Have you ever done anything in a rush? Ok, you oversalted a soup just because there was not much time left again as you were preparing for a new work or so on.
How about when you entered an examination hall late and you had to just find ways to PEN something? Ok, let's not go there, this particular experience is one that can cause someone to pee his pants.
How about rushing into the financial markets during green candles? It has been one of such experiences again. Ok, I am not the assumed victim anyway, just that someone close to me just made the same mistake I made when I was kick starting my business Journey.
It is always not sweet to tell people about your bad experiences but in business, one way or the other you will have to face some challenging times. Getting a good business location is becoming very difficult especially in the heart of the town.
The prices of lease out shops have increased. Nevertheless, this is in no means stopping its high demand.
It has been the fate of this my friend. I could remember when I was out early last year to look for a branch office so we could consider making such moves.
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I couldn't find any and the ones available couldn't meet my taste. I wasn't ready to repeat the mistake I made some years ago. At such desperate times, I rented an outlet in an environment that wasn't that able to move business. Secondly, I had to spend money putting up that place to standard. It can be that annoying overtime when you spend time to later do the overall calculation.
We had to push business beyond just location. Anyway it has been an added advantage to us in the later years. It has made us prioritize online business activities most and we have been able to stay in business this far.
We are currently operating from our warehouse which is not that easily visible to passersby. Anyway, the apartment is big, it is something we wouldn't want to let go.
Our idea was always to find a warehouse where we could do production and get our branch offices where customers do their pick up.
That was by the way, getting back to where it ALL started, my relation just rented a business outlet. It was something I loved hearing. She had told me this earlier and it has been a long search.
She told me she spent so much on agents tossing her to and fro. Her story was not new to me, I had to halt when I realized how hot cake the market was so I don't make that wrong pick again.
The good news she told me wasn't as I entirely expected. First, the distance was far from her residence. Paying N1600 to and fro daily was a big expenses in a new business environment. Ok, she managed to convince me that the area was a hot cake and the moment business kickstarts, things will flow.
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Secondly, she told me she will not be going to the office all days; maybe twice or thrice a week. It was another flawed feedback to me anyway.
I am assuming how she will be able to understand the entire business. She is new to this environment and the first move is to put in workers to be paying her while they are using her equipment. It was one of those pieces of advice I gave her; ‘your presence will be well needed’.
That was to be considered later because the pending challenge is that where she rented is far from what I was expecting. The place is yet to be completed. In short, the entire building is just newly built with some complications.
She had made payments and going back from her is difficult. It is something my copartner was not happy about why she decided to rent a building that is not ready for use. It has been added expenses upon added expenses.
Currently, she told me she had to pair with the landlord to arrange the front of the shop (tiling) after she had made the payments. I don't know their agreements on that but what I know is that all these tactics are never good for business.
It may be the next rent renewal, the landlord decides to increase rent; the trick here is that you did the entire refurbishing yourself while the owner keeps it all.
To conclude, let me add, I was here before in my early days of shop desperation. The take home is this, ‘don't make moves when desperate, it mostly ends in unforeseen discomforts’. It is only a pity that many will continue to learn from experience.
My few years in business have shaped me to know how to make some long standing decisions. As I said, I have had to shut down getting an outlet this year again. We are trying to increase our stamina ahead of any upcoming work load. We hope next year will be that year.
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