₦airaland Forum

Sharmeenator:
This is a recent bad business experience I want to share. I believe one or two people will learn from it. It's a long story but I will try to make it short without losing too much details.

I decided to start a side hustle in 2016; a cyber cafe, business center and payment solutions provider (e.g. IKEDC, DSTV/GoTV etc.). I got a big shop at a nice location, renovated it to look nice and comfortable. The shop was setup beautifully. Customers were given laptops to browse instead of the old PC everyone uses.
We were getting positive feedbacks daily and motivations to grow bigger. To cut the long story short, everything was going on well and we were progressing and profiting there until the third month.

My boy called me one morning that he met the door opened with no sign of forced entry. We later leant that my staff was careless with the key, someone must have smartly made a copy from the bunch he carelessly left on the counter. We changed the lock and upgraded the security. 5 laptops, router and money were stolen.

Less than a month later, another burglary attempt was made. This time very forceful; the window was cut opened late in the night and the burglary removed. The most unfortunate part was that no one confessed to hear a sound from the removal (which I'm sure couldn't have been done silently) in the dead of the night. The landlord, a pastor in the church that separates the shop from the resident building wasn't so bothered as no one in the house and his family was targeted. More laptops and money were carted away.

I pleaded with the landlord to allow me to get an "aboki" to stay there at night so he could watch over the shop as the security guards we pay to secure the area are as useless as used diapers. He refused citing religious differences. I was forced to involve the police this time despite hating the idea in involving our men in black. I paid 10k and nothing was done. Detective assigned asked me to investigate personally and call him when I 'catch' thieves I didn't care, we did some diggings and suspected 3 guys; popo man was called and he said he has closed for the day. The following day when we called him again, he lied he was coming and later cancelled the appointment citing official duty despite having tactically delayed one of the suspects. I have sworn never to involve Nigerian police in my affairs again

Almost a week later, a third attempt was made and it became clear we had to leave at least for the sake of our lives. We used less than 6 months there and all these unfortunate events happened within 2 months. We left hastily for another shop not far so we could continue where we left. This decision marked the worst I have ever taken. The new shop, although smaller showed signs of success, so I thought. We renovated it and moved in almost immediately hoping that business would be better there especially with the planned inclusion of Bet9ja and PS2 Gaming. Bet9ja bursted my bubble by not approving the shop, mistake number (I can't tell again). I tried Winners Golden Bet, they answered my prayer but cut it short later when they retrieved their license citing a mistake from them as there was another WGB center not too far off which they didn't noticed earlier. Maybe I would have been given notwithstanding if I had a good connection. I had to settle for Surebet247 which checkmated me to defeat.

Business was over dull in the new environment (no pun intended). Light was over bad (they only have light during our closing hours). We buy fuel of almost 2k everyday despite not making up to 2k (it's that bad) daily. I was practically financing that place with personal money; paid my two staffs from my pocket every month. We did only four months there as that was how far I could personally sustained the business. I sadly laid off my staffs, locked the shop till when my rent expires which was in February this year. I sold off most of the items I didn't give away at ridiculous prices as there was no place to keep them. When I sat down to count my losses, I calculated a loss of 1.6 million (which is surely more than that). I haven't recovered from the unfortunate incidents having spent all my savings. I'm married now with a child this year but I have fallen flat into the same rat-race I was avoiding by attempting to open another stream of income. I will rise, I will fully recover and charge forward.

seunlayi:
https://www.nairaland.com/4852491/how-old-when-made-first

maybachmusic:
I trade between time frames sh
4hr to see the trend

.1hr to take trades

Few trades a week not for greedy traders sha

And fact my capital is bug also 5/digit usd

showafrica:
What do you trade bro..and what time?

Purplekush:
as a 28 yr old who was fresh out of service. I started online buisness with my blog and was raking in 250 to 300k plus per month. after like 3 months the income rose to 1mil plus and even 2.some in some months.

Then I started trying out new investments...

LONG STORY SHORT: lost 800k to MMM. By Feb when MMM was confirmed to have crashed, I went ahead to lose another 1 Million naira and 6 months trying to set up another online business.

The painful part was not the 6 months of no income but the bad timing.

because, I had already paid for some plots of land before then. Paid for my new apartment. Was about making down payment for a new Corolla 2015 model when MMM crashed... and the investment started acting funny.

I was TOTALLY SCREWED!

I come lose lappy wey I buy 250k then Acer V Nitro. I was so depressed the only thing that kept me from SUICIDE was MaryJane. I owe my life to her

But then I was able to cash out around 300k plus on the 1mil investment and I am currently on another HOT NICHE and just 2 months in it i am glad to say I now make at least 9 to 15k a day.

By God's grace and if this one goes well, I should be hitting 7figures per month from next year. INSHA ALLAH! AMEN.

Nothing beats losing money to some yeye deal. It brings out the adrenaline in you.

WORD OF ADVICE TO ALL STARTERS: think Internet business. It's cheap to start and gives you room to make mistakes with less financial loses. Besides, the ROI is totally insane!

I used to have a set of video courses for pple who are always asking "show me the way" but then nobody wants to put in work. Most peeps just want free money.

lexdino:
@ the bolded is the most sensitive political statement that I have read in a while (though I am not convinced that Biafra is the way forward).

Nigeria was built on a foundation that only provides for the survival of the fittest(those in power).
Reason why our leaders can loot any funds available at their discretion, without having fear of repercussions from the embittered citizens. And having being dominated to inhumane levels of poverty, the embittered citizens will happily offer their conscience in exchange for peanuts during elections. The cycle can only keep getting worse.
Reason why a common basic amenity such as 24hr constant electricity supply will never be possible in 500 years if the status-quo is allowed to remain.
Reason why those with guns can brutalizes civilians without any fear of repercussions.
Reason why we spend 4 years in our so-called unis studying stories and theories that are of no use in real-life situations.
Reason why religious leaders make billions from preying on their sheeples because the sheeples live in a quiet fear of poverty due to the fact that government doesn't care about the living conditions of ordinary Nigerians. (Imagine the present ongoing agitation over an ordinary minimum wage of 30,000 Naira? 30,000 Naira that isn't enough for my monthly feeding expenses even though I am a single guy that does his own cooking jejely.

I don't like hearing people referring to my motherland as a shithole but in reality, it is what our leaders have made it into.
Only a well-planned forceful revolution will be able to successfully alter the present faulty foundation upon which the present Nigeria was built, and set the country on a path of prosperity.

Unfortunately, I am not willing to risk my life by partaking in any of such revolution.

maybachmusic:
Crude oil
indices
Gold

Phyde:
5k, just a day 16 games.

showafrica:
That crude oil in binary com dey me like scam.. What time do you trade?

I do volatility index under and over...

maybachmusic:
I don't do binary again



I stick to professional trading

Purplekush:
Hey t0bbY, email me. I don't do trainings again as it takes a toll on me. But I will see what I can do about the videos. I could send them over in a flash. and have it delivered to your addy using FedEx. But you have to foot the bills. Both the cost of shipping and that of the flash drive.

My area of focus is Digital marketing and importation

Purplekush:
as a 28 yr old who was fresh out of service. I started online buisness with my blog and was raking in 250 to 300k plus per month. after like 3 months the income rose to 1mil plus and even 2.some in some months.

Then I started trying out new investments...

LONG STORY SHORT: lost 800k to MMM. By Feb when MMM was confirmed to have crashed, I went ahead to lose another 1 Million naira and 6 months trying to set up another online business.

The painful part was not the 6 months of no income but the bad timing.

because, I had already paid for some plots of land before then. Paid for my new apartment. Was about making down payment for a new Corolla 2015 model when MMM crashed... and the investment started acting funny.

I was TOTALLY SCREWED!

I come lose lappy wey I buy 250k then Acer V Nitro. I was so depressed the only thing that kept me from SUICIDE was MaryJane. I owe my life to her

But then I was able to cash out around 300k plus on the 1mil investment and I am currently on another HOT NICHE and just 2 months in it i am glad to say I now make at least 9 to 15k a day.

By God's grace and if this one goes well, I should be hitting 7figures per month from next year. INSHA ALLAH! AMEN.

Nothing beats losing money to some yeye deal. It brings out the adrenaline in you.

WORD OF ADVICE TO ALL STARTERS: think Internet business. It's cheap to start and gives you room to make mistakes with less financial loses. Besides, the ROI is totally insane!

I used to have a set of video courses for pple who are always asking "show me the way" but then nobody wants to put in work. Most peeps just want free money.

Purplekush:
as a 28 yr old who was fresh out of service. I started online buisness with my blog and was raking in 250 to 300k plus per month. after like 3 months the income rose to 1mil plus and even 2.some in some months.

Then I started trying out new investments...

LONG STORY SHORT: lost 800k to MMM. By Feb when MMM was confirmed to have crashed, I went ahead to lose another 1 Million naira and 6 months trying to set up another online business.

The painful part was not the 6 months of no income but the bad timing.

because, I had already paid for some plots of land before then. Paid for my new apartment. Was about making down payment for a new Corolla 2015 model when MMM crashed... and the investment started acting funny.

I was TOTALLY SCREWED!

I come lose lappy wey I buy 250k then Acer V Nitro. I was so depressed the only thing that kept me from SUICIDE was MaryJane. I owe my life to her

But then I was able to cash out around 300k plus on the 1mil investment and I am currently on another HOT NICHE and just 2 months in it i am glad to say I now make at least 9 to 15k a day.

By God's grace and if this one goes well, I should be hitting 7figures per month from next year. INSHA ALLAH! AMEN.

Nothing beats losing money to some yeye deal. It brings out the adrenaline in you.

WORD OF ADVICE TO ALL STARTERS: think Internet business. It's cheap to start and gives you room to make mistakes with less financial loses. Besides, the ROI is totally insane!

I used to have a set of video courses for pple who are always asking "show me the way" but then nobody wants to put in work. Most peeps just want free money.

showafrica:
IQ option...? High and low you meant.. You understand exactly what I am asking but you don't want to open up.

That is, you predict the price will fall and purchase or sell?

Wiinnd:
Soccer or which market?

twlover:
Poultry Farming.

I invested approximately N12m in building a poultry for layers. Mistake I made was I buying 1 Acre of land which cost me N4M to fence, built Pen house with N3.5M,built a 5 bedroom farm house with about N3m, constructed a concrete scaffolding (with 2 standard rooms, one as store the other as Gen. House) to mount the water tanks for N1.5m

Having done all these, I struggled to get 600 layers, the rest is history.

I have put that property up for sale

Interested buyers are free to send me PM

Unigrad:
Good evening all.
Have read alot of the post and have gained alot.
I just finished my Nysc recently, no job.
please I need a good business ideas I can start with 200k.
I need to start doing something that will get me money.
Thanks for your contributions.

mac04:
Would love to learn from you.Kindly drop your digit.

Connoisseur:
2014: Lost 4m in fast food business
Feb 2016: Lost 1m in the cashew business.

Sept 2016: Lost $43,500 at the heat of the dollar crisis
I exported containers of garlic through a contact from Nairaland, buyer refused to pay. The containers still sit at the port of Karachi as at this time.

Feb 2018: Lost about 8m in the lead ore business from another guy here on Nairaland. Story for another day.

It might seem like I am careless, maybe I am. I make it as fast as I lose it. As long as my head remains above my shoulders, I will keep moving.
Stumble, rise #keepwalking

adanny01:
Uber/Taxify for example. Beer palour is another. Church etc.

You never know where its gonna happen. I guess if God wants it to happen, it will happen. That is what people call "hustling".

I know guys in Abj that leave home 7am but return 10pm. These guys dont drink but are having series of meetings trying to sell anything or render any service. The call themselves facilitators. They sit under a mango tree but can make good millions in a twinkle of an eye.

In business, the more people you know and meet, the better your chances of hitting the big deal. Stay positive and get more exposure.

lafex:
pleasemake u do soil test to know how fertile the land is before u plant anything. This is what made me lost about 100k recently because I didn't know that the land I was farming on was not that fertile.
Good luck

vowsng:
Hello, where are you based?

speedyconnect3:
How are soil tests done please?

Tallesty1:
They're not fraudsters really, reputable company with branches in many states. They're still in operation.


What I discovered was that two people were supplied the same pins but the first person distributed it first so I was on the losing side. More like an error from the sales department and they don't wanna own up to the truth.

I lost because it was written in the signed agreement that they're not responsible for whatever happens to the pin once they're delivered to your inbox so they kept saying that my email was compromised and stuffs like that but that's not true. I marked every read email containing the pins as unread and I changed my password after every successful download.

These orgs have smart lawyers that got their backs at all times.

ezenwajosh:
Well earlier this year lost mine to BUHARIA AND BAD CORRUPT GOVERNMENT, CORRUPT JUDICIAL SYSTEM AND A PROVE TO ME THEY DELIBERATELY DON'T WANT NIGERIA TO MOVE FORWARD

I INVESTED IN ELECTRICITY GENERATION....

BOUGHT ENOUGH GENERATOR AND SOLAR PANEL TO POWER @LEAST A COMMUNITY AND GIVE THEM 17HRS ELECTRICITY A DAY.... I went to NERC(NATIONAL ELECTRICITY REGULATORY COMMISSION) got a permit and started generating just after a month EEDC lost that community to my own electricity... The next thing same NERC that gave me permit now came am ask me to get a LICENSE INSTEAD but their rule said u can only be given a license if you're generating enough power to serve a STATE but anything below that is ordinary PERMIT from them....I went to court nothing came out of it....and the LICENSE IS ABOUT #200,000 000

MY INVESTMENT WAS ABOUT #17MILLION

FROM THAT DAY I KNEW FOR SURE NIGERIA WAS NEVER DESIGNED TO PROGRESS.... ITS NOT ABOUT CANDIDATES OR PARTY its about the FOUNDATION ON WHICH NIGERIA WAS FORGED. I sold all my machinary, wires, poles and solar panels... And went back to CIVILIZATION and I will never step foot in Nigeria again till we get BIAFRA

WHEN KANU SHOUTS NO VOTING IT SEEMS ITS ALL ABOUT BIAFRA HE'S ACTUALLY TRYING TO GIVE YOU PEOPLE YOUR POWER BACK.... BECAUSE ALL THE POLITICIANS ARE THE SAME....ALL THEY CARE IS GET YOUR PVC... GET YOUR PVC LETS VOTE HIM OUT AND VOTE THE OTHER IN, AT THE END OF THE DAY.... THEY WILL ALL MOVE IN TO RULING PARTY AND RECONTEST... AM SORRY AM SOUNDING POLITICAL BUT ITS THE CAUSE 90% OF BUSINESSES HAS FAILED

symbian123:
Wow. So sorry for ur losses bro. Bet investments can be quite risky. Also lost a lot to rollover betting and regular ones. Huge sums.. Are u serious about Hernandez geisha been a scammer? I actually thought that guy is the only legit fixed game merchant have ever seen? Wow!

ponti93:
are you serious about the geisha... The one on Facebook?

speedyconnect3:
How did you intend to recoup your money sir before the licence saga?

DrSam4:
Hello people
Do anyone know about Bitclub advantage?!