Before you start a business, consider this things. I have come to realize the reason why so many businesses fail in Nigeria within the first three years. Doing business anywhere in the world is not easy but the challenges differ country by country. In Nigeria in particular, our problem lies with overhead. These new businesses are not able to carry all of the burden we put on it, e.g; rent for home and office, salaries, utility bills for home and office, logistics, just to mention a few. I will really not blame us but give advise just as i have advised myself as an entrepreneur. Let's take a look at this two example:Salary Earners vs Business Owners 1) Salary earners run the above expenses in one way 2) A business owner run such expenses in two ways (home and office) What we can do, is to have another source of revenue that can take care of the other expenses for the next 2years. As a business owner, for the next 2years, do not earn salary from the company let alone pay other expenses from it. It will crumble if you do except your income is really high every month. Another key area to look at is MARKETING. you must advertise this company on a daily basis. Start the company with a marketing department even if it is just one staff. TO BE CONTINUE... WATCH OUT!
Powered by Blogger.
Most Popular
-
The Queen just made history with this milestone Share on Facebook Share ...
-
Stc30 is a Stem Cell Super Care. All natural.
-
What one thing will you do to change the lives of mechanics in Nigeria if you could? Foreign Mechanic Vs Nigerian Mechanic ...
-
Superlife Stc30 is a natural dietary health supplement that is taken sublingually i.e. applied under the tongue (enabling 95% of its nu...
-
The above images shows you the daily lifestyle of those long gone whom we refer to as our fore fathers. I don't think there is anythi...
-
Tempting Yummy Breakfast- TASTE So Good! Ingredients 2 Eggs 1 ½ Table spoon liquid Milk...
-
5 Healthy Breakfast Meals You Will Love As important as having breakfast is, not everything should make it to the...
-
Time for Bed: Accelerated Signs of Aging Linked to Lack of Rest ...
-
6 Reasons Why Plantain Is A Healthy Choice For You Do you love plantain? Whether fried, boiled, grilled or e...
-
Experts agree that hand washing is the best way to avoid infections. However, based on studies, around 56 percent of adults...
Before you start a business, consider this things. I have come to realize the reason why so many businesses fail in Nigeria within the first three years. Doing business anywhere in the world is not easy but the challenges differ country by country. In Nigeria in particular, our problem lies with overhead. These new businesses are not able to carry all of the burden we put on it, e.g; rent for home and office, salaries, utility bills for home and office, logistics, just to mention a few. I will really not blame us but give advise just as i have advised myself as an entrepreneur. Let's take a look at this two example:Salary Earners vs Business Owners 1) Salary earners run the above expenses in one way 2) A business owner run such expenses in two ways (home and office) What we can do, is to have another source of revenue that can take care of the other expenses for the next 2years. As a business owner, for the next 2years, do not earn salary from the company let alone pay other expenses from it. It will crumble if you do except your income is really high every month. Another key area to look at is MARKETING. you must advertise this company on a daily basis. Start the company with a marketing department even if it is just one staff. TO BE CONTINUE... WATCH OUT!
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Tiny Device Allows You To Track Your Car Using Your Smartphone Have you ever lost y...
-
What one thing will you do to change the lives of mechanics in Nigeria if you could? Foreign Mechanic Vs Nigerian Mechanic ...
-
The Queen just made history with this milestone Share on Facebook Share ...
-
This argument often left soured taste for reasons best known to the male gender. Abeg, why do they always think they need more money tha...
-
"For all those who love Banga like me, am sure you would be proud of the inventor if you get to extract your Banga juice with a little...
-
A Namibian woman dressed like this to a mall. Be honest, what will you do if you bumped into her in a mall?
-
HOW I MOVED FROM ZERO TO HERO. The Residual income System That Completely Changed My Life You see, 5yrs ago, January 24t.h 2015 I had a terr...
-
Experts agree that hand washing is the best way to avoid infections. However, based on studies, around 56 percent of adults...
-
Understanding Why Nutrition is Important Understanding Why Nutrition is Important Nutrition, according to the Oxfo...
category
- Books (1)
- Business (1)
- Fashion (1)
- Health & Food (14)
- Innovation (2)
- LifeStyle (5)
- natural dietary health Suppliments (1)
- natural medicine (1)
- Parenting (1)
- Personal Development (3)
- Podcast (1)
- Politics (3)
- Robbing Minds (9)
- Stem Cell (1)
- superlife drug (1)
- superlife stc30 (1)
- superlife Suppliment (1)
- Technology (2)
- Youtube Video (1)
Social Share
Total Pageviews
popular
-
The Queen just made history with this milestone Share on Facebook Share ...
-
Stc30 is a Stem Cell Super Care. All natural.
-
What one thing will you do to change the lives of mechanics in Nigeria if you could? Foreign Mechanic Vs Nigerian Mechanic ...
-
Superlife Stc30 is a natural dietary health supplement that is taken sublingually i.e. applied under the tongue (enabling 95% of its nu...
-
The above images shows you the daily lifestyle of those long gone whom we refer to as our fore fathers. I don't think there is anythi...
-
Tempting Yummy Breakfast- TASTE So Good! Ingredients 2 Eggs 1 ½ Table spoon liquid Milk...
-
5 Healthy Breakfast Meals You Will Love As important as having breakfast is, not everything should make it to the...
-
Time for Bed: Accelerated Signs of Aging Linked to Lack of Rest ...
-
6 Reasons Why Plantain Is A Healthy Choice For You Do you love plantain? Whether fried, boiled, grilled or e...
-
Experts agree that hand washing is the best way to avoid infections. However, based on studies, around 56 percent of adults...
Nicely said. But like u pointed out.. It depends on were one is.for example. If u are in ibadan were having a house and office falls under 400,000 naira. In lagos dat is just ur rent alone!
ReplyDeleteWell noted.
DeleteBut if you do start your own business avoid the pit holes!