You have stumbled upon some money but you don't know what business to start with it. Well, lots of people have that same problem. You don't need to create a separate thread for that; just post your request/ideas here.

@seun well for me if i find myself in such a scenario, while waiting for an answer to what i'd do, i wud just take 90% of it and buy some stocks/shares and allow it build up instead of making it lie fallow.at least i wud generate some xtra cash on it b4 an idea(s) drops.

or better still give sum1 that knows what to do with it and charge her/him as loan and get interest, watever u do d money shudnt remain the same. it shud increase

Seun, i'll put 50% in to stock while the balance will be in real properties which may be plots of land. That is my idea anyway.

I need to start a website like nairaland
Seun please give me an idea for the cost
thanks

i also have some money and i am not sure what kind of business i can do with it, but most of the advice i have been given is to spend about 50% of fund in the stock market/funds management and real estate which i don't have much knowledge about.

i have been working all my life for various employers as a management/development consultant i.e planning, problem solving, monitoring and managing targets and performances. i.e key indicators

So as they always say in business its better to do what you know and the things you are passionate about for motivation.

I would have love to start my own consultancy firm providing free management and development support as this stage for recognition , but i am not sure where to start.

Any advice in the house

HELLO ,

Am a young guy men in Lagos, i just got few bucks and want some ides on what to spend it on , i need to make a good busines that will yeild good doo to get involved with .


Please help

Check out this website, they have a database of business ideas from all over the world. Could be useful to people looking for business ideas
www.springwise.com

@all
I agree with the suggestion that the money should be used to purchase stock (not IPO less you get your fund stuck for months) while searching for a business idea.

The right business idea is dependent on the need of people that you want to satisfy. So, instead of asking yourself what business to do, ask
1. What are the needs facing people around me? (Lack of portable water, Lack of good school, Lack of Flour mill etc)
2. Can I provide solution to those needs? (I can sink a borehole and sell water, I can open a nursery school, I can run a mill etc)
3. Are there enough people having the same need that will constitute a good market?
4. How much will I require to start this business?
5. How long will it take before I recoup my capital?
6. What are the potential risk involved?
7. More and More questions,

From the little I have shared above, you will noticed that it is foolish to jump into any kind of business just because people are doing it.

You need to do a little research and ask questions from those engage in similar activities. By so doing, you will save yourself from loss and heartache.

If you are interested in doing business online, you can check my post on that here http://naijaecash.com/2008/03/22/how-to-choose-an-online-business/
Even if you don't want to do business online, you can still learn one or two tips from the article. Cheers.

NaijaEcash:

@all

The right business idea is dependent on the need of people that you want to satisfy. So, instead of asking yourself what business to do, ask
1. What are the needs facing people around me? (Lack of portable water, Lack of good school, Lack of Flour mill etc)
2. Can I provide solution to those needs? (I can sink a borehole and sell water, I can open a nursery school, I can run a mill etc)
3. Are there enough people having the same need that will constitute a good market?
4. How much will I require to start this business?
5. How long will it take before I recoup my capital?
6. What are the potential risk involved?
7. More and More questions,

good points raised

Dear Nairalanders, I do not mean to be short, but you do not need to repeat what Seun has already written. It makes reading boring, and sometimes a waste of time. Just go straight to the point/solution. I see this repeatedly on various topics, that's why I thought I should say something. Some people have no contributions to make, they just find pleasure in rewriting the theme of discussion. This is not necessary. Thanks. Naijacutee, you're the babe jare.

hey nairalander's i have the same problem i need somebody to help i have what it take to set up a business but i don't no the kind of biz to do i need nairalaner's to help me

N3,000,000 to invest in Printing business in Lagos. Is it enough to start or not? Please advise.

Its ironic that while some people dont know what to do with their money, others have ideas but do not have money to implement them. I actually have ideas but i do not have the money to bring my dreams to reality.

tundebabzy:

Its ironic that while some people don't know what to do with their money, others have ideas but do not have money to implement them. I actually have ideas but i do not have the money to bring my dreams to reality.

whats d idea?not in full details doe so no1 steals it, maybe some peeps like me could partner with u or give some info of where to get a soft loan, thats if you're serious sha, halla

i dont have money, i want to get loan from the bank pls how do i go about this?

@Seun

Pls i'm interested. I have some money and i dont know what to do with it for now.

Thanking you in advance for your swift response.

Regards,

Jummy

@Seun
Koboland made a request, you are yet to answer. I would love to know the answer too. Thanks in advance.

I've always said it, that no knowlegde is wasted. And everyone has something he knows that can get him to where he's going. Every dog has its day. Just know what is your area of strength and competency, it may be a talent, skill, knowledge, or experience in something. You just know you are good at this thing.
Once you've discovered what it is, i can tell you what to do with it and how it can serve you. You can create your own opportunities from that thing, even start a business along that line. Believe in yourself.

Naijacutee your response was straight to the point. Thanks a lot of people can run with that immediately. Please lets post some more this straight forward answers. I need a business i can consistently make a minimum of N1000 daily please. Thanks folks!

hello,
there's already a thriving food-based business started in the last-quater of last year. We really need expansion and regulatory ratification. To fund this expansion, investors are needed to take up equity for a couple of years with a cash out option. Those interested could contact me on 234 8023016353. We could meet in an open place in Lagos where i'd show the product.

Hi,
please can anyone in the house help with details on how much you think it will cost me to start a community FM Radio Station in Nigeria, just serving a single state capital, Jos.
thanks.
I WILL APPRECIATE IT IF SEUN WILL PASTE THIS ON THE HOMEPAGE.

fixed odds trading and stocks. i cant do without those and the rest, i will invest it on my girlfriend, jummydada

If you got money and you don't know what business to get into. Give it to me I can spend it fast before you can think of something to use it on

hello,

i dont know if my idea will be okay, but i think one can buy fowls and be taking care of it, them when its christmas and new year time u can sell it. u know by them it will be very big and u can sell it like 1500 or 1200. i think that will bring some profit.

to do business if you got money you need to know what are you going to do you need to do as follow


- studying success possibilities
a) kind of Business
b) who will be the Consumer(customer)
c) how is the competion in the Market( same product,different Product, inflation, )
d) how will be the behavior of the consumer about the business (happy, Unhappy)
e) presentation of the businees to call attation of the consumer

- Capital invested security

A)do not invest a huge money to start the business as you are the bigginer Huge Capital waist of money and no revenue
B) plan your capital using Maximun and Minimun capital investment e.g if you want to invest 30,000 use 50% and the rest 50% devide per 4 trimesters increment 15 % per three months after running your audit report to see how business is going on

Calculation of Capital Asset

the first and important thing in business are asset equipment cost

you need to know what kind of asset equipment my business will need ( refer to daily maintenance,operators, fuel etc, )
computerizing my business( Machines, Aplication data base for control etc, )


Vendors and customes

if you need to use internal vendor where you need to procure your product, you need to plan how to get them what are the risk
if this for external vendor for importation you need to plan to know how you want to get in contact with those vendors ( by Mail, Email, travelling) because you need to create relation with those vendors for easy business running

you need to know how the shipment policy is, what kind of reliable shipping Angency i need, to get my product as safe as i want

they are many but here i think you got an idea

This is kinda cool cos I am in such a state as well. Starting a biz I think would involve you having a knowledge of the area you want to have ur biz. This could be a money saving idea cos as a starter you would have to do loads of things for yourself to reduce overheads. A deep knowledge of the area of biz must be known like the back of your hands.

One biz I am sure would never run out of customers in Nigeria today is food biz. We cannot have enuf of it and there are areas here that needs competition.

my dream is to set up a romance/lifestyle magazine in nigeria,pls can anyone give me an idea of the costs and what it ll entail as that has always been my dream after studies and its what i really want to do when i get back to nigeria.

skyee:

hello,

i don't know if my idea will be okay, but i think one can buy fowls and be taking care of it, them when its christmas and new year time u can sell it. u know by them it will be very big and u can sell it like 1500 or 1200. i think that will bring some profit.

i havnt done it before but i gave our gateman 50pounds like mid 2006 and like last year when i went back home he had like loads of chickens and even gave me 3 big ones when i got home last year which was really suprising , guess someone with a lot more money will do better but i think it needs a lot of time and dedication,medicines n co

We have poultries when I was growing up so I have a little knowledge of raising chicken. There are different categories of fowls, we have Hacos, Broilers, Layers, I don't remember the last one it's been a long time. Each of these categories grows at different rates therefore it is important to do home work on what type and what kind of results you are expecting. Also raising them will require having schedule on feedtime, when a vet doctor will visit and inorculate them against infections and also securing their cage against predators. Cleaning thier cage daily so that they don't eat thier feaces which is poisonous to them. It is very rewarding if you are ready to give it the time and efforts it requires.

to stumble on money is one thing and to indeed know what next is another thing, the best advice is, are u ready for the challenges ahead? most people come in contact with so much money at their disposal but unable to manage it effective and efficiently , so the best way to go about it, is to always have plans ahead in life so that one will not be found wanted when opportunity springs up, investing in stocks and shares are still the vry best bet, or to look out for some other legitimate online business.