Theconglomerate:
A lot actually.

MelesZanawi:


Mention a few Onitsha trading-styled biz started by the founder and upon his demise or retirement, the second generation took over and the business is still doing fine.

Theconglomerate:
My mom's actually.
Trading;Food,tobacco,Alcohol.
Mom retired,brother edging on...
And businesses like that are littered all over Onitsha,port harcourt,owerri,etc...

davosky304:
I see a new trend here, oga ahib and pa Emma that have been open and sharing deep info that have benefited almost everyone if not all, someone now came and starts saying all sort.

Maybe you can start from yourself sir, so u share what they are not saying

MelesZanawi:


I won't agree with you. You know why? We can't independently verify your claims. If you expect me to believe you, you should also believe me if I tell you that my father's farm is the biggest in Nigeria.

So, give examples we can independently verify. Doesn't need to be Onitsha based, sole proprietorships engaging in trading.

Theconglomerate:
I didn't put it up there to argue what's there or what's not there.I honestly didn't come here to impress anyone.
However,
Just enter Alaba if you are in lagos and go collate data na.
Ask for how many trades men that are there that took over their fathers or mothers na.
It can't be that hard.

MelesZanawi:


Bro, out of all of them, you can't mention a single one that all of us know? Haba now?

Theconglomerate:
I pointed out how to go gather your data.That should be very easy for you to do.
You think I would start mentioning names of people I know and probably have interests with?
Nah,not really.

MelesZanawi:


That is because there are none. Zilch, Nada. See, sole proprietorships running the Onitsha style of trading have a high growth rate but they don't survive the second generation. The day I heard this, I argued it and insulted the person who said it. But as time went on, I saw it was true.
Ordinary insurance and strategic partnerships are needed to sustain businesses at that level. Problem is that people who operate businesses the Onitsha way don't know how to harmonise resources and attract talents. Everyone is afraid of competition.

MelesZanawi:


That is because there are none. Zilch, Nada.
See, sole proprietorships running the Onitsha style of trading have a high growth rate but they don't survive the second generation. The day I heard this, I argued it and insulted the person who said it. But as time went on, I saw it was true.

Ordinary insurance and strategic partnerships are needed to sustain businesses at that level. Problem is that people who operate businesses the Onitsha way don't know how to harmonise resources and attract talents. Everyone is afraid of competition. They prefer to eat 10 Billion alone in their lifetimes and be making noise than collaborate with brighter minds and build an empire that would outlast them and bring 50 billion per year.

davosky304:
I see a new trend here, oga ahib and pa Emma that have been open and sharing deep info that have benefited almost everyone if not all, someone now came and starts saying all sort.

Maybe you can start from yourself sir, so u share what they are not saying

Theconglomerate:
If your claims were true,don't you think the Onitsha style of trading should be dead by now?
Are you trying to tell me all the pioneers are still alive and are the ones running it till date?
If your claim were true,I guess there would have been lots of igbo beggars with bowls all over Onitsha,with illiteracy rate hitting the roof and housing deficits too,since childbirth hasn't stopped and by your assertions,all founder's businesses are dead so less resources will be available for the people of Onitsha to keep building commercial and residential houses.

Theconglomerate:
What they are not saying is that if you are young,energetic,ambitious and clear cut business,you have no business with mutual funds,capital markets,bonds,whatever...
Imagine if Dangote took that loan from his uncle and bought Tbills with it or even a chunk of it
I think your guess is as good as mine.
CBN was saying invest in the real economy and lowering rates for a reason.Maybe they hated the laziness they were breeding.
If you are old and retiring and have piled enough liquid in your time then it's fine.
If you are young,relatively broke and ambitious,goodluck with reaching the top at a gradual interest rate of 4% annually.
Unless you are an employee trying to save money through that means,but if you think you are doing business as a young person with this route?

MelesZanawi:


How many of those building houses in Onitsha are running businesses which are in their second generation of ownership? All are owners of their businesses and some haven't even clocked 2 decades. They won't beg or be hungry. God forbid. But the business won't become an empire that succeeds them. That's the truth.

Okay, let me give you a very good example.
Sir Louis Ojukwu was a Billionaire in his lifetime with chains of businesses. Which of his businesses survived the second generation?
Are his children and grandchildren begging? No.

Same business, different models, different outcomes.
Look at Chisco Transport, now compare it with ABC.

MelesZanawi:


How many of those building houses in Onitsha are running businesses which are in their second generation of ownership? All are owners of their businesses and some haven't even clocked 2 decades. They won't beg or be hungry. God forbid. But the business won't become an empire that succeeds them. That's the truth.

Okay, let me give you a very good example.
Sir Louis Ojukwu was a Billionaire in his lifetime with chains of businesses. Which of his businesses survived the second generation?
Are his children and grandchildren begging? No.

Same business, different models, different outcomes.
Look at Chisco Transport, now compare it with ABC Transport.

Theconglomerate:
Louis Ojukwu the billionaire had an heir that was more war hungry than running his business.
Tell me,where is ABC?
What did he do different?because he listed on NSE?
That is just him raising capital nau.
Did he pull out ABC funds and buy bonds,T bills or any other fixed income paper?
I'm sure Young shall grow will flaw this your ABC idolization.
Also,innoson did the same onitsha style of business and when capacity increased,he moved to manufacturing.
I'm guessing he mixed with the right minds like you claim and laid all his cards on the table with them.
Anyways,I tire for back and forth.

MelesZanawi:


Brings us back to the initial question I asked you.
Mention a single Onitsha styled business of sole proprietorship that is in the second generation of ownership.

MelesZanawi:


That is because there are none. Zilch, Nada.
See, sole proprietorships running the Onitsha style of trading have a high growth rate but they don't survive the second generation. The day I heard this, I argued it and insulted the person who said it. But as time went on, I saw it was true.

Ordinary insurance and strategic partnerships are needed to sustain businesses at that level. Problem is that people who operate businesses the Onitsha way don't know how to harmonise resources and attract talents. Everyone is afraid of competition. They prefer to eat 10 Billion alone in their lifetimes and be making noise than collaborate with brighter minds and build an empire that would outlast them and bring 50 billion per year.

thattnaijaman:
Guys stop wasting time arguing with these guy MelesZanawi.

Check all his comments and thank me later.

When it is an igbo matter he shows his bigotry.

He doesnt worth the argument.

How many northerners are doing well in business if not with help from the Federal govt.

MelesZanawi:


Bro, out of all of them, you can't mention a single one that all of us know? Haba now?

Onboard1:
Don't you know mama nkechi that used to sell food at onitsha main market? Nkechi has taken over the biz. It's generational.....
I'm just helping out to remind you of one

thattnaijaman:
Guys stop wasting time arguing with these guy MelesZanawi.

Check all his comments and thank me later.

When it is an igbo matter he shows his bigotry.

He doesnt worth the argument.

How many northerners are doing well in business if not with help from the Federal govt.

ahiboilandgas:
my strategy is that if i buy ( invest ) in a truck for 12m and it generates 500-600m monthly .....i open a sub account for the truck A and all income is save after repairs and salary, insurance untill the 12 million is back to the investment accounts....then the truck is now strictly profit income .....even if i exit after 24 months i can still sell truck for 8m ...so i have grow the investments to 20m within 24 months ....this are traditional business model ....i pay my self from each truck like 50k (cost of adminstration) x ......number of fleets ...this is my monthly salary i live within that range and even save ...i dont act like the owner (i separated the company from my self )

Yomit2:
Oga Aib, I will like to know how this trucking business works. Is it possible for someone who lives in the diaspora invest in a truck, registers it with a company in Nigeria without any supervision from the owner and still makes guaranteed income of 500k every month?

Yomit2:
Oga Aib, I will like to know how this trucking business works. Is it possible for someone who lives in the diaspora invest in a truck, registers it with a company in Nigeria without any supervision from the owner and still makes guaranteed income of 500k every month?

MelesZanawi:


Mention a few Onitsha trading-styled biz started by the founder and upon his demise or retirement, the second generation took over and the business is still doing fine.

emmanuelewumi:



Possible, but be very careful of how you invest your hard-earned money especially when you won't be around to monitor the investment.

Just two weeks ago a young man arrested his father and mother for squandering his hard-earned money which he sent home every month from diaspora for over 4 years for the construction of his house and other investments but met nothing on ground when he came home after 4 years unannounced. Maybe if he had informed them of his plans to come home, he might have been kidnapped or killed by his own blood

thebargainhunte:


There is nothing like onitsha trading style. Everybody has his own way of doing business in Nigeria and you don't need to generalize it. There are many business that survived second generation in onitsha, but most are sole proprietorship. They are not big companies so you wouldn't know about them. I think the guy has his own way of doing business, which I believe Pa Emma and oga Ahib. has corrected him to change. It is now left for him to take correction or not. I stand with what Pa Emma advised him inorder to avoid had I know during eventuality and I know some business men in onitsha that are applying it. You can't put all your eggs in one basket, you have to diversify and you have to set aside money for your personal needs, your immediate and extended family and for contigencies and they are not money for business. What I just said depends on the business. Most traders depend on their daily income to meet their needs considering how much they are using to trade. Someone that is selling garri or vegetables won't think about setting money aside, and this has been a major threat to the society. Imagine this lockdown what it has caused some families all over Nigeria. And now, you would tell me that they need to sensitize them, but if you do? How much can they set aside inorder not to starve their business?

I have to state this, onitsha business men and women are mostly into sole proprietorship and the scale of their business ranges from small to medium enterprises. You don't expect someone that is selling vegetables in ochanja or ose market to set aside money for personal stuff. At this point, growth is their only focus and they won't mind putting all their savings in that business.