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#1 » by Jegz (m) » April 25th, 2011, 3:40 am

Do you find yourself craving to start a lucrative biz, dreaming of great success and returns, but always coming out of this imaginary passion empty-handed all the time? A personal research I conducted shows the 3 main things standing between you and your dream. These are your roadblocks. First in this thread, lets identify them, later we shall find ways of by-passing them.
roadblock.jpg

1. The Fear of Failure:
The outcomes of most investment decisions are undoubtedly unpredictable. This could be a win or a lose. Is the fear of a possible loss already paralysing you even before you make an investment decision? This wont let you succeed.
Its vital, yes, to consider ups and lows of a prospective business (risk assessment). However, I consider it a great weakness to let the fear of the controllable unknown stop you.
For instance, following the meltdown, when most stock prices are very low, a suggestion comes your way to buy low. Turning this down shows your fear of losing, again, if you once lost during the meltdown. I know of a few people who can stone you if you mention the stock market due to the injuries they sustained at the meltdown. But I promise you, a lot of people are making cool returns from this market daily.
Maybe you need more confidence. Maybe you need to believe in yourself. Maybe you dont even have all the facts about this kinda business (how the stock market works, for example). Maybe a positive attitude is lacking. Maybe... you should embark on a sincere self-assessment. Maybe...

2. The Lack of Capital
Many times, the actual lack of capital, or the presumptuous notion of the lack of capital (when actually you have enough) is a great factor that inhibits and truncates any business idea even in the bud. As I pointed out earlier, there may be an actual lack of capital, or an imaginary lack of capital- the start-up money.
What if you dont need up to that to start it up? What if you are attempting to bite too big in the beginning? What if you can negotiate good loan deals? The solution here lies in the right info.

3. The Lack of Lucrative Biz Ideas
More often than not, people have this fund but they simply dont know where to invest it. No single business idea in the head. This doesn't make you a dullard if you are in similar shoe. You may simply have a lot on your mind, or face a lot of distractions preventing you from focussing.
However, the solution lies in turning to the right place for cogent info, and also having the right expectation. Maybe business idea is not really lacking, but you are expecting too much returns from those available. You know you could invest N200,000.00 into a biz, and would give you a guaranteed monthly return of at least 15%, but you simply turn it down beleiving its too low a return. Now you are complaining of lack of ideas? This is not lack of idea, this is lack of focus!
http://www.bestnaija.com/

Conclusion?
Everything I said so far lies in the right attitude, the right information, and the right expectations. Keep these 3 A-I-E in mind, also remebering that 'No risk, no reward; the greater the risk, the greater return.'
So, develop more confidence, beleive in yourself that you can make it, and happy entrepreneurship!
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- an energetic young man whose shy demeanor conceals in him a steel-trap mind of tremendous intellectual capacity and force....

(4 Likes)   0jay, eMade, Erudite, Xplicit liked this topic.
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#2 » by bomboy » April 25th, 2011, 10:12 am

Cool. Everybody is afraid of throwing their life savings into the ocean, dats where the fear coms from. :?

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Emi gangan l'emi!

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#3 » by Excelsior » April 26th, 2011, 4:47 pm

Our banks will kill your young business with high interest rate on loan. :what:

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#4 » by Edge » April 29th, 2011, 6:49 pm

Even tho its easier said than done @poster, thank you still for the inspiration. Mwah!

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#5 » by ramata » May 13th, 2011, 5:48 am

I started a good small business of sales and supplies of fabrics from the north actually, with my small savings, but all my debtors killed my business by not paying as at when due. What can I do? Should I stop giving credit totally?

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#6 » by andru » May 15th, 2011, 6:03 pm

ramata wrote:I started a good small business of sales and supplies of fabrics from the north actually, with my small savings, but all my debtors killed my business by not paying as at when due. What can I do? Should I stop giving credit totally?

You sure know better.

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#7 » by NiceGuy (m) » May 30th, 2011, 2:38 pm

@poster, i always enjoy your posts. U are very realistic. Thanks, and keep it up.

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Lasting #Change is a gradual process...

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#8 » by andru » June 20th, 2011, 1:17 am

Pleae how can i invest 4oo thousand effectively? bank rates are low interest rate

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#9 » by hot » August 2nd, 2011, 5:10 am

I love this post. I keep reading it over and over again. Good job! God bless

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#10 » by Yehmmy (f) » January 1st, 2012, 6:34 pm

Well said. Good work.

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If your enemy is hungry, show him Mr BIGGS!

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#11 » by afHTML » February 24th, 2012, 10:22 pm

Good research. We need more...

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#12 » by Ana2 » January 9th, 2013, 11:47 am

i enjoyed this. bravo :clap:

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#13 » by J0E (m) » October 25th, 2013, 8:12 am

For how to raise business startup capital, I recommend this post at how-to-raise-start-up-capital-for-business-t8851.html
Cheers.

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Humility is the first true attribute of a great man...

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#14 » by TheOvert » March 25th, 2015, 7:49 pm

Great post from a dynamic entrepreneurial mind.

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#15 » by ItuGlobal » February 25th, 2016, 9:59 am

The greatest stumbling block is instant-gratification mentality.

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Buy and sell Perfect Money/Payeer/Epay/Neteller/Skrill: http://www.ituglobalfx.com.ng

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#16 » by Leady » February 26th, 2016, 1:57 pm

well done bro!

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one with GOD is a majority

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#17 » by Etc » October 29th, 2016, 8:01 am

Good one boss. Keep more coming.

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#18 » by Hotsaint » April 8th, 2018, 10:50 pm

amazing post

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Amiable. Diplomatic. Always ready to help others... via 07087398541.

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#19 » by Kivan » April 30th, 2018, 10:09 pm

Very useful post, thanks!

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