Never put all your eggs in one basket but if you do then shine your eyes well well.  😯

 .

As I promised I would be sharing some of my experiences here the Entrepreneur’s Challenge Category with the hope of motivating would be entrepreneurs and getting seasoned entrepreneurs to contribute.

 .

I run five different businesses: E-learning and Training Centre, Web development and Hosting, Business Centre, Video Gaming Centre and an agent to one of the popular Sports Betting companies in Nigeria. Last month, I had one hell of a roller coaster ride. How? You see, I had just balanced my books for the month and just about to remit my last disbursements to the head office of the sports betting company when just the last day of the month 25 people won over N300,000. My God!  I thought. Which kain wahala be dis one now? 🙄

 .

And just that month we did not have electricity supply for the full month, I had to run on generator and my generator packed up twice, the generator mechanics were having quite a field month with me charging me this and that till I got tired and got the two guys I use separately to sit down together and get my generator fixed. ( I no know wetin PHCN abi na NEPA or what ever it is they call themselves these days are doing). I had to spend over N60,000 fixing my generator.  I never calculate children school fees o! or fueling the car nko , ha!  staff salary still dey ground and taking care of the home and family, you know how Mrs dem dey do, there no wan hear tori). So I was really in short supply of cash.

 .

It was during this ordeal that I discovered that the company I represent would not send any money to their agents unless their account is in the negative and according to them I had so much cash on me  (hmmm…. only if they knew what I was going through). It was then that I discovered that if they “borrow” their agents any amount of money to settle winnings to “our” customers, the agent would have to pay the head office back the money once his account is no longer in the red. (HABA! but una no tell me dis one when I start now 😥   E come dey like say na only me one dey loose for this matta, shuo 😯 . which kain…)

 .

Anyway, if not that I had other businesses that I run I would have been running around like chicken little with my head cut off.

 .

At first I ran into panic mode,  I had to dig really deep and within 3 days I was able to pay off the monies. Phew!! what a relief. I hate embarrassment and I did get a few and had to ban some unscrupulous elements from coming to place bets in my office. (Me I no fit shout.)

 .

But guess what I did after I went through my ordeal 💡 . I had investigate other Sports Betting companies to see their payment plans and so I did and now I am an agent to two of them. ( Due diligence is necessary before you enter any business, never ever enter a business because you see everyone doing it. Ask questions for clarification no matter how silly it may seem.) However, I observed something of a paradox. The new one that I just signed up with had a better payment plan for their agents but found out that 70 % of my customers preferred the former one and that really got me thinking.

 .

I am in business because of my customers and if I had angrily chucked the former, then I would have lost 70% of my customers.

 .

So lesson, in business, never ever put all your eggs in one basket, it is better to have multiple streams of income, however if you put all your eggs in one basket then shine your eyes well well 😯  in order words keep a pair of  infra -red binoculars with night scope vision beamed on that basket.

 .

Hope to keep you posted on more stuff. I would welcome any comments

 .Hope to keep you posted

1,158 total views, 6 views today

Samuel Oritsejimi Iyinbo

Samuel Oritsejimi Iyinbo has been making money online since 2003 as a website designer with over 60 clients and counting, an internet business consultant, serial entrepreneur and spiritual teacher where he disseminates spiritual messages The Roving Messenger. He founded Illumination Concepts’ E-learning Centre and Innovation Hub the Internet Business Academy Nigeria, to share his knowledge and to train people on how to make money online.