manie:


How old are you? What is your highest educational qualification?

am 14+ you can confirm that on www.techmoran.com . I have a junior waec cert only.

manie:


How old are you? What is your highest educational qualification?

@ elvis you have not answered this question.

@ Seun can we learn from you, what do you have to tell elvis?

elvis10ten: am 14+ you can confirm that on www.techmoran.com . I have a junior waec cert only.

You have the best asset, that is your age and your intellect make good use of these assets.

manie:

You have the best asset, that is your age and your intellect make good use of these assets.

HOW

@elvis,
tell us what you want to use the money for. Down to the last kobo.

.

elvis10ten: HOW

Learn how to make the best use of the assets. I think you need a mentor in your line of business, it won't be a bad idea if you decide to work for free for some time just to learn the valuable experience that money can not buy.

Considering your age, no investor will invest in your venture. may be in 7 years time when you are 21 they may be ready to deal with you.

AjanleKoko: @elvis,
tell us what you want to use the money for. Down to the last kobo.

1)PC => 48,000
2)BULK SMS => 60,000
3)ADVERTISING => 25,000
4)HIRE A DEVELOPER(optional) => 40,000-78,500.
5)GET A GRAPHICS/UI EXPERT => 20,000
THE REMAINING MONEY WILL BE USED IN THE RUNNING OF THE BUSINESS.

This thread has shown me that many Nigerians have not learned what it takes to succeed. To increase your likelihood of success in a venture, you have to have a heavy personal stake invested. That is what investors will look at before they commit their funds to you. They call it "having skin in the game" You want someone to give you money to start a business? Why not earn the money by laboring for it, selling your property or assets or committing your life savings to start that business?

That way, you have a heavy personal stake involved and investors will be more comfortable adding their funds to your stake. Its like the Igbo apprentice who labored for 7 to 10 years sweating for his master before been settled with a huge sum of money. You can bet that any business he invests that money into has a high chance of success. Why? because it'll most likely be the same line of business he apprenticed under for many years. Also, nobody dashed him that capital. He labored and sweated for years before he got that money so the chances that he will blow it is small.

Banks are not in the business of lending money to start-ups. They lend depositors money so they want to make sure that the risk they expose that money to is nil or at least bearable. To assuage them that you pose little risk, you have to show them a track record and structures that will make your business idea bankable. Many people don't understand this. A new business does not need bank loans. It is foolish to start a business with millions. The risk of failure is high.

Start with a few tens of thousand that you earned or someone was magnanimous to give you or borrow you. Any mistake you make (which you are bound to make) will only have consequences of a few thousand naira. Any mistakes with millions of naira invested will have bigger consequences. Demonstrate success and a track record with something small and grow it over time. Then approach banks and investors when you can show them your track record.

Who will give a man money to buy a luxury bus when he not even shown that he could handle an okada, Keke napep or Danfo. Baba Ijebu succeeds today because he started small and failed many times with little consequences. The Ibrus tried to out-muscle him by committing billions and using political patronage but they failed with colossal sums lost. I hope someone can explain why?

kalokalo: This thread has shown me that many Nigerians have not learned what it takes to succeed. To increase your likelihood of success in a venture, you have to have a heavy personal stake invested. That is what investors will look at before they commit their funds to you. They call it "having skin in the game" You want someone to give you money to start a business? Why not earn the money by laboring for it, selling your property or assets or committing your life savings to start that business?

That way, you have a heavy personal stake involved and investors will be more comfortable adding their funds to your stake. Its like the Igbo apprentice who labored for 7 to 10 years sweating for his master before been settled with a huge sum of money. You can bet that any business he invests that money into has a high chance of success. Why? because it'll most likely be the same line of business he apprenticed under for many years. Also, nobody dashed him that capital. He labored and sweated for years before he got that money so the chances that he will blow it is small.

Banks are not in the business of lending money to start-ups. They lend depositors money so they want to make sure that the risk they expose that money to is nil or at least bearable. To assuage them that you pose little risk, you have to show them a track record and structures that will make your business idea bankable. Many people don't understand this. A new business does not need bank loans. It is foolish to start a business with millions. The risk of failure is high.

Start with a few tens of thousand that you earned or someone was magnanimous to give you or borrow you. Any mistake you make (which you are bound to make) will only have consequences of a few thousand naira. Any mistakes with millions of naira invested will have bigger consequences. Demonstrate success and a track record with something small and grow it over time. Then approach banks and investors when you can show them your track record.

Who will give a man money to buy a luxury bus when he not even shown that he could handle an okada, Keke napep or Danfo. Baba Ijebu succeeds today because he started small and failed many times with little consequences. The Ibrus tried to out-muscle him by committing billions and using political patronage but they failed with colossal sums lost. I hope someone can explain why?

IT SEEMS YOU HAVE NOT BEEN FOLLOWING THIS THREAD, PLEASE READ THROUGH ALL POST AND THAT LINK I GAVE. I WONDER WHY NIGERIA CAN'T BE LIKE U.S.A WHERE INVESTORS INVEST IN A START-UP NO MATTER HOW SMALL THEY ARE. THEY ARE JUST BUSINESS MEN, NOT TECH ORIENTED THATS WHY. IF YOU READ THAT ESSAY YOU WILL GET MY POINT. THATS WHY NO SOUND GROWTH HERE. AM NOT EVEN SURE YOU CAN INVEST IN A START-UP. DO A RESEARCH(GOOGLE IS YOUR FRIEND). YOU ALL WAIT FOR SOMETHING TO BE BIG LIKE NAIRALAND, THEN YOU START ....

elvis10ten: 1)PC => 48,000
2)BULK SMS => 60,000
3)ADVERTISING => 20,000
4)HIRE A DEVELOPER(optional) => 20,000
THE REMAINING MONEY WILL BE KEPT FOR FUTURE EXPENSES.

The money is not that substantial open an account with the nearest micro finance bank. Or you get a soft loan from your church.

elvis10ten: 1)PC => 48,000
2)BULK SMS => 60,000
3)ADVERTISING => 20,000
4)HIRE A DEVELOPER(optional) => 20,000
THE REMAINING MONEY WILL BE KEPT FOR FUTURE EXPENSES.

Nice idea and like that you are detailed. But just a few thoughts.

1) Just to clarify that you are actually going to spend 150k initially and keep 100k for future expenses?
2) I am assuming the developer you are hiring is a fellow 14 year old because I am not certain you can get one for 20k but never say never though.
3) For advertising, get a family member or family friend to send out a BB broadcast campaign on your behalf with a download link to your application. At least if they cant give cash, they can help spread the word. And have no hard feelings towards them for not giving cash. You might end up not needing to spend that much on Bulk SMS.
4) Why do you need 60k for Bulk SMS? Just shed more light on that (Not criticism).
5) Am curious, what's the first platform you are aiming at after J2ME? Personally I would suggest an android app would be the next logical course given your Java proficiency.
6) Depending on your physical location, I might be able to help with a cheap laptop but you need to do more to convince me. Please post some screenshots (if possible) of your app including the console showing the user count.
7) Contrary to what someone else said on this thread, I dont think you are too young to produce a quality app. Passion, Trustworthiness, true technical skill and a clear head is all I need to see.

All the best in your endeavour.

kodewrita:

Nice idea and like that you are detailed. But just a few thoughts.

1) Just to clarify that you are actually going to spend 150k initially and keep 100k for future expenses?
2) I am assuming the developer you are hiring is a fellow 14 year old because I am not certain you can get one for 20k but never say never though.
3) For advertising, get a family member or family friend to send out a BB broadcast campaign on your behalf with a download link to your application. At least if they cant give cash, they can help spread the word. And have no hard feelings towards them for not giving cash. You might end up not needing to spend that much on Bulk SMS.
4) Why do you need 60k for Bulk SMS? Just shed more light on that (Not criticism).
5) Am curious, what's the first platform you are aiming at after J2ME? Personally I would suggest an android app would be the next logical course given your Java proficiency.
6) Depending on your physical location, I might be able to help with a cheap laptop but you need to do more to convince me. Please post some screenshots (if possible) of your app including the console showing the user count.
7) Contrary to what someone else said on this thread, I dont think you are too young to produce a quality app. Passion, Trustworthiness, true technical skill and a clear head is all I need to see.

All the best in your endeavour.

@ sir kodewrita the following are responses to your post according to how you list them:

1)YES. BUT THE THREE MOST IMPORTANT THINGS THERE IS TO GET A PC, TO PAY FOR THE BULK SMS AND TO OPEN AN ACCOUNT WITH A PAYMENT GATEWAY AND VERIFY IT(2CHECKOUT,CASHU,PAYZA,etc).
2)I DON'T KNOW OF ANY OTHER 14 YEAR OLD DEV. YOU ARE RIGHT ABOUT THE PRICE ISSUE. I GUESS I WILL DROP THAT AND LEARN ANDROID FIRST.
3)OK, THANKS. I WILL DO JUST THAT.
4)I WANT TO USE A UK BASED SMS PROVIDER BECAUSE I NEED QUALITY AND THATS THEIR MINIMUM. THE HIGHER THE AMOUNT THE HIGHER THE PROFIT.
5)YES, ANDROID IS THE NEXT PLATFORM.

kodewrita:

Nice idea and like that you are detailed. But just a few thoughts.

1) Just to clarify that you are actually going to spend 150k initially and keep 100k for future expenses?
2) I am assuming the developer you are hiring is a fellow 14 year old because I am not certain you can get one for 20k but never say never though.
3) For advertising, get a family member or family friend to send out a BB broadcast campaign on your behalf with a download link to your application. At least if they cant give cash, they can help spread the word. And have no hard feelings towards them for not giving cash. You might end up not needing to spend that much on Bulk SMS.
4) Why do you need 60k for Bulk SMS? Just shed more light on that (Not criticism).
5) Am curious, what's the first platform you are aiming at after J2ME? Personally I would suggest an android app would be the next logical course given your Java proficiency.
6) Depending on your physical location, I might be able to help with a cheap laptop but you need to do more to convince me. Please post some screenshots (if possible) of your app including the console showing the user count.
7) Contrary to what someone else said on this thread, I dont think you are too young to produce a quality app. Passion, Trustworthiness, true technical skill and a clear head is all I need to see.

All the best in your endeavour.

@ sir kodewrita the following are responses to your post according to how you list them:

1)YES. BUT THE THREE MOST IMPORTANT THINGS THERE IS TO GET A PC, TO PAY FOR THE BULK SMS AND TO OPEN AN ACCOUNT WITH A PAYMENT GATEWAY AND VERIFY IT(2CHECKOUT,CASHU,PAYZA,etc).
2)I DON'T KNOW OF ANY OTHER 14 YEAR OLD DEV. YOU ARE RIGHT ABOUT THE PRICE ISSUE. I GUESS I WILL DROP THAT AND LEARN ANDROID FIRST.
3)OK, THANKS. I WILL DO JUST THAT.
4)I WANT TO USE A UK BASED SMS PROVIDER BECAUSE I NEED QUALITY AND THATS THEIR MINIMUM. THE HIGHER THE AMOUNT THE HIGHER THE PROFIT.
5)YES, ANDROID IS THE NEXT PLATFORM.
6)I STAY IN PORT HARCOURT, RIVERS STATE. THE SCREEN SHOT THING, I DON'T REALLY KNOW MUCH ABOUT IT.

I'll be willing to give you a small netbook in exchange for successful completion of a very minor J2ME application.

Essentially a way for me to kill two birds with one stone ( verify your competence and give you seed cash ).

Send me a contact phone number through my nairaland profile, I might be in PH within the week and can contact you or link you with a friend.

Note: Completion of the J2ME microapp precedes giving you the netbook.

Do let me know if you find this agreeable.

Check your email.

Spoke with the guy who called you. And according to him, you said this is actually your first app ever and you coded it on a phone.

Well you'll still have to show that to me though.

Let's enjoy easter and I'll get back to you in a few days with specifications for a minor app I want to see.

All the best. In the meantime, you can try to take pictures of the interface of the application so I can see what it looks like.

And also post a link to the download site here.

Regards.

Would you be interested in registering a joint company with me, and we would be joint signatories to the account?
If yes, then we can work together,

@ kodewrita, yes, its actually my first app that has gone live. I have created many minor apps for my personnal use and also created minor games when i was 'experimentating' on j2me game api and other game features. I have another app that is about to go live but i created it for a friend of mine. I have already created the app but he hasn't done the server side part, so its still done the name is "Exam Mini" . The link to download Xmx Me is http://www.

bigx: Would you be interested in registering a joint company with me, and we would be joint signatories to the account?
If yes, then we can work together,

Lets talk through my email, elvis.chidera@gmail.com . This doesn't mean i have accepted this, i just want to know more what you mean.

I read your post. I want to know more about it. Can you text me details about yourself to 08079892449.

Nice thread

Kudos to elvis

-but note that the American investor did not make his money the way the the Nigerian investor made his

-note that even if you are talking to the same investor,He will consider that the markets are different

-investors from anywhere in the world would not view an American Start-up, the way they will view the Naija Start-up

One of the most elementary things in Business is creating a win-win situation for partners

Every party wants to know what's in it for them, investors are to give immediate Cash, you will have to offer a promise

Promises by a MINOR may require validation by Parent, are we looking in that direction?


Kudos to Manie, Kodewrita, Kalokalo & Co their contributions has added great value to the thread, I hope elvis learnt a thing or two from these


I am based in Lagos, I find this interesting, I am not a Techie, (just a Roadside Investor) but u will need to make the effort to track me down

Best of Luck

elvis10ten: In respect to the
above topic i sincerely
need an investor that can
invest in Xmx Me. Xmx Me
is a mobile application
that enable people to send
sms/bulk sms at 2 naira
with their mobile phone. We currently have only a j2me application, we plan on expanding to other platforms. We have been running for 5 months.
The website is
www. . We currently have 8293 members. Xmx Me has
some unique features,
more will be added after
the investment because
they need money to
implement. Some of the
features are: 1)It has a
light and easy to use ui. 2)
It uses little bandwidth
thereby minimizing
bandwidth cost. 3)It has a
phone book utility option
which allows mass selection
of numbers from the phone
book/contacts. 4)It has a
service page which is
dynamic and can offer
things like jokes, fixtures,
etc. We need the money to
expand to other platforms,
create a web app, expand
to other countries and to
implement our new ideas. The total expense will be 250,000. If
you are interested Contact
me through my
email: elvis.chidera@
gmail.com or post here.
Thanks

You said its and investment, what is the gain? %Anual return on investment + legals...and other benefits if there are any! Click2ny@yahoo.com

Elvis10ten i think you have an excellent project on hand and the responses coming in are spot on.

If you digest the suggestions so far made here, you will be very close to getting investors.

Do a little more homework, project you inflows and outflows, visualise your profit levels and make offers of what you expect investors to reap and how soon.

You should get offers soon.

Keep up the dream and the work.

laseni: I read your post. I want to know more about it. Can you text me details about yourself to 08079892449.

I WILL DO THAT TODAY.

oduz: Nice thread

Kudos to elvis

-but note that the American investor did not make his money the way the Nigerian investor made his

-note that even if you are talking to the same investor,He will consider that the markets are different

-investors from anywhere in the world would not view an American Start-up, the way they will view the Naija Start-up

One of the most elementary things in Business is creating a win-win situation for partners

Every party wants to know what's in it for them, investors are to give immediate Cash, you will have to offer a promise

Promises by a MINOR may require validation by Parent, are we looking in that direction?


Kudos to Manie, Kodewrita, Kalokalo & Co their contributions has added great value to the thread, I hope elvis learnt a thing or two from these


I am based in Lagos, I find this interesting, I am not a Techie, (just a Roadside Investor) but u will need to make the effort to track me down

Best of Luck

Ok. I am willing to give 15% to the investor. If you want validation from my parents, that can be arranged. Thanks for the response.

elvis10ten: Ok. I am willing to give 15% to the investor. If you want validation from my parents, that can be arranged. Thanks for the response.

15% for how much? What is the worth of the enterprise? How did you arrive at the value quoted for the enterprise.? Just curious.

chukwuwike2ny:
You said its and investment, what is the gain? %Anual return on investment + legals...and other benefits if there are any! Click2ny@yahoo.com

OK. WILL EMAIL YOU.

elvis10ten: Ok. I am willing to give 15% to the investor. If you want validation from my parents, that can be arranged. Thanks for the response.

OK, we can discuss further along this line, send details to me thro;

armedia007@yahoo.com