₦airaland Forum

This is a good idea and this brings up the issue of funding a startup

EgunMogaji:
I won't argue about the cost of data.

BUT as a budding entrepreneur have you pondered a potential business scheme to take an opportunity of this?

Let me give out some freee ideas.

1) Why do Nigerians think they have to only work form 8 to 5? Why not 11PM to 8AM when things are relatively cheaper?

2) Nigeria shuts down pretty much at night, comparatively. Why not approach data providers to sell you a block of data in the offshifts that you can resell under you own brand?

Does this sound hard?

What was your experience like living in the midst of white majority.

EgunMogaji:
If you have a viable idea/product then no one will really care about the color of your skin.

There are lot's of african american in silicon valley. I lived there for about 3 years or so.

I won't complain of electricity since am into tech niche but cost of data in Nigeria is still far expensive.

EgunMogaji:
Depending on what industry you are in, you can get free 24/7 electricity.

Is it cheap? No. May not be even feasible once you calculate the amortization. But it's available nonetheless.

One thing I like about the roads are the greenery

spyder880:
The roads in New Owerri........

Real estate thrive more in Enugu and Anambra. Hotels thrive more in Owerri due to the night life.

OMANBALA1:
Are you saying real estate business is more viable in Enugu than Onicha, Asaba, Benin etc

Cost of buying data is very expensive compared to what is obtainable in developed countries. I won't mention electricity as generator can serve and access to funding is also a big issue. No venture capitalist as it is in the US,
what we have in Nigeria are international funding agency and foundations which are more competitive.

Nig4Greatness:
...

Are you doing anything techs related in Nigeria presently??.

Can you shed some light on the bolded??.

Let's start from there.

Bossman and other tech gurus in the states, your contributions is very much needed.

Dremca:
Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

I'm waiting for pirated copy sold on the street. In Nigeria we don't buy movie from Netflix, we buy from street vendors.

Backfornow:
I think the upcoming segment on corporations will be more of interest to you.
Did you look into that movie I was telling you about? When I first heard of it, I wasnt interested bc I didn't care about McDonald's. But it is a good movie to watch for entrepreneurs bc it makes you think about innovation and the importance of protecting yourself.

I've taken the front row seat

Backfornow:
2. Partnerships
This is the second type of business ownership. It is defined as an association of 2 or more persons who carryon as co-owners of a business. Partnerships are the least used form of business used.
There are 2 types of partnerships:general and limited.
A general partnership has complete sharing in the management of the business this includes debt. Each partner has unlimited liability for the debts of the business. Examples are lawyers, architects, and accountants.
Limited partnerships has at least one general partner and at least one limited partner.
This general partner assumes unlimited liability. The limited partner liability is limited to his or her initial investment. General partners run the everyday activites of the business and accept most of the risk. The limited partner do not participate in the everyday activities of the business but do receive a share of the profit. Examples are real estate partnerships and oil drilling partnerships.
Anyone considering this type of business structure should make an article of partnership. Articles of partnership are legal documents that detail the basic agreement between the partners. Ex how much money is invested, the roles of each partner, and how the business should be carried forth if one partner wants to leave.
Next time Advantages and Disadvantages of Partnerships

Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

Nig4Greatness:
....
You are still in Nigeria,are you planing of coming over anytime soon??..or why the lure of starting a business in America??.

Obinna nwanne m aburu go celebrity!

Tech startup

Babyvet:
When you say business , what type of businesses are you talking about?

I'm looking at software tech startup like: Facebook, Google, apple, twitter and the rest.

stonemasonn:
My relative ran a business some years back while working, it wasn’t easy. There were large bills to pay including wages for an assistant, for instance to place a banner with lightning in front the shop to attract customers also required permit with monthly fees to the state and so on. I Believe it’s better to have complete focus and the required capital to start.
The location is also important, I noticed some Africans and Asians open their shops near low income/ghetto areas, probably due to high cost of rents at middleclass/gentrified areas and also to avoid competition from the likes of Walmart, Sam’s club, Target etc. It depends on the type of business though. Also the use of ecommerce platforms like Shopify and woocommerce with online payment and door to door delivery goes a long way.

Even the mentality of "No work in Nigeria, manage what you see" for how long will one continue to manage-
suffering and smiling. Nigerians have accepted mediocrity as a norm that's why even the so called educated will bathe with salty water in the name of preventing Ebola.

theamerican:
The people I pity the most here are the creative minds that have no clue how making full use of their potentials can liberate them forever. See intelligent people slaving away for employers and even having to beg for salaries to be paid. How can someone work for months, not get paid and nothing is done? It baffles me.

You'll see job advert, asking for you to have crazy qualifications and years of experience and they'll offer you 50k Naira a month lmao. You'll even hear people saying "if you don't take it, others will". They've already accepted stupid practices.


Mediocrity has become the norm. The day you move to a reasonable country and you take a look at the rights you have as a human being and how strictly these things are enforced, that's the day you'll know you're wasting your life away defending mediocrity and absolute BS in Nigeria.

Rich man will go to barracks, bring 3 soldiers to beat the crap out of you because you hit his car on the road and nothing you can do about it. Ah! Come and try it here lol.

Hello, What does Ekemezie mean. I may consider it if it carries a good meaning

Hello, What does Ekemezie mean. I may consider it if it carries a good meaning.

Phut:
@Dremca. This just crossed my mind. Aku also means wealth.

You know how people say “Aku na Uba”, right?

It literally means Wealth and Plenty. So take your pick.

#Udo

@backfornow, Thanks for creating this thread. Let's talk more about starting a business in the US

Yes, do contact me

Rafaelbeulah:
Hi am Ada. Am into properties and live in Abuja municipal area council.
Am looking into fruit farming...avocado and mango
Can i get cheap farmland to buy in Abatete and Uke

Please Seun, direct him to the children's department where he can play and rant with his peers.

youngmann:
Which stupid information? You and your goons have succeeded in ruining this thread. I can't even come on here without seeing your irritating post.
Not only on this thread, other US related threads too. Busy body.

Why do Nigerians hate information so much. Knowledge can be gotten through argument or what ever means.
What matters is that you learn something from it. Argument is not meant to show who is more correct or smarter but rather to get informed. Nigerians has the mentality that owns you know something and express it, you're being tagged, "ITK (I too know). No wonder the popular saying, "If you want to hide something from a Nigerian, put it in a book." How do you want to be successful without getting informed. No wonder the so called Nigerian millionaires and billionaires who crookedly got their wealth have no inspiring story to tell the younger generation of how they got their wealth.
What a country!!

CoolDipper:
Bros, ure derailing this thread with your "IRRELEVANT POSTS"

Since you know so much about "AMERICA" why not create your own thread and continue your over sabi there??

Just a suggestion. Thanks

Hustlers sighted

Yes I am. I will o much appreciate the info. I also want to know why few black show interest but n study and in startup.

Nig4Greatness:
...

well to each his own, there are people who make a living from gambling.

Please are you the one talking about IT startup in the previous pages,cant recollect those pages again,am a slow reader.. being away for couple of days.think i have some info for you.

Investing in stock market could risky especially during economic crisis except you're an inside investor like warren buffet who understood the game. Many Nigerians and americans lost their money during the 2008 market crash.

Backfornow:
Truth be told, I dont even understand traditional investing. I understand compound interest but that's it.

Investments can be in real estate, stock, bonds, gold or you can be an angel investor. To me the best investment are real estate.

Backfornow:
Truth be told, I dont even understand traditional investing. I understand compound interest but that's it.

I do not understand how it works and it doesn't have government backing from all apex banks in the world.

Backfornow:
Do you understand it? Bitcoins and cryptocurrency

You're a true Nigerian for helping fight corruption by stopping capital flight

AngelicBeing:
You are right, I had a small project to do the tiling few months ago, about 125sqm in total, a Togolese was recommended to me and he said 450naira / sqm, I told him to reduce the price, he came down to 350 naira, I finally got the job done at 250 naira / sqm by a young Yoruba guy in lagos, he was not desperate for the money but to give me job satisfaction, he did very well with the tiling and I went out of my way to compensate him handsomely, all his feeding for him and his boys for 3days was borne by me as well, the other building l have on ground will be handled by the same guy, very humble and he knows his onions, the Togolese guy later called me to see if I will give him the job, l told him to buzz off, I am not carried away by the fact that you are a Togolese

As regards real estate investment in Nigeria, am also into property consultancy. Feel free to reach via pm

Holocene:
Nope, I dont do all that bitcoin stuff. I put my money in stocks and in real estate back in Nigeria. Cryptocurrencies are just too volatile.
How many clients do you get in an 8hr shift on a daily average?

I'm marvel to see the artisan manual doing the seperator belt rather than being pre casted and is on the same line,
no mistake.

spyder880:
Lets add a separator belt on this house, because we also plan a two colour scheme for external painting. ........

Gambling is the fastest way to loose your income.

Backfornow:
The last time I went gambling, I spent $10. I looked around and saw the same look of hope on everyone else' s faces and so I quit.

Michael Blomberg can replace him.

Babyvet:
Even younger ones self are like him, impeaching him ain’t going to nothing , it’s not like there is a better person to replace him.

I use to watch his program, "Culinary Journey" on CNN, I felt bad when I got the news that he committed suicide.

Backfornow:
Speaking of travel blogs made me think of Anthony Bourdain.

Every spirit of gamble, die!!! How will I spend my sweat in gambling when there are investment to .

stonemasonn:
Arizona isn’t bad if you can handle the summer. Fuel is cheap there, you can drive into Nevada for the weekend to gamble in casinos