Don't look at it, it just a matter of time

Don't envy it, pray to God, do friendly with customers

Your own food will surely come,

oyelekeabo:
Good morning family. My name is Oyeleke. I have a degree in Accounting but due to lack of job, i have a computer center where I print, scan and make photocopy, but recently someone opened a big shop with state of the art equipment in my area and splash the price where people are now rushing to. Please I need a good Samaritan to help me improve my business also so that I can put food on the table for my wife and two kids. Thanks

You did not specify your location. Yoi might need to relocate to another place where your services will be needed. Likely a place where there are no business centres. When you do and find your feet, please reinvest. No machinery is too expensive.

Jaqenhghar:

The problem with most people in Niggeria is they open business to make money then pose and show others that they have arrived.

wait, i dont get u

So how is it related to the problem op is having??

OlawaleBammie:
wait, i dont get u

So how is it related to the problem op is having??

Its actually related to what you posted.

oyelekeabo:
Good morning family. My name is Oyeleke. I have a degree in Accounting but due to lack of job, i have a computer center where I print, scan and make photocopy, but recently someone opened a big shop with state of the art equipment in my area and splash the price where people are now rushing to. Please I need a good Samaritan to help me improve my business also so that I can put food on the table for my wife and two kids. Thanks

You have two options either u get a loan to improve urs or diversify by get ur business to another area I.e have another branch or u add more services to urs but that won’t help because what ever u do he can do too.
The Nigeria system doesn’t protect service renders right so not to sugar coat either u improve urs or my pick get a new branch some where. Either way u need loan
Note am not saying u should leave that spot but am saying opening another branch somewhere. Ur competition have challenges u which u have to respond by ignoring u will loss customers n share the profit one to two n d Sharing ratio well ur guess will be as good as mine

Cut throat competition

oyelekeabo:


Thanks. I have done that also but need to buy a Direct Image Printing Machine to remain relevant in that business..
Thanks for your advice

If you have done all of that an sale's still remain poor,seek for loan from your bank to finance that

Jaqenhghar:

Its actually related to what you posted.

pls enlighten me more, how is it related to my submission??

go and work for the new guy and earn from him learn modern arts from him,save from the salary he pays you and then build a bigger business than his........we are all hustlers in this shithole mehn

An Already Designed Freelancer Website Like Fiverr Available For Sale

The world is a digital world , getting various streams of income isn’t a bad one . In view of this having a freelancer marketplace as part of your investment isn’t bad especially in a digital sphere where people work remotely. With proper marketing , patient and advert to should be able to build the next big marketplace for either Nigerians or the world

I have a an already designed website that functions exactly like fiverr/freelancer for sale . For review and inspection. Kindly contact me let us talk


Doubting ? I’m a Verifed business strategist and developer on nairaland. See this thread

https://www.nairaland.com/5297774/thread-meant-customers-review-testimony

iHart:
Due to lack of job you created a job for yourself. So you now have a iob.

The help you need, is it to match his big equipment and reduce price too?

You see price discount? That have killed many businesses in Nigeria. Many think they can use price discount to penetrate the market. When they penetrate the market, how do they sustain the market. Immediately they revert to sustainable price, all their customers will run. Bros relax, he will fail. Just persevere.

@ the bold, typical NIGERIAN always wishing others bad, why wishing the other person bad ?

He may be a breadwinner to his family as well and he put food on the table for his family.

oyelekeabo:


Thanks. I have done that also but need to buy a Direct Image Printing Machine to remain relevant in that business..
Thanks for your advice

How much will this machine cost?

How much revenue will you get every month if you buy this machine?

Any small thing, some people will rush to tell you to enter crypto currency as if it's ABC.

Odiegwu.

OlawaleBammie:
pls enlighten me more, how is it related to my submission??

So you don't know what you wrote again?

Jaqenhghar:

So you don't know what you wrote again?

did i say the reason i want to start up a business is because I want to do show-off??

Who do I want to impress??

Lemme even burst ur brain, non of my family members or friends, even my gf knows my financial worth, only my oga knows.

My relatives, including my parent don't even know where I am living and I don't do social media like u guys, so who do I want to impress??


My village people are currently online so I need to go offline small kpele

iHart:
Due to lack of job you created a job for yourself. So you now have a iob.

The help you need, is it to match his big equipment and reduce price too?

You see price discount? That have killed many businesses in Nigeria. Many think they can use price discount to penetrate the market. When they penetrate the market, how do they sustain the market. Immediately they revert to sustainable price, all their customers will run. Bros relax, he will fail. Just persevere.

best advice, you are really a business man or woman.

Ok

oyelekeabo:
Good morning family. My name is Oyeleke. I have a degree in Accounting but due to lack of job, i have a computer center where I print, scan and make photocopy, but recently someone opened a big shop with state of the art equipment in my area and splash the price where people are now rushing to. Please I need a good Samaritan to help me improve my business also so that I can put food on the table for my wife and two kids. Thanks

Bros, I try to keep emotions out of business because I am a business man too. If you are looking to compete with the fella who is trying to run you out of business, I can join with you, if the incentive is right. We fail when we inject emotions into our business. I am married too and I have four kids. Good luck sha!

Grace001:


@ the bold, typical NIGERIAN always wishing others bad, why wishing the other person bad ?

He may be a breadwinner to his family as well and he put food on the table for his family.

I am a business person and I have first hand experience on what I said. I am not wishing one to fail and another to survive, just that in Nigeria if you slash price to enter market, you have already created your path to failure. Businesses that slash price to penetrate the market do not survive if there is nothing different they are doing except the price slash. The only reason you may survive is if the price slash is sustainable to you. Now what that means is that you are forcing other businesses to go back to their drawing board and find out ways to reduce price and still remain sustainable. The best mindset to have when starting a business is to gain your own market share and not to compete with other businesses. If you want to compete with price slash, then know that you will have to maintain the flag with low price. If the low price is not sustainable, bye bye to you!!!

Do some research to see how customers use your service, what they wish your service did, and what problems they have with it. Also, research the problems customers have with the competition.

Hopefully, you can:

-make inexpensive improvements
-offer new, inexpensive services
-expand your business

Don't simply try to copy your competitor. And don't think it's all about how much money you spend. Sometimes just treating your customers well or like a friend goes a long way.

iHart:
Due to lack of job you created a job for yourself. So you now have a iob.

The help you need, is it to match his big equipment and reduce price too?

You see price discount? That have killed many businesses in Nigeria. Many think they can use price discount to penetrate the market. When they penetrate the market, how do they sustain the market. Immediately they revert to sustainable price, all their customers will run. Bros relax, he will fail. Just persevere.

You really know it, I use to tell Freshers this, even if you reduce your price to nothing who no want, no want chikina. And to get customer is diff, to keep them is diff too. OP just be nice and friendly to ya customer and see the majic.

Bahose:
best advice, you are really a business man or woman.

I do business and I have seen these things. About three years ago when I started pushing my products to the market, big distributors of established brands slashed price to drive me aware. I just maintain my stand with my price. We played this game for over two years. I can tell you that the two major distributors iny market have approached me. One boldly told me that she wants to buy all my products and shop and then I leave the market for her. After that encounter, I employed a sales rep and left the market. I hardly show face there again, ...before someone will use juju and kill me. Hahaha

okenwa101:


You really know it, I use to tell Freshers this, even if you reduce your price to nothing who no want, no want chikina. And to get customer is diff, to keep them is diff too. OP just be nice and friendly to ya customer and see the majic.

That's just the truth. As a business person, in as much as you are fighting to get plenty customers, try to identify those who are loyal to you or have the tendency of being loyal. Relate with those ones in such a manner that they will begin to see themselves as stakeholders in your own business. Nothing, and I mean nothing, will make them stop patronising you

Add other things that'll draw in customers to your shop...sell stuffs, gadgets, etc

iHart:
I am a business person and I have first hand experience on what I said. I am not wishing one to fail and another to survive, just that in Nigeria if you slash price to enter market, you have already created your path to failure. Businesses that slash price to penetrate the market do not survive if there is nothing different they are doing except the price slash. The only reason you may survive is if the price slash is sustainable to you. Now what that means is that you are forcing other businesses to go back to their drawing board and find out ways to reduce price and still remain sustainable. The best mindset to have when starting a business is to gain your own market share and not to compete with other businesses. If you want to compete with price slash, then know that you will have to maintain the flag with low price. If the low price is not usustainable, bye bye to you!!!

I dont think you and many others commenters here understood the competition OP was talking about. He stated it clearly reason he could not competes with his new competitor.

Contrary to your prediction, the person might not fail simply because he has sophisticated machines that can probably produce better and at cheaper rate. Op cant reduce his price because he does not have the same equipments that can produce at cheaper rate like his competitor. If he dare to, he would run out of business.

The above were the rason he was looking for assistance.

Hope una get it now.

oyelekeabo:
Good morning family. My name is Oyeleke. I have a degree in Accounting but due to lack of job, i have a computer center where I print, scan and make photocopy, but recently someone opened a big shop with state of the art equipment in my area and splash the price where people are now rushing to. Please I need a good Samaritan to help me improve my business also so that I can put food on the table for my wife and two kids. Thanks

You are going tru a new sheriff syndrome, everybody wants to taste the new guy
Now find the little ways in which you can improve, customer care, pricing, delivery time...e.t.c

Sooner or later your new competitor will adjust his one price upwards that’s if your own price wasn’t exhorbitant in the beginning, rush in, rush out, some will come back just try to be consistent for them and improve

You need to remain on top of your game to retain old clients or attract new customers. Imbibe new trends in servicing customers within your line of business, adopt new tools to give best results, and with all of this, u need to have the capacity financially, as well as the will power to be a force to reckon with in your niche.

I ventured into my business because of the unwholesome experience I had with a vendor doing this same business and since then, I vowed to do the business and service customers better.

Today, many people help me market my business because of the top notch services I render as well as my "low to gravity" prices. This is because I am constantly researching on how to make things better without necessarily depriving myself of profits that are to come with the venture.

Also endeavour to diversify your business and learn new things to add to it. This is very important in a country we live in where the cost of running businesses increases daily coupled with the incessant business-hostile policies churned out by the government frequently to discourage SMEs.

You're competing with a lot but you gotta try your best. I also sense from your post that u need funds but the truth is, unless you have a rich person who is close to you and likes u enough to want to invest in your business, nobody will be willing to help you whether u have a wife and kids or not.

I hope you learn a thing or two from the aforementioned points. The ball is in your court.

HE DON'T HAVE CAPITAL HE NEEDS INVESTORS.....STOP GIVING HIM DUMB ADVISES THAT CAN NEVER WORK IN HIS SITUATION....IF YOU CAN INVEST INVEST IF YOU CAN'T READ COMMENTS AND SEE HOW DUMB YOUR COUNTRY MEN ARE IN LINE OF BUSINNESS AND GO YOUR WAY

Bro your competitor came in and you have two choices

1. Look for capital and upgrade to his machine so you can cut prices....if you cut that price with your present working tools your remaining capital is gone

2. If you wait him out for him to come back to normal price....your capital is gone because it can take 3-6 months are he already had the capital set out for the loss and he must have taken all your customers....most population of Nigerians are poor and poor customers are never loyal they always hunt for where is cheap no matter how good you're to them.


GENERAL ADVICE....A BIG LESSON SUCCESSFUL BUSINESS MEN WILL NEVER TELL YOU IS-: NEVER HAVE A POOR MAN IN MIND SETTING UP YOUR BUSINESS BECAUSE THEY CAN NEVER BE LOYAL....THEY ARE THE FIRST GROUP OF CUSTOMERS THAT WILL LEAVE YOU FOR ANOTHER EVEN IF ITS AS LITTLE AS 1NAIRA DISCOUNT.


IF YOU WANT TO START A BUSINESS AND THEY TELL YOU TO START SMALL WITH THAT LITTLE YOU HAVE.....REJECT IT WITH YOUR ALL, SAVE MORE AND START MEDIUM OR BIG

Everyone trying to outdo the other. Lions

I don't know much about that biz, so I won't advice you on what to do.

I will only comment on a general business knowledge...

In business, you need to be on alert for anything. That is, have plans to take necessary actions in case of situations like this.

Your competitor knows you're in that area, that is why he did what he did.

Judging from what you wrote, it may be difficult to compete with him, since he has machines which you don't have.
Had it been you do, it would have been another thing entirely.

If I advice you to liquidate and venture into another business, it will be as if I am pushing you to quit.
Will you be OK with the little jobs that may be coming or do you have plan of reinforcing the biz with those machines soon?

I have seen people sell below their cost prices just to keep their competitors in check.
Note, those people receive rebate, gifts etc., which in the long run they are still making profit and this is mostly done by those that buy directly from companies, those that own the building where their businesses are located.

yemmit90:


I dont think you and many others commenters here understood the competition OP was talking about. He stated it clearly reason he could not competes with his new competitor.

Contrary to your prediction, the person might not fail simply because he has sophisticated machines that can probably produce better and at cheaper rate. Op cant reduce his price because he does not have the same equipments that can produce at cheaper rate like his competitor. If he dare to, he would run out of business.

The above were the rason he was looking for assistance.

Hope una get it now.

One big problem some business people do not understand is that, though sophisticated equipment may lead to cheaper services and products, but maintenance is far far expensive. When you start, you think you are in business and you price low, when one machine needs maintenance or repair, your brain will reset. I still tell op to persevere. The big business will eventually charge same price with him or even higher than him. Its just a matter of time.

oyelekeabo:
Good morning family. My name is Oyeleke. I have a degree in Accounting but due to lack of job, i have a computer center where I print, scan and make photocopy, but recently someone opened a big shop with state of the art equipment in my area and splash the price where people are now rushing to. Please I need a good Samaritan to help me improve my business also so that I can put food on the table for my wife and two kids. Thanks

only God can help you ooo.

I had a bet shop last year where I spent over a million naira to posh up and business was moving fine. Suddenly someone rented a a very big flat opposite me and spent over 3 million to set the place up. All my customers left and I ended up closing the shop oo



May God help you sha