Business -You want to start a business but you are still grappling with the choices; and maybe not sure about how to raise the capital. Today we are going to show you exactly how you can start one without enough capital.
Firstly, you must carry out a through market survey to establish the population around the area and who can be your first potential customers, what they need and what they are asking for.
Secondly, you will be required to assess the demand of your product, who are your competitors and how much they sell.
Thirdly, you will have to start from somewhere. Buy few,sell as you grow on. This way you will be able to tell the turnover rate of your stock in the available market. It is not wise to buy a lot of stock in a market you aren’t conversant with. You might lose cash in dead stock.
You will also be forced to detach friends from your business. Avoid credit sales because this could derail the flow of your stock. Debts in business will eat away your business and in no time you will be closing down.
Moreover, make sure you give competitive prices to your first clients. Never demonstrate an insatiable appetite for riches within a short time. Attract customers to your shop first. Nothing puts off a customer than a bad price.
After you now start to learn of some progress in your venture, don’t just sit down conformable, continue researching about market trends so that you are not caught unawares. Pushing on will make your brand standout.
And last but not least, listen and attend to your clients’ needs. Give them quality as opposed to quantity.
