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How Would 10 Million Naira Change Your Life? - Business - Nairaland

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How Would 10 Million Naira Change Your Life? by Godsfavour78: 3:32am On Oct 15, 2020
I often see people make comments like if I had 5m I would never be broke again. A guy even said if he had 15$ his life is changed forever.
But personally I think its easier said than done because I used to make such comments too.

When the money is in your hand fear sets in. For some its greed. Luck also comes into play.

Your fear can make you miss out on opportunities but can also save you from losing your money on a wrong investment.

Your greed can make you take risks and multiply your money fast. But it can also bring you back down.

That brings me back to my comment if i or someone else gave you 10m naira now.

What would you do to multiply it and make sure you never go broke again?

How would you manage your fear and greed?

Because I assure you once you get 10m greed to get 100m as fast as possible sets in you get 100m next thing you want 1bn. It never stops.

3 Likes

Re: How Would 10 Million Naira Change Your Life? by MajesticKris: 4:20am On Oct 15, 2020
It can't Change my life, But it will Help in making me achieve my Goals grin

1 Like

Re: How Would 10 Million Naira Change Your Life? by Akalia(m): 6:11am On Oct 15, 2020
Of course that sum of money holds the potential to either make me or destroy me. I would rather choose the former. What I would do with it is to simply sink it into investments. I already have a slew of investment options up my sleeve.

EDITED
I am in the process of building an Ecommerce company that will also double as a freelance platform. It will mirror its kinds like Upwork, Fiverr, Amazon KDP, e.t.c. A whopping sum of 10 million will execute this viable and sustainable startup and with a reasonable balance still in place after budget allocation.

In my words "the ultimate career goal is to attain the echelon of a CEO". I believe my startup will not just make me that which my quote suggests but will invariably and most importantly create values for people to leverage on especially in regards of business opportunity and employment opportunity.

That said, once this blueprint is actualised my life obviously will change and that of others around me as well.

1 Like

Re: How Would 10 Million Naira Change Your Life? by Powerfly(f): 7:55am On Oct 15, 2020
5 million use that money to open 8 standard but affordable confectionary/snacks shops in public and private universities of my choiced locations and hire qualified caterers to run the shop. Snacks like cupcakes,meatpies,sharwama,pancakes with icecreams, tigernut drink, zobo and carbonated soft drinks pull massive
sales with high profit margin turnover in this environment.
Secondly, i'll use 1.5 mill to buy a good and strong automobile which i'll use to run uber/bolt. It's always my dream to be an uber driver and the profits too is quite decent.
1.5 mill will be invested in myself to further my education in an open university, because i won't have the luxury of time to
be attending regular
lectures while hussling
my uber biz and co-managing the snacks outlets.
1.5 million will be used to invest in real housing estates while the remaining 500k will be given to my mum to start a poultry/fish farming and also agro feeds business.

The problem is the money, concrete ideas yapka.

2 Likes

Re: How Would 10 Million Naira Change Your Life? by Godsfavour78: 12:59pm On Oct 15, 2020
lalasticlala,seun please sirs take us to the promised land let's get more creative views.
Re: How Would 10 Million Naira Change Your Life? by Adeling(m): 2:20pm On Oct 15, 2020
Powerfly:
5 million use that money to open 8 standard but affordable confectionary/snacks shops in public and private universities of my choiced locations and hire qualified caterers to run the shop. Snacks like cupcakes,meatpies,sharwama,pancakes with icecreams, tigernut drink, zobo and carbonated soft drinks pull massive
sales with high profit margin turnover in this environment.
Secondly, i'll use 1.5 mill to buy a good and strong automobile which i'll use to run uber/bolt. It's always my dream to be an uber driver and the profits too is quite decent.
1.5 mill will be invested in myself to further my education in an open university, because i won't have the luxury of time to
be attending regular
lectures while hussling
my uber biz and co-managing the snacks outlets.
1.5 million will be used to invest in real housing estates while the remaining 500k will be given to my mum to start a poultry/fish farming and also agro feeds business.

The problem is the money, concrete ideas yapka.
This is good coming from a lady. But don't you think 8 is too much, considering the fact that you need to oversee this businesses, excluding the fact that you still want to be a uber driver. Haba! be calming down young lady.

well, mine would be software or tech investment (3m-4m (can't outline them on here), then grasscutter, cat fish, snail, chicken and Turkey farming 3m.
now assuming am left with 3million.
invest 300k in forex, 1m in real estate, 500k to the less privileged.
1.2m for miscellaneous (very important).

4 Likes

Re: How Would 10 Million Naira Change Your Life? by fykes(m): 2:50pm On Oct 15, 2020
Talk to us ... Let's get u up

Re: How Would 10 Million Naira Change Your Life? by Sikay19(m): 3:07pm On Oct 15, 2020
I will use 5 million to start local rice distribution business. Come to think of it, A bag is sold at an average price of 22k to the retailer. While i buy from reliable source at #19500/bag.
Potential profit= WP-MP+LC
Note: WP means Wholesale price, MP means price at the mill and LC is logistics cost.

Profit Analysis ;
22000-19500+500

=22,000-20,000
=2000/Bag

5m will conviniently buy 250 bags of local rice including logistics.

>2000 x 250 = 500k.
Realistically, A trip per week is possible considering the present rate of demand.
Two/three trips in a month is achievable.

The other 5m will be invested in real estate and emerging tech business, thank you.

1 Like 1 Share

Re: How Would 10 Million Naira Change Your Life? by Powerfly(f): 3:19pm On Oct 15, 2020
Adeling:

This is good coming from a lady. But don't you think 8 is too much, considering the fact that you need to oversee this businesses, excluding the fact that you still want to be a uber driver. Haba! be calming down young lady.

well, mine would be software or tech investment (3m-4m (can't outline them on here), then grasscutter, cat fish, snail, chicken and Turkey farming 3m.
now assuming am left with 3million.
invest 300k in forex, 1m in real estate, 500k to the less privileged.
1.2m for miscellaneous (very important).


Well. You're right.. But i'll have to establish and see to it that the shops are running smoothly.. Before kicking off the uber biz. Thanks anyway!
Re: How Would 10 Million Naira Change Your Life? by Nairalanderz(m): 4:54pm On Oct 15, 2020
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Re: How Would 10 Million Naira Change Your Life? by Hinioluwa: 5:00pm On Oct 15, 2020
if I get such amount, I will invest it on . Reliable land that will appreciate in few years . Rearing of poultry birds for eggs.
Re: How Would 10 Million Naira Change Your Life? by Oluwahelpme(m): 5:06pm On Oct 15, 2020
I'm in a business already. I will pay anybody who Invest in my business 3% Return On Investment every month. Guarantee. No story.
Re: How Would 10 Million Naira Change Your Life? by Heryormilekan(m): 9:08pm On Oct 16, 2020
Powerfly:
5 million use that money to open 8 standard but affordable confectionary/snacks shops in public and private universities of my choiced locations and hire qualified caterers to run the shop. Snacks like cupcakes,meatpies,sharwama,pancakes with icecreams, tigernut drink, zobo and carbonated soft drinks pull massive
sales with high profit margin turnover in this environment.
Secondly, i'll use 1.5 mill to buy a good and strong automobile which i'll use to run uber/bolt. It's always my dream to be an uber driver and the profits too is quite decent.
1.5 mill will be invested in myself to further my education in an open university, because i won't have the luxury of time to
be attending regular
lectures while hussling
my uber biz and co-managing the snacks outlets.
1.5 million will be used to invest in real housing estates while the remaining 500k will be given to my mum to start a poultry/fish farming and also agro feeds business.

The problem is the money, concrete ideas yapka.

Wow! You have good ideas here but Uber is not that lucrative again, too many drivers.

1 Like

Re: How Would 10 Million Naira Change Your Life? by Powerfly(f): 9:39am On Oct 17, 2020
Heryormilekan:


Wow! You have good ideas here but Uber is not that lucrative again, too many drivers.

really? Nawao! I'm really enthralled by anything 'driving' especially cars. God would help us sha.
Re: How Would 10 Million Naira Change Your Life? by DkJay: 10:22am On Oct 17, 2020
grin

If I got 10M, I'll keep it in a Cowrywise account for three months, then go and make serious research on the best kind of business(es) to do with it.

I have plans, but none of them on the 10M scale. The money would not run away after 3 months, so I'll use that time to calm down and think about my decision properly

1 Like

Re: How Would 10 Million Naira Change Your Life? by Heryormilekan(m): 3:23pm On Oct 17, 2020
Powerfly:


really? Nawao! I'm really enthralled by anything 'driving' especially cars. God would help us sha.

Yes. You can confirm from any Uber driver around, the competition is much now.
Re: How Would 10 Million Naira Change Your Life? by Powerfly(f): 3:26pm On Oct 17, 2020
Heryormilekan:


Yes. You can confirm from any Uber driver around, the competition is much now.

I really hope things would turn around so that people can find their bearing in life. Here in Calabar, if you start a particular business now in less than 2 weeks 10 more people would also dive into the same business.

3 Likes

Re: How Would 10 Million Naira Change Your Life? by Heryormilekan(m): 3:35pm On Oct 17, 2020
Powerfly:


I really hope things would turn around so that people can find their bearing in life. Here in Calabar, if you start a particular business now in less than 2 weeks 10 more people would also dive into the same business.

Exactly what is happening in Lagos too! Once people see you're likely to see the light of the day in your business, boom! They are in also even without prior experience.

2 Likes 1 Share

Re: How Would 10 Million Naira Change Your Life? by Nobody: 7:49pm On Oct 17, 2020
Akalia:
Of course that sum of money holds the potential to either make me or destroy me. I would rather choose the former. What I would do with it is to simply sink it into investments. I already have a slew of investment options up my sleeve.

EDITED
I am in the process of building an Ecommerce company that will also double as a freelance platform. It will mirror its kinds like Upwork, Fiverr, Amazon KDP, e.t.c. A whopping sum of 10 million will execute this viable and sustainable startup and with a reasonable balance still in place after budget allocation.

In my words "the ultimate career goal is to attain the echelon of a CEO". I believe my startup will not just make me that which my quote suggests but will invariably and most importantly create values for people to leverage on especially in regards of business opportunity and employment opportunity.

That said, once this blueprint is actualised my life obviously will change and that of others around me as well.

if I had the money...I would have given you because you just spoke my mind
Re: How Would 10 Million Naira Change Your Life? by Godsfavour78: 4:48pm On Jan 19
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Re: How Would 10 Million Naira Change Your Life? by Godsfavour78: 2:28pm On Feb 23
0xe4c1f4723e88fa21a186bc32f38022a66f460d4b
Re: How Would 10 Million Naira Change Your Life? by allen113: 3:05pm On Feb 23
OK

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