Good evening. I read ur post,my humble suggestion is to relocate nearer d south or east instead of staying in Abuja due to high cost of living. Then u can start a cab business which requires little or no capital input apart from d purchase of d vehicle which u should look out 4 a vehicle dat d parts r available and not expensive.Later u can think of other things. All d best.

seankola:


If i understand you very well and from my pov, you've been serving as a marketer and you have an ICAN certificate which you've never used in obtaining employment nor practiced with? If this is the case, then I will advice you to begin working on a business that relies on both your experience and your professional qualification. And to start with, numerous ideas have been occurring to me and I think you can do virtually any business you have passion for.

As you know, any business would require to make sales that exceeds costs(both economic and production) and you have all the dots with you...all you need to do is to connect them. At the same time, you are conscious about your dependants(wife and kids), that shows that you are NOT the 'ideal' risk taker that can venture into entrepreneurship without the adequate knowledge and a well articulated business plan to guide you.So another advice is that you look into your wife's business and see how you can expand her operation sufficiently since you are sure she can't possibly be interested in anything else but the growth of the business she is very familiar with.

Lastly, I can advice you to begin to take advantage of online businesses. You can make thousands just sitting on your computer at home marketing the right products and coordinating your sales with the knowledge you wield. My brother, note very well that I explicitly mean services and not physical goods/products. But if you need further advice on how to conceptualize an online business for a particular biz of your choice, u can consult me for free advice in exchange for your services too. I am an entrepreneur and a CFA student and i have a good experience in managing online businesses to an extent.

So you will simply start small, grow fast and become Big in no time!!!

@seankola,
pls i m honestly interested in the online biz thing.pls guide me thru.Thanks.
My email: olurico@yahoo.com

U appear a southerner, and u are living in the North. Pls my first advise for u is to come down south, pls i beg u for ur family life's sake, then u can then start thinking of what to do down south.

Leverage on your marketing experience in the bank. There are so many ideas already offered by respondents to choose from. Goodluck in your decision.

Op send the money to my bank account

First off, you have to save your family expense for the next 6 months at least. Secondly, you mentioned your wife is into baking, if I were you I would invest in her business and expand it for her. Equipment rental business is good BUT you have to do your research, figure out location, very important. Some markets are saturated even in Abuja but be flexible to move to places with new construction going on. As an example a place like Imo State might be good one since the govt is spending heavily on construction, do your research, watch news and know when the next new building is happening.Get your second used equipment in Lagos and transport to your location. Don't be afraid and desperate so you don't get swindled.

Claracuzio: Since u claim to have marketed for a bank, u should have good hussling skills. Here is my blueprint for you.
I credit you for saving 1.5m.
Purchase a Volkswagen Sharan__750k
Register it at a national motorpark and buy 4 brand new tyres and get all the necessary papers--100k
Sub total__850k
You can ply any long distance you wish, abuja-lokoja, okene, ekiti, ibadan, Lagos, kaduna... The choice is yours
Use the profit from this to maintain ur family.
You should still have a balance of 650k
Rent a shop for ur wife and set her up to the tune of 450k
Leave the remaining balance for emmergencies. Insist that all sales from the shop go back into the business.
Aftre 1-2 yrs sell of the volkswagen you should have developed a good business mentality by then and you can start travelling to dubai/china for purchase and sales.
Swallow that pride and do somthing else that 1.5 will finish before u knoww it and nobody is willing to borrow anybody money to start any business.
Good Luck and God bless

exactly you are a genius

Get a big lorry..maybe 8tons or 15tons which cost like 1.3million get the necessary paper...attached it to a company....u will make atleast 100 thousand a months....try it

Beware of all them online biz.

@poster u can check and start small http://bestplab..com

paparazy09:

@seankola,
pls i m honestly interested in the online biz thing.pls guide me thru.Thanks.
My email: olurico@yahoo.com

be careful ma brother do a business you know the rudiments and be careful about all forms of online biz that promises you easy escape ma brother I'm talking to you from experience. go buy that Sharon learn how to drive and begin to drive it yourself do you know that the now respected Adenuga of global fame was ounce a cab driver in new York city a word is enough for the wise and remenber that the bible said a fool and his money are soon parted don't fall mugun to all those purportedly free online consultant ad there is no free meal anywhere in the world ma man waky b4 all these nairalander hawks use style style disposes you of your money case closed

my brother count your self lucky. i am a marketer with a bank and everyday i pray i can walk away but the fear of the unknown holds me back but by God's grace i am already working on an exit plan. my elder brother who was a marketer with a bank lost his job last year with less than 700k savings, he relocated to a small town with cheap accommodation and got a shop for 50k.He then used his contact through a company he use to market to to apply as a distributor of their products, distributorship requires about 1.5m but he convinced one of the marketer to attach him with a major distributor in a nearby town which he did with 500k, the major marketer enjoys the incentives the company give but my brother gets the goods at the company price and also free delivery at his shop which makes him a really big fish in the small pond(town), he quickly established himself and other neighboring villages buys from him. Today he is a major distributor and the same bank that sacked him comes to his shop to collect daily deposits, you need to see the way he laughs at me anytime he calls.
My advise to you is this
1.Do not be afraid see this as a blessing
2.Attitude is every thing, it gives people confidence to deal with you
3.invest in consumables with readily available market
4.Relocate to a town with less competitions where your 1.5m will mean a lot.
5.Pray for God guidance to lead you to the right business choice
I wish you luck and pray for your success
THE FEAR OF THE UNKNOWN IS MANKIND'S ENEMY.

Why not buy keke marwa say about 3 and giv out 2 to riders on instalmental payment while you ride one at ur leisure time to cater for ur family. Once you can pocket 3k daily you will be ok. You can buy the three wheeler for 400k and give out for 600k. The riders pay 10 or 12500 direct to your account every friday. Such thing is done under agreement without hassle. This is what am doing right now in bariga, lagos. Talk to me on 08034018955.

@OP - with N1.5 Million in the "quite expensive" lands of Abuja. You will need more than positive encouragement and will-power.
1: Honestly make an assessment of your present monthly spend and get rid of all the expenses you can live without. even if it is cheap.
2: Get one thing straight! Abuja is tougher than Lagos when you are a 1-man business with a wife and 2 kids - it is a Dog-Eat-Dog world out there. Temper your ideas with caution and calculate your options tightly - N1.5 can easily disappear together with an ill-planned business idea. Forex, Online Bu@#shit, Google etc
3: ICAN and Marketing in the Banking sector is not even the standard anymore when people are struggling to keep a job with their MBAs,ACCAs and CFAs (there are just too many out there with paper-degrees and experience). do not attempt to use all your N1.5M for paper-degrees. it is tempting but it is only a 50-50 chance.
4: At these times you need a great deal of Emotional and Intellectual Support - If Religion is your gig, Pray and find support from your Church - They can be helpful when they are not taking from you - some have programs to uplift the plight of their members with small business opportunities that could lead to greater ones.
5: Know your true friends (this is when most run-away or try to finish you off by selling stupid business ideas)If you find that you have no friends - be very happy because friends are quite expensive to keep. You will now have the opportunity to make new friends from a position of Humility, Respect and Honesty (True Friends)
6: Your Wife and Kids will put a lot of stress on you - Marriage with stretched Finances always do - Make sure to tame your frustrations/anger away from your family. it helps a whole lot.
7: Do not be ashamed of your situation - Many have been there (many are still there) but the Purposed and Resilient have testimonies to tell - I know cos I have been at the Top and fallen to the very bottom for at least 4 years without a Job. I am grateful for the experience and the most important lesson you will learn from your situation is that the World only Smiles to those who seize opportunity with both hands or make one for themselves. The End Justify the Means

Meritgoal: @ poster my simple advice for you is just this! * Do not put all your eggs in a basket, you can buy a concrete mixer and give it out for rentage to building contractors ,0ne should be arround #220,000-#250,000 but you need to be sure of the availability of the users. You can actually make #10,000-#15,000 on a daily bases for the agreed period with the user. And you can take your time, to think of another good way of investing the remaining money.

i've heard about this biz, and it should be lucrative with the huge number of sites in abj. But u must have someone that will go with it to wherever it is rented and monitor the attendant, so ur machine doesn't break down on time. All the best. Like someone said, 1.5m isn't so large. It won't even get u a decent 2bedroom in maitama (i've worked and lived in abj). So be wise. Wat about getting anoda job? Or u can do estate agency business all u need is contacts.

AS A MARKETER THE BEST ADVISE I WILL GIVE TO YOU IS TO START A MARKETING CONSULTING FIRM FROM THE SCRACH JUST FOR SMALL AND MIDIUM BIZ AND YOU WILL PROSPER!

I love this thread.

You can sponsor a good movie with N1m and look for a good marketer --money flows in , coz that's what am into for now i have sponsored 2 movies i won't mention on here and it earned me double the cash , How it's done .,apart from the profit from the movie you sponsored young people that wants to become stars will always be disturbing your phone for you to put them in your next movie and obtaining them by trick to collect forms and registration plus some other tricks always working for me will turn you to a millionaire the negative about the business is that the fun inside it too much ooo ,if you are not self determined or you are a lose man, too many clean sexy gals won't let your wife enjoy you anymore and you can contact diseases if you don't like CONDOM

Google knowledge surpasses capital.

Keep your money in a fixed account then try and get a small part time job in the field you are interested in starting a business in .....Now you will not be working for money but for knowledge.

Serve for a year + (depends on how fast you learn ) even if it is a pure water business you are interested in or online businesses.

Then start with quarter of that money for 6 months without being tempted to go for more than the quarter once you find your feet then you can invest more of your money.

No I am not crazy I know you need money now to survive but if you invest that money now with no sophistication you will most likely lose it...whereas if you keep it away the depreciation will only be at inflation rate ( the interest paid by the bank is not cover inflation depreciation).

The most important part: Have no fear the Almighty who gave those kids to you WILL take care of the smallest and biggest needs. There is an opportunity to fly in this season i hope you find your wings where they are kept.....
Money never made more money .....knowledge + time did.

Omexonomy:
I tried it it work but i made the mistake of buying a second one

How do u mean oga

@OP my advice is to consolidate on what you have. Is ur wife's baking making some money? if yes invest some money into this. This would be a good start. Some have advised you to go into online business, I would kick against this, because money can go in a flash there. Keep looking for another job and then also do a SWOT analysis to scope out business opportunities around you, start small. Don't go investing massive amounts into a biz especially if it will take time to reap fruits. I would not advice starting with more than 500k except the prospects are high and sure. Take care

sleep 4 house 4 evening enter one bar buy one crate of maltina go keep 4 your house drink am all then check under the crown cork u fit get luck win a house worth 10 milli, or go give the money to pastor Chris oyakhilome as seed,then im go pray 4 u after 3 days when the seed start germinate,u fit even get work for shell were them go dey pay u 3 milli pes month

i share the same issue as u. just lost my job so i decided to dabble into business, currently selling perfumes but looking at the gaming business and and other things that are cheap but sell fast.

Was also into marketing, i now do a lot of cold canvassing but ite for my own stuff not someone else so all stress and profits are mine.

My advice,cut down on ur spending and think about the money u have as money to buy a product than can sell fast and give u profits be it via turn over. Set up a book keeping process get the product and get it out there to the market. Use ur marketing sauve abd savvy.

Also, one lesson i learnt from my old boss,put urself in trouble and but plan the trouble first,so that u know how to face what it throws at u.

One last thing. All the peole here that are telling about one product or the other. Do this for them, find out about their products, once u have the needed details, get out there and do a bit or business development,find out what the market feels about it. Positives responses means there is a market for it. Negative response mean ........ U get the picture.

Good Hunting.

Two things i saw in the previous posters.

1. Lotto business.
Sounds interesting as i see a lot of hood guys buying tickets on a day low.
From my estimate,setting up shop and joining a vendor of it and their union should cost u around 50k
Consider it as stream one of you income.

2. Business for wifey: Men i see alot of wives in a lot of stores around my area. Most just open up shop to gossip. Imagine a woman paying for a shope of 100k per year,products in it aint worth 60k. Question is ur wife business enclined. If she is then invest in a business for her,if not,abeg please no go waste money for a flop.

3. Supply,buying and selling. in this u have to conider what moves around u. if u got high classed mates then get them the high classed shit thr like but at a cheaper price. Look for companies around u, what do they make and can u supply them the raw materials they use in making their product. A word of causion enter any supply business with two times your running cost and please please start small so as to find out how their payment plan works. Cos where i worked before,my boss fould owe suppliers for a month and(and its funny after the hollering and the vexing these suppliers still supply).

The game here is multiple streams of interest.

This is the time u need to sit up. Here are list of things u can do. 1 Place N1m in TBills at 13 - 14% rate and continue to re invest it over and over again . 2. Use the remaining bal of N500k to get a golf2 and drive it yourself and make your daily pay. 3. With ur bsc and aca, u can get a part time teaching appointment with college of education and polytechnic. Just ask around. 4.U have Waec, jamb, nysc NIM program that require competent tutors. Seek, ye shall find. 5.Cut ur expenses drastically, having a simple garden of vegetable in your compound is not a bad idea, rearing animals 4 consumptn purpose will reduce ur household expenses. 6. Your wife is already engaged in a biz, that,s additional income frm her own angle.7. Spread ur cv ard if u are still interested in office work.7. If Abj is too expensive, move ur family to a less expensive place then u can stay bck and hustle. U need to cut dwn ur expenses. Lastly, Just get this fear out of ur mind, u survived before u got the banking job and u will also survive if u dnt have this job.

Omexonomy:
I tried it it work but i made the mistake of buying a second one

hi do you mean a second hand or a second machine?

why dont you try a drycleaning business u can start small. and use your marketin skills to win customers. GOD WIL SEE YOU THROUGH

ismhab: You should go and share it to the needy.

YOU ARE A FOOL IF U DONT HAV ANYTHING TO SAY KIP QUIET. AND DAT WAS NOT FUNNY

@OP My advice: Think deeply on suggested bus. ideas for u and pick
anyone that sparks an interest within you. Listen to what ur mind tells u.
At d end of d day whether u succeed or otherwise, it will be YOUR decision,
not someone elses' advice again.

Good Luck!

As an entrepreneur who has worked previously, lost money and built a company with real revenue, I have the following to say to you.

1. Keep the money safe in a fixed deposit account for 6 months. Your mental state post dismissal/retrenchment is not good for spending money.

2. Cut your living expenses. Cut any non-essential financial commitments. If it means moving to a cheaper house, sending your kids to a public school, do so. You are going into survival hibernation.

3. Decide if you want to apply for another job or start your own business. Which ever you decide to do, focus on it full time. If you want to work for another company, get tutorials on job application and spend everyday looking for and applying to positions. Focus is key. You can email me if you need help with job applications preparation.

4. If you want to start a business on your own, the safest thing is to latch on to what is working. Your wife is into baking and I suppose making some change. This business has history and a measurable track record. I strongly suggest you work with or for your wife for the next 6 months. Deploy your experience in marketing and accounting here. Study the process and trends carefully. Establish the prospects for its improvement and expansion. Document these.

5. If your participation and analysis of the baking business suggests that it has traction, map out a business strategy for its improvement and expansion. The initial funding required for this should not exceed 50% of your reserved funds. Run this project for 6 months. The balance in the bank is what you need to feel a sense of security. Don't touch it.

6. Start talking to friends and demonstrate how your business is working and how much funding it would require to push it to the next level. You need to be willing to formalise and issue real equity or ROI to investors. Learn how to do this. You will be surprised how some will give you 20K when you are looking for 2 million just so you will go away. That is 20k you did not have and that can go into your business. You can also approach community banks for small loans. But make sure your business has enough revenue to meet the repayments and still make progress.

7. You can save every month and put everything back into the business. But don't touch the money in the bank. The only condition you should is to add more to it.

Don't Waste Much Of Your Time Buddy. Go And Invest