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Strong Reasons Why Retail Businesses Fail: The Critical Failure Factors (CFFs)…Cont’d

  “Success in business is 90% perspiration and 10% inspiration”(Thomas Edison,1847-1931). Jack Dorsey,founder of Twitter and Square, twitted in 2013 to his followers and said ” Success is never accidental”, See “Zero to One“, by Peter Thiel. Inspiration is lifting but perspiration completes the equation. If you are going to succeed in retail, you must deliberately work on those…

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Why Retail Businesses Fail: The Critical Failure Factors (CFFs)!!

Reasons Why Retail Businesses Fail: The Critical Failure Factors (CFFs) Many retail businesses start off well but along the way, something goes wrong and they fail. As you are reading this, you probably know a few businesses who started so well as just fizzled out ! Well, this isn’t strange at all. Many businesses fail across different industries and…

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Retail Business Success: Important Factors to Consider!

Success in retail business takes effort, resources and strategy. Interestingly, effort in retail  means both hard and smart work (a departure from the “smart work” cliché prevalent in industry today!). You will also need financial resources or a good credit standing with your trade creditors (e.g. suppliers) because you will need to maintain reasonable base inventory in your warehouse…

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Critical Factors for Retail Business Success!

In our previous post, we talked about some key principles and factors that you need if you really want to succeed in your retail business. Some of those factors include your people, processes, product and personality. This post addresses  two other very critical success factors: Innovation and Technology. Two other equally critical factors: Location and Capital will be addressed…

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Use these Factors to Succeed in Any Retail Business!

Retail Business

Retail business is a very exciting and profitable business to do and just like all of life’s successes, success in retail business is a also journey. To succeed in retail, you must engage those success principles that will ensure that you make more sales, control your inventory, expenditures & losses and set you up for further expansion! In a…

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Somebody Help!! ”I Don’t Know What To Do With My Money!”

So, now you have saved the capital or at least you have some money to do business, right? Ok, so let me ask you this: what business do you want to invest that money in? Obviously, you can’t do everything; you can’t invest in every business even if you had all the money, capacity and all other resources in…

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Five(5) Strong Reasons Why You Need To Start Your Own Business Now!

  1. Owning a Business is the Fastest Path to Wealth: In his book” Rich Dad, Poor Dad, Robert Kiyosaki talks about his two Dads-his biological father who was a school teacher, well respected, well known yet poor and his rich Dad(his friend’s Dad), who was a businessman and very rich-(Order Rich Dad, Poor Dad online here). According to…

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Is Fear Your Reason for Not Starting Your Business?

In our previous post, we discussed briefly, few reasons why you need not delay anymore in starting that business that you have been thinking about all these months or maybe years! You see, at some point in my life, I used to work in a commercial bank, and as a young officer, I had this young boss, a chartered…

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Why You Need to Start That Business

Living the 9-5pm work lifestyle is most people’s dream, at least its secure, makes you feel safe and guarantees your monthly salary at the very least(whether the salary is enough to meet your needs is another day’s discussion); however I do know and I can bet you, that the salary thing is Never Enough! Your take home pay can…

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