₦airaland Forum

@op

You need to be specific on the types and quantity you have. Precious stones are so many that no genuine dealer can deal in all at the same time except scammers.

122patrick: You can invest in magazine publishing with me. This will give us 1 million a month. 50k to start. My no. Is 08128089401 for more details

It is unfortunate how people take advantage of innocent nigerians.

You claimed that your ''magazine'' can make
#1million per month and it will require just 50k to start, yet you can not raise that through your family and friends!!!

It is only a greedy fool that will give you any attention.

By the way how do you make such money from a magazine? I'd like to be tutored

I am aware that Ifeanyi Ubah is notorious for refusing to pay bank loans back in the time past.

Fidelity Bank had a terrible experience in their attempt to recover similar loans from him. The bank went as far as placing full page advert on the issue.

I doubt if they were successfully able to recover the loan from him.

Everyday is for the thief, one day is for the owner.

I think nigeria will do better without criminally minded businessmen.

If he is to be judged by his precedence, i am afraid he will stand no chance than to rot in hell.

Most senior executives in the banking industry can tell a thing or two about the man in question but i doubt if it could ever be positive.

We need genuine and honest business men and women, no more no less

@Dupsy,
I am almost certain that your absence for over a year implies that there is not much positive stories to tell. If indeed you have made your millions as expected, you should be kind enough to share your "Success stories" with us.

Hmmmm
Different strokes for different folks
Both groups are right. The manufacturers know that it is not possible to have 100% fault-free phones or any electronic gadget, hence they offer warranties to cater for the faulty ones.
I have bought quiet a lot of phones from both Slot and Affordables and none to date has developed fault of any kind. But I also have very close friends who have had very bitter experiences with Slot in particular perhaps because they are in the public glare.

My worry is that most companies tend to take their customers for granted once they begin to have high patronage. I am also aware that some of these companies staff perpetuate lots of fraudulent activities using the companies' platform.

I know some of them have been sacked in the past but some are still there.

Whatever the problem a customet may have, the after sales service is critical. Even if you are unable to satisfy the customer 100%, your disposition as a company through your staff (representative) who are usually hostile once a customer comes with complaints lives bad taste in the mouth.

If Nkemika had been given a fair treatment,, he may not have brought the issue here.

It is in the interest of companies regardless of any industry , to remember that the true boss is the customer who can make life miserable for the management and staff simply by spending their money elsewhere

The battle ground is in the mind. If you have nor won there, you cannot win it anywhere else - period!

And if per chance you lost it there, you may never understand or comprehend the message.

222Martins: Let those who want to doubt keep doubting. Robert Kiyosaki's book requires an open mind and a complete paradigm shift but unfortunately, most people are vehemently resistance to change.

It's amazing to read how my people react to such a simple issue.

I. have read his books and I found them invaluable. Ten different people can read a book and it could have different impact on them. It all depends on the mindset.

More importantly, I don't think Robert Kiyosaki infallible, he is like every other being -not perfect. He is human and he could have temporary or permanent set backs if God wishes. He has not claimed to be God in anyway.

Wealth is a grace from God and He alone can give or take it from whomever He so desire. Ofcourse you are expected to play your part in the equation.

I am forever grateful to him because I made up my mind to start the gsm business in 2002 three days after I finished the book and I made 10yrs my salary within 3months of resigning! I learnt a hard fact that no matter how hard I work as an employee, i would still be a "rat in the rat race only helping my employer to get richer" His principles may not work for some , just like drugs, but it did for a whole lot of us.

For me I am not interested in whether or not he is personally broke. so what if he is? I am looking forward to his next book regardless of what people may say. Thomas Edison was reported to have told people who were curious about his persistent failures that he laernt how not to do it from each failure until he learnt how to do it when he finally succeeded.

I have seen marriage counsellors that had problems with their own marriage, yet their advise helped others with marriage problems to overcome theirs. Does this make them fraudulent?

One of my mentors has an unfortunate son who is always interested in stealing from his father, the guy is never interested in doing anything aside from watching and discussing about Man United ( his favourite club). But the father is so nice he will do anything to help other children in his neighbourhood succeed. Should we condemn him because of the attitude of his son? I also know several medical doctors who are chain-smokers and yet very good and competent. Should they not practice what they preach? I can go on and on.

"Oju a ma ti babalawo ti omo re ku ni Osan gangan" se ewe ni ko ri ja ni abi egbo? Sometimes, an herbalist whose child chooses to die in the afternoon is put to shame. Is it the roots or leaves that he is unable to get to rescue his child?

The reality sometimes is outside your control, a marriage counsellors may discover that the husband is utterly incorrigible, same for the lay-about son. We should not look for perfection in humans.

Donald Trump and several billionaires in America and world over have at one time or the other lost everything and some got back and even better while some never recovered.

Even in Nigeria, we know that most so-called successful bizmen in Nigeria are using some of his principle albeit wrongly through taking unsecured loans from the banks (OPM) Other peoples money.

Those who struggled daily to survive should look within and work on their mindset. An open mind to issues always help.

: How To Discover a Winning Business
Idea

I can't but wonder why some people find it difficult to come up with an idea of their own. If indeed you are better-off giving birth to your biological child than wanting to adopt others children especially when there is no indication that you are infertile. Same with ideas. People are eager to post request for ideas as if it's "One cap fits all"

What works for Mr A, may be a disaster if Mr B tries it . And 1000 and one reasons could be attributed for differente outcome. Therefore, Nathan than expect a "Sure banker" idea as the pool bettors will say, you can do a better job of it yourself.

Business ideas are all around you. Some business
ideas come from a careful analysis of market trends
and consumer needs; others come from serendipity.
If you are interested in starting a business, but
don't know what product or service you might sell,
exploring these ways of getting business ideas
flowing will help you
choose.

1) Examine your own skill set for business ideas.
Do you have a talent or proven track record that
could become the basis of a profitable business?
The other day I spoke to a man who had spent years
managing cleaning services at a hospital. Today he
runs his own successful domestic and business
cleaning service. An ex-logger I know is now making
his living as an artist; he creates "chainsaw
sculptures" out of wood. And the examples of
professionals who have started their own agencies or
consulting service businesses are legion.
To find a viable business idea, ask yourself, "What
have I done? What can I do? Will people be willing to
pay for my products or services?"
2) Keep up with current events and be ready to take
advantage of business opportunities .
If you read or watch the news regularly with the
conscious intent of finding business ideas, you'll be
amazed at how many business opportunities your
brain generates. Keeping up with current events will
help you identify market trends, new fads, industry
news - and sometimes just new ideas that have
business possibilities.
For instance, there are now also entrepreneurs who are
selling tourist travel packages

3) Invent a new product or service.
Think back 30 years ago. Was there a huge demand
for anti-virus software, Internet Service Providers,
or desktop computers? No! The key to coming up with
business ideas for a new product or service is to
identify a market need that's not being met. The
clamor for ever-increasing security, for instance,
has led to an explosion of new security products and
services, ranging from iris-recognition machines
through home security services.
Look around and ask yourself, "How could this
situation be improved?" Ask people about additional
services that they'd like to see. Focus on a particular
target market and brainstorm business ideas for
services that that group would be interested in. For
example, there are millions of childrens across
Nigeria. What products or services could you
create that would enable them to grow, play, study
more easily and live better?

4) Add value to an existing product.
The difference between raw wood and finished
lumber is a good example of putting a product
through an additional process which increases its
value, but additional processes are not the only way
value can be added. You might also add services, or
combine the product with other products. For
instance, a local farm which sells produce also offers
a vegetable delivery service; for a fee, consumers
can have a box of fresh vegetables delivered to their
door each week.
What business ideas can you develop along these
lines? Focus on what products you might buy and
what you might do to them or with them to create a
profitable business.
Continue to the next page, to read more ways of finding
business ideas.

entrepreneurial frame of mind, you'll see that finding business ideas is just as easy as finding leaves on trees. Here are more ways you can generate business ideas:

5) Investigate other markets.

Some business ideas aren't suited to local consumption - but appeal greatly to a foreign market. My own little village is surrounded by acres of wild strawberries. For years the bushes produced berries that mainly fed by birds; B.C. has a thriving strawberry industry that doesn't leave room for a wild berry market. But one entrepreneur realized that there is a high demand for products such as these in Japan - and those same wild berries are now being harvested and shipped. Finding out about other cultures and investigating other market opportunities is an excellent way to find business ideas.

.6) Improve an existing product or service

.You know what they say about the person who builds a better mousetrap. That person could be you! A local entrepreneur has created an improved version of the hula hoop; it's bigger and heavier so hula-hoopers can control it more easily and do more tricks. How did she come up with this business idea? She thought hula hooping would be a fun thing to do with her daughter, but found the commercially available product too flimsy.There are very few products (or services) that can't be improved. Start generating business ideas by looking at the products and services you use and brainstorming ideas as to how they could be better.

7) Get on the bandwagon!
Sometimes govt policies may necessitate a sudden demand for a product or service. i.e. Okada and crash helmet. Likewise markets demand for certain products or services may surge for no apparent reason; masses of people suddenly "want" something, and the resulting demand can't be immediately met. For example, during the SARS epidemic, there was an insatiable demand for facial masks in several countries - and many entrepreneurs capitalized on this business idea.A "bandwagon effect" is also created by larger social trends. There is much more of a demand for properties than 20yrs ago.Look at existing businesses and the products and services they offer and determine if there's a need for more of those products or services. If there is, develop business ideas to fit the market gap. Are you brimming with ideas for starting a business now?

Write your business ideas down. Let them swirl around in your head and coalesce. And keep an open mind and continue to assess everything you read and hear from an entrepreneurial point of view. You don't want to run with the first business idea you think of; you want to discover the idea that's best suited to your skills and desires. Dream, think, plan - and you'll be ready to transform that business idea into the business you've always wanted.

Really. Once you develop an entrepreneurial frame of mind, you'll see that finding workable business idea is very easy.

Best of lucks to all those in search

Finding and Mastering a Niche Market

Niche Marketing Can Be Your Ticket to Success
By Susan Ward

One common path to success for many small businesses is establishing themselves in a niche
market . Because no matter how hard they try, no large retailer can be all things to all people, there
are always going to be segments of the population whose needs for particular products and/or services are going unmet – leaving room for the small business to succeed by meeting those needs.
So how can your small business capitalize on these unmet needs and find and dominate your own niche market? Concentrate on these four basic concepts for niche marketing success:


1. A unique product or service. For starters, if you’re going to master a niche market, you need to have a unique product or service. Ideally, you want to be the only one selling what you’re selling.
The trick to coming up with such a product or service is to look on the fringes for unmet needs. For example, one East Coast entrepreneur's business consists of creating hand-made medieval outfits.
Large retailers and even shops specializing in costumes don’t supply these types of garments.
Don’t forget that processes can be products as well. They're ubiquitous now, but someone once looked at an inkjet printer cartridge and came up with the idea and the process for refilling them. Need help getting started with this sort of idea spotting?

2. A marketable product or service.
You can create all kinds of wonderful and valuable products or services but if no one wants what you’ve produced, what’s the point? Maybe there’s no one selling fried insects from a vending kiosk on your street, but that doesn’t mean it’s a good idea. The niche market of people who enjoy eating fried insects in this country may be iso small (If any )they wouldn’t even fill a phone booth.

There has to be enough of a demand for your product or service for your business to make a profit. How do you find out? By trial and error or by conducting extensive market research. I, of course, recommend the latter. If you want to know if there’s a market for dog coats, bamboo, flooring or counseling for the Blackberry addicted, the best way to find out is to get out there and ask. Making or buying a lot of something and throwing up a Web site to see if there’s any interest in what you’re doing is for people who don’t want to make money .

3. Choose a niche market that’s available. Remember, niche markets tend to be smaller so there’s only room for so many players. When it comes to niche marketing, if you try to jump on a bandwagon, you’re only going to fall off the back.For instance, I mentioned the niche market for
marriages cou selling. Before you start such a business yourself, you would certainly need to carefully research the competition and the size of the market to see if a
new business in this niche would be viable. It might well be better to find a different niche in the marriage or singles markets and make that niche your own.

4. Market, market, market.
Marketing is perhaps more important for niche market businesses than for any other kind, because the niche market business is by definition, unknown and succeeds or fails on making the connection with exactly the right kind of customer/client. If I open a Starbucks, for example, people know right away what
that business is about and what kinds of products to expect. And because Starbuck’s market is “anybody who likes coffee”, they really don’t have to worry
much about advertising at this point in the game.

But if I open a business providing naturopathic treatments for pets, selling tub/shower conversions for the elderly or providing virtual assistant services
to professional speakers, to give just three examples, people won’t know what to expect or even that my niche business exists at all unless I make the effort
to reach and educate them.

So market, market, market – and once you have a customer or client, make contact on a regular basis.

A unique product or service that will fulfill the, unmet needs of a specific group of people – that’s niche marketing in a nutshell. If you apply all of the four concepts above, your small business will enjoy the powerful competitive advantage that mastering a
niche market provides.

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

@ whatalife

I honestly have not done the biz of extracting vegetable oil from groundnuts or soybeans but I know you will succeed better if you site the plant nearer to the source of raw materials.

You will need to pay a visit to those states in the north where d raw materials are in abundance. The outcome of your research will help you make informed decision. remember that these items are seasonal so you will need to stock enough during glut. Best of luck

@ all
Service industry or trading of consumables is a good start and a better
stepping stone for a green-horn with limited capital and experience.

If you are desperately searching for a biz of your own, why not start an
independent marketing firm that could help others sell their products or
services. Companies are looking for people who can help them sell their
products and services for a fee or commission.

Get good e-books on sales and
marketing strategies, identify a product, analise the potential buyers
demographically, geographically using the 4ps-Product, price, place and
promotion and connect the dotted lines. Or you can help companies source for
raw materials at reasonable price.

[color=#000099][/color]@page9 what challenges did you have in the eatery business? I'm involved in
that field as I'm trying to diversify from the IT I'm into now so I need to
know what and what can happen down the line apart from unnecessary levies,
staff theft, food preservation, poor attitude of sales staff, quality control,
advertising and diesel costs I'm facing now

my dear brother, my opinion borne out of experience is that "all other things being equal" you can succeed better in a biz with less labour inputs in Nigeria because the human factor is critical. Unlike other factors of production, labour is most unpredictable. The labour input usually shoot up your overheads far more than other factors whether or not there is sales, you have to pay the salaries. It's not funny at all when you have to keep paying all sorts of bills when sales are terribly bad.

I don't want to discourage people but you need lots of cash to maintain, sustain and manage eatery to a successful brand. More importantly, the business requires you to get involved or get a "trust-worthy and dedicated manager " which is pretty hard to find. Therefore, if you don't have the above, or you don't know how to get around these challenges, then you need to think it through.

For me, I am currently married to oil industry and I don't think I can pursue so many businesses at the same time, what I do now is to be selective in businesses that would not require heavy physical or financial structure, lean labour force, mostly contractual so I don't have to worry about too much overheads. That's why export seem to fit into my specification.

Service industry or trading of consumables is a good start and a better stepping stone for a green-horn with limited capital and experience.

If you are desperately searching for a biz of your own, why not start an independent marketing firm that could help others sell their products or services. Companies are looking for people who can help them sell their products and services for a fee or commission. Get good e-books on sales and marketing strategies, identify a product, analise the potential buyers demographically, geographically using the 4ps-Product, price, place and promotion and connect the dotted lines. Or you can help companies source for raw materials at reasonable price.

We no doubt made good money from gsm business while it lasted.

But much later, the boys selling the recharge cards were becoming smarter. After selling the recharge card we gave to them, some of the boys would use the money made to buy elsewhere from our competitors. The competitors were not willing to sell on credit but were prepared to give a slightly better discounts compare to the commisssions we were paying.

Consequently, the sales dropped, some boys made away with our money. But all in all, the risk we took was highly rewarding because the losses altogether should be less than 2%. Thereafter, we changed strategy, by setting up branches in populated areas of Lagos positioning foot soldiers who were selling directly to phone call centers and recharge cards bulk buyers in each local govt and sales moved up again but by then we had far more players in the industry. Also, the network providers slashed the margins, it was becoming difficult to maintain our profitability at the level we were used to.

I left the business when the robbers were attacking gsm dealers regularly. Two of my fellow dealers were attacked and their entire capital wiped out. The unfortunate part is that most of the informants of these robbers were staff of the dealers. Then it was cash and carry because the banks were not as efficient as now. No one will pay into any customer's account. Some other staff will collect fake money. If an amount up to N2000 came in fake notes, it will require us to sell up to N100, 000 worth of Econet cards to recover the loss, hoping there will be no fake note within the N100k. It was that bad then.

We were beginning to loose our capital gradually because of multiple challenges. It was obvious we needed to quit and we did just that.

I trained a lot of people in the gsm biz, some of who are still in the business now but most are complaining that the biz is a shadow of what it used to be.

@saxywale

It is a bit difficult for me to agree or disagree with your assertion because I don't have an idea of the current situation aside from what I hear everyday. But if you intend to go into d biz, lower your expectation, expect the worse while hoping for the best.

Thereafter, I went into bakery and eatery biz under a brand name "megaspices" but it was a disaster. I also went into processing and packaging of Ofada rice for local and international mkt but the retailers were not paying. when I had to deposit money before the farmers can harvest for me, after doing all the "wahala", to get it down to the market stories will still follow.

I did quite a lot more biz, time and space will not allow.

I finally settled for oil business after going through the mill with lots of "bruises" and six years down the line, we are still waxing stronger and we are now planning to diversify into into export of agricultural products and solid minerals. I do not believe in importation except when the goods are essentials with no local substitutes because we cannot grow as a nation if we depend on others. Our goal is to export our own company products in the nearest future atleast to the Ecowas first before taking on the rest of the world.

I believe it's time we formed a new generation of Nigerians who will think of Nigeria first in all our dealings.

I am available for questions and advise for those who think I can be of help to them. post your questions here and I will respond asap.

apology to you all for repeating my last post making it pretty difficult to read.

It was an error on my side

The essence of telling my story is to show people that " It is doable"

I make specific mention of locations, time and events surrounding the story to drive home the point

God-willing, I hope to conclude the story by the weekend

Now, after graduating from the school in 1996/1997, i served in Adamawa state, shelleng local govt to be precise. I don't know as of now but then, there was no electricity in the entire local govt and trucks only come to the village once a week on market day usually every friday. Hope things have change now. I wanted to go into foodstuffs biz like beans, maize, etc then but the structure and distance discouraged me after due diligence was conducted.

I got a job with a computer firm in Ilupeju, right from when i was given the employment letter, i knew i was not going to stay long. But i was willing to learn from my boss and wait for my breaktbrough opportunity to come. I was also reading every book on business that i could lay my hands on including Think and Grow Rich, how to win and influence people, "Rich dad Poor dad" by Robert Kiyosaki.

After reading the "Rich dad Poor dad" my mind was made up to start my biz but like most employees, the fear of unknown wouldn't let me. Then i was earning a monthly salary of N13, 500 while my contemporaries were earning N70k and above. I was notbothered becausei knew i was iworking to learn and not to earn.

After much reflection, i decided to rent a shop in maryland, opposite mobil petrol station beside wema bank plc with all the money i save to start the gsm business. Those were the early days when we were selling sim card for 20k per unit and talkabout phone for N15k. I. was luck to employ a very dedicated salesgirl paying her N8, 500 while i earn N13, 500 myself. At the end of the month, i will be left with N5, 500!

The logic of this strategy is to test the water first before taking the plunge. The shop strategy did not work as expected but rather than quit, i changed the marketing strategy by deploying about 20 boys to major traffic prone areas in lagos from cms,P&T, Ojuelegba bridge, maryland-bank anthony etc to sell recharge cards in traffic. The boys were paid on commission not salary.

Within 3months of the new strategy, we had over N1.5million naira in net profit. Those days we only had MTN (N1, 500) and Econet (N1, 000) as highest and lowest denominations. I realised i have made about Ten years salary within 3months!

When i tendered my resignation letter, my boss was asking me how much were they offerring me where i was going, boasted he could double the pay. I just laughed. That was the last time i collected pay check from any one till date.

There were challenges no doubt but i my dtermination was far greater than any problem that could come my way. For instance, i had barely N300k then and each of the two network providers expected us to deposit N5million naira each to be appointed as a dealer. I met a friend working in Econet then who was helping me to buy my stock under a dealer's name till i could raise enough money.

Secondly, i was buying Econet cards on behalf of another dealer who was an accredited dealer with MTN. This strategy became necessary because you get discount based on volume you buy, instead of me to buy little of the 2 networks, i would buy only Econet for all members of my alliance while the other man. would buy on our behalf. That way we were getting better discount then.

Right now, i have left the gsm biz but will continue the story, may be tommorow God willing[i]Now, after graduating from the school in 1996/1997, i served in Adamawa state, shelleng local govt to be precise. I don't know as of now but then, there was no electricity in the entire local govt and trucks only come to the village once a week on market day usually every friday. Hope things have change now. I wanted to go into foodstuffs biz like beans, maize, etc then but the structure and distance discouraged me after due diligence was conducted.

I got a job with a computer firm in Ilupeju, right from when i was given the employment letter, i knew i was not going to stay long. But i was willing to learn from my boss and wait for my breaktbrough opportunity to come. I was also reading every book on business that i could lay my hands on including Think and Grow Rich, how to win and influence people, "Rich dad Poor dad" by Robert Kiyosaki.

After reading the "Rich dad Poor dad" my mind was made up to start my biz but like most employees, the fear of unknown wouldn't let me. Then i was earning a monthly salary of N13, 500 while my contemporaries were earning N70k and above. I was notbothered becausei knew i was iworking to learn and not to earn.

After much reflection, i decided to rent a shop in maryland, opposite mobil petrol station beside wema bank plc with all the money i save to start the gsm business. Those were the early days when we were selling sim card for 20k per unit and talkabout phone for N15k. I. was luck to employ a very dedicated salesgirl paying her N8, 500 while i earn N13, 500 myself. At the end of the month, i will be left with N5, 500!

The logic of this strategy is to test the water first before taking the plunge. The shop strategy did not work as expected but rather than quit, i changed the marketing strategy by deploying about 20 boys to major traffic prone areas in lagos from cms,P&T, Ojuelegba bridge, maryland-bank anthony etc to sell recharge cards in traffic. The boys were paid on commission not salary.

Within 3months of the new strategy, we had over N1.5million naira in net profit. Those days we only had MTN (N1, 500) and Econet (N1, 000) as highest and lowest denominations. I realised i have made about Ten years salary within 3months!

When i tendered my resignation letter, my boss was asking me how much were they offerring me where i was going, boasted he could double the pay. I just laughed. That was the last time i collected pay check from any one till date.

There were challenges no doubt but i my dtermination was far greater than any problem that could come my way. For instance, i had barely N300k then and each of the two network providers expected us to deposit N5million naira each to be appointed as a dealer. I met a friend working in Econet then who was helping me to buy my stock under a dealer's name till i could raise enough money.

Secondly, i was buying Econet cards on behalf of another dealer who was an accredited dealer with MTN. This strategy became necessary because you get discount based on volume you buy, instead of me to buy little of the 2 networks, i would buy only Econet for all members of my alliance while the other man. would buy on our behalf. That way we were getting better discount then.

Right now, i have left the gsm biz but will continue the story, may be tommorow God willing[/i]Now, after graduating from the school in 1996/1997, i served in Adamawa state, shelleng local govt to be precise. I don't know as of now but then, there was no electricity in the entire local govt and trucks only come to the village once a week on market day usually every friday. Hope things have change now. I wanted to go into foodstuffs biz like beans, maize, etc then but the structure and distance discouraged me after due diligence was conducted.

I got a job with a computer firm in Ilupeju, right from when i was given the employment letter, i knew i was not going to stay long. But i was willing to learn from my boss and wait for my breaktbrough opportunity to come. I was also reading every book on business that i could lay my hands on including Think and Grow Rich, how to win and influence people, "Rich dad Poor dad" by Robert Kiyosaki.

After reading the "Rich dad Poor dad" my mind was made up to start my biz but like most employees, the fear of unknown wouldn't let me. Then i was earning a monthly salary of N13, 500 while my contemporaries were earning N70k and above. I was notbothered becausei knew i was iworking to learn and not to earn.

After much reflection, i decided to rent a shop in maryland, opposite mobil petrol station beside wema bank plc with all the money i save to start the gsm business. Those were the early days when we were selling sim card for 20k per unit and talkabout phone for N15k. I. was luck to employ a very dedicated salesgirl paying her N8, 500 while i earn N13, 500 myself. At the end of the month, i will be left with N5, 500!

The logic of this strategy is to test the water first before taking the plunge. The shop strategy did not work as expected but rather than quit, i changed the marketing strategy by deploying about 20 boys to major traffic prone areas in lagos from cms,P&T, Ojuelegba bridge, maryland-bank anthony etc to sell recharge cards in traffic. The boys were paid on commission not salary.

Within 3months of the new strategy, we had over N1.5million naira in net profit. Those days we only had MTN (N1, 500) and Econet (N1, 000) as highest and lowest denominations. I realised i have made about Ten years salary within 3months!

When i tendered my resignation letter, my boss was asking me how much were they offerring me where i was going, boasted he could double the pay. I just laughed. That was the last time i collected pay check from any one till date.

There were challenges no doubt but i my dtermination was far greater than any problem that could come my way. For instance, i had barely N300k then and each of the two network providers expected us to deposit N5million naira each to be appointed as a dealer. I met a friend working in Econet then who was helping me to buy my stock under a dealer's name till i could raise enough money.

Secondly, i was buying Econet cards on behalf of another dealer who was an accredited dealer with MTN. This strategy became necessary because you get discount based on volume you buy, instead of me to buy little of the 2 networks, i would buy only Econet for all members of my alliance while the other man. would buy on our behalf. That way we were getting better discount then.

Right now, i have left the gsm biz but will continue the story, may be tommorow God willing

@bigX

I am afraid it is the same with most if not all employers in Nigeria.

Little wonder why the Indians and Chinese will prefer to lock Nigerians up inside the factories.

I have quite a lot of them here as friends, they constantly complain about the desire of most employees to steal at the slightest opportunities.

For me, I employ the use of technologies such surveillance cameras everywhere, attendance recording machine to record days and time each staff report for work. The machine recognises every staff by their fingerprints. I constantly plant few loyal staff among the crooks .

But the presence of the cameras everywhere is the best method to deal with people within the office or factory depending on the nature of your business.

Outside office? you may need to document all activities and cross-check regularly. Most people complain about the employer but some do not even want to work rather they are looking for an opportunity to destroy the business.

This has nothing to do with salary. There was a case of my personal assistant that had a deal with one of our competitors to sell company secrets and vital information on products formulations and business strategies for a million naira!!!

This Longman's salary was increased by 300% within 2years!

He was one of my trusted hands, but most will sell out for next to nothing. I got to know when he took those people to one of our suppliers. The supplier hinted us and we had people monitoring his activities till we got him.

Those people out-smart him, they gave him advance of N100k as first instalment but never gave him anymore so we were told when he came back begging that "it was the work of the devil".

As an employer I have developed a thick skin. Now, I expect the worst while hoping for the best from any staff. There are plenty bad people out there always looking for work.

If you can try check the background of your staff both new and old staff. It does help to avert potential problems.

will be back later to continue with my journey in the biz world
.

well, I urge people telling their stories to go a little further by mentioning the industry or sector where they operate (not necessarily specific ) so they can encourage other people who might be thinking of venturing in similar or allied sector.

secondly, if the truth must be told, not everyone is actually cut-out for business. I say this based on everyday experience as an employer. Some graduates have impressive qualifications but are so unimaginative that you have to tell them everything to be done.

Therefore, before you take the plunge, get about 5 independent mentors who have been in self-employment for long to assess you objectively. You must also have passion and drive to beat successful entrepreneur . You either have the traits in you, which you can decide to develop over time or you learn about it and develop a "goat mentality " for success until you get it right because failure will surely visit you on the way. it is inevitable.


About my experiences, I started-off in business about 21yrs ago, then in my first year on campus.OAU-Ile-life. I made two units of suede shoes from a cobbler somewhere in Alagomeji-yaba, Lagos. And I realised each time I wear any of the shoes, people kept asking me where I got it from, I told them I made it, some were willing to drop money for me to get it for them.

Initially, I did it for free, but at a point, I turned it to biz, while going to campus, will use all my allowance and every money on me to buy different designs. Then I was buying a pair for N85 and selling for N150 then, it was a lot of money. Through out the session never had cause to ask for money from home. Then no gsm, only nitel. I used to call my younger brother to collect money on credit from my mother go to the cobbler, collect the shoes and bring to campus and I usually return the money immediately he showed up.

The issue then was, you could not pay to someone's account as it is done now.

After doing that for about 3yrs, we were sent home by the school authority over the June 12-Abacha imbroglio.

In 1994, after sitting at home for over a year due to the refusal of Abacha govt and ASUU, I decided to venture into pure water biz.

we started with 2 sealing machines borrowed from two friends. I also had some money saved from my campus biz totalling N16, 000 . That was about 18yrs ago, there was no automatic sealing machine then. Everyone then was using impulse sealing machine. Infact only 4 companies were producing pure water then and it was only in lagos. We were the fifth, within 3months of production, we had already hit net profit of N1million!!!

But shortly after that, the ASUU people resolved their problem and we had to go back to campus. I was tempted to abandon my university education but my parents would not hear of such so off I seatback to school. I had the challenge of getting a competent hand to manage the biz . I finally settled for a younger brother of a close friend. Within a month, the mismanaged the biz, the report I had was he went on spending spree, never showed up , andwhen he did, it would be to collect the money made for the day. That was how the business ended. It almost affected my academic study when I heard the news.

I hope I am not boring you all with my story?

Now, we are into oil and oil related industry, our factory is around Amuwo odofin industrial estate is worth over N200million now

I will continue when time permit . I have a meeting about now

@jbon

It is your right to believe whatever suits you.

Lots of Muslim organizations have disassociated themselves and condemn the Boko haram group and its activities. But the media is not interested in such news. No right thinking Muslim will support Bokoo haram. But most people here choose to hide under the pretext of condemning Bokoo haram to run their mouth by passing derogatory comments on other's faith.

Does it mean that Christianity has monopoly of good faithfuls?

Boko haram is a passing phase and it will soon become history. for those who are old enough, we once had Maitazzini group and the likes in the past.

Just because of sudden advent and madness of undesirable elements under the name of Boko haram (less than 3yrs) . Now, the culprit is Islam and all muslims.

Muslims are open to constructive and genuine criticisms but biased and unwarranted comments born out of ignorance and mischievousness will do no one any good.

With the exception of a few, I have checked some of the past posts of some people here on this thread and I realise it is a waste of time to engage such characters in reasonable conversation.

Therefore, I am not inclined to respond anymore

can you send the pics to my mailbox? didebayo@gmail.com
which of the accessories do you still have?

I think there are loads of threads on purewater business.

Type "pure water business" in. Local search engine. Or type kabaka he coordinates the thread

Goodluck

@Rachel Wang

I also believe you should help those who want to export get reliable buyers in. China.

Must we always be the. Importers and the buyers? Can't we also export and be the sellers thereby earn foreign exchange.

I think it will be a win-win.situation if we can also do more of selling.

Rachel, please help us. Identify.reputable companies that buys any of the following items in. China

Solid minerals such as lead ore, zinc or copper ore etc

Agricultural products like ginger, garlic, sesame seed, hibiscus flowers, cassava chips,, bitter kola, kolanut, sheabutter, and many more that are abundantly available here. You will make more money if you look at this direction too.

Incase you interested, you can send me a mail. On. didebayo@gmail.com

@passionate88

My post was meant to enlighten and point out the real issues but I can't force you to accept my position and for whatever it is worth, I won't join issue with you because I have more important things to do with my time.

When you tell people that they are lying because they don't see things from your perspectives, it only shows your personality and fixated mindset. Telling me that you over heard an imam in one kasua ndere talking rubbish as your evidence that all Muslims are guilty as charged because the so called imam you mentioned ask everyone in his congregation to fight for sharia.

For me, I am bothered about the needless deaths of my fellow Nigerians be it Muslims or Christians.

Those who find it convenience to pass derogatory commnets on Muslims and Islam because of the evil acts of boko haram are doing that either out of ignorance or just being mischievous.

@ jettage

you are so sure you understand the distorted verses you quoted out of content better. hmmmm.

what more can I say. I bet the forum is available for all manners of people. i guess that is democracy in action!

@passionate88

I didn't' post for you to enjoy.

The truth of the matter is that whether Muslims or Christians, those deaths were needless. Human lives should be sacred and preserved. I expected reactions to my posts because the truth is bitter. But, I'd like to ask you where you''re based and if you''ve travelled to the north lately? If you get 100% of you information through the media, then i will not blame you. But those who reside in bauch, borno, gombe etc which i have visit regularly will tell you that these bastards care less about your faith when they carry out their attacks.

Let us unite(Muslims and Christians) against the EVIL BOKO HARAM! Let us stop attacking each h other's religion lest we play into their hands and help them fulfill their objective. We shall not allow them to break the country because we have no where to go to if they succeed (God forbid).


Indeed, it is true that they tend to target the church more but that is with the aim of turning muslims against christians and make the country ''un-governable". The truth is bitter but for those who can see beyond their nose, The Boko Haram was never part of Nigeria until Jonathan came to power. Believe it or not, the leadership's ship of this organisation believe that turning Muslims against the Christians is the easiest way to break Nigeria.

@ taharqa

I don't think the terrorists the world over are up to one percent of the Muslims. In Nigeria, bok har am members are not easy to identify because they are clandestine organisation. In Gombe state where I just came back recently, a fellow Muslim and his entire family member was wiped out by the sect for suspecting the man to be a JTF informant. Most people are afraid to talk about them let alone make any move. Attorney general of borno state was killed by the same bastards last week or so?

The north as a region stands to loose more and more as people who can help develop the region leave in droves. Remember the united nation building bombing? How do you connect that to religion? What has the authorities. done with those members arrested to date?

The media sometimes paint multiple pictures of the same event. While channels tv said only the suicide bomber died, some said 20 people while BBC said 2 people died. The bottom line is no life is worth sacrificing over mundane things as political power.

@passionate88

I didn't' post for you to enjoy.

The truth of the matter is that whether Muslims or Christians, those deaths were needless. Human lives should be sacred and preserved. I expected reactions to my posts because the truth is bitter. But, I'd like to ask you where you''re based and if you''ve travelled to the north lately? If you get 100% of you information through the media, then i will not blame you. But those who reside in bauch, borno, gombe etc which i have visit regularly will tell you that these bastards care less about your faith when they carry out their attacks.

Let us unite(Muslims and Christians) against the EVIL BOKO HARAM! Let us stop attacking each h other's religion lest we play into their hands and help them fulfill their objective. We shall not allow them to break the country because we have no where to go to if they succeed (God forbid).


Indeed, it is true that they tend to target the church more but that is with the aim of turning muslims against christians and make the country ''un-governable". The truth is bitter but for those who can see beyond their nose, The Boko Haram was never part of Nigeria until Jonathan came to power. Believe it or not, the leadership's ship of this organisation believe that turning Muslims against the Christians is the easiest way to break Nigeria.

@jettage

You are obviously "an expert in Islamic knowledge".

There is no way we can have a united Nigeria if we all go about copying and pasting lies about each other's religion. The issue of boko Haram deserves the attention of all well-meaning Nigerians regardless of which faith you practise. But when people leave the substance and go after the shadow, then it leaves a sour taste in the mouth.

All your quotations are blatant lies and I challenge you to a face to face debate on this. Lifting a verse out of contents or distorting the truth is a trademark of some Christians using the internet to mislead the people. There are many of such sites that we know. Using the excuse of boko haram to discredit other's faith is not the ideal way to go about it.

As Muslims, we pray to see the end of evil organizations such as Boko haram very soon and all those behind them shall be put to shame. We also pray that may those souls (Muslims or Christians ) that have departed as a result of the evil acts of Boko Haram rest in peace.

@jettage

You are obviously "an expert in Islamic knowledge".

There is no way we can have a united Nigeria if we all go about copying and pasting lies about each other's religion. The issue of boko Haram deserves the attention of all well-meaning Nigerians regardless of which faith you practise. But when people leave the substance and go after the shadow, then it leaves a sour taste in the mouth.

All your quotations are blatant lies and I challenge you to a face to face debate on this. Lifting a verse out of contents or distorting the truth is a trademark of some Christians using the internet to mislead the people. There are many of such sites that we know. Using the excuse of boko haram to discredit other's faith is not the ideal way to go about it.

As Muslims, we pray to see the end of evil organizations such as Boko haram very soon and all those behind them shall be put to shame. We also pray that may those souls (Muslims or Christians ) that have departed as a result of the evil acts of Boko Haram rest in peace.

I have read through all the posts so far on this thread and I can't make any sense of any. What I see largely is a
set of uninformed Nigerians.

I do not in anyway think Book Haram as an organization represent Islam or Muslim in anyway. I am a Yoruba man and a Muslim. My immediate elder sister is a Christian and her children stays with me and still go to church and practise whatever suits them. 100% of my employees are Christians except my driver. A good number of them are from south-east and south-south. I bet you all have interacted with good Muslims either as a neighbour, colleagues, business partners etc . There are bad Christians too and a sweeping generalisation of every Muslim, passing derogatory comments about Allah and Prophet Mohammad is not expected of anyone who has objective assessment of the true situation of things

As for the Arab world, the information out now shows that some of the Ghadafi loyalists carried out the attack against US consular leading to the death of the U.S ambassador Bengazi. For those of who care to observe, Muslims differs according to location. While Islam is a universal religion and is the same all over the world, Culture and environment and possibly education affects to a large extent the personality of Muslims. in different regions (same for Christians or other adherents of different faiths too). I can speak better for my area (South-west).

Now, back to boko haram, more Muslims have died than Christians since the advent of boko haram. I visit the north often and I know that. The same boko Haram sent a suicide bomber to attacked shehu of Borno some weeks back during a Friday Prayer and the shehu narrowly escape death leaving some worshippers and the young suicide bomber dead. Boko Haram as it is today is a political organisation out to discredit the Jonathan govt. Anyone who does not support them is an enemy whether you are a christian, muslim or atheist, it doesn't matter.The people behind them are well known to the powers that be and those few well connected and well informed Nigerians.

President of CAN went to U.S.A to convince U.S govt to enlist Boko Haram as one of the terrorists organizations but the U.S govt refuse and actually announced last week that with the information and reliable intelligence gathered so far on Boko Haram, the make up of the group, their agenda and goals is at variance with that of Islam. The press is responsible for the statement that their goal is to Islamist Nigeria and convert Jonathan to a Muslim (a laughable goal at that!). The people behind them are well-known? politicians and powerful Nigerian across the regions. Q.E. D. Their case is of " the more you look, the less you see"

I therefore urge the forum members to be objective in their comments and practise self-restrain. No religion or creed has a monopoly of good or bad people, it all depends on how you see issues.

@all Hi,

Charcoal business, as it is done here in Nigeria is not
proper.

About 3yrs ago, i thought of going into the bizalong with a couple of friends. But when I visited the sites where the woods are sourced from, then irealise the degree of deforestation andenvironmental degradation going on to produce
charcoal for both local and foreign market, I opted out immediately.

No one bothers about re-planting the trees. For every container of charcoal you see going abroad, over 500 or more trees may have been felled down without any consideration of what happens to the environment.

When the trees in one area have been completely depleted, they move to new areas and start all over again and again! Unfortunately, no one seems to care. Corruption, greed and lawlessness in our country makes such biz thrive unlike in developed countries where you are
expected to plant more tree and you dare not cut any tree!

While there is nothing wrong in making money, we should think of the generations coming behind us and do nothing to make life difficult for them. Let's make the world a better place than we met it.

Most countries buying our charcoal have
more trees than we do but they prefer to
preserve their own. Ask yourself, when last did you plant a tree? Some people may not agree with me but I think there are
better businesses we can do without hurting the
environment.

Coal is a better biz even though this has also contributedzzz to erosion in the east. it is still a
lesser evil. I am a bizman but I am choosy in the line of
business I do because I am responsible to God,
humanity and the environment. I expect same
of every businessman and woman. My people, money is not everything o!! Let us protect and preserve our environment for
the coming generations!

In addition, the post was for march 2011. The amount mentioned there is no longer realistic. You will need much more than N550,000 to execute a 40ft container. Secondly, the Euro is falling drastically and it is seriously eroding the profit now.

Mr Sage is one of the people i respect in this forum but from the tone of his post, its obvious he is not active in the biz. I monitor the business and i am always happy when it is not favourable.

Bitter kola, Kolanut, Cassava chips, ginger, sesame seed, gum arabic, mica and many more are more ethical and profitable. I do not sell manuals and i don't believe in the doctrine of ''any business goes''.

Like i said before, it is up to you and i to leave a better environment for those coming behind.

@all Hi, Charcoal business, as it is done here is not
proper. I was thinking of going into the biz
along with a couple of friends. But when I
realise the degree of deforestation and
environmental degradation going on to produce
charcoal for both local and foreign market, I opted out immediately. No one bothers about re-planting the trees. For
every container of charcoal you see going
abroad, over 500 or more trees may have been
felled down without any consideration of what
happens to the environment. When the trees in one area have been
completely depleted, they move to new areas
and start all over again and again! Unfortunately, no one seems to care. Corruption
and lawlessness in our country makes such biz
thrive unlike in develop countries where you are
expected to plant more tree and you dare not
cut any tree! While there is nothing wrong in making money,
we should think of the generations coming
behind us and do nothing to make life difficult
for them. Let's make the world a better place than we met
it. Most countries buying our charcoal have
more trees than we do but they prefer to
preserve their own. Ask yourself, when last did you plant a tree? Pple may not agree with me but I think there are
better businesses we can do without hurting the
environment Coal is a better biz even though this has also
contributed to erosion in the east. it is still a
lesser evil. I am a bizman but I am choosy in the line of
business I do because I am responsible to God,
humanity and the environment. I expect same
of every businessman and woman. My people, money is not everything o!! Let us protect and preserve our environment for
the coming generations!

In addition, the post was for march 2011. The amount mentioned there is no longer realistic. You will need much more than N550,000 to execute a 40ft container. Secondly, the Euro is falling drastically and it is seriously eroding the profit now.

Mr Sage is one of the people i respect in this forum but from the tone of his post, its obvious he is not active in the biz. I monitor the business and i am always happy when it is not favourable.

Bitter kola, Kolanut, Cassava chips, ginger, sesame seed, gum arabic, mica and many more are more ethical and profitable. I do not sell manuals and i don't believe in ''any business goes''.

Like i said before, it is up to you and i to leave a better environment for those coming behind.