babino22:
Remove that your number 1, go and ask those successful business owners if they are working according to their business plans. Most of the times the wind of change will just change the plans for you and you get to take immediate decisions out of your business plans. Business plans most times is just to get investors or together loans or sponsors most of the times.

hayzed1090:



Honestly people over emphasize on the importance of a written business plan

deso80:
Franktalk1 well done. what other advice can u give one starting up a palm oil mill?

FrankTalk1:


I get your point, but having a business plan does a lot of good to your start-up business. A business plan is more than a loan seeking tool. It is important at all stages of your business. It is the road map for your business journey. A business plan helps you to check the feasibility of your business ideas, helps you to know your mission and business objectives, helps you to surmount the discouragements encountered during business start-up stage, helps you to set and track milestones for your business, helps you to evaluate your business financial needs and help you to seek for funds needed for the business, helps you to properly understand your target market, helps you to understand your competition and how you can add uniqueness to your brand in order to beat them and a lot more.

Nigeriadondie1:
Bros leave this matter. Businesses in Nigeria fail because of the shiithole environment that exist in the shiithole country.
Here are d following reasons businesses fail:

1.Poor infrastructure:
Lack if critical infrastructure has made running business a daily nightmare. For example, how wud d fishseller, patent medicine sellers who needs light to preserve delicate medicines at low temperature or business person who deals on perishable items not experience losses that wud wreck business. Alternatives to power are expensive increasing costs of products, reducing it affordability and eventual sales. Use of generators have negative environmental inpact in terms of air pollution and noise.
Bad roads which increases time for the movement of goods and labour frim a point to another knowing fully well time na money. Vehicles breakdown on bad road which results in costly but avoidable breakdown.
Water they say has no enemy. Many parts in the shiithole Nigeria ve nwver experienced water supply from d govt which is critical to every business.
Therefore, these and many more creates a harsh environment inimical to growth of any business.

2. Multiple taxation
We all know as disorganized as other facets of the Nigerian society is d tax system. If u are shop owner or small business owner you would understand hiw some idiots would come often to forcefully extort money for reasons that leaves u dumbfounded. The mist annoying thing is that the individuals used to collect these taxes are thugs who are not fit to do such apart from using violwnce and intimidation of business owners to reap them off their hard earned sweat. These monies end up in the pockets of these fruadulent tax collectors and the other part remitted to govt is embezzled.

3. Poverty:
When u have a larger percentage of people who are poor and do not have the strong purchasing power then u re bound to have low patronage or at best forced to give out on credit some of which may never be paid cos the means is not there.
Until wealth is evenly spread to all so all can have mobey in their pockets to spend if u like be a Harvard business trained graduate, tou would fail.

My advice to Nigerians, the national aseembly both the senate in particular and the house of assembly are the destroyer of this nation for failing to enact laws to guarantee good governance and effective, transparent tax laws and they are milking this nation by taking billions each year for fraudulent constituency projects which is never executed. Remember 25% of our budget is spent on these bastards. Only we forget easily former CBN Governor Lamido Sanusi proved it when he was summoned by last national assembly. This increases cost of governance whoch should have been channeled into capital projects to develop our infrastructure. The legislature have no business financing projects. Even each of the 36 states all have their state houses of assembly which all constitutes a hugh drain on our budget.
Nigerians wake up, even if all collect PVC to change a new set of leaders nothing would change as long as we do same thing over and over we get same not different result.

Nigeriadondie1:
Bros leave this matter. Businesses in Nigeria fail because of the shiithole environment that exist in the shiithole country.
Here are d following reasons businesses fail:

1.Poor infrastructure:
Lack if critical infrastructure has made running business a daily nightmare. For example, how wud d fishseller, patent medicine sellers who needs light to preserve delicate medicines at low temperature or business person who deals on perishable items not experience losses that wud wreck business. Alternatives to power are expensive increasing costs of products, reducing it affordability and eventual sales. Use of generators have negative environmental inpact in terms of air pollution and noise.
Bad roads which increases time for the movement of goods and labour frim a point to another knowing fully well time na money. Vehicles breakdown on bad road which results in costly but avoidable breakdown.
Water they say has no enemy. Many parts in the shiithole Nigeria ve nwver experienced water supply from d govt which is critical to every business.
Therefore, these and many more creates a harsh environment inimical to growth of any business.

2. Multiple taxation
We all know as disorganized as other facets of the Nigerian society is d tax system. If u are shop owner or small business owner you would understand hiw some idiots would come often to forcefully extort money for reasons that leaves u dumbfounded. The mist annoying thing is that the individuals used to collect these taxes are thugs who are not fit to do such apart from using violwnce and intimidation of business owners to reap them off their hard earned sweat. These monies end up in the pockets of these fruadulent tax collectors and the other part remitted to govt is embezzled.

3. Poverty:
When u have a larger percentage of people who are poor and do not have the strong purchasing power then u re bound to have low patronage or at best forced to give out on credit some of which may never be paid cos the means is not there.
Until wealth is evenly spread to all so all can have mobey in their pockets to spend if u like be a Harvard business trained graduate, tou would fail.

My advice to Nigerians, the national aseembly both the senate in particular and the house of assembly are the destroyer of this nation for failing to enact laws to guarantee good governance and effective, transparent tax laws and they are milking this nation by taking billions each year for fraudulent constituency projects which is never executed. Remember 25% of our budget is spent on these bastards. Only we forget easily former CBN Governor Lamido Sanusi proved it when he was summoned by last national assembly. This increases cost of governance whoch should have been channeled into capital projects to develop our infrastructure. The legislature have no business financing projects. Even each of the 36 states all have their state houses of assembly which all constitutes a hugh drain on our budget.
Nigerians wake up, even if all collect PVC to change a new set of leaders nothing would change as long as we do same thing over and over we get same not different result.