Making Money Without Money: How Making K12,000 In 5 Days Has Changed My Life And 12 Lessons You Can Learn From My Experience

By Tiri Kuimbakul

Making Money Without Money relates the author's experience of making more money in a week running a course than he had ever made over the same time period when he held paid jobs. The story is even more impressive in that he made this money without spending any money; in fact, he did this when he was completely broke as a result of being unemployed for 8 months after being forced to resign from his last job. Following that first experience, he developed several other courses based on the knowledge he had acquired over the years of working in the coffee industry and made even more during the following few months, using the same strategy of not spending any of his own money. That was back in 2001. The experience changed the course of his life. He has been self-employed since as a writer, speaker, trainer and mentor.

• Language: English
• Publisher: Xlibris AU
• Release date: Jan 4, 2024
• ISBN: 9798369494493

Tiri Kuimbakul

Tiri Kuimbakul graduated from the University of Papua New Guinea with an Honours Degree in Economics in 1988. After working for public and private sector organisations for 12 years, he became self-employed. Today he writes and speaks full-time as a motivational speaker, trainer, business coach and mentor. His areas of focus are Personal Development, Personal Finance, Business, and Investing. He is the author of Life After Graduation, Winning The Game Of Money and Be Your Own Boss Volume 1.

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Copyright © 2024 by Tiri Kuimbakul.

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the copyright owner.

Any people depicted in stock imagery provided by Getty Images are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Getty Images.

Rev. date: 12/20/2023

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CONTENTS

Preface

PART 1

MAKING K12,000 IN 5 DAYS WITHOUT

SPENDING ANY MONEY

Job Searching

Some Hard Thinking

A Mind-Opening Statement

The Destiny-Defining Breakthrough

My Declaration of Independence

What Being Self-Employed Has Meant For Me and My Family

The ‘Boot to Destiny’

Is Being Self-Employed Risky?

Looking For Diamonds in Faraway Places

Making Money Without Money: A Powerful Testimony

What Assets Have You Got?

PART 2

12 LESSONS YOU CAN LEARN FROM MY

EXPERIENCE

Introduction

Lesson # 1:Be Attentive To The Communication You Are Receiving

Lesson # 2:Use What You Already Have To Make A Living

Lesson # 3:The Statement ‘You Need Money To Make Money’ Is Really A Myth

Lesson # 4:Employees Are Usually Underpaid

Lesson # 5:You Can Make More Working For Yourself

Lesson # 6:You Can Create Several Income Streams

Lesson # 7:Getting Terminated Can Be A Blessing In Disguise

Lesson # 8:Your Breakthrough Can Come From Unexpected Places

Lesson # 9:Conditioning By School Can Become A Major Hindrance To Becoming Self-Employed

Lesson # 10:Adversity Brings Out Hidden Potential And Abilities

Lesson # 11:Relationships Are Valuable Assets

Lesson # 12:Get Paid In Advance Or Purchase On Credit

Conclusion and Summary of Lessons

PREFACE

A lot of people in the world desire to start their own businesses. They have profitable business ideas based on innovative products and services, but the one major snag is the lack of start-up capital. In my career over the years as a writer, speaker, and business mentor, the most common statement I have heard is, "I want to start my own business but I don’t have money to start with."

This little but powerful book contains the story of how I got into the training and publishing business without spending any money. In fact, as you will read, I started with just an idea from one of my mentors and no money at all at a time when I didn’t have a cent to my name.

Based on this experience, I tell people who say they don’t have money to start, that they are the right candidates to get into business. Do you know why? Because the lack of money causes people to think and become creative with the other resources they have.

In other words, if you have money, you will not think as hard about how you can combine the other resources you have to make money. Not having money will force you to think. In doing so, you will come up with creative solutions to the problem of lack of capital.

If you have some money, it is a bonus; but if you don’t have any money, you can still utilise what else you have to generate income. Not having money to start with must not prevent or hinder you from starting a business.

My standard advice to people who talk to me about starting businesses is this: "If you have a little money, start with that. Don’t borrow to start; borrow only to grow your business after you have established a reliable flow of cash. But if you don’t have money, think about how you can raise or generate money by using the assets you have like your time, knowledge, skills, and contacts, and what may be lying in your house or backyard. Never allow the lack of money to stop you."

This is what this book is all about. Its purpose is to open your mind and inspire you to start a business even if you don’t have money.

The book is divided into two parts. Part 1 is about my journey in life following graduation from school and the experiences I had with holding paid jobs.

The main lesson I have learnt – which most people who work for others know by experience – is that jobs are not as secure as we have been programmed to think. In addition to being insecure, jobs don’t pay as well as we have been led to believe.

Part 2 of the book discusses twelve lessons I learnt following my experience of starting a business without spending any money. I believe these lessons are very instructive for anyone who has business ideas but no money to start.

I know of a good number of people that have launched out into business after reading this book. I hope that you will tell me your story a few years from now after reading it, getting inspired and empowered, and starting your own business with no money.

Yes, you can make money without spending money.

PART 1

MAKING K12,000 IN 5 DAYS

WITHOUT SPENDING

ANY MONEY

JOB SEARCHING

My story goes back some years but I will start from the time when I was unemployed for eight months, because that is when the events I am about to relate took place, and my life took on the path which I have been walking for the past two decades.

To make a long story short, I was forced to resign from a job after one year into a three-year contract. The business owner for whom I worked decided that my services were no longer needed by his company in spite of the fact that I had set up the business’s export operations from scratch and taught him everything about the technical aspects of the coffee exporting business during that first year.

Despite the fact that I had twelve years of experience and a very impressive C.V., I just could not get a job. My family and I were behind on our rental payments by many months, and we constantly received threats of eviction. By the grace of God the landlords accepted our verbal commitments to pay up as soon as we had some money. (We eventually ended up buying the house; it is another story in itself which I tell in another book).

It was one of the most difficult and trying times my family and I have been through. In fact, looking back, it was the lowest point in our lives.

SOME HARD THINKING

It was during this time that I started doing some hard thinking about the wisdom of working for other people. I had experienced being laid off earlier, and now I was forced to resign. It dawned on me that working for other people was not as safe and secure as I used to think. I realized that it was actually a risky way of living as the job could be taken away anytime, without prior warning.

My family and I also experienced the effects of bad money habits. Like most working class people, I didn’t have any savings, thinking that the job would always be there. When I left the company, we were technically broke after a couple of weeks of living on the severance pay.

The pertinent lesson I learnt was this: Joblessness results in homelessness and poverty in an urban setting.

We normally think of poor people as those who reside in rural areas and the squatter settlements on the fringes of cities and towns but we don’t realise that highly educated and highly paid people also slide into poverty when they lose their jobs.

It was during this time of contemplation that I registered a business. Even though I had started four different small businesses (a PMV; a second hand clothing shop; a piggery; and a fast-food outlet) in past years and all of them had failed due to various reasons and I had lost a lot of money, I did not give up because apart from getting another job, a business was the only other way I could generate income to sustain my family and I.

This time, though, I decided to do freelance consulting. I would conduct research on various topics related to economic development and agriculture development in particular, package it, and sell the information to various clients based on my knowledge and experience as an economist with experience in the agriculture sector.

However, even though I took the positive step of registering the consulting business, I did not muster the courage to do anything for several months.