When you say business , what type of businesses are you talking about?

Babyvet:
When you say business , what type of businesses are you talking about?

Who are you asking, so.the right person can answer?

Btw, where is Holocene? I would have thought he would have booked his spot. It has low key irritated me.

Tech startup

Babyvet:
When you say business , what type of businesses are you talking about?

Backfornow:


Who are you asking, so.the right person can answer?

Btw, where is Holocene? I would have thought he would have booked his spot. It has low key irritated me.

I’m directing it to anybody that has established a business in this country.

lillaowow:
Where are "all of us" people in America making $700000 per year..

Come here come spend Moni oooo. :

Lol, , no come start trouble here.

Babyvet:


I’m directing it to anybody that has established a business in this country.

Oh you mean tell us what type of business you are operating.
Good idea.

Backfornow:


Oh you mean tell us what type of business you are operating.
Good idea.

yes they need to be specific and share their experience. Like for example , if they own a store , they could share the type of store they have , how they raised capital, hiring employees, getting customers etc . That’s what I mean. Someone had mentioned that opening a business was very easy ( which I don’t think it is) , so I need more specifics.

Backfornow:


Technically, its not derailing since anything US related is open for discussion. Wait for one of your fellow bros to show up.
Although, it makes me think I should add a rule about how some topics should be discussed.

...
Kindly take off the word derailer from the headline,let it be a thread borne out of genuine motives.
Thanks

Dremca:
@backfornow, Thanks for creating this thread. Let's talk more about starting a business in the US

....

You are still in Nigeria,are you planing of coming over anytime soon??..or why the lure of starting a business in America??.

Nig4Greatness:
...
Kindly take off the word derailer from the headline,let it be a thread borne out of genuine motives.
Thanks

The motives are genuine, as can be seen by the content of the thread so far.
I like the title because it has significance for me and so it shall stay.
Thank you for your input.

Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

Nig4Greatness:
....
You are still in Nigeria,are you planing of coming over anytime soon??..or why the lure of starting a business in America??.

2. Partnerships
This is the second type of business ownership. It is defined as an association of 2 or more persons who carryon as co-owners of a business. Partnerships are the least used form of business used.
There are 2 types of partnerships:general and limited.
A general partnership has complete sharing in the management of the business this includes debt. Each partner has unlimited liability for the debts of the business. Examples are lawyers, architects, and accountants.
Limited partnerships has at least one general partner and at least one limited partner.
This general partner assumes unlimited liability. The limited partner liability is limited to his or her initial investment. General partners run the everyday activites of the business and accept most of the risk. The limited partner do not participate in the everyday activities of the business but do receive a share of the profit. Examples are real estate partnerships and oil drilling partnerships.
Anyone considering this type of business structure should make an article of partnership. Articles of partnership are legal documents that detail the basic agreement between the partners. Ex how much money is invested, the roles of each partner, and how the business should be carried forth if one partner wants to leave.
Next time Advantages and Disadvantages of Partnerships

I've taken the front row seat

Backfornow:
2. Partnerships
This is the second type of business ownership. It is defined as an association of 2 or more persons who carryon as co-owners of a business. Partnerships are the least used form of business used.
There are 2 types of partnerships:general and limited.
A general partnership has complete sharing in the management of the business this includes debt. Each partner has unlimited liability for the debts of the business. Examples are lawyers, architects, and accountants.
Limited partnerships has at least one general partner and at least one limited partner.
This general partner assumes unlimited liability. The limited partner liability is limited to his or her initial investment. General partners run the everyday activites of the business and accept most of the risk. The limited partner do not participate in the everyday activities of the business but do receive a share of the profit. Examples are real estate partnerships and oil drilling partnerships.
Anyone considering this type of business structure should make an article of partnership. Articles of partnership are legal documents that detail the basic agreement between the partners. Ex how much money is invested, the roles of each partner, and how the business should be carried forth if one partner wants to leave.
Next time Advantages and Disadvantages of Partnerships

Dremca:
I've taken the front row seat

I think the upcoming segment on corporations will be more of interest to you.
Did you look into that movie I was telling you about? When I first heard of it, I wasnt interested bc I didn't care about McDonald's. But it is a good movie to watch for entrepreneurs bc it makes you think about innovation and the importance of protecting yourself.

Backfornow:


I think the upcoming segment on corporations will be more of interest to you.
Did you look into that movie I was telling you about? When I first heard of it, I wasnt interested bc I didn't care about McDonald's. But it is a good movie to watch for entrepreneurs bc it makes you think about innovation and the importance of protecting yourself.

please what movie is that

I'm waiting for pirated copy sold on the street. In Nigeria we don't buy movie from Netflix, we buy from street vendors.

Backfornow:


I think the upcoming segment on corporations will be more of interest to you.
Did you look into that movie I was telling you about? When I first heard of it, I wasnt interested bc I didn't care about McDonald's. But it is a good movie to watch for entrepreneurs bc it makes you think about innovation and the importance of protecting yourself.

hammed71:
please what movie is that

The Founder made in 2016 with Michael Keaton

OK thank you.

Bossman and other tech gurus in the states, your contributions is very much needed.

Dremca:
Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

Backfornow:


The motives are genuine, as can be seen by the content of the thread so far.
I like the title because it has significance for me and so it shall stay.
Thank you for your input.

.....
Lol..I never said the motive was not genuine, you got the message all wrong.you already had the intention of creating something like this before the bickering on the other thread got out of hands.I reason the word derailer shouldn't make it look an offshoots of that thread.

Dremca:
Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

...

Are you doing anything techs related in Nigeria presently??.

Can you shed some light on the bolded??.

Let's start from there.

Backfornow:


Who are you asking, so.the right person can answer?

Btw, where is Holocene? I would have thought he would have booked his spot. It has low key irritated me.

Hi guys, I was buried under a load of work and I couldn't get time off to type shi.t...
Nice move with the new thread. Hopefully we ain't gonna have guys comparing how much hairs they got on their damn balls here.

EgunMogaji:
IMHO, starting and running a business in the US is absolutely very easy.

Hear me out.

Unlike in Nigeria, the process is well detailed, the forms necessary are easily accessible, the fees are specific and doesn't change based on who you know.

I have businesses (not conglomerate but business none the less) both in Nigeria and USA and I speak from experience.

People also need to understand that the US is such a big place and that various municipality have their own rules and regulations.

Federal law
State law
County law
City law
Subdivision rules and regulations if in one.

In Nigeria we pretty much have federal law it seems.

One of the other things I want to impress on people is that where you leave, friends you keep and generally things that you do will dictate how you will coexist.

It's a pretty free society. I haven't spoken to a police officer since I came back to California in 2010. My Wife joined me here in 2013 and have never spoken to a police officer. I drove from Ibadan to Ijebu Ode last year and there were maybe 5 or 6 checkpoints. Seriously!

Infrastructure is pretty solid. Yeah we have some bad roads here and there.

Though I have been accused of discouraging people to migrate but it is not so. My whole deal is to migrate legally. It just makes things a lot easier.

On credit, it is very useful but one must be disciplined. I have credit cards with 0% interest for 18 months to 2 years. Basically free money to use while I earn interest on my savings. If you are disciplined to pay it off before the 18 months i sup then you're good. I just pity those that don't know how to use credit as they're selling themselves short in a credit society.

A good credit record affects the following:

Car insurance
Employment
Housing
Utilities (they can then ask for a hefty deposit but won't deny you service)

So you can see that it's not a play thing. You can't get a job in a bank if you have bad credit.

If you see your Americana friend with a iPhone X or S9 then one of three things. He bought it cash for about $1,000, he has good credit so that he got 0% rate or he has bad credit and he's paying ridiculous interest rate.

If you're a car freak like me then it is very easy to indulge yourself in the car hobby. America is not a country where if you have a 2000 Accord people will think you're piss poor like they would look at you in Nigeria. You can drive a very clean, very good and dependable car for under $1,000

Goo luck to all aspirants. Its a very good place to be a normal human being but you have got to hustle.

How do you run both businesses in USA and Nigeria?
I could use some tips.

Cost of buying data is very expensive compared to what is obtainable in developed countries. I won't mention electricity as generator can serve and access to funding is also a big issue. No venture capitalist as it is in the US,
what we have in Nigeria are international funding agency and foundations which are more competitive.

Nig4Greatness:
...

Are you doing anything techs related in Nigeria presently??.

Can you shed some light on the bolded??.

Let's start from there.

Basiljoe:

How do you run both businesses in USA and Nigeria?
I could use some tips.

It would not be possible without three things

1) Internet - based on the business that you're in, the internet makes it just as if you're on the other side of town.

2) Banking - it's easier now to do electronic banking. With a global bank account, deposits can flow in and you can get alert on your phone anywhere in the world, verify via internet banking from anywhere in the world. You can also make transfers to vendors from anywhere in the world. Make sure you run a "No Cash" business. This is important.

3) Trusted Person - you need a trusted person on the ground. You need to treat this person very well. My person gets a bigger share of deals than me the owner of the investment But I'm okay with that.

Just be creative, treat your partner well, don't let anyone touch your money. Bank deposits only.

Good luck.

Dremca:
Cost of buying data is very expensive compared to what is obtainable in developed countries. I won't mention electricity as generator can serve and access to funding is also a big issue. No venture capitalist as it is in the US,
what we have in Nigeria are international funding agency and foundations which are more competitive.

Depending on what industry you are in, you can get free 24/7 electricity.

Is it cheap? No. May not be even feasible once you calculate the amortization. But it's available nonetheless.

Dremca:
Yes I am in Nigeria currently and making plans to move to the US. Starting and running a tech business is my passion as Nigeria doesn't have the environment to encourage tech startups. I am very much concerned about the low number of black in tech in silicon valley and that's why am much concerned to know the reason for that, whether is die to racism, lack of interest, environment or any other factors and as people who have lived in the US, what advice do you give to a budding technopreneur coming to the US.

If you have a viable idea/product then no one will really care about the color of your skin.

There are lot's of african american in silicon valley. I lived there for about 3 years or so.

I won't complain of electricity since am into tech niche but cost of data in Nigeria is still far expensive.

EgunMogaji:


Depending on what industry you are in, you can get free 24/7 electricity.

Is it cheap? No. May not be even feasible once you calculate the amortization. But it's available nonetheless.

What was your experience like living in the midst of white majority.

EgunMogaji:


If you have a viable idea/product then no one will really care about the color of your skin.

There are lot's of african american in silicon valley. I lived there for about 3 years or so.

Babyvet:


yes they need to be specific and share their experience. Like for example , if they own a store , they could share the type of store they have , how they raised capital, hiring employees, getting customers etc . That’s what I mean. Someone had mentioned that opening a business was very easy ( which I don’t think it is) , so I need more specifics.

It's not impossible to open a business in either locale. If doing business was easy then everyone would be doing it. It does require some internal fortitude, dedication and sticktoitveness.

I do various things but I like to identify myself as a Customer Solutions Provider

Vague? You betcha. But that doesn't matter a much as everyone following their own dreams and ideologies.

Dremca:
What was your experience like living in the midst of white majority.

I had no issues, none at all.

Here's the shocker. Get ready for it.

The most issues that I've had in my entire over 30 years here has been at the hands of African Americans. I will take a white person over most black people.

There, I've said it. Get out the pitchforks but please no Tesla Flamethrowers