Hello,everyone.
I love nairaland for one thing; I can share my experiences frankly without fear of being judged by loved ones. I recently started a business,less than a week now. I want to share my experiences as time goes on.
I've tried my hands at a few businesses in the past,but failed. I first imported ladies' shoes and bags from the US some years ago, but I didn't recover about half of my seed money. This was as a result of the poor quality of the bags,but the shoes were of high quality. However I couldn't sell about 1/3 of the shoes, and almost all the bags. I didn't have a shop then,and was selling from my car.
My 2nd attempt was at network marketing which failed woefully. I invested a lot of money,but ended up with so many products I couldn't use, and none of the promises of riches materialized.

[right][/right] My 3rd attempt was at selling baby clothes,shoes etc, but I didn't succeed. I attribute the failure to lack of zeal on my part. I totally forgot at times that I was supposed to be hustling for buyers,since I didn't have a shop,and weeks turned to months without me making any reasonable sales. Aside all these, I've tried my hands on HYIPs but lost every single kobo invested.
Nairalanders,do you think this means I'm not cut out for business? Most times, my sleeping and waking thoughts are about how to grab business opportunities. However,I tend to lose interest once I've started it. A friend of mine thinks it means I lack passion and should not be involved in business, esp as I've lost money severally. However,I don't think so. That's why I decided to open a shop. I'll be updating you all as time goes on.

Spreads mat w8tn

What are you selling in this shop?

@ OP, nice move.

People start businesses and fail for alot of reasons. But your interests to get back on and try something different sets you on an entrepreneurial pathway. Sometimes we lose focus and stop giving our business the right attention which eventually leads to the business's demise. Your decision to document your progress here will not only help you get some focus but ensure you dont fail. The reason is because alot of peeps here will be keeping tabs on your new business so failing isn't an option. If you do, you will not only disappoint yourself but hundreds of others watching.

Do not think your consistent failures in your past endeavors does not not make you a business woman, you are one. All you need is the right push and like i always say, no better person to push you than yourself. And one of the fist ways to push your self is what you intend to do. I was once like you but i gave myself that powerful push, i decided it's either i get it right this time or .............. there was no second option.

Now i work like i always do for people, i go the extra mile to get things done, i get tired but still push on, i dont feel like waking up in the morning but i fight to wake up cos i got stuff to do, i see the weather dark but i still move ahead and end up getting soaked in the rain, i get to the office and use up the last N400 i have to buy fuel because i have faith money is gonna come in before the close of business, i push myself so hard that i no longer watch movies, football, or ping.

I am beginning to see the success and the doors are beginning to open. Things are starting to fall into the right places. The point of all these? Push yourself so hard that you wont even have the time to eat, do the right thing, ask the right questions, dont be greedy, don't let any day go to waste, always be on the move (come rain or sun), and you WILL excel in your next start-up. Good Luck.

You can draw up some motivation from my start-up thread https://www.nairaland.com/1824660/5-star-global-company-start-up

reaky:
Spreads mat w8tn

*sits down on spreaded mat. holding a pen and paper in hands .

@topic, Aunty Chioma, please continue.

Gboliwe:


*sits down on spreaded mat. holding a pen and paper in hands .

@topic, Aunty Chioma, please continue.

Help me buy lacasara and eggroll

reaky:

Help me buy lacasara and eggroll

Mange this groundnut and purewater iBeg before they catch us derailing making noise and send us out.

Gboliwe:


Mange this groundnut and purewater iBeg before they catch us derailing making noise and send us out.

Abi ok ooo
Hope the water de chill

reaky:

Abi ok ooo
Hope the water de chill

Where you see light? When GEJ no supervise phcn privatisation. No vex, na for hot sun dey boil it oo

Gboliwe:


No vex, na for hot sun dey boil it oo

Buhahaha drink alone ooo

@ OP, kindly come and give us updates.

Following ...

Hi all, so sorry I couldn't update b4 now. Work today(my regular job) was hectic. I didn't have breathing space.
Thanks everone for ur encouraging words.
I came to a point in my life where I decided I just have to have another means of income. The stability of my regular job became questionable and I realized I could be fired any moment. I also had a project I needed to complete but the funds were not there. So I figured that I should start a business that will grow with time and enable me complete the project next year.
So I thought of businesses that will guarantee a good return on investment without taking too much of my time. I initially considered selling baby food in a shop, but was discouraged by the fact I couldn't afford rent in a high foot traffic area (ranging from 500 to 800k) which the business needed. If I sited the business in hidden areas where I could afford the rent, low patronage may make the foods expire.
I then considered recharge card wholesale and printing, but that also needed a lot of capital and high rentage.
I didn't have land for fish farming or poultry or I may have considered it. I didn't want the problem of having excess unsold clothes and shoes which would take a long time to sell off. I also tried selling party packs but buyers wanted ridiculously low prices.
What I wanted basically was to sell fast moving goods that I could afford the start-up costs. So a friend of mine,my tailor precisely, suggested opening a shop for tailoring materials. Advantages were they were fast-moving, and didn't need an area with high rentage because customers are mainly tailors who will fish you out wherever you are. Shops in the open market in my area are very cheap, and there was a high concentration of tailors in the market. I had no idea about the business so I had to meet 4 of the owners of tailoring materials shops to tell me about it. So tailoring materials was what I eventually settled for. I'll tell you what the traders told me in my subsequent post that informed my decision.

We will succeed in business if we are looking at it as a long time investment. The moment we are not making progress in a short time,we felt we have lost and loose interest.I am saying these from experience too. I could remember when i started BULK SMS business but because the returns was low,it becomes abandon project and that same year my friend started it ,i told him it was a waste of time, My brother,today, about 2 yrs now,that my friend is making it big.He is well know for what he is doing now and creating brand . So i believe even if you persist in doing what you were doing and creating brand ,people will know you for it and you just need to package your service to be different from others. Like taking it online,creating Facebook page adverting etc. Believe me my brother give it one year ,you will make it.

The first lady I met is a graduate who started the business because of unemployment. She told me a tale of how unprofitable the business was, as she couldn't travel to Onitsha or Lagos to buy goods, but had to buy around town at a higher cost price because of her family. However, she was able to make sales on a daily basis.
The 2nd lady appeared quite successful and gave me some tips which I find quite useful. However, she discouraged employing anyone as salesperson because from her experiences they would steal your money at every opportunity. She had quit her job as an accountant when she realized that her salesgirl was seriously cheating her. She agreed to making a good living from her business.
The 3rd young business owner I met is a graduate working in a pension company who started the business immediately after youth service. He also gave me very detailed information as to how to go about buying goods, prices, where to buy from etc. Indeed, he was the most helpful. He also appeared successful.
The last person I met is a tailor who also sold tailoring materials. She did her best to discourage me without any useful advice. Her reasons were the same as the previous lady; stealing by salespersons. They both hinged their arguement on the fact that it is very difficult to take stock of goods, so stealing may be difficult to detect.

following .

"We will succeed in business if we are looking at it as a long time investment"

Truer words have never been said!

Lovely expository.
God bless your hustle..more.

chioma134:
The first lady I met is a graduate who started the business because of unemployment. She told me a tale of how unprofitable the business was, as she couldn't travel to Onitsha or Lagos to buy goods, but had to buy around town at a higher cost price because of her family. However, she was able to make sales on a daily basis.
The 2nd lady appeared quite successful and gave me some tips which I find quite useful. However, she discouraged employing anyone as salesperson because from her experiences they would steal your money at every opportunity. She had quit her job as an accountant when she realized that her salesgirl was seriously cheating her. She agreed to making a good living from her business.
The 3rd young business owner I met is a graduate working in a pension company who started the business immediately after youth service. He also gave me very detailed information as to how to go about buying goods, prices, where to buy from etc. Indeed, he was the most helpful. He also appeared successful.
The last person I met is a tailor who also sold tailoring materials. She did her best to discourage me without any useful advice. Her reasons were the same as the previous lady; stealing by salespersons. They both hinged their argument on the fact that it is very difficult to take stock of goods, so stealing may be difficult to detect.

One of the bitter lessons i have learnt in life is this: When you ask people about a particular business, they ALWAYS discourage you and tell you why you wont make it in the business. But the sad truth is, if a business is killing you, the unconscious step people take is to quit the business before it buries you. Now these same peeps who keep discouraging you have NOT quit the business if its that bad. A man who sells phone accessories has told me he is not making money and the business is surviving by the Grace of God, but this same man just finished building his house and has moved in. He even has a car.

So, dont follow discouragements, if your heart is in it, do it. If you are persistent and committed, you will make it. Focus on asking how the fix prices, and how they attend to customers....that's what you should learn and not if they make money from it.

May God bless all our hustles.
I am currently in paid employment but want to start a business to augument my salary and subsequently be the source of livelyhood. So following this thread.

databoy247:
@ OP, nice move.

People start businesses and fail for alot of reasons. But your interests to get back on and try something different sets you on an entrepreneurial pathway. Sometimes we lose focus and stop giving our business the right attention which eventually leads to the business's demise. Your decision to document your progress here will not only help you get some focus but ensure you dont fail. The reason is because alot of peeps here will be keeping tabs on your new business so failing isn't an option. If you do, you will not only disappoint yourself but hundreds of others watching.

Do not think your consistent failures in your past endeavors does not not make you a business woman, you are one. All you need is the right push and like i always say, no better person to push you than yourself. And one of the fist ways to push your self is what you intend to do. I was once like you but i gave myself that powerful push, i decided it's either i get it right this time or .............. there was no second option.

Now i work like i always do for people, i go the extra mile to get things done, i get tired but still push on, i dont feel like waking up in the morning but i fight to wake up cos i got stuff to do, i see the weather dark but i still move ahead and end up getting soaked in the rain, i get to the office and use up the last N400 i have to buy fuel because i have faith money is gonna come in before the close of business, i push myself so hard that i no longer watch movies, football, or ping.

I am beginning to see the success and the doors are beginning to open. Things are starting to fall into the right places. The point of all these? Push yourself so hard that you wont even have the time to eat, do the right thing, ask the right questions, dont be greedy, don't let any day go to waste, always be on the move (come rain or sun), and you WILL excel in your next start-up. Good Luck.

You can draw up some motivation from my start-up thread https://www.nairaland.com/1824660/5-star-global-company-start-up

Word!!

chioma134:
Hello,everyone.
I love nairaland for one thing; I can share my experiences frankly without fear of being judged by loved ones. I recently started a business,less than a week now. I want to share my experiences as time goes on.
I've tried my hands at a few businesses in the past,but failed. I first imported ladies' shoes and bags from the US some years ago, but I didn't recover about half of my seed money. This was as a result of the poor quality of the bags,but the shoes were of high quality. However I couldn't sell about 1/3 of the shoes, and almost all the bags. I didn't have a shop then,and was selling from my car.
My 2nd attempt was at network marketing which failed woefully. I invested a lot of money,but ended up with so many products I couldn't use, and none of the promises of riches materialized.

I have read through this thread before quoting you here, databoy seems to be the only real business person here and has talked from experience but he was not as explicit as I would have wanted him to on the reason why you keep failing.

To start with, you are in business for the wrong reason. Yes, we all want to make money but it should not be the primary reason you go into business. You should do what you love to make money, the more you do it the more you become recognized and eventually money is the last thing that starts flowing in. You should also ensure whatever makes you happy that you choose to engage in, is something people are willing to pay for. Even if your business picks up and you do not love it, you will eventually kill it through horrible customer service.

You may want to say 'what is this dude talking about?' rhetorically but that is the truth and that is the reason you keep failing. At the risk of sounding too harsh, let me inform you that this shop you opened will end up like the rest if you do not like the business you are into and you are only in it for the money. You have to love what you do, when you love what you do, you will stick to it no matter the challenges and believe me, new businesses are experts at throwing problems at you-they try to frustrate you just as hard as humans try to do. You will spend your last money on it when you have not even had anything to eat. Even big successful businesses, the day the operators stop loving what they do, the business dies.

Take my advice and rethink things over. Being an entrepreneur is not easy and that is the reason there are so little people involved in it successfully.

We are waiting to read more. Dont dampen the spirit.

naijacutee:
@blink182 I'd like to hear more about remitiescrow. What's your email address?

Thanks a lot for your interest.

You can reach me via contact@remitiescrow.com

For instant replies though, send a PM.

Regards

blink182:
I have read through this thread before quoting you here, databoy seems to be the only real business person here and has talked from experience but he was not as explicit as I would have wanted him to on the reason why you keep failing.
To start with, you are in business for the wrong reason. Yes, we all want to make money but it should not be the primary reason you go into business. You should do what you love to make money, the more you do it the more you become recognized and eventually money is the last thing that starts flowing in. You should also ensure whatever makes you happy that you choose to engage in, is something people are willing to pay for. Even if your business picks up and you do not love it, you will eventually kill it through horrible customer service.
You may want to say 'what is this dude talking about?' rhetorically but that is the truth and that is the reason you keep failing. At the risk of sounding too harsh, let me inform you that this shop you opened will end up like the rest if you do not like the business you are into and you are only in it for the money. You have to love what you do, when you love what you do, you will stick to it no matter the challenges and believe me, new businesses are experts at throwing problems at you-they try to frustrate you just as hard as humans try to do. You will spend your last money on it when you have not even had anything to eat. Even big successful businesses, the day the operators stop loving what they do, the business dies.
Take my advice and rethink things over. Being an entrepreneur is not easy and that is the reason there are so little people involved in it successfully.

Thanks a lot. You've given me food for thought. I'd been in high spirits cos I've finally started my business. Sales seem to be diminishing by the day, and I've identified the reason, I did not stock all the ranges of goods, so customers go to where they can get all they need at once. I've been in low mood since today, but I guess it's part of the learning curve. I was waiting for a suitable time to travel after getting permission from my office, but yesterday and today's sales really discouraged me. I have to go to nearby markets,even if it means buying goods at their selling prices, and selling at the same price I bought, in order to retain existing customers and making new ones. Goodnight all.

chioma134:

Thanks a lot. You've given me food for thought. I'd been in high spirits cos I've finally started my business. Sales seem to be diminishing by the day, and I've identified the reason, I did not stock all the ranges of goods, so customers go to where they can get all they need at once. I've been in low mood since today, but I guess it's part of the learning curve. I was waiting for a suitable time to travel after getting permission from my office, but yesterday and today's sales really discouraged me. I have to go to nearby markets,even if it means buying goods at their selling prices, and selling at the same price I bought, in order to retain existing customers and making new ones. Goodnight all.

Just keep pushing, you will surely get there.

Hello Chioma, people have made encouraging remarks and I want to join them in saying keep on pushing. Since you are doing what you love to do. Something that taps into your energy, that taps into your passion, you will succeed. I have faced many hurdles in my business too. For instance I've thrown away more than 2500liters of liquid soap because of wrong formulation! But I didn't quit. I'm still in d business. But things are better now even though I'm not there yet. So don't quit.

Nice comments.

I love this.
I'm sticking around for regular updates.

blink182:
I have read through this thread before quoting you here, databoy seems to be the only real business person here and has talked from experience but he was not as explicit as I would have wanted him to on the reason why you keep failing.

To start with, you are in business for the wrong reason. Yes, we all want to make money but it should not be the primary reason you go into business. You should do what you love to make money, the more you do it the more you become recognized and eventually money is the last thing that starts flowing in. You should also ensure whatever makes you happy that you choose to engage in, is something people are willing to pay for. Even if your business picks up and you do not love it, you will eventually kill it through horrible customer service.

You may want to say 'what is this dude talking about?' rhetorically but that is the truth and that is the reason you keep failing. At the risk of sounding too harsh, let me inform you that this shop you opened will end up like the rest if you do not like the business you are into and you are only in it for the money. You have to love what you do, when you love what you do, you will stick to it no matter the challenges and believe me, new businesses are experts at throwing problems at you-they try to frustrate you just as hard as humans try to do. You will spend your last money on it when you have not even had anything to eat. Even big successful businesses, the day the operators stop loving what they do, the business dies.

Take my advice and rethink things over. Being an entrepreneur is not easy and that is the reason there are so little people involved in it successfully.

This is the best advice so far.

Let me say that the reason why LOVING what you do is paramount to your success.

Loving what you do, or having a passion is like a foam that absorb any water without buckling under pressure.

Passion will never make you feel the heat of obstacles. Passion is that shield/umbrella that will prevent your innat desires from being wet.

Passion fuels you on.... Is what make successful businesses around the world. Ask any successful business person and you will be told that it's never about the money.

It’s not about what you do, it’s about how you do it.

Following with passion!