When going into a business,newly and with small capital.Which part of d business do u think, in your

own opinion i should pay more attention on.

I think all parts are mutually dependent on each other. This means you should not disregard any part of your business, if you want to succeed.

Analyse your market: the people who you'd expect to buy from you.
Analyse your product and ensure it meets and surpasses expectations.
Assess your competition thoroughly. Leave no stone unturned!

.NET

Customer service and relationship.

The accounting / finance, HR, Marketing, IT and inventory management etc can be outsourced. However, for a small business, outsourcing CSR is not so good, you need to relate directly with your customers, hear their feedback and know how well to gauge them when and how to.

versatility in personal skills and objectivity in analysis.

u need more of customer buyer behaviour

If you must be a successful Business fellow, you must Study the business 1st, the environment, ethics of the people, people involve in the business, try to analyze their strength and weakness and juxtapose it to your skill and ability, define the business period of having shape or incubating, then if you are satisfy with your founding; you can then invest in it, one love and God bless Nigeria!

Dont ever make the mistake of borrowing money from your business capital to settle your personal needs. It crumbles the business. My 10kobo

he is right[img]http://2.s07.flagcounter.com/count/DymW/bg=E6E6E5/txt=E6E6E5/border=E6E6E5/columns=1/maxflags=1/viewers=3/labels=0/[/img]
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1. Marketing- How do you get the services or goods to be bought by the target audience in good steady flow.
2. Personnel Management - If you are going to work with a few employees it will not be easy to get the best from them.
3. Cash flow Management - How do you manage the flow of revenue. Decisions like, whether to buy more advertising or pay for a new office equipment will face you as a starting businessman.
4. Cash Crunch - Chances are you may be down on cash flow especially when business is not moving well. How do you overcome that?

http://nairabrains.com/category/business/

Its obvious by some of your replies that many of you havent a clue, there is a big difference between what you study in a text book and the real world my friends

1. Financials - You can do biz with negative figure, but you can't do biz without cash. Control your cashflow. if it ceases, your biz dies.
2. Customers - since customers bring you income, put a great effort into getting them and keeping them. it is called selling or marketing.
3. Information -  Go for all the info you can regarding your biz. Best practices, competitons, partners, stakeholders, etc.
4. your self. Transfrom yourself into the ideal person in the field of your endeavour. People do biz with you cos they like you. Many people bring their, i-don't- take -no -mess nature into biz or i -don't- lose- an- argument attitude. it won't do u any good.
4. the list is endless.

just start with the  4 above. Some one said, never try to make all the money in a biz deal, if you are in the habit, you won't have many biznesses

focusxo4:

When going into a business,newly and with small capital.Which part of d business do u think, in your

own opinion i should pay more attention on.

Nothing to fear just employ an igboman as d manager

^^^^ very true(mike) esp in Naija . I ve learned my lesson big time!!(books dont work there)

one word: Cash-flow.

You can have all the ideas in the world; if you don't relate the idea properly with your cash-flow, it will flop.
all new entrepreneurs learn this late in the game.

Financial Discipline.

Answer: Opportunity cost.

Never jump at a major decision with your limited resources. Weigh the short and long term benefits of every move and only settle with informed priorities.

moderator pls.put my post on

1. Financials - You can do biz with negative figure, but you can't do biz without cash. Control your cashflow. if it ceases, your biz dies.
2. Customers - since customers bring you income, put a great effort into getting them and keeping them. it is called selling or marketing.
3. Information - Go for all the info you can regarding your biz. Best practices, competitons, partners, stakeholders, etc.
4. your self. Transfrom yourself into the ideal person in the field of your endeavour. People do biz with you cos they like you. Many people bring their, i-don't- take -no -mess nature into biz or i -don't- lose- an- argument attitude. it won't do u any good.
5. the list is endless.

just start with the 4 above. Some one said, never try to make all the money in a biz deal, if you are in the habit, you won't have many biz

//

Speaking form experience of a business owner:
1. Staffing/HR: The fastest way to kill a business is to work with the wrong team or a drastically demotivated team.
2. CSR: Customers expect that all their questions, requests and problems should be resolved immediately. They actually expect to be worshiped and your customer support has a role to play in making sure they are satisfied.
3. Cash flow: Cash, cash, cash. If you run out of cash, you're half dead or perhaps dead but not buried.

stildude:

1. Financials - You can do business with negative figure, but you can't do business without cash. Control your cashflow. if it ceases, your biz dies.
2. Customers - since customers bring you income, put a great effort into getting them and keeping them. it is called selling or marketing.
3. Information -  Go for all the info you can regarding your business. Best practices, competitons, partners, stakeholders, etc.
4. your self. Transfrom yourself into the ideal person in the field of your endeavour. People do business with you cos they like you. Many people bring their, i-don't- take -no -mess nature into business or i -don't- lose- an- argument attitude. it won't do u any good.
5.the list is endless.

just start with the  4 above. Some one said, never try to make all the money in a biz deal, if you are in the habit, you won't have many biz

ahh! it's better to get things done by oneself.

what makes the most important the most important is that the most important remains the most important, capital is the most important. Always add to your sales no mater how small, listing to your customers comments and made where are not perfect.