hey seabiotics
thanks for such wonderful tips. i definitely feel rejuvenated. pls check out jpgmag.com/people/keyamo. that is my inspiration

Hello,

Much has been said and is being said about Business Ideas and how to start one. Well, an issue which is necessary/i feel is necessary could also be handed along. Could/Should every business idea be based on the fact that it must be your interest or passion at first before embarking on such?

Well i feel not all completely should have this as a factor before starting one. What if someone who is lazy or better words ignorant about an idea wants to start a business just to make extra money for him/herself? Here he/she has nothing to first love and be passionate about. Now he stumbles across this write-up of someone who gives this business idea just because its a money making venture. Do you think there should be much time to first love? Why not make a first go into it, then gradually develop that love/passion for it.

Most times people do not do one or two business because they think they have out grown that stage or level and end up doing nothing and remaining at a point.

I believe much preference should/could be given to meager jobs or business before jumping into larger ones that will confuse and consume you. Then you would have excuses for blaming it on no or little finance.

Thus is my submission

@ colours
The biz should start with your passion and strengths. Online might be to showcase your skills to get jobs but it a very good marketing tools to increase awareness and interact with your client and prospect.

Get the require basic of use of cameras, photography, boost your skills before you start.Try to start gradually and be ready to network alot.

@seabiotics
thx those links are inspiring

- talking about digital photography is their any one who actually sells online pictures here in Nigeria?

Well i feel not all completely should have this as a factor before starting one. What if someone who is lazy or better words ignorant about an idea wants to start a business just to make extra money for him/herself? Here he/she has nothing to first love and be passionate about. Now he stumbles across this write-up of someone who gives this business idea just because its a money making venture. Do you think there should be much time to first love? Why not make a first go into it, then gradually develop that love/passion for it.

Dude, i agree with you on the fact that not every business starts from loving it/being passionate about it. Sometimes its just about seeing the potential of a business to generate cash and you do it. Loving it/being passionate about it motivates you to persist even when its not working, making money or getting you where u want. The point is to succeed in starting a business, you must be a persistent person. So whatever will motivate your persistence besides the business performing, be it your loving it/being passionate about it/praying and receiving revelation that the business will grow someday make sure you have that factor settled. I see people start business but give up all of a sudden. Why? they lost faith in the business and in themselves. But if they had a motivating factor, they'd probably continue. There's the "i have to feed my family" motivation but that only drives to despair. "I love what i do" is always a better motivation.

That said, i still believe business is all about risk and returns. You will start some business because you think it will make good returns and when it doesn't you quickly cash out and invest it elsewhere. The major thing is to start something.

Nice post really. But even with very bright business ideas, money bags dont seem to be ready to buy them, why?I have some and am ready to do business with any money bag that can try mine. It will cost just N3.5M and will likely pay back in 6months after takeoff.

With a nice proposal and model i dont think any reasonable firm will refuse it

With a nice proposal and model i don't think any reasonable firm will refuse it

couldn't have said it better myself, 9ja4eva, !

Many people develop ideas and try to get people to fund them without giving any sound reason for any investor to want to fund them. You have a good idea to supply computers to corporate organisations, banks etc. You know a computer wholesaler in dubai who can give you good prices, you're sure of a demand for PCs in the Lekki Axis of Lagos. You approach a person who u think has plenty money to support you. As good as ur plan sounds on paper and in word-of-mouth, he refuses. You try others and they all refuse. You're confused what's wrong? Let me tell you what's wrong:
1) You have failed to address the first and most important issue - "what's in it for me (investor)? In presenting any idea, proposal or business plan to any would be investor, you must come from the approach of what they stand to gain or lose if they dont invest. while people hate to feel manipulated, you must softly tread the ground with persuasion to let them see that if they invest, they'll gain much more than money; they'll become a part of a fledging company, they'll gain the recognition of a founding investor. etc. You need to tie all that in.
2) You have failed to properly articulate your plan - its not enough to say you have an idea or that you have the supply/demand side settled, you must also have it on paper. Do you have tangible agreements with the supplier? on paper? Do you have contracts with the organisations to supply? Do you have a workable plan to allocate funds for purchase and receive funds from sales? on paper? You have to put it down. The good book says, 'Write the vision down, so that he that readeth it may run with it". One speaker i know says, if you can't read it, you cant run it.
3) You have not presented an exit strategy for your investors - the paramount thing on the mind of any investor is the safety of his/her funds i.e. "how do i get my money back". Interest on the money is secondary at this level of thinking. The prime issue is, if the business doesn't work and u have to cash out how do i get my funds back? You have to present an exit strategy for the investor. This can come in form of collateral, contract agreements on Effective Force Sale Value (EFSV) of the goods u bought, shares in the company etc.
4) You are only looking at the money you need. You're seeing it as support, he/she is seeing it as trust, commitment, help, risk, loss of valuable resource that could be deployed elsewhere etc. You need to reckon with all that and address it.

I'm sure there are more things u could do. Guys in the house what do u think?

Hello 2ceSharp,
Pls i would like you to give me more ideas on how to go about rendering internet trainings to secondary schools. I presently reside in a place where most students are not internet literate and i will like to render this service to them and also make a profit.
I will appreciate if you can reach me on princechidy2000@yahoo.co.uk
Thanks in advance.

Please i would like you to give me more ideas on how to go about rendering internet trainings to secondary schools. I presently reside in a place where most students are not internet literate and i will like to render this service to them and also make a profit.

Basically you need to have a laptop, projector is not necessary. You have to download pages from the internet to show step by step how to browse and why people do it. what information is available on the internet and how it can be used to improve one's self. Its a matter of what u want to really acheive. People must get satisfaction for their money so value the information u're giving and put a price on it. Value from their viewpoint i mean.

Hi 2cesharp,

Your post is just too wonderful and i sincerely appreciate it because i learnt a lot from it.

Please kindly update me, what kind of business can start with 500k to 1M that at least generate your interest of 50K a week?

Though, what i have in mind currently is Ice block making. How much those it take to start? what are the thing to put in consideration.

Also, enlighten me more on a business i can start apart from the Ice Block making.

Regards,

Larryobest

Please kindly update me, what kind of business can start with 500k to 1M that at least generate your interest of 50K a week?

Though, what i have in mind currently is Ice block making. How much those it take to start? what are the thing to put in consideration.

Also, enlighten me more on a business i can start apart from the Ice Block making.

interest of 50k a week? on 500K? Dude if u find one please let me know, !

But seriously, you dont expect to just start a business today and it immediately start churning out profits. it takes a while. its like driving an automatic transmission car. You fire the accelerator, the car seems not to be responding then it suddenly kicks into gear and picks up speed on its own. You have to build that profit making ability into the business from scratch. the way you structure ur product, marketing, sales and delivery.
also Ice-block making business though lucrative and very cost-efficient since all u need after the initial capital outlay is water, yet requires some good marketing to be almost as profitable as u desire. You'll have to go the extra mile of going to halls that are rented for parties, wedding receptions etc to paste your posters and stick ur banners. infact u can contract them to direct people to you so that all parties in their hall patronise u. YOu need to also go further to really identify areas where NEPA seems to be a wishful thinking and supply supermarkets that sell drinks etc. You have to do a little more to get that more profit. But still i do not think u'll get that much as interest but as sales maybe, ! after a while too, !

Ever considered print contracting? supplies? and fisheries? ur 500k might help you start these business ideas and go a long way in profiting too, ! All the best in whatever u do, !

@2ceSharp,

[flash=200,200]http://Ever considered print contracting? supplies? and fisheries? your 500k might help you start these business ideas and go a long way in profiting too, ! All the best in whatever u do, ![/flash]

Thanks for the prompt response.

You made mention of Print contracting, considering my 500K estimated starting capital,do you think the capital can buy or this big printing machine or what type of machine can one start with and how much does the machine cost? What of working capital? papers? etc, lastly how do i get people to supply to?

To talk of supplies what kind of Suppliesdo you mean and how do i get the right people to supply to?

Fisheries, how do i get started?

Please could you help me with something like feasibility report on Ice block making and fisheries? My e-mail address is larryobest@yahoo.com

Brilliant!!! Bravo

gr8t , starting point for so many pips.

I salute your post.

bump

this thread should always be on top

2cesharp please are you a consultant?you seem to be well versed in many areas,how did you do it?

Well am Into Foreign exchange so getting a Bureau De Change is a nice and good thing to do in Exchange line any one in need of more info can ask.

Hello gowaga can u enlighten me more on the currency exchange biz? I have intrest.
Thanks

stance:

Hello gowaga can u enlighten me more on the currency exchange biz? I have intrest.
Thanks

Bro, the biz has two faces but the one i recommend is getting your license from the CBN
cbn bids 1-2 times a week. well just drop ur mail or ID so we can talk over it.

Exporting of local commodities has proven a very lucrative business. What if i take you product sourcing, development,assurance,export procedures, registrations & documentations, challenges, financing,packaging, labelling, pricing, research and many more/07033097160. Goodbye.

Thanks gowaga. My email is mailingstance at yahoo dot com. I am expecting ur mail.

@2cesharp/fellow NL,

Thank you for your insightful lectures and feedback. Can you advise of a possible way of selling cements without owning a big shop or warehouse. I am trying to conserve the little capital I have in actual purchase but am wondering how possible it is to make good sales without an outlet. The cement could be replaced with any fast moving consumer good.

Hello,

What about on line marketing, Its also really nice one right, ?

The location and development of viable business ideas is as much an art, or matter of luck, as the use of systematic techniques. Certainly, you can use structured approaches, as described below, but the reality is that having the right background, being in the right place at the right time, and working hard to create lucky breaks are likely to be just as important in coming up with sound business ideas.

Nice to meet & read about enterprising fellow NLers, kip it up!

A business idea starts from identifying a need and providing a creative solution to that need

being successful in business is simple, we need to take time and identify needs people have,if we can successfully fulfill these needs we have created a wonderful business opportunity

To develop a good business ideas ,document all the problems faced by people of your country,locality and then position yourself to provide solutions to those problems, great business ideas can develop from there.

ALL YOU NEED DO IS A LOT OF RESEARCH ON PHOTOGRAPHY AND THEN NARROW IT DOWN TO YOUR NICHE (WEDDING). I ASSURE YOU THERE ARE ALOT OF RESOURCE MATERIALS THAT CAN HELP YOU OUT. SEARCH WELL AND YOU WILL MAKE IT.

ISHOLA A.K
multipleincome4naija..com