1. High Pricing

It’s very tough today in the business world, due to market changes, fluctuation of income and evolvement in customers’ and clients’ demand. Setting prices is first and very important in shaping your customers’ request and dictating the success of your business. Entrepreneurs should caution themselves in order not to set prices too high as it could lead to shortcomings in areas of intended buyers. In other words, ensure your product doesn’t cost more than of your competitors’, to help you stay in line with the entire target market policy.

2. You Don’t Have a Specific Income Goal

Before going into business, take your business idea and create structure and a strategy to follow. That is, try to define your ideal customers, the location best suited for your products and target audience. Setting income goals is fun and endearing because it challenges you to make your business profitable.

3. Poorly Priced Products

Although, it is very challenging to come up with prices for your products, but it’s not an impossible task to accomplish. First, conduct a market analysis to get a better understanding of your clients’ and study your competitors’ to know what they charge for such products. This is because setting a low price for your goods could yield to plenty of buyers patronizing you, but what’s the essence of making many sales without profit in return? Hence, set your product prices at per with others and create a friendly relationship to spur your customers’ to enliven their interests into making more buy. Furthermore, you can carry out a customer survey and analyze thembefore incorporating the ideas garnered into your business.

4. Nonexistent Online Presence

Taking your business online is a one-way method to make enough money as you reach out to a wider range of audience. Remember, your product is mostly what differentiates you from your competitors. Take your product to a platform you think matches the exact product you wish to show the populace. You could utilize Instagram to display quality images and short videos of your products to a potential audience as well. For strictly on videos, try making YouTube your best bet and so on. Every business has a platform it suits most as online space provides a wonderful platform for both big and small businesses to thrive and strengthen their brands. Endeavor to create a strong business relationship by using the power of social media and stand out from the crowd.

5. Low Turnover

There could be many problems leading to slow or low turnover. You might have reviewed and analyzed your business severally without knowing where the actual problem is coming from. Your issue may be that you’re not making the volume of sales you need to be due to poor quality of a product or related issues. Also, think of how the audience perceives your point of sale to project completion. Are you too slow? Is your customer service friendly enough to make angry customers completely easy?

Incorporate these ideas or steps into your business to help you make enough profit and also to enable your product become more efficient.

PatrickOkunima:
Do you know any other reason (s) that could prevent a business from making enough money? Kindly contribute.

PatrickOkunima:
Do you know any other reason (s) that could prevent a business from making enough money? Feel free to contribute.

Kokoebapluse:
. Yes I can call myself business man. I just want to share little Idea I get.

Last year December. I wish to start a business, and I choose recharge card selling business, I don't have money, but I have only just #1000. I fist look around and observe which network have high population in my area so that the card can start selling fast? So I bought mtn# 100 5 pices, Airtel #100 5 pices. Only and I start telling people that am selling recharge card, sometime if they ask card that I don't have or a very big card I will said it has finished should I give them in pieces? Some will agree some will reject. As time going people keep asking for card. The card keep growing but still the profits is not enough. So am tirsty of high profit. So I went and borrow money 15k from relative. From there my business increase and more profit. Now my card business worth 25k without held anyone 1kobo.

What I observed in business how much you put in business will determine profit sometime.

And first figure out what you really want from that business and have record for that business and separate record for what you really want in your business and don't joke with small money all money is big, no small money, and profits record is very important because without profit record that business will seem so dull to you and you may not enjoy it. But have record and set goal for your business, bro business sweet,


As I am now from my experience with my card start up. I believe I can sell anything with little lost or no lost at all.

chisophia:
I make and sell baby dresses. Please I need clients. Location is Lagos

chisophia:
I make and sell baby dresses. Please I need clients. Location is Lagos

Naanlong01:
Business isn't easy at all especially when you are just starting, meanwhile am having a challenge in my barbing business just in case anybody here can help with ideas. Less than a year i started this barbing, and my closest competitor started about 3months earlier and clearly dominates this environment (north) while am a westerner and can't speak hausa. Its just the two of us i even have musical gadgets which he doesn't and my shop is better in term of set up, yet he's always busy while am always sitting down for most part of the day. I'm tired, i need help.

Kokoebapluse:
. Yes I can call myself business man. I just want to share little Idea I get.

Last year December. I wish to start a business, and I choose recharge card selling business, I don't have money, but I have only just #1000. I fist look around and observe which network have high population in my area so that the card can start selling fast? So I bought mtn# 100 5 pices, Airtel #100 5 pices. Only and I start telling people that am selling recharge card, sometime if they ask card that I don't have or a very big card I will said it has finished should I give them in pieces? Some will agree some will reject. As time going people keep asking for card. The card keep growing but still the profits is not enough. So am tirsty of high profit. So I went and borrow money 15k from relative. From there my business increase and more profit. Now my card business worth 25k without held anyone 1kobo.

What I observed in business how much you put in business will determine profit sometime.

And first figure out what you really want from that business and have record for that business and separate record for what you really want in your business and don't joke with small money all money is big, no small money, and profits record is very important because without profit record that business will seem so dull to you and you may not enjoy it. But have record and set goal for your business, bro business sweet,


As I am now from my experience with my card start up. I believe I can sell anything with little lost or no lost at all.