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mufasaus
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What is the best business to invest in if you have $300.000.00 that has been saved for the past 20 years, tired of living overseas.
Thinking of buying laptops in bulk and selling low in volume. Already have some investment in stock, no longer interested in more stocks.
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father ab
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My dear, I have been in the Nigerian business for more than 20years. The business strategies to survive and thrive in nigeria include: * Make sure you diversify by all means. In this country, DIVERSIFICATION is the name of the game. Dont streamline your investment, while u specialize in your own field IT(?), try to get other TRUSTED specialists in their own areas to network with. Have u noticed why big names like Dangote, Adenuga, Jim Ovia, Pascal Dozie, Otedola, Obasanjo(yes) etc have divers areas of interests? You either diversify or you crucify your hard-earned inverstment.
*Beside that, the ability to manage people is a vital management skill in business the world over, but in the nigerian business terrain, that is the GREATEST management skill! You don't go far beyond your doorpost if you lack it. People management also include the ability to identify, recruit and KEEP reliable workforce.
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mufasaus
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Thanks father ab.
I have done a lot of business with family and friends and it is just difficult when you are not on the ground, everybody is looking for ways to swindle you. What I am looking for is some businesses where you deposit say #5mil to 10 and will get supply in bulk and can supply to retailers.
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oziomatv (m)
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My dear, I have been in the Nigerian business for more than 20years. The business strategies to survive and thrive in nigeria include: * Make sure you diversify by all means. In this country, DIVERSIFICATION is the name of the game. Dont streamline your investment, while u specialize in your own field IT(?), try to get other TRUSTED specialists in their own areas to network with. Have u noticed why big names like Dangote, Adenuga, Jim Ovia, Pascal Dozie, Otedola, Obasanjo(yes) etc have divers areas of interests? You either diversify or you crucify your hard-earned inverstment.
*Beside that, the ability to manage people is a vital management skill in business the world over, but in the nigerian business terrain, that is the GREATEST management skill! You don't go far beyond your doorpost if you lack it. People management also include the ability to identify, recruit and KEEP reliable workforce.
I realy cherrrrrish your advise, and it shows that you're a real father in the game. I'm a businessman also based in italy, I've been having these nightmare of relocating in nigeria due to don't know how thing are been run over there. the area I want to focus is wine bar,restuarant, disco bar, hotels areas. I don't know how to get things started. |
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father ab
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@Oziomatv,
10Q 4 your appreciation.
Concerning your area of business, I think if u want 2 kickstart in Nigeria, try to locate it/them where the market is. If u begin a wine/disco bar in a state where alcohol is an offence or u open a hotel where there are no tourism prospects, then your investment is truancated. Actually, one doesnt need 2 do what every other person is doing if you really want 2 make a difference. So you need not get worried or afraid of how things are run here. Maybe when u make your intentions known like where u want 2 site it, how big u want 2 start, etc then i can give a more relevant advice.
@mufasaus,
Why involve family and loved ones in business? There are negligible exceptional cases where friends and families can be trusted and entrusted with business, but usually, getting a reliable team of retailers who u directly oversee or indirectly oversee THROUGH a reliable major distributor will yield results.
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oldie (m)
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@poster
You need to come home to acclimatise and do some fact-finding for 3-6 months
You do not want to do these things by proxy
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