AltarBoy1:


Betting company is good and profitable, when you factor in the fact that these days match results are erratic and peoples tickets keep cutting. The only threat to betting company is if the govt bans it entirely, but the future seem good for such company.

THough on my own, I dont encourage people to be betting.

Govt can't ban betting. Betting has been on for many years. It was called pools in those days and it has been on for many years.

bestmutiu2019:
hmmm nice write up o.p.am into plumbing and tilling work base in ore ondo state,due to low work,I gather like 100k then rent shop around march started okrika business as a side hustle,the time I started business is moving but now the market is not moving again some says that my market is too cost though I sell grade A.I am now regretting starting this business

buy palmoil when it cheap and store to resell,I have a business partner in omifon close to ore but is late now...you can also get maize from North and store it!

oweniwe:
AltarBoy1 Wey the light nau?

Na selling you dey do... What if you were into production?

I'm into repacking. No light to power nylon sealing machine. Wetin man go come do? I will sell and use sales money to buy fuel to run gen.. E dey wipe capital. Nigeria is frustrating county

If you say make i but inverter, I don't have 250k to buy robust one

Eyaaa! Its Nigeria effect.

One of the best writeups here. Wish you best of luck OP.

AltarBoy1:
I will have to stop here for now. I welcome any form of question or criticism. But no insults plz.

Nice write up, thank you very much for creating out time for this.

Synord:
The Op has said it all . A lot of people are dependent on white collar jobs solely and forget that the Nigerian economy is not favourable to the Average citizen .

Everyday taxes , increase in commodity price , lack of infrastructure and enabling business environment for business and startups etc . It is almost like Nigeria Is set up to frustrate you .

I earn 6 figures a month as a lawyer with a start up firm but it’s still really never enough . If not for my affiliate and digital marketing skills , only God know where I for day . Maybe I for don day do yahoo yahoo now .


Programming , Data science and Digital marketing are very reliable alternative source of income or business anyone can venture into and be rest assured of steady significant income in Nigeria . If you are interested you can check the link in my signature .

May we all be rich

interested I have sent u mail

You really made very important points I wish I was still single but I'm young

uthlaw:
buy palmoil when it cheap and store to resell,I have a business partner in omifon close to ore but is late now...you can also get maize from North and store it!

i luv very close to omifon even went to omifon yesterday pls how can I contact you

Thanks , this is the best post I have read in this platform,assume read this post since, it would have influenced my decisions. May Hod bless you. I need your contact please.

assinozick042:
ameen... I really apriciate man. If to say i have a big phone i would have open a thread were i will ask how to control agberos without giving them much money lol. They are much over here no cap

when you do open, please quote me.

Moneyboyz:
I have 400k right now but do not know what business to do with it

go buy Keke napep!!

[b][/b]

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

God bless you brother, this was really timely.

this info is so authentic and original...
i love the fact that it from personal experience...

throughout 2020 have been thinking of biz to venture by 2021.
i pray it works out perfectly

80k salary I dey burn am finish in less than too weeks... Naija more no get value.

Thanks for other skill...

Reading long post isn't my thing.



Pardon my typos.... Typing long post isn't my thing.[/quote]

Oboi, you try but always try your best and ask God to take you to the right place at the right time,God knows best especially when you seek for him.

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

Bekermann:


It definitely will go well. Trust God and believe.

Amen, thanks boss

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

Dear alter boy....
Your experience is enough motivation.
Can you please forward you number to my email address? maxicrete2@yahoo.com.
As I want to discuss and learn certain things from you.
Thanks bro.

bestmutiu2019:
i luv very close to omifon even went to omifon yesterday pls how can I contact you

call me or Whatsapp make we talk.
07039397858!

AltarBoy1:


Yes of course, there are always two side to a business. But let me talk a bit about businesses that failed. Over the years, there is something I have get to understand. Business grow small small and bit by bit. In my little experience, some business fail as a result govt policies or external factors. If you look at my write up, my own business failed when the exchange rate became unfriendly to NGN. Then my mistake was that I based solely on a particular product that I perceived gave me higher rate of return. If I had invested part of my capital in locally made biscuit with little return, probably that would have kept me going.

Another reason why business fail is lack of patience. Some people start up business with a projection that in the next 6 month they will be making millions. Then after 6 months and their profit is low, they quit. Business needs patience, thats why I talked about business growing via goodwill and reputation which will translate into profit later on in the future. Thats why your start up business shldnt be your source of survival.

Also, some people think that starting a business is all about having huge capital. Thats not always the reality; its more of having information and allies than capital. . Lets take for example... Buying and selling. You will need to understand that goods and commodity have season. If you are dealing on babies accessories, you need to knw that baby pampers for instance have season where the sales is more and profit is high. Am talking about whole sale. During the hot season, some mothers dont like wearing pampers for their babies due to rashes, but during cold season, its not the case. A lot of examples abound. One need to fully understand the business he or she is going into in other to avoid unexpected failure and mostly importantly dont go into any business with greed. Chasing high profit is one of the major reason why some business fail.

You sound intelligent, and factual too. I like that.

DukeJoe17:


what can you say about opening a betting company,
Do you fathom the probability of people loosing interest in betting in the nearest future because of the harsh economic situation?
I love the business because my kind of work is time demanding and the business is computerized which is very difficult to dupe.

Mist people will not need to visit your shop again with the introduction of Android fone, Many will not visit a betting shop

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

Your write-ups are amongst the best I've read in 2020 and I really commend you for that.

The passion and sincerity with which they were written is so glaring to anyone that read with an open mind.

I wish everyone, not just young people would heed your advice which are plain truths.

May God give you the courage to pursue your dreams and also the grace to succeed at them.

I wish you all the best life has got to offer.

Happy new year in advance.

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

Best thing I ever read ttoday, Thank you

Lush100:



Sir,
I glanced through your write-up.
All I need is the name of the FMCG.
And the place where they do not have distributor and their pricing details.
Been trying to connect to an FMCG for distributorship since 2018.
I've called many companies.
Sought their pricing details but places are usually already saturated or shared
I want one that is thriving.
Thanks

Dear, you did read the post well. Business is small small, why not look at the need they lack in your community

The good thing about not being an entrepreneur is,you don't worry much about business. many people will jump on the bank job offer since its a guaranteed job,unless you get sacked though. business isn't same,you hit top sometimes and hit rock bottom another time.

oweniwe:


Person can't just relocate nau. Relocation comes with lot of extra costs. Where I stay here now costs me 96k per annum but if I were to relocate to... Say Abuja or lagos or enugu, same house will cost 300-500k per annum to rent. I will still pay high NEPA bill on top

Like I said, I don't have that kind of money. Like I said, if I have 250k, I'll use it to invest in alternative power and no nepa bill

Lastly nothing is stable in nigeria. When I started, power supply was about 8 hours daily. After the recent grid collapses, only about 3 hours in the night. Ah area can have stable power supply now, next 6 months, the DISCO won't supply that area well again.

So alternative power supply is the way you go

Bros no vex oooo, abeg wetin this repackaging business de all about and how much capital fit start am? If you don't want to disclose it here, I can PM you. I really need to get hustling

This is insightful. Starting a business takes drive, determination, dedication and tact. God bless our hossle oooo....
Pls halla me if you have a fashion designing business in Abuja that needs an experienced person to manage production.

My experience from working a 9-5, without savings you'll be stuck in a loop. Since I started saving I my 9-5 became bearable. If you really want to start Saving, whether its weekly or monthly, your Savings has to be earning you interest. iNEST by FCMB is perfect for anyone that wants their savings to accrue as much as 10% returns on savings.

oweniwe:
AltarBoy1 Wey the light nau?

Na selling you dey do... What if you were into production?

I'm into repacking. No light to power nylon sealing machine. Wetin man go come do? I will sell and use sales money to buy fuel to run gen.. E dey wipe capital. Nigeria is frustrating county

If you say make i but inverter, I don't have 250k to buy robust one

Have you considered Solar-Inverter? The barber in my area is making a kill for it

AltarBoy1:

WHat you said is the truth. Though am not yet married, we are still searching but hopefully before Easter 2021, we will cross the stage

One advice for you ensure she is into business not full time job, because taking care of babies is a full time work

Yeah nice presentation...
yours is better you had something to start with...
what of others who can't even afford a capital...
and taking loans is like shooting yourself...
well, in my own experience have seen hundreds of business men looking for jobs.....( but that doesn't apply to everyone)
well all those you said are short time measures...
to curb poverty ...it wont work for long because
the naira is too weak....
I manage a shop also...
you could buy a carton of sweet let's say 1200
your profit is N50
then you go back the next day to buy... it becomes 1300k
minus expenses and tax
there would be no poor man in Nigeria..
because 90% of Nigerians are also into such businesses...
My relative whose son studied in Germany
Now a teacher within 2 years has built self con's
and bungalows
drives a C class 4matic...
I'm here doing business without even a 1996 camry

Bless you so much op for this thread.