We sit on and around wonderful opportunities that can turn our lives
around and make us the millionaires we eagerly wish for. Quoting Samson
Makinwa, chairman of Techo Quip Ltd, on the Wealth Platform of Vol no 3/09 the
headline reads “it is easy to make money in Nigeria. There is money all over
the streets, yet most people cannot see it”, I can’t but agree with these
sayings.
The first thing you need to have before dabbling into the construction industry is the will, you need the determination to do it, and you must be patient; because it is unlike the other industries where you may have jobs to do throughout the whole year. Though your company could grow up to actually achieve that, but for a beginner, business may not come even for some months before the breakthrough.
The second step is to learn the trade. You can make friends with a contractor or a professional in the field with vast experience that you can understudy and learn from. He may actually be your friend, or a pure professional that you may have to contact and arrange a time to work for him in order to have an idea about how things are run.
The next step after some few months of training or understudying your mentor should be for you to start thinking of registering a company. However, since you are starting with no money down, I will advise you liaise with an established and registered company to work with and write proposals, with this you will make an agreement with the business owner on profit sharing before you can finally stand on your own with your name, and organise your office.
What you should naturally do is to get an office, but your home address could be your office address, or you use a friend’s office temporarily.
Without the job, all the facilities you are running after would be a waste of time and resources, so I will advise you start writing proposals to different companies that may need your services; look for a brother, a church member and other people that could be of help in making sure your proposals pass through the right offices.
Then begin to strongly think of given yourself a proper packaging. I mean people loves to look at things at face value in this part of the world, so you can also meet their expectations by looking very good, and in the right frame of mind when you would be going for a presentation. Wear a suit or a corporate dress well ironed, if possible rent a car with a driver for that day. A man was able to secure a contract of hundreds of millions of naira because he was wearing a Rolex wristwatch he borrowed for a business meeting; same as for car, e.t.c.
The first thing you need to have before dabbling into the construction industry is the will, you need the determination to do it, and you must be patient; because it is unlike the other industries where you may have jobs to do throughout the whole year. Though your company could grow up to actually achieve that, but for a beginner, business may not come even for some months before the breakthrough.
The second step is to learn the trade. You can make friends with a contractor or a professional in the field with vast experience that you can understudy and learn from. He may actually be your friend, or a pure professional that you may have to contact and arrange a time to work for him in order to have an idea about how things are run.
The next step after some few months of training or understudying your mentor should be for you to start thinking of registering a company. However, since you are starting with no money down, I will advise you liaise with an established and registered company to work with and write proposals, with this you will make an agreement with the business owner on profit sharing before you can finally stand on your own with your name, and organise your office.
What you should naturally do is to get an office, but your home address could be your office address, or you use a friend’s office temporarily.
Without the job, all the facilities you are running after would be a waste of time and resources, so I will advise you start writing proposals to different companies that may need your services; look for a brother, a church member and other people that could be of help in making sure your proposals pass through the right offices.
Then begin to strongly think of given yourself a proper packaging. I mean people loves to look at things at face value in this part of the world, so you can also meet their expectations by looking very good, and in the right frame of mind when you would be going for a presentation. Wear a suit or a corporate dress well ironed, if possible rent a car with a driver for that day. A man was able to secure a contract of hundreds of millions of naira because he was wearing a Rolex wristwatch he borrowed for a business meeting; same as for car, e.t.c.
Before the big jobs start coming, be a subcontractor to some major
contractors, our dailies are filled with the advertisement for subcontractors
from big time contractors. Check Tuesday Guardian newspaper and others. The
money you make will help you to stand as a contractor ultimately later on, and
you can be quoting for jobs directly.
Be articulate and bold, you need this if you are going to win any contract.
Find out where to source for equipments before bidding for any project; all projects have their own peculiarities. Do not bid for a project because you are desperate to get a job, else you might bite your fingers at the long run.
Pretend and present yourself exactly the way the client would like to see you and feel about you. The client won’t be happy to know you are a hungry man that needs their money to get out of poverty. He will also not be happy that he is given out a job of a big magnitude to somebody that has not handled a job of that size before. Avoid what will make the client to doubt your competencies.
Use professionals as business partners, and leverage on their expertise; just agree with them on a percentage sharing formula and you are on.
Source for loans from families and friends, especially when there are no interests, or that it is very low; but make sure you are working for an organisation that will pay you in time and that they have a record of prompt payments to their contractors.
Lastly, pray for the success of your projects.
Be articulate and bold, you need this if you are going to win any contract.
Find out where to source for equipments before bidding for any project; all projects have their own peculiarities. Do not bid for a project because you are desperate to get a job, else you might bite your fingers at the long run.
Pretend and present yourself exactly the way the client would like to see you and feel about you. The client won’t be happy to know you are a hungry man that needs their money to get out of poverty. He will also not be happy that he is given out a job of a big magnitude to somebody that has not handled a job of that size before. Avoid what will make the client to doubt your competencies.
Use professionals as business partners, and leverage on their expertise; just agree with them on a percentage sharing formula and you are on.
Source for loans from families and friends, especially when there are no interests, or that it is very low; but make sure you are working for an organisation that will pay you in time and that they have a record of prompt payments to their contractors.
Lastly, pray for the success of your projects.
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