What if you actually hired employees (vs family)?
Again, only asking bc it was actually suggested itt that one could split their time.
Could you share some?
Im trying to weigh risks (and being shamed for doing so), in order to, you know,
do this like an adult, not like nas at the end of belly.
I have employees , I would only ever employ my immediate family , and maybe one or two of my extended family , basically all my brothers and sisters run their own things which is why I just have employees ...
The problems with hiring family is basically
They are incompetent
They are dishonest
Ive never had that issue but Ive invested money and done deals with extended family members knowing I would lose my investment , lost tons of cash but at all times I just looked at it as I was giving them money , because I knew what would happen
Bureaucracy is a nightmare , once you have to start dealing with government departments you would understand what Hell is , literally something that should take 30 minutes can take two weeks .... The solution is either to know someone or to bribe someone , gets done extra fast
Bottom line if you are dealing with government departments you are going to have to bribe someone at some point
I remember the last time me and my brother were building two apartment blocks , usually we have a building manager that would be on the site and my father would would pay the builders salary , pay for materials etc.. anyway this particular project at the time my brother was based in the UK , the apartments were supposed to take about 8 months to complete , so I said to him one of us should always be at the building site, so he would spend a month out there then i would spend a month, the airline tickets were roughly $1000-$1500 a month , and literally it was a case of getting to the site in the morning and sitting on a chair or in the car with a laptop , the building manager dealt with everything , anytime we needed to buy materials , cement , paint etc, I would go to the market and buy them And even adding the costs of the tickets , we saved a ton of money , a ton of money
we saved a ton of money on building materials , which I knew we would
Ghana is a calmer business environment , Nigeria is like the wild wild west , but there are a lot of similarities
First get a lawyer before you spend a penny , find one that will be able to advise you step by step in whatever documentation you may need for whatever you want to do Trust me bureaucracy is a nightmare
Dont invest in any company or business idea , I get tons and tons of business proposals etc... A lot of them are good ideas , but because I know I wont have ultimate control , I just think nah
And dont get me wrong You can make a ton of cash but unless you are really certain it may not be worth the risk
Wherever you want to move to , before you make any plans visit there as much as possible , every possible vacation so you really get to grips with the culture , there will always be a large expat community and make sure you make links with some of them , they will know exactly the difficulties you may have in transitioning and they will tell you what to avoid and what not to
The business culture is very different and If you suffer from high blood pressure I suggest you take plenty of medication , If you suffer from a temper get a good lawyer because you will kill someone
In saying all of that if you handle your business you will make a ton of money