Hi Guys,

I have a friend who is working with one of the top oil firm in Nigeria, his current basic salary worth over N500k, recently he got an opportunity to start up a new business with the offer of N5million as the startup capital, would you advise him to quit his job?

Great response will be appreciated

Thanks

k

Hmmm and what type of business is that? What are the chances of... Thats what you should be asking.

What kind of business does he want to go into?

Does he have a consumer base already?

Does he need to hire people or lease out a location??

Does the business need special equipments/liscenses etc

So many questions to answer before you become an entrepreneur?

Before he leaves his current Job make sure that he has worked out a business plan and he should keep his contacts from previous Jobs before he quits incase he needs to come back.

When starting a new business, its better to start small and gradual than head long. 5million can be squandered. I feel he should invest instead of going all out to do business.

I'll think about it.

but meanwhile

5m looks small for one who earns 500k already to start up a biz

So your friend doesn't save?

No! With that pay, any bank will loan u that 5m. U can start ur biz n still keep ur job.

tsticks:
Hi Guys,

I have a friend who is working with one of the top oil firm in Nigeria, his current basic salary worth over N500k, recently he got an opportunity to start up a new business with the offer of N5million as the startup capital, would you advise him to quit his job?

Great response will be appreciated

Thanks

I will not entertain the thought of quitting