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Nairaland Forum / Nairaland / General / Business / 3 Advantages Of Starting Small As An Entrepreneur (14632 Views)
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3 Advantages Of Starting Small As An Entrepreneur by mantosa(m): 8:40am On Feb 20, 2018 |
Doing business has its ups and down, one must be equipped with the required skills, experience and resilience before plunging fully into it in order to help minimize the risks involved. It is a fact that many aspiring entrepreneurs have recorded big losses as a result of wrong assumption, little or no experience and poor business management skills. The smart choice when starting out as a first timer in business or venturing into a new field is to thread with caution by starting with small investment and committing greater efforts into the success of the business, this way one will be able to learn the ropes quicker, garner the right experience and study the possible challenges. Here are three advantages of starting your business on a smaller scale: Experience The nature of customers that one deals with, demand and other factors that control how successful your business can become has to be scrutinized and understood before the decision of investing huge capital in a business. At this stage, many successful entrepreneurs all over the world have succeeded in building strategies and also modifying their products/service to suit the larger market by carrying out careful studies and gathering better information for better decision making. Cost management Starting out small sometimes helps prevent losses that may arise from inexperience, poor decision making and inadequate knowledge of one’s potential market. It is not an easy task to recoup large investment when the best measures are not put in place to achieve high standard product/service quality and meet sales targets. Better positioning When loopholes are identified and success strategies are properly employed in order to meet goals and objectives, a business stands a better chance of growing easier. That is, an entrepreneur who starts small can identify the challenges in his business and equip himself for the best opportunities. Source: http://tushmagazine.com.ng/advantages-starting-small-entrepreneur/ cc Lalasticlala 10 Likes 1 Share |
Re: 3 Advantages Of Starting Small As An Entrepreneur by anitasoll(f): 9:08am On Feb 20, 2018 |
I agree with the pointers you shared in your post. If you are the kind of person who cannot afford to lose money in a business, it is a much better idea to start small. However, either big or small, one must commit and work hard to make the business successful. These days, people are getting interested to start an online business because of the advantage of working from home and time and financial freedom it provides. 11 Likes 2 Shares |
Re: 3 Advantages Of Starting Small As An Entrepreneur by veekid(m): 6:25pm On Feb 20, 2018 |
Burst my brain |
Re: 3 Advantages Of Starting Small As An Entrepreneur by CirocBoi(m): 6:25pm On Feb 20, 2018 |
This pautex guy wen dey below me head nor correct...... Whats funny? If i should give u a dirty slap now!!!!! Are you mad? |
Re: 3 Advantages Of Starting Small As An Entrepreneur by pautex: 6:26pm On Feb 20, 2018 |
I want start an online biz but does not know the where withal on how to proceed. |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Edge1(m): 6:27pm On Feb 20, 2018 |
We all need capital, whether u want to start as an entrepreneur or not. Over to the guy below me |
Re: 3 Advantages Of Starting Small As An Entrepreneur by sped1oro(m): 6:28pm On Feb 20, 2018 |
start small to grow big....... And that's what my signature says...... |
Re: 3 Advantages Of Starting Small As An Entrepreneur by cnonyechi(f): 6:31pm On Feb 20, 2018 |
started my business smale after 4 years of learning and mastering the trade. just want to take a loan now to go higher dont know how wise dat is anyway |
Re: 3 Advantages Of Starting Small As An Entrepreneur by mikebrown92: 6:31pm On Feb 20, 2018 |
you can also do ponzi to start from scratch |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:31pm On Feb 20, 2018 |
Despise not the day of little beginning. 3 Likes |
Re: 3 Advantages Of Starting Small As An Entrepreneur by MrMoney007: 6:32pm On Feb 20, 2018 |
No time for humble beginnings. The tide is too high, the challenge is tough. Source for funds and boom 2 Likes |
Re: 3 Advantages Of Starting Small As An Entrepreneur by petkoffdrake2(m): 6:32pm On Feb 20, 2018 |
Nice one! Neglect not the days of your little beginnings.. .. 1 Like |
Re: 3 Advantages Of Starting Small As An Entrepreneur by dodelight(m): 6:33pm On Feb 20, 2018 |
As an entrepreneur, I totally agree with all those points. Starting small really helps in managing market dynamics. Of a truth, when I handle my production and role out my products, I feel like a king. 3 Likes |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Etihadstore: 6:40pm On Feb 20, 2018 |
Exactly my point My signature for more |
Re: 3 Advantages Of Starting Small As An Entrepreneur by dfrost: 6:45pm On Feb 20, 2018 |
Nice points op. Can't wait. |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:48pm On Feb 20, 2018 |
cnonyechi:go ahead and take the loan dear |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 6:49pm On Feb 20, 2018 |
4stepsAead: 1 Like
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Re: 3 Advantages Of Starting Small As An Entrepreneur by muchroom(m): 6:58pm On Feb 20, 2018 |
Failure is not the opposite of success but a part of it. |
Re: 3 Advantages Of Starting Small As An Entrepreneur by WHIZKIDEFE(m): 7:22pm On Feb 20, 2018 |
GBAM! |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Elfaris(m): 7:31pm On Feb 20, 2018 |
Hello guys, Episode2 of ZUMA is out. Seems like the old folks in the small village aren't as they look. Check out how Komla and Simphi find out. http://typicalstorie..com.ng/2018/02/zuma-episode-2.html?m=1 |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Nobody: 7:47pm On Feb 20, 2018 |
is there any entrepreneur that starts big... except for the ones that stole |
Re: 3 Advantages Of Starting Small As An Entrepreneur by BIXYBABE: 8:14pm On Feb 20, 2018 |
Okay |
Re: 3 Advantages Of Starting Small As An Entrepreneur by fleps(m): 8:23pm On Feb 20, 2018 |
MrMoney007: After you go boom, two years down the line you go kpuuf like olx and Efritin 1 Like |
Re: 3 Advantages Of Starting Small As An Entrepreneur by TheAlchemist: 10:15pm On Feb 20, 2018 |
cnonyechi:, If your projected monthly revenue is in excess of the monthly loan repayment, then why not, i will prefer you source the loans from friends and acquaintances. 1 Like |
Re: 3 Advantages Of Starting Small As An Entrepreneur by kestino(m): 5:08am On Feb 21, 2018 |
cnonyechi:i may forget every other thing my lecturer thought me in school, but i will never forget what he told me personally "NEVER EVER BORROW MONEY TO START A BUSINESS" 1 Like |
Re: 3 Advantages Of Starting Small As An Entrepreneur by florakims(f): 6:02am On Feb 21, 2018 |
kestino: What was his reason? |
Re: 3 Advantages Of Starting Small As An Entrepreneur by Raiders: 6:11am On Feb 21, 2018 |
kestino:I partially agree with your statement. however she is not starting a business. her business is 4 years old so its not starting a business. there is nothing wrong in taking out a loan to grow a good business as long as the interest is not too high and the loan can easily been paid OFF |
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