Every hour, minutes and seconds there are a lot of activities going on in the whole world which involves businesses. There are lots of businesses out there today and truth be told you can only mention few. A lot of people go into businesses these days so as to be financially free, most people believe that working for someone and collecting salary monthly (which is the normal payment procedure in my country) will not allow them achieve much in life.
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Selecting a business
We don't just wake up one morning and choose any kind of business to venture into, it must have been a business we have taught of, weighed and made lots of findings on. Before choosing a business we have to consider some things which I will list below.
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Consider the capital at hand
Before venturing into any business or even selecting any business at all, one most have a reasonable capital at hand. These days we require enough capital to startup a business, it's normal to spend more most times when starting a business and so adequate capital should be available before selecting or going into any business at all, to avoid any issues along the line. A lot of things can go sideways in a business that lacks adequate capital.
Business Location
Selecting a location for your proposed business is very important, we don't just choose any location to run any business. There are lots of things to consider before picking a location. For example we see lots of Fuel ⛽ stations in our country and most times they are built along the road side simply because vehicles will definitely pass by the road and it is easier for them to locate a fuel station beside the road. Compared to someone who builds a fuel station in a remote area. You cannot compare both sales at the end of the month.
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Record keeping
When you say you are running a business and you have no record for your business, then I'm sorry to say that's no where near a business. A good business most have appropriate and up to date records concerning how the business is going. Records are needed to be able to check if you are actually making profit from that particular business, the main reason why we all do business is to make profit right?? So what's the point of creating a business without setting aside profit?? So we should ensure that we keep all records of incoming and outgoing transactions in the company.
Do things differently
It's on rare occasions that one will create an entirely new or different business that no one has done before. Most businesses out there are already operating somewhere else by someone else. So how do you make your own business which is the same with a business out there flourish or do better?? You have to do things differently, and by doing so it means you must have studied the other person's business and check what they are not doing right and then add that too yours. This little things matter alot to build a customer base.
#posh
Posted on twitter
I wrote about this topic yesterday, this is an interesting thing everybody should be keen at knowing before starting a business.