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I Have Been Sacked But I Have N1.5m - Career (1) - Nairaland

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Re: I Have Been Sacked But I Have N1.5m by ayox2003: 3:50pm On Apr 30, 2012
ismhab: You should go and share it to the needy.
did you type this with ur fingers or with ur balls?
Seun just created www.nairalandfools.com for you.
OP, meritgoal's advice makes a whole lot of sense after your feasibility studies.
Re: I Have Been Sacked But I Have N1.5m by Maisuya1: 3:53pm On Apr 30, 2012
Op I feel you. I worked with 2 top banks in this country b4 I left and became a lecturer at the department of entrepreneurship and business studies at a federal university. Now from the breif details you've provided I have deducted that
1. You are mid aged chap who require a safe investment. Note that anything you invest in now should be highly liquid (to support you personal and family needs) and also provide capital gains (other wise if your savings get impaired you are as good as dead without a new job)
2. Your previuos network from the job are still in place, this is an asset for any business, as they could serve as your first line of contact.

Now entrepreneurs are not born they are made, and in your case you have close to zero experience in it. There is no silver Stroke to success, and this is even more so for an entrepreneur who's middle name is risk! But here are some general guidelines to help you make a decision.

For any biz idea to succeed it must meet an opportunity ie any idea without an opportunity or even before or after it's opportunity is as good as a failure. SO OBSERVE TRENDS ARROUND YOU FOR OPPORTUNITIES. More specifically you will find opportunities by observing
Social trends
Demographic trends
Technological trends etc
The idea is to find an opportunity and present a matching biz idea.


Secondly any biz you go into must do these three things. Generate revenue, make profit and provide free cash (because you have no job at the moment, there is no compromise on any of these 3)

Finally start searching for a new job, given your background, experience and certification, you should hopefully be able to get a new job.

PS. I saw this today in my department you who knows it might help, especially since you are in ABJ.
"competency based economies through the formation of enterprise (CEFE) @ FUT minna, is organising a one week intensive, innovative and fun filled entrepreneurship training titled BE YOUR OWN BOSS. The reg fee I think is just N 2500. And you can get to discuss further with expert.
Although am not part of CEFE one of the areas I specialise in entrepreneurial financing and financial management. If you decide to make (WHICH IS NOT A MUST)may be we can meet and discuss further.
Nonetheless good luck in what ever you decide

3 Likes

Re: I Have Been Sacked But I Have N1.5m by kayceshow(m): 3:55pm On Apr 30, 2012
Why cant u try farming like poultry or fish pond. bt u must consult expert first

1 Like

 
Re: I Have Been Sacked But I Have N1.5m by yuzedo: 3:55pm On Apr 30, 2012
Sorry about your "temporary" loss of livelihood.
That said, your best bet with that money'd be dashing it to your pastor to fuel his jet. . Especially if it is Pastor Chris! wink tongue

1 Like

Re: I Have Been Sacked But I Have N1.5m by Muttex(m): 4:00pm On Apr 30, 2012
Scam Alert....Seun dont allow this fool to defraud pple here all the name of Unemployment....Please delete this useless promoting scams call yeye Hotel.... Ole Thief

1 Like

Re: I Have Been Sacked But I Have N1.5m by Dreamflyin(m): 4:00pm On Apr 30, 2012
bro, my 4st advice is 2 cut dwn on ur standard of living, possibly find somewhere cheaper cos d biggst xpense nw is ur rent n family upkeep. Par biz level, go dwn ur rank, dnt b shy, u'll see a small time money spinner on a daily earning. Start small, dnt start big.

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Re: I Have Been Sacked But I Have N1.5m by Leadn(m): 4:05pm On Apr 30, 2012
ismhab: You should go and share it to the needy.

I bet you'll do same smh angry... silly fellas
Re: I Have Been Sacked But I Have N1.5m by bomega4u(m): 4:07pm On Apr 30, 2012
Claracuzio: Since u claim to have marketed for a bank, u should have good hussling skills. Here is my blueprint for you.
I credit you for saving 1.5m.
Purchase a Volkswagen Sharan__750k
Register it at a national motorpark and buy 4 brand new tyres and get all the necessary papers--100k
Sub total__850k
You can ply any long distance you wish, abuja-lokoja, okene, ekiti, ibadan, Lagos, kaduna... The choice is yours
Use the profit from this to maintain ur family.
You should still have a balance of 650k
Rent a shop for ur wife and set her up to the tune of 450k
Leave the remaining balance for emmergencies. Insist that all sales from the shop go back into the business.
Aftre 1-2 yrs sell of the volkswagen you should have developed a good business mentality by then and you can start travelling to dubai/china for purchase and sales.
Swallow that pride and do somthing else that 1.5 will finish before u knoww it and nobody is willing to borrow anybody money to start any business.
Good Luck and God bless
God bless you for that advice.
Re: I Have Been Sacked But I Have N1.5m by Leadn(m): 4:07pm On Apr 30, 2012
Dreamflyin: bro, my 4st advice is 2 cut dwn on ur standard of living, possibly find somewhere cheaper cos d biggst xpense nw is ur rent n family upkeep. Par biz level, go dwn ur rank, dnt b shy, u'll see a small time money spinner on a daily earning. Start small, dnt start big.


Well said... Mr Banker, start something small, and maybe yu'll become the next Bill Gates or Carlos Slim Helu grin
Re: I Have Been Sacked But I Have N1.5m by NAJALYN: 4:18pm On Apr 30, 2012
@Poster be extreemly careful in taking a decision. Invest a big chunk of your money into a reliable bank. Give something to your wife to expand her business. Seek employment in an accounting firm. This is important because as an ICAN holder, you must work and gain experience in your profession, before ICAN will grant you license to practice as an accountant. While you are working, you are earning some money. If you dont like this option, invest in products that are in high demand e.g recharge cards, mobile phones & accessories, food, etc. With prudent management of funds, you must succeed.

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Re: I Have Been Sacked But I Have N1.5m by lexy91: 4:19pm On Apr 30, 2012
Bros, i am sorry, which tribe a you?, i believe you have your tribal people and the likes around you.
My advise, start a nice resturant in your area to be jointly manage by you and your wife.

N1.5m , is a small money when nothing is coming in. Quickly start something like resturant.
You are sure of the daily meal from there. Manager it with your wife for a while and see what will happen.
As a chartered accountant, work will come, but who knows when.cheer!
Re: I Have Been Sacked But I Have N1.5m by yomalex(m): 4:27pm On Apr 30, 2012
While you are thinking of what to do, please i am begging you reduce your standard of living.

2 Likes

Re: I Have Been Sacked But I Have N1.5m by homebucks: 4:29pm On Apr 30, 2012
I realy appreciate every contribution. God bless you all.
Re: I Have Been Sacked But I Have N1.5m by maclatunji: 4:29pm On Apr 30, 2012
I always advise people to run a business centre. People must type documents and make photocopies everyday. Then you can use the extra space as your office for other businesses. You can also lecture ICAN candidates part-time, I am sure you haven't forgotten all of those subjects. grin

1 Like

Re: I Have Been Sacked But I Have N1.5m by jsheng: 4:30pm On Apr 30, 2012
@ Poster, look for a space around were you live and setup a viewing centre where pple can watch football matches, imagine you charge N100 per head and you av 50pple watching football, calculate how much you will earn for just 2hrs. Good business for good people like me
Re: I Have Been Sacked But I Have N1.5m by bobby56: 4:57pm On Apr 30, 2012
I will advice you to invest in Transportation Business: you can buy a Motor-Cycle or a Bus and rent it out to a trust-worthy person to deliver returns on a DAILY basis. NOTE, ON A DAILY BASIS. While this is on, you can then look for another employment with your ICAN Certificate (especially in an Audit Firm) to gain experience on which business to invest in and how to manage such business. For more information on how to run a Transport Business, you can contact me on 08130216825. It's a CANDID advice because I was once a Bank Staff, too.
I could have also advice you to invest in Pure Water Business, but it may consume everything you have at once and may not even be enough. My Brother, when we see, we'll talk better.
Re: I Have Been Sacked But I Have N1.5m by free2ryhme: 5:13pm On Apr 30, 2012
home-bucks:
gud dayy house, I need an urgent advice. I have been relieved of my job in a bank just last week but my savings plus my entitlement sums to 1.5m. I served as a marketer for yrs. I have an ICAN cerificate. Am married with 2 kids. My wife does petty biz of baking. We live in Abuja. It came somehow as a shock but i have put it behind me. Should i start a busines? If yes i have no business idea. Pls house, advice me.

Please dash me
Re: I Have Been Sacked But I Have N1.5m by polokor60(m): 5:15pm On Apr 30, 2012
Claracuzio: Since u claim to have marketed for a bank, u should have good hussling skills. Here is my blueprint for you.
I credit you for saving 1.5m.
Purchase a Volkswagen Sharan__750k
Register it at a national motorpark and buy 4 brand new tyres and get all the necessary papers--100k
Sub total__850k
You can ply any long distance you wish, abuja-lokoja, okene, ekiti, ibadan, Lagos, kaduna... The choice is yours
Use the profit from this to maintain ur family.
You should still have a balance of 650k
Rent a shop for ur wife and set her up to the tune of 450k
Leave the remaining balance for emmergencies. Insist that all sales from the shop go back into the business.
Aftre 1-2 yrs sell of the volkswagen you should have developed a good business mentality by then and you can start travelling to dubai/china for purchase and sales.
Swallow that pride and do somthing else that 1.5 will finish before u knoww it and nobody is willing to borrow anybody money to start any business.
Good Luck and God bless
op this idea is something you will make good profit from if only you can swallow your pride.all the best
Re: I Have Been Sacked But I Have N1.5m by Omexonomy: 5:20pm On Apr 30, 2012
Meritgoal: @ poster my simple advice for you is just this! * Do not put all your eggs in a basket, you can buy a concrete mixer and give it out for rentage to building contractors ,0ne should be arround #220,000-#250,000 but you need to be sure of the availability of the users. You can actually make #10,000-#15,000 on a daily bases for the agreed period with the user. And you can take your time, to think of another good way of investing the remaining money.
I tried it it work but i made the mistake of buying a second one
Re: I Have Been Sacked But I Have N1.5m by ojabel(m): 5:33pm On Apr 30, 2012
The business environment in Nigeria is not as friendly as you might think. I think what you need is something you can do with little resources (#160k) from your home without any further investment or overhead as you look out for job opportunity ( because that's what you're use to). But what I will show you can change your perception about this job thing. Call/sms me on 08023599385 for me to show you what helped me 2yrs ago when I was in this same situation.The business environment in Nigeria is not as friendly as you might think. I think what you need is something you can do with little resources (#160k) from your home without any further investment or overhead as you look out for job opportunity ( because that's what you're use to). But what I will show you can change your perception about this job thing. Call/sms me on 08023599385 for me to show you what helped me 2yrs ago when I was in this same situation.The business environment in Nigeria is not as friendly as you might think. I think what you need is something you can do with little resources (#160k) from your home without any further investment or overhead as you look out for job opportunity ( because that's what you're use to). But what I will show you can change your perception about this job thing. Call/sms me on 08023599385 for me to show you what helped me 2yrs ago when I was in this same situation.
Re: I Have Been Sacked But I Have N1.5m by ndidibabe(f): 5:35pm On Apr 30, 2012
Okija_juju: @ O.P

Here are a list of things you can do with 1.5 million with guatranteed return with 150%interest with a short period.

1. Play Pool

2. Baba Ijebu

3. Invest in rechagre Card

4. Lotto


For more info. . .

Contact me on Okija.juju@gmail.com
badt guy!
Re: I Have Been Sacked But I Have N1.5m by doctokwus: 5:44pm On Apr 30, 2012
chipmunkey: THIS IS ONE THING I HATE ABOUT PAID EMPLOYMENT AS COMPARED TO SELF EMPLOYMENT.NOTHING COMPARES TO THE JOB SECURITY THAT COMES WITH IT.
Job security is relative;leaving d house everyday to go to an office owned by you without being sure of how much income u wud make dat day,if any,is not job security by anybody's definition.So paid or self employed,there are risks,its for one to always think ahead,save or invest when d income is there,work hard& hope for d best.
Re: I Have Been Sacked But I Have N1.5m by meetmeonline: 5:46pm On Apr 30, 2012
It is very simple. Look inward!

your wife is into bakery, you've experience in marketing and I guess you educated.

1.Do a research on the trends of the modern bakery business (I always use what works in India now to know what will work in Nigeria in few years time you could do that too)

2. Develop a brand and inject a little pay into it first, then watch and keep injecting. Your wife already has the starter spirit, you bring in the innovative and marketing spirit into it

3. Then PUSH! PUSH!! PUSH!!! the market open and your capital base



The truth is that the whole family my cut tummies now till things get better




But I am so optimistic you will pick-up in near time and (as you know), this will be for life!
Re: I Have Been Sacked But I Have N1.5m by peclint: 5:47pm On Apr 30, 2012
I like the idea of the cement mixer rental.
If guys who are into the construction business can reiterate on this , it might be helpful to him
And as a marketer, he can market his product at various construction sites, charging a less fee than established firm, in that way he climbs into the the system
Re: I Have Been Sacked But I Have N1.5m by Acelifted: 5:49pm On Apr 30, 2012
Meritgoal: @ poster my simple advice for you is just this! * Do not put all your eggs in a basket, you can buy a concrete mixer and give it out for rentage to building contractors ,0ne should be arround #220,000-#250,000 but you need to be sure of the availability of the users. You can actually make #10,000-#15,000 on a daily bases for the agreed period with the user. And you can take your time, to think of another good way of investing the remaining money.

Good one. Simple, down to earth and genuine. Thank you.
Re: I Have Been Sacked But I Have N1.5m by Acelifted: 5:53pm On Apr 30, 2012
@ poster...If you cant arrive at a decision immediately, pls quickly go and fix it in a good bank before it disappears! You can also google fund managers in Nigeria and explore those options.
Re: I Have Been Sacked But I Have N1.5m by varies1: 6:02pm On Apr 30, 2012
home-bucks:
gud dayy house, I need an urgent advice. I have been relieved of my job in a bank just last week but my savings plus my entitlement sums to 1.5m. I served as a marketer for yrs. I have an ICAN cerificate. Am married with 2 kids. My wife does petty biz of baking. We live in Abuja. It came somehow as a shock but i have put it behind me. Should i start a busines? If yes i have no business idea. Pls house, advice me.


Since you were a marketer in the bank. Why don't you leverage on that? Act as a consultant to start up or declining businesses whichever. Work on their business , marketing plans, prepare the, for soft loans from your contacts in the bank etc... If you dont have that experience, then you have to train. Go to a school like Lagos Business School take their one to 3month business should be between 150-300k. programs or better still check online for accredited programs. Don't go into buying and selling yet. Especially if the business skills aren't there yet. I went to LBS. Can put you through. Cheers!!!
Re: I Have Been Sacked But I Have N1.5m by dailynigerian: 6:06pm On Apr 30, 2012
Interesting
Re: I Have Been Sacked But I Have N1.5m by Koleman(m): 6:09pm On Apr 30, 2012
@Meritgold you get sense o. I don learn o. Tanks. Mr poster you don hear ba?
Re: I Have Been Sacked But I Have N1.5m by greatlee: 6:11pm On Apr 30, 2012
Buy a taxi of 500k and start operating cab business in abj. A drop is about 500 naira upwards, bank 1M and use the proceeds from the taxi to run your family till u get a good job. I know u'll surely get one with your experience and rich cv. Goodluck

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