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Nairaland Forum / Nairaland / General / Business / Brief Summary Of All My Business Encounters Last Year - I Take A Bow (58979 Views)
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Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by mayorall(m): 1:22pm On Jan 03, 2016 |
modath: That's your inner intuition as defined by Kenneth Hagin. It takes grace to do that. |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by acorntree(m): 1:35pm On Jan 03, 2016 |
4nobody4every1:we are eager to hear about your experience. 4 Likes |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by 4nobody4every1: 1:36pm On Jan 03, 2016 |
acorntree:ok, l will do that as we enter the new year when l am less busy ![]() ![]() 2 Likes |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Nobody: 1:40pm On Jan 03, 2016 |
YModulus.Pls, how desire a link to affordable USED UK LAPTOPS & PHONES in wholesales prices. 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by olojuede01: 1:46pm On Jan 03, 2016 |
Come see how to make money for here.... Cc ritababe, yinks89 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by nerilove(m): 1:54pm On Jan 03, 2016 |
This transport business (keke, bus or okada) is a very deadly business. Most of these drivers are very crazy even on hire purchase. Some can disappear with your vehicle. Some do give wrong relation or family and wrong address. Where will u go and find him.I'm not discouraging anyone going into this business just that its too risky for me when putting all parameters together 11 Likes 1 Share |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by modath(f): 1:55pm On Jan 03, 2016 |
9jatatafo: Tell that to Strive Mayisiwa .. ![]() mayorall: Thx bros , i know the right thing but it is not looking like it is right for naija. One should not cut corners but I'm not totally convinced one can be "ok" in the Nigerian sense without some sharp practices, i have numerous examples around me in this city that God "blessed" through public funds & they are still waxing strong as deacons, deaconesses & elders.... Ymod would have given me an orientation reset if that part hadn't been part of his story cos what i got is that the "profit" from that transaction helped in other investments, so I'm thinking of being less rigid cos it is not looking like it will take anyone anywhere in naija.. ![]() 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Ymodulus: 1:59pm On Jan 03, 2016 |
[size=18pt]The Currency Business[/size] The currency business, is the best business I have runned till date. And still running. In the currency business. It's the best thing ever to happen to my life. Story When I first start the currency Business I lost 1,126,000 and had to settle back using my savings. The Idea Funny the best business ideas I worked on, where all gotten when when driving. I started the currency business last year around September. I noticed then that, a lot of Chinese importers pay as high as 245 naira per dollar to import goods or send money to china. This is the black market rate of the dollar. Failure I thought to myself why can't I generate a way to send the dollars to china at a very cheap rate? Then I tried and I and a nairalander who schools in china TdayoF we both agreed to send money via money gram. It backfired. I did another it backfired I lost heavily I ended up using the returns from my car to settle up my Chinese clients. I lost N1,126,000 approximately. Some days later I heard on Nairaland from a close nairaland friend who I introduced into the importation business ( Jeff1506 ). I heard from him that a bank by name stanbic bank charges N199 / $1 to pay online. Then I quickly contacted my friend shinaf ( my business partner. Trusted, even though we have never seen till date ![]() Aliexpress Platform We contacted a Chinese friend , who is a Chinese. We told him then that we will pay for items on his store using our Naira Master Card. And that if we pay for an item, we will confirm the order and he uses the money to pay into any Chinese local account. Note! Aliexpress requires 15 days after which orders are confirmed for seller to get his money. But we wanted the payment to be daily and so we needed someone who can trust us and will use his money pending the end of 15days. Our seller was the right guy. He is very rich, as he has done official jersey and contract deal for Barcelona Fc , Under 23 Argentine football club, he runs other business. Mathematical Breakdown If we pay for an item of $1000 on aliexpress this is how the payment goes. Chinese local Account = $1000 + Aliexpress 5% = $50. ( those who are familiar with aliexpress knows that aliexpress takes 5% of any payment as profit. So I and my partner catered for it ) + Chinese partner 1.5% = $15. Total = $1065 Now when we want to pay into any Chinese account the sum of $1000 we will pay online $1065. Now $1065 * 199 ( stanbic rate for dollars as at then ) = N211935 / $1000= N211.935 / $1 ( exchange rate). This means the rate at which the dollars gets to Chinese local account after all addictions and all expenses is N211.935 per dollar Selling the Dollar Now as at that time the Dollar in black Market is N245 / $1. And 98% of importers use black market rate. In Lagos if you want to send $1000 for example and the rate is 245 per Dollar. The sending company charges you N3 per each dollar as sending fees. This means you are actually sending at N248 per Dollar. Innovation I and my partner sold ours at N235 / $1 . lol! We crashed the market and this got our phones buzzing. Who were our clients? When we started my partner shinaf ask us to focus on Nairaland Business. I refused, we even had misunderstanding over this. I told him that I want our customers to be the rich. Then he called me over ambitious fellow. So I made sure I handled marketing of the dollars. I used my connection with owners of big shipping companies in Nigeria and told them what I do. That way we sell to them N235 and they sell to end users 248. We build up our clients base. Some of our clients include. ***** Redacted ****** Issues * Every Stanbic card then had a limit of $5000 per card per day. And we always needed to pay up to $20,000 a day. We had to contact some nairalanders, and use up their limit for that day. If we contact a holder of stanbic and uses up his card limit for that day we give him 2Naira on every $1. This means we pay the nairalander N10,000 just to load his account and make payment online. Our trusted fellows were jeff1206 and one other nairalander. We had 4 Cards Every day we pay $20,000 online. Now profit. For every $1000 we send to china we gain this. Our selling price = $1000 * 235= N235, 000 - Our getting price= $1065 * 199= N211,935 = Gain. = N23, 065 We gained N23,065 per every $1000. And the lowest money we send a day is $3,500. Note at worst, when we say we there is no market for that day we send $3,500. So we continued like this in a day we made roughly N60,000 worst case scenario. Funding We started with N734,000. All Investors were nairalanders who I have done business with on close level. We gave them 10% of their income at end of month. We never got to month end. At 3rd weeks we refunded all their moneys. And interest. Sad Storie Banks began misbehaving with the cars daily limit been $300 per day and rate going so high with black market rate. There was no way we could keep up. We withdrew and relax. [size=18pt]Currency Business part 2[/size] During December, we got a means where by we can send Dollars at a very cheap rate to china, the dollars arrived china at a rate which gave us a margin profit of *** Naira We made use of the opportunity and continued sending. We still made sure our clients were the rich and big guys. We still sell more. In currency business 2. Some nairalanders where part. I employed some on contract basis of N4,000 a day. Also thanks to my close Banker friend who is also a nairalander. Thanks for your daily assistance. He gave us all necessary help and if I am to say he has like 30% of the business ![]() ![]() In currency business 2, we are making far far more than pattern 1. [size=18pt]January 2016 and new way of currency Business[/size] Due to the cbn regulations, my partner and I got to search for new ways of sending and we didbgot one. We got a company in Chicago and new York that sends money for Nigerians to Nigeria. But they had a fault. When Nigerians goes to pick their money they get paid at bank rate of N198 / $1. We cashed in on this contacted the company through someone I know ( its like person connect us to the oga at the top ). We told the company we can pay them at higher rate. They agreed. So if they are to send $10,000 today........ ***Redacted *** Now all we require from them is to send our money directly to china. We cater for charges and all and our Chinese agent picks the money and keeps in his account for us. This company now use us very well. And we do at least $2000 every day from them. And we make going to N80,000 from the deal. Competitors and Progress At this point in time. I am now the official money transfer agent for 3 companies. *****redacted ****** Success My rate still outshines all. I play and underground facilitator while they shout to take the credit. But am happy as long as I make money and they make money. ***Photos*** I sent my seller $3749 on Dec 30 via our new way Currency 2.0 ***second screenshot today: I sent our seller in china 983 from the united States of America. His gain is $15. See him doing subtraction. We sold the $983 this afternoon around 1pm. Our gain is around N46k to be shared by my partner and I. [size=14pt]Sorry I had to ensure that I don't release sensitive informations about this business, so I couldn't go into details about means and how I sent them. It's best it remains this way.[/size] 23 Likes 8 Shares |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by ritababe(f): 1:59pm On Jan 03, 2016 |
olojuede01: interesting |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by olojuede01: 2:07pm On Jan 03, 2016 |
ritababe:Oya invite the rest of the crew!!!! This topic is making brain... |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Ymodulus: 2:11pm On Jan 03, 2016 |
omogetoun1:Sorry re-send your invitation again ma |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by omogetoun1(f): 2:20pm On Jan 03, 2016 |
I did already, thru BBM. Thanks Ymodulus: |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by OCTAVO: 2:31pm On Jan 03, 2016 |
Ymodulus:Nice 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by buruike(f): 2:33pm On Jan 03, 2016 |
@Ymodulus I knew it then when I said your silence on NL means you are up to something bigger than importation! You simply use style dodge me by asking how am doing and all. Always on the go,no slowing down. Mr diversity. Keep excelling 5 Likes 2 Shares |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by otunbacarter(m): 2:51pm On Jan 03, 2016 |
Ymodulus I'm interested in some of these business, can I get any of your contact so we could talk |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Tmany(m): 2:55pm On Jan 03, 2016 |
Ymodulus:@young I dey watch u in 5D, Currency 2.0 ![]() 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Demex40(m): 2:59pm On Jan 03, 2016 |
Ymodulus: please sir, can i have your contact 2 add u on whatapps, tryin2 Pm but i cnt, really need ur assistance |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Gidiboss89(m): 3:00pm On Jan 03, 2016 |
Ym please I need to reach you ASAP yur contact please here's ma mail.. Eke1nne@gmail.com 08157716341 |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by mrjojo: 3:14pm On Jan 03, 2016 |
This is really inspiring, well done.. 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by gboyetade: 3:26pm On Jan 03, 2016 |
Nice one |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Gidiboss89(m): 3:32pm On Jan 03, 2016 |
Ymodulus:am like wtf! Please baba I need to speak with you... Please biko your gifted abeg.. Mail me abeg Eke1nne@gmail.com 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by paultm(m): 3:32pm On Jan 03, 2016 |
This is wonderful.... 1 Like |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by egopersonified(f): 3:45pm On Jan 03, 2016 |
Young modulus, can I send my son to you for his one year nysc in eleven years time? 14 Likes 1 Share |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by qquadry(m): 3:46pm On Jan 03, 2016 |
A long chassis ford transit van with high roof is available for hire or long term lease to move goods, appliances or equipment from point to point. contact quadnabresourcesltd on email- quadnabresourcesltd@gmail.com. Tel: 09092925426;08055826810 |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Nobody: 3:48pm On Jan 03, 2016 |
euromilion: Wrong assertion , entrepreneurs are made , while it may come to some naturally others have to learn it. 5 Likes |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Ymodulus: 4:00pm On Jan 03, 2016 |
[size=18pt]The MTN DATA BIZ.[/size] I did this business, I started with a mairalander MarcJoe and later we went our ways. It made us even more successful individually. The Data Biz is very profitable. I do get a 75Gig of Data then for N52,000 I then sell 1 Gig for N1,000. I sold on nairaland. I slashed my price. I always finish N75Gig in two days. This means a profit of roughly N23,700 - N25,000 ( excluding all phone calls and personal gifts and data's. ). I later stopped the business when Mtb limited the Number of Shares to 10. I sold my data on Nairaland and several people here know that Now the Data Biz is not a crowded market. Too many sellers. However it does not mean you can survive. April this year if all things goes through I will be selling data via a special USSDN. Everything still 40% on way. Now to invest in the data biz today requires N10,000 and you get to sale for N1,200 and get a profit of N2,000. If you fast you can sell 3 Batches of 19Gig making 6,000 a day. Cc: MarcJoe ( my elder man ) , Octavo ( Boss / Papa ), IzikJohn ( Supplier ). 6 Likes 2 Shares |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by GreatManBee: 4:17pm On Jan 03, 2016 |
Ymodulus: 1 Like 1 Share |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Nobody: 4:17pm On Jan 03, 2016 |
yusufobinna1: This period is not good for importation. To do well in keke biz, pray to get faithful drivers/operators. I do (times 2) Hire purchase. |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Ymodulus: 4:19pm On Jan 03, 2016 |
**** edited ****** 3 Likes 1 Share |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by chudy144(m): 4:28pm On Jan 03, 2016 |
Young.... I see you... |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Nobody: 4:29pm On Jan 03, 2016 |
Ymodulus: My bus and keke drivers are all married men. What do you mean sir ? |
Re: Brief Summary Of All My Business Encounters Last Year - I Take A Bow by Ymodulus: 4:31pm On Jan 03, 2016 |
[size=18pt]Conclusions[/size] Finally, as I leave this thread I want to do the following: 1. Apologise for all typo errors, I just typed straight from my phone no proof- reading of any sort. 2. A big thanks to MizMyColi. Thanks to you All and Bye. 25 Likes 6 Shares |
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