Things have changed, times have become hard. Unemployment levels have gone high. Many people have stopped working to join the business world. Many business have been started, everywhere you go, in high residential, middle and density areas, wherever they is space, people have put up a structure for business.
But many business people are complaining of not growing, not making profits. Some are changing from business to business every month still no improvement. People have gotten loans to start and others to grow their businesses, but the business lost all the money and now they are running away from money lenders.
Though business is an art that can be learned, it demands so many attributes. A business needs innovation, creativity, discipline, passion, vision, patience and etc.
Wrong Motives To Start A Business
Many people enter into business without the proper reason, some people have started doing business just because their friends are making a lot of profits. I have seen many people in pathways of our communities after seeing their friends selling Handbags, clothes or tomatoes, they too join them on the same area selling tomatoes without knowing they are creating self made competition, sharing their little customers. At the end of the day they run broke.
2. Lack of Management Skills
Some people have no mindset for business, they don’t know how to plan or manage. I have seen a kind of people who can’t do anything unless they are directed, these kind of people are good at carrying out orders, and are never independent to plan or think. These people are good to be supervised.
Unable To Read The Times
There are some businesses that are seasonal. Many businesses have collapsed just because the owner did not know the season, they were selling freezits or ice blog in cold season, selling vests, and other warm clothes in cold season. People don’t read the times and seasons, they don’t know what’s on trend on the market.
Lack of Patience
Lack of patience have made so many businesses to fail. People start a business and want to make big profits from it just as soon as they launch it and when a business is not giving them good profits in its initial stages, they leave it and start another business. These people fail to be patient and understand that many times in the early stages of a business, it’s hard to start getting bigger margin of profits. Many businesses starts in year two or after some time to make good profits.