My neighbor uncle lost his job recently and wants to consider setting it up, but is it still lucrative?

In the Lagos area, its highly Lucrative

Mizwisdom:
My neighbor uncle lost his job recently and wants to consider setting it up, but is it still lucrative?

Every business that was lucrative before is still lucrative now, once there is still a high demand for the good or service. If you want to enter any business, never have the mindset of most people "there is a business out there that once you open you start picking money like you planted money tree in your backyard. Every business you see people making big cash in, there are some closing shop because it is failing them. Same way every business you see many people closing up shop for but there is still demands, there are others smiling to the bank.
If you want to venture into businesses do your home work very well, research do business plan, try follow your plan and above all be really really resilient.

Ferdinandu:

Every business that was lucrative before is still lucrative now, once there is still a high demand for the good or service. If you want to enter any business, never have the mindset of most people "there is a business out there that once you open you start picking money like you planted money tree in your backyard. Every business you see people making big cash in, there are some closing shop because it is failing them. Same way every business you see many people closing up shop for but there is still demands, there are others smiling to the bank.
If you want to venture into businesses do your home work very well, research do business plan, try follow your plan and above all be really really resilient.

Thanks your contribution. It's not my business idea though. As for me I've dabbled into many businesses recently but only one seems to be working effortlessly, it makes me feel like they're particular businesses meant for certain people because all the ideas I've exploited has been done in the same location and for that one it's effortless. This is a business that I have watched many people close shop due to failure.

Is it really about business plan? I doubt most uneducated people have time to do business plans yet their businesses survive even more.

Lagosfinder:
In the Lagos area, its highly Lucrative

Thanks

Mizwisdom:



Thanks your contribution. It's not my business idea though. As for me I've dabbled into many businesses recently but only one seems to be working effortlessly, it makes me feel like they're particular businesses meant for certain people because all the ideas I've exploited has been done in the same location and for that one it's effortless. This is a business that I have watched many people close shop due to failure.

Is it really about business plan? I doubt most uneducated people have time to do business plans yet their businesses survive even more.

There is no question about formal education here. You don't have to write it down for it to be a business plan. It is about the do's and don'ts of your business. It is about the extent you have to go to make your business succeed. It is about how you are going to prospect for clients, it is about how you are going to make your business different from your competitors, it is about how you are going to leverage on your street smartness to compete with already established competitors.

Ferdinandu:

There is no question about formal education here. You don't have to write it down for it to be a business plan. It is about the do's and don'ts of your business. It is about the extent you have to go to make your business succeed. It is about how you are going to prospect for clients, it is about how you are going to make your business different from your competitors, it is about how you are going to leverage on your street smartness to compete with already established competitors.

You're sounding like a motivational speaker I've been there and done that, there are some businesses that doesn't just favor one. There's a business I started but it failed for the fact that I'm female. It required a lot of mental imput and guys just didn't believe in me despite the fact that I had proven record of success, the one that's working for me now is dominated by female customers. When we say business is difficult for guys it's even worse when one is a female