That I regretted

Nigerian stock exchange.

olajide_07:
Mehn from the sales of boxes seriously can this be true the level of competition is deafening the whole of area 7/10 is filled with bag sellers, wuse market parts of wuse II, banex adetokunbo ademola are all selling these things gardens are being used as event selling points for different things so plz don't try and tell me u are trying to generate a pull from us or potential investors just be as frank as possible let's see the figures and the numbers confirmation

Sorry if my post was not clear enough. From my post I made my money by exhibiting wares at international events. I stopped selling boxes after the ban by customs. Please read my post again.

temmy2011: I like this thread, its very educating... due to eagerness in having at least 2 sources of income, I have really got my hand burnt in so many investment in the past; starting from Clubfreedom which was introduced to me then by someone, which I was paid the sum of N26,000.00 and I was asked to look for 2 people as a downline in order for me to raise - after all my strategies of printing posters, handbill, using internet I could not see more than 1 person, the person which is a close friend of mine. I just have to quit when I have tried all my possible best.

I later venture into Forex Trading by giving a very close friend the sum of N100,000.00 which we normally monitor the account together until one day when I came back from work, only to learnt that all the money is gone. I didn't stop there, I proceed to pay another so-called forex-guru about N100,000.00 and later introduced one of my street brother to him, and that man gave the same man N200,000.00 which after three months, everything went astray.

In order just to look for another source of income apart from my salary job as I am currently running my degree programme on part-time; I started Bulk sms business - to be sincere, this business looks promising as I realized almost 200% profit within 2 months which I was really happy about, due to my marketing strategies. But I am almost losing all these customers now due to the poor service of the bulk sms company that I am using. I tried another company, they didnt tell me before I jump back to the old company . And is the bulk sms business that is still bringing very little money to me now sha...

I dont mind any good practicable business idea oooo, as I am still eager having at least 2 sources of income and most especially becoming my own boss.

That's a touching story and something i'd kinda like if you learn some more stuffs form it.
I'm a blogger and a person like you will realy do well in the online world. Shoot me an email on
sheyi AT ivblogger.com and let's talk.

SHALOM

bluepro:

Hello Publisher,l read your post which l find very interesting. I am hoping we could link up somehow and see what we could do together. I am an ideas person and have been into advertising now for about 13 years and presenting doing my own thing like you. Am an Art director, which you are a copy person. Can l contact you outside on any email address? Do respond. Thanks.

@bluepro: u can reach me on 'soulmanstan@yahoo.com'.
For obvious reasons i cant give my fone number right here but i'll certainly inbox it to you. Just holla

Thank u all for enlightening us that just wana start. Am presently Serving(NYSC) at Ibadan with a company(there pay no make sense) around Oluyole estate, stays@ Ringroad. I opted for night shift so that i will do bizneses during the day( honestly am still looking4/thinking abt). In case anyone can be of help (email:playoo2003@yahoo.com). Thanks in anticipation

blackcat1:

Sorry if my post was not clear enough. From my post I made my money by exhibiting wares at international events. I stopped selling boxes after the ban by customs. Please read my post again.

Okay I mixed it up then sorry more info please

I love this forum so much at least if there one thing our so call government/politicians can not take away from us is our bizness acumen. Well as an Igbo boy business is like a water that I drink. Mine started from School (Uniben) having lost my dad in my 200level I venture into selling tokunbo electronics in school, it was so profit mouth watering and the demand was so high that I do shuttle between Lag/benin at least twice a week. it was so helpful for me that from my second year in school to my final year I didn't collect 1kobo from my family. After that me and my friend started Advertisement magazine in port harcourt which was moving well but do to my Nysc which was in lag I was unable to run the firm and my friend liquidate the firm. Now am in Bayelsa here Cement and building materials are hot cake but no finance.

blackcat1:

Sorry if my post was not clear enough. From my post I made my money by exhibiting wares at international events. I stopped selling boxes after the ban by customs. Please read my post again.

pls what type of wares do you exhibit at international events b/cos am kind of looking at going into that area and also what type if international events. i.e examples

olajide_07: I just got an idea it seems this thread is for us
Publisher-technical competence
Bluepro- the experience
Real Mccoy-
Ignatio - I inboxed you awaiting your response
I have a platform we could all work with if the terms are right
We could we all do something together bluepro do u have a website up and running better still add me to your friend lists and send me a mail via nairaland

Check your mailbox. Replied since.

After NYSC,I went into the snacks supply business. I ended up underpricing my goods and didn't make as much profit as I could have. Anyway I'm working under a professional caterer now so I can fully learn the nitty gritty of the business.

Ignatio:

Check your mailbox. Replied since.

Yea I think I have seen it now would get back to you asap

olajide_07:
Okay I mixed it up then sorry more info please

doziej84:
pls what type of wares do you exhibit at international events b/cos am kind of looking at going into that area and also what type if international events. i.e examples

olajide_07 and doziej84, my first ever international exhibition was the 8th All Africa Games in 2003 (COJA). I paid for a stand at the games village, displayed my remaining boxes and spiced up my stand with africana wears. I got the wears on credit from the wuse mallams (was able to get the clothes on credit because of the box shop I had at the time in wuse market). After 2 weeks of COJA I made over a million naira. I then rented a second shop in a hotel and went full force into africana wears.I used to in those days travel to lagos to balogun market, buy ghanian materials and mix it up with the already sewn clothes from the mallams to sell at exhibitions and in my shops.

Other international events I paid to exhibit were the AU(African union) meeting, African architects meeting and a host of others that I can't remember now. There were also some notable national annual meetings that I also exhibited at like accountants annual meeting, lawyers and teachers. I did not make as much profit from these as the international but it kept things moving while waiting for an international event to come. Exhibiting is not easy though, one has to always watch the news, read newspapers to know when the next meeting will be held and in which state. One also has to have funds to pay for the stands.

In the beginning when I started exhibiting, my friends made fun of me as per me a graduate selling wares but when I opened my second shop and bought my car they all shut up.

Least I forget, other exhibitors at the events I attended sold books, CDs, sculptures to name a few.

@blackcat,poster and all the others who shared,ur stories inspire me. Thanks for sharing. Subscribing.

snthesis: a friend scoped/hounded/begged/ me to invest into simcard biz- buy at wholesale prize sell a week later when the price goes up - sort of like stock trading. i succumbed esp since he worked with a reputable sim card distrubutorship and he would be responsible for the buying and selling all i had to do was provide capital, which i eventually did, unfortunately the week i did, the prices of sim cards crashed and i still dey wait for it to come up @least get my cash back (its close to a year now, and the dude that set me up is so nonchallant about it).

What a pathetic experience.That is human beings for you.I bet you he knew sim cards were about to crash,just needed to make sharp money.This kind of money runs stomach.Talk about TRUST!

The TRUTH is that there is NO business I would say I regretted doing because each one of them gives me a hint/experience with which to embark on the next one. I am the internet type I have tried football betting,offline Pool,Betonmarket,hyip,referral programs,bought a good number of e-books from guys whose only experience ends in collecting money from you after which you are on your OWN!Did I forget FOREX?Of all these ventures I am glad I learnt FOREX because I have the PASSION for it inspite of several losses.I am improving and I believe I will make it!The Rest of the previous ventures consumed time,money,efforts but yielded significantly NOTHING!

FX, Communications, Lands and e.t.c. Been very successful anyways

What an enlightening thread!!!I wanna try out selling of gadgets and computer accessories and see where it takes me.My girlfriend used profit made from the sales of attachment/weaveon to buy a laptop while in the university and she has gingered me ever since.I can't afford to have money lying idle in the bank no more.

.

olajide_07: I just got an idea it seems this thread is for us
Publisher-technical competence
Bluepro- the experience
Real Mccoy-
Ignatio - I inboxed you awaiting your response
I have a platform we could all work with if the terms are right
We could we all do something together bluepro do u have a website up and running better still add me to your friend lists and send me a mail via nairaland

Sorry am not very conversant with the Nairaland features. l would have added u as a friend. Olajide_07: You can reach me okeyd2000@yahoo.com. Thanks.

bluepro:

Sorry am not very conversant with the Nairaland features. l would have added u as a friend. Olajide_07: You can reach me okeyd2000@yahoo.com. Thanks.

i have added you both on the forum and on chat[b][/b][b][/b] just check beside your profile name and the friends icon

Abj Liner...whr re yu @..?

I've found this topic very interesting. Sometime in 2006 when I lost my job, I ventured into gaming center (Playstation et al) but I didn't succeed in it cos of police raid today, council raid tomorrow. Paid NEPA bills yet used generator most of the time. It's an evening business and as a woman I had to close early enough to take care of the home front and I usually closed at the time the 'boys' are at their peak and they usually get disappointed. I had to close shop when I found it wasn't the way I expected.

I have a salary job now and I have one keke Marwa who delivers weekly but because its being managed by an agent, the deliveries are not coming up as planned. The driver is supposed to pay up between 10 and 12 months but he has barely managed to pay the capital (N400k) by 12months! If God helps me and he completes the payment I'm never going tow that line again!

I find blogging interesting but I'm lazy at writing......!

I'm glad I'm not d only woman that has ventured into d gamin centre business. I started in august but its rily been tough I'm even on d verge of quittin but I kip tellin myself just one more day.mayb things wil get beta.I've done a lot of jobs in d past and wat I never regretted doing was sellin recharge cards in bulk..but ryt now I've got no finance cos I spent all my moni on openinin a viewin centre n game centre.but its been difficult due to power supply n pple don't rily come dere despite d fact dat its a very busy area..I don tire o..I hav tons of business ideas but capital is d problem

am really impressed with this topic...am still an undergraduate but i have started making plans of starting up something of my own once i graduate by next year....i have actually thought about opening a company that would solicit and undertake projects, i know how challenging this might be but i love challenges and am ready to make this a reality...i actually have discussed this with some friends but majority of them are dream killers but i don't believe that any person can discourage me....all i need is inspiration and God's favor and i believe that soonest this dream would come to actualization!

Glad i saw this thread this morning,at least i know i'm not alone in the area of failed businesses.I was beginning to think there's something wrong with me.Both Hubby and I have ventured into several businesses that failed badly.I ve descided to forget about business for now and get a job.we've lost a lot of money doing business.one very lucrative business was supplying energy drinks from a white Man to the northern part of the country.we buy in trailer.the manger at point was giving people he knew on credit and they never paid back.both capital and gain went down the drain,I had a boutique,then a satchet water company,all has been closed down.Guess business is not for us.

For each failed business i had a lesson to learn. One business that has always been good to me is executing IT contracts, funny enough i always said that this is the means to an end. The end being to become a manufacturer. But I thank God it has been good to me. I make sure i abide by three rules no matter who am dealing with.
1. No customer will ever cheat or take what is due to me, I must have checks and balances to ensure he/she/they wont die my money. If those checks and balances can not be there for what ever reason, then there is no business (especially if am making financial contribution).
2. I always backup my money back guarantee, I always do no matter what. If i sell to you and you arent satisfied, i take back my product/service and pay you back your money. (I wont take yours wrongfully and dont try to take mine wrongfully).
3. Am always thankful how ever business turns.

Its a big risk doing business in Nigeria, and its tough. But its even bigger risk not doing at all.

i must say this thread is very enlighthenin. am currently serving and will pass out in two weeks. truth is the job market scares me. i am a good web designer and have designed close to 12 sites in the last 5years.. the problem is that most of my client dont renyew thier subscription after yhe initial one or two years. this month alone i have lost 20k trying to trade forex. i have non-profitable blogs. bulk sms site etc. i would really need advice on what i can start while hunting for jobs.

uyogabie: Glad i saw this thread this morning,at least i know i'm not alone in the area of failed businesses.I was beginning to think there's something wrong with me.Both Hubby and I have ventured into several businesses that failed badly.I ve descided to forget about business for now and get a job.we've lost a lot of money doing business.one very lucrative business was supplying energy drinks from a white Man to the northern part of the country.we buy in trailer.the manger at point was giving people he knew on credit and they never paid back.both capital and gain went down the drain,I had a boutique,then a satchet water company,all has been closed down.Guess business is not for us.

Madam, I empathize with your situation.

But one thing I have seen lconstantly lacking in most of the posts is lack of mentors.

Granted that no matter how much due diligent and feasibility studies you do, you will have to learn from the "university of hard knocks". But. your chances of successis higher of ypu have an experience mentor(s) to lead you through the teething period. Therefore i will urge potential investors to try and get people who are well grounded in what you are about to do before you take the plunge.

If you think it's not easy to get a mentor, is avoidable failure a better option?

I know a lot of people who have made success of satchet water biz despite the challenges. Imagine if you had those who have been in the water biz for years like karbaka helping you out, you probably may not have closed it down. I know someone who decide to appoint a manager and give him 25% of the profit aside from salary, if he can meet the target at the end of the year, Lo and behold, turnover has trippled since then.

Correct me if i am wrong,your energy drink failed because of lack of time and supervision from you. I have similar structure taking goods on and put of the north. Like the one i know, the company's bank account officer verifies the stocks at the warehouse against the cash deposits. Most people have tendency to perpetuate fraud if the system allow them to do it .......easily.

All said, I think you would have indeed failed if you give up now. Learn from those experiences. focus on a biz and if you think anyone of them is difficult for you to manage, give it out for other's who mayhave better experience in such industry provided they agree to get their reward after not before.

All the best.

I have over twenty years experience in biz, I have done over 50 different biz and I am still counting but if you want to learn from my experience, you have to check my posts for it