₦airaland Forum

TUBLEZ:
Tough people takes tough decisions Bro, as i hv always believes that salary is a bribe u take to forget about ur dreams and besides it's not a well paying job

I love your spirit, So you think oil will pay you better?

TUBLEZ:
Few years back after graduation and job not forthcoming, tho i was doing some menial jobs to cater for my basic needs and on d long run i was able to save only 50k and then i started browsing d Internet to know what i can do with my 50k so palm oil business really caught my attention and i decided to give it a trial as at then oil was 4k from d farm so with my 5k I started with 8-10 kegs of palm oil. Within few months into the business i was already having demands above my initial 10 kegs due to my aggressive marketing within my neighborhood and beyond but no where to get more funds to buy more kegs of oil on a weekly basis so i decided to look for investors here on nairaland, many people contacted and fortunately a lady invested little amount of money after we hv signed the MOU wit my lawyer i was so happy that my supplying power will jump from 10 kegs to 20 because i already hv d market but reverse was the case as an idea came from a colleague in d oil business that we should try our hands on plantain supply, we did some research at idi oro mkt and all was set as the profit margin was far far better than palm oil and it's a one off business just supply and make ur money instantly. So we decided to put our resources together to buy full load of plantain, we left lagos for idanre ondo state at about 12am to arrive at the market 5am we bought plantain and brought them to idi oro lagos to sell off but unfortunately we can't even explain how those OLO OBE sell them and we sold at a total loss loosing 70% of my capital and the remaining 30% got stuck with my colleague because i trusted him with the money but unfortunately he disappointed me and that was how i lost both my personal capital and the one my investor just paid without even trading with her investment at all.

Where do i start from again? i need to pay my house rent, eat, pay my bills and as well pay ROI to my investor ooooops the biggest fear and threat of my life sets in, i took another bold step to apply for a loan at a microfinance bank within 2 weeks the loan was disbursed this was supposed to give me a relief but on the long run it adds to my pains as i have to pay back the loan every month and as well pay my investor her ROI, the border was just too much hardly can i feed myself but i keep balancing the situation until few months later when i lost my dear mother i had to travel down to our village for the burial and everything and i spent one whole month at this time all business was pending i came back took money from the little capital to pay bank and ROI which now reduces my running capital again i was not too border so quickly i decided to order for oil from one of woman like that she has since disappears from Nairaland. My aim was to quickly buy and cover up for the lost month because i was still mourning my mum and i don't want to travel but believe me all the oil she sent to me was very bad smelling like a pit nobody can even buy them from me, another total loss with bank loan 3 months left and my investors ROI still over six months left of which she Wil also calls from her capital at the expiration of our contract. I went straight to my shelve bring out my certificate and resume job hunting with God on my side i got a job with a poor salary within 2 months of my search i thank God i got the job at that point because it was the job that helps me to pay up my bank loan and paid up to 80% of my investors ROI and her capital.

So I decided to work for more months then i resigned with few capital to start up all over again because i sure knows what palm oil business can bring to the table if properly managed compared to my salary job. All in all i thank God for everything.

you lack self confidence and discipline. Why would u abandone your idea for another?

You did not keep your phone number. I would have called to speak with you. Don’t give up my brother. Most failure in life are people who do not know how close they are to success before they give up.

I am moved by your message God bless you

swiz123:
I can only caption this :"consequences of greed"

I disagree, he only took a risk, even though he did not do enough research

TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

Go advice's

And I do love your determination and being a business oriented person

I wish you the very best in your present and future endeavors

Oluwapresley:
In the last one week, I've read two very strong posts condemning salary earners and encouraging entrepreneurs/investors. In this one week also, I've also seen the amount of praises given to such write ups.
I also want to praise entrepreneurship! Yes, but constructively!

Its funny how everyone nowadays gives numbers and statistics on how entrepreneurs make millions monthly but won't say everything that entails those numbers.
My mother used to say; "at the end of every year, people see you sell Christmas chickens and they help you count all the money you are making from afar based on every customer that comes... But that's all they would ever know.. What comes in from afar"

That's the kind of picture people paint with almost everything. They paint from a far!

Of course, this call for entrepreneurship/investors is a very good call; however, they are called investors/entrepreneurs for a reason! You can't give what you don't have.
Or should I say you can't invest what you don't have!
But these posts have Sooooo condemned salary earners and painted sooo ugly a picture about salary earners that no one wants to be a salary earner. Which is a good thing actually but the resultant effect is a negative drive! Yes, a negative drive! People see the numbers you come up with..... I saw a post about a "danfo driver" who makes 1 million naira monthly..lol but the danfo driver never came out to say he makes 1 million naira monthly; our so-called clamourers for independence calculated his income for him..

This creates a negative drive.. That even those who don't have anything to offer start to say I want to be an entrepreneur.
Oh, or you think investing entails only money?
Investment entails a lot of things, man! From money to time, to knowledge, experience, the right people, luck etc. You can't give what you don't have. You can't invest what you don't have, if not, the result effect is failure!

Starting up something on your own requires sincerity! Are you ready for this?
They calculate how much u can make if u were alone..
But I also know a lot of business owners that have lost sooo much and committed suicide!
I know of guys that wasted all their money and time pursuing something for the wrong reason.

Investopedia says there is a difference between business owners and entrepreneurs. Not every business owner is an entrepreneur. There are differences and 1 of the difference is "innovativeness''.

If I happened to go back to my 100L days, I probably would Ace all my papers. If I go back to my primary school days, I probably wouldn't go to school at all and I will sit for exams and take the first position!
Why do u think this is so?
Its called growth!!

There are some guys that would go back to their primary school days and wouldn't still be able to pass their exams..

And there were some other guys that aced everything right from the start..

We need to understand that we are different.. You can't all go at the same pace. Some people need to grow. Grow in knowledge, wisdom, skills, abilities before they can actually do something.. If not, you are only Gonna fail and end up aving a negative mindset about starting up.

We need to realise that salary earners in that sense are also starting up something.. Its not always only about the salary. There are other ingredients you get even as a salary earner to be able to start up something..


I think these posts should be clearer. Sometimes, you have to be a salary earner before you become the almighty investor..
It doesn't mean I've forgotten my dreams.

My mentality might be messed up.. But this is exactly how I feel..

I had to quote everything so that those that skipped this will actually go back to it... God bless you.

TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

Lesson 5, Don't b greedy. Wonder d kinda devil that pushed u in plantain biz. Looks like the work of d witches in ur village.

pls I need your advice on the plantain business

Bro, am interested in this palm oil Business. I need to ask you some few questions. Thanks. 07038015327

But op don't give up on having your own business. You have a little bit of experience in running businesses in Nigeria. Put your hand into other startups. The owner of iroko tv failed so many times before he finally set up iroko TV. You just have to keep moving forward.

Please bro is there any way you can assist me, I want to venture into the business. You can reach me on my email address princejunior02@yahoo.com , thanks

Something tells me u are going to hit it big someday.

cybeks:
pls I need your advice on the plantain business

MY love, dnt go dia....... trust me, the biz will frustrate u. unless if you have anyother means of selling it apart from direct sells

Oluwapresley:
In the last one week, I've read two very strong posts condemning salary earners and encouraging entrepreneurs/investors. In this one week also, I've also seen the amount of praises given to such write ups.
I also want to praise entrepreneurship! Yes, but constructively!

Its funny how everyone nowadays gives numbers and statistics on how entrepreneurs make millions monthly but won't say everything that entails those numbers.
My mother used to say; "at the end of every year, people see you sell Christmas chickens and they help you count all the money you are making from afar based on every customer that comes... But that's all they would ever know.. What comes in from afar"

That's the kind of picture people paint with almost everything. They paint from a far!

Of course, this call for entrepreneurship/investors is a very good call; however, they are called investors/entrepreneurs for a reason! You can't give what you don't have.
Or should I say you can't invest what you don't have!
But these posts have Sooooo condemned salary earners and painted sooo ugly a picture about salary earners that no one wants to be a salary earner. Which is a good thing actually but the resultant effect is a negative drive! Yes, a negative drive! People see the numbers you come up with..... I saw a post about a "danfo driver" who makes 1 million naira monthly..lol but the danfo driver never came out to say he makes 1 million naira monthly; our so-called clamourers for independence calculated his income for him..

This creates a negative drive.. That even those who don't have anything to offer start to say I want to be an entrepreneur.
Oh, or you think investing entails only money?
Investment entails a lot of things, man! From money to time, to knowledge, experience, the right people, luck etc. You can't give what you don't have. You can't invest what you don't have, if not, the result effect is failure!

Starting up something on your own requires sincerity! Are you ready for this?
They calculate how much u can make if u were alone..
But I also know a lot of business owners that have lost sooo much and committed suicide!
I know of guys that wasted all their money and time pursuing something for the wrong reason.

Investopedia says there is a difference between business owners and entrepreneurs. Not every business owner is an entrepreneur. There are differences and 1 of the difference is "innovativeness''.

If I happened to go back to my 100L days, I probably would Ace all my papers. If I go back to my primary school days, I probably wouldn't go to school at all and I will sit for exams and take the first position!
Why do u think this is so?
Its called growth!!

There are some guys that would go back to their primary school days and wouldn't still be able to pass their exams..

And there were some other guys that aced everything right from the start..

We need to understand that we are different.. You can't all go at the same pace. Some people need to grow. Grow in knowledge, wisdom, skills, abilities before they can actually do something.. If not, you are only Gonna fail and end up aving a negative mindset about starting up.

We need to realise that salary earners in that sense are also starting up something.. Its not always only about the salary. There are other ingredients you get even as a salary earner to be able to start up somethingu..


I think these posts should be clearer. Sometimes, you have to be a salary earner before you become the almighty investor..
It doesn't mean I've forgotten my dreams.

My mentality might be messed up.. But this is exactly how I feel..

Wao I so love your feedback. It actually makes a lot of sense

Talk2Bella:
at least u have been able to pay off two major loans

don't give up

u nor go enter that business,dey sell to ur fellow gradg

divicode:
I disagree, he only took a risk, even though he did not do enough research

He believed he could make more by venturing into plantain biz.yea you r right though.lack of research but greed certainly played it's part

TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

Don't take loan?.. I don't get it

What if it is a biz I have previous experience..?

TUBLEZ:
Lessons learnt
1.Don't take loan to start a new business, u can only take loan to expand an existing business
2.U can start with the little u have
3.Focus on one business first before diverting ur capital
4.Go for quality

Very true. Most banks do not give loans for a new business because of the uncertainty of it taking off. They rather invest in a business that has been tested and is running.

[color=#000099][/color]

concho:
MY love, dnt go dia....... trust me, the biz will frustrate u. unless if you have anyother means of selling it apart from direct sells

I want to be supplying it to clients, if possible, so I need to know the strategies of the business

cybeks:
pls I need your advice on the plantain business

My advice for u is to run, infact i won't advice u to put ur money on perishables

The zoo doesn't want to use their heads didn't they no that a barrel of palm oil can buy 13 barrel of crude oil

TUBLEZ:
yes,and after that i lost the loan i took from microfinance bank to palm oil 100% of it

mecussey:
you lack self confidence and discipline. Why would u abandone your idea for another?

Pls I need or advice on the plantain business

TUBLEZ:
My advice for u is to run, infact i won't advice u to put ur money on perishables

why?

eabby:
Better still, engage yourself with a parent company, be patient, learn from them, start slowly and small, master your indices, give it more time then you can establish.

One of the best ideas ever heard
Can you tell me a parent company to supply of tomato potato onions from the farm into lagos

Mehn u are so brilliant for this comment. Dats d same tin i told my friend. All ppl do is wish to b an entrepreneur as if it is d surest. Is okonjo iweala an entrepreneur, she isnt. Bt her life is perfect in a sense. Its ok to b a salary earner jor. Just boost ur cv so dt u cn get a good job. Some salary earners have better sleep than entrepreneurs

@oluwapresley....Mehn u are so brilliant for this comment. Dats d same tin i told my friend. All ppl do is wish to b an entrepreneur as if it is d surest. Is okonjo iweala an entrepreneur, she isnt. Bt her life is perfect in a sense. Its ok to b a salary earner jor. Just boost ur cv so dt u cn get a good job. Some salary earners have better sleep than entrepreneurs

op my case is not difference much difference from yours the only diff is that u have paid ur debt why am yet to pay me .
two months ago I took loan o80k on loan , held for north to buy raw food I put every thing on luxurious us on our way it got bad , then I have to do trans loading at another cost .when I get warri the market WOmen were pricing my Menlo and grand nut the amount I did not buy then after every thing thing I sold my goods the amount I bought them from Niger state I lost all my transport and other ex Spence a.

almost 40k I
I went to market again , some body now said I should but raw grand but . i didn't know that some are strong why other are yet to be strong .in fact I have lost every thing of whice I will paying 15k every month currently I have no joy I went to doing farm clearing for people yet the rain us just two much

please I will luv u to introduce me to this palm oil business please.

please I will luv u to introduce me to this palm oil business please. did is my numb 09073314650

dejik2m:
Definitely, the lessons learnt will make you better. Im interested in the palm oil biz. Kindly send a means of getting in touch with you. Thanks.

My watsap no is 08121680787

Opelwonder:
@oluwapresley....Mehn u are so brilliant for this comment. Dats d same tin i told my friend. All ppl do is wish to b an entrepreneur as if it is d surest. Is okonjo iweala an entrepreneur, she isnt. Bt her life is perfect in a sense. Its ok to b a salary earner jor. Just boost ur cv so dt u cn get a good job. Some salary earners have better sleep than entrepreneurs

I am self (employed/learning) right now, that doesn't mean I can't give advice.
There is no doubt that been an entrepreneur is the best.
If we all decide to be salary earner, who will pay the salaries.
All I can just say is people have abused 'taking risks" all in the name of doing business, they misconstrued uncertainty with risk. The kind of meaning they read to it is synonymous to diving into a sea without oxygen or jumping from a plane without parachute.