+2348056178895, +2347033889845 info@steepleglobal.com.ng

Why Do Retail Businesses Fail So Fast…Part 2

Why Do Retail Businesses Fail

Business Killer No 6: Inadequate Capital and wrong Application of the Available Capital As a retail business, you will hold inventory, either in your warehouse or shelves and inventory ties down money. Even if you want to stock “lean”, by holding minimal levels of inventory, your capital will still be tied down. Also, you will need assets e.g. computers…

Please follow and like us:
error

Read More

Why Do Retail Businesses Fail So Fast?

Critical Reasons Why Retail Businesses Fail

If you want your business to succeed, you’ve got to be deliberate about your strategy. You must know  that businesses do not just succeed, that they are made to succeed! You must know that though money is important towards the success of a business, it is not the main or the only reason why businesses succeed or fail; many…

Please follow and like us:
error

Read More

Critical Reasons Why Retail Businesses Fail

Critical Reasons Why Retail Businesses Fail

Apart from founder or management dysfunction and the many other factors kill retail businesses previously discussed, (see our previous posts here), technology, cash flow and treasury management dysfunction, failure to take care of your personal health and safety, poor inventory management practices, over-trading, over expansion without taking present capacity into consideration, are some very Critical Failure Factors that easily,…

Please follow and like us:
error

Read More

Causes of Retail Business Failure:The Critical Failure Factors (CFFs)…Cont’d

Building your strong retail brand is easy(if you know what to do or hire someone or organization who knows) but getting it to fail is even easier! No one establishes a business and deliberately runs it underground; however failure to adopt sound business success practices from experienced experts can very easily send your retail business downhill. As you are…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

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…

Please follow and like us:
error

Read More

We Love To Hear From You

Thank you for taking out time to visit our website. We will like to get feedback from you.

error

Enjoy this blog? Please spread the word :)