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Why Do So Many Small Businesses Struggle With Inventory And Cashflow? - Business - Nairaland

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Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Enochi(op): 12:04pm On Jun 21
One thing I've noticed is that many business problems don't start when filing returns or preparing reports.

They start much earlier.

For example, someone recently mentioned two things:

inventory control, and
cashflow visibility.

And honestly, the two seem closely connected.

Sometimes products are selling, but nobody is completely sure:

how much stock is left,
which items are moving fastest,
who still owes money,
where expenses are increasing,
or even where the cash actually went.

So decisions become reactive.

People start searching through notebooks, WhatsApp chats, POS alerts, bank statements, and spreadsheets trying to reconstruct what happened.

The interesting thing is that this isn't necessarily a sales problem.

Sometimes it's simply a visibility problem.

You can't plan properly if you don't have a clear picture of inventory and cashflow.

As more businesses move toward digital systems, I suspect that having organized records may become a bigger advantage than many people realize.

In your experience, which creates more headaches for small businesses?

Inventory management?
Cashflow visibility?
Customers owing money?
Expense tracking?
Something else?
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by DeltaBachelor(m): 8:35am On Jun 22
Very insightful analysis
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by donproject2(m): 8:40am On Jun 22
Being a Software and Laundry Engineer, I already solved this exact problem in Laundry business. I built a Laundry ERP app that helps with managing laundry sales and inventory.

It has multi-branch capability that let business owners see branches figures and performance. There are reports for barely everything that needed to be known, this include top customers, garment types brought most often, service type mainly asked for (Laundry, drycleaning, ironing, etc).

It also helps track number of days customers last patronize so that they can be reached out to.

It does so many more that foreign software would offer.

My next project is to build a SaaS for Property Management System. The software will help commercial hubs with activities management ranging from electricity bill and other utility fees like fuel, cleaning, security, etc.

If we all can go digital, these issues are not far from being over.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Keme4Real(f): 8:45am On Jun 22
People who are serious with their business will always find a way to track these things on paper.

These days tech apps may help but only the younger generation are used to that. Many old timers still do things the old way.

But people who don't track these things meticulously will always learn the hard way.

Oftentimes it boils down to lack of awareness or some form of training from mentors or upbringing.

For example igbo business people tend to be very good at these things because their culture brings them in contact with these knowledge from an early age, particularly those who grew up in the east or grew among other igbo business people.

Thats why igbos tend to succeed in business more than others because they learn business management just by being around their kin.

Meanwhile many people who fail don't have such orientation or nobody told them.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by BioData45: 8:45am On Jun 22
Modern ERP software will do the work for you.

In Nigeria case, I too know is common among business owners. Instead of employing professionals, they would rather do all themselves.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Ayrastarr(f): 9:00am On Jun 22
Dear lagos business owners,

Do you currently use any AI tools for your businesses? If YES OR NO

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Please, I am currently conducting academic research on "THE IMPACT OF AI (artificial intelligence) ADOPTION ON OPERATIONAL EFFICIENCY AMONG LAGOS SMES".

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To actually get usable data, I need your feedbacks as a business owner in Lagos

Please spare just 2 minutes to fill out my anonymous academic survey.

Thank you.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Host78: 9:25am On Jun 22
BioData45:
In Nigeria case, I too know is common among business owners. Instead of employing professionals, they would rather do all themselves.
this thing of one person doing everything is a big problem in Nigeria.

Nigerian businesses will rather not do it instead of employing or contracting someone to do it for them
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Emeskhalifa(m): 9:29am On Jun 22
A pos agent with multiple locations is in need of an app, that can record pos transactions, calculate the pos charges and the charges a staff collected from a customer, record expenses for the day and be able to tell what's left as profit for the day.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by BioData45: 9:32am On Jun 22
Host78:
this thing of one person doing everything is a big problem in Nigeria.

Nigerian businesses will rather not do it instead of employing or contracting someone to do it for them
They don't want to spend, they want the profit alone and don't want to tax.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by demanuel(m): 10:13am On Jun 22
Emeskhalifa:
A pos agent with multiple locations is in need of an app, that can record pos transactions, calculate the pos charges and the charges a staff collected from a customer, record expenses for the day and be able to tell what's left as profit for the day.
Let me get you correctly.
You mean the pos agent need to have total amount given out to customers, the charges, and expenses for the day by all staff from different locations?


Google Sheets can have all your figures reconciled.

The staff only need to input those figures correctly at the end of the day, after close of business.

A simple Google Sheet template with each sheet assigned to a staff name will help track the records.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by holyDaniel: 10:18am On Jun 22
Inventory is a very sensible and technical job. To be able to control your inventory effectively you must carry out a good ABC analysis of your inventory.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Emeskhalifa(m): 10:39am On Jun 22
demanuel:
Let me get you correctly.
You mean the pos agent need to have total amount given out to customers, the charges, and expenses for the day by all staff from different locations?


Google Sheets can have all your figures reconciled.

The staff only need to input those figures correctly at the end of the day, after close of business.

A simple Google Sheet template with each sheet assigned to a staff name will help track the records.
Yes he has been doing that using Google sheet, but wants an option different from Google sheet
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by westlius(m): 10:45am On Jun 22
Inventory is very important, inventory can also tie down cash(inventory in warehouse which has not been sold for a long period of time).
Inventory should be closely monitored to check expired goods and damaged goods.
Properly inventory reduces fraud and theft
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by professore(m): 11:00am On Jun 22
Okay okay okay okay okay
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Hightablevoice2: 11:19am On Jun 22
There's this guy on IG.. something MBA is his name. He breaks down the synthesis of SMEs in Nigeria. The guy is Ibo. He packs a lot of knowledge, at least that's for those who can see it and hear him clearly. Any small business owner, I will encourage to search for the guy page. I have seen some of his post, and I can honestly tell you the guy isn't teaching textbook, he is teaching experience
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by mooretech: 12:47pm On Jun 22
Emeskhalifa:
A pos agent with multiple locations is in need of an app, that can record pos transactions, calculate the pos charges and the charges a staff collected from a customer, record expenses for the day and be able to tell what's left as profit for the day.
An Appsheet app built off the googlesheet template he is currently using can easily serve for this purpose. Would hardly find an already existing app that will meet that exact need
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by koha(m): 2:12pm On Jun 22
[/quote][code][/code][quote author=donproject2 post=139794304]Being a Software and Laundry Engineer, I already solved this exact problem in Laundry business. I built a Laundry ERP app that helps with managing laundry sales and inventory.

It has multi-branch capability that let business owners see branches figures and performance. There are reports for barely everything that needed to be known, this include top customers, garment types brought most often, service type mainly asked for (Laundry, drycleaning, ironing, etc).

It also helps track number of days customers last patronize so that they can be reached out to.

It does so many more that foreign software would offer.

My next project is to build a SaaS for Property Management System. The software will help commercial hubs with activities management ranging from electricity bill and other utility fees like fuel, cleaning, security, etc.

If we all can go digital, these issues are not far from being over.
What is the name of the app and where can one get it?
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by LordBillionz: 11:35pm On Jun 22
Emeskhalifa:
A pos agent with multiple locations is in need of an app, that can record pos transactions, calculate the pos charges and the charges a staff collected from a customer, record expenses for the day and be able to tell what's left as profit for the day.
You should check out AiBiz. It’s a business management app that handles exactly what you just described, tracking multi-location POS transactions, calculating standard charges vs. what staff actually collected, logging daily expenses, and giving you an accurate breakdown of your net profit for the day. It’s perfect for keeping an eye on staff at multiple locations.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by Enochi(op): 9:09am On Jun 24
Emeskhalifa:
A pos agent with multiple locations is in need of an app, that can record pos transactions, calculate the pos charges and the charges a staff collected from a customer, record expenses for the day and be able to tell what's left as profit for the day.
This is actually a very common problem.

I don't even think the first requirement is something very sophisticated.

Ideally, the owner should be able to see:

Total cash dispensed by each branch.
Charges collected.
Expenses incurred.
Expected cash balance.
Profit for the day.
Performance across locations.

Even a spreadsheet can handle this if everybody enters figures consistently.

The real challenge usually isn't the calculations. It's maintaining records consistently enough to have visibility.
Re: Why Do So Many Small Businesses Struggle With Inventory And Cashflow? by donproject2(m): 10:32am On Jun 24
koha:
[code][/code]


What is the name of the app and where can one get it?
I do local or cloud deployment via Perpetual Licensing for clients. I may turn it into SaaS in the nearest future.
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