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What Lead To The Collapse Of Your First Business? - Business (5) - Nairaland

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Re: What Lead To The Collapse Of Your First Business? by Nobody: 9:50am On Nov 16, 2019
gokecont:




After 3 aboki disappoint me, my bike dey house now nobody want buy an self... I can bet you bike business na wahala biz.
Sell the bike to me

1 Like

Re: What Lead To The Collapse Of Your First Business? by hefelove(m): 9:52am On Nov 16, 2019
NGRsenate:


Did all that. Lol even sponsored a fashion show back then in school with locally made sandals for ladies.

Use yourself as an example. Let’s say i come to meet you with shoes, locally made and i tell you it costs 28k. Even if you have the money, will you just buy it?

Tell me in detail what will go through your mind?
LOL boss people dey wey go buy am o. I swear if i have the money I will buy it cos I sabi better footwear

1 Like

Re: What Lead To The Collapse Of Your First Business? by Nobody: 9:53am On Nov 16, 2019
Please do you mind naming the few solid ones you know.
I really need to learn from someone who knows it well.
Thanks.

NGRsenate:


Even at that, it was still too expensive. One shoemaker will insist he wants 25k, nothing less and if we add our own percentage the price blows up. Let’s not forget delivery again, the best shoemaker i had was living somewhere after Ojo, 1k wouldn’t deliver from there to us and then to the buyer.

We started with adding 20% and cut it down to a measly 1.8%. Another thing is the quality. There are very few small time shoe makers who actually make solid shoes, very few I promise.

2 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by Jones4190(m): 9:53am On Nov 16, 2019
xpresseeve:


Bros you could be the one sent to deliver me.

I found a thread on Nairaland about bread distributorship and tried it out with very wonderful results. I make about 2k daily from selling the 50.00 type just in my locality alone.

Now I need to expand and would like to do that with bikes. I project that I can make about 10k daily with two bikes. They only need to work like 4 hours per day.

Can you arrange two functional bikes for me at 50k each?
let me tell you the trikes behind the okada business:
1. don't buy the bike yourself, allow the person who will be riding the bike to look for available bike for you, all you need to do is to tell him your budget.

2.do not go for new bike to avoid police wahala, ( Take this serious)

3. do not go for super return, slash the weekly return to favour the person riding it, if other are received #1500 per day, make you own #1000. ( The benefit are numerous) at last na you go enjoy pass.
4. the key to any successful Okada business in Lagos lied in the hand of Aboki so I will advice you to go for mallam.

29 Likes

Re: What Lead To The Collapse Of Your First Business? by NGRsenate: 9:55am On Nov 16, 2019
Niyoda:
Please do you mind naming the few solid ones you know.
I really need to learn from someone who knows it well.
Thanks.


Check this guy out.

https://instagram.com/malikostudios?igshid=127rvv5yttt6d

1 Like

Re: What Lead To The Collapse Of Your First Business? by kraayfeesh(m): 9:56am On Nov 16, 2019
Jones4190:

there is oo my brother, infact that is my business, don't even go for the one of 100k, look for the one of 50k, buy two and give aboki to be delivery 6k each every week.



Can you please drop your WhatsApp digit? i'd love to have a chat with you pls

2 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by NGRsenate: 9:56am On Nov 16, 2019
hefelove:

LOL boss people dey wey go buy am o. I swear if i have the money I will buy it cos I sabi better footwear

Easier said than done.

I’ve been there, I’ve seen it.

Your sentiments will always come first no matter how rich you are.

2 Likes

Re: What Lead To The Collapse Of Your First Business? by Jones4190(m): 9:58am On Nov 16, 2019
kraayfeesh:




Can you please drop your WhatsApp digit? i'd love to have a chat with you pls
drop your own I will add you

1 Like

Re: What Lead To The Collapse Of Your First Business? by BIODAVY(m): 9:59am On Nov 16, 2019
Trade volatility index. Telegram @BlessedIsaac

1 Like 1 Share

Re: What Lead To The Collapse Of Your First Business? by hefelove(m): 9:59am On Nov 16, 2019
NGRsenate:


Easier said than done.

I’ve been there, I’ve seen it.

Your sentiments will always come first no matter how rich you are.
No bro only those who don't know quality will price rubbish o

1 Like 1 Share

Re: What Lead To The Collapse Of Your First Business? by UDOKABESTLUV(m): 9:59am On Nov 16, 2019
If you are interested In blogging Business, don't forget to reach me out immediately, I'm a professional blogger, I will teach you how to improve your business, so it wouldn't collapse.

1 Like

Re: What Lead To The Collapse Of Your First Business? by Nobody: 9:59am On Nov 16, 2019
Re: What Lead To The Collapse Of Your First Business? by Codedboy95(m): 10:00am On Nov 16, 2019
ArticleBeast:

What happened to Facebook ads? It is clear you went into importation without a mentor or just purchased goods because they appealed to you
Re: What Lead To The Collapse Of Your First Business? by achi4u(m): 10:01am On Nov 16, 2019
We Igbos believe in apprenticeship before setting up any business because every business has a soul,when u know the in and out of any business, succeeding is just a matter of time. Be patient with any business u venture into, don't touch ur seed (capital) and change ur life style.
You won't know all this because you don't have a mentor who nurtured you for close to 5to6 years.
Intead of you going into importation with a megre 500k why not look for a better location and start selling women's clothes.

28 Likes 3 Shares

Re: What Lead To The Collapse Of Your First Business? by Prettyjanet1: 10:04am On Nov 16, 2019
zeelux97:


Look for a bike mechanic around you or even an okada rider and tell him you need a second hand bike, they are usually the first to know when anyone wants to sell their bike. You should get a feedback in less than three weeks.

If you have no knowledge of bikes I'll advice you to look for someone who does cos there are really bad bikes out there. Even if you have to pay them a stipend to help you inspect it.
The person would be able to tell how much the bike is really worth, and most importantly save you from buying a bike that would be giving you troubles all the time.
This is a good idea but also a bad idea on the other side. Do you know there are some mechanics that connives with the seller? The seller can call it 70,000, mechanics call it 100,000. The mechanics himself knows d okada doesn't worth 70,000, but because of his own gain, he lures you to purchase it. When d okada starts to bring out issues, d mechanics keeps feeding on you while you lose.
Transport business can be profitable and at times it can liquidate you.

Buying new Okada will give you rest of mind provided you get a good driver.
Buying 2nd hand cannot give one rest of mind even if you have a good driver.


[/quote]

8 Likes 2 Shares

Re: What Lead To The Collapse Of Your First Business? by NGRsenate: 10:07am On Nov 16, 2019
hefelove:

No bro only those who don't know quality will price rubbish o

I’m not talking about imported shoes o.

But it’s alright sha. I sold some, sadly didn’t sell enough. Inside the small wey i sell sef, dey still return some back.

1 Like

Re: What Lead To The Collapse Of Your First Business? by 1stHooligan(m): 10:08am On Nov 16, 2019
majamajic:
everyone is avoiding the topic


if woman fall someone business , how do I write it ?

which English should I use to describe it ?

ahhhh, Angelina !!!

Re: What Lead To The Collapse Of Your First Business? by xpresseeve: 10:08am On Nov 16, 2019
Jones4190:

let me tell you the trikes behind the okada business:
1. don't buy the bike yourself, allow the person who will be riding the bike to look for available bike for you, all you need to do is to tell him your budget.

2.do not go for new bike to avoid police wahala, ( Take this serious)

3. do not go for super return, slash the weekly return to favour the person riding it, if other are received #1500 per day, make you own #1000. ( The benefit are numerous) at last na you go enjoy pass.
4. the key to any successful Okada business in Lagos lied in the hand of Aboki so I will advice you to go for mallam.

Thanks for your prompt response but it appears you didnt get my drift.
I wish to use the bike for bread deliveries in a neighbourhood that has very terrible roads. I will hire the rider on a salary plus commissions basis. He will deliver yo my customers in that area.

I really do not have the strength for managing an Aboki.

5 Likes

Re: What Lead To The Collapse Of Your First Business? by madone: 10:10am On Nov 16, 2019
Noel1:


N100k may be difficult to start a major business in Nigeria of today.

Why don't u put it in a fixed deposit account? I think some banks would give u up to 4.5% monthly interest on it. That's like N4,500 interest first month.
Then roll it over and u gain more interest based on compound interest.

Alternatively, u can buy Federal Government Treasury bills.
pls can u share more on this single treasury bill and fix d deposit.i do like to know more
Re: What Lead To The Collapse Of Your First Business? by NGRsenate: 10:15am On Nov 16, 2019
madone:
pls can u share more on this single treasury bill and fix d deposit.i do like to know more

All of you looking for fixed deposits and treasury bills should better get the idea out of your minds.

If you’re looking for where to put money, open a domiciliary account and buy dollars.

Who knows, with this border closure, the naira will dip before it goes up.

Infact always keep your money in dollars.

11 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by Welcomme: 10:15am On Nov 16, 2019
EdmundChidera:
I started selling shirts nice shirts that I do get from Onitsha main market then I sell with 700 naira gain sometimes 1k gain I was selling to my fellow students the material was good and I was getting it very cheap and then selling to my taste I went for my first and second demand from my supplier then ponzi scheme came out I wanted to double my money to get more money and invest in my small booming business but these guys cash out on me eventually It was horrible. I had to drop everything and focus on my academics again but now I am done with my degree I will put full time energy to whatever I'm good at.

Avoid any doubling agents
Pls bro, from where were u buying this cloth from? I want to go into this business... How do I contact you?
Re: What Lead To The Collapse Of Your First Business? by namiji2598: 10:18am On Nov 16, 2019
eventsmallchops:
it was a car wash business set up by the road side in front of undeveloped land ,
after spending so much despite paying 80,000 rent per year, the owner of the land across the gutter came to me that she also want to do carwash business with the same land, she came with Hausa thugs with knives, got government to served me demolition notice without compensation, I explained to the government and we were invited but she kept missing appointment because her husband is a labour leader from gombe state serving in Abuja, this was a business I sold a car to raise capital for.
she's now running the carwash I built with my money because her husband is a politician without compensating me, I took police there but they said it was a civil case.
anyway I believe it happened because God have a better plan for me.
lesson learnt!
who is that her husband?
Re: What Lead To The Collapse Of Your First Business? by vecman22(m): 10:21am On Nov 16, 2019
Donbosco46:

To double it is simple just get 2 odd and stake 100k

Lol my friend that took this same advise last week,is still running up and dwn like a mad man looking for where to borrow 150k from because someone actually gave him that money to keep in trust,baba play 2odd and the rest is a story

35 Likes 2 Shares

Re: What Lead To The Collapse Of Your First Business? by Prettyjanet1: 10:24am On Nov 16, 2019
gokecont:

Na all transport business. Person wet gentle no fit do am



After 3 aboki disappoint me, my bike dey house now nobody want buy an self... I can bet you bike business na wahala biz.
Re: What Lead To The Collapse Of Your First Business? by Houstency(m): 10:24am On Nov 16, 2019
Noel1:


N100k may be difficult to start a major business in Nigeria of today.

Why don't u put it in a fixed deposit account? I think some banks would give u up to 4.5% monthly interest on it. That's like N4,500 interest first month.
Then roll it over and u gain more interest based on compound interest.

Alternatively, u can buy Federal Government Treasury bills.

Your submission Sir/ma is fraught with inconsistencies in calculations and understanding of the process. For that amount, you can't get that rate in any Nigerian banks. The 10% rate you used as an example is per annum , to get a month's rate from it, it is prorated which is less than the 10% you quoted. Else tBills , FGN savings bond etc wouldn't have subscribers.

4 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by Lanjonath(m): 10:32am On Nov 16, 2019
Never in this life!! No bank will give you 4.5% monthly

Noel1:


N100k may be difficult to start a major business in Nigeria of today.

Why don't u put it in a fixed deposit account? I think some banks would give u up to 4.5% monthly interest on it. That's like N4,500 interest first month.
Then roll it over and u gain more interest based on compound interest.

Alternatively, u can buy Federal Government Treasury bills.

4 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by tropaz(m): 10:34am On Nov 16, 2019
Catalyst4real:

Importation biz is sweet, if you can market your goods wella.
Buy quality stuffs that people around you need or will love to have.
Start by importing in small qty, like 10 pieces.
Factor in your shipping amount and how much you plan to sell, so you don't import things that's cheaper in the market!
Don't unique stuffs, don't buy things that are ubiquitous.


You can even use pictures of what you want to import to show to few people around you to see if they'll show interest.

I am into sales of imported equipments but I don't import myself. I buy from some Chinese and German friends in Nigeria. Please, I would love to have more information on importation techniques so that I can bring in products myself. Most importantly, the clearing of a thing... Who pays in a CIF payment term?

1 Like

Re: What Lead To The Collapse Of Your First Business? by tropaz(m): 10:35am On Nov 16, 2019
Please hit me up on watsapp...

WalkerMichael:


Bro, this is totally incorrect.

If anyone is going to any business, to minimize their risk, he/she should HAVE & FOLLOW A MENTOR! I do not have ANY OFFLINE SHOP and I sell everything I import from China purely ONLINE (FACEBOOK & INSTAGRAM)....

Thank you!

The screenshots are just few out of several other campaigns I set up to sell products online.. No business is easy.

1 Like

Re: What Lead To The Collapse Of Your First Business? by Nobody: 10:35am On Nov 16, 2019
BeLookingIDIOT:
What about giving out a bus,how much will I be getting daily
7 to 8k in Lagos

3 Likes

Re: What Lead To The Collapse Of Your First Business? by ThisisIkemefuna(m): 10:38am On Nov 16, 2019
Jones4190:

there is oo my brother, infact that is my business, don't even go for the one of 100k, look for the one of 50k, buy two and give aboki to be delivery 6k each every week.

How do I reach you for a personal discussion? WhatsApp 0901715 zero five three three

1 Like 1 Share

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