Is Quitting A Good Idea? Opinions Will Be Appreciated - Career (2)

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Is Quitting A Good Idea? Opinions Will Be Appreciated - Career (2) - Nairaland

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How Much Did You Save Before Quitting Your Salary Job For Your Own Business? / Career Switch? Is It A Good Idea? Advice Me Please / Employee Appreciation Day: How Would You Love To Be Appreciated? (2) (3) (4)

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Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by imohimoh12: 12:38pm On Aug 19, 2023

Do you have another job aside from wailing on nairaland ?

Taylor90:
Nigeria is gone

See where engineering graduate wan quit him job for bike POS or barbing

Nigerians Ntorrrr

My own advise be say carry that 1million recruit 10 olosho put them for road make them dey do weekly account

3 Likes

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by whytediamond(m): 12:38pm On Aug 19, 2023

Nice2023:
I will advice u to quit but before u quit,pls go and read this book.

By Robert Kiyosaki.

Before u quit your job.

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Emeskhalifa(m): 12:38pm On Aug 19, 2023

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by BoldBrainz(m): 12:39pm On Aug 19, 2023

Jennyclay:
Biko, come and use the 100k to take me out on an expensive date.

Thief!!

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by complexstuffs(m): 12:39pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

1) This advice is for you if you read electrical/Electronics engineering
2) Secure your COREN if you have not done that already
3) Save some money and register an engineering company
4) Start soliciting for jobs/contracts

2 Likes 1 Share

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Wodu89: 12:40pm On Aug 19, 2023

franchasofficia:
Bra try wire wire or Oshole, forget business for now, learn from Ebola, Dapo Abiodun, Hush Pup, Kashamu, Agbele and co, and thank me later

U dey abroad but u sabi all dis. Okay O

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Brownshoe: 12:41pm On Aug 19, 2023

Business now is not moimoi o, do your research well

1 Like

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Treadway: 12:41pm On Aug 19, 2023

BoldBrainz:
With a million naira, slow down on the business idea.

The Nigerian business atmosphere is currently very cruel on start-ups and existing SMEs. Irrespective of your location and how viable the option might seem, burying a million naira into a startup right now, is a mistake you may not recover from.

Keep your job. Save a bit more while you watch where the country is headed for the next 5 to 6 months. You can revisit the thought afterwards.

Just so you know, a million naira now is roughly 750 dollars. It's not exactly as much money as you think it is, given the inflationary percentage out there.

I just told him the same thing in more words/detail in my previous post. Naija as it is today isn't anybody's mate. Even those wey don dey established dey feel heat, much less new entrant.

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by maasoap(m): 12:42pm On Aug 19, 2023

Taylor90:
Nigeria is gone

See where engineering graduate wan quit him job for bike POS or barbing

Nigerians Ntorrrr

My own advise be say carry that 1million recruit 10 olosho put them for road make them dey do weekly account

It would be nice to introduce your sisters, and may be your mother too to him as recruits

1 Like

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Yankee101: 12:42pm On Aug 19, 2023

Don’t touch bike
Try Uber rather

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by PepeXKermit: 12:43pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

You must have voted APC in the last election. A whole graduate of engineering wants to do POS l, barbing or bike.. wow. cheesy

1 Like

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Dumba088(m): 12:43pm On Aug 19, 2023

You are in the village good, engaged yourself in a business that will not require your presence like food storage, properties and continue to with your current work for some times.

It's good to peep and check the world of business first before engaging in it full time

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by MadamExcellency: 12:44pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

Go and look for one Igbo business man doing a lucrative business and learn work. You can serve him for 6 month and he will give you a clue (business secrets) and that all you need.

Do this and thank me later.

7 Likes

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by BoldBrainz(m): 12:45pm On Aug 19, 2023

Treadway:
I just told him the same thing in more words/detail in my previous post. Naija as it is today isn't anybody's mate. Even those wey don dey established dey feel heat, much less new entrant.

I learnt from personal experience and no matter how cold I am as a person, I'll be uncomfortable to see another young Nigerian having the same setback.

But come to think about it, this OP get mind o..😂! Nigeria is preparing to go to war under Ecowas, and you want to go put your savings into starting a business. If you start the barbing shop now and Nigerians begin to run helter-skelter cause of the ripple effects of the war, you go carry your new shop for head take move?

1 Like

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Olarewaju89: 12:45pm On Aug 19, 2023

Jennyclay:
Biko, come and use the 100k to take me out on an expensive date.

It’s better to spend the money on me than waste it on business you have no idea about. Its not as if the economy is friendly

Biko, come and lavish it on me!!!!

Will you marry him if he do that?

6 Likes 1 Share

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by abba190: 12:45pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

i swear to god its not a good idea but if u insisted to give it a try pls i will replace u at where u work

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by tonicyril: 12:46pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

Don't be silly bro, take 600k out if that 1m, keep the remaining 400k, find gallons, buy palm oil, load them to Ibadan, shagamu, onitsha, owerri, and sell in bulk...I swear nobody will tell u to quit ur job before u would hurriedly do so

9 Likes 1 Share

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by contra(m): 12:47pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.
..

Do you think it is a good idea?

Deciding to start a business is a significant step, and it's great that you're considering your options. Before making a decision, it's important to carefully evaluate your situation.

Consider factors such as your business experience, market research for the chosen business, potential risks, and long-term goals. Also, assess the demand for barbing shops, POS, or bike businesses in the village. If you're passionate about entrepreneurship and willing to put in the effort to make your business successful, it could be a good idea. Just ensure you have a solid business plan and financial projections to guide your decision.

Gradually transitioning from paid employment to starting your own business can be a prudent approach. It allows you to test the waters and mitigate some risks. You could start by working on your business idea during your off hours or weekends while still employed. This will give you a chance to validate your business concept, build a customer base, and generate some income before fully committing.

During this transition period, it's important to manage your finances carefully and build up your savings. As your business gains traction and starts generating consistent income, you can then make a more informed decision about quitting your job. Keep in mind that entrepreneurship can be challenging and unpredictable, so having a solid plan and a financial cushion is crucial.

6 Likes

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by maasoap(m): 12:48pm On Aug 19, 2023

Treadway:
As someone who loves, is passionate and skilled at doing business, I have only one advice to give you.

Don't do that right now!!!!!!!

Only one that seems a bit promising there is POS, but that depends on the specific area and foot traffic therein you wanna capture. Bike may not give you as much profits now due to high fuel cost (I say may cos location differences matter eg here in Ibadan transport fares haven't increased much despite the hike in price of fuel, some increased by 50 naira, most stayed the same). Barbershop, it will take time to have steady customers,plus you now have to pay rent for two places, rasing your cost with no guarantee of commensurate inflow to support it in the first one year.

1m naira is nothing! Only exception to this is of your business idea is somewhere in the food value chain, and I'm not talking farming (cos 1m is nothing for farming right now either).

Very detailed advice, and on point too. I'm in transport biz, I'm on the look for a way out since Tinubu and his subsidy removal has happened to Nigeria. POS is the fairly feasible biz he should consider out of the three ideas he has. May be he's ready to ride bike, we don't know. But he can't give the bike out, he will regret it. And barbing saloon, I don't think he should venture into that because of many factors

2 Likes

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Cyphar(m): 12:49pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Just do your findings well sir..... I pray God almighty directs your path

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Pinkybush: 12:50pm On Aug 19, 2023

Doing a business of your own will give you time to care about yourself.
But, whether you quit or not, I have a side business you can invest 50k - 60k into and making 50k - 100k per month. If interested, call me on 09070147496

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Jennyclay(f): 12:51pm On Aug 19, 2023

Olarewaju89:

Will you marry him he do that?

marry Kwa? undecided

Biko, i can’t marry someone earning 70k. God forbid!!

It’s just a date, that’s all.

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by steveodo(m): 12:51pm On Aug 19, 2023

This is my candid advise, quite your job only when you have money that will sustain you for one year before you get another job or before your business begin to yield profits, bear it in mind that the first 6 months in business is not easy because you will be spending more than gaining
Your current salary is 100,000*12=120,000
Your current savings is 1,000,000/12=83,333.3
This may not sustain you for a year before you talk of business.

3 Likes 1 Share

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by millionboi2: 12:53pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

yes for barbing shop,pos business is cool, don't be afraid,dare to try it, you will for ever be greatful you did.

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by maasoap(m): 12:54pm On Aug 19, 2023

PepeXKermit:

You must have voted APC in the last election. A whole graduate of engineering wants to do POS l, barbing or bike.. wow.

And those who voted PDP and LP are full of business ideas? Except that I didn't see any idea in your comment grin

. So much ideas from Ellupe family

2 Likes

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by LORETA: 12:54pm On Aug 19, 2023

Engineering graduate...which area in particular. Be specific

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Voiceofthestree: 12:56pm On Aug 19, 2023

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

First before I comment tell me which state are you from and what state is where you are working then I will tell you what to do

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by Olarewaju89: 12:57pm On Aug 19, 2023

Jennyclay:
marry Kwa?

Biko, i can’t marry someone earning 70k. God forbid!!

It’s just a date, that’s all.

Humm... OK oo

Hope you are also working?

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by NaijaCover(m): 12:57pm On Aug 19, 2023

Nawa o

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by maasoap(m): 12:59pm On Aug 19, 2023

Jennyclay:
marry Kwa?

Biko, i can’t marry someone earning 70k. God forbid!!

It’s just a date, that’s all.

How much are you earning? Let's see what you're bringing to the table as a partner.

1 Like

Re: Is Quitting A Good Idea? Opinions Will Be Appreciated by EnglishUsa: 1:02pm On Aug 19, 2023

All the business you mentioned here don't have future and they will compile you problems further when you get married, so find something that has future and can expand in future, a business your wife or children can look after when you are not around. Do not do business that when you are not around your family will die of hunger.

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