The Millennials Hangout show powered by BusinessDay has quickly become one of the foremost programmes offering the most recent and intelligent analysis on business, finance, economy, and market trends, particularly in Nigeria and Africa.
The show, anchored on the BusinessDay’s Youtube platform, followed by thousands of subscribers and a growing stream of audience, hangs on the objective of providing a safe space where young bright minds converge to discuss issues pertaining to the economic realities of today’s world. The programme seeks to support economic growth, foster financial literacy, influence governmental corporate policies, proffer insightful market analysis, and champion the spirit of entrepreneurship, enabling its audiences to make informed decisions within the millennial demographic.
The show’s recent episode, dubbed “Financial Independence for Millennials,” gathered different thought leaders who are thriving despite recent economic challenges to submit intelligent contributions regarding the topic. Among the thought leaders was Mr. Hilary Uthuke, CEO of Korlord works, a digital brand that helps thought leaders and organizations gain visibility online, alongside web management and digital writing, offered insights on how millennials can achieve financial independence, particularly in today’s digital world.
While other speakers like Mr. Onome Ohwovoriole explained the scope of the millennial demographic; noting that those born between 1981-1996, which now fall within the age bracket of 28 – 43 are identified as millenials. He pointed out that identifying the age bracket sets the tone for analyzing their financial stages, leading to proffering practical solutions according to each stage.
Hilary, however, projected a more realistic picture of the average Nigerian millennial, where he described it as “terrible,” making it the reason he posits that millennials should develop the mentality of creation, to build and innovatively set up business systems or structures for themselves.
“Learn a skill, not just to get employed by organizations, but to build a business around it,” Hilary advised. He spoke about the numerous opportunities the tech and digital age is offering, and for him, therein lies the keys to financial independence. Stressing out of concern, Hilary highlighted that “success is good, but even better when it’s achieved early.” He said, not to induce pressure or fuel hasty decisions, but to urge millennials to think more about the long-term, such that if adequate time is devoted to learning a skill now, the future would seem quite secure for that of oneself and family, giving robust enjoyment while still being a youth.
Expatiating on entrepreneurship, Hilary outlined areas individuals can navigate to achieve realizable goals. According to him, either of the options, if properly utilized, yield results:
• Learning a soft skill: Hillary suggested that regardless of the time involved in learning a skill and building a business around it; it’s the surest way to attain sufficiency, which is better than depending on salaries that only comes 12 times a year.
• Software as a Service: Hillary encouraged millienials to note a problem and find ways ro collaborate with others to create a software-based solution for that problem. He added that when this approach is practised, risk involved in the venture becomes shared, providing good opportunities for business diversification to create more revenue.
• System to Service: Here, a skill isn’t necessarily involved, as it has to do with creating a system that allows the provision of intermediary service between problem-holders and service-providers. To buttress, one might decide to link job seekers (talent) to an organization looking fot specific services. This system is powerful, as it’s an easy and fast-paced modern cue for wealth generation. Hilary further cited the instance of professionals on service-oriented platforms, training and matching virtual assistants to other professionals around the world who need them.
Hilary proceeds to urging millennials to deliberately create good networking systems that they can leverage on in times of opportunities. He encouraged the practice of offering free services within networks in order to gain awareness and credibility for their brands. He recommends the utilization of what he termed “one pack solution model,” explaining that the model allows for a single person to identify a problem, solve the problem, and enjoy the returns, all within a single structured process.
Hilary concludes that financial independence isn’t a one-time achievement but rather a continuous pursuit; meaning it’s a process that demands millennials to constantly learning practical and marketable digital skills to apply the approaches he outlined. “Financial independence can only be defined when you control and change the flow of income for your business by providing solutions to people’s problems,” Hilary concluded.
