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3 Advantages Of Starting Small As An Entrepreneur - Business - Nairaland

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3 African Tips For Starting Small & Growing Big In Your Business & Career / 16 Reasons You Should Be An Entrepreneur And Own A Business / 5 Benefits Of Being An Entrepreneur (2) (3) (4)

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3 Advantages Of Starting Small As An Entrepreneur by mantosa(m): 8:40am On Feb 20
Doing business has its ups and down, one must be equipped with the required skills, experience and resilience before plunging fully into it in order to help minimize the risks involved. It is a fact that many aspiring entrepreneurs have recorded big losses as a result of wrong assumption, little or no experience and poor business management skills.

The smart choice when starting out as a first timer in business or venturing into a new field is to thread with caution by starting with small investment and committing greater efforts into the success of the business, this way one will be able to learn the ropes quicker, garner the right experience and study the possible challenges.

Here are three advantages of starting your business on a smaller scale:

Experience

The nature of customers that one deals with, demand and other factors that control how successful your business can become has to be scrutinized and understood before the decision of investing huge capital in a business. At this stage, many successful entrepreneurs all over the world have succeeded in building strategies and also modifying their products/service to suit the larger market by carrying out careful studies and gathering better information for better decision making.

Cost management

Starting out small sometimes helps prevent losses that may arise from inexperience, poor decision making and inadequate knowledge of one’s potential market. It is not an easy task to recoup large investment when the best measures are not put in place to achieve high standard product/service quality and meet sales targets.

Better positioning

When loopholes are identified and success strategies are properly employed in order to meet goals and objectives, a business stands a better chance of growing easier. That is, an entrepreneur who starts small can identify the challenges in his business and equip himself for the best opportunities.


Source: http://tushmagazine.com.ng/advantages-starting-small-entrepreneur/

cc

Lalasticlala

9 Likes

Re: 3 Advantages Of Starting Small As An Entrepreneur by anitasoll(f): 9:08am On Feb 20
I agree with the pointers you shared in your post. If you are the kind of person who cannot afford to lose money in a business, it is a much better idea to start small. However, either big or small, one must commit and work hard to make the business successful. These days, people are getting interested to start an online business because of the advantage of working from home and time and financial freedom it provides. grin

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Re: 3 Advantages Of Starting Small As An Entrepreneur by veekid(m): 6:25pm On Feb 20
Burst my brain
Re: 3 Advantages Of Starting Small As An Entrepreneur by CirocBoi(m): 6:25pm On Feb 20
This pautex guy wen dey below me head nor correct...... Whats funny? If i should give u a dirty slap now!!!!! Are you mad?
Re: 3 Advantages Of Starting Small As An Entrepreneur by pautex: 6:26pm On Feb 20
I want start an online biz but does not know the where withal on how to proceed.
Re: 3 Advantages Of Starting Small As An Entrepreneur by Edge1(m): 6:27pm On Feb 20
We all need capital, whether u want to start as an entrepreneur or not.

Over to the guy below me
Re: 3 Advantages Of Starting Small As An Entrepreneur by sped1oro(m): 6:28pm On Feb 20
start small to grow big.......


And that's what my signature says......
Re: 3 Advantages Of Starting Small As An Entrepreneur by cnonyechi(f): 6:31pm On Feb 20
started my business smale after 4 years of learning and mastering the trade. just want to take a loan now to go higher dont know how wise dat is anyway
Re: 3 Advantages Of Starting Small As An Entrepreneur by mikebrown92: 6:31pm On Feb 20
you can also do ponzi to start from scratch
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:31pm On Feb 20
Despise not the day of little beginning.

3 Likes

Re: 3 Advantages Of Starting Small As An Entrepreneur by MrMoney007: 6:32pm On Feb 20
No time for humble beginnings. The tide is too high, the challenge is tough. Source for funds and boom

2 Likes

Re: 3 Advantages Of Starting Small As An Entrepreneur by petkoffdrake2(m): 6:32pm On Feb 20
Nice one!



Neglect not the days of your little beginnings.. ..

1 Like

Re: 3 Advantages Of Starting Small As An Entrepreneur by dodelight(m): 6:33pm On Feb 20
As an entrepreneur, I totally agree with all those points. Starting small really helps in managing market dynamics. Of a truth, when I handle my production and role out my products, I feel like a king.

2 Likes

Re: 3 Advantages Of Starting Small As An Entrepreneur by Etihadstore: 6:40pm On Feb 20
Exactly my point

My signature for more
Re: 3 Advantages Of Starting Small As An Entrepreneur by dfrost: 6:45pm On Feb 20
Nice points op. Can't wait.
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:48pm On Feb 20
cnonyechi:
started my business smale after 4 years of learning and mastering the trade. just want to take a loan now to go higher dont know how wise dat is anyway
go ahead and take the loan dear
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:49pm On Feb 20
4stepsAead:
Kante wins the ball from Messi, pass to Alonso, Alonso gets past Roberto with a quick sprint, passes to Hazard who back heels back to Alonso, He crosses it into the 18 yard box, Giroud with a power header... GOALLLLLLLLLLLLLL

And its a Chelsea 1 - 7 Barcelona
���

1 Like

Re: 3 Advantages Of Starting Small As An Entrepreneur by muchroom(m): 6:58pm On Feb 20
Failure is not the opposite of success but a part of it.
Re: 3 Advantages Of Starting Small As An Entrepreneur by WHIZKIDEFE(m): 7:22pm On Feb 20
GBAM!
Re: 3 Advantages Of Starting Small As An Entrepreneur by Elfaris(m): 7:31pm On Feb 20
Hello guys, Episode2 of ZUMA is out. Seems like the old folks in the small village aren't as they look. Check out how Komla and Simphi find out. http://typicalstorie.blogspot.com.ng/2018/02/zuma-episode-2.html?m=1
Re: 3 Advantages Of Starting Small As An Entrepreneur by majekdom2: 7:47pm On Feb 20
is there any entrepreneur that starts big... except for the ones that stole
Re: 3 Advantages Of Starting Small As An Entrepreneur by BIXYBABE(f): 8:14pm On Feb 20
Okay
Re: 3 Advantages Of Starting Small As An Entrepreneur by fleps(m): 8:23pm On Feb 20
MrMoney007:
No time for humble beginnings. The tide is too high, the challenge is tough. Source for funds and boom

After you go boom, two years down the line you go kpuuf like olx and Efritin
Re: 3 Advantages Of Starting Small As An Entrepreneur by TheAlchemist: 10:15pm On Feb 20
cnonyechi:
started my business smale after 4 years of learning and mastering the trade. just want to take a loan now to go higher dont know how wise dat is anyway
,

If your projected monthly revenue is in excess of the monthly loan repayment, then why not, i will prefer you source the loans from friends and acquaintances.

1 Like

Re: 3 Advantages Of Starting Small As An Entrepreneur by kestino(m): 5:08am On Feb 21
cnonyechi:
started my business smale after 4 years of learning and mastering the trade. just want to take a loan now to go higher dont know how wise dat is anyway
i may forget every other thing my lecturer thought me in school, but i will never forget what he told me personally "NEVER EVER BORROW MONEY TO START A BUSINESS"

1 Like

Re: 3 Advantages Of Starting Small As An Entrepreneur by florakims(f): 6:02am On Feb 21
kestino:
i may forget every other thing my lecturer thought me in school, but i will never forget what he told me personally "NEVER EVER BORROW MONEY TO START A BUSINESS"

What was his reason?
Re: 3 Advantages Of Starting Small As An Entrepreneur by Raiders: 6:11am On Feb 21
kestino:
i may forget every other thing my lecturer thought me in school, but i will never forget what he told me personally "NEVER EVER BORROW MONEY TO START A BUSINESS"
I partially agree with your statement. however she is not starting a business. her business is 4 years old so its not starting a business. there is nothing wrong in taking out a loan to grow a good business as long as the interest is not too high and the loan can easily been paid OFF

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