Sunday, October 4, 2020

How I Made 10 Million Naira Without A Company - AgricQueen

A Nigerian youth, an entrepreneur shares a story on how she made 10 Million Naira without a Company or product. Read her story below. I hope this motivates you.

She wrote:

Fresh out of Caritas University Enugu, I started TRADING CATTLE. I found myself in Gumel( the Nigeria/ Niger border), Kastina, Maigatari, Katagun, Azare, and Pastikum.

We will load 16 tire trucks with 34 cows From northern Nigeria to Port Harcourt, Bayelsa, and Delta. It was 2011 and politicians had just won elections and were giving their constituents and chiefs Christmas gifts. I sold a total of 275 cows that year with 19 mortality. After paying everyone, I counted my money.

Trading is an important part of this entrepreneurship stuff. I was first a trader, I learned where to invest, when to invest, and when to move from seasonal sales.

In 2012, I lost 70% of my capital and that experience hardened me, I bought 80 cows too early and didn't have the market to sell.

READ ALSO: FMARDPACE - 75000 Enumerators To Be Train As Agric Extension Workers

Young Politicians were given those jobs as compensation for their election efforts. Someone took 35 cows and gave me a bounced check.

I spent soo much on feeding 80 cows, I sold at a loss after borrowing from my mother and sister.

In 2013, My Dad said "if u want to do Agriculture, u must go and learn the ropes", I traveled from Dubai - China -Ghana. From keffi, Adamawa, Ibadan, Benin Edo, I self-taught myself. I saw the mistakes of others.

Then I ran into Mr. Dangote and he said something that changed My entire life! He said “To be a rich person, you must find a product/service to sell every day! He said if I made 100,000 naira a day in profit that at the end of the year I would have made 35,000,000 naira.

I started looking for products to sell DAILY. I planned Daily Sales of EGGS - 6,500 layer birds =200 crates, I built 2 poultries in 4 years. CatFish - 20,000 capacity. Broiler Birds - 4,000 capacity. Cockerell - 3,500 capacity. Goat 22-1 50 capacity. Fields (I hate planting)-10 hectares. I had to discipline myself.

READ ALSO: How To Apply For Nigerian Youth Investment Loan (NYIF)

After we developed farm products we face the challenge of poor market segmentation, price inconsistency, and spoilage. The future of agriculture I realized belonged to farmers who participated in the entire Value-Chain.

Ella’sFoodBank was started in November 2019 and by March 2020, coronavirus happened and Ella’sfoodbank is gradually becoming a household name and we are building a processing plant to package farm produce in Abuja.

I have edited and left out some parts of my story. I pray u find some encouragement.

By AgricQueen (Chimdilbeawuchi)

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