ednut1:
Over 80% of new businesses in Nigeria don’t survive second year.

Faiththatworks:
There's a bitter truth that must be told to everyone, business is not for everyone.
And we must begin to teach people that buying and selling is not a business,it's called trading.
Everybody in the world is a trader, That's a talent God gave everyone in the world,there's no special skill needed to survive as a trader.
Back to the story,the only time my good friend in the story tried his hand on entrepreneurship was when he tried to actually produce nylon,and that's where I believed he failed as an entrepreneur,he should have started trading whatever he produced,but he failed and he gave up.
Nigerians are quick to quote motivational jargons but the truth is if all you do is add value to another person business you are nothing but a trader.
We are where we are today as a country because all we do is buy and sell and turn around to spin traders as entrepreneurs.
May God open the eyes of the next generation in this country.
God bless Nigeria.

Faiththatworks:
There's a bitter truth that must be told to everyone, business is not for everyone.
And we must begin to teach people that buying and selling is not a business,it's called trading.
Everybody in the world is a trader, That's a talent God gave everyone in the world,there's no special skill needed to survive as a trader.
Back to the story,the only time my good friend in the story tried his hand on entrepreneurship was when he tried to actually produce nylon,and that's where I believed he failed as an entrepreneur,he should have started trading whatever he produced,but he failed and he gave up.
Nigerians are quick to quote motivational jargons but the truth is if all you do is add value to another person business you are nothing but a trader.
We are where we are today as a country because all we do is buy and sell and turn around to spin traders as entrepreneurs.
May God open the eyes of the next generation in this country.
God bless Nigeria.

Onahi95:
** Fifth Experience**

By now I was legit scared of business that I had to abandon it and seek for admission into the university. If at that I didn't stop trying

I was home for a break in school so I looked for something to do to earn money for the main time. A friend of my mom was selling bar soaps then and according to my mom she was swimming in money though she didn't look it o. I met her and she told me how she was making millions by taking the soaps to other States to sell, she advised I went to pH since they had high purchasing power.
I used to hustle street trading in pH so I was familiar with the environs which was an advantage or so I thought. I did my calculations and was in high spirits as I was going to hammer this time.
I borrowed 100k from my dad, bought about cartoons of bar soap and set off to pH on a faithful Wednesday because I targeted oil mill Thursday market . I first dropped at obigbo junction and set my cartons of soap by a corner that the owner was absent and started screaming on top of my voice soliciting for customers...buy your original soap here, only 100 100 naira, e don dey finish oooo, eleme dey look bayelsa dey buy oo, after today no more ooo....I kept shouting....
I got some occasional glances by passerby's as they proceeded to their destinations, one hour turned to two hours yet no one has asked me whether na sample I sample abi na sell I dey sell. I got exhausted from my fruitless shouting and sat down, I realized it was getting dark so I called the number of the person I would pass the night in her place at mile 1....ghen ghen number no dey no reachable .... I shaa packaged my cartoons of soap and set off to mile 1, after all I came for oil mill so I'm sure I would sell all the next day.
Getting to mile 1 around past 8, every where was dark and deserted. I was scared so I had to proceed to mile 3 that was livelier. I packed my goods in one park and started looking for a place to pass the night, I went to a police station but they were questioning me like a criminal even after narrating my ordeal to them. I left and went the a church and the security turned me back that they only allow people to sleep in the church during vigils. I ended up sleeping in an uncompleted building in the state university.
The following morning I set off to oil mill market, I remember when I dropped a barrow pusher came to carry the goods to a place I would keep them but since I was running low on cash I asked him to help me place it on my head....haa oga this thing heavy o e go break your neck o, just give me 3h make I carry am for you.....he exclaimed, don't worry I'm fine I replied.
Five minutes later I was sweating like a Christmas goat with my neck now at 180 degrees, it was remaining just two poles to my destination when I gave up and dropped the bag. I called another barrow pusher and he quoted 250 naira.....chai see penny wise pound foolish, I barely had any strength left to haggle price so I agreed.
I found a corner outside the market and set my cartons of soap, I took one carton and went inside the market screaming on top of my voice as usual, three hours later and I had just sold only 5 bars of soap to make matters worst it started raining and my cartons of soap was in the open.
I ran like a mentally deranged man to where I kept my wares trying to save it from the rain, while I tried to carry the cartons to a shed some gave way throwing some of the soaps on the road with tricycles running over them. A barrow pusher came to my rescue and helped me save the rest.
After the rain subsided I went back into the market and started selling the soap at a 50% loss yet I was unable to finish one carton, while I was struggling to sell my kaya those agberos came with their wahalla and collected #300 from me, I went to a different section of the market to try my luck and 4 different agberos surrounded me with different tickets each not less than #200 . Oga abeg I never sell anything I tried to explain to them, come on give me my money joor one of them roared.
By now I was close to tears as they made away with my goods, heiya its unfair o, you people should pity this poor boy naa, see he's even crying, some market women pleaded on my behalf. They finally collected #500 from me.
I managed to sell two cartons just enough to get my transport back home and set off to the park. I was looking very dirty and unkept, at the park I bumped into a girl I was wooing when I was in ph, she kept staring at me probably trying to deduce if I was actually the person she was seeing. I kept a straight face and went to sit at the back of the bus away from other passengers glare.
At home I took the remaining goods to the woman I bought it from and sold it to her at over 60% loss and gave my dad the balance, though he complained but I carest not.

Even though I'm beginning to feel that business is not for me. I still want to try more.
I'm still broke and I've got more ideas though no capital but something keeps telling me I will get a breakthrough I business one day. I will still come back to testify here.

Feel free to share your own experiences doing business both the positive and negative ones.
Mods please push to front page so we can get wider views and contributions.

olamoses75:
and he never failed? And who told you he was the reason why I go into business? I just used him as reference. And what about the other ones I mentioned, because na only Musk you talked about here, as if we didn’t know his history. Una go just dey run mouth.

Curious345:
spiritualist?

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

Onahi95:
.**Third Experience **

After some months I traveled to PH to look for greener pastures. I worked in a restaurant for some months on a 8k salary. After saving aggressively I resigned and went into road side trading. I would go to Aba and buy third grade okirika cloths for as low as #100 and sale for #300 by the road side. I would visit Onitsha too since I knew the in and out of main market I already knew where to get stuffs very cheap.

I was making at least 5k profit everyday at rumuola in PH. Many of my fellow trader approached me so as to know my trade secret which I politely declined since they were competitors. They conspired against me and with the help of one notorious cultist called mami water I was sent out of Rumuola. I had plans of approaching their leader Amina who was actually a very good person but he was gruesomely murdered under the bridge by supposed rivals.

I relocated to Rumuokoro but business was very slow, I checked other locations like Choba , Rumuokwuta, Eliozu etc but they all couldn't match Rumuola. The business gradually fizzled out and I was broke again.

Onahi95:

I'm done now, no job yet though

I packed my goods in one park and started looking for a place to pass the night, I went to a police station but they were questioning me like a criminal even after narrating my ordeal to them. I left and went the a church and the security turned me back that they only allow people to sleep in the church during vigils. I ended up sleeping in an uncompleted building in the state university.

Onahi95:
Most Nigerians are of the opinion that Business is the answer to the ever raising number of unemployed youths. What most doesnt know is that business too has its own challenges and not for the faint hearted. I would be sharing some of my experiences trying to do business.

**First Experience**
Growing up I've always been a lover of business, I remember after my secondary education I was given two options of university education or business. I choose business without batting an eyelid. I think it was during the early days of Goodluck's tenure when ports were closed so most importations where from Cotonou Port and the goods smuggled into Nigeria.

I gathered small capital with the help of relatives and would go to Cotonou to get male jeans and resale in wholesale to my customers in Nigeria, I went on a trip at least once a week which gives me an average of 30k to 40k profit per week because my capital wasn't much. I started with 200k and within a little over a year I was counting in millions before my legendary village people gave me a call.

My logistics agent put my goods in a vehicle transporting second hand tyres, which was intercepted at Benin and everything got impounded. After spending so much for the release of the goods it was released several months later only for us to meet goods not up to 10% of what was originally seized. It was devastating and I came crashing down to square one. All attempts to gather another capital proved abortive.

Onahi95:
** Fifth Experience**

By now I was legit scared of business that I had to abandon it and seek for admission into the university. If at that I didn't stop trying

cherryCola:
Most people mis-interpret the meaning of business or should I say entrepreneur .

Some think they are doing business but what they don't know is that they are still self Employed.

PlanBizNg:
I

My advice to you is Never Give Up!! Don't let your failure discourage you from following your dreams.

Robert F. Kennedy ones said; “Only those who dare to fail greatly can ever achieve greatly.”
And Gena Showalter ones said; “Giving up is the only sure way to fail.”

Finally, failure should be your teacher, not your undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end.


I wish you all the best in your future endeavors.

PS: When you've decided to go back to business, I will advice to do something you've tried and have some experience on. For example, the Nylon production business you tried. It's a good business, and something you can start on a small scale with little funds. This I'm sure you know by now.

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Lamanii22:




Awwwwww

Faiththatworks:
There's a bitter truth that must be told to everyone, business is not for everyone.
And we must begin to teach people that buying and selling is not a business,it's called trading.
Everybody in the world is a trader, That's a talent God gave everyone in the world,there's no special skill needed to survive as a trader.
Back to the story,the only time my good friend in the story tried his hand on entrepreneurship was when he tried to actually produce nylon,and that's where I believed he failed as an entrepreneur,he should have started trading whatever he produced,but he failed and he gave up.
Nigerians are quick to quote motivational jargons but the truth is if all you do is add value to another person business you are nothing but a trader.
We are where we are today as a country because all we do is buy and sell and turn around to spin traders as entrepreneurs.
May God open the eyes of the next generation in this country.
God bless Nigeria.

SeaTrade:
Very difficult to start from scratch and survive in Nigeria,but not impossible.
Go to other smaller African countries and start,build capital well and then come back to naija if you like .
Na format weh boys dey use be that,because if you think you can just come to naija cities and start hustling in the streets and make it,it might never happen.
Or go to interior villages and remote places in naija and establish and be the local champion, most times those places profits are very high since they are far from cities,so you sell with high margins.

slimthugchimee2:


Bro your main issue is no market research
No business plan
Lack of experience

You just run to were someone tells you, and that is why your business keeps failing

onegig:
@op.


Every business needs Risk Management. That was one recurring theme in all your pursuits. You never did your home work.

There are lots of things you should consider when setting up a biz but the most important thing is safety of your goods. You seem to be the carefree type and felt doing things the hard way or "hustling" or "rudged" your way through things would bring you success .

1. You were going to deliver nylons and didn't even do a safety check of the area you were going? Yeah, no one expect Sars to pick you up, but i wouldn't be caught walking about around Mile 2 under bridge or Anthony under bridge at 9pm.

2. You were going to sell soap but never considered where to keep the soap in the eventuality of rain or change in weather. Were you expecting to carry the soap around till you finished selling? What if you needed a week to complete selling? Did you factor in the probability of that? Did you test the market with a few pieces and sampled opinions before going all the way down?


One pattern i can detect from your story is you just follow people's lead about doing businesses without carrying out due diligence about what the efforts and expected returns are.

I hope you try and do more soul searching. Businesses are tough to run but they are much more tougher and you would burn your hands if the basic motivating factor is to "find" something to do and make money. What value are you adding? What makes yours different? Also how alive are you to the factors affecting your business surroundings?

Onahi95:
** Fifth Experience**

By now I was legit scared of business that I had to abandon it and seek for admission into the university. If at that I didn't stop trying

I was home for a break in school so I looked for something to do to earn money for the main time. A friend of my mom was selling bar soaps then and according to my mom she was swimming in money though she didn't look it o. I met her and she told me how she was making millions by taking the soaps to other States to sell, she advised I went to pH since they had high purchasing power.
I used to hustle street trading in pH so I was familiar with the environs which was an advantage or so I thought. I did my calculations and was in high spirits as I was going to hammer this time.
I borrowed 100k from my dad, bought about cartoons of bar soap and set off to pH on a faithful Wednesday because I targeted oil mill Thursday market . I first dropped at obigbo junction and set my cartons of soap by a corner that the owner was absent and started screaming on top of my voice soliciting for customers...buy your original soap here, only 100 100 naira, e don dey finish oooo, eleme dey look bayelsa dey buy oo, after today no more ooo....I kept shouting....
I got some occasional glances by passerby's as they proceeded to their destinations, one hour turned to two hours yet no one has asked me whether na sample I sample abi na sell I dey sell. I got exhausted from my fruitless shouting and sat down, I realized it was getting dark so I called the number of the person I would pass the night in her place at mile 1....ghen ghen number no dey no reachable .... I shaa packaged my cartoons of soap and set off to mile 1, after all I came for oil mill so I'm sure I would sell all the next day.
Getting to mile 1 around past 8, every where was dark and deserted. I was scared so I had to proceed to mile 3 that was livelier. I packed my goods in one park and started looking for a place to pass the night, I went to a police station but they were questioning me like a criminal even after narrating my ordeal to them. I left and went the a church and the security turned me back that they only allow people to sleep in the church during vigils. I ended up sleeping in an uncompleted building in the state university.
The following morning I set off to oil mill market, I remember when I dropped a barrow pusher came to carry the goods to a place I would keep them but since I was running low on cash I asked him to help me place it on my head....haa oga this thing heavy o e go break your neck o, just give me 3h make I carry am for you.....he exclaimed, don't worry I'm fine I replied.
Five minutes later I was sweating like a Christmas goat with my neck now at 180 degrees, it was remaining just two poles to my destination when I gave up and dropped the bag. I called another barrow pusher and he quoted 250 naira.....chai see penny wise pound foolish, I barely had any strength left to haggle price so I agreed.
I found a corner outside the market and set my cartons of soap, I took one carton and went inside the market screaming on top of my voice as usual, three hours later and I had just sold only 5 bars of soap to make matters worst it started raining and my cartons of soap was in the open.
I ran like a mentally deranged man to where I kept my wares trying to save it from the rain, while I tried to carry the cartons to a shed some gave way throwing some of the soaps on the road with tricycles running over them. A barrow pusher came to my rescue and helped me save the rest.
After the rain subsided I went back into the market and started selling the soap at a 50% loss yet I was unable to finish one carton, while I was struggling to sell my kaya those agberos came with their wahalla and collected #300 from me, I went to a different section of the market to try my luck and 4 different agberos surrounded me with different tickets each not less than #200 . Oga abeg I never sell anything I tried to explain to them, come on give me my money joor one of them roared.
By now I was close to tears as they made away with my goods, heiya its unfair o, you people should pity this poor boy naa, see he's even crying, some market women pleaded on my behalf. They finally collected #500 from me.
I managed to sell two cartons just enough to get my transport back home and set off to the park. I was looking very dirty and unkept, at the park I bumped into a girl I was wooing when I was in ph, she kept staring at me probably trying to deduce if I was actually the person she was seeing. I kept a straight face and went to sit at the back of the bus away from other passengers glare.
At home I took the remaining goods to the woman I bought it from and sold it to her at over 60% loss and gave my dad the balance, though he complained but I carest not.

Even though I'm beginning to feel that business is not for me. I still want to try more.
I'm still broke and I've got more ideas though no capital but something keeps telling me I will get a breakthrough I business one day. I will still come back to testify here.

Feel free to share your own experiences doing business both the positive and negative ones.
Mods please push to front page so we can get wider views and contributions.

Onahi95:
** Fifth Experience**

By now I was legit scared of business that I had to abandon it and seek for admission into the university. If at that I didn't stop trying

I was home for a break in school so I looked for something to do to earn money for the main time. A friend of my mom was selling bar soaps then and according to my mom she was swimming in money though she didn't look it o. I met her and she told me how she was making millions by taking the soaps to other States to sell, she advised I went to pH since they had high purchasing power.
I used to hustle street trading in pH so I was familiar with the environs which was an advantage or so I thought. I did my calculations and was in high spirits as I was going to hammer this time.
I borrowed 100k from my dad, bought about cartoons of bar soap and set off to pH on a faithful Wednesday because I targeted oil mill Thursday market . I first dropped at obigbo junction and set my cartons of soap by a corner that the owner was absent and started screaming on top of my voice soliciting for customers...buy your original soap here, only 100 100 naira, e don dey finish oooo, eleme dey look bayelsa dey buy oo, after today no more ooo....I kept shouting....
I got some occasional glances by passerby's as they proceeded to their destinations, one hour turned to two hours yet no one has asked me whether na sample I sample abi na sell I dey sell. I got exhausted from my fruitless shouting and sat down, I realized it was getting dark so I called the number of the person I would pass the night in her place at mile 1....ghen ghen number no dey no reachable .... I shaa packaged my cartoons of soap and set off to mile 1, after all I came for oil mill so I'm sure I would sell all the next day.
Getting to mile 1 around past 8, every where was dark and deserted. I was scared so I had to proceed to mile 3 that was livelier. I packed my goods in one park and started looking for a place to pass the night, I went to a police station but they were questioning me like a criminal even after narrating my ordeal to them. I left and went the a church and the security turned me back that they only allow people to sleep in the church during vigils. I ended up sleeping in an uncompleted building in the state university.
The following morning I set off to oil mill market, I remember when I dropped a barrow pusher came to carry the goods to a place I would keep them but since I was running low on cash I asked him to help me place it on my head....haa oga this thing heavy o e go break your neck o, just give me 3h make I carry am for you.....he exclaimed, don't worry I'm fine I replied.
Five minutes later I was sweating like a Christmas goat with my neck now at 180 degrees, it was remaining just two poles to my destination when I gave up and dropped the bag. I called another barrow pusher and he quoted 250 naira.....chai see penny wise pound foolish, I barely had any strength left to haggle price so I agreed.
I found a corner outside the market and set my cartons of soap, I took one carton and went inside the market screaming on top of my voice as usual, three hours later and I had just sold only 5 bars of soap to make matters worst it started raining and my cartons of soap was in the open.
I ran like a mentally deranged man to where I kept my wares trying to save it from the rain, while I tried to carry the cartons to a shed some gave way throwing some of the soaps on the road with tricycles running over them. A barrow pusher came to my rescue and helped me save the rest.
After the rain subsided I went back into the market and started selling the soap at a 50% loss yet I was unable to finish one carton, while I was struggling to sell my kaya those agberos came with their wahalla and collected #300 from me, I went to a different section of the market to try my luck and 4 different agberos surrounded me with different tickets each not less than #200 . Oga abeg I never sell anything I tried to explain to them, come on give me my money joor one of them roared.
By now I was close to tears as they made away with my goods, heiya its unfair o, you people should pity this poor boy naa, see he's even crying, some market women pleaded on my behalf. They finally collected #500 from me.
I managed to sell two cartons just enough to get my transport back home and set off to the park. I was looking very dirty and unkept, at the park I bumped into a girl I was wooing when I was in ph, she kept staring at me probably trying to deduce if I was actually the person she was seeing. I kept a straight face and went to sit at the back of the bus away from other passengers glare.
At home I took the remaining goods to the woman I bought it from and sold it to her at over 60% loss and gave my dad the balance, though he complained but I carest not.

Even though I'm beginning to feel that business is not for me. I still want to try more.
I'm still broke and I've got more ideas though no capital but something keeps telling me I will get a breakthrough I business one day. I will still come back to testify here.

Feel free to share your own experiences doing business both the positive and negative ones.
Mods please push to front page so we can get wider views and contributions.

silkytouch:
You story is so damn sad.

If you put half the effort you put in these petty businesses in online ventures, you'd be more than halfway to your goal right now.

You are already a very good writer, you know how to keep your readers hooked which is the only skill you need to succeed online.

If you are willing to learn, I am willing to teach you how to make money(crypto) writing and playing games (crypto based game).

All you need is a laptop and/or a phone and your will to succeed.

ozonechrome:


I agree with this poster. I'm happy to introduce you to wholesale nylon buyer at mile 3 market.

It's well!.

OChimex:


You are a true hustler, but your only mistake is, you are always in a haste to jump into businesses.

Trading is a craft and must be learnt in a proper way.

Most successful business men, especially from the East learnt the craft of trading by going to serve one big oga for years as (nwa boy).

During those years pf serving your oga, you learn the craft, then gather contacts.

Once he settles you, na so so climb climb u go dey climb for business everyday.

That's the secret of most successful IGBO Traders....

DemMannaScam:

Kindly share your trade secret

MeghaneMorgane:


Op, I’m finally happy you decided to go to school. I hope you are studying something in the line of business because it is obvious you have a passion for business.
You have this hustling spirit and I believe you will tell your story to encourage others another day.