Please note that I'm not dictating our modus operandi, I'm just suggesting it
And my ideas are open to MAJOR modifications

Plus I'm not against zoning, zoning will be like branches not zoning

Lagos branch of xyz company, Benin branch, etc

Each branch must have Members!
Each branch must have a meeting point , or a shop if need be.
Each branch must have a register and good book keeping to be done by the branch head(who is a BOD)
Each branch must meet and form its members(just like lagos branch has done).
Each member shall state how much they are willing to put into the company Initial starting capital (ISC). From where their shares will be determined after collecting the total ISC.
Each member must show interests in desired posts.
Each member must know its not a zonal thing and he isn't in wizkids video where he is reping onitsha or kano.
Each member must provide necessary details, including house address, etc and be registered under a branch, from where his branch leader will register him into the company during the 1st board meeting in lagos, its from this meeting of all board of directors we would give all members generally their share % after calculations, its in this meeting we would introduce our laws, its in this meeting we would allocate posts to those who have shown interests. ETC
Marketers are to be formed under each branch, and registered as marketers too

I am telling ya!

there is something peculiar about folks of his nature. An easy going gentle man if you had the opportunity of meeting him.

The Fan Club, ride on buddy!

mikelreal: @funclub ua making plenty plenty sense...dunno if the people still postin diffrnt states after ur post read what you said.. your ideas re more like a foundation.. carry on

Please note that I'm not dictating our modus operandi, I'm just suggesting it
And my ideas are open to MAJOR modifications

Plus I'm not against zoning, zoning will be like branches not zoning

Lagos branch of xyz company, Benin branch, etc

Each branch must have Members!
Each branch must have a meeting point , or a shop if need be.
Each branch must have a register and good book keeping to be done by the branch head(who is a BOD)
Each branch must meet and form its members(just like lagos branch has done).
Each member shall state how much they are willing to put into the company Initial starting capital (ISC). From where their shares will be determined after collecting the total ISC.
Each member must show interests in desired posts.
Each member must know its not a zonal thing and he isn't in wizkids video where he is reping onitsha or kano.
Each member must provide necessary details, including house address, etc and be registered under a branch, from where his branch leader will register him into the company during the 1st board meeting in lagos, its from this meeting of all board of directors we would give all members generally their share % after calculations, its in this meeting we would introduce our laws, its in this meeting we would allocate posts to those who have shown interests. ETC
Marketers are to be formed under each branch, and registered as marketers too

the funclub enterprise: One thing that matters most in these senerio is the power tree!, who has power to do this and do that, number of individuals or partners, also sharing formula, share holding, and the most important is money!

So I have thought of this structure:

Lagos is going to be our capital (if we all agree) and branches will be scattered All over the country (hopefully in time over africa and so on).

Partners are to pay amounts ranging from 50-99k , or 100-500k.
Now this is the interesting part.
50-100k pArtners will be called minor share holders , and 100-500k will be called major share holders.
After total contribution, let's say total of 20 people come together after everything (just an example)
5 people brought 50k each (minor), 5 people 100k each (major), 5 people 200k (major) , 5 people 500k (major)

Now the company has a total capital of N4.25m. This is our initial capital from where we will deduce shares.

Now every member will have a certain percentage of share allocated to him, that is who paid 50k , we will find the percentage of 50k to 4.25m and that's his share . Below are examples

Partner A
50,000
Minor share holder
% owned : 1.176% of company

Partner K
500,000
Major share holder
%owned : 11.76% of company

Partner Z
80,000
Minor share holder
%owned : 1.88%

Now having known that company xyz is worth 4.25m naira, let's say we do business and after a month we gained N2m (after paying all our bills) .
Then the sharing formular is by your percentage of shares.

At the end of the month:

Partner A with 1.176% shares, get 1.176% of N2m which is N23520

Partner K with 11.76% shares get N235200

Partner Z with 1.88% shares gets N37600

I believe we are following?

Now to a very interesting part that will keep the company growing.

Whatever a person makes , 50% of it is retained by the company and added to its initial capital base (N4.25m). To make it clearer, when we make N2m(after paying all necessities) in this month, N1m is retained, and added to our capital, and its just N1m that is shared among share holders. Anyhow you calculate it, its the same thing, wether we deduct it after paying individually or before paying, its simple mathematics.

now this keeps our company growing every month, with our example here, the company just grew by N1m , making it now worth N5.25m in liquid cash!

To be continued

(Don't worry marketers I will soon bring you in)

. This is exactly what I was expecting the company to look like and I believe the zonal /state meetings are for members within that location to get to know each other and then work modalities on how to work with the Lagos people. My own little understanding of the matter.

the funclub enterprise: I believe the above was a good plan for partners and how the money tree goes.

Now every year will be what we will call a milestone, its only during the milestone week (a week in every year) that a minor partner can become a major partner, or one partner can terminate his indulgence, sell his shares (which will be calculated by the companies present worth, that is if the company now worths N10m, and he has 5% shares, he can sell his 500k to the company or a new individual), also once the company kicks off no more partners will be accepted, only during this mile stone week will a board meeting be called for at the headquarters where we will decide if a partner is to be accepted,also this new partner will be allocated a % of the company using the recent company worth, that is if he brings 500k when the company is worth N10, he only has 5% share, where as partner K who did so at the initial start is worth 11.76% if we recall. This ensures stability and secures the initial owners of the company from people who may just come up with very large amounts from nowhere.
This milestone week is when we will give yearly account records and all, its like the negotiation period of football.

Also if a partner sells his share to the company, the share will be shared equally among all members and he will be paid from company xyz's capital.

That is that for transfer of shares and new membership or termination.
Summary, it can only be done once in a year!,
If due to unforeseen events or misbehaviour of a partner he wants to be terminated before the contract ends, he will only be paid his initial share of the starting company amount (4.25m) instead of N10m the company's new worth.


Now I know marketers without capital will be wondering "this man no get plan for us ooo!" , you are a big part of the company please and we have plans for you.just restricted plans.

marketers will be treated as employees who will be paid on commission basis, if they sell a certain amount of goods they have a certain commission.
This will be decided by the board.
A marketer is in NO WAY a share holder, but they may find this motivating, if they sell goods up to a certain target (will be decided also), let's say N500k . The instantly are added to the shareholders with a decided percent of shares in the next milestone meeting.
Example: if marketer A sells tabs of N500k in a year, he becomes a shareholder with let's say 0.2% of shares
This means he will now me a floor shareholder and will partake in the sharing of our N2m gain, with 0.2% from the day of his addition, he is also subjected to more if he sells more! And can eventually own shares up to and not more than 5% (or can be adjusted if necessary).

Hope I'm making sense??

. Still following with full attention.

@2sexy I greet u

@all I'm a bit confused now, I don't know if to restrict number of people in each branch for a start or not so as to control crowd. Left to me I think we should.
10 people will achieve better results than 50 "wizkids" (no offence to wizkid).

So I think each branch should be restricted to 10people only , and lagos branch being headquarters can take 20 members.

By this I mean partners with money o! Who will have share % ownership of xyz company, marketers can be as many as possible.

Also I believe the structure of money to be contributed is fair enough? You can either be a minor or a major share holder.

(Also I forgot to add this in administration/power, so as not to give the BOD excess power, the major share holders must be informed off all informations/decision making done by the BOD's and are like the jury in the case of a state.
In this way they can checkmate the BOD's, and can be checkmated too by the disciplinary committee, who are checkmated also by the general members)

Back to focus, if we can control crowd, we can get the best of minds to raise xyz company!, and I believe N5m is more than enough to start us up big!. The beauty of the plan is that even if we start with N1m only! I bet you in no time our capital would have risen.

Then about external investors, these people will be treated as "external" as possible without interfering with company processes.
That is, the board will meet and decide how long the investment will be for and how they will benefit from us, if its by interest rates or whatever.
No one can invest and become a member, unless during milestones and all members have to agree before a new member can be aCcepted (I have treated this before)

We don't have to rush during the set up,left to me I will allocate 2 months or more to setting things up.

If all is done accordingly and we have 7 branches with 10 members each for example,
That means company xyz is owned by 70 partners with different % ownership!
Now let's assume we came up with N5m!

The final board meeting will be held, all members will attend this final meeting to get to know themselves, its in this meeting we would swear in people to their desired posts , before then the donated money will each be with different branch heads and this final meeting will be funded from our contributions by the BOD (I will like a grand meeting *winks* with projectors and refreshment in a conference hall and all , haba we are dangote's now , lagos go hear our name)
Back to reality.... This meeting we will discuss as one and know ourselves for the first time!, the next time we may all meet in person maybe during the milestone week after a year!

During the meeting , we would allocate funds for a shop in lagos! , funds for a web page , etc etc etc , and let's say what's left after funding the meeting and deducting all necessities will be N4m.
Its this N4m we will present to the account officers and we will declare our bank accounts open, then from there each departments start working and we procure our goods!

* we really need that webpage! , it will contain our new forum (sorry seun..lol), it will contain e-commerce where our goods will be displayed for sale like them jumia! , it will also contain info about us*

*we also need a lagos physical shop , for many reasons you may know*

Who knows soon we would be driving official cars too with xyz written on it


Please this and subsequent posts are now open to modifications and assessment.

And once we all agree , we start from forming our branches! Like oga survey cash who I assume is lagos head and already a member of the BOD has done

Let's do this!

Awesome work. God Bless the Team.
James Okun(Logistics)

surveycash: Firstly, I will like to say BIG thank you for all those that attended the August 4th Lagos meeting, especially those came all the way from Ibadan. Thanks for believing in the project. For those that could not make it, we totally understand.

The meeting was a huge success. Partners arrived in good time and we were able to extensively discuss and conclude after a lot of brainstorming with the highest degree of decorum displayed by all attending partners. The zeal to get something
started was the passion that kept the deliberations interesting and coordinated.

Introduction

The meeting started with appointment of Niiade as the secretary followed by the an opening prayer by Caxim04after. At the end of which, members got the opportunity to meet the personalities behind the ID. It was quite interesting and fun to finally unmask some IDs.


The Business

Without much ado, surveycash opened the discussion with a charge - The vision to build a company that will be reckoned with cheap products so that the masses could save more money and live better. Caxim04 stated the need for us to create trust and build a business empire together and not a small scale business, that trust and thinking is very important to the business we intend to create.

The discussion snowballed into suggestions for the product to go for. Some suggested tablets, powerbanks, mini-washing machine, Wristwatches and jewelery.

Semanose mentioned the importance security of funds. With this, it was salient that the business get incorporated to kickoff fully.

Incorporation

Different names were suggested for the incorporation. After so much deliberations, a name was born. It was agreed to register it as a business name to later change to a limited liability as the business grows.

Election

This was followed by nominations for acting officers of the JV.
The following departments were suggested:
I. Co-ordaintor : The head of the venture to handle administration and also QA/QC.
II. Treasurer: To handle cash dealing of ventures
III. Secretary: to handle mintues of the meetings
IV. P.R.O : to handle communication and programmes
V. Logistics: to handle distribution and general Logistics of the business ventures
VI. Financial Secretary: To handle records relating to the finance aspect of the joint venture.

After the election the various post were filled by elected candidates:

General Coordinator:Surveycash
Deputy Coordinator: Sessytonny

Treasurer:Semanose

Secretary: Niiade
Assistant Secretary:Jackson44

Financial Secretary: Caxim04
Assistant Financial Secretary:Niiade

P.R.O : Gbemmy
Assistant P.R.O: tapesz

Logistics: Bajugbajug
Assistants: Melojames, Manutd19, Colum


CONCLUSION:

It was agreed that a whatapps group should be created to ensure a steady movement of information and also aid in making decision online rather than having to meet everytime. An emergency purse for the JV was created and a monthly contribution of N1,000 per partner was agreed upon. It was also suggested that pioneering partner will make financial commitment of N100, 000. There will be monthly meeting also.

Surveycash called for adjournment of the meeting at 4.12pm which was supported by Melojames.

Wow, wow, wow. First of all, I must congratulate the first man that made importation simple for Nigerians in the person of Dr El-Mattew, I'm loyal. @ surveycash, I like the idea of the jv, I believe that in ten yrs from now, this idea will surely shake the country and beyond. @2sexy, longest time. @ fun club, I like the way you've arranged everything. I'm subscribing to your posts. Nice planning.. Please I would say I'm in this big time. For now, I base in owerri. Please add me up... Thanks

Karl, longest time brother... hope you are good?

karlxavier: Wow, wow, wow. First of all, I must congratulate the first man that made importation simple for Nigerians in the person of Dr El-Mattew, I'm loyal. @ surveycash, I like the idea of the jv, I believe that in ten yrs from now, this idea will surely shake the country and beyond. @2sexy, longest time. @ fun club, I like the way you've arranged everything. I'm subscribing to your posts. Nice planning.. Please I would say I'm in this big time. For now, I base in owerri. Please add me up... Thanks

The Fan Club, nice 3D thinking.

I know that feeling when you have an Idea and pen them down... And I know what it feels like. You must have had a long thought-provoking session this morning which wasn't easy or a waste.

Kudos, Bro.

Fanclub I am wit U 100%. Surveycash, U need to comment on this plz

kabsun: Fanclub I am wit U 100%. Surveycash, U need to comment on this plz

Structured capitalism is the way to go. Albeit' I am with him 55percent for now. The remaining 45percent I will reserve till I see detailed anaysis of what Adminstrative and other operational expense will look like.
Good thinking.......

@fun club, you av done excellently well. After modification or additions, I guess we start putn dis together to serve as constitution for opening of company's acc. nd name registration. nice write up once again! thumbs up.

Nice one funclub. Nice writeup. Lets hear what other thinks

Would like to be a partiner and share holder. I liv in abj so could not attend Any of the meetings. Plz do Update me onces plans is been made for the zoning/regional partnering executive inorder for pple outside lag to partake.

Still following with 3D projector

@steve10 location Zaria
@ib4ola location Kano
@zika130 location Kaduna
@9free location Jos
@kabsun location Bauchi
@ajibaby location Kaduna
@toluxa1 location Minna
@jonnaboy location kaduna
@zubbys location kaduna
@notindome location Kaduna

Finally we have the 10 people requied on Board. The day still remain Sunday 11th time 12noon promth. Venue will be comunicated via txt. but mine while we need someone to volunteer is office or hence we will have to go for a paid venue which is currently avaliable.

Funclub needs to start is own biz consulting firm. U av said it all. The main thing is implementation. I see dis biz kick starting in jan for easy implementation of that structute

I admire your all valuable contributions, suggestions and vivid analysis of how this Joint Venture should go. While it is essential to think, dream and plan BIG, let us not be too hasty to leave behind these old saying;;

"The Journey of a thousand miles, begins with just a step!

"Rome was NEVER built in a day" !

I still insist that we do a test run as put down on Page 7 of this thread, after which we can gradually grow with effectiveness from there.

Note: Every thing being said are all ON POINT, but a trial would only stand as a Pace Setter.

A small fall is better than a big fall oh. It is better to fall from a storey building and rise again than fall frm a 10storey building and die. Implementation of funclub idea is very complex to execute. I am sure he knows dat himself. D way accountants, lawyers, economists and biz administrators go abt executing a biz differs. I was just smiling when i saw my oga went abt analysing is figures. Forcasting a biz is on probabilities. Dis brings abt giving room for unfavourable biz deals dat may surface and find way of dealing with dem. Spending around 1million on logistics for a biz dat has nt gained ground is nt it. Ur idea is can be considered later wen d biz as fully settled down. All i am saying is late us nt take risks dat cant be handled. Thats y i lik cashflow biz. Its nt complex at all. Returns is guaranteed... anyway, i still love my naija coin doubled. Sessytony

I just hope U guys would buy the idea of Test Running this whole JV initiative, while meetings and deliberations are still ongoing.

The two Categories on Page 7 are still open, and deadline remains the same (21st August, 2013).

For those that have indicated what Category and Group they are interested, I hope U are all on Whatsapp or BBM when we begin Money Exchange etc, We shall be using ChrisVicMall for our shipping. They are cheaper and better.

Not forgetting the sole essence of a Joint Venture (JV).

What is JV?

According to Wikipedia, A joint venture (JV) is a business agreement in which the parties agree to develop, for a finite (limited) time.
With individuals, when two or more persons. come
together to form a temporary partnership for the
purpose of carrying out a particular project, such
partnership can also be called a joint venture where
the parties are " co-venturers".

JV is what spirals into a LLC or long term firm etc,
That was just for the records.

If we find only 3 or 4 persons at the end of the day, we would go on and execute a JV.

Test running is very essential in business,
If you look at the do it yourself thread you will see where I broke down on this topic to someone, its not excluded from my plan, just that what are you test running when you don't even have a modus operandi? No structure yet? You haven't even started, won't you gather the capital and set up the business before you can test run with a certain %? And then if it works you put all??

Infact what exactly are u test running? Is it the products? I don't think we need any product test running again. Left for someone like me I can beat my chest and say I have seen face to face 85% of ALL watches sold on AE (ask toluxa). I'm not against test running anything, but what do you want to test run? Is it the products to be bought? If its that I believe we should have that cover, if the ogas with tab, or power banks etc don't know what tab,powerbanks etc to buy and what sellers to buy from , what types , etc by now then they are completely worthless!!
I have guided not less than 15 people on this thread on what and not what to buy on AE as far as watches are concern!, and they all called back to give testimonies , so if its product test running I believe we have that covered.

But in general, after the whole set up, maybe we raised my example figure N5m, we can use 10% to test run or 20% before full implementation.


Also about saying the figures I called are big, I think they are small *smiles* if you are afraid to work with millions then the JV is nothing and I alone can be a competition to it if it can't run in millions, what differientiates you from an igbo man that pumps N1m into his own singular biz??
, plus N1m for logistics was an example too. It may be smaller , it may be more self! It doesn't matter as long as it appreciates the company and not depreciates it.
Do you think in this jet age we would go anywhere with out strong online presence??
Do you think people will take us serious without a good shop in a neat environment in lagos?
Etc

Also about risks, my fellow importers and future partners life is about risk, you walking out of your house is risky!
Business is risky face it!

One mind set I always use on investments is this, I take it as if I have given out the money.
The solution is this, if you are going to be part of this moving train, be ready for risks! Be ready to lost all your money! (Start with an amount you can lost ), be ready for challenges!, and if you are afraid of risks you can always start as a marketer or start small with 50,000

All my above post where models of what it should look like, its an imaginery model!
I don't think 5m is what a jv with tens of members should call "BIG" or too big to put in , we may even raise N20m! If you are afraid of N5m I wonder what kind of JV u want to run then and what impact you can make with few thousands of naira and almost 70 members.
if we are going to do this we have to be fearless and believe in our course? But also have exit strategies which can be taken if we fail. I will outline my ideas of exit later.

I'm not saying we should be careless. I never said so. Neither do I see any careless thing in the model I offered , if there is point it out and we would replace it together or modify it.

@ 2fishes I get what you mean about being careful, and we will try our best to be careful in all we do
@ sessytonny I don't think the model is complex, but whatever we decide, if its to start something small and grow big later no problem. But from what I offered we will surely hit limelight in nigeria in 2 years by Gods grace and hard work.

@ 2fishes 4 people? For real? 4!?
I wonder if they can compete with just me, where will 4 people go? I thought we were talking about being an household name? Like unilever, jumia, etc,
If that's the jv we are after I think I'm already doing that with toluxa and I don't even see the need for a thread.

@all
I thought we wanted something big? I guess I will have to sit and bring down my thinking to design something small, and that will operate in thosands or hundreds of thousands and will have a simple structure then.

^^^
Nobody is Test running products whatsoever. We should aim at test running the execution of the JV, which is tantamount to taking a step and further expansion.

@Sessytony is correct with his above post. Better to fall from a a storey building and be alive, than to fall from a 25 storey biulding and die.
The message is quite clear.

Business is a game, how do I know its a game, cos its all a struggle for money. Both the rich, poor, stupid, wise are all involved in this game of money and nobody wishes to loose out!

We are on r same page, i also think d way u do
From d way u speak, it seems u did magt or strategy in sch. Dat aside, all i am saying is been careful
There are some people dat will b inputing thier life saving in d biz. Starting with huge capital without fully in use is bad for biz. Wats d essence of capital without creating an opportunity or mkt. I hate capital or merchandize lying fallow for too long a time. D major issue is getting market and mt capital
Capital will surely come no matter d amount needed

Lets go for a structure dat we can handle with resources on ground and expand frm there. Am sure u kniw a child needs to craw 1st before thinking of running. I am totally against buy and split. Ur opinion will b of great use in d future. No joint venture started big. Most biz failed at inception but used d experience dat caused d fall to re-establish again. IF U WANT TO FALL, DONT FALL BIG. U wont try tell me ur first attempt on biz was a success

Please where are the kwara importers let meet oh.

the funclub enterprise: @ 2fishes I get what you mean about being careful, and we will try our best to be careful in all we do
@ sessytonny I don't think the model is complex, but whatever we decide, if its to start something small and grow big later no problem. But from what I offered we will surely hit limelight in nigeria in 2 years by Gods grace and hard work.

@ 2fishes 4 people? For real? 4!?
I wonder if they can compete with just me, where will 4 people go? I thought we were talking about being an household name? Like unilever, jumia, etc,
If that's the jv we are after I think I'm already doing that with toluxa and I don't even see the need for a thread.

@all
I thought we wanted something big? I guess I will have to sit and bring down my thinking to design something small, and that will operate in thosands or hundreds of thousands and will have a simple structure then.

my oga.u just said it all,I wonder the kind of JV will are trying to create.when will have a lot of wizkid in the house,when I first heard the ideal of JV.I thought it something,like 10people of like mind,who can raised aleast 300k per each members.ranging the sum of 3m,to my surprise with the sum 100k.people are still,bringing one suggestion or other to pull back.the simple logic stated by funclub,can also help us in executing of plans$profit sharing formula.it not compulsory will all be part of the board of directors,if u are financially handicap now.who said u can't be part of the JV group,u can start as a marketer just like W̶̲̥̅̊ª†̥ funclub said earlier on.then u grow from there,I bet you with hard work u shall surely be there. Just my own view,I stand to be corrected if I Ħª√ę hurt anyone with my little opinion.

LIST OF PORT-HARCOURT MEMBERS: hunda. joy (adikij). bumi. princeuk21. Am kicking a meeting on the 15 of august 2013 for the members of the JV portharcourt branch for more info contact me and also send me your name and nairaland nick name on 07012228485. Thanks please if you should be on the list and you are not please send your ID (You can also add your Location) to 07012228485 via SMS. Thanks

[quote
author=princeuk21] LIST OF PORT-HARCOURT MEMBERS: hunda. joy (adikij).
bumi. princeuk21. Am kicking a meeting on the 15 of august 2013 for
the members of the JV portharcourt branch for more info contact me and
also send me your name and nairaland nick name on 07012228485. Thanks
please if you should be on the list and you are not please send your ID
(You can also add your Location) to 07012228485 via SMS. Thanks[/quote]











@ prince, i sent u a txt pls acknowledge receipt. thanks

I think you people should change the name "fun club" to something more corporate and serious, that name doesnt depict seriousness at all. Are u people coming to catch fun in a club

Truth is i don't see why we can't implement funclub's strategy. It just needs proper planning.