Thursday, 17 December 2009

Maybe Not Teaming Up...Call it: INVESTING IN OTHERS!!!

Hey peops, in continuation of my post:teaming up, I got intelligent responses from Aloted,Myne Whitman,Enkay,Spesh(My World), Leggy and GNG
What I was made to understand is that as much as teaming up sounds nice, it may actually be a very dangerous and income wasting adventure...
May be I called it the wrong name then 'cos what I meant was investing in another person's business...
for instance if my friend Jane has a great business idea and she's done the maths and it adds up to profit, if she needs money for this venture of hers, and I have it, then I will invest in her based on:

1.Integrity...what I mean is, I need to know how Jane's character is, will she swindle me at the last minute? Will she lie to me about the profit that has been made in other to reduce my dividend? ...When she says good morning is it actually 9pm by the clock? will she kill me?...okay that i s extreme but it happens...at least you get my drift?
2.Viability of the project/Business...If Jane says "oh I have a great idea and it involves selling freezers to Eskimos" and I totally know that Jane cannot even sell a book to students to save her life, then I'll be tew stewpeed to invest in that project...

3.Turn around time + X (X being unknown!
How long will my money be tied down for? After an intelligent guestimation(Forecast) of the time it'll take for her to turn this business to a cash cow, I'll do well to add some Xyears...not because I'm a pessimist but because I know that lyfe happens...and I really want to be prepared as a girls' scout for whatever!!!

4. Instinct...I don't know how to explain this...but in making some key decisions, you either feel peace or unrest within you...I don't ignore this...and the times I did ignore, I got burnt badly!!!

So people what I mean is, I don't have to be your business partner, as a matter of fact, I think that could even slow the profit making and service giving process...do your thing your way...just ensure it makes impact...Am I making sense to you...yet?

GNG's Response is soooo apt that I have decided to put it up verbatim!!!...
Good Naija Girl said...

I think greed keeps some from teaming up. They think they will lose, not realizing that 5 people committed to a cause can do more than 1 person, which would lead to a greater profit (financially and otherwise) per person.

8 comments:

My World said...

Now,I can understand that, plus I like that your point out the main xtics to look out for....
Sounds good to me!
But most times,I try to dwell more on X cos its somewhat easier when you loose than when you win.
Meaning, invest and dont flock around too often,if you do, then yoor a patner........

bArOquE said...

not sure what you're expecting us to say...you seem to know what you need to know before you invest your lean pay in someone else's business...BE WISE sha

Good Naija Girl said...

It's definitely important to think about these things before making the decision to get involved. I would be more likely to invest my time and money jointly with someone doing the same as opposed to investing my money alone, but if I ever change my mind I would consider those things you wrote.

And thanks for the shoutout...I can't remember if I've ever shared an example of the greed I'm talking about on my blog, as shown by my two uncles, who are twins no less. Hmm, I'm going to check and if not, it'll be my next blog entry!

Nice Anon said...

I think for the most part humans are greedy and will continue to look out for noone but themselves. Which is the reason most business ventures don't survive. Just keep your eye open sha

Myne Whitman said...

You've made some good points I guess. Bottom line is that this is a choice some of us have to make and we need to be careful in doing so. Thanks for detailing it like this, appreciated.

Enkay said...

Instinct for me is so fundamental!

I've been at a point where I didn't listen to my instincts and I know not to ever do that again.

It sure is better to err on the side of caution.
All the best girl!!

aloted said...

yes u r making sense!

Uzezi said...

intergrity counts alot