Onahi95:
** Second Experience**

After many months of suffering and doing menial jobs, I and my friend decided to go into nylon making. We gathered small money and got one small machine and was producing from his balcony since there was no money to rent a shop. There was a problem though, we needed customers.

I bumped into a classmate and we got talking, he told me that he stays in Mgbede in Egbema of Rivers State and business was going well because it was an oil rich town. I believed him since it was evident he was living well. He suggested I visited Omoku to look for customers as business was thriving there at that time. What he never told me was that there was serious cult clash going on in that area. I sold my phone so as to sponsor my trip to Omoku.

He connected me to someone that I could pass the night in his place at Mgbede before proceeding to Omoku. I got to Omoku market and started looking for people dealing in nylons. I approached a man and discussed business with him, he demanded for different types of nylon because he was a whole seller.

I went back to base and set off to producing the goods with my friend, about two weeks later we were done and I proceeded back to Omoku with goods worth around 120k. I got to his shop and met his absence, after some hours he returned and it was late in the evening. I had to return to Mgbede with a plan to come back to follow day so we can do our calculations.

I boarded a taxi to Mgbede and a couple of poles to my bus stop we were intercepted by SARS operatives and bundled into their vehicle without even explaining what our offense was. They went on a mass arrest that night and arrested over 70 persons. We were tied like sacrificial lambs and taken to their head quarters. I later learnt that some cultists killed a police man over a month ago, so they normally come for mass arrest from time to time. My experience in that facility is a story for another day.

I contacted my customer and he bailed me with 40k the following day which of course was deducted from my payment. He gave me 20k for part payment and I left. Several weeks later and be was complaining of inability to sell the goods. Anyone into nylon business knows that once you produce for a customer it would be hard reselling it to another customer since it is produced according to specifications. He called me one day that he was sending the goods back since he couldn't sell them. After trying to sell it off with little success my friend sold it as waste. I was now in debt since I needed to balance to man.

It's always advisable to do a little apprenticeship or undergo tutelage before you start a new business you know nothing about... don't just dive into it!

From this ur epistle u go dey ok to dey carry blocks in a construction site. Work and be talking plenty

Ok

Onahi95:
** Second Experience**

After many months of suffering and doing menial jobs, I and my friend decided to go into nylon making. We gathered small money and got one small machine and was producing from his balcony since there was no money to rent a shop. There was a problem though, we needed customers.

I bumped into a classmate and we got talking, he told me that he stays in Mgbede in Egbema of Rivers State and business was going well because it was an oil rich town. I believed him since it was evident he was living well. He suggested I visited Omoku to look for customers as business was thriving there at that time. What he never told me was that there was serious cult clash going on in that area. I sold my phone so as to sponsor my trip to Omoku.

He connected me to someone that I could pass the night in his place at Mgbede before proceeding to Omoku. I got to Omoku market and started looking for people dealing in nylons. I approached a man and discussed business with him, he demanded for different types of nylon because he was a whole seller.

I went back to base and set off to producing the goods with my friend, about two weeks later we were done and I proceeded back to Omoku with goods worth around 120k. I got to his shop and met his absence, after some hours he returned and it was late in the evening. I had to return to Mgbede with a plan to come back to follow day so we can do our calculations.

I boarded a taxi to Mgbede and a couple of poles to my bus stop we were intercepted by SARS operatives and bundled into their vehicle without even explaining what our offense was. They went on a mass arrest that night and arrested over 70 persons. We were tied like sacrificial lambs and taken to their head quarters. I later learnt that some cultists killed a police man over a month ago, so they normally come for mass arrest from time to time. My experience in that facility is a story for another day.

I contacted my customer and he bailed me with 40k the following day which of course was deducted from my payment. He gave me 20k for part payment and I left. Several weeks later and be was complaining of inability to sell the goods. Anyone into nylon business knows that once you produce for a customer it would be hard reselling it to another customer since it is produced according to specifications. He called me one day that he was sending the goods back since he couldn't sell them. After trying to sell it off with little success my friend sold it as waste. I was now in debt since I needed to balance to man.

Ok

@op.


Every business needs Risk Management. That was one recurring theme in all your pursuits. You never did your home work.

There are lots of things you should consider when setting up a biz but the most important thing is safety of your goods. You seem to be the carefree type and felt doing things the hard way or "hustling" or "rudged" your way through things would bring you success .

1. You were going to deliver nylons and didn't even do a safety check of the area you were going? Yeah, no one expect Sars to pick you up, but i wouldn't be caught walking about around Mile 2 under bridge or Anthony under bridge at 9pm.

2. You were going to sell soap but never considered where to keep the soap in the eventuality of rain or change in weather. Were you expecting to carry the soap around till you finished selling? What if you needed a week to complete selling? Did you factor in the probability of that? Did you test the market with a few pieces and sampled opinions before going all the way down?


One pattern i can detect from your story is you just follow people's lead about doing businesses without carrying out due diligence about what the efforts and expected returns are.

I hope you try and do more soul searching. Businesses are tough to run but they are much more tougher and you would burn your hands if the basic motivating factor is to "find" something to do and make money. What value are you adding? What makes yours different? Also how alive are you to the factors affecting your business surroundings?

Plz house " if u have friend or brother looking for a reliable driver with valid drivers license,

commercial or private... high purchase " private drivér in South east Plz call


0 eight one triple four, 32 five 3 se7en

People think business is easier than working, but that is not the case.

It comes with challenges which you need plan, perseverance, focus, determination etc., to overcome.

Some people go into business because others did that or because they saw someone doing it and making it.

Faiththatworks:
There's a bitter truth that must be told to everyone, business is not for everyone.
And we must begin to teach people that buying and selling is not a business,it's called trading.
Everybody in the world is a trader, That's a talent God gave everyone in the world,there's no special skill needed to survive as a trader.
Back to the story,the only time my good friend in the story tried his hand on entrepreneurship was when he tried to actually produce nylon,and that's where I believed he failed as an entrepreneur,he should have started trading whatever he produced,but he failed and he gave up.
Nigerians are quick to quote motivational jargons but the truth is if all you do is add value to another person business you are nothing but a trader.
We are where we are today as a country because all we do is buy and sell and turn around to spin traders as entrepreneurs.
May God open the eyes of the next generation in this country.
God bless Nigeria.

An entrepreneur can either be a trader or an inventor, stop mimicking word and downgrading what people do to feel smart. You don't have to reinvent the wheel to be an entrepreneur.

Yes i don finally come to my senses don't mind my post up there,



Op do like me leave commodity line of business and go for service line, you will progress there, try it and see, don't forget to come back here to testify to the goodness of God Almighty.

PlanBizNg:
I am sorry about your experiences bro. I strongly believe that success in business awaits you pretty soon.

You see, failure, especially in business, is something we work hard to avoid. However, you hardly achieve success in business without failing a couple of times. This is because each time you fail at something, you've learned something new.

If you read the histories of successful business men, you will find out that most of them didn't achieve success in the first instance. They tried and failed many times before success embraces them.

My advice to you is Never Give Up!! Don't let your failure discourage you from following your dreams.

Robert F. Kennedy ones said; “Only those who dare to fail greatly can ever achieve greatly.”
And Gena Showalter ones said; “Giving up is the only sure way to fail.”

Finally, failure should be your teacher, not your undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end.


I wish you all the best in your future endeavors.

PS: When you've decided to go back to business, I will advice to do something you've tried and have some experience on. For example, the Nylon production business you tried. It's a good business, and something you can start on a small scale with little funds. This I'm sure you know by now.

Do not try the mistake of producing to some customers specifications except if they are paying for it beforehand. Instead, produce what is used and in demand by the majority.
There are thousands of customers, mostly traders that use and will always need your product.

Make sure your product is of good quality. Get a bike and use it for distributing to these customers. They will most likely buy from you since as a producer, you can afford to sell to them at a discounted price. Most will buy on credit and you get paid the next day/time you bring more products.

Avoid those large nylon dealers until they come to you on their own. Most of them are killers of small businesses.

Do not be in a hurry to expand. Let genuine demand from your customers dictate your rate of expansion.

Food production business is another business that thrives on Nigeria. However, most require you have some significant startup capital.

Bro.

Ah fit connect with you on WhatsApp or any of your handle possible.

I might learn one or two things from you

OP u have patience I swear in all of these you have narrated you still keep pressing on.
Well while you're waiting this is just a suggestion try learn a skill like tiling of house, plumbing, shoe making, even the soap production, painting, mechanic e.t.c

Kobicove:


It's always advisable to do a little apprenticeship or undergo tutelage before you start a new business you know nothing about... don't just dive into it!

This is the best comment here

Inexperience is one of the biggest killers in business

That's why young businesses fail

/
Nothing in your writeup suggests that business is bad.

Nigeria happened to you. That's all.

/

My small input!!!! U see office workers or people who don't have experience in business feel it is easy, u just buy n u get a good location n sell u make money boom! What u don't know n understand is it is not so, u think an apprentice who went for tutoring under an ready established businessman is wasting his time? Better u go for ur school, u come out with ur certificate. Shikina, u see that apprentice who spends five to seven years, before being on his own, his years of experience is his certificate, n it can't be bought with money, neither can u cut corners. People say go into business! I go just dey corner dey laugh, they think u can just jump in? Even a man who has bn into a type of business ,goes into another business where he doesn't have experience n exposure, he il loose his money, I ve seen many. Business is not easy. That is y u see a businessman work at his business for years , even when he makes head way , when he is not around, if there is no good replacement d business dies.

Business ain't for the lily minded. I ve lost up to 100k in a single bid to try something new, but sometimes when u lost u just laugh it off coz there's still enough left in the bank, because the risk was calculated. You must not allow motivational speakers push u into taking blind risks. If your guts tells you not to do it, don't!

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

“Never Say I Failed 99 Times, Say I Discovered 99 Ways Which Cause Failure!” - Thomas A. Edison

Return to the drawing and write out all the mistakes you made in all the businesses you have failed. Then, sit down and draw out a plan how you would do it better. Try to find solution.

Note that, most businesses fail not because they aren't making profit, but they lack good cash flow. In Nigeria, many people embark on businesses with low budget thinking they can hustle it through. No, when you under fund a business, only goodluck can scale you through. It's called gambling. Not until you enter a casino you gamble. Even sports and poker betters who are good talk calculated risk which you cannot call gambling. When you understand the power of maths, statistics and probability, then you know when to go into something, when to pull out, when to not go into something, and when to stop to minimize debt. But in Nigeria, sapa dont allow people think straight. They continue hustling without any winning strategy.

Also, when you are inexperienced in a field, try to research it well. You keep depending on new people without record track to pave way for you in business. And I think you haven't learned your lesson. If another person comes tomorrow, you will believe him and jumo into the business just like you did in all your crashed businesses.

Onahi95:
** Fifth Experience**
.....
At home I took the remaining goods to the woman I bought it from and sold it to her at over 60% loss and gave my dad the balance, though he complained but I carest not.

Do not make people lose confidence in you. Your father will not grant you any loan or assist you again with the way you fumbled.

Onahi95:
** Fifth Experience**
.....
Even though I'm beginning to feel that business is not for me. I still want to try more.
I'm still broke and I've got more ideas though no capital but something keeps telling me I will get a breakthrough I business one day. I will still come back to testify here.

You need to know why you failed in those businesses and restrategize before you can return to testify. As I see it, you have not learned anything.

Blessings!

You gave up too easily from your first business.
Stop being a jack of all trades, it doesn't end well.

I think you need to learn a skill, business is not for everyone

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

pls be strong start over.

Faiththatworks:
There's a bitter truth that must be told to everyone, business is not for everyone.
And we must begin to teach people that buying and selling is not a business,it's called trading.
Everybody in the world is a trader, That's a talent God gave everyone in the world,there's no special skill needed to survive as a trader.
Back to the story,the only time my good friend in the story tried his hand on entrepreneurship was when he tried to actually produce nylon,and that's where I believed he failed as an entrepreneur,he should have started trading whatever he produced,but he failed and he gave up.
Nigerians are quick to quote motivational jargons but the truth is if all you do is add value to another person business you are nothing but a trader.
We are where we are today as a country because all we do is buy and sell and turn around to spin traders as entrepreneurs.
May God open the eyes of the next generation in this country.
God bless Nigeria.

Na one of them be this! If u think trading is easy go into it na! Make inexperience help u finish ur money.

tensazangetsu20:

2012 was even good. Things went irredemably bad from 2016.

You are absolutely right ! My promising phone business hit the rock that year APC came to power . Raise of dollars, no economy team for months that will make money flow in the business world. no months will pass without criminals stealing from my shop that how capital start disappearing. The was how I was rendered shopless since Buhari administration.

Me that I was thinking to delve into business since salary no dey reach me again I need to think of a very nice idea, anybody knows how beddings material are being purchase by hotel and private hospitals I heard it a thriving business since they change their beddings from time to time

Fake stories

From your write up a common trend is a failure to find out in detail the business to determine if there is any money to be made before you invest into it.

Always do your calculations first and if it’s not capital intensive ( need you to invest a lot of money to start it) then do a trial run first.

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

Won't lie bro, I love your story and experience and I see you as a successful man already. I know it's just a matter of time and we will hear of your success story. God's watching you.

jaeyking:
Most Nigerians feel business is the way forward
Business is not for the faint hearted, if debt doesn't frustrate u, poor sales would.

But perseverance is the best

Bad debts is the main hurdle that a new business faces in Nigeria cos Nigerians generally do not like paying up debts

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

Supreme145, isn't this your story that this guy hijacked and claim to be his?

ipobarethieves:
at Op,that is life for you. To become a man is not a day job. A baby born rise/fall.That doesn’t mean the baby will never walk again.Learn from the baby,God will enlarge your coast.Never give UP

so u get sense like this

Don't give up. You will make it

Onahi95:
** Fifth Experience**

By now I was legit scared of business that I had to abandon it and seek for admission into the university. If at that I didn't stop trying

I was home for a break in school so I looked for something to do to earn money for the main time. A friend of my mom was selling bar soaps then and according to my mom she was swimming in money though she didn't look it o. I met her and she told me how she was making millions by taking the soaps to other States to sell, she advised I went to pH since they had high purchasing power.
I used to hustle street trading in pH so I was familiar with the environs which was an advantage or so I thought. I did my calculations and was in high spirits as I was going to hammer this time.
I borrowed 100k from my dad, bought about cartoons of bar soap and set off to pH on a faithful Wednesday because I targeted oil mill Thursday market . I first dropped at obigbo junction and set my cartons of soap by a corner that the owner was absent and started screaming on top of my voice soliciting for customers...buy your original soap here, only 100 100 naira, e don dey finish oooo, eleme dey look bayelsa dey buy oo, after today no more ooo....I kept shouting....
I got some occasional glances by passerby's as they proceeded to their destinations, one hour turned to two hours yet no one has asked me whether na sample I sample abi na sell I dey sell. I got exhausted from my fruitless shouting and sat down, I realized it was getting dark so I called the number of the person I would pass the night in her place at mile 1....ghen ghen number no dey no reachable .... I shaa packaged my cartoons of soap and set off to mile 1, after all I came for oil mill so I'm sure I would sell all the next day.
Getting to mile 1 around past 8, every where was dark and deserted. I was scared so I had to proceed to mile 3 that was livelier. I packed my goods in one park and started looking for a place to pass the night, I went to a police station but they were questioning me like a criminal even after narrating my ordeal to them. I left and went the a church and the security turned me back that they only allow people to sleep in the church during vigils. I ended up sleeping in an uncompleted building in the state university.
The following morning I set off to oil mill market, I remember when I dropped a barrow pusher came to carry the goods to a place I would keep them but since I was running low on cash I asked him to help me place it on my head....haa oga this thing heavy o e go break your neck o, just give me 3h make I carry am for you.....he exclaimed, don't worry I'm fine I replied.
Five minutes later I was sweating like a Christmas goat with my neck now at 180 degrees, it was remaining just two poles to my destination when I gave up and dropped the bag. I called another barrow pusher and he quoted 250 naira.....chai see penny wise pound foolish, I barely had any strength left to haggle price so I agreed.
I found a corner outside the market and set my cartons of soap, I took one carton and went inside the market screaming on top of my voice as usual, three hours later and I had just sold only 5 bars of soap to make matters worst it started raining and my cartons of soap was in the open.
I ran like a mentally deranged man to where I kept my wares trying to save it from the rain, while I tried to carry the cartons to a shed some gave way throwing some of the soaps on the road with tricycles running over them. A barrow pusher came to my rescue and helped me save the rest.
After the rain subsided I went back into the market and started selling the soap at a 50% loss yet I was unable to finish one carton, while I was struggling to sell my kaya those agberos came with their wahalla and collected #300 from me, I went to a different section of the market to try my luck and 4 different agberos surrounded me with different tickets each not less than #200 . Oga abeg I never sell anything I tried to explain to them, come on give me my money joor one of them roared.
By now I was close to tears as they made away with my goods, heiya its unfair o, you people should pity this poor boy naa, see he's even crying, some market women pleaded on my behalf. They finally collected #500 from me.
I managed to sell two cartons just enough to get my transport back home and set off to the park. I was looking very dirty and unkept, at the park I bumped into a girl I was wooing when I was in ph, she kept staring at me probably trying to deduce if I was actually the person she was seeing. I kept a straight face and went to sit at the back of the bus away from other passengers glare.
At home I took the remaining goods to the woman I bought it from and sold it to her at over 60% loss and gave my dad the balance, though he complained but I carest not.

Even though I'm beginning to feel that business is not for me. I still want to try more.
I'm still broke and I've got more ideas though no capital but something keeps telling me I will get a breakthrough I business one day. I will still come back to testify here.

Feel free to share your own experiences doing business both the positive and negative ones.
Mods please push to front page so we can get wider views and contributions.

You strong

Confused in complexion got me laughing, truly legit business is not for everyone, some times you make money at the expense of your health. My advice though is what ever you do have a proper business and exit plan. Is it really a unique product or are people going to buy because it is cheap or out of emotions.

Did I tell you the cyber cafe went off in flames? That may have been the last straw.

olamoses75:
Good days ahead bro. Don't give up. BTW, how about your education? You didn't update us on that.

The guy is educated already to American standards.

Oil dey your head.