obongproff:

I have a business idea that I previously intended to execute with 30 million naira. Some elderly friends of mine complained that that amount was just too big to start with. Somehow, I stumbled on another idea to make it a global business venture and to achieve that I need at least 65 million dollars. Now they think am crazy.

Everybody thinks am crazy. But looking at the history of all great men that achieved something great in this life, Thomas Edison, Issac Newton, The Wright Brothers, e.t.c., people taught they were crazy when they heard their idea. I know this idea of my mine is crazy but it would definitely produce a sure-fire success.

So am asking the house, is it really wrong to start small? Does that mean that if you start big, there is a 100% chance that that project would be a failure?

Having a great idea is desirable and good, turning the Idea to a big success is a different ball game, It is however advisable for you to start small,

This is the where you learn the basics in practical terms after doing your home work;mistakes are made and correction is easily done at this stage. Pple have been in the business before you are born; you will have to compete with the best and other difficult terrain that comes with executing your idea.

Here, U learn the psychology of being a business owner and handling investments;which failure is an essential ingredient. U will still be able to pick yourself up and get down to the basics and track what went wrong. All these ups and downs are processes that toughen you up as a business owner. These are equally life experience that sharpens your skills.

Lets assume that you are able to start your $65million dollar project, and the biz collapsed after six months of Operation , how do you pick yourself up back if you have not even lose a a million before?

A simple example is Dangote that started his business with N500,000 loan from his uncle, Dantata after learning under his uncle, Dantata could have given him the money but he treated this as a loan to be repaid for 3 yrs. Dangote returned it after 3 months of operation.

Steps upon steps and line upon line , once you skip any steps, you will come back and start from the beginning. Its damn sure.

Starting Big F , Ked me up so bad, thank God I have a good job and line of credit that I dipped into to survive for almost 2 and half yrs, (it was hell) , especially that Nigeria that people will give you information about how triple profit you will make,

I did that crazy Haulage business, bought 4 trucks (shipped them), I almost went crazy with the drivers stroke the manager i hired for money stuff, also shipped 2 containers filled with with brand new designer clothes, jeans, kids apparel, electronics, and 2 SUVs, nah(didnt cut it), dont get me wrong I made some money back( not everything, and minus my shipping ) but not the wao factor I expected just like you do now from these movies, abeg look very very well before you leap o, to handle a crazy man you must have a teaser and a gun in your back pocket, (for REAL!)

ObongProff, I am truly touched by all the responses herein so far. In my opinion, it is what you dream and think you are, that you will become. If you believe your movie will be a block-buster and a money spinner, please do your analyses well if possible discuss this with one or two international movie makers who have been there and seen it all and then GO FOR IT! What is killing us in Nigeria is the fact that we think “little” and end up being “little”. Do not limit your potentials by being afraid to failing the first time. Life is all about risks; if you present a good chartbuster to foreign investors who weigh the pros and cons of it all and provided you are probably ready to split profit/ownership, you never know…, you may just strike gold.

Check out this story about TINSEL http://allafrica.com/stories/201005310030.html, a movie that has so far featured notable Nigerian actors/actresses and other world stars not known to us in the entertainment industry here in Nigeria.

You may send me an e-mail at kendafod@yahoo.com and let us see if we could work together in the area of funding for this epic movie.

Friend my candid advice for you is that you should not put all your eggs in one basket because if it gets broken, you may never forgive yourself for life. Save the bulk of the money and use some to start the business, with time you will be comfortably import some cash into the business. Remember that making money is not easy while loosing it is as simple as ABC, be WARNED friend!

There is nothing wrong with starting big, but the problems you'll encounter in your first year no matter how goodthe idea will answer the question for you.

Kendafod:

ObongProff, I am truly touched by all the responses herein so far. In my opinion, it is what you dream and think you are, that you will become. If you believe your movie will be a block-buster and a money spinner, please do your analyses well if possible discuss this with one or two international movie makers who have been there and seen it all and then GO FOR IT! [b]What is killing us in Nigeria is the fact that we think “little” and end up being “little”. Do not limit your potentials by being afraid to failing the first time. [/b]Life is all about risks; if you present a good chartbuster to foreign investors who weigh the pros and cons of it all and provided you are probably ready to split profit/ownership, you never know…, you may just strike gold.

Check out this story about TINSEL http://allafrica.com/stories/201005310030.html, a movie that has so far featured notable Nigerian actors/actresses and other world stars not known to us in the entertainment industry here in Nigeria.

You may send me an e-mail at kendafod@yahoo.com and let us see if we could work together in the area of funding for this epic movie. 

Is there any of those motivational writers whom you have obviously been reading that discounts the value of experience or knowledge of the industry in which you want to invest?

It is not wrong to think big but starting big, especially in a relatively unknown terrain, is the issue here. He has received enough advice from contributors and it's up to him to do whatever he deems fit with his money.

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