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How To Identify And Start Profitable Business In Nigeria - Business - Nairaland

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How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 9:42am On May 16, 2018
Nigeria is a blessed country,not because of the abundant resources but because so many untapped opportunities abound which we walk-by everyday without even exploring them.


Before you get started, you need to consider some factors

First, your financial capability

When me and my wife want to start an agribusiness,many years ago, we sat down and do some maths about our financial ability to sustain the business.
Although we wish to start big but our finances then was saying otherwise,
nonetheless, we still keep the bigger picture in perspective and work daily toward it.

Trust me, to start a business is easy but to get it running is hectic.




We have some profitable agribusiness you can invest in. Plantain investment is one of them. You can check some of my articles on that

If you want to invest in our plantain farm estate,you can contact me on +2348164628081 as well.

You can as well follow me on my page www.facebook.com/waleagro



Modified:
Myself and some of the successful, prominent agroprenuers in Nigeria just started a free online mentoring programme.

I can guarantee you success in any agribusiness venture you launch within 4 months of participating in this mentorship.
it will save you a lot of stress, increase your success rate as we share our experiences,challenges and how to overcome them and make tons of money in agribusiness.

Kindly register using the link below
https://docs.google.com/forms/d/1ig5vI2AuEgrrcKU-3i_tQz4dfjVuaIAbLdFpcDw30_g

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 10:19am On May 16, 2018
Before I start any business, I consider the various business opportunities before me and pass them through a test.

First, When is it likely to break-even and can it generate positive cash flow for decades with minimum input after setup?

2 Likes

Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 2:29pm On May 16, 2018
Any business that can't continue to generate money for you without your minimum input is not a business, it is a job.

if you have a paying customers of say 100 in your first year of business, you should create a system that generate 1000 clients without your input

I will expansiate on this later on using my experience

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 1:13am On May 17, 2018
Secondly, can the business grow at a faster rate.
is it scalable for profit?



https://www.youtube.com/watch?v=deFYFdHcMFk
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 10:22am On May 17, 2018
Good morning people. I will be back later today to explain properly on the above reason
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 2:58pm On May 19, 2018
For any business you will be venturing into, you must know what will cost you to produce a unit products and the revenue to be expected.
Most people fail to pay attention to this and they thought they are in business rather are engage in hobby .

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 9:34pm On May 19, 2018
if you are starting a business, you will have to invest a lot of sweat to it.

starting a business in Nigeria is not for a lazy bone especially in a environment like ours.
So put that in mind when starting your own business
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 8:52am On May 21, 2018
Never give up on your dream.
Persist until you get to your destination because it will not be given to you on a plater of gold.
Good morning




https://www.youtube.com/watch?v=5SVWUU74gBQ
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 9:05am On May 26, 2018
My own experience

For me,my area of specialisation is agriculture but what aspect of agriculture will I venture into,what business will fits into my present situation?

Those are the questions I asked myself and and it has to be the type of questions you should ask when launching out.

Next article
Business is all about sacrifice
To be continued
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 3:28pm On May 26, 2018
Nobody build big business without a lot of sacrifice
Remember days I have to pay my staff even though no money to pay myself.

Days where I had to leave my wife and children to focus on the business. Days of sleepless and working day and nights if you are not ready to do this; don't start any business

4 Likes

Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 8:25am On May 27, 2018
Short Story on Self Confidence*

There was a business executive who was deep in debt and could see no way out.
Creditors were closing in on him. Suppliers were demanding payment. He sat on the park bench, head in hands, wondering if anything could save his company from bankruptcy.
Suddenly an old man appeared before him. “I can see that something is troubling you,” he said.

After listening to the executive’s woes, the old man said, “I believe I can help you.”
He asked the man his name, wrote out a check, and pushed it into his hand saying, “Take this money. Meet me here exactly one year from today, and you can pay me back at that time.”
Then he turned and disappeared as quickly as he had come.
The business executive saw in his hand a check for $500,000, signed by John D. Rockefeller, then one of the richest men in the world!
“I can erase my money worries in an instant!” he realized. But instead, the executive decided to put the uncashed check in his safe. Just knowing it was there might give him the strength to work out a way to save his business, he thought.
With renewed optimism, he negotiated better deals and extended terms of payment. He closed several big sales. Within a few months, he was out of debt and making money once again.
Exactly one year later, he returned to the park with the uncashed check. At the agreed-upon time, the old man appeared. But just as the executive was about to hand back the check and share his success story, a nurse came running up and grabbed the old man.
“I’m so glad I caught him!” she cried. “I hope he hasn’t been bothering you. He’s always escaping from the rest home and telling people he’s John D. Rockefeller.”
And she led the old man away by the arm.
The astonished executive just stood there, stunned. All year long he’d been wheeling and dealing, buying and selling, convinced he had half a million dollars behind him.

Suddenly, he realized that it wasn’t the money, real or imagined, that had turned his life around. It was his newfound self-confidence that gave him the power to achieve anything he went after.

Let's face our fears this week with a new ray of hope and self confidence. We can only become better if we try. We can't achieve nothing by folding arms in depression. Our best is yet to come.

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 3:04pm On May 27, 2018
Happy Sunday people!
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 7:44am On May 28, 2018
Every entrepreneur struggles at one point or the other but the one that finally succeed DONT QUIT

NEVER GIVE UP
Re: How To Identify And Start Profitable Business In Nigeria by engrkunlex: 8:07am On May 28, 2018
The business concept, many employer wont share with you
Let’s me introduce myself to you, in order to lets you know am not here to scam anyone rather to break you from Financial hardship, Am here to strictly give information not advert or profile selling, am (Andrew O.K a.k.a engrkunlexy4u, am from Ibadan but base in Aba), I started the business during my service year in Aba, and today the rest is good story to tell.
Before I continue to explain, try to answer this question if you can, and also know some facts.
1. The largest selling of textile materials in Nigeria is which state?
2. Electronics container from oversea is entering lagos as Number 1 importer , while Textile,Okirika (Buskoro) is entering which state as Number 1 importer?
3. 70% of the shirts, pants trousers we used in Nigeria, is made from where (you will never know this, if you are not from Onitcha or Aba)?
Lets me share these amazing facts with you?

70% of boxers used in Nigeria is made from Aba (anybody with contrary evidence should quote me wrong), shirt they sell and jeans is directly made from Aba. The question is, are they Aba made? Nope and yes, what we called Aba made is simply lack of packaging and that is why someone like I and you is going to invest into all this area. Later, I will still share amazing things about Aba peoples you need to know.

Introduction into the business (Boxers)
Boxer is made of different materials, we have close to 7 materials, but the common type of materials in making boxer is majorly two in Nigeria today, check this link for the facts: http://dudeundies.com/news/7-mustknow-mens-underwear-fabric-types/ (Cotton and Bed sheets material), lets me explain to you, original Boxers materials is made using Cotton material (Shirt Material) because the texture is of high quality and it does not wash nor change the color after entering water, most packing shirt material we used are made of Cotton materials, it also does not absorb heat and the washing is very simple, you get this type of boxer in supermarket and good store. Lets me share of other the materials with you, called bed sheet material, go and look for a bed sheet material that brings color and remove hair after washing and you will understand what I want to explain, note: we have some bed sheet material that are costly but am sure they will never use that to produce boxer, only a big company use it, Bed sheets material is very cheap to get and most people get their profit from using that in producing boxer, as per say Nigeria like cheap things, Bed sheet materials has less (good) and thick textile texture, this is the type of boxer you wear and 2nd day your yarns and this stuff will begin to ask for fresh air (you get that line), where can I get that? Some fake supermarket store, aboki for road, omo igbo for road side, infact they can sell it for you at 150 to 200, they have already make their profit. It is left for you to choose what you want as a visionary business person.

Why you need to do the business
Do you know that 50% of ladies now wear boxer? Do you know that 10% of women (our Mother) also wear boxer? Do you also know that 80% of our papas now wear boxer and lastly do you know that 95% of grown up guys have nothing less than 3 boxers in their wardrobe? All this estimate was not so in the year past. Before our own generations wear pants, am still a young guy, our ladies don’t even wear boxers before, our mother don’t try it, while our father only wears pants or none. This facts should make you know that the paradigm of fashion is shifting and its for the best brain that will grab this profitable future opportunity and make it a reality. Another reason why you should do this business is, do you know that most people used to overlook the production of boxer and very few peoples knows how to sew boxer well, ask anybody in the North and western part of the country where they are producing boxer, they will tell you from yanki(abroad) or those guy that don’t have what to do.

The marketing strategies
I will like to explain from what worked for me during my service year and now I can be proud of it. Then we used to pick it at the rate of 200 naira and packed it into 3 in a good nylon for just 1000, the nylon at times attract peoples, people talk about Aba made, Simple definition of Aba made is what simply lack packaging and lack of well arrangement, though I know some people sew bad material for boxers and still sells. We give out to our fellow friends and also go to nearby store, banks and offices to deliver to them, some get attracted with the nylon and the color packed inside. Also, know that if people love you, even if they have 10 boxers at home, they will still buy from you, mostly, ladies sell faster than we guys you understand better.

How do I make my own profit?
The profit is very simple; first, ensure you are getting a good material from your supplier, because this will make your business sustainable for long. Imagine you are getting at 200 per one and you are packing it into 3 per 1 as in you pack 3 boxers inside one nylon for just start of 1000, mathematically, you gain 400 on it, which means 100+ on one boxers, may be after expenses of buying nylon and may be you want sticker to the nylon, you later make 100 on each boxer, I believe that is enough for anybody. Secondly, you can target supplying it out to people close to you, I have a guy who always acts as a middlemen for the boxer, he gets it and supply out to his people for sell, he made faster money than we do then. Making your profit depends on how you can think deep on it.

Risk attached to this Business
I believe there is no business without risk, any business that poses without risk must not be a genuine business. Number one risk is frustration? What do I mean, if you ever buy boxers from an untrusted person, and your customer started condemning your goods, you notice that frustration is the first thing that will come to you, advice, don’t go for anybody you cant trust in supplying you the boxer, and no matter what, never allow your customer to select boxer and that is why we packed it in a nylon, because all colour can never be so attracting, they compensate each other. Secondly, if you fail to establish market or target a market, you may be disappointed that it is easy to establish with mind but execution is a challenge, my advice for you is to talk about it to friends and family even your enemy and lets them comments about it. Lastly, You are the last risk, don’t join because I said its profitable, simply follow your dream and lets be fits into making it before you start, I started with my mind fits in making it, and today, after my NYSC, I stayed back in producing my own boxers and also work as an IT executive for one popular radio station in the city.


NOTE:
The business is sweet, but if you don’t have right mind of making it, don’t start it. Today, am supplying to different state today simply because I started the business from my mind after gathering all the facts needed and I develop a right attitude towards it. I started producing my own with less than 200, 000 today, though I invested more than that into it now.
If you will like me to supply you anywhere you are in the country, I can incur the cost of sending it but it will be (a pack) which is 25 pieces inside a pack nylon at N5,000 for now, I will pack 3 in 1 boxer separately from your 25 pieces as a sample for you, you pay after receiving it, you pay to the person that will give to you or from where you will get it from after bargain on sending it, I will only incur the cost of transporting it for the first time and subsequently you pay for the transportation on your own, all is to clear your doubt about it.

:If you have interest on how to make your own boxer with less than 200, 000, just drop your mail on this forum, I will mail you.
Note: I dont sell a fancy Boxer,i only produce what will last long for the consumer, so dont be disappointed getting my boxer and not seeing oyo-yo,and also i dont come here to advertize, only to sensitized. We can only promise you the best

Note: If you are in Lagos or Abuja and you are ready to invest in Bulk supply or partner kindly send a text or call: 08038662353.

1 Like

Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 2:39pm On May 28, 2018
My Experience on cashew.

It is better to have a cashew farm where you can source your cashew from than just buying from random sellers expecting to resell to other large exporter.
I had some pretty bad experience recently buying some cashew nut from the farmers. After purchase,drying, we weigh, bagging and storing.
Days after storing, I discovered that the weight keep reducing.
a 80kg cashew might have lost up to 70kg within days.
so I called everybody and told them we need to find what is really happening.
We later discover that most of these farmers plucked the cashew nut before its ripened, so the more they are dried, the more they loose weight.
if you are a farmer, you will be able to track your the source and determine the quality compare to buying them from source you don't know
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 10:07pm On May 29, 2018
There are numerous opportunities but not all opportunities should be explored.

There is need to make proper research on what will work for you and when you are sure of what you want to do, then go all for it.
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 12:08pm On May 30, 2018
You don't want to venture into a business because it takes 5 years or more for it to start generating returns, whether you venture into it or not, in the next 5 years, you will be older with no income generating assets.
Multimillionaires of today are the investors of yesterday and the investors of today will be the multimillionaires of tomorrow
Go for you goal!
Do it now!!!
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 2:06pm On May 31, 2018
Do
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 11:12am On Jun 01, 2018
Founders, as you build your company and it grows, avoid the temptation to propel your self-esteem and self-importance by the number of people working in your firm. The number of staff working in a company is a very terrible metric to measure success in the 21st century.
Do not scale the wrong metrics just because it makes you look “big”. Yes, I do understand that some partners may focus on that in Nigeria before they could give you an opportunity. It is typical with banks and insurers as one of the key metrics they use is staff strength in ascertaining readiness for partnership. You do not need to fault them – they have the rights to examine partners from any angle they choose.
Yes, apparently, the more people you have, the more established you may seem! But do not follow that path and start hiring people that would corrode your culture. A business is built on culture and that culture is really the people that work in that firm. So, the people you hire and those that stay, advance or move on would determine what that business would become.
Simply, make a very good case why that metric of number is irrelevant in a knowledge-based startup where the quality of the team is what matters. It is better to have two great engineers than 10 mediocre engineers. And from what you have done, that partner would see the quality of your vision and the mission to it. The vision is the aspiration of the future. The mission is what you want to get done now, in the short-time. The two are anchored on the culture of the firm – the people that work therein.
Sure – growth will demand that you expand headcount but let it be based on real business needs and not the impulse to say “I have 250 staff now”. If your ego takes over, within months, you would be filling the whole company with people you do not need. Avoid that temptation if you want to thrive for the long time.
Many startups which raised money in Lagos had this problem many years ago. They hired with reckless abandon and ended up causing pains to the staff when they had to fire them. I know of a young man who left a promising bank career for an ecommerce company only to be fired within weeks. If the company had thought-through that position, strategically, that hiring would not have happened. But when you measure growth and success by the number of employees, people do crazy things when they have money in the bank.
Always remember – when WhatsApp sold for $19 billion, it had only 32 engineers (the total staff strength was around 55).
Even by the standards of the world’s best technology companies, WhatsApp runs lean. With only 32 engineers, one WhatsApp developer supports 14 million active users, a ratio unheard of in the industry.
Yes, you can build a company in the age of cloud computing with very small people. Provided you feel good on where you are going, you do not need to justify relevance by the number of people on the payroll. The metric of labor was one of the factors of production. In the 21st century, the shift has been made. Any bank that parrots its strength by the number of staff in its payroll may be missing something: the world is moving into an era where robots and lines of codes would be the ubiquitous bankers.
If you hire for self-esteem, you may not be helping those workers because very soon, market forces would push you to let them go. There are many cases of those experiences in Lagos in startups where after raising money, founders go on hiring spree only to cut promising careers within months.
www.tekedia.com

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 9:07pm On Jun 03, 2018
Identify profitable businesses is easy. just build business for the market based on what people want. check my page www.facebook.com/waleagro to learn more.
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 8:53am On Jun 04, 2018
If you want to succeed,

you can do it through purposeful action. Just think about what you’ve done to accomplish goals in the past.
Chances are that you had a plan and followed through. It might not always be easy, but when you remain motivated, you’ll reach whatever goal you set out to accomplish!

Good morning.

1 Like

Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 11:09pm On Jun 06, 2018
Good

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Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 7:05pm On Jun 08, 2018
https://www.nairaland.com/4549447/free-agribusiness-training-self-employed
If you want to be self reliance and make a lot of money through agribusiness, then this is a great opportunity for you.
join now
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 7:19am On Jun 10, 2018
https://www.nairaland.com/4505152/3-reasons-need-start-cashew/1 3 reasons you need to start a cashew business in nigeria
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 1:26pm On Jun 10, 2018
https://www.nairaland.com/4489868/free-1-month-agribusiness-training
Training you will not want to miss.
Agribusiness done in a profitable way is the way to prosperity!

Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 7:38am On Jun 12, 2018
https://www.nairaland.com/4554514/experience-how-make-n50k-weekly
important read for those who want to make money. How you can make money from food coffers
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 4:49pm On Jun 13, 2018
Keep working on your dreams because dreams without action towards it's achievement is a mere wishful thinking.
Good afternoon.
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 11:43am On Jun 15, 2018
https://www.nairaland.com/4554514/experience-how-make-n50k-weekly
important read for those who want to make money. This is my personal experience on how i make money from food coffers
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 10:28pm On Jun 15, 2018
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 7:50am On Jun 18, 2018
A dream is built by consistently acting on your visions with perseverance and courage.
Go for your goals.
Good morning.
Re: How To Identify And Start Profitable Business In Nigeria by Lesgupnigeria(m): 8:20pm On Jun 19, 2018
smile irrespective of your situations

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