Hello nairalanders

I having a business idea that I am about to startup, I have acquired the capital and skillset ready to start small, I also have a clear cut business plan for it.

Now I just want to hear from other nairalanders the challenges they experienced when they started their business.

Have alternative power sources

Dont Sell on credit

Dont Sleep with your sales girl

Finding a trust worthy partner

alcohol and oloshos

Low patronage, food business.

Losses

Na naija we dey
Expect the unexpected
Look right,left,front,back,up and down before crossing the road

Me na electricity

Gives a hint about your proposed business before we can shook our mouth...

"It won't work," was the challenge and when I made it work, they got angry and jealous.

End of story.

I am pessimistic about business in Nigeria but if you must go on have a very big marketing budget.

Learn how google ads work and how Facebook ads work and how to use them to close sales. Also get a good location too for offline sales.

Low patronage.
Pleasure in business. When you later have a female staff.

Electricity and the high cost of Data... But that was then...

The first step.. starting

1. No funds. The brokes must remain broke.

2. NEPA aka certified/world class business killers. They will frustrate you till your frustration becomes frustrated.

3. Not asking for sound advice from experienced and successful business men in your line.

Others includes; bad location, poor customer service, motivational speakers.

post=101124780:
Assembling a Business Team. ...Raising Capital for your Business. ...Finding the Right Business Location. ...Finding Good Employees. ...Finding Good Customers. ...Dealing with Competition. ...Unforeseen Business Challenges and Expenses.

ABEG MAKE WE HEAR WORD

NA OPATA YOU DEY YARN!

PLS SANE NAIRALANDERS, MAKE UNA POST COMMENTS MAKE I READ BETTER THINGS

All of us @[/b] have many businesses we are controlling at present and we have experienced different challenges along the way BUT the Koko be say, we overcame majority of the challenges to blossom.
It can only be God.
Here are some challenges we faced along the way, mentioned below are a few....

[b]Assembling a Business Team.
Raising Capital for your Business.
Finding the Right Business Location.
Finding Good Employees.
Finding Good Customers.
Dealing with Competition.
Unforeseen Business Challenges and Expenses.

Entrepreneurship is Bae mehn!



************ ************** ************

codedsoft:
Don't you know these are the variables you will consider before running a successful business

You even have the time to reply losers and frustrated trolls in life.
U get time o.
We don't call them children of hate, frustrations and perdition for nothing you know

FYI, you don't reply everyone's mention on Nairaland.
If you do, you give some nuisance chance to type more rubbish.
Ignoring those swines kill them more.
NEVER argue with them or engage them in a conversation.
They will make you roll in the mud with them.
They have nothing going on for them in their lives full of misery and bitterness, so they come on social media to look for who to bring down to their lowlives battered level.

#BeLikeDemMANNA
Glad you learnt something from our post......as always.
Read, learn and move on!

Bloomeverywhere:
I always love your comments. God bless you all

Thank you so much for the compliment.
God bless you and yours also.
May God's blessing follow you all the rest of your life.
Have a blessed Week ahead sir.

1. That your grandiose plans are bullshit
2. That your idea isn't special or unique
3. That you need money to make money.
4. Your girlfriend, wife and family members will discourage you.
5. Your friends will disert you.
6. That you will work and work round the clock and nothing will show for all the work you have done.
7. People will promise you heaven and earth but wont follow up on their promises
8. You will have constant fear of the unknown and lot of financial insecurities until you make it.
9. You will be depressed, suicidal, cry and cry, pray to God for help to make your business successful but he wont listen.
10. You will be lonely, entrepreneurship is a lonely world. No help and nobody want to listen to your stories.
11. If you have employees, dem no understand, customers are owning you, all that matters to them is their salaries.
12. Betrayals.
13. Government policies, they can wake up one day and change every law to your disadvantage or advantage but be ready to adapt.
14. Investors, some are greedy, they can steal your business from you by enticing you with cash.
15. Bootstrap, Bootstrap, never depend on investors, they are evil.
16. You may not be successful
17.There is light at the end of the tunnel, never give up.

Entrepreneurship is hard, hard, hard job, it is not glamorous, i hate it, i hate it, i hate it, they promise me riches that i will be like Bill gates and Mark Zuckerberg all i saw was pain pain pain but if you are successful, o boy, the reward is crazy. Nobody will understand the pain you went through.

If you can't do it, just find a job.

No enough capital

assholes around me, leeches

Human beings aka staff

post=101124780:
We have many businesses we are controlling at present and we have experienced different challenges along the way BUT the Koko be say, we overcame majority of the challenges to blossom.
It can only be God.

Assembling a Business Team.
Raising Capital for your Business.
Finding the Right Business Location.
Finding Good Employees.
Finding Good Customers.
Dealing with Competition.
Unforeseen Business Challenges and Expenses.

Is this the requirement to start a dead vulture selling business?
please am interested boss to join you in this darling business

I will advice you as follows
1.Be mentally ready you will face challenges
2. If you are going to be hiring staff , do it right , hiring wrong would do your business more harm
3. Have at least enough cash for a 6 month flow to cover unseen
4. Your first customers are important treat them with satisfaction, they will give you good referral
5. If you are a Muslim or Christian your belief and trust on God is important now , am not saying you should go to the mountain , there are business principles hidden in those books , use them right
6. Innovate and network continuously
7. Don’t expect to blow over night , see your business as a baby nurture it
8. Know that most business don’t get profitable instantly no matter how much you make from inception , save for the raining days

I hope my points are valid
Best of luck in your new venture !

post=101124780:
All of us @[b][/b] have many businesses we are controlling at present and we have experienced different challenges along the way BUT the Koko be say, we overcame majority of the challenges to blossom.
It can only be God.
Here are some challenges we faced along the way, mentioned below are a few....

Assembling a Business Team.
Raising Capital for your Business.
Finding the Right Business Location.
Finding Good Employees.
Finding Good Customers.
Dealing with Competition.
Unforeseen Business Challenges and Expenses.

OPATA!

My workers were nothing to write home about

When the biz is having problems dont tell anyone. If you must tell make
sure these people are better than you and they can solve your problem.

Bastard Nigerian scammers, everybody wan chop person

I wish I had the capital

Once you can overcome the fear of failure and able to comeback anytime there is a set back then you will go far. Everyother thing is secondary

firstly, inadequate capital, secondly low patronage and lastly unable to find trustworthy person.




and my business is a time consuming business but if you get more than enough capital and human resources to operate it, my people you are untop the world.