Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.

another industrial age thinker speaking in the age of information. sir I admire your sound argument which is sounds good logically but the fact remains that entrepreneurship is the key to sustainable development.

dearpreye:


That's true.....Unfortunately if they must achieve their dream success, they must try even in the face of fear. Their passion must be greater than their fears. When people aren't too sure of their lives and purposes, then fear and uncertainty step in.

At the moment, I've identified some business I'm willing to risk in come 2016. And I'm currently doing all the feasible studies. I'm willing to risk failure BUT 2015 is the LAST YEAR of living paycheck to paycheck. I'm willing to FAIL.

sorry to digress but i need your help.

I need some practical step on how to get rid of bad habit.

Thank u!

Nihilist:


You are an undergraduate working 7hours a day, 6 days a week...

Are you actually studying at all?

Anyway, all you've done is tell me that you are running a successful business. I don't know how true it is, but congratulations all the same.
You must remember that just because a business is running smoothly for you doesn't mean it's the same for everybody else out there...

He should be a part time student.

How I wish fellow Nairalanders can take their time to read and digest these hard truths. I'd always believe in entrepreneural developments for Nigerians to live healthy, wealthy and satisfactorily.

Nihilist:


You haven't at all.

By your own admission, you still live at home to cut costs; which leaves me to wonder what other aspect(s) of your business are subsidised.

Judging by your profile picture and all the other things you mentioned, I don't think I'll be wrong in assuming that the capital for your 'business' wasn't self-generated.

I may well be wrong...but I seriously doubt it

8k a day works out at just under 200k. Without any idea of what margin you're working to, your initial layout, and your deviation from projected income, it's difficult to even gauge if your 'business' is actually successful.

Not that I care,mind.

Like I said earlier, if indeed you're telling the truth about your so called business, then congrats to you. My point wasn't that you cannot be successful as a Nigerian businessman. My point was that the OP failed to acknowledge the inherent risks and cash flow problems of entrepreneurship especially at that level, when promoting those kind of businesses over paid employment.

yeah i get your point ,it wasnt self generated but they are lots of youth who have capital at their disposal and yet do nothing.

adegeye38:

what you just typed is all bullshit, my mum makes close to 200,000 as a level 15 officer working on a govt job that an average of 6000 per day if divided by 30 and 10000 per day if divided by 20 but the monthly 200,000 remain dsame, and she works 7 hours daily monday to friday

Now I, as an undergraduate i work in the transport business and i earn an ever sure 8000 naira per day after paying my assistants and working for around 7 hours also 6 days a week, and due to the fact that i still live with my family i tend to save each moneyvi make per day in the bank, that about 50000 per week, and about 208,000 per month and my monthly earnings have never been less than195,000 per month before and am in full control of my business and i earn more than my parents who have been working in the civil service for about 25 years.

Nigeria is a gold mine graduates and youths arent just willing and always myopic to see it they are thousands of ways to make it without waiting or looking for a white collar job around.

Speak for yourself and not others!

Need higher wages?? Learn to be a Smooth Criminal

vislabraye:


Good point you have made. Transportation business is lucrative but capital intensive. But government workers get other pecks too which includes runs.

yeah, but you can start with about 250000 and start earning about 100,000 to 150,000 monthly if u work hard

Dis kind of things dats got me scared...education a'int IT no more...I better go get me some skills or find me my talent(hw do I do dat..m clueless right nw)

xtreme07:
sorry to digress but i need your help.

I need some practical step on how to get rid of bad habit.

Thank u!

I'll send you a detailed PM message. I'll be sharing very practical and personal details with you. It's possible.

One is the most inspiring post I have read shared with my colleagues and they loved it thanks

Gud write up OP, I am a mobile police coperal collecting 46k 4rm federal govt, tank God I was able 2 starve mysef & save some money 4rm my salary & my allowance 4rm d bank I was attached to, then took loan 4rm bank & bought a faragon bus, 2day I make between 8-10k daily. Dats like 5times my salary

Nigeria with a population of about 170 million the business opportunities are endless.........

folks4luv:

And if 70% of doctors have there own hospital, 80% of lawyers have a law firm, 60% of teachers are consultants, how will they cope? Where is d balance?

Health, building, legal and education are huge sectors that can be financially rewarding to hardworking, knowledgeable, informed and bussiness savvy professionals. 70% of the professionals in those sectors can never be entreprenuers nor bussiness savvy,

sniper1305:
Gud write up OP, I am a mobile police coperal collecting 46k 4rm federal govt, tank God I was able 2 starve mysef & save some money 4rm my salary & my allowance 4rm d bank I was attached to, then took loan 4rm bank & bought a faragon bus, 2day I make between 8-10k daily. Dats like 5times my salary

exactly, bussiness men and entrepreneurs rule, this country needs more men with wisdom like yours

Oh! Wat kind of bus or car are u gonna buy wit 250k

adegeye38:


yeah, but you can start with about 250000 and start earning about 100,000 to 150,000 monthly if u work hard

sniper1305:
Gud write up OP, I am a mobile police coperal collecting 46k 4rm federal govt, tank God I was able 2 starve mysef & save some money 4rm my salary & my allowance 4rm d bank I was attached to, then took loan 4rm bank & bought a faragon bus, 2day I make between 8-10k daily. Dats like 5times my salary

Can you imagine? I really love your story though it's Bert short. LOL! I'm particularly impressed with your saving habit. Good one there.

I am not against entrepreneurship even if I believe it is not for everybody, but one problem I have against this write-up is that the op assumed that all business owners have a steady income, which is not true. The revenue from business fluctuates-having extremes highs and lows. For instance, as a business owner, there might be days when you might make up to 500 k in a week and there might also be days in which you might go for three straight months without a single dime. I am sure the op didn't take this into consideration before posting this. Most people preach entrepreneurship (without the pros and cons), but not everyone is meant to toe that path-some people are meant to get paid employment too. Anyways, kudos for the effort you put into this write-up-just the effort only, and not the content of the write-up.

Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.

it is your choice the OP is spot on. Go and work jejely for a hustler who created the work for u thoroughly! The bank employee works for the banker who owns the bank. Now who is d boss? It is boxed mentality to assume jejely that waking up by 5am and getting back by 8pm is jejely earning. Do that for yourself with same commitment and over same period u will be a better success! Wake up!

folks4luv:

And if 70% of doctors have there own hospital, 80% of lawyers have a law firm, 60% of teachers are consultants, how will they cope? Where is d balance?

Adam Smith called it Invisible Hands. Leave the balance issue to the Invisible Hands. The market always balances itself. Some persons are more comfy being salaries earners than being risk takers. That's the balance.

sniper1305:
Oh! Wat kind of bus or car are u gonna buy wit 250k

you can get a fairly use saloon car between 250,000-300,000

sniper1305:
Gud write up OP, I am a mobile police coperal collecting 46k 4rm federal govt, tank God I was able 2 starve mysef & save some money 4rm my salary & my allowance 4rm d bank I was attached to, then took loan 4rm bank & bought a faragon bus, 2day I make between 8-10k daily. Dats like 5times my salary

That is a smart move by you, if you are disciplined, consistent and have honest drivers your fleet of buses will grow geometrically.

tuniski:
it is your choice the OP is spot on. Go and work jejely for a hustler who created the work for u thoroughly! The bank employee works for the banker who owns the bank. Now who is d boss? It is boxed mentality to assume jejely that waking up by 5am and getting back by 8pm is jejely earning. Do that for yourself with same commitment and over same period u will be a better success! Wake up!

You can work hard at your own business in Nigeria with due diligence and still fail spectacularly. Nigeria is not conducive for starting and running a business. My post is merely explaining how people prefer the certainty and relative safety of a monthly paycheck to the uncertainty of striking out on your own in the badlands of Nigeria.

Do you own a Nigerian business? Did you find setting it up, funding and running it as simplistic as the OP portrays?

Bros nt realy advisable, I am a public servant and also into transport biznes, d 1st bus I bought almost made m 2 regret venturing in2 d busines buh I neva give up, iv 2 sell it out den rearrange mysef, buh 2day..... Glory b unto Jah

adegeye38:

you can get a fairly use saloon car between 250,000-300,000

The hard truth as you put it failed to address some pertinent issues on entrepreneurship and being a business owner. While it may appeal to the "9am to 5pm" salaried worker who wishes to escape from the humdrum he experiences in his work it is however important to note that a lot of business just struggle to get by , a large percentage of businesses fail within a year of start up and it is not because of financial mismanagement. In an ailing economy such as ours ( and for most parts of the world ) it isn't as easy as the writer puts it and even the wheel barrow guy has to contend with "issues" in his line of work. What about downtime ? For some businesses , even the small ones , a lot of downtime is experienced , there are days within weeks where sales is not made , it isn't as easy as you put it. Most of the comments I read on the first page of this thread are not from business owners or entrepreneurs and may get their hopes dashed in the event of going solo but struggle we must. I'm not against anyone trying to break free and attaining financial freedom on his own but you must have it at the back of your mind that "e no easy".

Stop misleading people oga. The write up is spot on. Don't be a june12 man

Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.

gunners160:
Hmm,this is indeed captivating and an eye opener. ABEG MAKE TOPIC LIKE THIS DEY MAKE FRONT PAGE AND NT ALL THOSE TOPICS LIKE: Davido and Olamide who rock the mad jeans beta,Davido sips kunu b4 going to a meeting,Tonto Dike kisses her gay husband etc.Internet should be a positive source of information and not all for all those nitwit topics.

ROTFL @Davido sips kunu

SACI:
Dis kind of things dats got me scared...education a'int IT no more...I better go get me some skills or find me my talent(hw do I do dat..m clueless right nw)

As am I

my guy i love ur write up but i have so little adjustment to do. first as a government worker u work for only 20 or 21 days and the secondly govtment works spended 8 to 12 hours in works and if u compared to those u made mention of... u see dat they work almost six to six to earn those money..... and they work all days .thanks

MrReeseG:

As am I

So wat do we do..?

Nihilist:
This article is so wrong I dont even know where to begin

1. The average employee typically works a 5 day week or roughly 20 days in month. I completely disgree with the premise of the OP's dubious calculations, but even if the calculations were grounded in some sort of logic, shouldn't the OP be dividing by 20 instead of 30?

2. The OP also misses the point by comparing an employee and his steady income to Hawkers,Truckers etc with their irregular cash flow. Again I doubt the veracity of his stats with regards to the earnings of hawkers, truckers and co, but even if the stats were true, The OP still fails to consider that even though the Hawker could earn 2000 Naira in a day, he/she is not guaranteed an income of 120k per month unlike the Banker

The crux of the OP's assertion is Business Owners have the potential to earn more than employees. The OP fails to consider the level of risk that these entrepreneurs are exposed to.

For the vast majority of people, it is better to go to work and be guaranteed your 300k monthly salary jejely, than to go and out hustle with no true knowledge of when the next paycheck is coming.

Nawa4u oo,op has jst told u d bitter truth,if lik kip putin on ties nd b sitin in an office wich u dnt knw wen it wil close down.