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What Lead To The Collapse Of Your First Business? - Business (11) - Nairaland

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Re: What Lead To The Collapse Of Your First Business? by ArticleBeast: 5:00pm On Nov 16, 2019
Sirseedorf:
What about accessories business, is it profitable and less problem?

I want to start a mini accessories business, though I have about 100000k but I don't really know much about it.

I'm looking for where to get the goods but a friend of my ask me to go to Alaba international market that I will see an accessories distributor there. how safe is Alaba international for thus kind of business.

I'm afraid to lose the business in a short time or no profit acquired...
Go to computer village you will see importer of such goods

1 Like

Re: What Lead To The Collapse Of Your First Business? by abdeiz(m): 5:20pm On Nov 16, 2019
Yesso.. Unfortunately that was my experience

Angelacruz:
This is serious
Re: What Lead To The Collapse Of Your First Business? by Angelacruz: 5:25pm On Nov 16, 2019
Sorry about dat sir
abdeiz:
Yesso.. Unfortunately that was my experience

1 Like

Re: What Lead To The Collapse Of Your First Business? by Ikennablue(m): 5:29pm On Nov 16, 2019
ThisisIkemefuna:



I have 100k for it. Wow just need something to do to double the money. Not sure what's viable anylonger in Nigeria
try POS business. Trust me, if u are in a good area. It's a nice venture. And getting a POS machine now is easier than ever

2 Likes 1 Share

Re: What Lead To The Collapse Of Your First Business? by ThisisIkemefuna(m): 5:41pm On Nov 16, 2019
UndauntedYOCA:

Sure! Let's talk through email so we can exchange contacts. I'll show you pictures. I also have yams at very, very reasonable price o. Are you in Lagos?

0901715 zero five three three
Re: What Lead To The Collapse Of Your First Business? by bigfrancis21: 5:51pm On Nov 16, 2019
Nnemuka:
So a friend of mine in spain sends spanish wine down to Nigeria and he told me he wanted to expand his business to south south Nigeria and luckily for me he said he would supply me those wines in cartons so i can market the goods for him.

Last year, he sent me some cartons and i sold out in couple of months.
Business was lucrative for me and i decided to venture into it.

Discussed with my friend and he asked me to get a shop, so i can have a warehouse atleast that he will send to me, once i sell off, i will pay him and he will bring more just like we did last year.
Elated me rushed in, rented a shop, and gladly informed him. Shockingly he told me to pay money for any amount of cartons i wanted shocked shocked shocked
I informed him that it wasn't our agreement but he insisted.

I have paid shop rent, fixed the entire place and now he is coming up with another story.
To cut the long story short, i went into retail of the wine, Converted the place to a wine store but i hardly sell anything. embarassed embarassed
Well i have decided to convert it into a bar and sell drinks, beer, juice infact a sit out spot.
I have made losses but hopefully this new addition will sell for me.

Life is in stages sha

I’m sorry but this got me laughing so hard. That’s just how you indirectly became, nwanyi beer parlor. Lol

11 Likes

Re: What Lead To The Collapse Of Your First Business? by Ikennablue(m): 5:51pm On Nov 16, 2019
Softhands:
I am organizing a free mini importation class for people like you who want to start on a small scale this afternoon by 12pm to 3pm. The class is free so you have nothing to worry about. Use this link to join the group.

Check my signature to join the WhatsApp group.

is too late?

1 Like

Re: What Lead To The Collapse Of Your First Business? by MoIbrahim: 5:52pm On Nov 16, 2019
I learnt the hard way

delishpot:


Don't EVER employ anyone that is begging to be given a job. Those ones that will say give me any type of job let me be using to manage myself. Those ones are just looking for road to blow at your expense. unless it's someone you can hold accountable. Those types are the ones that will Chew you to the bones. They are first to be angry that you have much while they are struggling.

1 Like

Re: What Lead To The Collapse Of Your First Business? by eniorisha(m): 5:56pm On Nov 16, 2019
Ikennablue:
try POS business. Trust me, if u are in a good area. It's a nice venture. And getting a POS machine now is easier than ever

I'm interested in this pos business, pls. How do I go about it? How easy it's to get it from d bank? The capital I intend to use in d buz is with d FBN.

It's been long I av been having interest in this buz. But I observe few things dt may work against it @ my side here.

1) It's an ancient town with very low economic activities
2) The two banks here are easily assessable from any point in d town
3) Most residents of the town are aliens to such arrangements. Many of them may think one will steal their money
4) I intend to run it in someone else's shop. Like just sitting outside & attend to my potential customers, and so on

So, I need your mentorship if u are in d business personally. Here's my number: 08182896938(WhatsApp)

2 Likes

Re: What Lead To The Collapse Of Your First Business? by Ikennablue(m): 5:58pm On Nov 16, 2019
eniorisha:


I'm interested in this pos business, pls. How do I go about it? How easy it's to get it from d bank? The capital I intend to use in d buz is with d FBN.

It's been long I av been having interest in this buz. But I observe few things dt may work against it @ my side here.

1) It's an ancient town with very low economic activities
2) The two banks here are easily assessable from any point in d town
3) Most residents of the town are aliens to such arrangements. Many of them may think one will steal their money
4) I intend to run it in someone else's shop. Like just sitting outside & attend to my potential customers, and so on

So, I need your mentorship if u are in d business personally. Here's my number: 08182896938(WhatsApp)
okay. I'll WhatsApp you later
Re: What Lead To The Collapse Of Your First Business? by Nnemuka(f): 6:03pm On Nov 16, 2019
bigfrancis21:


I’m sorry but this got me laughing so hard. That’s just how you indirectly became, nwanyi beer parlor. Lol
Whatever grin grin
I am a travel consultant, this is a side hustle sha and will be managed by another.

5 Likes

Re: What Lead To The Collapse Of Your First Business? by Nobody: 6:10pm On Nov 16, 2019
NGRsenate:


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.
How can someone open a domiciliary account?
Re: What Lead To The Collapse Of Your First Business? by Ikennablue(m): 6:12pm On Nov 16, 2019
somehow:
It is hightime Nigerian business men and women moved into hiring freelancers for their businesses

if you are not a standard firm or stable yet with steady customers and clients, you have no business employing full time workers

Start outsourcing jobs and tasks to freelancers or at most part time staff. It will surely help you cut down overhead cost and in the process bring experts your way

Whether your staff make mistakes or not or slow to deliver, you're expected to pay him or her every month.

Whether there is sales or not, you must pay him or her monthly

You will in some cases train him or her too for free and they may likely leave you just after training

Employing freelancers save you from all these and you also have option to reject what is below standard from them without a cost

Chat me up for more information or how to hire competent freelancers for your business needs
This is true. But there are businesses that require the presence of staffs everytime
Re: What Lead To The Collapse Of Your First Business? by princesspinky(f): 6:19pm On Nov 16, 2019
Debt, and I've not risen from it since then, I've been at home, but if i manage to rise up again not even my late father will own me.

10 Likes

Re: What Lead To The Collapse Of Your First Business? by MoIbrahim: 6:24pm On Nov 16, 2019
godfrey01:


How do you mean they left on their own with giving a dammn.. They didn't inform you, and moreover why will you employ someone out of potty??..

They left at their own time when the business was having challenges, without waiting for us to get their replacement and they left gaps without giving a damn.

Employing someone out of pity was the mistake, and lesson was learnt, the hard way.

1 Like 1 Share

Re: What Lead To The Collapse Of Your First Business? by KayCee92(m): 6:27pm On Nov 16, 2019
meobizy:
Me? Nothing. I haven’t established it yet. I’m still in the planning and finance stages. Now if we count Yahoo Yahoo, I dabbled and stopped when I realized the time and effort needed was enough to build a proper business. I also realized the maga you catch may turn out a fellow Yahoo boy trying to rope you into a con.

grin grin this got me rolling on the floor. Chai

3 Likes

Re: What Lead To The Collapse Of Your First Business? by Winneygirl(f): 6:35pm On Nov 16, 2019
PHIPEX:
Liquidated a thriving business to fund my wedding because I had a standby salary. Very painful decision .

It has taken me 2 years to restart

This weakens me...

6 Likes

Re: What Lead To The Collapse Of Your First Business? by somehow: 6:36pm On Nov 16, 2019
Ikennablue:
This is true. But there are businesses that require the presence of staffs everytime
They can only few hands to handle such and hire freelancers for the rest
Re: What Lead To The Collapse Of Your First Business? by Thane(m): 6:49pm On Nov 16, 2019
AwkaetitiBabe:
I import intimacy gadgets from China and sell here. Gerrit?

yes and I'm interested, pls how can i reach you. I'm a corper and can only raise small capital to start. my number is 07032909591. Thanks
Re: What Lead To The Collapse Of Your First Business? by Nobody: 6:52pm On Nov 16, 2019
Thane:


yes and I'm interested, pls how can i reach you. I'm a corper and can only raise small capital to start. my number is1. Thanks
Simply go register on Aliexpress.com and search for intimacy gadgets, pay and wait for your products. I advertise on jiji.com and Facebook.
Re: What Lead To The Collapse Of Your First Business? by Phil124: 7:13pm On Nov 16, 2019
whitering:


is like you want to buy stolen Bike. Be ready for the Kasala
True oo..thanks sha

1 Like

Re: What Lead To The Collapse Of Your First Business? by omobaba1759: 7:26pm On Nov 16, 2019
YES I REMEMBER WHEN I WAS STILL ABUJA . THE NAME OF THE SHOW IS BREKETE Human Rights Radio 101.1

InvisibleB:


I hear that there is a station called human right radio in Abuja and they help get justice for oppressed people in Abuja. Have you heard about it? If not find out and give it a try

2 Likes

Re: What Lead To The Collapse Of Your First Business? by Nobody: 7:31pm On Nov 16, 2019
delishpot:


You that was advising someone to toy with a woman's heart because of financial gains is worried about being used or cheated in his business? World people sha. Anyways, thieves hate to be thieved from. grin
I didn’t say he should toy with the lady heart, Read what I put down before you get my name soiled in the mud
Re: What Lead To The Collapse Of Your First Business? by Sirseedorf(m): 7:56pm On Nov 16, 2019
Alright thanks



@ArticleBeast
Re: What Lead To The Collapse Of Your First Business? by godfrey01(m): 8:07pm On Nov 16, 2019
MoIbrahim:


They left at their own time when the business was having challenges, without waiting for us to get their replacement and they left gaps without giving a damn.

Employing someone out of pity was the mistake, and lesson was learnt, the hard way.

That's life bro.. People move on....

2 Likes

Re: What Lead To The Collapse Of Your First Business? by Thane(m): 8:13pm On Nov 16, 2019
AwkaetitiBabe:
Simply go register on Aliexpress.com and search for intimacy gadgets, pay and wait for your products. I advertise on jiji.com and Facebook.

pls kindly help me through it as you are into it already
Re: What Lead To The Collapse Of Your First Business? by namiji2598: 8:27pm On Nov 16, 2019
ultron12345:
It was Fraudulent staff.
I learnt my lesson never to trust Nigerian staff again, especially with anything having to do with money.
Since then, I only put Nigerian staff in non-sensitive roles. All roles where there is access to company money are given to Indians.

Indians have been incharge for almost a year now and not a single kobo had gone missing. Unlike when Nigerians were incharge, there was no week we didn't experience deficits and shortages and even inflated invoices.
where is ur business located?
Re: What Lead To The Collapse Of Your First Business? by Nobody: 8:47pm On Nov 16, 2019
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.
How much do you pay per click on Facebook? What are your target demographics? I heard that Facebook traffic doesn't convert.

1 Like

Re: What Lead To The Collapse Of Your First Business? by namiji2598: 9:02pm On Nov 16, 2019
cheesy
vecman22:


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
things dey happen for this country

1 Like

Re: What Lead To The Collapse Of Your First Business? by Nobody: 10:04pm On Nov 16, 2019
zeelux97:

Lollz
The 100k is just enough.
If you know where to look , you'll get a fairly used bike that will serve you well for 80k.

Bro’s where abeg
Re: What Lead To The Collapse Of Your First Business? by prizlezzlalasky(f): 10:13pm On Nov 16, 2019
I'm here to learn as I want to invest my saved NYSC allowee while waiting for my dream is job.

3 Likes

Re: What Lead To The Collapse Of Your First Business? by Lanjonath(m): 10:15pm On Nov 16, 2019
Noel1:

I inquired with a GTB customer support. She said the more money u fix and the longer the fix period, the higher d interest u get.

As I was made to understand, the least u can fix with them is N100,000 for a duration of 30 days, and a 3% interest. U can always roll it over at the end of 30 days period, and get d new month interest based on ( previous month interest + d principal )

If u fix something like N200,000 or more, for a longer period, u can negotiate a higher interest.
Let me explain some to you, those interest rates are for the entire period, there's no way you get 3% monthly. One of the highest yielding places to fix money via the bank is in Money Market and that one offers 1% each month. I'm speaking from experience, fixed some money for like 8 months and it as way more than hundreds of thousands. No bank will give 3% monthly. And fixed deposit is for 90 days or so

3 Likes

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