Every business thrives on customer, what advice would you give to a new start up on how to leverage his or her business financially? And How to build your customer base
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Every business thrives on customer, what advice would you give to a new start up on how to leverage his or her business financially? And How to build your customer base
First, understand this: Money in business is like water in a bucket If you don’t control it, it will leak If you manage it well it will grow 1 Don’t spend like a big company Advice Start small Control your expenses Example Imagine you open a small Indomie shop Don’t rent an expensive shop immediatelRead more
First, understand this:
Money in business is like water in a bucket
If you don’t control it, it will leak
If you manage it well it will grow
1 Don’t spend like a big company
Advice
Start small Control your expenses
Example
Imagine you open a small Indomie shop
Don’t rent an expensive shop immediately
Don’t buy everything at once
Start with
Small stock
Simple setup
Grow slowly with profit
2. Separate your money”
Advice
Business money personal money
Example
You sell eggs and bread
Today you make ₦10,000
Don’t go and use everything to buy clothes
Keep business money in one place
Pay yourself small salary
This helps your business grow
3. Reinvest your profit
Advice
Don’t chop all your profit grow it
Example
You make ₦5,000 profit
Don’t spend all
Use
₦3,000 to buy more goods
₦2,000 for yourself
Next time you will sell more earn more
4. Use other people’s money wisely
Advice
Leverage using small money to control bigger money
Example
You don’t have enough money to buy many cartons of Indomie
You can
Collect goods on credit
Or partner with someone
Sell pay back keep profit
But be careful
Don’t borrow if you don’t understand the risk
5. Know your numbers
Advice
Always know
How much you buy
How much you sell
Your profit
Example
If you don’t track,You may think you’re making money, but you’re losing
Write everything down
6. Build slowly but strong
Advice
Don’t rush to look rich —’ focus on being stable
Example
Don’t buy a big car because business just started
Don’t expand too fast
Grow step by step
A good business is not the one that makes money fast — it is the one that keeps money and grows it
Knowledge is the key 🔐 🥺💯📚📖
From mozeey30 Thank you
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