curveballs—whether it’s sending “urgent 2k” to your friend or having to fix that troublesome car of yours for the fourth time this year. Essentially, doubling your resources for the first time is like a test of patience and survival. You’re basically just trying to stay afloat.
The Compounding Magic of the First 2x
Now, let’s say you finally managed to 2x your starting resources—whether it’s capital in your piggybank or the revenue from your business. Congratulations! At this point, something magical happens: you begin to feel the effect of compounding. In money terms, compounding is when your initial capital starts generating returns, and those returns start generating their own returns. It’s like when your Akara stall by the roadside starts bringing in customers and also other vendors who want to rent space from you.
Take the case of Aliko Dangote, the man behind Dangote Group (like say una no know already), who initially traded in basic commodities like cement and sugar. He wasn’t an instant billionaire. He gradually doubled his resources through careful investments and trading until he had enough to set up a cement factory. But once he crossed that first doubling phase and had a strong foundation, the leap to becoming the richest man in Africa happened at a much faster pace. That’s the power of 2x turning into 10x.
Why 10x Might Just Be Easier (No, For Real)
Alright, let’s talk about why aiming for 10x growth might actually be easier than trying to 2x what you’ve got. It’s about mindset and opportunity. When you go for 2x, you’re probably just tweaking a few things here and there—working more hours, cutting costs, or trying to slightly increase your profit margins. It’s the safe route.
But aiming for 10x growth forces you to throw the ‘play it safe’ mentality out the window. You have to think big, almost outrageously big. You start looking for those high-impact moves that can transform everything. In other words, it’s not about working twice as hard; it’s about taking actions that could create game-changing results. Think about Nigerian fintech companies like Flutterwave or Paystack. They didn’t just aim to be slightly better than traditional banks; they aimed to revolutionise payment systems entirely. That kind of mindset—seeing not just the next step, but the next giant leap—is what makes 10x easier.
Strategies that Make the Leap to 10x Possible
– Leverage Existing Resources: Once you’re at that 2x stage, you already have a foundation to build upon. Whether it’s relationships, capital, or reputation, you can use these assets to scale exponentially.
– Adopt Radical Solutions: It’s about innovating. When you’re aiming for 10x, you’re not just refining what you’re already doing. You’re disrupting the market, like Jumia did with e-commerce.
– Prioritise High-Impact Activities: Now is the time to focus on what brings the highest return, whether that means expanding your market reach, introducing new services, or automating your operations.
The Nigerian Hustler’s Advantage
Let’s not forget that in Nigeria, our hustle culture gives us a unique edge. We dey hustle like say we thief. We’re always on the lookout for ways to ‘blow,’ and we have this inherent resilience that makes aiming for big things feel less daunting. Think about the street hawker who’s gone from selling gala in traffic to running a small provisions shop. Once they understand the market and build connections, they can leap from one small shop to a chain of kiosks in no time. It’s a shift from struggling for daily bread to baking loaves that everyone wants a slice of.
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Aim Higher, Na There the Juice Dey
If you’ve made it past the hardest part of building wealth—the initial grind—you’re already in a better position to take big leaps. So why not aim for 10x? The real secret is to change your strategy from simply trying to ‘survive’ to actually thriving. It’s time to think big, act big, and go for that exponential growth. Because, as we say, “na who no dey aim higher dey fall flat.”
Remember, the hardest part is getting started. Once you’ve hit that 2x, don’t just relax and coast. Go for the 10x. It’s easier than you think because now you’ve got the wind behind you.
Stay sharp,
Vaami from SimplVest 🚀
