He was loaned N2M immediately after his NYSC. He used the entire money to start a poultry farm. He has never worked in a poultry farm before. He had zero experience. He was only moved by stories and mere chats and discussions amongst friends, about how lucrative poultry business is.
After getting the funds, he immediately called carpenters. With wood and roofing sheets, they constructed a room for 400 birds. He cemented the floor, wired the place, bought the drinkers and feeders, and brought in egg-laying poultry birds.
All in less than a month. He was to feed them for 18 to 20 weeks before they’ll start laying. After 10 weeks, the birds started dieing. It was coccidiosis. The diseases really took a toll on the farm.
Over half of the birds were gone! When the vet finally came, it was too late.. only a handful of the birds survived. Of course there was no money left at this point.. summarily, it was a failed venture. He was forced to disassemble the structure and sell the roofing sheets and wood to service the loan. He sold them at much lesser prices of course. Two years now, he is still paying his debts.
Dear Young Entrepreneur,
Knowing HOW TO INVEST is best learnt in the course of starting small.
When scientists carry out tests/experiments, they make use of very small samples in the lab. What really matters to them is the CONSISTENCY of the result.
Every business venture is like an experiment. The fact that everyone you know, is succeeding in a particular business doesn’t guarantee that you’ll succeed when you venture into it.
Even when you have the resources at your disposal, putting it all from day one, is never the best decision. An African proverb says, “only a fool tests the depth of a river with both feet”
START SMALL. Fall. Rise again. Learn. And keep growing in knowledge and experience.
That desired capital will come at the right time. And when it eventually comes,…..#smiles
© Stephen Teru
