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How Do i combine Bussiness with full time employment - Business - Nairaland

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How Do i combine Bussiness with full time employment by mkyusuf: 6:05pm On Aug 09, 2011
Hello House.
i am architect and i am gainfully employed in a reputable organisation, though not in line with what i studied in school but i am well paid.
I am passionate about enterprenurship or running my own bussiness, although i still practice architecture  a lilltle bit part time but sometimes my job requires i travel for a long time, so i hve little or noo time to follow up my private clients or work on this personal projects.
Wht do i do? can i still start or run a bussiness while still employed. since i still need this salary i earn to grow the bussiness. i also consider travelling out to do my masters abroad then come back quickly to Nigeria.
My ultimate goal is to be my own boss. but with d uncertainties of this country i thinkk it requires critical analysis.
starting a bussiness when u are not fully on ground is also very risky.
Pls house i need your candid advise
Re: How Do i combine Bussiness with full time employment by yamakuza: 3:00pm On Aug 11, 2011
maybe u could :

1. Consult
2. Partner
3. Delegate
4.
5.
Re: How Do i combine Bussiness with full time employment by mkyusuf: 9:51am On Aug 12, 2011
thanks utopia
i am really thing of partnership.
i tried it but it dint wor cos my supposed partner was very greedy,
but i am still searching for a better partner
Re: How Do i combine Bussiness with full time employment by ymkz: 4:03pm On Aug 12, 2011
how about the other 2 options?

Partnerships are better when there are at least 3 or 5 people involved, for checks and balances.

How about family?
Re: How Do i combine Bussiness with full time employment by mkyusuf: 4:15pm On Aug 12, 2011
Yah Delegation can work.
but you need to groom or train someone b4 u can delegate them because it requires some skills.
pls correct me if i am making a mistake.
one needs devine intervention to get a good delegate/partner.
Re: How Do i combine Bussiness with full time employment by USABizMan(m): 8:28am On Aug 14, 2011
What I have learned over the past 5 years is that there is a very big opportunity for business by bridging the United States and Nigeria. I meet my good fried from Lagos at our place of employment just a little over 5 years ago. I was amazed by his story of winning a Visa in order to come to America for a chance at a new beginning. He brought his wife and 2 kids. He had no idea what he would do once he got here and tried several jobs before finding the one he is at now. I met him on his first day on the job and started making friends with him. I took interest in him as a person and we very quickly became good friends. At that time, he was living in a very low income apartment area and had no furniture in his place. My wife and I were in the process of buying new furniture and gave him our things. We also bought his kids a few Christmas presents as I knew he could not afford them. Why am I telling you this long story? Today even though he still works at the same place, he has been able to rely on trusted people back in Nigeria and has done a great deal of business. He now lives in a very nice area here in the United States and does not have to worry about how to get money to eat. We have joined ventures and have shipped many cars and goods in containers over the years. He kept his job right now as the company is paying for him to further his education. He held a high position as a banker in Nigeria and had a Bachelor's in Finance, but decided to gain more education in Computer Information Science. He is set to finish up with school within a year and will go into business full time. He was able to do most of his business ventures by using the income from his current job. This way if the business did not show a good return, he still would get pay from the company. There is nothing wrong with working the 2 places until you feel yo uare ready to go into business on your own. Good luck.
Re: How Do i combine Bussiness with full time employment by yamakuza: 10:14am On Aug 14, 2011
^ nice, especially the good feeeback about ur Nigerian friend.

I believe ur scenario is different cos u r more product oriented than service oriented, like the op's venture is.

As such, the window for fraud is shorter and most clients pay up front anyway.

Wrt the partnership btwn u and ur friend, I believe he's bound to honor the terms cos he lives in a society where he can be easily prosecuted, and he has a lot to loose should he default.

Perhaps that is why the case is a total opposite when places are reversed. In a Nigerian environment, u are more likely to get short changed in the long run, which is what the poster is trying to avoid.

If he doesnt want a firm with 3 or 5 partners, training and delegating (to) a family member might work.

At least that way, if he gets cheated, the money is still in the family.

Otherwise, he works solo as a consultant.

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