Like in my previous article and the subsequent ones I will write, I will always say that in this economic crisis that we are currently facing in our country Nigeria, business investment is the best way to live comfortably and I’m not talking about the kind of investment that only brings three square meals to your table daily, I am talking about the kind of one that you will even have more than enough to start a new investment.
Previously also, I have written loads of businesses that one can go into without any sweat, they were not written from personal thoughts, rather they were written as a result of research taken over the years. Some of them requires very low capital to start up while some others requires a whole lot of money to start.
Today I will be writing about a very interesting topic, one that so many people going into investment or those fully into it fall victim of in this present days. That is ‘when investment becomes sin-vestment’. You may be a little confused about the term sin-vestment, well, let your mind be at rest.
We are all familiar with the term investment. Investment means different things to different people, I did an interview involving several people asking what investment mean to them and each and every one of them had a lot of things to them. To me, investment is simply placing a certain amount of money hoping to have more money in the future that is capital + profit. Any investment that doesn’t have profit is bad investment and can be as a result of sin-vestment.
WHAT IS SIN-VESTMENT?
Sin-vestment is simply a term used when one is not investing right. Many are victims of this, but don’t even know that they are doing that. But I will show you some sin-vestment, so if you want to start a business investment or you are running one, you can easily stop it or avoid it.
5 SIN-VESTMENTS THAT ONE SHOULD TAKE NOTE OF
1. INVESTING IN THE WRONG BUSINESS: This is very common especially to new investors, many people invest in the wrong type of business, they enter into such business because they ‘feel’ it is lucrative when they watch it from afar or they see people like dangote succeeding in sugar business and boom, they also want to jump into such. This may work for some people as investment, but may not work for others. Also what I mean by ‘wrong business’ is that business that you think is for you, but cannot be run by you, because you know almost nothing about it.
How can you get out of this? The only way one can get out of this sin-vestment is by doing what you are passionate about, invest in what you want to see. You shouldn’t invest in fish farming business as a new investor without knowing anything about it (you might do it later), but first do what you love and what you are passionate about, then as you are doing that, you can start developing your skill in the other business, find out vital information about the business and groom yourself in it. Once that is completed, you can now invest in the business. This is because while developing your skills on the business and finding vital information about it, the passion for such business comes naturally and with so much joy you would invest in it. But note that if after sometime of that and you don’t still find anything nice in it (not talking about the profit alone though), then you should totally quit.

2. INVESTING IN THE WRONG PLACE: The place you place your investment matters very well, like in this present days, you can’t say you would start buying shares and other stocks, your money would only get stuck if that is done. But the place I mean majorly is the location, like when I wrote about ‘starting a lucrative cyber café business in Nigeria’, I made mention that if you locate you café in a place where nobody knows it is there, you will end up finishing your own data and that won’t be nice, doesn’t go for only café, other businesses too. Like land, land can be very very lucrative when you invest properly in it. You can’t invest in a land that is deep into the bush and the period that the place would get developed is the next 20 to 30 years in a fast track investment, lest you would only use the returns during your retirement.

3. NOT THINKING INNOVATION: The major cause why businesses growing at first later have a very big plunge downward is because of lack of innovation. Innovation goes a long way in the development or maintenance of any business in the fact that it keeps you in the business and it makes you a step ahead of your competitors. When some people go into business they usually don’t consider this. Just imagine you are running a dry cleaning business in your area probably and you have been running it for quite some time, later you found out that you are not the only one doing it in your area, there are like five other people doing the same dry cleaning business. The only way to live above that is to innovate. You may decide to transport their clothes to their houses instead of allowing them to come down to your place to collect it, or you look for another way to make your dry cleaning process much faster. And another thing innovation does for you apart from keeping you in business is to maintain your customers. So try to innovate in any business you find yourself, so that you won’t sin-vest.

Read more @ http://www.sundayjoe.com/2017/05/when-investment-becomes-sin-vestment.html

cool.

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