This is one reason I stopped borrowing money to people. If u borrow money from some one make sure u pay, no stories, shit happens and life is not fair, don't let another man suffer for your misfortune, find a way to settle him.

hello sirs and madams,

I have 0% knowledge on the production, marketing and value of naturally made "effective" skin care products. I am willing to team with experts or persons with knowledgeable experience to build a range of products for the Nigerian market.
Capital will be provided by ME and any other adequate provision required.
please send me a mail and a means of continuous contacts in an email to diddylala2014@gmail.com


*meanwhile i am starting my own research on this too. I expect your mail and to work with you or your team.

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

Your first mistake was borrowing money to start a business. Your second was borrowing at a very expensive rate.
My advise will be to quickly source for an interest-free loan from your family and friends to pay up. Otherwise, you will be in a very bad situation.

Thank you

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

pls where do you base maybe if we can rub minds together and if possible, call me so we can talk over the phone

TheOptimist78:


I raised money(2.6million naira) for my business without borrowing and all those Cooperative societies you're talking about. He can do it with the right mindset and strategies. Once again, it's not really a good idea to borrow money for a business as he has painfully learnt

please sir, how did you do it and how can one develop that right mindset.

ogbonti:



You can only do well in a business you already have an idea of how it is done, not a business someone told you about that is lucrative and baaam, u jump in to cash in. For instance, you work as a store boy helping a master sell Benz spare parts. Let’s say you do that for like 5 years, you will learn from your master’s success and mistakes, what to buy that moves (say head lamps or gear box) and what NOT to buy that may take too long to sell, (maybe steering or bumper) I am not an expert in this, I am just being hypothetical. So over the years, you will also learn what parts move in certain seasons, maybe during rainy season, radiators sell more or dry season the brake pads or cooling unit sell more, I hope U following, also when u work as an apprentice, through your boss’s interactions with his vendors, you will know where to buy that’s cheaper with warranty and also get feed back on the trends in the industry. You will even have your own contacts (importers) sooner than you think, and start having your own client base (auto mechanics and collision experts in your area). So when you start off being your own boss or business owner, it won’t be like you are throwing yourself to the lion to be eaten raw. It will be a seamless transition, as you would have saved considerably over those years, and because you already have contacts due to these years of being a trusted apprentice, you may not need all that capital to start procuring your first stocks, as trust from the vendors who know you through your former boss may come handy. Now trust takes time to earn, its not what you wish for overnight.


Memory verse , NEVER START A BUSINESS YOU KNOW NOTHING ABOUT OR HAVE NOT BEEN WORKING IN FOR AT LEAST 5 YEARS. Take some time to learn the ropes. It is not everything you google and find the correct answer. Some things are learnt from experience but let that experience come at the expense of your boss, who you work for as an apprentice or employee than from you running into debt. Good luck!

wow! Thank you for your time sir.. God bless you

yomi007k:
If not you may need to give him some form of collateral.

shogotermies this is a good advice, give your friend a collateral.

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

Just pay him back simple.

joeeee240:



How good are you at online marketing? And what forms of social media are your strongholds and how good and effective are your methods?

We will use platform like Facebook and Instagram for your product push and more so content marketing also works for a new product to gain some visibility.

You must be able to handle massive production after orders flow in and knowledge of how to make deliveries by post or courier.

Product MUST be working for long term growth and good return on investment because of RETURNING CUSTOMERS(that's where the money is )!

g2db2do:
this your response is highly commendable despite the flaws in your story. Congrats anyways, u have successfully helped someone get a start up capital in the form of loan..liar

Meanwhile the main guy(scammer) hiding somewhere on this same thread

Hahaha

Lesson learnt, don't ever venture into all these Oriflame business, they don't work! Take heart, I've also lost money to scammers, nothing to be ashamed of, just learn the lesson and move on!

Hmmmmm, your case is very pathetic, I work and earn peanut after 7-6pm job. no flare and interest on the job, I have all the opportunity of getting a loan of N1.5m with 100% interest per annum, a year oooo not even a month, I don't want to try getting it because I still consider the rate high. DON'T TAKE A HIGH INTEREST RATE LOAN FOR BUSINESS, 13% MONTHLY INTEREST RATE LOAN FOR BUSINESS IS NOT JUST BAD BIT DEVILISH.

[

quote author=shogotermies post=79364339]Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations
[/quote]

Let me first appreciate you, for taking the risk. Many will bully you don't bother most are still fed in their paid job offices. You have learnt a big lesson doing this biz pls read this book "The richest man in babylon" it will greatly help you. On the loan, get someone close to the man who borrowed you the money that he should give you time that you will pay soon. Then look up believe in God and yourself the sky is your starting point.

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

Do u pay interest monthly?

shogotermies:


You guys judge too quickly,.
I need an advice not stones of insults.

We all do one mistake or the other, thinking of this business is a mistake.
I need some to give me a good advice, not people who judge,while they are no saints

My friend, shut up and answer that question. What am I saying sef? How can I ask u to shut up and at the same talk. Just answer the question jare an stop talking about judging. Wen una don cast unasef finish, na den una know wetin dem dey call judging. Iranu

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

go to Joro Olumofins page on instagram, post your products and services for just 10k. You should have planned out how you will publicise you skin care products, cos you have great competitors in the biz.

Hycon:


We will use platform like Facebook and Instagram for your product push and more so content marketing also works for a new product to gain some visibility.

You must be able to handle massive production after orders flow in and knowledge of how to make deliveries by post or courier.

Product MUST be working for long term growth and good return on investment because of RETURNING CUSTOMERS(that's where the money is )!

What is content marketing?

obiekunie2:
you didnt tell us how you into the hands of fraudstars.

i guess you went for a fast money doubling - tell us is that betnaija guy on nairaland or you are among the boom or is it doom investors?





TOO MANY IDIOTS IN THIS COUNTRY I SWEARAGAD!

u dat have lost ur virginity nko

OkaNaUbe:


Just as your bad grammar shows that you lack adequate knowledge in the use of English Language, you lacked the needed information in Organic skin care business. How do I know? Do you have a business plan NO!

u don't need either grammar or a business plan to succeed.



Determination is d real thing.....keep failing till u suceed.

TVTKOKO:
wow! Thank you for your time sir.. God bless you

you are welcome Sir, the Lord is your strength, God bless you too

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

This is why it is very very very wrong to start a new business with borrowed money. Borrowed money should only go into the expansion of an already established business with a very positive future.
I'm so sorry for your situation and I hope u find a way out of this.

nnamdiumeh:
Some people on this thread need serious mental evaluation

Btw OP if you're really into skincare products all you need is a working product with results, and with the help of social media you're off.

Business no be beans sha

many mentally deranged fools in Nigeria

Just look at the nauseating comments

how do these comments help the OP now?

millionboi2:
u don't need either grammar or a business plan to succeed.



Determination is d real thing.....keep failing till u suceed.

If you dont have adequate knowledge in any business you are doing, you will fail. Determination alone can't do it.

shogotermies:
Hello everyone.Am a guy in in early twenties,.
I wanted a better life for myself, without the help of anyone,.

So I collected a loan from a friend, he lent me a 100k to start the organic skincare business, two months ago.
Which we agreed on an interest of 13.5%, and had it on papers too.

So I was able to make production in two weeks,.
Fast forward.

So I was unable to pay the interest rate of 13.5%, so Iwas able to pay 10%, which is 10,000.

The guy got mad, he was really angry.
But due to d fact my skincare products is just still new, sales was just so poor.

Now I am to pay him, today for the interest unlucky for me I fell into the hands of some fraudsters, I lost my money. But the issue is, I can't pay the interest now, my business isn't showing any positivity. Am frustrated, I need advice on what next to do.

He is now sending me message and insults, thinking am doing this on purpose..


Please mind my grammar and punctuations

Welcome to the world of entrepreneurship.
Do not panic. Maintain your cool. Call him and explain to him what happened. At worse, he will invite the cops. Go to the station, explain yourself. Bail yourself and reschedule how to pay the money back. When he rants, let him rant. Do not, I repeat, do not commit your heart to this. Failing is an integral part of the life of an entrepreneur. 18 months ago I lost 1.3m to my rice farm. The money came from my cooperative society contributed by over 50 persons with various characters. There were insults, threats and actual action. I didn't die. I stood and today, I have less than 200k to complete the repayment of the money I lost.
Now the lesson> Never ever borrow to start a business, a venture or anything. Never.

you are still quite young business failure shouldn't be your thing....see how you can succeed in your business in a professional manner
https://explicitsuccess.com/how-to-succeed-in-business/

PrecisionFx:


It's a terrible idea to borrow and start a business from scratch, it lands u in losses m bankruptcy very quickly.

Loans can't land you or entrepreneurs in bankruptcy just the same way your own money can't. Loan issues not problem but the unfavourable conditions attached to it. That's the difference

U can't loan money for a business u don't even know what the outcome will become

Yes, you don't know what the outcome will be, that shouldn't prevent you from taking the risk of loan. But one just has to be careful of where the loan is coming from. That's all

You see why banks don't borrow rookies money.

TheOptimist78:

I raised money(2.6million naira) for my business without borrowing and all those Cooperative societies you're talking about. He can do it with the right mindset and strategies. Once again, it's not really a good idea to borrow money for a business as he has painfully learnt

You raised capital without borrowing. How is the real question here. In my earlier post, I said that when one is unemployed or underemployed. I'm very much interested in knowing how you achieved such feat.
I borrowed to do business, he borrowed to do business. The difference is the conditions attached to the loans. He's not complaining about the loan but about the unrealistic and unfavourable interest.
Firstly, he gave part of the loan to fraudsters.
Secondly, it is the unfavourable interest rate that's killing him.
That's it.

OkaNaUbe:


If you dont have adequate knowledge in any business you are doing, you will fail. Determination alone can't do it.

lol

U can learn why u fail.

maasoap:


Loans can't land you or entrepreneurs in bankruptcy just the same way your own money can't. Loan issues not problem but the unfavourable conditions attached to it. That's the difference



Yes, you don't know what the outcome will be, that shouldn't prevent you from taking the risk of loan. But one just has to be careful of where the loan is coming from. That's all

There are no loans with favourable conditions.