mecussey:


you lack self confidence and discipline. Why would u abandone your idea for another?

Don't let me insult u....he's saying he's learnt and u r castigating him....
Be a positive critic plz

obalolaunited:


I had to quote everything so that those that skipped this will actually go back to it... God bless you.

Thank you for the quote...I actually missed it and I am going back now

your biggest lesson here is never to trust nobody and also focus on 1 business at a time

Sunofgod:
Sorry......I lost the equivalent within 90 mins on Chelsea today,

But tomorrow is a new day.....chin-up!

Moral lesson: Next time, don't underrate Arsenal

OP I admire your resilience, but then its clear you lead your emotion cloud logical reasoning.
How can you take the funds of one who was to invest in palm and put in in a different business venture?.

Even if you wanted to switch to a new business venture, you shouldn't have dived in deep I.e invested heavily because you still are testing new waters.

You were told of the higher gain and you ignorantly Diverted all your palm oil viz to it, that's wrong!
You were still a fresher in the business , yet you invested like you were already an expert. I hope you learn from the comments.

In all, keep up at what you do. Your resilient spirit would take you places

Tublez well-done. Keep the hustle up and u'll prevail. If u want to buy cheap palm oil then u'll have to go across the border of ure in Lagos. If up North then buy from the Midwest and the east. Midwest being Edo/Delta. Also, most people that sell palm oil in Lagos markets add dye to it to improve its look and viscosity but this dye is cancerogenic. So it's best to create a brand that shows integrity, package, market and sell. You cannot buy palm oil without being physically present cos if the oil isn't well processed and preserved it will smell.

dominique:
Did you lose your capital to the palmoil or plantain biz?

did you even bother to read?

Posted on August 1, 2017

Failure is part of what builds you as a Young/ Start -up Agropreneur ,Remain focused and keep moving forward.

You have every right to fail or lose money as a
young/ start-up agropreneur but the most
important aspect is that, you must learn from your
mistakes and don’t allow the re-occurrence. I will
never preach or advise you that you will not fail even
when I know that failure is a step towards greatness.
How can you become successful without failure...


https://sehgatehub./2017/08/01/failure-is-part-of-what-builds-you-as-a-youngstart-up-agropreneur-remain-focused-and-keep-moving-forward/

Op, your headline is wrong. U did not lose your capital from palm oil business, but from plantain business. Best of lucks

xtervaganza:
did you even bother to read?

the question is right. The headline mention palm oil, but the body shows it's plantain he lost capital from

As a matter of fact,i have red oil direct from farm in benin republic and i have already crossed 1375 litres to nigeria side border. i'm just new in the business as i lives in benin republic. i need buyers though somebody have advised me to go to mushin or agbara and contact serious buyers. Any serious interested buyer should reach me on Chris +22996106852 OR 08146330762 for more details.

This topic is misleading.
You did not lose your money while doing palm oil business
You lost your money doing plantain business you know nothing about.
Palm oil business is very good and lucrative. greediness and ignorance pushed you to lose

Please I'm interested in the business

Oluwapresley:
In the last one week, I've read two very strong posts condemning salary earners and encouraging entrepreneurs/investors. In this one week also, I've also seen the amount of praises given to such write ups.
I also want to praise entrepreneurship! Yes, but constructively!

Its funny how everyone nowadays gives numbers and statistics on how entrepreneurs make millions monthly but won't say everything that entails those numbers.
My mother used to say; "at the end of every year, people see you sell Christmas chickens and they help you count all the money you are making from afar based on every customer that comes... But that's all they would ever know.. What comes in from afar"

That's the kind of picture people paint with almost everything. They paint from a far!

Of course, this call for entrepreneurship/investors is a very good call; however, they are called investors/entrepreneurs for a reason! You can't give what you don't have.
Or should I say you can't invest what you don't have!
But these posts have Sooooo condemned salary earners and painted sooo ugly a picture about salary earners that no one wants to be a salary earner. Which is a good thing actually but the resultant effect is a negative drive! Yes, a negative drive! People see the numbers you come up with..... I saw a post about a "danfo driver" who makes 1 million naira monthly..lol but the danfo driver never came out to say he makes 1 million naira monthly; our so-called clamourers for independence calculated his income for him..

This creates a negative drive.. That even those who don't have anything to offer start to say I want to be an entrepreneur.
Oh, or you think investing entails only money?
Investment entails a lot of things, man! From money to time, to knowledge, experience, the right people, luck etc. You can't give what you don't have. You can't invest what you don't have, if not, the result effect is failure!

Starting up something on your own requires sincerity! Are you ready for this?
They calculate how much u can make if u were alone..
But I also know a lot of business owners that have lost sooo much and committed suicide!
I know of guys that wasted all their money and time pursuing something for the wrong reason.

Investopedia says there is a difference between business owners and entrepreneurs. Not every business owner is an entrepreneur. There are differences and 1 of the difference is "innovativeness''.

If I happened to go back to my 100L days, I probably would Ace all my papers. If I go back to my primary school days, I probably wouldn't go to school at all and I will sit for exams and take the first position!
Why do u think this is so?
Its called growth!!

There are some guys that would go back to their primary school days and wouldn't still be able to pass their exams..

And there were some other guys that aced everything right from the start..

We need to understand that we are different.. You can't all go at the same pace. Some people need to grow. Grow in knowledge, wisdom, skills, abilities before they can actually do something.. If not, you are only Gonna fail and end up aving a negative mindset about starting up.

We need to realise that salary earners in that sense are also starting up something.. Its not always only about the salary. There are other ingredients you get even as a salary earner to be able to start up something..


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..

Gbam! U hit the nail on the head sir

op its the greed from the estimated profit from the plantain business that made you lose focus of your initial business idea. how did a colleague drag you into plantain business if you hadnt been much of a talker? always keep your business to yourself. you likely spoke to your friend about the palmoil business and he told you that it isnt as profitable as plantain and then roped you into huge loss.

My man you the great one. Dont leave entrepeneurship it task your brain and make you creative. Staying on a paid job is a comfort zone where you work according to mop any deviation attract sanction
When i was in the corporate world when company declared loss our salary are still paid.
But when my layer birds were dying in throves and i was loosing money i know what's is to be an entrepeneurship

dyemida:

Please interested in delving into the business. I would sure need your expertise and experience on it.
I would really appreciate it.
Thank you in anticipation.
07014548520

i can coach you. use these months to study your market, till February next year when palm oil price will come down

prettyboi1989:
op its the greed from the estimated profit from the plantain business that made you lose focus of your initial business idea. how did a colleague drag you into plantain business if you hadnt been much of a talker? always keep your business to yourself. you likely spoke to your friend about the palmoil business and he told you that it isnt as profitable as plantain and then roped you into huge loss.

He obviously did not read the "richest man in babylon". How can a palm oil seller not spend 100% of his time with other palm oil sellers.

Don't take advice from a bricklayer about an electricians job.

Op,you are about to make it,you are almost there. Don't give up! Such is life,don't let the fear of losing keep you away from trying all over again.

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

Reply my mail

Oluwapresley:
In the last one week, I've read two very strong posts condemning salary earners and encouraging entrepreneurs/investors. In this one week also, I've also seen the amount of praises given to such write ups.
I also want to praise entrepreneurship! Yes, but constructively!

Its funny how everyone nowadays gives numbers and statistics on how entrepreneurs make millions monthly but won't say everything that entails those numbers.
My mother used to say; "at the end of every year, people see you sell Christmas chickens and they help you count all the money you are making from afar based on every customer that comes... But that's all they would ever know.. What comes in from afar" come collect 1btc for this great piece!!

That's the kind of picture people paint with almost everything. They paint from a far!

Of course, this call for entrepreneurship/investors is a very good call; however, they are called investors/entrepreneurs for a reason! You can't give what you don't have.
Or should I say you can't invest what you don't have!
But these posts have Sooooo condemned salary earners and painted sooo ugly a picture about salary earners that no one wants to be a salary earner. Which is a good thing actually but the resultant effect is a negative drive! Yes, a negative drive! People see the numbers you come up with..... I saw a post about a "danfo driver" who makes 1 million naira monthly..lol but the danfo driver never came out to say he makes 1 million naira monthly; our so-called clamourers for independence calculated his income for him..

This creates a negative drive.. That even those who don't have anything to offer start to say I want to be an entrepreneur.
Oh, or you think investing entails only money?
Investment entails a lot of things, man! From money to time, to knowledge, experience, the right people, luck etc. You can't give what you don't have. You can't invest what you don't have, if not, the result effect is failure!

Starting up something on your own requires sincerity! Are you ready for this?
They calculate how much u can make if u were alone..
But I also know a lot of business owners that have lost sooo much and committed suicide!
I know of guys that wasted all their money and time pursuing something for the wrong reason.

Investopedia says there is a difference between business owners and entrepreneurs. Not every business owner is an entrepreneur. There are differences and 1 of the difference is "innovativeness''.

If I happened to go back to my 100L days, I probably would Ace all my papers. If I go back to my primary school days, I probably wouldn't go to school at all and I will sit for exams and take the first position!
Why do u think this is so?
Its called growth!!

There are some guys that would go back to their primary school days and wouldn't still be able to pass their exams..

And there were some other guys that aced everything right from the start..

We need to understand that we are different.. You can't all go at the same pace. Some people need to grow. Grow in knowledge, wisdom, skills, abilities before they can actually do something.. If not, you are only Gonna fail and end up aving a negative mindset about starting up.

We need to realise that salary earners in that sense are also starting up something.. Its not always only about the salary. There are other ingredients you get even as a salary earner to be able to start up something..


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..

come take chilled wine for this great piece

Rule number 1 always do it yourself.

Never ever trust someone else's money to someone else.

If that make sense.

menwongo:

i can coach you. use these months to study your narket, till febuary next year when palm oil price will come down

pls we need to talk.

Opelwonder:
Mehn u are so brilliant for this comment. Dats d same tin i told my friend. All ppl do is wish to b an entrepreneur as if it is d surest. Is okonjo iweala an entrepreneur, she isnt. Bt her life is perfect in a sense. Its ok to b a salary earner jor. Just boost ur cv so dt u cn get a good job. Some salary earners have better sleep than entrepreneurs

Good

cybeks:
[color=#000099][/color]






I want to be supplying it to clients, if possible, so I need to know the strategies of the business

nawa o......r u on whatsapp?

urbobo20:
op my case is not difference much difference from yours the only diff is that u have paid ur debt why am yet to pay me .
two months ago I took loan o80k on loan , held for north to buy raw food I put every thing on luxurious us on our way it got bad , then I have to do trans loading at another cost .when I get warri the market WOmen were pricing my Menlo and grand nut the amount I did not buy then after every thing thing I sold my goods the amount I bought them from Niger state I lost all my transport and other ex Spence a.

almost 40k I
I went to market again , some body now said I should but raw grand but . i didn't know that some are strong why other are yet to be strong .in fact I have lost every thing of whice I will paying 15k every month currently I have no joy I went to doing farm clearing for people yet the rain us just two much

it a pity man.........it hapns

It is not proper to take loan for a new businss. Loan is meant for expansion of an existing business. When you read abt a new business, they always tell you abt the upside and how you can make 100% ROI. This is th point whre people resign from their salary jobs thinking it'll be as easy as they said. If I met you earlier I would hav advised you to start with what you have. If you must borrow ; borrow from a relativ or friend (shld incase it doesn't work as plannd. Thy'll give you time to pay). When you hav traded for say 6 months and you are sure of ur profit margin then you can now be talking of loan. By then exprience would hav taught you some things and you would have learnt from your mistakes. And pls don't take too much loan. The fact that you have accss to 1m loan doesn't man you shld jump at it. Take a little abov ur own capital. Say 50%. Entrepreneurial spirit is a gift, not everyone has it. It requires time, patience and sometimes capital. Some are born leaders, while some are better followers.

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.

How can i contact you asap. tnx

adetayo234:


Moral lesson: Next time, don't underrate Arsenal

Pedro cause am.... arsenal are shiiteee,

Nma27:
[s]Lesson 5, Don't b greedy. Wonder d kinda devil that pushed u in plantain biz. Looks like the work of d witches in ur village. [/s]

mecussey:

[s]
you lack self confidence and discipline. Why would u abandone your idea for another?[/s]

do you really have to comment?