BUSINESS LOCATION
Stating up a new business entails taking a risk, but life is all about risks, and if you dont take risks then actually your not a human being, cause everyday we are taking risks.
There are things that make a business stand the test of time, a business needs a vision and a core ideology to succeed, if your running a business that has no well outlined plan then such a business is just floating. So when you open a new business the first thing you should consider is, how long am i going to run this business? what am i going to be dealing with and who? am i close to the appropriate market for my goods and services? Macdonalds id successful cause it has some o the worlds best real estate, it is located at the most exclusive places a food franchise could be located. so they make a lot of sales, you cant open Harrods in the desert or in a Bush, who will come, I cant move the GLO headquarters to my Village, why because we site Businesses where they are supposed to be. Find the right location for your business and answer the questions above. before doing that.
FINANCIAL START UP CAPITAL
This is a tense issue to many and the major excuse for not starting a Business for most Nigerians.
You have a job you have done for 50 to 10 years and zero savings, then when will you ever be self employed and live the life you want, Every business starts from some where you can start little with the savings you have, then from there, it will become big later on.
If you have a well laid out Business plan you can get sponsors for your startup, but you have to make your sponsors also see their own interest in the business for example You want to do a song for your album and you need sponsors, the sponsors will use your songs for business or other wise, There are many ways of raising capital to start a Business you just have to do some research.
Stating up a new business entails taking a risk, but life is all about risks, and if you dont take risks then actually your not a human being, cause everyday we are taking risks.
There are things that make a business stand the test of time, a business needs a vision and a core ideology to succeed, if your running a business that has no well outlined plan then such a business is just floating. So when you open a new business the first thing you should consider is, how long am i going to run this business? what am i going to be dealing with and who? am i close to the appropriate market for my goods and services? Macdonalds id successful cause it has some o the worlds best real estate, it is located at the most exclusive places a food franchise could be located. so they make a lot of sales, you cant open Harrods in the desert or in a Bush, who will come, I cant move the GLO headquarters to my Village, why because we site Businesses where they are supposed to be. Find the right location for your business and answer the questions above. before doing that.
FINANCIAL START UP CAPITAL
This is a tense issue to many and the major excuse for not starting a Business for most Nigerians.
You have a job you have done for 50 to 10 years and zero savings, then when will you ever be self employed and live the life you want, Every business starts from some where you can start little with the savings you have, then from there, it will become big later on.
If you have a well laid out Business plan you can get sponsors for your startup, but you have to make your sponsors also see their own interest in the business for example You want to do a song for your album and you need sponsors, the sponsors will use your songs for business or other wise, There are many ways of raising capital to start a Business you just have to do some research.
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