₦airaland Forum

Why does it seem everywhere you turn, small businesses are closing across Africa. Yet the Lebanese and Chinese are still running their malls and marts. What do they know about running a small business that we don't?

In this video, everyday Nigerians share their experiences running their businesses from beer parlours to shoe stalls to defunct cafes. They explain the kind of debt you should avoid, how to deal with jealousy from your peer competitor and how to avoid the greed that commonly plagues business relationships. If you need wisdom for today and hope for tomorrow, I highly recommend you listen till the very end.


https://www.youtube.com/watch?v=U48DKuadQvI

Why African Businesses Fail.

you can thank me later.

Dimaya:
Why does it seem everywhere you turn, small businesses are closing across Africa. Yet the Lebanese and Chinese are still running their malls and marts. What do they know about running a small business that we don't?

In this video, everyday Nigerians share their experiences running their businesses from beer parlours to shoe stalls to defunct cafes. They explain the kind of debt you should avoid, how to deal with jealousy from your peer competitor and how to avoid the greed that commonly plagues business relationships. If you need wisdom for today and hope for tomorrow, I highly recommend you listen till the very end.


https://www.youtube.com/watch?v=U48DKuadQvI

Why African Businesses Fail.

Thank you for this

interesting

Dimaya:
Why does it seem everywhere you turn, small businesses are closing across Africa. Yet the Lebanese and Chinese are still running their malls and marts. What do they know about running a small business that we don't?

In this video, everyday Nigerians share their experiences running their businesses from beer parlours to shoe stalls to defunct cafes. They explain the kind of debt you should avoid, how to deal with jealousy from your peer competitor and how to avoid the greed that commonly plagues business relationships. If you need wisdom for today and hope for tomorrow, I highly recommend you listen till the very end.


https://www.youtube.com/watch?v=U48DKuadQvI

Why African Businesses Fail.

Very insightful takes on sustainable business growth.

XAUBulls:
Very insightful takes on sustainable business growth.

Really? What did you find insightful about it

Dimaya:
Really? What did you find insightful about it

How's it going?

I've known these for years now, but the fantastically done video posted on this thread and the discussants featured just re-inforced the specifics in very simple and clear terms. The male anchor too is calm, very eloquent and well-dressed.


1. Formality and due diligence... You have to get a professional business name and register your business so as to access quality funds at lower interest rates.

2. Second you have to draw up a comprehensive business and sales plan and ensure that the small business (or business of whatever size) has a large demand for it's products and/or services in order to be able to turn up good profit margins and repeat customers (which is the primary purpose of being in business in the first place).

If you don't have good profit margins after taking into consideration the type of products and services you are going to offer (and the overhead costs or cost of production) in order to find solutions to existing challenges, then it's much better to STAY OUT and just remain an investor in the financial markets. A physical bricks-and-morter business isn't for everyone!


All the best.

XAUBulls:
How's it going?

I've known these for years now, but the fantastically done video posted on this thread and the discussants featured just re-inforced the specifics in very simple and clear terms. The male anchor too is calm, very eloquent and well-dressed.


1. Formality and due diligence... You have to get a professional business name and register your business so as to access quality funds at lower interest rates.

2. Second you have to draw up a comprehensive business and sales plan and ensure that the small business (or business of whatever size) has a large demand for it's products and/or services in order to be able to turn up good profit margins and repeat customers (which is the primary purpose of being in business in the first place).

If you don't have good profit margins after taking into consideration the type of products and services you are going to offer (and the overhead costs or cost of production) in order to find solutions to existing challenges, then it's much better to STAY OUT and just remain an investor in the financial markets. A physical bricks-and-morter business isn't for everyone!


All the best.

This was spot on!

Merry Christmas everyone

debt. greed and jealousy.

intersting

just finished this. interesting conversation.

following