Today, I will be continuing where I stopped previously on the Top 7 Business Strategies For Those Who Want To Make Big.
As the title implies, if you have no interest to make it big in business do not bother reading further but if your interest is as good as mine who wants to build a trans-generational business empire, read on for this is the kind of article that will educate you with applicable information to expand your business.
Having stated in part one of this article that starting a business with your own savings is the best, I want to also make it clear that running same business with internally generated fund is also a good idea only to invite investors when your financial track record is tilting on the positive.
4. Financial Discipline
The failure of great number of businesses in Africa and of course the world at large cannot be totally blamed on the environment nor the government policies. More should be channeled on how business owners treat money. Some hostile people call it a stranger and are always in a haste to send it out.
“If money cannot stay with you until it is planned to be spent, then you are not yet mature to be rich.”
– Emenike Emmanuel
As you generate your funds, you must find way of retaining the money in the business. Only by this means will you grow. But when you burn your candle from both ends, you will discover that competition will naturally catch with you; market dynamics somehow will catch up with you. And if dwell so long in that dead-zone ‘comfort’, fortune will move away from.
Saving a little will save you a great deal. It is one of the Top Business Strategies I learnt recently.
5 Monitor The National Budget
Every year your country present a budget. Have you ever considered giving a better priority to investing more in the area where your country’s greater percentage of investment is? No matter how small your business is, you need to leverage on this information if you need to make it big in business.
This article has not ended, we will continue tomorrow.
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