In business, people often talk about capital, opportunities, and timing. But Michael always said there's another invisible currency that can either multiply or destroy everything you build: your circle of friends.
"James," he told me one afternoon while we were cleaning one of our customer's cabinet;
"Your business will either grow faster or die sooner depending on who's speaking into your life."
It took me years to understand he wasn't exaggerating.
The Builders
Michael's circle was a carefully chosen group of people.
Tunde, a supplier who never just delivered goods — he advised Michael on which products were trending so he could stock items that sold out quickly.
Amaka, a friend in tech who taught him how to list his furniture online without paying for ads.
Mr. Benson, his mentor, who once made him rewrite his entire business plan just because he noticed it lacked a strategy for scaling.
Michael didn't just "have friends." He had assets disguised as people. Conversations with them left him with new strategies, new contacts, or new motivation.
The Drainers
My own friends were different. We had fun, maybe too much fun.
Every Friday, it was a new lounge, new drinks, new jokes. And when I talked about business, they would change the topic to the latest celebrity scandal or a new movie.
They weren't bad people, but they were spenders by default. They believed life was meant to be enjoyed now, even if it meant nothing would be left tomorrow.
Michael warned me many times:
"James, some people will cheer for you when you make a sale, but they'll also help you spend the profit. You must know the difference between supporters and consumers."
The Profit That Disappeared
A few weeks after my first successful furniture accessory sales, I had ₦7,000 in profit. For someone new to business, that felt huge.
That weekend, a few friends called:
" The Big James, you've been working too hard. Let's go and relax small."
We went out, food, drinks, music, transport. I didn't feel the money leaving because it was in small amounts: ₦2,000 here, ₦1,500 there, ₦3,000 somewhere else. But by Monday morning, my profit was gone.
When Michael asked about the business, I laughed.
"It's fine. I'll make another profit from my next sales."
Michael's Lesson on Growing a Business
Michael didn't laugh.
"Bro, that's the difference between a consumer and an entrepreneur. A consumer sees profit as extra money to spend. An entrepreneur sees profit as the fuel to expand."
He pulled out his notebook and drew two scenarios:
Scenario 1 – Spender:
Start with ₦40,000
Make ₦7,000 profit
Spend the ₦7,000
Capital remains ₦40,000
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Scenario 2 – Investor:
Start with ₦40,000
Make ₦7,000 profit
Reinvest ₦7,000 into buying more stock
New capital = ₦51,000
Then he said something that stuck with me:
"If you keep reinvesting profits for just two years, your business can triple or quadruple in size. But if you keep spending your profits, your business will be the same size forever, until it dies."
Real-World Example
Michael shared a story about Sara Blakely, the founder of Spanx.
Before becoming the world's youngest self-made female billionaire, Sara worked selling fax machines door-to-door. With just $5,000 in savings, she developed her first product. Instead of spending her first big profits on luxury, she reinvested heavily into better materials, marketing, and hiring skilled staff. For years, she kept her personal spending low while her business expanded globally.
Michael looked at me and said, "Sara could have upgraded her lifestyle immediately, but she understood that every dollar her business made was a soldier. You don't waste soldiers, you send them back into battle to win more territory."
Changing My Circle
That moment was a turning point for me. I realized my environment was shaping my decisions more than my own logic. If all your friends treat money like sand in their hands, it's only a matter of time before you do the same.
So, I started spending less time with my spender friends and more with people who could challenge me, teach me, and inspire me to grow. I joined a small business owners' meetup, followed successful entrepreneurs online, and even asked Michael to introduce me to his mentor.
And just like Michael promised, my thinking began to change and soon after, so did my results.
In Chapter 8 – The Value of Discipline, I'll share how I learned that the biggest battles in business aren't fought in the market, they're fought in your daily habits. And those habits will determine whether your business starves or thrives.