My idea on business strategy

[kasablings]

There are many things to think about before opening a business.most people don't know business there going into.you need to have a knowledge about the business.then make good feasibility study on the business and location insight.have a packaging and a commercial goods that has high demands.then check ur competitors price make your affordable for a start the increase in price gradually.and above all be consistent that is also a big role in business that makes you succeed.

[Promocodeudo]

It is very important as a business person to strategize your business perfectly before taking action, today so many people have failed to become successful business men and women not because the business is not a good one or it does not give you profit but their are some little factors that can hinder a business..
SIGHT: Some people have a nice business but they don't sell out any of their goods months in months out what they have still remains with them most times they will tell you that somebody is manipulating them Omo nothing Is wrong check your location if it's not good change it.

Greed: Many people are very greedy when it comes to business they look for over gain this factor can hinder a business some people would have this goods that are getting bad for consumption but still keep it to be sold till it gets bad and at last it will be thrown away,who lost.

Every business person should learn how to strategize so well before going to set up a business.

OP, although what you said is in line but, one of the major factor for unsuccessful business is the inability of individuals to identify the particular business they can handle, laying out strategy to make your business move forward is a good idea too, when their is competition in the market, the smartest among all succeeds and how he or she succeed in this condition, for instance if his profit in each goods is twenty naira and other people are using the same profit line to sale, he can decide to sell with Ten naira so that he can go back to market very fast, if he do this, people will patronize him more and the turn up will be so much and enormous to count, what every business need is consistent selling.

[rachael9385]

It is very important as a business person to strategize your business perfectly before taking action, today so many people have failed to become successful business men and women not because the business is not a good one or it does not give you profit but their are some little factors that can hinder a business..
SIGHT: Some people have a nice business but they don't sell out any of their goods months in months out what they have still remains with them most times they will tell you that somebody is manipulating them Omo nothing Is wrong check your location if it's not good change it.

Greed: Many people are very greedy when it comes to business they look for over gain this factor can hinder a business some people would have this goods that are getting bad for consumption but still keep it to be sold till it gets bad and at last it will be thrown away,who lost.

Every business person should learn how to strategize so well before going to set up a business.

OP, although what you said is in line but, one of the major factor for unsuccessful business is the inability of individuals to identify the particular business they can handle, laying out strategy to make your business move forward is a good idea too, when their is competition in the market, the smartest among all succeeds and how he or she succeed in this condition, for instance if his profit in each goods is twenty naira and other people are using the same profit line to sale, he can decide to sell with Ten naira so that he can go back to market very fast, if he do this, people will patronize him more and the turn up will be so much and enormous to count, what every business need is consistent selling.

Business is business and we know that there are always competitions no doubts but even with competitions one with a wise choice can sell more then his or her fellow competitors true, which means everyone who's doing a business in an environment whereby there are a lot if competitions, they should make sure to apply wisdom if not their goods will have to remain at their shop and het spoilt.
Been a business owner is not about the profits you are making alone, because you can be making profits but you don't have the ideas to manage a business the business will run dry because you do not know how to manage profits and how to manage loses.
Business are made from ideas, when one is not smart enough to handle a his or her business the business will collapse and not improve.

[Hewlet]

4. Lack of customer relation: when you don know what your customer needs the most and also knowing there expression if you are satisfying them or not.

when it comes to most Nigerian small scale  businesses, this is the area most of them end up missing it all aswr.

Most small scale business owners don't know that Thier customers is the number one factor that keeps Thier business running, they are mostly not too concerned about the feedback they get from Thier customers. You go to most shops and it's almost as if you have to beg them to sell you stuff before they will come out to sell stuff for you. And when customers stops coming around the first thing that comes to Thier mind is that a neighbour is using Witch craft on them.

A good customer relation and service can keep a business going smoothly even when the customers aren't all that much. Thier is how you will treat your customers, even if they have an alternative shop to get what you're selling at a cheaper rate, thy will still continue to petronice you

[kasablings]

Business is innovation time changes and trend also changes,as a business person always learn new things about your business and change for the better.cause some person's might be making profit from there business and be contented with were they are,not knowing there's need for innovation.when someone else in that same business comes around with a more trending way it begins to affect there business and people will move to what is new they start having issues in growing or innovating to that standard.

[Pi-network314159]

SIGHT: Some people have a nice business but they don't sell out any of their goods months in months out what they have still remains with them most times they will tell you that somebody is manipulating them Omo nothing Is wrong check your location if it's not good change it.

I agree with you say location na one important thing to consider before venturing into any business because if you no get better location to run business you fit run shot for the business you dey do. And na village people go carry am.

Greed: Many people are very greedy when it comes to business they look for over gain this factor can hinder a business some people would have this goods that are getting bad for consumption but still keep it to be sold till it gets bad and at last it will be thrown away,who lost.

Yes another problem na over gain too. Most people due to over gain Naim keep them for where dem dey till today and the funny part be say the gain wey dem dey get no fit make dem rich self o. From year to year dem just dey thesame, nothing changed. And that high price go dey chase customer comot.

Another one na laziness and lack of understanding customer. If person too dey lazy, the business no go ft move well because people no go like to dey come your shop. Some people don open shop but them no dey frequently go there atol and people dey alway like a busy place and when dem come you dey always dey shop dem go stop Coming. but some people no go understand this thing. Any body wey dey do business make E dey constant for the shop make people dey see say you dey come and you must dey know wetting your customers need sothat the next market you wan go, you go need buy wetting your customers need.

[Churchillvv]

Perhaps you're very correct with your points that must be considered in order for a business to grow but basically from my perspective there are lots more to put into consideration to achieve success in ones area of business. Just as you mentioned {SIGHT} it's one of the major reasons some business falls, how can one be selling car part in a food market isn't that so improper? I'm considering sight for some people like me who like to go into importation and exportation of cars and its spare parts. if you wish to succeed in such business you must consider a mechanic shop, or it's best situated in a mechanical area because this are the set of people that can patronize you. Etc so it applies to every business.

There are lot more to discuss but it can't be over- exagggerated

[Gormicsta]

Ideas plenty dey for plans to achieve a good business, for business to reach to a certain stage, whether na company or personal business, we go  get plan on how we want it to grow reach, for example to do wetin it takes to make the company grow well like to create better and comfortable place for customers to dey come, you know our country sabi like wetin go dey attractive for eye and if e come dey affordable for people, e go sweet wella and e go dey bring more people to your business or company because people sabi like cheap things, so like this now, if you dey do things go dey make people happy, e go really make your business or company grow to the level wey you want.

[odunybiz]

4. Lack of customer relation: when you don know what your customer needs the most and also knowing there expression if you are satisfying them or not.

People normally ignore this in business and it's highly important if you want your business to grow. Your customers are the people you are selling your good to, the way you treat them highly determine if they will come back tomorrow.

[Claudeake]

Every business person should have the minimum tactical acumen to strategize to succeed in the business. I would like to discuss about business in the rural areas.
Let's take a hypothetical case of a poor household that would want to embark on trading in food stuffs either in the semi urban areas or an urban areas. Again this household is made up of father, mother, and five children. In fact, it has seven members.
I would suggest two ways for the household to embark up n for the success of the food stuffs business.
Firstly, the entire family members should constitute themselves into a production unit in the cultivation of cassava, sweet potatoes, yam and plantains farms, with each of the crops occuping 4 acres of land. This pattern of agriculture should be a fairly permanent source of food stocks for family consumption only and not for sale except there are sufficient surpluses. This is done not to temper with the food stuffs that make up the business in the shop. For this is a separate entity of its own. When these are done, the business would survive the test of time.
Secondly, the food stuffs business should not be sited in an environment where almost all the neighbors are relatively poor to the extent that none is capable of paying credit when food stuffs such as garri, a cup of beans, maggi, a cup of rice are bought on credit.