OkpaNsukkaisBae:




R.I.P to her. Beautiful woman. Always on her clean hijab. she do normally anchor NTA weekend file & NationWide. Kudu Abubakar & Cyril Stober them for don retire

iamoyindamola:

These guys are legends that deserves better recognition but Nigeria happened to them
They faded as they retired

chidekings:
oga all u do is just to argue,know what u know and leave what u don't know. never believe u know it all.go out on the streets and asking successful business how it all happened.

chidekings:
gadget sales...laptops specifically.

DissTroy:


#2 million to #50 million is 6 years is plausible and I believe him. That's 2500% increase.

Now compare that with #200 thousand to #400 million in 8 years which is 200,000% increase.

Nobody here is in Kindergarten.

There's a reason the Chide guy is being evasive with how his acquaintance made the assumed money.

chidekings:
gadget sales...laptops specifically.

Theflint1:
It's 2400% increase, which gives an average increase of 400%, year on year.

Let's say the seventh and eight-year percentage growth dropped as low as 50% and 30% respectively, Oasis's guy would have grown that initial capital of 2 million to 97.5m by the 8th year. It's not quite 400m, and for obvious reasons (I dropped growth rate steeply), but a pattern is emerging.

Let's say again that Oasis's guy continued to grow at the average rate from the previous 6 years (400% ), Oasis's guy would be expected to be worth 1.25 billion by the 8th year, and that my friend, is the arithmetic of compounding.

raumdeuter:


With 200k did this include cost of renting shop, paying utilities, transportation, staff cost and buying the laptops.

What will be the cost price per laptop around 2015

obainojazz:
35 Years of service and she probably didn’t earn much but someone is telling me you can earn 20million in salary in less than 10years.
Same Naija I know

raumdeuter:


With 200k did this include cost of renting shop, paying utilities, transportation, staff cost and buying the laptops.

What will be the cost price per laptop around 2015

raumdeuter:


With 200k did this include cost of renting shop, paying utilities, transportation, staff cost and buying the laptops.

What will be the cost price per laptop around 2015

Theflint1:
What is he renting shop for when he can sell most of the laptops even before arrival, and the rest he keeps in a small part of his 2-bedroom flat?
Utilities are his browsing data, less than some guys spend streaming 1hr of porn on a daily
Transportation/Shipping already factored in purchase cost and profit per laptop anywhere from between 30-120%.

Before business spoilt, 100% straight profit was pretty common. I'm talking too much already.

Doing phones is slightly easier as they're faster moving, and require less space to store them.

The above is for a business I know, and I'm sure the scenario would play out for a lot other businesses, differently...as long as they have the competitive advantage.

Shipping is on the average 10 days...burn the midnight candle shopping for deals and he does at least 30 rounds of business across a year and in 8 years, 240 rounds.

chidekings:
i think the best is not to labour the point.when u start such business with little,u don't start with shop immediately,your good name and referrals is how u sell.he got a shop in 2018 and thats when the business started its massive growth,this arguments amaze me,because their are many that has done way more than him that i know.maybe we all see the world and Nigeria specifically with different eyes.

Theflint1:
What is he renting shop for when he can sell most of the laptops even before arrival, and the rest he keeps in a small part of his 2-bedroom flat?
Utilities are his browsing data, less than some guys spend streaming 1hr of porn on a daily
Transportation/Shipping already factored in purchase cost and profit per laptop anywhere from between 30-120%.

Before business spoilt, 100% straight profit was pretty common. I'm talking too much already.

Doing phones is slightly easier as they're faster moving, and require less space to store them.

Shipping is on average 10 days...burn the midnight candle shopping for deals and he does at least 30 rounds of business across a year and in 8 years, 240 rounds.

The above is for a business I know, and I'm sure the scenario would play out for a lot other businesses, differently...as long as they have a competitive advantage.

raumdeuter:


I will like to know the numbers how much he spent on initial stock and setting up and how he was able to make the business work

200k was not big money in 2015, it's what many spend in a club one night but 400m is a huge amount and to have turned it around within 8yrs is quite impressive and needs to be taught in business schools

chidekings:
i think the best is not to labour the point.when u start such business with little,u don't start with shop immediately,your good name and referrals is how u sell.he got a shop in 2018 and thats when the business started its massive growth,this arguments amaze me,because their are many that has done way more than him that i know.maybe we all see the world and Nigeria specifically with different eyes.

raumdeuter:


So like how many laptops do you think he could have bought from source plus shipping and clearing cost with 200k in 2015. That will be about $1,000 going by the exchange rates then

Theflint1:
What is he renting shop for when he can sell most of the laptops even before arrival, and the rest he keeps in a small part of his 2-bedroom flat?
Utilities are his browsing data, less than some guys spend streaming 1hr of porn on a daily
Transportation/Shipping already factored in purchase cost and profit per laptop anywhere from between 30-120%.

Before business spoilt, 100% straight profit was pretty common. I'm talking too much already.

Doing phones is slightly easier as they're faster moving, and require less space to store them.

Shipping is on average 10 days...burn the midnight candle shopping for deals and he does at least 30 rounds of business across a year and in 8 years, 240 rounds.

The above is for a business I know, and I'm sure the scenario would play out for a lot other businesses, differently...as long as they have a competitive advantage.

Theflint1:
It's 2400% increase, which gives an average increase of 400%, year on year.

Let's say the seventh and eight-year percentage growth dropped as low as 50% and 30% respectively, Oasis's guy would have grown that initial capital of 2 million to 97.5m by the 8th year. It's not quite 400m, and for obvious reasons (I dropped growth rate steeply), but a pattern is emerging.

Let's say again that Oasis's guy continued to grow at the average rate from the previous 6 years (400% ), Oasis's guy would be expected to be worth 1.25 billion by the 8th year, and that my friend, is the arithmetic of compounding.

Theflint1:
If you're among like the top 2-3% of guys doing the business, as per work rate, you can move as much as 150 PCs per month...of course that's not what he'd start with, but remember I said he'd sell a lot before arrival, so based on relationship, the items gets picked, and sometimes, even before it's picked sef, you don collect money from person wey go buy, put your profit for one corner, waiting to release cost price upon pickup. There's a lot of guts and risk taking too, there's single deals of up to 150 laptops, and you luck on a supplier that can supply as much as 150 units twice a month...if you're getting them at a very good price, computer village don swallow am even before pickup. Imagine profit of 20K per laptop on 300 laptops.

Theflint1:
Bros no be today people begin do business, it's the nature of zero to semi-medium scale.

BlueRayDick:


This maths is not adding up one bit !

U are not even talking about a business in which he’s one of the pioneers/early entrants . U are talking about sale of phones and laptops that is a highly competitive market and u are telling us it’s possible to grow 200k to 400m ?

How ?

Did he kill all his competitors and stole their market share ?

Theflint1:
If you're among like the top 2-3% of guys doing the business, as per work rate, you can move as much as 150 PCs per month on the average...of course that's not what he'd start with, but remember I said he'd sell a lot before arrival, so based on relationship, the items gets picked, and sometimes, even before it's picked sef, you don collect money from person wey go buy, put your profit for one corner, waiting to release cost price upon pickup. There's a lot of guts and risk taking too, there's single deals of up to 150 laptops, and you luck on a supplier that can supply as much as 150 units twice a month...if you're getting them at a very good price, computer village don swallow am even before pickup. Imagine profit of 20K per laptop on 300 laptops.

BlueRayDick:


This maths is not adding up one bit !

U are not even talking about a business in which he’s one of the pioneers/early entrants . U are talking about sale of phones and laptops that is a highly competitive market and u are telling us it’s possible to grow 200k to 400m ?

How ?

Did he kill all his competitors and stole their market share ?

DissTroy:


This is exactly what a lot of Nigerian fintechs do - cook the books. Do colourful pitch decks with massive growth numbers which are unverifiable. VCs get hooked, they raise $3 million in Seed A round, and 2 years later, they are insolvent or closing up shop while the founder has exited long ago with investor funds.

These numbers are only glowing on paper. Not in the Nigerian ecosystem.

Are you sure you didn't cook the financials for Payday? Confess now.

nihilistjnr:


Bro, we know there's a lot of drug money in computer village and oshodi. Niggas using electronics consignment to move dope from Guangzhou etc. My Dad opened a construction supplies store in 2017 and shut it down in 2018 because dopeboys from China were flooding tbe market with massively undercut prices on tiling, roof shingles etc.

You're not turning 200k to 400m in 8 years in the laptop business that has ridiculous amounts of competition in CV. Let's stop the cap.

If you said a service-based business, or a tech startup that was bought out, I would agree.

Even Jay-Z's famous 92 bricks did not generate such phenomenal revenue.

Theflint1:
Phone/Laptop business are plug-based businesses, if you have a plug or access to plugs that you can control (these bastards never stay loyal for too long sha, but some can stay loyal for as long as a year ), that's your monopoly right there.

BlueRayDick:


This maths is not adding up one bit !

U are not even talking about a business in which he’s one of the pioneers/early entrants . U are talking about sale of phones and laptops that is a highly competitive market and u are telling us it’s possible to grow 200k to 400m ?

How ?

Did he kill all his competitors and stole their market share ?

nihilistjnr:


With 200k?

That's the price of a single laptop.

You're talking about deals of 300 laptops a month.

You're saying your boy sold one laptop and became the Tony Montana of computer Village.

chidekings:
this is not blood money,if not for respecting people's privacy,many guys on this nairaland has done more than that and they are normal people.when we say nairaland has helped us,this is what we mean.and as theflint said their is alot of risk taking.its not all rosy.