₦airaland Forum

963AvatarSpirit:
I have read through the thread and there is no single success story. Reason being that none of the posters had a really good reason for going into business and secondly, do not even know the most important reason that makes a business succeed. Just people who are battling to make money.

Money is not the reason you should do business but, just a tool. No matter how much money you have, it is just a tool. If you believe cash is the reason you should be in business, you have a set of wrong data running through your mind.

Stop wasting your time and money, just go back to the basics friends.

Another motivational speech.

So what's the reason for business?

Passion?

What was the reason Dangote started selling cement?

Have you read Wealth of Nations?

dame134:
Brother, kindly share this piece with me too.:
damejohnsen@ gmail.com.
Thanks Brother. I legit appreciate.

I will once I collect my system from a colleague within the week.

Speedyconnect15:
You forgot to add "no girl maintenance too"

My brother, that one no even follow for agenda.

whytediamond:
I have a very funny and annoying case I'm dealing with right about now.

A company contacted me to design calendars for 2019 for them. After 2weeks of designing and countless tweaking plus product photo sessions, it got to the print stage and I suddenly the company said they can't pay the amount I requested for the print job.

I said OK fine, this is the soft copy of the job, get a printer to do the printing for less than what I offered, they went ahead and printed elsewhere even though the manager later confirmed they paid more for the printing compared with what I offered.

Now, the issue is this, I need my money for my intellectual property and time put into the design for calendar that they have already shared to their customers. To my greatest shock, I was told I won't be paid a dime.

What is their reason for not paying me? That I wasn't the one that printed the job, hence I won't be paid for the design. Like wtf are they talking about.

I'm already getting legal advice on how to recover my money from them.

Starting up a business ain't child's play people. Perseverance will surely pay in the long run. Stay focused, don't give up.

@emphasized, that was very naive of you!

Every designer worth his onion knows that down payment of between 50-80% or even full payment in some cases must be made after agreeing to work together.

That you did not, secondly, you went ahead and handed over a raw softcopy to a client without design payment made. Who does that?

You better get a strong lawyer oo if not, oyo is your name.
Hopefully you would learn from this major goof

Sense pill: sardines don't survive in the sea of sharks.

xxxx

Please apply for Tony elumelu enterpreneurship program 2019, this year they are picking 2000 people and not d regular 1000.. the program program manager mentioned it.. selected ppl get 5000 dollars..

Guys before u run a business write a good business plan and use lean startup techniques.

Mentorship is a way of bypassing the heartbreaks and mistakes

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.

care to list them, abeg

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.

You are a slave to money. Its high time you start making money work for u

1zynnvn:
lol, month don end about 4 staff dey wait for their pay, for the past few months we started we've been paying them off our pockets, the business cannot pay them yet, this month I just dey look them as money no even dey. I've been brainstorming on how to enlarge the market. Abeg Any marketing gurus to advice us on how to enlarge the customer base? money no too dey for ads

As long as you don't quit there is still hope.

What business are you into?
That's how i'll know what approach i think you can use to get more sales

I have read through the thread and there is no single success story. Reason being that none of the posters had a really good reason for going into business and secondly, do not even know the most important reason that makes a business succeed. Just people who are battling to make money.

Money is not the reason you should do business but, just a tool. No matter how much money you have, it is just a tool. If you believe cash is the reason you should be in business, you have a set of wrong data running through your mind.

Stop wasting your time and money, just go back to the basics friends.

You actually said nothing.

Naughtysite:
People don't know the usefulness of Mentorship.

Before I started out my first business I approached a Mentor and gained 300% returns in 12months.

When I started my second business, I failed to approach my mentor which would have saved me so much headache, stress and loss of my initial profits.

So that's the problem most young business people have, they make up the profits inside their head and expect it to flow accordingly in real life without guidance.

Another mistake is seeking advice from the wrong people who lack experience in the area of business you are going into.

You have never being in business or just been plainly mischievous.

queenfav:
Sure

I would send u a message on WhatsApp

mployer:
You have never being in business or just been plainly mischievous.

Define Idiot..

amgr8:
You are a slave to money. Its high time you start making money work for u

you are saying what you learnt from a book...mtcheww

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Whatsaap?

Onnasucs1:
you are saying what you learnt from a book...mtcheww

I am not saying what I learnt from a book by the way, am a good reader but what am telling u in brief is that you have to start doing something that would make you money even when sleeping, on vacation, or when clubbing or even having séxual intercourse with your wife at nyt

priceline32:
Guys, Business is tough. The risks are monumental. You are the author of your fate. Only the strong will make it in business. I am a goat farmer and we have started an agro loan business.

I will say this first. The agro loan business to me is the biggest risk i have ever taken. Even though we have safety measures, It is still very risky. I wouldn't do it if it is not for my partners.

THIS IS WHAT WORKS FOR ME. I like to build things from ground up. I like things i can feel and can multiply. I only want to go to market if i want and not because i have to. In my goat ranch, i have enough goats i can afford for now and planning to increase the herd. Goats give birth to 2 mostly and 3 sometimes. So 200 females goats can literally double in a year. so in 2yrs i can have up to plus minus 550 goats from 200 females. And in 3yrs, do the math and add their kids that can now have a kid now. I have other dealings but this is the one i think everyone can easily grasp the magic for now.

I bought a huge land where land is dirt cheap. With 4m and the right mentor, you will be on your way with this business. Many billionaires work for many years underground. If i decide not to do the business, my land will still be appreciating and i can rent it out to other people farming different thing.

Superstore business to me will break you heart really quick if you don't understand it. unfortunately a lot of people rent a shop and fill it with goods and to them, they have started business. You are joking.

We need to stop this instant gratification mentality. Every big business person you see out there paid heavy dues. Hard work plus luck does the magic.

Money is in the little things we take for granted. A lot of people would have been stinking rich if they took the advantages in their village. But they will leave their village and rush to town. People who have made it don't give up secretes like that. Information is power.

Entrepreneurship is about solving problem. Look for a problem that is affecting a lot of people, find a solution and get paid. Importing shoes from China or creating IG OR FB page to sell things is not a sustainable thing to reply on. Copying will kill you.


Advice:
1. I believe in gradual growth. No quick way to make it in business. People will deceive you, praise you even though they know you are heading the wrong way.

2. Don't do what everyone is doing. What everyone else is doing will lead you to no where. They will lie that they are making money from it meanwhile they have another means of making money. Don't ever ever follow what everyone else is doing.

3. If you have decided to do business, just know that you have decided to open your heart for beatings and heart break. As a business man, your job is to constantly seek out what works and where it works for you. You business might work in lekki but will never work in Epe. So be ready and open minded to make that sacrifice.


4. Mentor. You need a mentor. Dont just go and borrow money and start something someone told you and you heard it is working. NO NO NO. You will die of high BP. Without the right people, no body will ever succeed. You always need the right people.

ONLY TUST THE ADVICE OF SOMEONE WHO HAS SUCCEEDED IN THE BUSINESS YOUR ARE PURSUING.

peace.

Raw undiluted truth served right here....

priceline32:
Guys, Business is tough. The risks are monumental. You are the author of your fate. Only the strong will make it in business. I am a goat farmer and we have started an agro loan business.

I will say this first. The agro loan business to me is the biggest risk i have ever taken. Even though we have safety measures, It is still very risky. I wouldn't do it if it is not for my partners.

THIS IS WHAT WORKS FOR ME. I like to build things from ground up. I like things i can feel and can multiply. I only want to go to market if i want and not because i have to. In my goat ranch, i have enough goats i can afford for now and planning to increase the herd. Goats give birth to 2 mostly and 3 sometimes. So 200 females goats can literally double in a year. so in 2yrs i can have up to plus minus 550 goats from 200 females. And in 3yrs, do the math and add their kids that can now have a kid now. I have other dealings but this is the one i think everyone can easily grasp the magic for now.

I bought a huge land where land is dirt cheap. With 4m and the right mentor, you will be on your way with this business. Many billionaires work for many years underground. If i decide not to do the business, my land will still be appreciating and i can rent it out to other people farming different thing.

Superstore business to me will break you heart really quick if you don't understand it. unfortunately a lot of people rent a shop and fill it with goods and to them, they have started business. You are joking.

We need to stop this instant gratification mentality. Every big business person you see out there paid heavy dues. Hard work plus luck does the magic.

Money is in the little things we take for granted. A lot of people would have been stinking rich if they took the advantages in their village. But they will leave their village and rush to town. People who have made it don't give up secretes like that. Information is power.

Entrepreneurship is about solving problem. Look for a problem that is affecting a lot of people, find a solution and get paid. Importing shoes from China or creating IG OR FB page to sell things is not a sustainable thing to reply on. Copying will kill you.


Advice:
1. I believe in gradual growth. No quick way to make it in business. People will deceive you, praise you even though they know you are heading the wrong way.

2. Don't do what everyone is doing. What everyone else is doing will lead you to no where. They will lie that they are making money from it meanwhile they have another means of making money. Don't ever ever follow what everyone else is doing.

3. If you have decided to do business, just know that you have decided to open your heart for beatings and heart break. As a business man, your job is to constantly seek out what works and where it works for you. You business might work in lekki but will never work in Epe. So be ready and open minded to make that sacrifice.


4. Mentor. You need a mentor. Dont just go and borrow money and start something someone told you and you heard it is working. NO NO NO. You will die of high BP. Without the right people, no body will ever succeed. You always need the right people.

ONLY TUST THE ADVICE OF SOMEONE WHO HAS SUCCEEDED IN THE BUSINESS YOUR ARE PURSUING.

peace.

This is the best contribution I have seen on this thread. Many don't even understand the basics of business.

Learnt from your contribution.

CaptainFM1:
Rule #. Do not pump your personal money into supermarket and grocery stores...except for the building/structures alone.

Once you have your hall ready, go into contracts with suppliers...usually directly from the manufacturer/producer. Create a section/shelf for all of them and let them be supplying you. The contract will detail how and when they will be collecting their money. All you need to do is to add your little profit on every single items they supplied which should match your operating cost and expected revenue.

Any items expiring or have expired will be retrieved by them and replaced. But you don't want that to be happening to your suppliers, so you collect base on how many you can satisfactorily and comfortably sell. Another good advantage of this is that, you may not need to run around in trucks buying items in piecemeal. Just a phone call to your supplier, and they will come right delivering to you if your retails sells fast and makes quick money for them.

That's how mega stores operates. They don't go buying say....200milos, 250bournvitas, 150UAC breads et al, to stock up stores.... Depending on reputation, contract formalities may take 1 to 6months or more because both parties will want to have a level of trust and confidence in one another.

So list all the items out..., group them into: direct supply from: companies, retails and maybe just few you identify to purchase with your money just to keep the store look "filled up". Also, if you have enough free space, you rent a stand/shelf out to people selling items such as perfumes, make-ups and cosmetics. You collect rents on those. They all add up to fill the space.

The actual rule is: other peoples time, other peoples money, other peoples resources, other peoples this..., other peoples that. "Other peoples intellects"....If you can harness that too, the better. I've just giving you bit of mine now.

However, the golden rule is...."You will have to pay your fair price to other people's whatsoever"!

Another one. Awesome!!!

936 avatar spirit is the bomb!!!

He has opened my eyes to another level!!!!

amgr8:
I am not saying what I learnt from a book by the way, am a good reader but what am telling u in brief is that you have to start doing something that would make you money even when sleeping, on vacation, or when clubbing or even having séxual intercourse with your wife at nyt

you'll have to work to set up such a system right? And you referred to that work as "working for money"

How will money work for me if I don't work for money at first?

Rubbiish:
So so true.
Running a business is not easy.
I have made up my mind to invest in landed properties and buildings alone, or keep the money in the bank.

Will you be interested in this property
Two units of mini flat and one two bedroom flat @Alakuko, Lagos
And two plot of land @ewekoro local govt,Ogun state

Ademat7:
Will you be interested in this property Two units of mini flat and one two bedroom flat @Alakuko, Lagos And two plot of land @ewekoro local govt,Ogun state

Too far from me sir

I started selling books and stationeries, supplying to schools in 2015, I've learned a lot while at it. Working for others put money in my pocket but I spent it easily, working for myself has made me understand how to keep money in my pocket for longer. Business is very tough, you need endurance and an understanding of various personalities, you must be friendly too to succeed. Good luck

I have read through the thread and there is no single success story. Reason being that none of the posters had a really good reason for going into business and secondly, do not even know the most important reason that makes a business succeed. Just people who are battling to make money.

Money is not the reason you should do business but, just a tool. No matter how much money you have, it is just a tool. If you believe cash is the reason you should be in business, you have a set of wrong data running through your mind.

Stop wasting your time and money, just go back to the basics friends.

what is this one saying? money should not be the reason/motivation for doing business? you must be very busy without doing anything.

DeLaRue:
I've spent millions on my farm in the past 15 months, inluding about N2m in salary. Just paid salary again today.

Yet, total revenue to date - just N300, 000!

I should make more money this dry season, but I need to spend about N500k over the next 2 weeks to make that happen.

I'm beginning to doubt if I'll recover my investment.

The vast majority of new businesses fail. It happens every where, but in Nigeria, the likelihood of failure is extremely high.

maybe you don't know how to do it.

The10thMan:
My mum used to say, cutting an Iroko Tree by mouth is easy.


The person says ''I'll just cut it like this and slash it like that and swing the axe like this.....and it will fall with a great crash''!

it doesn't mean the tree cannot be cut down.

bigiyaro:
it doesn't mean the tree cannot be cut down.

With mere words, IT CAN NEVER BE CUT DOWN. NEVER.

quod erat faciendum.