I will never understand the point of this thought-process. You clearly weren't attracted to this man and you wouldn't be happy if you were currently married to him, so why do you care how his life is playing out?
Everyday, I see posts asking, “why would you lock ₦10m to get ₦1.5m in 365 days when I can put that money in a business and earn xyz profit monthly?”
My question is simple: if you're that certain the business will perform exactly as projected, why not take a loan and scale it? Why not sell everything you own and go all in?
Statistically, 80-95% of small businesses and start-ups fail within the first 5 years.
Over 50% shut down in the first year.
The success rate of new businesses or startups is only between 5% and 20% in Nigeria (source: Moniepoint)
The reality is that business returns are not guaranteed. Market is mostly unstable; costs rise due to insecurity and other factors like US Iran War. Also, consumer spending is very low. Unforeseen events also introduce shock into the market. This is why people invest their money in low risk endeavors. Super wealthy people do it too, so it’s certainly not a dumb idea.
Many of you who wax on and on about business ideas never factor the risks in our economy where prices are unstable and purchasing power is under pressure. Especially in this country where the supervisor or manager wants to consume your sweat like the migratory locust.
There is nothing wrong with entrepreneurship, and there is nothing dumb about choosing a lower risk investment, especially if you made the money from another source that is still active.
Mouth is good motors.
This young man resigned from his 9-5 job last week.
He said he has managed to save N2M. So now he wants to start a business.
So he is asking me, which business can he start with 2,000,000 Naira and can be generating 200k-400k profit on monthly basis in Nigeria?
He wanted to lock the money for a year in one of those banks for a 20% ROI but as a businessman I told him “that is not a good investment” but I don’t know a business 2M can start now including shop rent and furnishings.
Abeg make una give me in-depth insight so I can help this young man.
“My first 2 years salary at the ‘Who wants to be a millionaire’ show was 160k Naira monthly but I had to put on a suit and acted like I own all the money”
- Frank Edoho
It’s a culture problem.
In low trust societies, everybody is trying to outsmart each other, but it results in chaos and they wonder why.
The irony is that they don’t even see the cause and effect chain. Too myopic to see the big picture.
Estate agents do the same thing by trying to charge more than the owner of the property hoping the tenant does not find out. Everybody is doing the same thing at a different scale.
Imagine your client refuses to pay you because he’s trying to be smart too.
Bolt drivers will tell you they can’t complete a trip for the amount on the app after agreeing to the trip.
It is impossible for this type of society to produce leaders who do not mirror it.
An 11 year old girl came to register for antenatal at the hospital but said she was 17. We could clearly see she was not 17 so we pressed further until she said her real age.
We asked her and she said the man that impregnated her was the person that brought her to the hospital but he stayed outside at a distance. We came up with a plan to lure him in, then the police was alerted. They eventually came and took him away, while her parents were also contacted.
The next day I asked for update of the case and the police said they released the man because the girl’s father paid the man’s bail. The girl’s father said he gave the girl to the man as debt settlement of money he borrowed but couldn’t pay back.
How much did he borrow? ₦150k 🤦🏾♀️
When I first got married, I called my mom to complain about some argument my husband and I were having. My mom stopped me right there and said, "unless you are in danger, dont ever let anyone into your marriage, not even me". Its was the best advice I could've ever received as a young wife. It allowed me to take my concerns directly to my husband, think thru how I really feel without someone projecting themselves on me. Gatekeep the marriage.
There’s no way I’m driving a 100m car while my sister dey use leggedz Benz. The thought of my sibling jumping bus while I live in absolute comfort doesn’t sit well with me. This is ‘my opinion’
Jealous of siblings ke?
Who raised you people😂😂?
As my younger sister tear SUV wey worth almost 100 million last year, I first give am full tank and money for extra full tank, make she know say her big sis wey de use leg waka the whole Lagos mount😭😭😂😂.
Wetin concern me😂😂