₦airaland Forum

I used to think think that if I have a million naira.
I will change my life for good.
I sold my fathers land to gather the money.
I started phone accessories business with the money.
The business just collapsed after 6months.
Now I am left with nothing.
Assuming you are under my shoes.
What kind of financial investment will you make to stand the test of time

You don't put money gotten from sales of inherited land into business. It will collapse. Know this now incase you're planning to sell another land. Uwc

Just give me #25m am okay

suckprick:
You don't put money gotten from sales of inherited land into business. It will collapse. Know this now incase you're planning to sell another land. Uwc

Which money do one use for business that won’t make it collapse? Pls i am asking for a friend

OlaOfLagos:
Which money do one use for business that won’t make it collapse? Pls i am asking for a friend

Work and save. If you don't have a job, ask for help (grant not loan). Loan is not advisable too, except you are looking to expand an already established business.

Emergency fund/Savings of #20m.

Side income of $200 monthly (Content Creation Gig - Video+Graphics).

Monthly Website maintenance gigs for like 3 clients.


And I go retire sef.

suckprick:
Work and save. If you don't have a job, ask for help (grant not loan). Loan is not advisable too, except you are looking to expand on an already established business.

Good one but working & saving (for business) is definitely going to be on a small scale. So you mean if I have a landed property and also have a good business idea that will give me good returns in 2years I should still work and save for it? My brother na money dem Dey take find money ooo! Once you’re discipline with your finances, your business will always exceel either you work & save/sell a property to kickstart a business. I can’t have a land in one bush that won’t develop in 10 years and my business ideas wasting. My opinion

You probably didn't manage your capital well. First of all how much were you expecting to be making monthly from a mobile phone accessory business? Not much. Then considering you probably had to be feeding from the proceeds also, instead of reinvesting the profits back into the business, I'm surprised it even lasted 6months.
Although 1m is small to start a business to begin with, I'm sure if you had put it into something you knew more about, and had an alternative source of livelihood so that you didn't have to depend on the business for survival, you might have made a headway

suckprick:
You don't put money gotten from sales of inherited land into business. It will collapse. Know this now incase you're planning to sell another land. Uwc

Stop this archaic superstitious belief started by your forefathers who couldn't stop the whitemen from enslaving them despite all the yę yĕ traditional and spiritual beliefs they held.

ChybuzzDD:
Stop this archaic superstitious belief started by your forefathers who couldn't stop the whitemen from enslaving them despite all the yę yĕ traditional and spiritual beliefs they held.

What you don't know is greater than you. Learn and thread carefully son.

70mil.. I can work with that

N122,000,000

Have many debts to settle as well

suckprick:
What you don't know is greater than you. Learn and thread carefully son.

What have you been able to do with these "things" you know

Just same bvll$hit defence line all the time!

If for anything, these "things" you know draw you backwards and keep you poor.

I have seen thousands who so much believe in these superstitions and they hardly make progress. They usually become obstacles to themselves.

50m would do. Never broke again

300m would turn me to a billionaire in 8 years time

1Billion, I don buy presidential Ticket make i change Nigeria for good

MrBroke:
50m would do. Never broke again

300m would turn me to a billionaire in 8 years time

1Billion, I don buy presidential Ticket make i change Nigeria for good

1 million is certainly not a huge amount of money,but don’t get into a million debt too..
Maybe 300 million will do sha…


But you can never go wrong with what I sell when it comes to bedmatics business,very sure banker

If I have =N=5million l will be okay. I will invest in agriculture.

As for me, just 20million and I will be fine.

suckprick:
Work and save. If you don't have a job, ask for help (grant not loan). Loan is not advisable too, except you are looking to expand on an already established business.

I am really looking forward to having that grant, am into poultry. Piggery.

100 million I don start social media commentator. The money na to use guide and get equipments.

Good processing laptop and desktop
Audio and visual setups
Rent a good apartment with Great autistic and no noisy and nosey neighbour. I am set

Una go hear my opinions tire until it starts shaping your own

$1m

Greed nor go let Nigerians see road

#80,000,000

1m dolls

No amount. It's not what you have in atore that counts, it's what's coming in every day, week or month on a regular. (Cash flow)

Even #50m will go down the drain in one year if you don't have something reliable you're doing with it. Bills will eat up everything from travel, school fees, car and house repairs, failed businesses and deals etc

Even if you keep it in Piggybank or whatever, the interest rate will not be sufficient.

It's more important to build yourself in terms of skill or business and use that to feed and grow. You can then build at least 12 houses that will pay you month salary when you're old and geriatric.

Interesting thread

It is well with you

MrHandsome2013:
I used to think think that if I have a million.
I started phone accessories business with the money.
The business just collapsed after 6 months.
Now I am left with nothing.

If u don't mind me asking, How did it collapse ?
Low patronage or Bad Location ?

Lol welcome to the party.

This is exactly what experienced well to do people usually warn your caliber of people about. Some of you think doing business in Nigeria is just all about all the stuff you see on the surface lol.

In Nigeria, Even if you have 50 Million Naira, If you are not financially smart, wise and prudent. You might still go back to the trenches.

What you don't understand and most people will not tell you is "Most" of those doing Physical Business in Nigeria are into Shady Businesses which they derive their main Money from. Those physical business you see are just for fronting and smokescreen.

Personally i do rather travel out of the country instead of doing any business in Nigeria, Even if i have 100 Million Naira. Our lifestyle and what we want in life differs.

For Example, If i'm being offered to choose between the two options below. I will definitely choose option 1 without thinking twice.

1. Relocation to US, Work Permit, Permanent Resident, Job of $6000 Monthly which includes Free Acomodation and other benefits.

2. Receive 100 Million Naira, and Stay permanently in Nigeria, You will never be able to travel outside Nigeria again.

padi94:
100 million I don start social media commentator. The money na to use guide and get equipments.

Good processing laptop and desktop
Audio and visual setups
Rent a good apartment with Great autistic and no noisy and nosey neighbour. I am set

Una go hear my opinions tire until it starts shaping your own

At the bolded

Na them plenty pass for Nigeria most especially in those trenches neighborhood. Very archaic and terrible beings😂

An apartment inside a Gated Highbrow Estate is the best option for you.

What I need now is $100 million

Bro remember this is land money we are talking about here, before you use that money for business, go and buy a goat, call your people let them help you appease your ancestors and also let them (Ancestors) know what you want to do with the money and ask for their blessings, and also promise to buy more lands when things starts moving well.


Don't listen to any confused soul that will say my advice is barbaric or any rubbish they call it. I've warned you