I have observed that recently there has been an increase in the rate at which people come on Nairaland to seek business partners and to ask for advise on where to make investments.
While this is a good development it is fraught with many pitfalls as I learnt through my own experience.
I have compiled a list of things you need to bear in mind before you release money to anyone or go into any sort of business partnership.

Before you commit to any agreement with any potential business partner you need to take heed to these warnings:
> Do not be deceived by the fancy business plan, if the person proposing the business has no practical experience do not invest your money in it.

> Do not ever put your money in a start-up business especially one in which the owner has no practical experience or skills which is relevant for the
business to succeed. All the start-up businesses I put my money in failed 100%!

> Bear in mind that whatever the person seeking funds tells you about the business and how profitable it at least 60% of whatever he/she tells you
are all lies.

> Always know that for every investment opportunity someone presents to you there is always a dead rat somewhere; it’s your duty to find that
dead rat before you stake your money in the business

> Do not take anything at face value, always do a thorough due diligence

> Never ever invest in a business because of sentiments alone.

> Do not go into partnership with anyone who is not willing to invest money in the business.

> You must never allow yourself to be stampeded into releasing money under the pretext that the business opportunity will be lost.

> Do not ever borrow money to invest in a business which will not be managed directly by you

> Avoid investing in a business that is located in an area that is too far for you to monitor

> The worst mistake you can make is to invest in a business based on the advise of someone who is hoping to earn a commission for bringing in
financiers. Always do your due diligence no matter who provided the lead.

> If you agree to give someone a loan do not release money to the person no matter how honest or sincere he/she might appear until you obtain a
good collateral especially if you have not done business with the person before

Business propositions you need to avoid
> Forex trading

> Binary option trading

> Sports betting

> Investment companies that claim to trade in crypto currencies

> Companies that claim to be into exportation of goods but have never exported even 1 container before

> Haulage business

> Those people that claim to be consultants in fish farming or poultry business but they have no practical experience

> Mining businesses

This thread is directed at the following listed nairalanders but I’m sure other latent investors will also find it useful Firstnebo, Sync, Promotions, Jamesrock, Zobah, Mymoney001, BackT

Please feel free to ask me any questions you might have.

NairalandAngel:
I have observed that recently there has been an increase in the rate at which people come on Nairaland to seek business partners and to ask for advise on where to make investments.
While this is a good development it is fraught with many pitfalls as I learnt through my own experience.
I have compiled a list of things you need to bear in mind before you release money to anyone or go into any sort of business partnership.

Before you commit to any agreement with any potential business partner you need to take heed to these warnings:
> Do not be deceived by the fancy business plan, if the person proposing the business has no practical experience do not invest your money in it.

> Do not ever put your money in a start-up business especially one in which the owner has no practical experience or skills which is relevant for the
business to succeed. All the start-up businesses I put my money in failed 100%!

> Bear in mind that whatever the person seeking funds tells you about the business and how profitable it at least 60% of whatever he/she tells you
are all lies.

> Always know that for every investment opportunity someone presents to you there is always a dead rat somewhere; it’s your duty to find that
dead rat before you stake your money in the business

> Do not take anything at face value, always do a thorough due diligence

> Never ever invest in a business because of sentiments alone.

> Do not go into partnership with anyone who is not willing to invest money in the business.

> You must never allow yourself to be stampeded into releasing money under the pretext that the business opportunity will be lost.

> Do not ever borrow money to invest in a business which will not be managed directly by you

> Avoid investing in a business that is located in an area that is too far for you to monitor

> The worst mistake you can make is to invest in a business based on the advise of someone who is hoping to earn a commission for bringing in
financiers. Always do your due diligence no matter who provided the lead.

> If you agree to give someone a loan do not release money to the person no matter how honest or sincere he/she might appear until you obtain a
good collateral especially is you have not done business with the person before

Business propositions you need to avoid
> Forex trading

> Binary option trading

> Sports betting

> Investment companies that claim to trade in crypto currencies

> Companies that claim to be into exportation of goods but have never exported even 1 container before

> Haulage business

> Those people that claim to be consultants in fish farming or poultry business but they have no practical experience

> Mining businesses

This thread is directed at the following listed nairalanders but I’m sure other latent investors will also find it useful Firstnebo, Sync, Promotions, Jamesrock, Zobah, Mymoney001, BackT

Please feel free to ask me any questions you might have.

First of all, I want to thank you for including my name in this article. It made me feel seen.

Second of all, you see that money that I was going to invest? It's now tied up in racksterli. (I'm so ashamed of myself. But I know that if I come out of this, I have learnt a very big lesson)

Lastly, please I want to know what you meant by "mining business"

NairalandAngel:
I have observed that recently there has been an increase in the rate at which people come on Nairaland to seek business partners and to ask for advise on where to make investments.
While this is a good development it is fraught with many pitfalls as I learnt through my own experience.
I have compiled a list of things you need to bear in mind before you release money to anyone or go into any sort of business partnership.

Before you commit to any agreement with any potential business partner you need to take heed to these warnings:
> Do not be deceived by the fancy business plan, if the person proposing the business has no practical experience do not invest your money in it.

> Do not ever put your money in a start-up business especially one in which the owner has no practical experience or skills which is relevant for the
business to succeed. All the start-up businesses I put my money in failed 100%!

> Bear in mind that whatever the person seeking funds tells you about the business and how profitable it at least 60% of whatever he/she tells you
are all lies.

> Always know that for every investment opportunity someone presents to you there is always a dead rat somewhere; it’s your duty to find that
dead rat before you stake your money in the business

> Do not take anything at face value, always do a thorough due diligence

> Never ever invest in a business because of sentiments alone.

> Do not go into partnership with anyone who is not willing to invest money in the business.

> You must never allow yourself to be stampeded into releasing money under the pretext that the business opportunity will be lost.

> Do not ever borrow money to invest in a business which will not be managed directly by you

> Avoid investing in a business that is located in an area that is too far for you to monitor

> The worst mistake you can make is to invest in a business based on the advise of someone who is hoping to earn a commission for bringing in
financiers. Always do your due diligence no matter who provided the lead.

> If you agree to give someone a loan do not release money to the person no matter how honest or sincere he/she might appear until you obtain a
good collateral especially is you have not done business with the person before

Business propositions you need to avoid
> Forex trading

> Binary option trading

> Sports betting

> Investment companies that claim to trade in crypto currencies

> Companies that claim to be into exportation of goods but have never exported even 1 container before

> Haulage business

> Those people that claim to be consultants in fish farming or poultry business but they have no practical experience

> Mining businesses

This thread is directed at the following listed nairalanders but I’m sure other latent investors will also find it useful Firstnebo, Sync, Promotions, Jamesrock, Zobah, Mymoney001, BackT

Please feel free to ask me any questions you might have.

Thank you so much.

Firstnebo:


First of all, I want to thank you for including my name in this article. It made me feel seen.

Second of all, you see that money that I was going to invest? It's now tied up in racksterli. (I'm so ashamed of myself. But I know that if I come out of this, I have learnt a very big lesson)

Lastly, please I want to know what you meant by "mining business"

By mining businesses I mean those who are into quarrying or mining for talc, manganese, sand for landfilling, feldspar, precious stones etc. This is a very high risk business area and your money could get lost or stuck in an instant.

This type of business has too many issues, just be ready to listen to plenty of negative stories and excuses why the business is making losses if you ever put your money in this business!

NairalandAngel:


By mining businesses I mean those who are into quarrying or mining for talc, manganese, sand for landfilling, feldspar, precious stones etc. This is a very high risk business area and your money could get lost or stuck in an instant.

This type of business has too many issues, just be ready to listen to plenty of negative stories and excuses why the business is making losses if you ever put your money in this business!

Thank you

Firstnebo:


Thank you

Zobah:
Thank you so much.

You're welcome