Not so easy for people who solely depend on it, my ladies handbag are there now, some customers are pricing it like i went to steal it, imported bags o, a lot of poor people or bad economy conditions of Nigeria is making business a tough setup. May God help us.

emmabest2000:
OP are you for real ? Discouraging people to start up a business just because yours didn’t moved well ?

You forgot that everything in this world depends on your luck and star , that its didn’t workout for mr A doesn’t mean its will not workout for mr B


By the way business is not for everyone!
You can try something else abeg !

I don't see anything discouraging there...he is telling the truth. .and one thing about the truth is that it's always bitter

Loneley:
I usually tell folks, for now, nothing beats advertising on Facebook, Google, and Instagram.

Their targeting options, and optimization methods available, can't be beat.

Mistakes people make is totally assume Instablog9ja, Nairaland, and the likes, are substitutes for the earlier mentioned platforms.

Guess we learn everyday.

Helo pls can you elaborate more on this goggle and facebook add on the right chanel to make payment before they can upload my content tnx

Drguzzykola:
Bought land for agro business last year, till today na one problem to the other from land owners( omo onile) , though things are settled now..

After spending cash to settle land dispute, na cultivation money I dey find now, but still, heart is strong, there ll b a way. No packing out..

Thumb up to All Entrepreneurs out there.

sir instead of going into direct cultivation, why not source from the north, store and sell when things change, it would save you the risk associated with farming. do more of storage, if possible by goats also from the north and keep in your farm, thank me latter

Babyforever:
Helo pls can you elaborate more on this goggle and facebook add on the right chanel to make payment before they can upload my content tnx

send me your email let me share a fb video advertising with u

1zynnvn:


Bike deliveries, we charge 20% lower to get market share. But we can't get past 200deliveries a month. Too poor to sustain the business

Location?

IbrahimDamola:


Lol...my brother, I use to be like. I use to think 'village people' were swallowing my money. So one day I decided was going to stop putting all my daily income in my purse, I started going home with only what I needed, threw away 3 ATM cards of my 4 bank accounts and left only where I paid myself salaries. I also got a POS, to discourage my hands from touching too much cash. In 3 years I was able to make 8 million in saving, yet sometimes na only N500 fit dey my Wallet. I even refused to buy a car and was hopping molue with 8 million sitting in my bank account, packed from a 2 bedroom flat to a selfcon.

Guy, I punished myself for all my previous wastages and extravagant expenses.

Financial Disciple is key o.

I hope you eat well sha.

dancok:
Not so easy for people who solely depend on it, my ladies handbag are there now, some customers are pricing it like i went to steal it, imported bags o, a lot of poor people or bad economy conditions of Nigeria is making business a tough setup. May God help us.

Lol, why not get aba and mix them, that way you can recover your cash, avoid buying highly expensive goods, they are difficult to sell only few knows there worth

Babyforever:
you see i tired.... so when i'm i signing the deal

When u meet my terms & conditions, we will commence with d signing

queenfav:
I tell people, don't ask anyone about a business you can do, figure out what you are passionate about and invest in that. I advise passion because that's what will keep you going when things are tough.



I started my human hair business in 2012 with 70k, today i run my own wholesale price depot worth millions of naira, with over 100 resellers that i have mentored. I have built my business from the ground up without bank loan. It requires discipline, sacrifice, doggeness and sleepless nights.


Owning a business is hectic, but it's the best thing that has happened to me. Don't go into a business expecting instant payout. You need to be ready to build it without thought of quitting. Give it your all, when you unlock your money level, the alerts will be rolling in even in your sleep.

pls i like to sell attachments i don't know if u can supply and guide me tru am a guy, am into ladies handbag and shoes but like to add attachment to my line of business. Reply pls.

963AvatarSpirit:


I own several companies. Be nice

Ok sir. So please share you successful scientific approach. That's the only way your post here can be useful. Otherwise it's just a condescending post that you posted.
What many VERY successful people never tell you is the help and tailwind they got at some point along the way. Most make it appear like own efforts only.

Dangote had his uncle Sanusi Dantata's mentorship/help and grand-dad Alhassan Dantata connections, Jim Ovia and others somehow got licences to operate banks from IBB & co. Something we know is not open to 99% of Nigerians.

Yes they still had to work hard. But many cocoa and yam farmers in Ekiti, Oyo & Ondo work very hard too.

I am not a complete novice in business either. My first foray into business was when I was about 15 years old.

Chidonc:

Lol, why not get aba and mix them, that way you can recover your cash, avoid buying highly expensive goods, they are difficult to sell only few knows there worth

have been seaching for people who give me links to any aba seller, i can't travel to aba but send money and like to receive my goods at my location, anybody with aba link?

IbrahimDamola:


Lol...my brother, I use to be like. I use to think 'village people' were swallowing my money. So one day I decided was going to stop putting all my daily income in my purse, I started going home with only what I needed, threw away 3 ATM cards of my 4 bank accounts and left only where I paid myself salaries. I also got a POS, to discourage my hands from touching too much cash. In 3 years I was able to make 8 million in saving, yet sometimes na only N500 fit dey my Wallet. I even refused to buy a car and was hopping molue with 8 million sitting in my bank account, packed from a 2 bedroom flat to a selfcon.

Guy, I punished myself for all my previous wastages and extravagant expenses.

Financial Disciple is key o.

Financial discipline is good, but too much of everything is bad!
Your own is extreme....haba!
If you continue like this, you maybe punishing your wife & kids, thinking is financial discipline. Moderation is key in all we do!

Mind u if u die today, what happens?
Learn to apply moderation in all u do abeg...this is extreme!

Omudia11:
That was a very wrong choice of business.
How can you spend 4m in opening a supermarket. I know businesses you can start with 1m and tripple that in a month.

example of such business please

adonainana:


Whats is even vexing me is that i see new banners on nairaland everyday, especially on top page ( usually the politicians who paid 500,000 into Mr Seun Osewa bank account) since we all pay for advertising credits the same way. So whats vexing me is that im sure he acts really fast on the big money guys and us the guy who paid 20,000 into his account, we probably arent that important.

Have lost count on the follow emails i have sent (Attached evidence of payment from Morning to Night)

And you see i am losing customers everyday like that oooo. Kai this stuff painful

How many ads are on Nairaland that they can't process every request rapidly? Something is wrong somewhere.

dancok:
have been seaching for people who give me links to any aba seller, i can't travel to aba but send money and like to receive my goods at my location, anybody with aba link?

it is not advisable sir, travel down to aba for the first time to make your picks before collecting numbers, it would give you the opportunity of choosing your taste, after which you mix them with the foreign bags, make sure you raise the prices so that once the customer pleads a little you can sell.

Chidonc:

sir instead of going into direct cultivation, why not source from the north, store and sell when things change, it would save you the risk associated with farming. do more of storage, if possible by goats also from the north and keep in your farm, thank me latter

Hmm,, u av a point, i will give a rethink abt this.
Thanks bro

Babyforever:
or invest the money on me #SLAYQUEENGOALS

Then what will be his profit?

Onnasucs1:
Every single day I visit the business section here on nairaland, It's either I find the crew who have money but don't have a business idea or I find those with business idea but lack money.

Whatever crew you are, please never start up a business if you're not dogged. That business idea might appear rossy in your brain until you start it up in the real world.

I started up a business barely a month ago and I'm almost loosing my mind. Is it the sleepless nights(sometimes working from 1am-7am) I'm going to talk about or the failed projects or the rude customers or the unnecessary but compulsory expensis or the pressure to give out the best at all times or the uncertainties.?

Hehehe...Because of business, I am now a professional Liar. Lord have mercy!

Now I know why most businesses don't last long. Not everyone is willing to go through the stress.

I now respect Dangote, Otedola, Adenuga, Jim ovia, Tony Elemelu...they are many

Your business will break your heart so many times. (I'm heartbroken at the moment)

Please if you're not dogged, don't think of starting up a business.


If you have started one, never back down. If it gets tough, you too get tough. In the end, you'll succeed.


I have made up my mind to continue to press on. No going back



My respect goes out to all business people.

Best thread ever.
Thanks OP.

groomed:
lol.. pele... people like us wey take loan to start business nko? I have about 1,050,000 hanging on my head. we will be paying around 450k soon. Then, 500k few months from now. I had paid 700k between November to December lol.

Business is slow, these people need their money. The man who promised us disappointed us and so we had to start looking for our own customers to sell bit by bit

I don't have extra funds to run ads, otherwise, things would have moved pretty fast. I intend to buy a car for easy movement this year so I can reach a lot of communities.


Works for Marketing
Facebook ads
Influencer Marketing
Youtube Videos
Website
Flyers/Handbills
Jiji

And lots more.
community outreach.

never collect interest loans to startup a business, rule number one.

Koval12:
Wonderful thread. Spent over 4m to set up my supermarket business about two years ago. Till today, am still battling for stability. It's been one loss after another. Now am heartbroken because of expired goods totalling about 200k. Even people owing me don run comot

We need to talk...i may be of help. That's my field. WhatsApp me on 08092807880

Chidonc:

never collect interest loans to startup a business, rule number one.

no interest. it is from friends.

Very funny thread

I went through all these but I made good success anyway. Here are my tips.

1. Get a job first

2. Find a biz you can do while working or get a job that will allow you do some biz
3. Start with savings from your salary and don't eat from the biz. Business grow faster when no one depends on it

4. When you make losses, save the situation from ur salary.

5. Keep learning and keep investing
6. When the business is strong enough, resign from your job.


***Eating from a new business is the major cause of business failure.

djon78:



Don't mind them, there are many that stole government money but made nothing out of it.

Aliko Dangote is a solid business man.

To succeed in business no be beans

Gbam! You sure right

Drguzzykola:


Hmm,, u av a point, i will give a rethink abt this.
Thanks bro

think it over, that is what am doing now little by little, since I base in the north, am already travelling around most communities to know what they produce and how much a per bag at a particular season, the farmers takes the risk of crops production, you only take the cost of transportation.

Rubbiish:

Not always fruitful most times...So many people u see doing nothing have invested in one business or the other, but everything went down drain. I will advice graduates to think properly before investing in any business....

They should start small, but some will not hear
They want to even take loan of 2million to start a first time business

adonainana:
Starting your own business is crazy oooo, I help individuals, business and companies incorporate and register thier business online. Its been about a month now since i paid 20,000 Naira to Mr Seun Osewa Zenith Bank account to help me with my advertising credit so my advertising banner can be live on Nairaland. Have not heard Pim from the email we are meant to send our evidence of payment to.

I was also scammed by instablog9ja, i paid 50,000 Naira for a post, till today he keeps on saying he thought i wanted a instagram story as opposed to a post.

Its not easy running your own business oo like you are so much in debt already before you even begin to make any money whatsoever,

Mynd44 and lalasticlala kindly look into this

groomed:
no interest. it is from friends.

OK, paying formula for loans, don't attempt to pay everyone all At once, also assuming you are owing 3 people 450k at 150k each, while you have free 150k to settle one of them , don't, instead share it among 3 of them while they may not be totally happy but at least you would get all three of them off your neck for some time instead of just one person and the other two hanging.

Chidonc:

it is not advisable sir, travel down to aba for the first time to make your picks before collecting numbers, it would give you the opportunity of choosing your taste, after which you mix them with the foreign bags, make sure you raise the prices so that once the customer pleads a little you can sell.

thanks.

Omudia11:
That was a very wrong choice of business.
How can you spend 4m in opening a supermarket. I know businesses you can start with 1m and tripple that in a month.

Kindly List the businesses

Rubbiish:

Financial discipline is good, but too much of everything is bad!
Your own is extreme....haba!
If you continue like this, you maybe punishing your wife & kids, thinking is financial discipline. Moderation is key in all we do!

Mind u if u die today, what happens?
Learn to apply moderation in all u do abeg...this is extreme!

I lost about 4 million due to lack of proper financial control. That money still dey pain me walahi. I would have been richer if I weren't that naive.

As for my future family and kids, It's because of them I'm basically fighting now. The future will be tougher when the kids start coming, so full and business expansion is needed now.

The reason why I'm still single is because I need a woman who is financially articulate as she is coming in to run some of the businesses and make us richer as we expand. I know former billionaires who became poor after marriage and I know poor men who became richer after marrying financially responsible women. My business mentor is one of them. He use to beg my dad for loans few decades ago, today he is a billionaire with houses scattered all over Lagos, Abuja Onitsha, Aba, Owerri. His wife was his forte in his business.

As my Dad would say 'Marriage is a financial contract, whether you like it or not. That's why properties are shared and alimonies are paid during divorce'.

My advice to anyone who wants to start a business.

1. Spend sometime to learn the business from some one who is already successful in that business, no matter how good your Ideas seems on paper.

2. Ensure you get a good location when starting, it will helps a lot.

3. Don't be in a hurry to take any financial decisions.Think over & over again.

4 Raise enough capital before starting, not all business can succeed with small capital.

5 Avoid business that requires too much expenses, especially on power.

6. Read books on business, don't go into business without knowledge.

7. Be humble , especially to those ahead of u in that business, treat customers with respect & build your brand.

8. Learn to take chances, you can not learn everything or know everything unless you have started the business.

9. The early stage of starting will be tougher, don't give up.

Finally, Pls note that business is not easy, you need to be very prayerful & put your total trust in God, if you're a Christian, business requires power to be successful.

I started mine few months ago, I can say God has been faithful.