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eldavis
eldavisEnlightened Mentor
Asked: September 14, 2023In:

I have met some business owners and entrepreneurs who have said their customer business is only for a specific period of time, after that they plan on going into something else. I know of someone who owned a ...Read more

I have met some business owners and entrepreneurs who have said their customer business is only for a specific period of time, after that they plan on going into something else. I know of someone who owned a barbing salon fot years only to later change it to a gaming center later on. Do you plan on running your current business for long?

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  1. Mike Smith
    Mike Smith Knowledge Seeker

    Continuity should absolutely be one of the objective of a business owner or manager when he or she establishes a business idea. There is absolutely no individual who intends establishing a business today and wishes to close the business possibly within a week but rather he or she expect the businessRead more

    Continuity should absolutely be one of the objective of a business owner or manager when he or she establishes a business idea. There is absolutely no individual who intends establishing a business today and wishes to close the business possibly within a week but rather he or she expect the business to keep on bringing in imports and profits for years. If I were to establish a business this basically would be one of my most important objective. However this will require a whole lot of work on my part and I am fully aware of this.

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eldavis
eldavisEnlightened Mentor
Asked: September 11, 2023In:

When it comes to running a business, each and every business owner have different prices. Some might be cheaper while some might be a lot more expensive. Is there a thing like over charging your customers for your services?

When it comes to running a business, each and every business owner have different prices. Some might be cheaper while some might be a lot more expensive. Is there a thing like over charging your customers for your services?

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businessentrepreneurmoney
  1. Ramolak19
    Ramolak19 Knowledge Seeker

    See when you purposefully or unintentionally charge your consumers more than the agreed upon or reasonable price for a good or service, this is known as overcharging. It may harm your reputation, result in disgruntled clients, and even have legal repercussions. Transparency, honest pricing, and fastRead more

    See when you purposefully or unintentionally charge your consumers more than the agreed upon or reasonable price for a good or service, this is known as overcharging. It may harm your reputation, result in disgruntled clients, and even have legal repercussions. Transparency, honest pricing, and fast correction of any billing issues are all components of ethical business practices that help you keep the confidence and credibility of your customers.

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eldavis
eldavisEnlightened Mentor
Asked: September 8, 2023In:

Point of sales popularly known as POS is a very common business here in my country Nigeria. Their major services is to help their customers withdraw and transfer funds from their local bank accounts with the use of an ATM ...Read more

Point of sales popularly known as POS is a very common business here in my country Nigeria. Their major services is to help their customers withdraw and transfer funds from their local bank accounts with the use of an ATM card. As at 2017/18 one could easily startup a POS business with just 50k in naira or more. How much does it cost to start up a POS business presently?

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  1. Emmyty
    Emmyty Trusted Adviser Entrepreneur

    The cost of starting a POS business in Nigeria can vary depending on various factors such as location, equipment, and additional services offered. However, on average, it can cost between 100,000 to 500,000 naira to set up a POS business. This amount includes purchasing a POS machine, securing necesRead more

    The cost of starting a POS business in Nigeria can vary depending on various factors such as location, equipment, and additional services offered. However, on average, it can cost between 100,000 to 500,000 naira to set up a POS business. This amount includes purchasing a POS machine, securing necessary licenses and permits, marketing, and initial operational expenses. It is always recommended to conduct market research and create a detailed business plan to get a more accurate estimate of the startup costs.

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eldavis
eldavisEnlightened Mentor
Asked: September 12, 2023In:

As a business owner how do you measure the success of your business? Is it measured through the amount of customers you have or the numbers of sales you make?

As a business owner how do you measure the success of your business? Is it measured through the amount of customers you have or the numbers of sales you make?

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  1. Crystal
    Crystal Knowledge Seeker Experience on Blockchain technologies.

    The success of your business is all depends on your performance. What I mean is, you will put more effort and work towards the success of your business. Improve your business audience and train your employees to be active and to approach customers in a good manner. Consider your environmental and soRead more

    The success of your business is all depends on your performance.

    What I mean is, you will put more effort and work towards the success of your business.

    Improve your business audience and train your employees to be active and to approach customers in a good manner.

    Consider your environmental and social impact. Reducing your carbon footprint or contributing positively to your community can be a measure of success.

    You have to have it mine that a successful expansion into new markets or regions can be a sign of growth and success of a business.

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eldavis
eldavisEnlightened Mentor
Asked: September 21, 2023In:

Is an entrepreneur it is important to have goals for your business. Currently my goals is to ensure my brand becomes a household name. What are your goals as a business owner or entrepreneur?

Is an entrepreneur it is important to have goals for your business. Currently my goals is to ensure my brand becomes a household name. What are your goals as a business owner or entrepreneur?

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  1. Emmyty
    Emmyty Trusted Adviser Entrepreneur

    My goals as an entrepreneur are to create a successful and sustainable business. I aim to provide innovative products or services that meet customer needs and have a positive impact on their lives. Additionally, I aspire to build a strong team and company culture that fosters growth and collaboratioRead more

    My goals as an entrepreneur are to create a successful and sustainable business. I aim to provide innovative products or services that meet customer needs and have a positive impact on their lives. Additionally, I aspire to build a strong team and company culture that fosters growth and collaboration. Ultimately, I want to make a meaningful contribution to the market while achieving personal and financial fulfillment.

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eldavis
eldavisEnlightened Mentor
Asked: September 14, 2023In:

When if comes to running w business, especially during the early stage, the business owner needs to work hard to ensure the business does not crash. Is it possible for a business owner to overwork themselves in this stage? Or ...Read more

When if comes to running w business, especially during the early stage, the business owner needs to work hard to ensure the business does not crash. Is it possible for a business owner to overwork themselves in this stage? Or is there a thing like working too hard?

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businessentrepreneurmoney
  1. Light
    Light Trusted Adviser

    Yes, working excessively hard can have bad effects on your business. While commitment is important, overworking can result in burnout and have a negative influence on both physical and mental health. Relationships could be strained, and productivity could suffer. Long-term success depends on findingRead more

    Yes, working excessively hard can have bad effects on your business. While commitment is important, overworking can result in burnout and have a negative influence on both physical and mental health. Relationships could be strained, and productivity could suffer. Long-term success depends on finding a balance between work and personal obligations. Effective work, delegation, and regular breaks can help businesses avoid the negative impacts of long workdays.

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eldavis
eldavisEnlightened Mentor
Asked: September 16, 2023In:

What kind of business can an individual who has a degree in education actually startup? I know someone who was given admission to study education in the university of benin Edo state Nigeria but is rather reluctant because he feels ...Read more

What kind of business can an individual who has a degree in education actually startup? I know someone who was given admission to study education in the university of benin Edo state Nigeria but is rather reluctant because he feels there are no much opportunities in this field.

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businesseducationentrepreneur
  1. Augusta
    Augusta Enlightened Mentor

    A graduate in education can start various businesses leveraging their knowledge and skills. He can start with online tutoring,Offer personalized online tutoring services in specific subjects or for test preparation (SAT, ACT, etc He can also go into curriculum development, educational workshops, eduRead more

    A graduate in education can start various businesses leveraging their knowledge and skills. He can start with online tutoring,Offer personalized online tutoring services in specific subjects or for test preparation (SAT, ACT, etc

    He can also go into curriculum development, educational workshops, educational counseling, and creating educational resources like online courses or learning apps.

    He can also explore businesses in educational consulting, test preparation, or even develop educational toys or games to sell either online or offline

     

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eldavis
eldavisEnlightened Mentor
Asked: September 24, 2023In:

During a business class, one of the speakers said it was wrong to post memes and funny videos on your business account, that it makes you look less serious to your customers. Personally i think posting memes once in awhile ...Read more

During a business class, one of the speakers said it was wrong to post memes and funny videos on your business account, that it makes you look less serious to your customers. Personally i think posting memes once in awhile makes your post more lively and enjoyable. What’s your take on this?

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businessentrepreneurmoney
  1. spencer
    spencer Enlightened Mentor

    Yes, it actually increase engagement on your platform and make people visit your page often, if you just keep on posting business stuff, it might seem boring for your customers or clients, all work no play makes jack a dull boy. So you can be mixing it with a little bit fun and also do some quizzesRead more

    Yes, it actually increase engagement on your platform and make people visit your page often, if you just keep on posting business stuff, it might seem boring for your customers or clients, all work no play makes jack a dull boy.

    So you can be mixing it with a little bit fun and also do some quizzes and give away it will bring more people to your page and will always await your post which you can use as a leverage.

     

     

     

     

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eldavis
eldavisEnlightened Mentor
Asked: September 14, 2023In:

As a business owner, we are bound to face certain challenges while running the business, what was the worse challenge you have had to face in your business so far?

As a business owner, we are bound to face certain challenges while running the business, what was the worse challenge you have had to face in your business so far?

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  1. Carpon
    Carpon Expert Mind Hustler

    I think that personally one of the most challenging issues that I have is in the area of getting customers because my kind of business is one that requires you to really do a lot of work when it comes to publicizing and making your skill known to people. So it has not really been very easy for me toRead more

    I think that personally one of the most challenging issues that I have is in the area of getting customers because my kind of business is one that requires you to really do a lot of work when it comes to publicizing and making your skill known to people.

    So it has not really been very easy for me to do that but then with time I believe that it is getting better and then more and more people are now patronizing

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eldavis
eldavisEnlightened Mentor
Asked: September 7, 2023In:

Clothing is one of the basic necessities we need as human, selling cloths can be a very lucrative business, especially when you have a solid customer base. Between selling of women cloths and that of men, which would you consider ...Read more

Clothing is one of the basic necessities we need as human, selling cloths can be a very lucrative business, especially when you have a solid customer base. Between selling of women cloths and that of men, which would you consider to be more lucrative?

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businessentrepreneurmoney
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    Most times, women's fashion brings in more money due to wider choices, quicker shifts in what's popular, while shoppers refill their wardrobes often. Because of this, stores can suggest costlier items, leading to bigger profits per sale. On the flip side, men’s wear stays steadier - styles change leRead more

    Most times, women’s fashion brings in more money due to wider choices, quicker shifts in what’s popular, while shoppers refill their wardrobes often. Because of this, stores can suggest costlier items, leading to bigger profits per sale. On the flip side, men’s wear stays steadier – styles change less, buying happens at longer gaps, though repeat visits happen less. Success usually comes when blending both, aiming toward one clear group without spreading too thin.

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