The new trends in business says that good businesses do not start wit money but with ideas.
raw fact however is that money is what makes the biz ideas to yeild the desired result.
now my question is, how can one pull these resources in a situation when he has a million naira idea with N0.00 in his pocket /account. what kinds of people and companys can one meet to raise funds and what mode of communication styles is best fit for success
Please, house,i need your help

i dont believe in having money before you can start a businness what you just need is an i deal and get poeple to suport your ideal before you know it you up their making your kool money , what i mean is network yourself with the people that has the money , they will suppport your ideal,

justicemek:

The new trends in business says that good businesses do not start wit money but with ideas.
raw fact however is that money is what makes the biz ideas to yeild the desired result.
now my question is, how can one pull these resources in a situation when he has a million naira idea with N0.00 in his pocket /account. what kinds of people and companys can one meet to raise funds and what mode of communication styles is best fit for success
Please, house,i need your help

Draw an outstanding business plan, prove to your bank that your business idea is worth investing on.

Banks like to invest in potentials as well you know, convince your bank with your theory and prove it by producing a detailed business plan written by you.

Prove to your bank that your business will not foldup in the next 6 to 12 months, if your proposal is good, your bank will loan you the capital for your business, although it is always a good idea to have some capital before you start thinking of business,as it shows your level of dedication towards the business!

A bank will loan you the money, if (a) You are credit worthy (b) you have an initial deposit towards your business yourself, (c) [/b]You have a smashing business plan. [b](a) and (b) not always necessary, but at the expense of higher APR.

Hope this helps!

Why not chec out one of the micro-finance banks around u. They jus mite help. Wish u all the best.

@ WEBJUNIOR

Do not forget that the poster said "WHEN U HAVE N0.00 IN UR ACCOUNT"
So how will one get loan from bank with N0.00 in account?

Families. Get a Loan from the bank.

Hi Justicemek,

You're only limited by your own imagination when it
comes to raising funds for your biz.

I know of more than 10 ways you can do this. I'm going
to share some with you. If you want more, attend the
forthcoming workshop on Saturday tagged how to start
a profitable home-based biz and make millions!

There I'll share 10 surefire ways to raise finance for your biz
without going to the bank! Check http://www.smartinfozone.com for
important details

No,here they are.

1. Venture Capitalists (VCs)

2, Co-operative societies

3. Your savings

4. Friends and families

5. Investment clubs

6. Life insurance

7. Social enterprises like Shell LifeWire

I want to stop here but I must say
everything is based on relationship and your Business Plan.

If you have further questions, ask me.

Sincerely,

Edwin A. Joel http://www.smartinfozone.com

Moneytree, where are thou? please i need your assistance, holla me -07028386858.
Thanx.

My brother dont forget our elementry economics that raising capital is one big problem in west africa.but my own believe is that you must start small no matter the size from there you can grow with it .Dump shame and your ego, oppurtunity abounds every where in nigeria.Is like you have never seen where a white is asked to leave nigeria, he weeps like a baby,why ?oppurtunities abounds everywhere .just ask God to open your eyes.

Hello dear,
i have gone through how to raise money for a business,and i fall a victim to such, my is not just a business, but a hospital, am an orthopedic doctor, treatment of any type of bone fracture and dislocation of bones as you can read on my profile https://www.nairaland.com/nigeria/action-profile, i have registered in Ministry of health, and got certificate and license to work in Lagos, presently i am working outdoors, but i need capital to get a place for orthopedic hospital and Jim center and other treatments, i will be admitting patients there, so if there is anybody who have any way to help in this case, or any advice to render, please should call me Dr nwachukwu obinna 08032301240,08054168086, thanks and God bless.

Where are all these people from talking about great ideas leading to everything. This is preposterous in Nigeria. Banks will not loan you jack if you do not have collateral!!! And you better watch out for the Banks themselves. They will steal your idea and go do it themselves. A particular big Bank in Nigeria is well known for doing that. If you guys really believe what you are saying then come help me raise $5.8 million for a great idea that will show each step of the way how there is security built in the finances each step of the way. It will also show that the product is in high demand and orders will be placed for at least 6 months worth of production by some companies.

The Nigerian business environment is more of a Dog-Eat-Dog one and if you don't have Capital or Collateral it is near impossible to grow. And then some people talk about starting small and growing slowly. This is a myth. Most successful business models in the United States start well funded with a huge growth expectation within a short period. This is what attracts venture capitalists who will buy into your business and provide the capital to get you where you want to go. Mom and Pop businesses tend to suck the rest of your life out of you. This however does not mean that investors do not want to see a track record, but most of our business principles in Nigeria are Archaic. If you look at the Major construction companies in Nigeria today, you wonder where they sprung out of to be doing the major projects that they have embarked on.

Personally, I would advice anyone who wants to get a Start-up going in Nigeria to have a clear idea of where his finances will come from before embarking on using a lot of his time pursuing the idea. I was recently reminded by a Nigerian Multi-millionaire (In any currency) that the best Ideas are usually found in the graveyard. The translation says it all.

The truth about a good business idea is that it might not need that much external sourcing as one would think. Depending on the nature of Business, whether it's a service or deals with goods, it should within it's own context, be able to avoid such high costs prior to delivery.
That's what actually makes it a good idea in the first place.
From my personal experience, no mattter how laudable your idea may seem, people somehow do not feel comfortable when you invite them to drive your business idea (financially) for you.
So when starting a business venture with zero naira, just like the many celebrated enterpreneurs of our days, include the aspects of driving it to a reasonable extent with as little costs as possible, prior to the client's financial intervention. Please feel free to call 07032034697 if you're faced with a challenge. We just might be able to drive that idea, with another idea.

I must say that I have really enjoyed myself reading the different views on this particular post.

Well, what I would like to contribute(which is agreement with most of the views) is that, you don't need money to start a business - what you need is a good idea properly put on paper.

What I'm saying is that, you must have a good business plan which can convince potential investors that your business idea is worth investing into.
You don't just need it on paper so that you can only convince investors, you need it so that you can run with the vision.
"Write the vision and make it plain" is a common saying.

I am an epitome of one that started business without a single kobo, but today my business has expanded.
Truly I must tell you, start small and finish big.

I also believe that you must be ready to invest into the business yourself - that will show how[list]
[li]that you are willing to follow your idea to the end[/li]
[li]prospective investors how serious you are[/li]
[/list]

Reach me on 07038466159 (24/7) if you'd need more advice on this issue or if you'd like to know how I started.
Who knows, you might just draw inspiration from our little chat.

To your success,

i would like to subcribe to the fact that having money is not actually the first thing in starting a business, first is a sound business idea and understanding the nityy-gritty of the business you intend going into. then second on the line is your abilty to network yourself with the people for their financial support.

i once posted a message on this same topic on how i was able to unleashed myself from this same similar situation. i would like to stop here. for further info on how you can go about raise money for your dream business, email me via surewaytosuccess@yahoo.com
best of luck

i would like to subcribe to the fact that having money is not actually the first thing in starting a business, first is a sound business idea and understanding the nityy-gritty of the business you intend going into. then second on the line is your abilty to network yourself with the people for their financial support.

i once posted a message on this same topic on how i was able to unleashed myself from this same similar situation. i would like to stop here. for further info on how you can go about raise money for your dream business, email me via surewaytosuccess@yahoo.com
best of luck

Solid idea is what you need to start a profitable business,

Shina

http://nextpublisher.com/list.html

could you help us to find electronics wholesellers in nigeria?Once deal done,you will earn commission;one you save enough money,you can start import from us directly;once you are powerful enought in the market,we will invite you to be our sole distributor,what do you think of it?

THANKS A MILLION.
YOUR OPINIONS ARE
WONDERFUL.