Everyone wants to make money in Nigeria and those who have made money want to make more money. It is in the process of achieving this aim that many have been burnt. Today we will be reading the painful experiences of others who have had bad experiences in investing. The aim is to learn from their mistakes so you don’t make the same!
Investment Mistakes & Experiences to Avoid
I bought 2cars to do Uber business in 2016. All they did was to be given different stories about how business was bad and all. I ended up selling them as a give away price.
Yemmie
Bought a 15 tonne truck to start a trucking business for 5.6m. I dint make 1 naira in 12 whole months thanks to terrible thieving drivers. Sold it for 1.5m in March 2020 and put the money into 5 stocks: Apple, Tesla, Amazon, Shopify and Peloton. My 1.5m has doubled in October while I DIDN’T HAVE TO MOVE A MUSCLE.
Motley
I joined an agro investment last year, which had been working for my colleagues. Unfortunately, when it got to my turn, stories started coming up. Simple ugu farming turned to “we want to make ugu serum”, “we are trying to sell the ugu serum”, etc. Corona virus finally worked out for them as they declared force majeure. Owo wogbo
Blessing
The one time i did MMM…. Gbagam… The company pack!😭😭😭😭😭 My chest! Remain small heart attack but for Jesus!
I invested about 6million into a Frozen food business without proper feasibility, while I still had my 9-5… safe to say it was the biggest mistake of my life. I was only 25, it was all my life savings. Wrong location, Poor management, I felt I had a strong support in Family but I was wrong.
One time I did Swiss golden…. and it took me about 3 months before I finally decided to tie my money down😂. They packed up and never got my money back. I shall never…..!
Shekari
Investing in some useless cryptocurrencies
Ade
Investing in these so called Agro investment and one Miropass like that, all went down the drain.. Have told all them agro investment people to avoid me from now..😣😣😣 Let me stick to my investment banking.
my cousin told me about an investment opportunity, he didn’t tell me it was a ponzi scheme. Immediately I invested, the site stopped opening. We’ll such is life. God will punish all of you @pennywiseinvestments
Innocent
This land matter 😢😢. That’s how hubby bought one too, about 3 years ago. Was given family receipt and all of that, everyone was present at the signing… Laslas, na scam. Anytime he does any single thing on the land, by the next day, someone would have gone to destroy it. Had to advise him to let it go, as painful as it was, as na hin last card he take buy the thing that year. God go do better one
Anthony
Invested in a so called agritech coy called Diary farm investment DFI
have made a couple…. Land purchase, Fish farming with friends( i contributed 90% and yet when we were folding they decided to spilt it 50/50 amongst everyone), Uber biz with a close friend and most foolish one of all MMM…God i have lost millions in this life ooo!💔😞😞😞
Floxy
TAKE AWAY INVESTMENT LESSONS
- Do Your Due Diligence: Find out, do your research- don’t just listen to the opinion of someone close to you. Some of them may mean well but may not know so much. Find out from the experts!
- Every get rich quick scheme is a get poor quick scheme: Read that again! There is no truly sustainable easy and fast way to get rich. If there was , we all would be rich! Building riches and Wealth is a slow yet rewarding process. It’s a marathon not a sprint.
- Learn and fully understand before you do: Before you can earn, you need to learn- whether it is services you are offering people, or it is a new business you are starting or just simply investing
- Test the water (WITH YOUR OWN FEET): And with one feet first. Before going all in- TEST it a little bit!
- Understand your risk appetite- low, medium or high:
What lessons did you learn from the TRUE LIFE stories of these people? Take out time to ponder on it!
