As it is today in Nigeria, every graduate who is not able to secure a job delves into Business as a last option. But is Business really for everyone? What are the secrets to be learnt when doing Business? Even if you fail ten times, should that be an end to your efforts?

*Taking a deep sigh*... I have an epistle to write on my personal experiences thus far but I will just go straight to the lessons I have learnt in starting a Business in Nigeria so as not to bore you and waste precious space.
My last Business was actually successful until the last stage which is in Marketing - I lost everything again for the umpteenth time but not without lessons learned which I will share below:

1.) For every transaction you want to make, make sure there is a written document to that effect bearing both parties signatures.

Once, a very good friend of mine told me of a Business that involved some thousands of Naira, which to me was not too big a sum but was a lot by normal standards. He said if I was interested in the Business, I would drop the money, then we would go to high court to process some documents and notarize it etc...and after 6 months, you get your investment and profit. I felt why the long journey, aren't you someone I know to even start with... He then made me to understand that in Business, there is no such thing as friend or family, the moment you start mixing these together you start preparing to lose. It didn't take me long to realize this fact.

There was a time I wanted to construct something so I told the fabricator to sign a note I drafted stating that he would follow the required measurement and also use original product as we had agreed. The man was surprised but at the end of the day, I noticed he did the job even beyond expectation - he already signed to that effect and I was certain he performed well because he was wondering who I am to make him sign a document before doing a job for me.
When the work was ready, I took it to another person for painting but this time, I didn't think anything could go wrong, we had no written agreement, just mouth to mouth transaction. Was I disappointed at the end? Absolutely! This man did rubbish and the opposite of what he was told and when I even complained, he took offense. I didn't want long talk so I took my final walk from his shop, nothing will take me back there. This is someone I already told I had other things to make with him, he probably forgot.

I have a lot to write on this point but that would bore you.

The first point leads me to my second point.


2.) Everyone you meet will want to try to outsmart you, shine your eyes.

This is especially if your Business is based in Lagos. Apart from being looked down on, people will promise you paradise before you pay them but once your money gets to their hands, they will deliver rubbish and try to convince you that what they have done is the best and when you complain, they get angry. To avoid stories that touch, always try to have a written agreement between you two signed by both parties. Be smart always, shine your eyes. People are more wicked than you may ever imagine.

Scammers everywhere, beware. There are people who believe that their smile lie in other people's tears. Trust me on this, you don't want to transact with those kind of people. They are very ruthless.


3.) Trust no one.


Where do I begin from on this? You must have read and seen this several times. It is still what it is, it hasn't changed. TRUST NO ONE, NONE! Even if the person is a known face, it is the more reason why you should be more vigilant because these people know your weakness already and may want to work on it to hurt you.

No one really cares about you, all they are after is what they can milk out of you. Pity no one when doing business else you become the pitied. Don't ever believe the 'I lost both parents' sub stories, it is always a trap to buy your pity.

In doing Business, it is better to do Business with someone based on the fact that you are confident they can do the job and not because you trust them. The two words may seem to be saying the same thing, but to me, they are not. I may trust you but not have confidence in you to put my Business in your hands while on the other hand, I may have confidence in you but not trust you enough to do Business with you.

To me, confidence is based on 'sureness' i.e. being sure while trust is based on faith.


4.) Never put all your eggs in one basket.

Based on the number of times I have failed in Business, some other people would have committed suicide. I even made the mistake of putting all my eggs in one Basket in the last Business I did. I wouldn't even blame myself. This particular business was already successful even before I started. My business plan guided me in every step of the way, I left no stone unturned in seeing that the business became successful. In fact, I was so sure nothing would go wrong that I put every penny with me in it. He he he, the world dealt me another huge blow and this was as recently as Wednesday the 10th. I lost everything. As at Thursday evening, I had only 150 naira with me, nothing in my account. By Friday morning, it was remaining just 50 naira. It was crazy. I had not eaten anything in two days - Wednesday and Thursday. The bread I tried to eat on Wednesday night refused to get swallowed, I just couldn't eat because I had just lost all I laboured for both financially and physically. If only I used half the money I put in the Business, I wouldn't have troubled much. But thank God for his mercies and family.


5.) Perhaps I should restate this again, TRUST NO ONE.

AND

NEVER STOP PUSHING, I believe there is always light after the tunnel.

Good points. Keep moving, you are almost there

Good points to keep in mind. Thanks for sharing. I have had my own share of disappointments too. I am currently facing a situation similar to one of the ones you have faced. I entered into business with a dude, buying and selling of petroleum products. I provided the funds, over 2m naira, while he ran the business. We shared the proceeds. Dude has been into the business and sweet-talked me into entering it. He remitted my own share of the proceeds for several months until I informed him that I wanted to terminate the contract and recall my capital. Dude went into incognito. He practically disappeared. His phone number has never been available again since then.