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Palm Oil Biz.. How I Lost My First Capital - Business (4) - Nairaland

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Re: Palm Oil Biz.. How I Lost My First Capital by degre8: 10:16pm On Aug 06, 2017
Please bro here is my contact 08125830517. I am Desmond. I like this business. Can u give me more insight? Please just use the number and send me sms only let me call u. thanks
Re: Palm Oil Biz.. How I Lost My First Capital by Chukazu: 10:16pm On Aug 06, 2017
TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

HI!
Sent you a PM.
Re: Palm Oil Biz.. How I Lost My First Capital by correctguy101(m): 10:24pm On Aug 06, 2017
swiz123:
I can only caption this :"consequences of greed"
Nonsense caption if u ask me.

Without greed, there won't be success, until u find ursef in his shoes, you'll not understand.

Not all is as rich and wise as you are mi lord.
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 10:35pm On Aug 06, 2017
nicerichard05:



How can i contact you asap. tnx
watsap 08121680787
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 10:41pm On Aug 06, 2017
Chukazu:


HI!
Sent you a PM.
didn't get it.. U can check my signature for my contact
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 10:44pm On Aug 06, 2017
great664:


Reply my mail
didn't get any mail... U can send to boyinbosun@yahoo.com
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 10:47pm On Aug 06, 2017
nicerichard05:



How can i contact you asap. tnx
check my signature
Re: Palm Oil Biz.. How I Lost My First Capital by cybeks(f): 11:00pm On Aug 06, 2017
concho:
nawa o......r u on whatsapp?



yes
Re: Palm Oil Biz.. How I Lost My First Capital by cybeks(f): 11:02pm On Aug 06, 2017
concho:
nawa o......r u on whatsapp?



yes 08161166840
Re: Palm Oil Biz.. How I Lost My First Capital by concho(m): 11:03pm On Aug 06, 2017
cybeks:




yes
08162974744..........
Re: Palm Oil Biz.. How I Lost My First Capital by peacemara54(m): 11:20pm On Aug 06, 2017
TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

My monicker is peacemara54. Am into honey business. I supply states in nigeria and have supplied quality honey to many by his grace.

Let me quickly say something here to help others. Business men & women alike. 1.when you start a business, or about to start, draw you plan. What factors will speed up or make you good profit in the business, identify & work seriously on it 2. What factors will bring me loss if permitted in the business, identify, & work on it. Factors like, don't take a loan, start small, run from a bad supplier, never sell on credit, never spend your start-up capital, sell quality, run the business for at least a year before looking for a partner, don't be in a hurry to make a multi-million profit at initial stage you need to learn and grow or else you run into serious debt and many more.

If you consider this two things, you will always see yourself at the top.

Most importantly pls to all readers. Not everyone can be a business man or woman. Study yourself and know you area. Are you a business type? my friend/i heard this business is moving & you join the train, it may be a sorry case at the end

Lastly, this may be a bitter pill to swallow but try to consider...it may take you years before you break even in a business. many years/months to learn. Be patient & learn all you need to in the business before diversifying or trying to enlarge.

Your supplier determines your success in any business, if the product is bad, you are gone. Take time to find details about a supplier before engaging him/her, never rush so as not to bite your fingers.....

Thanks

7 Likes 1 Share

Re: Palm Oil Biz.. How I Lost My First Capital by Tscholar(m): 11:23pm On Aug 06, 2017
TUBLEZ:
Few years back after graduation and job not forthcoming, tho i was doing some menial jobs to cater for my basic needs and on d long run i was able to save only 50k and then i started browsing d Internet to know what i can do with my 50k so palm oil business really caught my attention and i decided to give it a trial as at then oil was 4k from d farm so with my 5k I started with 8-10 kegs of palm oil. Within few months into the business i was already having demands above my initial 10 kegs due to my aggressive marketing within my neighborhood and beyond but no where to get more funds to buy more kegs of oil on a weekly basis so i decided to look for investors here on nairaland, many people contacted and fortunately a lady invested little amount of money after we hv signed the MOU wit my lawyer i was so happy that my supplying power will jump from 10 kegs to 20 because i already hv d market but reverse was the case as an idea came from a colleague in d oil business that we should try our hands on plantain supply, we did some research at idi oro mkt and all was set as the profit margin was far far better than palm oil and it's a one off business just supply and make ur money instantly. So we decided to put our resources together to buy full load of plantain, we left lagos for idanre ondo state at about 12am to arrive at the market 5am we bought plantain and brought them to idi oro lagos to sell off but unfortunately we can't even explain how those OLO OBE sell them and we sold at a total loss loosing 70% of my capital and the remaining 30% got stuck with my colleague because i trusted him with the money but unfortunately he disappointed me and that was how i lost both my personal capital and the one my investor just paid without even trading with her investment at all.

Where do i start from again? i need to pay my house rent, eat, pay my bills and as well pay ROI to my investor ooooops the biggest fear and threat of my life sets in, i took another bold step to apply for a loan at a microfinance bank within 2 weeks the loan was disbursed this was supposed to give me a relief but on the long run it adds to my pains as i have to pay back the loan every month and as well pay my investor her ROI, the border was just too much hardly can i feed myself but i keep balancing the situation until few months later when i lost my dear mother i had to travel down to our village for the burial and everything and i spent one whole month at this time all business was pending i came back took money from the little capital to pay bank and ROI which now reduces my running capital again i was not too border so quickly i decided to order for oil from one of woman like that she has since disappears from Nairaland. My aim was to quickly buy and cover up for the lost month because i was still mourning my mum and i don't want to travel but believe me all the oil she sent to me was very bad smelling like a pit nobody can even buy them from me, another total loss with bank loan 3 months left and my investors ROI still over six months left of which she Wil also calls from her capital at the expiration of our contract. I went straight to my shelve bring out my certificate and resume job hunting with God on my side i got a job with a poor salary within 2 months of my search i thank God i got the job at that point because it was the job that helps me to pay up my bank loan and paid up to 80% of my investors ROI and her capital.

So I decided to work for more months then i resigned with few capital to start up all over again because i sure knows what palm oil business can bring to the table if properly managed compared to my salary job. All in all i thank God for everything.
https://www.nairaland.com/3549446/palm-oil-biz..investpartner-consult

What happens to this women,have u completed her balance of 20k plus interest.
Re: Palm Oil Biz.. How I Lost My First Capital by Tscholar(m): 11:33pm On Aug 06, 2017
TUBLEZ:
didn't get any mail... U can send to boyinbosun@yahoo.com
pls I sent you mail also.pls we need to talk.
Re: Palm Oil Biz.. How I Lost My First Capital by sapele914(m): 12:09am On Aug 07, 2017
swiz123:
I can only caption this :"consequences of greed"
well no venture no gain,sow in many waters you never know which will prosper.
Re: Palm Oil Biz.. How I Lost My First Capital by ikanason(m): 4:00am On Aug 07, 2017
TUBLEZ:
Few years back after graduation and job not forthcoming, tho i was doing some menial jobs to cater for my basic needs and on d long run i was able to save only 50k and then i started browsing d Internet to know what i can do with my 50k so palm oil business really caught my attention and i decided to give it a trial as at then oil was 4k from d farm so with my 5k I started with 8-10 kegs of palm oil. Within few months into the business i was already having demands above my initial 10 kegs due to my aggressive marketing within my neighborhood and beyond but no where to get more funds to buy more kegs of oil on a weekly basis so i decided to look for investors here on nairaland, many people contacted and fortunately a lady invested little amount of money after we hv signed the MOU wit my lawyer i was so happy that my supplying power will jump from 10 kegs to 20 because i already hv d market but reverse was the case as an idea came from a colleague in d oil business that we should try our hands on plantain supply, we did some research at idi oro mkt and all was set as the profit margin was far far better than palm oil and it's a one off business just supply and make ur money instantly. So we decided to put our resources together to buy full load of plantain, we left lagos for idanre ondo state at about 12am to arrive at the market 5am we bought plantain and brought them to idi oro lagos to sell off but unfortunately we can't even explain how those OLO OBE sell them and we sold at a total loss loosing 70% of my capital and the remaining 30% got stuck with my colleague because i trusted him with the money but unfortunately he disappointed me and that was how i lost both my personal capital and the one my investor just paid without even trading with her investment at all.

Where do i start from again? i need to pay my house rent, eat, pay my bills and as well pay ROI to my investor ooooops the biggest fear and threat of my life sets in, i took another bold step to apply for a loan at a microfinance bank within 2 weeks the loan was disbursed this was supposed to give me a relief but on the long run it adds to my pains as i have to pay back the loan every month and as well pay my investor her ROI, the border was just too much hardly can i feed myself but i keep balancing the situation until few months later when i lost my dear mother i had to travel down to our village for the burial and everything and i spent one whole month at this time all business was pending i came back took money from the little capital to pay bank and ROI which now reduces my running capital again i was not too border so quickly i decided to order for oil from one of woman like that she has since disappears from Nairaland. My aim was to quickly buy and cover up for the lost month because i was still mourning my mum and i don't want to travel but believe me all the oil she sent to me was very bad smelling like a pit nobody can even buy them from me, another total loss with bank loan 3 months left and my investors ROI still over six months left of which she Wil also calls from her capital at the expiration of our contract. I went straight to my shelve bring out my certificate and resume job hunting with God on my side i got a job with a poor salary within 2 months of my search i thank God i got the job at that point because it was the job that helps me to pay up my bank loan and paid up to 80% of my investors ROI and her capital.

So I decided to work for more months then i resigned with few capital to start up all over again because i sure knows what palm oil business can bring to the table if properly managed compared to my salary job. All in all i thank God for everything.

chat me up on whatsapp 07032902102
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 7:10am On Aug 07, 2017
Tscholar:
https://www.nairaland.com/3549446/palm-oil-biz..investpartner-consult

What happens to this women,have u completed her balance of 20k plus interest.
hvnt bro, but surely i Wil
Re: Palm Oil Biz.. How I Lost My First Capital by Wisdomcity2017: 7:51am On Aug 07, 2017
Nice one bro... Chat me up on Whatapp for partnership.. 07062635175
Re: Palm Oil Biz.. How I Lost My First Capital by Maryam1234(f): 8:13am On Aug 07, 2017
dejik2m:
Definitely, the lessons learnt will make you better. Im interested in the palm oil biz. Kindly send a means of getting in touch with you. Thanks.
The best place you can get quality palm oil in Nigeria is Kogi East,you can quote me anywhere.No colour,No smell,No addictive.Just pure and natural palm oil and guess what at a give away price.I myself have interest in Palm oil business,I have gotten the market but my only bottleneck is transportation,because as a kogiet I can get my oil conveniently from my village at most 10k per 20 liter,and the cheapest price I can resel is 16k.Please you can pm me,I will link you up with producers of palm oil for free but,you have to be critical minded,because I will advise you taste what you are buying before making payment,and don't try to involve middle men in your business transactions as they can be dubious at times.thanks.

1 Like

Re: Palm Oil Biz.. How I Lost My First Capital by Nobody: 8:35am On Aug 07, 2017
Maryam1234:
The best place you can get quality palm oil in Nigeria is Kogi East,you can quote me anywhere.No colour,No smell,No addictive.Just pure and natural palm oil and guess what at a give away price.I myself have interest in Palm oil business,I have gotten the market but my only bottleneck is transportation,because as a kogiet I can get my oil conveniently from my village at most 10k per 20 liter,and the cheapest price I can resel is 16k.Please you can pm me,I will link you up with producers of palm oil for free but,you have to be critical minded,because I will advise you taste what you are buying before making payment,and don't try to involve middle men in your business transactions as they can be dubious at times.thanks.
You can't sell oil 16,000 in Kogi. Which part is that? I stay in Lokoja
Re: Palm Oil Biz.. How I Lost My First Capital by Krak(m): 8:41am On Aug 07, 2017
EMMAACHILE:

You can't sell oil 16,000 in Kogi. Which part is that? I stay in Lokoja

She did not talk about reselling in Kogi.
Re: Palm Oil Biz.. How I Lost My First Capital by Wealthyonos(m): 8:52am On Aug 07, 2017
I think these posts should be clearer. Sometimes, you have to be a salary earner before you become the almighty investor..
It doesn't mean I've forgotten my dreams.

My mentality might be messed up.. But this is exactly how I feel..[/quote]

Bros, don't paint salary jobs as if it's reallly worth it. I worked in a place where u're owed for like 2months and when d salary is coming, u might just end up using it to settle debts. But as an entreprenuer, u can pay urself weekly or monthly.
Re: Palm Oil Biz.. How I Lost My First Capital by bonario1: 12:11pm On Aug 07, 2017
Maryam1234:
The best place you can get quality palm oil in Nigeria is Kogi East,you can quote me anywhere.No colour,No smell,No addictive.Just pure and natural palm oil and guess what at a give away price.I myself have interest in Palm oil business,I have gotten the market but my only bottleneck is transportation,because as a kogiet I can get my oil conveniently from my village at most 10k per 20 liter,and the cheapest price I can resel is 16k.Please you can pm me,I will link you up with producers of palm oil for free but,you have to be critical minded,because I will advise you taste what you are buying before making payment,and don't try to involve middle men in your business transactions as they can be dubious at times.thanks.
.. Am interested in the palm oil business and i want you to link me up with produces of palm oil this is my WhatsApp number 08073147786 thank you.
Re: Palm Oil Biz.. How I Lost My First Capital by Master19: 4:21pm On Aug 07, 2017
concho:
MY love, dnt go dia....... trust me, the biz will frustrate u. unless if you have anyother means of selling it apart from direct sells


Now this is the part I don't personally like. You would have given her the advice while laying emphasis on the disadvantages. she might have the technicalities to succeed in the same business that you failed in.

No hard feelings bro, just an observation.
Re: Palm Oil Biz.. How I Lost My First Capital by concho(m): 4:37pm On Aug 07, 2017
Master19:



Now this is the part I don't personally like. You would have given her the advice while laying emphasis on the disadvantages. she might have the technicalities to succeed in the same business that you failed in.

No hard feelings bro, just an observation.
i understand you, we v trashed it out. thanks tho

1 Like

Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 7:19pm On Aug 07, 2017
Getting notifications for pms in my mail but don't really know how the pm thingin works. I prefer direct mail instead. Boyinbosun@yahoo.com
Re: Palm Oil Biz.. How I Lost My First Capital by TUBLEZ(m): 1:53pm On Aug 10, 2017
For supply of fresh quality palm oil.. Call or watsap , 08121680787
Re: Palm Oil Biz.. How I Lost My First Capital by rockyk: 4:51pm On Aug 10, 2017
Maryam1234:
The best place you can get quality palm oil in Nigeria is Kogi East,you can quote me anywhere.No colour,No smell,No addictive.Just pure and natural palm oil and guess what at a give away price.I myself have interest in Palm oil business,I have gotten the market but my only bottleneck is transportation,because as a kogiet I can get my oil conveniently from my village at most 10k per 20 liter,and the cheapest price I can resel is 16k.Please you can pm me,I will link you up with producers of palm oil for free but,you have to be critical minded,because I will advise you taste what you are buying before making payment,and don't try to involve middle men in your business transactions as they can be dubious at times.thanks.


Bro how do you mean transportation is your only issue?
Re: Palm Oil Biz.. How I Lost My First Capital by rockyk: 4:54pm On Aug 10, 2017
Maryam1234:
The best place you can get quality palm oil in Nigeria is Kogi East,you can quote me anywhere.No colour,No smell,No addictive.Just pure and natural palm oil and guess what at a give away price.I myself have interest in Palm oil business,I have gotten the market but my only bottleneck is transportation,because as a kogiet I can get my oil conveniently from my village at most 10k per 20 liter,and the cheapest price I can resel is 16k.Please you can pm me,I will link you up with producers of palm oil for free but,you have to be critical minded,because I will advise you taste what you are buying before making payment,and don't try to involve middle men in your business transactions as they can be dubious at times.thanks.



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