FohowNigeria:


put your mind off loan because any business you start up with loan is a bad business in the first place.

the business you start up that help you raised capital for the second line of business is your true start up business.

ok

This post on nairaland will shed more light on this topic:

https://www.nairaland.com/3112096/challenged-yourself-think-bigger

Thanks

Nice write up but I smell some discouragement to the older folks. Everyone can start a business no matter their age.

op you're from a wealthy home that's why it's easy for you. I'm a graduate, I'm in my early 20s I have the drive and urge to go into business, I've got business ideas. NO CAPITAL. that's the problem of many youths here.

Well said

virginboy1:
Many youth are indeed scared of putting their hard earn money into any business for now.

Due to the paranoia syndrome of being scammed, epileptic power supply,no fuel, in fact no motivation.

sighssss.

I pray say one day e go better.

seconded and thirded....the country is just too harsh now buh kosi were...mio lowo bi dangote nisin buh mati were bo.

Good

timilehing:
Good but where is the capital?

I wonder oh, very soon Seun go say make we no bet again.

agulion:
my Igbo brothers knew this since the time of Abraham

Igbo brothers no dey carry last when it comes to business. I know three guys who purposely refused to go to university because of business. today two own big boutiques and the third A big time spare part dealer. no be by school joor. Who school epp

timilehing:
Good but where is the capital?

Capital isn't the problem. When the idea is good, people will come in wth their money.

Betting ti take over..[color=#006600]

virginboy1:
Many youth are indeed scared of putting their hard earn money into any business for now.

Due to the paranoia syndrome of being scammed, epileptic power supply,no fuel, in fact no motivation.

sighssss.

I pray say one day e go better.

Sure. It will get better

Rajosh:
op you're from a wealthy home that's why it's easy for you. I'm a graduate, I'm in my early 20s I have the drive and urge to go into business, I've got business ideas. NO CAPITAL. that's the problem of many youths here.

The government is not even helping matters, what stops you from using your certificates as collateral for business loan from the government?

Lemme answer: corruption! Yet the house keep earning big.

Awon werey jati jati

rheether:


Capital isn't the problem. When the idea is good people will come in wth their money.

that is not always true....which good people?....

timilehing:
Good but where is the capital?

this is a very congent question OP didn't answer...I remember when I was in school a friend of mine said he was going into business...I asked him who will give him capital...d guy insisted business business...


fast forward after NYSC., d guy go Abuja., d estimate he got for d business then(2009) was #2 million... my guy go look for job oooo... Now at least he has worked and was able to raise capital.. he is into transport now not d former business

rheether:


Capital isn't the problem. When the idea is good people will come in wth their money.

who told u capital is not importan. forget any business idea..once capital is absent., everything na zero...

anochuko01:
yaaaawns.... good morning op. I'm 23, I wanna start an importation business. any advice?

pm me let tok

Abatsam111:
At 22 I was working as a staff in a multinational bank, and having the time of my life. Two years later, I quit my job and started my own business. And yes, I was still in my twenties.

I was a young man who had good prospects in the banking industry, but I was willing to throw all that away. Lots of my colleagues in the bank thought I was out of my mind.

I kept on hearing statements like: “It’s a big risk”. “You could fail”. “It is very demanding”. “You will never have time again”. “You might go into debt”. And my favourite: “It is not easy”.

Presently, some of them have lost their jobs due to the recent dwindling price of oil which affected a lot of businesses. Many of them are now willing to start their own businesses, as getting new jobs has not been very easy.

I am grateful that I opted for entrepreneurship when I did. Was it a very easy decision for me? Absolutely not! I just had very strong reasons which pushed me to take that leap.

If you are still in your twenties and you have a business idea, launch out now. Below are 9 strong reasons to start a business in your twenties:

You still have the much needed drive
Starting a business is easy; building it into a successful enterprise is the hard part. It requires a lot of enthusiasm and drive.

There are times when the business will demand a whole lot, or all of your time. These are times when you may be so busy that you hardly sleep for some days, and you could break down unless you take these steps. These are days when you may not have enough money, so you are forced to do a lot of things by yourself so no delegation of dutiesfor you. Your drive may be all you have to keep you going on such days.

Since you are still in your twenties, chances are that you still have a lot of that much needed drive. Maximize it by starting a business now that you are still in your twenties.

2. You don’t have a lot to lose if you fail
The first business I started folded up a few months later. I was a college student back then and the demands of school were too much for me. I couldn’t just afford to give enough attention to my new business. I was not surprised when it failed.

The business was a telecom airtime voucher selling business that I started with about $120 dollars. When it folded, I quickly shifted all my attention to my studies. I had something else going on for me, and didn’t really have a lot to lose.

3. You can afford to take the risk.
If you are still in your early twenties, there are chances that you are not responsible for anybody else except yourself. You are probably not yet married; neither do you have a kid yet. That means that no matter what happens to you, you have just yourself to worry about.

This knowledge was what gave me the courage to quit my banking job and launch my own start-upsuccessfully.

4. There is no age restriction to business success.
Young and successful
I saw a story recently about how Tucker Hughes was able to build a business and become a millionaire at 22. His outstanding success proves yet again that when it comes to being successful, age is just a number.

5. You are still easily impressionable
One of the key factors that determine how successful you will be as an entrepreneur is how much you know with respect to your business. This factor will work to your favor if you start a business in your twenties.

This is because you can easily develop new skills, and learn a lot of things pertaining to your business. Doing this means you will succeed a lot faster than most of your counter parts.
6. You probably spend too much time on the internet.
There are a lot of online businesses that you can start by the way. But even if your business is not an online business in a sense, it will definitely need an online presence, at least because your business needs e-commerce to thrive.

A lot of people within your age bracket spend most of their time on the internet. If you do, rather than cut your online presence or social media activity, channel it towards your business.

7. Getting a job will be easier if you decide to switch than if you are older.
Everybody must not be an entrepreneur. If you try your hands on starting a business and you find out that you are not cut out for entrepreneurship, then you should return to the labour market. It will be a lot easier for you to get another job if you are still below 30.

Your Turn
How old were you when you started your first business? Is there any advantage you feel you had when you were younger? Please share your experience in the comment section.

Credit: http://www.mystartupceo.com/9-strong-reasons-start-business-twenties/

So wot business did you venture into when you resigned

#Gbam!

well said op,i remembered hw i did a small scale biz when i was in sch,selling of fairly used cloths,it realy helpd me dat ma family kept wondering how i made it happen,i bought ma 1st land b4 i even finish university,from d same biz,today i don enter agric again nd to d glory of God,things r working out well,its alwys good to start early,then by 30s u r alrdy there,God bless ur hustle,bless mine nd to everybody dats ready to take d bold step.

Nice one

timilehing:
Good but where is the capital?

.......Rich dad said: wen u don't ve money to invest,invest ur Time.....u need to ve good knowledge of d business.....knowledge is more important Dan capital

The more successful entrepreneurs we have the better for the country.

Very True.....

agulion:
my Igbo brothers knew this since the time of Abraham

Haha, chief, must u tribalise everything? The richest man in Nigeria is a Hausa man, the second richest is a Yoruba man , adenuga, the third richest is also a Yoruba man, otedola. The richest woman in Nigeria and probably in Africa is a Yoruba woman, alakija. It's not only igbos that are enterprising, others are, and they probably work smarter, not necessarily harder.

being at d right side of cashflow quadrant offers financial freedom.....wich r business owners n investors.....employees n self emplyed wuld always find it hard to cum out of d rat race......always lookin for a higher pay wich is unending..... financial IQ is wat our skul shld b teaching now buh I wonder wat benefit is Nigerian institutions.... making 90% of d youth cum out wif d same mindset of let's go and find a job wif a higher pay..

Started at 21, slow and steady but God has been faithful

free2ryhme:
I know people sho start business in their 50s even those who has been doing theirs for decades no smell the profit this woman makes.

She has employed over 15 staffs

God's favour isn't in our hand to control. Na only baba God sabi the formula him dey use share am to over 8billion people on earth

ojun50:
Op good point but hw we won do am na, for month now hv being sourcing for loan. Dis life

My brother. Simple! Draft a very good and convincing business plan(you can always download BP templates online). Source for viable investors, instead of loans(your BP will be your visa). Family and friends can also be a source.

.
Lastly, start from anywhere(do not let capital deter you from actualizing your aspirations).
.
Goodluck

Hello Nairaland.

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I can't properly explain it here in the nairaland.com forum how it works. However I will be willing to help connect you all to the experts who are willing to show anyone willing to listen how it works

These guys are super busy so I'd like to confirm if you'll be ready to meet with them. Let me know...

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freshdude99:

God's favour isn't in our hand to control. Na only baba God sabi the formula him dey use share am to over 8billion people on earth

Ask and you shall receive.


Simple!