What are the hurdles one needs to cross when starting a small scale business?

[MastetG]

Business is not an overnight sef up something for that you must have evaluated the environment, the right place and have good quality products. Give the best treatment to the client so that they return to the business and recommend it, apart from that you must be aware of the businesses around you, their prices and try to be up to par or improve them.

 

[Alexandoy]

My advice to new entrepreneurs is to make a good estimate of the needed capital. As much as possible the estimate is accurate. The amount you need is double of the estimated. The excess capital is your cushion to neutralize the so called birthing pains - snags and problems that you did not predict or unexpected. At least you have the funds for that like a sudden increase in the rental. If your capital is just enough then you will struggle when you are hit by a calamity. Look at the business in the pandemic era, most are dead by now.

 

[Daga]

Starting up a business can be tasking both mentally and physically. One mistake business owners tend to make it having the idea that everything immediately starts making sense and the profits would be rolling in. In fact, most times than not, that’s never the case. One thing entrepreneurs would need to have is enough patience because without it, they’d get frustrated

 

[Seun4luv]

The first thing to do is to get a good business plan must be used. Adequate capital is required. You must identify and set up your business in a good economic environment with potential for growth and development. You must learn how to manage your business too or get an experienced manager to handle it for you.

 

[Nurudeen]

Their is whole lots of things to go through while planning to setup a little Business and one of the is the spirit of pessimism. Most people do have this kind of fear when they are about to say up a business. They mostly think the business will fail and they will lose some of their capital. In as much as I try to believe, you also need to know that if you don't start up the business, you won't ever know the direction it will lead you to.

 

[Kennysplash]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

First of all you must know what you are doing and be very sure of it. Secondly you have to be persistent. Every business has it's hurdles, when one comes don't give up, rise above it and let it propel you forward. Always have it in mind that business has ups and downs.

 

[Bilal0087]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

The biggest hurdle is the fear of failure for the newbies, they are always much afraid about their luck and business strategy. But if believe that, the success lies behind the illusion of dear.
The only thing needed for success is loyalty, confidence, determination and firm belief in Allah

 

[giddy]

By far the biggest hurdle faced bystart-ups and other small enterprisesis money. Too many times, entrepreneurs don't start out with enough capital. Start-up costs often exceed budget. When starting out, get multiple bids for large-ticket items and always set up a contingency reserve for possible cost overruns.

 

[Donkiz]

Fear of failing has been the reason most people don't venture into business, truth is that you will never know how it will go unless you try. Even though starting a new business is not easy, but you have to give yourself chance to succeed by believing that you have what it takes to succeed. Excellent customer service is one of the things that separate you from your competitors, so you don't have any option than treat your customers right else they won't come back.

 

[Richard92]

Most of the hurdles you have to cross when setting up a small scale business are: getting a good shop in a strategic and good location, get a start up capital, make research of what you want to sell by knowing the population of the consumer of the product you intend to sell, and also take note if that product is a seasonal product .

 

[Adexgrace]

After dealing with capital and one has successfully started a small scale business. Another hurdle one have to cross is to know how to manage competition from substitute goods which are of high scale to ensure the growth of the small scale business.

 

[Trojan8]

I think starting with the right product will go a long way in at least ameliorating those fears. Them you also need the support of family and friends at the beginning because they are the ones that can really trust you at that initial stage.

 

[Abibatabosede]

If you want to start a business, the most important thing is to think positive about it, this confidence is a very strong requirement for business,if you lack confidence, you won't be able to think well of the business, automatically the concept is failed.

 

[Trexxxy]

I think first the person must conquer lack of confidence. A lot of people are in their shells and often times pass up on business opportunities, also when starting a small scale business be very knowledgeable about the business and always be smart.

 

[ahmedo24]

A small scale business can easily progress and also falls if one is not careful but first you must try as much as possible to limit the number of people you sell to on credit if at all you must sell on credit to win more customers.

 

[Mary]

The fish thing you need is access to start up capital,you need to be able to generate funds to start to he business, you need to keep up with the demands of customers and then you should be able to afford marketing

 

[Life drama]

Starting any form of buisness either a small scale business or larger scale business has its own hurdle.the first thing to avoid is procastination,and loosing hope in yourself if you can avoid such them then you are good to go.another one is capital which has render a lot of buisness useless,and the last one is enabling environment which has crippled a lot of small scale business useless.

 

[Heatman]

Starting a business for the first time can be a huge challenge for many people. Before starting any business, fears of whether the business will succeed or not and doubt about our capabilities to start the business arise.
What can we do to make it easier for us when starting a new business?

Well, from my little experience with starting engine oil business, you have to be really dedicated to your business at all costs no matter what you are doing. You have to keep asking questions on how to improve on your business and always call your suppliers to give you updates on prices as often as possible.

 

[Nma]

At one point every business person had one fear or the other.... But continually pondering over those fears will do us no good... we should learn to conquer our fears and face our business plans setting goals to help us achieve them daily...... small scale business owners sometimes have fears that people won't buy from them but at the end the fears turn out to be false

 

[Ltherman]

I guess you just have crossed the hurdles of personal psyche. Some of the hurdles we may have to cross will be self doubt, possible capital to start up to when you get your first paying client. The journey may not be easy but at the end of the day i think it'll be worth it.