The thing about small scale business is that running them is not a ‘small’ feat at all. People think small scale business and immediately think easy. Well, that is mostly not the case. Small business requires work, a lot of work if there is any hope of making it successful. The major reason why most small business owners fail is that they underestimate the amount of work and strategic planning it takes to make their business succeed.

Here are a few tips that will help you stay in business for a long time;



The business is small scale, not your mind; think big

Most small business owners restrict their creativity and intuition. They are of the opinion that they should think a certain way. Don’t cut yourself short. Don’t restrict your mind. The way to grow a business is to do the unusual; outside the box thinking. Don’t let the ‘small-scale nature’ of the business to box in your mind.

Focus on growing the business before growing the profit



Sounds crazy right? This is the best way to ensure longevity. Work on building a brand first; build a market for yourself. It is very likely that you won’t be making much in way of profit until your business is stabilized. This is why it is best to focus on the business first; the faster the business is established the sooner your profit starts flowing.

A satisfied customer makes for a strong business

The importance of keeping your customers satisfied can never be overemphasized. You need to establish a great customer relationship. Look out for your customer’s best interest. Maintaining a close relationship with your customers is a great way to study the market. Customers feel better knowing or feeling that you care for them; this births loyalty in them.

Don’t stop learning

There can never be enough knowledge. New things, new ideas and new theories come up each day. The market changes every day so you should be abreast with the changes. Try to read; articles, news, and textbooks. Keep yourself updated and you’ll be able to sustain your business.

Division of labor is not such a bad idea

Finances may be tight but there are things you can’t possibly do all on your own. Employ more hands to help out. Having more hands on deck does not only make work faster but more efficient. This is another reason why profits may be hard to come by at first but it can’t be helped. Remember, we are focusing on the business before money.

Stay positive

Positive vibes attract positive results. Of course there are going to be days when you just want to quit; days when you wonder why you thought you could make it. Don’t be daunted by those days. Feel your mind with images of success. Give yourself a pep talk from time to time and keep moving one step at a time.

it is your determination and strategic calculations that will make the difference and keep your business in the running for the long run.

https://nairametrics.com/keep-small-scale-business-running/

OK

The best ways are.

Avoid girls.

Avoid alcohol.

Pray and work hard.

Eat once a day

ok

lemme go an read ok

hmmmm....

Please which state in the north is good to start electronic business, plasma, CD, stabilizer, etc, I am in Minna but I don't like the environment. Please

God first (....if the lord does not build the house, they do in Vain those who build.

1. Pay yourself (salary)
2. do not take out money from the biz (keep recycling)
3. Feed from ur salary
4. always take stock at least every week or 2weeks
5. do not engage in pity party (remember ur biz is not a charity home)
6. Paste this list on the wall, and read every morning

Nice tips there!

nairametrics:


https://nairametrics.com/keep-small-scale-business-running/

Nice one. Thanks

http://www.naijasquare.com/threads/how-to-keep-your-small-scale-business-running-nairametrics.1881/

hmm noted

Ok

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Very Correct

Good

Thanks a lot

ok

Great thread, nice one bro

Good one

how do you employ more hands when there is no money to pay them. the practical is more than what u guyz are saying here. i once had a job as a sch bus driver to support my biz(morning & closing time), now that i concentrate on my biz, there is no more money.

the money made this week, that is not even enf, will be taken by the biz the following week(always broke)

been strugling with the biz for a year now, no money to renew my shop and house rent.

biz no easy oo, i dey find salary woork

Keep proper accounting records

Jaytecq:
God first (....if the lord does not build the house, they do in Vain those who build.

1. Pay yourself (salary)
2. do not take out money from the biz (keep recycling)
3. Feed from ur salary
4. always take stock at least every week or 2weeks
5. do not engage in pity party (remember ur biz is not a charity home)
6. Paste this list on the wall, and read every morning

I love this your analysis.

jtjohn:
I love this your analysis.

when the money is not enuf for the biz, how do u pay yourself. where will it come from. within one year of the biz, u might not make enough to pay yourself

nice one (grow your biz before growing ur profit)

I really needed this. Most importantly Stay Positive!

Good post

Always sweet on paper

You have made some good points but you failed to add avoiding insufficient or ill-timed financing as explained in this article 7 Common Mistakes to Avoid When Borrowing Money for Your Business

please nlanders, wat will it cost me to set up a food business in port Harcourt?

Put God first.

Always taking his instructions about the business.

Don't take step without him.

Pay your corporate tithes

So seeds

Give to the poor.

Be diligent

Watch your spendings

Cut your coat even below your size if possible.

Not for everyone though. For the spiritually minded.

Thanks.