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Nairaland Forum / Nairaland / General / Business / How Were You Able To Raise Up The Desired Capital To Set Up Your Business? (14040 Views)
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Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by mop4: 5:40pm On Feb 11, 2019 |
I invested in crypto especially bitcoin in the space of 6 months.... I ended up getting more than enuf |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Saltoflife: 5:41pm On Feb 11, 2019 |
This was treated by a NL https://www.nairaland.com/5008629/business-startups-zero-capital Get your answers there. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by adedehinbo(m): 5:53pm On Feb 11, 2019 |
I opened a gt target account with gtb,had an agreement that whenever I receive salary 25k should be deducted from my main salary account to the gt target account for one year,that was how I could save to start a poultry business |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by amstardi: 5:56pm On Feb 11, 2019 |
BANKS DONT GIVE OUT LOANS AGAIN? |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by asunmoGGMU(m): 6:06pm On Feb 11, 2019 |
Smartjob1: Interesting. I am into data analysis and academic writing consultancy too. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by mentro: 6:11pm On Feb 11, 2019 |
akaahs:I like this, can you give me some advice on piggery business? I want to start like you started. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by davidsthe(m): 6:22pm On Feb 11, 2019 |
Lakside1955: I don't like people like you that don't know what to reply and what to ignore |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Nobody: 6:23pm On Feb 11, 2019 |
Justfunkira:Your brain is closed. Open up your brain. As a matter of urgency. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by AwesomeDuru(m): 6:28pm On Feb 11, 2019 |
Smartjob1:Hi, your story is really inspiring. Can you tell me where I can learn eviews, spss and sata12 from? Do you have pdfs that'll help? Thanks 2 Likes |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by abah001: 6:37pm On Feb 11, 2019 |
Justfunkira: Foolish goat |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by stancod(m): 6:58pm On Feb 11, 2019 |
jaelz:pls for how long were able to save for capital to start the business...months,days or years |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Itzogunsakin(m): 7:11pm On Feb 11, 2019 |
Britishcoins: Please can you teach me about Google Admob? 1 Like |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by lightdream: 7:39pm On Feb 11, 2019 |
dommyini: I have always thought abt Agric biz. Please would you mind to put me through? I have an Hondar car though it’s before year 2000 serie model, an estate land for five years . All these came from when I was driving marwa. I left d biz after I completed my Nysc .now I got sucked to think of anything in paid employment. Getting tired and looking option by the side because of tomorrow. 1 Like |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by The10thMan(m): 7:53pm On Feb 11, 2019 |
I was lucky to have eventually had a job that paid fairly well. I worked in the banking sector for a while where I was able to see first hand what entrepreneurship looked like. We were chasing young men to collect loans as part of our target. Upon leaving to a higher paying job, I set aside savings to set up a business. The business was registered with about 50k at CAC even though I did not run it for a while, I had the business name secured and was waiting for seed/venture capital. When I was ready, I started with freelancing at first handling small components of major jobs. Made some money extra money, then started growing my own company. Training myself, improving my skills.Generally you can raise capital by some interesting ways including: 1. Personal Savings (from your job, other income sources, learn a skill/service to offer and get paid for); 2. Finding an Investor/Venture Partner (Selling Equity/percentage of the business); 3. Apply for a Loan; 4. Join a Savings/Cooperative Group; 5. Ask Family/Friends for Assistance. Personally, I discovered that I was lucky to be able to raise capital through option 1. Recently, work staff cooperative has been important in no small measure, especially when it comes to acquiring real estate. I want to believe that if one knew a skill (handiwork/handicraft) that required getting paid for, one could make some income, set up something small and grow it from there. It is why some form of artisanal skills are important e.g. online skills, coding, etc. are important. You dont need special offices etc to offer your handiwork skills for earnings/income. Perhaps we now need the reawakening of various platforms including DRAGON'S DEN etc. to encourage entrepreneurs. Or perhaps a topic is created for people with start up/entrepreneurial ideas posting their business ideas and seeking for/attracting potential interested investors to invest for some equity of the business. Of course it will involve proper in-depth investigation and documentation. However, this will also be limited by unseriousness and people trying to take undue advantage of one another. A particular individual who posted his number sometime ago about a proposed Lounge/Bar/Restaurant Business in Lagos Island was called for weeks on end, with his number unavailable. Yet he was seeking for investors. 4 Likes 1 Share |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by lovelybugs(f): 8:08pm On Feb 11, 2019 |
Evangkatsoulis:Not really. I worked when I graduated from secondary school. Then when I was ready to start a business I showed my business plan to my parents and they gave me some money to support. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Adegbem01(m): 8:26pm On Feb 11, 2019 |
erico2k2:It easier said, i am since been on the look out for that, but no job yet |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Nobody: 8:39pm On Feb 11, 2019 |
lost my wealthy aunt....she willed all her property to me.I used it wisely to start my dream on fx 1 Like |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Lakside1955(m): 9:36pm On Feb 11, 2019 |
Smartjob1:Tnx much, this quote really inspired me more |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by NettyNelly(m): 10:02pm On Feb 11, 2019 |
Join AYEtrustfund and get loans without collateral or interest. NB the amount you get depends on how much you where able to save and no of trust u could build. It is basically transaction based on trust |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Occurstaem(m): 10:57pm On Feb 11, 2019 |
Smartjob1:I am encouraged. I have interest in learning data analysis. Could you be my guide? |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by HeliosHay(m): 11:28pm On Feb 11, 2019 |
I saved up money from my Job and started my business on the side...2 years later I earn more from my business than I was earning from my Job. 1 quit the job last year January 2018 1 Like 1 Share |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Timabel: 11:33pm On Feb 11, 2019 |
jaelz: Awesome Question. While this question remains a very important question most people should be asking, a whole lot of people especially youths have stalked themselves to the old and archaic non-existent ways of raising capital for businesses. First and foremost, none of the above mentioned is reliable and easy to utilize anymore especially in this part of the world. Briefly, let me just tell you my story. If this convinces you, then you can even make N10m before the end of this year as cash in hand, apart from other assets (neccessities or luxuries). Not to waste time... I was a branch manager with Diamond Bank, after sojourning from STB, UBA, FIRSTINLAND, BANKPHB before finally ending up in Diamond in 2009. Joining Diamond Bank was as a result of job loss during the downsizing that caught up with most of us starting a new branch. The experience after losing that job taught me a lesson. That's for another day. So, when I got the Diamond Bank job, I decided to start preparing for the next years ahead. I started a Cement Business, Petty Land Business, I already had a club that wasn't giving me a dime because I left it to be managed by friends & family members. One of the most annoying investments I did was to start a poultry business with over 3,000 birds. I never got a dime back from my Nephew who managed both the cement and poultry bizs. Fastforwarded. I resigned with over N5m in my account thinking I was rich enough to start a biz. Yes! This is of course a comfortable amount for some people. But not everyone can manage that amount especially considering the level I had risen to in the society plus family responsibilities. I paid over N1.8m to start up a lights business. Sad experience for another day. Spent over N1m to fix my house in Abuja. Lost everything. Tried one or 2 other hustles. Got lost in the middle. I became broke totally. I started losing weight. I lost friends I lost my apartment. Just name it.... Everything. I stayed indoors for months without stepping out. I smoked like hell. I fed on just garri and okro. I'm nit exaggerating. In fact, my wife now can confirm it, because she was the only one I could talk to. My whole clothes were faded. So, one morning I stepped out to my usual Malam's kiosk to buy cigarettes on credit. Lol On my way back, I saw this Newspaper stand being patronized by FRA - Free Readers Association � So I joined them. Before telling you what I did next. Let me first inform you here that during those periods I stayed indoors. I read books I had abandoned while as a banker. In fact,most of the books were bought by me just for the titles. Nothing more. I was only building my Library. So, one of those books I listened to was "The Art of Exceptional Living" by Jim Rohn. Right in that book, Jim advised listeners to read "Think and Grow Rich". So I went further to start reading it. In fact, I was still reading it when I discovered what I needed to do. So attitude Newspaper stand, I read an advert in Punch about a Telecom company seeking for Distributors in the North. Gbam! I took that advantage by taking the contact details. Went home and called the numbers. Behold it was the MD of Tue company. They sell Land GSM phones. I told him I am the best distributor he would ever have. � That gravity was what I learned from Edwin Barnes in Think and Grow Rich. In the long run, the guy sent me flyers and a few information to help me get started. I had zero cash. I went online a d started marketing the product. To cut the long story short. I became the major distributor in Abuja. I got contract from an oil firm to supply them. Made N900k + from that one deal. Went on to supply FIRS, NNPC, NDIC, etc. I became a partner with Globacom and Etisalat. The members of staff started marketing for me. Now, I can't continue with all the stories here. I already package that in my new book. How To Start A Business Without Money. This is what you should know. First there are millions of businesses that have so.much capital but they're not making the needed sales to break even. Secondly, you do not need an office to start as you can operate from home after sealing a deal. Thirdly, it's not all products you should market. You need to thoroughly research which one has a good margin and how much of interest the audience will have buying it. As I speak today, there is one of my clients I sealed a 15 years deal with. As small as the cost of his product is, at least I make a margin of between N2 - N4k per product. I could get request to supply over 500 in just a day. Sometimes, within a week, I supply between 98 to 150 of the products. Now, this may be difficult to understand until you get really close. There are other options if you don't want to get involved directly. 1. Tell the client to pay you upfront. Then you deliver the rest job and make him happy. 2. Get the client to allow you set up the structure for them. He pays you and you live. You can think of more options. Well, I'm open to questions here. Finally, you can check my website - www.timabels.com or Facebook page as Tim Abel. Chat me up on 08027941987 - WhatsApp I hope this can get you started. Please do not mind any error here as I'm doing this while listening to other things. Enjoy 5 Likes 2 Shares |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by 1stbest(m): 4:29am On Feb 12, 2019 |
NettyNelly:pls, how can i ioin and get a loan from them? |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by niyoni: 8:07am On Feb 12, 2019 |
The10thMan: Hi @The10thMan. Please could you share any profitable business ideas that are implementable in Port Harcourt or Warri with a maximum of 5 million naira capital? I am seriously in search of viable business opportunities that are profitable and sustainable. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by mercywhite(f): 8:56am On Feb 12, 2019 |
Personal savings and investing on the most important things first. |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Smartjob1(f): 10:02am On Feb 12, 2019 |
AwesomeDuru: Send me email to send you pdf docs: chuksogbodo@gmail.com |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by erico2k2(m): 10:16am On Feb 12, 2019 |
Adegbem01:Keep looking,the worst thing you can ever do is stop looking |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by NettyNelly(m): 10:36am On Feb 12, 2019 |
1stbest:Log on to ayetrustfund.Org and sign up. But you will need to save first 1 Like |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by 1stbest(m): 12:35pm On Feb 12, 2019 |
NettyNelly:save like how much and for how long? |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by NettyNelly(m): 3:45pm On Feb 12, 2019 |
1stbest:Any amount but I suggest 5k per week. U can withdraw any time you want. Sign up and read T&C BTW it was launched last year |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Nobody: 4:48pm On Feb 12, 2019 |
Smartjob1:sent you a mail |
Re: How Were You Able To Raise Up The Desired Capital To Set Up Your Business? by Occurstaem(m): 1:29am On Feb 13, 2019 |
Smartjob1: Please I would like to receive it too. May I send a message to you ? |
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