Business -Setting up a successful chain of businesses requires, first, knowledge and enough know-how in the line of venture.
Many tycoon businessmen, across the world, made it to greater heights through what is called trial and error, learning and correcting mistakes until when success came through.
Find a product, test the market and retest so that you can see it’s sustainability and availability. Most products are not always available from suppliers; and entering such an unpredictable industry could turn up a headache because of lack of a stable supplier.
So, looking around and having about three reliable suppliers could help things and keep your business running. There is nothing as bad as lacking steady inventory to service incoming orders.
Apart from steady stock and supplies, you will, equally, require a market and a supplier who has a fairer price. Just taking any supplier could be fatal. Make sure you have a supplier who can give you discounts and gifts.
Your business will also require workers who are not only honest but also hardworking. Having a dedicated staff to help in the day-to-day activities of your enterprise is key in the success of any business.
Last but not least, make sure licenses and location are first sorted out because that is where your second business life is anchored.
Government will never spare you from paying taxes; similarly, no landlord will take excuses from you at the end of every month.
Note that, many businesses have been shut down before due to taxes and rent arrears.
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