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Should I Resign My Good Bank Job And Start A Business? - Career (5) - Nairaland

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Re: Should I Resign My Good Bank Job And Start A Business? by Meringe(m): 11:26pm On Jun 01, 2020
Number 1 failure, you have 450k job and you have only 2m savings. You are a failure.
Re: Should I Resign My Good Bank Job And Start A Business? by ahiboilandgas: 11:32pm On Jun 01, 2020
tosinntoyin:
Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.
pls dont resign ...runing a bussiness stress doubles your current stress.....u should move to near by location near your work place...

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by kevweflex(m): 11:34pm On Jun 01, 2020
You are posted to another location in Lagos State, you are complaining. When I was in 9ja, the transfer na another state entirely. Whether your wife and kids dey something important, not their business. You relocate with them all. We nor resign o. My brother, move closer to your work, or are you a homeowner? If you are renting, just relocate, easy stuff. Relocate your children to another school. God get better plans for you in this new location. Open your eyes and see that business there.

3 Likes 1 Share

Re: Should I Resign My Good Bank Job And Start A Business? by afecgivers: 11:34pm On Jun 01, 2020
Oga 2million is too small to start a business compared to your monthly income. If at all you must start a business, I will advice you start it while still retaining your job. Build the business to worth atlist 30million naira before resigning your current job.
Re: Should I Resign My Good Bank Job And Start A Business? by ahiboilandgas: 11:34pm On Jun 01, 2020
SolarEdge:

You don't have to resign op. Your money can work for you. If you wish to put your money to work you can chat me up. We can partner in renewable energy supply in Nigeria ( Lagos State). I'm a professional in this field. You will thank me later. Send me a DM if you are ready for a deal. 08159908317
crook

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by 234GT(m): 11:36pm On Jun 01, 2020
tosinntoyin:
Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.

Please dont resign. Get a new accommodation very close to your new branch and you will be okay.

2M is less than 5 months salary for you, so it's not an amount worth resigning with.

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by Olamitunji147(m): 11:38pm On Jun 01, 2020
Get an apartment close to new working place and change ur children's school to ur new area when they resume while u start a business bt don't leave ur bank job until ur business can generate close to monthly salary as profit or more..
Re: Should I Resign My Good Bank Job And Start A Business? by Great0000: 11:38pm On Jun 01, 2020
Don't quit your job yet.
Start up a business alongside, allow it grow first, then you can really decide.


With only $2 you can still get rich this 2020.
Check my signature for link.
Re: Should I Resign My Good Bank Job And Start A Business? by adetayoonas(m): 11:46pm On Jun 01, 2020
jaxxy:


Never leave a good job for an untested business idea. Even if people who had a business already running while working and then resigning to fall back on it alone, presents a lot of challenges cos u now depend on only that source of income talkless of an untested one.

If u want to resign u must plan it and have money for a business and also a savings kept apart for daily runs and Emergencies. U can’t put all ur funds into an untested or new biz idea unless Ure partnering with sm1 already grounded in that business idea. So start the biz now and have a idea of the income it generates over time and how stable b4 u leave.

As for the bank work when u resign u can always get another with better conditions in due time. Banks give preference to experienced bankers.






This mainly applies to marketing dept
Re: Should I Resign My Good Bank Job And Start A Business? by strangeee: 11:46pm On Jun 01, 2020
FivePeas:
I think you're being too hasty and would appeal to you not to make a hasty decision that will cause you damage because you sound like someone who's about to react ( from negative reactions ) rather than someone who's about to embark on a well planned action. There's a difference. Trust me I know.


I qualify to give you sound counsel as a business operator and would like to discredit any thoughts of you quitting you job because of your savings.


Let's take it step by step


1. Financial security is important. Can you reduce your monthly expenses and boost your savings so you can save let's say 300k monthly, which in six months gives you an approximate of another 2 Million Naira


2. Start the process of setting up a business while you're still employed. This way you can weigh the options if it's for you or not. And can easily convert your salaries towards the establishment of the business


3. Do not quit your job until you've had a well to Houghton out business plan and have put it into effect. Remember money is just half the equation, the other half the business


4. Be more tolerant rather than being irritated because things aren't working for you from a place of convenience. Start thinking positive thoughts about the positives of your job. I'm sure it can't be all negative. Whatever it's costing you, give yourself the opportunity to reflect and tell yourself giving it six more months for proper planning won't do you harm


5. Get a second accommodation closer to work. So you can shuttle between both ends. Friday home till Sunday. Have you considered this?

Very very very Good Advice
Re: Should I Resign My Good Bank Job And Start A Business? by bayotwice(f): 11:47pm On Jun 01, 2020
fatymore:
sincerely I can remember, would update you once I check my siggy
Ok sir/ma
Re: Should I Resign My Good Bank Job And Start A Business? by Charly68: 11:55pm On Jun 01, 2020
Follow your inner drive to become great in life..banking can only earn you a living and not wealth .Your dream will make you great in life..if business is your dream... damn the consequence and go for the real thing

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by KoolBigk(m): 11:55pm On Jun 01, 2020
C'mon! you don't have to quit your job, just relocate nearby your new office & change the kids school as well.

If you don't wanna relocate, look for someone that will be dropping & picking them up after school on your behalf.

Remember ; even the world itself is never stagnant, it keeps rotating!
Don't lose that job, keep your bank rolls, rolling in!
Re: Should I Resign My Good Bank Job And Start A Business? by Investnow2017: 11:56pm On Jun 01, 2020
Brunicekid:
2 Milli is something, but not overly sufficient... You can endure, work for more months, and make more money.

I have this feeling that there is more the OP is not telling. How old he is, how long he has been working for that bank, his likely payoff if he chooses to resign and why he is not considering the option of moving closer to his new job location.
OP does not seem to me as someone who is business inclined, because the question you asked appears too cheap. You have no business plan, you have saved up just N2m, you have kids to care for and you are considering resigning because of long hours of commuting. I think he has not mentioned his ACTUAL problem.
OP you are likely under pressure either domestically or at work, and you are better be wise not to act rashly. Gone are the days N2m amounts to something in Nigeria. When I read your post I thought I read N20m only to learn from those commenting that it is N2m. I too wanted to learn, but no one has mentioned any business one can start and run with N2m in Nigeria that can fetch one 50% monthly of OP's current salary. Is there any business like that? That one will not have the kind of stress that OP is wanting to run away from? I am just asking to know please.
We pray situation improves, in Nigeria currently unemployment is not something to wish even ones enemy. Have you thought of sitting watching those kids crying for groundnut and biscuit and you cannot provide it for them or asking for assistance from friends and you are turned down? Running any business in our generator-propelled economy is no fun OP. Do your due diligence before you embark on anything.
.

2 Likes 1 Share

Re: Should I Resign My Good Bank Job And Start A Business? by God4memi: 11:56pm On Jun 01, 2020
Oga please don't resign now that you don't what business to do rather get an apartment closer to your new office and change your children's school and good for you now that schools are yet to resume, it will afford you time to search for a good school near to you and for the #2m please put it in fixed deposit in your bank or another bank.
My suggestion though
Re: Should I Resign My Good Bank Job And Start A Business? by BABANGBALI: 12:01am On Jun 02, 2020
My brother I won't advice you to leave your work for now, going into business is very risky moreover 2 million naira is nothing in Nigeria of today. I made the same mistake when vickyrotex advised me to leave my job at NNPC and go into cement business. Today na lamentation level I dey o, meanwhile NNPC was paying me 2.5 million per month then

3 Likes

Re: Should I Resign My Good Bank Job And Start A Business? by hardbody: 12:02am On Jun 02, 2020
tosinntoyin:
Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.

I wanted to be harsh before.

My advice..dont quit. You will get by. Save more. N2m is paltry. You wil need to pay house rents and dchool fres soon. Think long term.
Re: Should I Resign My Good Bank Job And Start A Business? by Impostor: 12:02am On Jun 02, 2020
Ibkay32:
If you need someone who can help you look after when you go work with good pay am at your service, am also a graduate looking good job but all effort to see one failed, you can reach through08134819237

So that you can kidnap them? Please poster ignore any such posts online pls
Re: Should I Resign My Good Bank Job And Start A Business? by Nickxander11(m): 12:07am On Jun 02, 2020
90% of lagosians are facing the same tafffic wahala.
Guess you former branch is just some mins drive from your house but now all you have to do is adjust.
Here are some tips to resolve your problems.

- Get a nanny/househelp whose responsibility includes preparing and taking your kids to school every morning and also bringing them back.

- Relocate to somewhere closer to your working place as this will reduce traffic stress.

- By now you should know that the best bet to beat traffic in Lagos is to leave your house very early.so study the traffic in your area and know when is best to leave your house

Then the issue of resigning shouldn't be your option because 2mill is nothing now, you need more bucks!
Have you considered house rent and school fees (which I know will consume about 1m if not more) and House expenses for someone with kids?

After sorting out your bills you will discover you won't have up to 500k left.
If you manage to pay for shop how about the goods/tools you need for the business?
On a second thought have you imagined the business not surviving?
In conclusion I suggest you adjust and if you really want to leave your job because you feel you will do better in business and not because of work stress then you need to give yourself more time to save, start the business in little folds as a side hustle, experience the ups and downs of it then finally make a choice if not, na express you dey go o.
Re: Should I Resign My Good Bank Job And Start A Business? by shege45: 12:09am On Jun 02, 2020
tosinntoyin:
Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.
oga call your mother or pay a nanny but install cctv in your house. In this era you wan leave that job

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by Euegene100001: 12:13am On Jun 02, 2020
Don’t resign erase that thought fast. Grow ur career . I’m guessing you rented the apartment you live in now if so, look for a another close to your work place employ a driver to take them to sch and back for now. Business is not all always all rosy as you think. Whatever you decide don’t resign
Re: Should I Resign My Good Bank Job And Start A Business? by Nobody: 12:26am On Jun 02, 2020
[Don't quit your job because you have saved 2M which is four and half months of your salary, before you quit your job save at least one and half year salary in your bank account Start a business then norture it to a certain level before you quit your job.

I am talking out of my experience of same action which I regret till date.

quote author=tosinntoyin post=90178267]Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.[/quote]
Re: Should I Resign My Good Bank Job And Start A Business? by BigIyanga: 12:28am On Jun 02, 2020
BigIyanga:
No try am. Na so one of my relatives resigned from his good banking job as a regional manager. Cashed his severance in millions and ventured into biz..I even invested in his biz... today, his family is feeding from hand to mouth because his venture failec. Biz is tough
Re: Should I Resign My Good Bank Job And Start A Business? by Ken4agent(m): 12:30am On Jun 02, 2020
tosinntoyin:
Dear all,

I really need an advice. I currently work with one of the Nigerian banks. My monthly take home is about 450k and quite good. My major problem right now is that I have just been transferred from a Branch at one end of Lagos to another end of Lagos. All efforts to convince my boss to deploy me to a closer branch has proved abortive.

Going to work daily right now is a very difficult especially during this raining season and covid 19th period. I spend roughly 3-4 hours on the road when going to work and back home.

I am currently raising my kids on my own right now and dont know how I would manage when school resumes. Before now I drop them off on my way to work in the morning and my friend picks them up to her house in the afternoon till I get back.

I currently have a savings of 2million and would love to start a biz( I dont know what kind) as am comptemplating resigning and start a biz instead so that I can have time for my kids and not die due to stress

Please i really need advice for you all.

Bro check my signature below
Re: Should I Resign My Good Bank Job And Start A Business? by osazsky(m): 12:32am On Jun 02, 2020
Kbs468:
No please don't quit your job oooooo

meanwhile, As a banker, you shouldn't have difficulty in convincing 10 people to register under you in the search for this year's $5,000,000 ooo

Ask me how?

see the below for details
oga if u have 5m dollars u wont be in nairaland
Re: Should I Resign My Good Bank Job And Start A Business? by Iamdboss: 12:42am On Jun 02, 2020
I laff at u in Spanish.....

Do u think u will start a business now and starting getting profit from on set?

Keep your job, save more..
#2m is nothing in present day Nigeria.
Re: Should I Resign My Good Bank Job And Start A Business? by Iamdboss: 12:44am On Jun 02, 2020
osazsky:
oga if u have 5m dollars u wont be in nairaland

Àbí o ... Awọn ọmọ àsè.... Looking for who to scam upandan
Re: Should I Resign My Good Bank Job And Start A Business? by Costanostra: 12:46am On Jun 02, 2020
Put the 2M into MBA forex, get your 15% monthly which is 300k, after 6months , you would have made 1.8M plus your initial 2M bringing it to 3.8. Put back the 3.8 and in 6 months you would have 3.420, add it to 3.8 and you will have 7.2 or thereabout....if you put in 7 million at 15% a month, that's like 1.50M a month....all these is achieved under one year....now you have a steady 1M coming in a month plus your 450K job, you can wait till 3 or 4 years, save up, get the requisite skills needed to run the business of interest and then set it up....while building up your capital in MBA forex, you can as well join network marketing (Longrich ) and build another stream of income ...3 years down the line, you would have had more than enough capital for your biz and even reserve for daily needs....I would advise you go into FMCG ( Fast Moving Consumer Goods).

3 Likes

Re: Should I Resign My Good Bank Job And Start A Business? by Cousin9999: 12:47am On Jun 02, 2020
Nah. Just move. Is it that hard to get another place?
Re: Should I Resign My Good Bank Job And Start A Business? by MasterJD(m): 12:56am On Jun 02, 2020
Have you thought about getting a maid hat can help you take care of the house chores and your Children so as to reduce your workload?

Have you thought about finding a home closer to your place of work?

Do you know that it's very rare to have a job of that type in Nigeria? Where You even have Saturdays and Sundays as free days,with Public holidays

Do you know that Business is not bed of roses and can overwhelm and frustrate you if you lack the experience or etichette?

Do you Know that even a business described as good business can frustrate your life and take you to square one if you lack tolerance and patient and if it's unfortunately not situated at a strategic place?

Do you know that for some business to stand you gats fund it for a period of time even if you don't break even initially as in at the beginning period,can you be able to do that with 2m your only savings while paying for your house rent and taking care of yourself and your children?

After answering those questions above,I believe you will come to a practical conclusion and make a decision that you will not regret.

I wish you well! (JD)

1 Like

Re: Should I Resign My Good Bank Job And Start A Business? by fastseo: 1:13am On Jun 02, 2020
Please don't resign. Reject that voice.

Get a place closer to your work and change school for your kids this new semester or term.

2 million naira bro is nothing oh.

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