Post
Topic
Board Economics
Re: Building a prosperous business
by
letteredhub
on 27/07/2023, 14:21:47 UTC
Starting a business may seems easy but this come with alot of challenges which includes the ability to survive after being established.

Some people just start a business because they want to have a business.

This isn't enough point to start a business because a business based on this may collapse with time. When starting a business, you must put in mind that you want to solve a problem. It may be community, country or world problem. This various company have been in existence to solve various issues among people..
When you claim to start a business without been curious about real service delivery about the area of business you want to venture in then it's natural with time you will fade away as you face the  competitive business environment having no uniqueness about your service.

A real life example is about a store across the street opposite the very building I live in. Several peoples have rented this very shop for different business purposes but either pack out within 6 months or a year after just renting. Oh business isn't moving as I expected were some of the complains that follow.

The real problem behind all these complaints could be that they just decided to jump into a particular business cause they found out someone somewhere is making so much profit from, it's not a business they had passion for, but just for the profit chase and a little challenge with profit they disappear. Same is happening to so many businesses out there.