Be Wise When Starting A Business - Business - Nairaland
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| Be Wise When Starting A Business by ebamma(m): 11:24am On Apr 22, 2012 |
i was looking around my street today,and i came to realise that in this small street of ours like 10 people are selling the same thing(sweets,cigarettes,toiletries,drinks,bread etc),are was kind of baffled how the all of them can make a good profit with so much competition.Sometimes this is one of the main reasons u will see someone doing business for 10 years or more without being rich.If u want to start a small business,the location should be considered,if u have more than one or two competitors in a particular location,search for a new location |
| Re: Be Wise When Starting A Business by ebamma(m): 11:27am On Apr 22, 2012 |
ebamma: i was looking around my street today,and i came to realise that in this small street of ours like 10 people are selling the same thing(sweets,cigarettes,toiletries,drinks,bread etc),i was kind of baffled how the all of them can make a good profit with so much competition.Sometimes this is one of the main reasons u will see someone doing business for 10 years or more without being rich.If u want to start a small business,the location should be considered,if u have more than one or two competitors in a particular location,search for a new location |
| Re: Be Wise When Starting A Business by brainchild78(m): 11:40am On Apr 22, 2012 |
success in any business is not always down to the location or competition but rather it is down to effective and strategic planning. |
| Re: Be Wise When Starting A Business by Richardid: 2:20am On Apr 23, 2012 |
Your choice of location is part of the strategic planning. LOCATION is a key factor to a successful business. |
| Re: Be Wise When Starting A Business by cordj2: 4:47am On Apr 23, 2012 |
Having competition in business helps. take a look at spare parts shops, they often concentrate in one location, its a strategy to bring/attract customers, one is always sure that whatever he/she is looking for, after going through a couple of shops he/she would find it. The selling point in this situation is good customer relationship, how u attend to your costomers |
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