Money Makeover | How to start a business | Citypress

  • 📰 City_Press
  • ⏱ Reading Time:
  • 57 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Money Makeover | How to start a business

Prevent Poor Performance: Lwandile and his wife plan to start a cleaning business.A good idea doesn’t make a business. Executing a successful venture requires proper planning and hard work, writesA business plan is without doubt the most important work you can do before starting your business.

“We had to estimate the price we could charge and then work out when the business would break even. That was challenging, even with a mathematical background,” says Lwandile, who has previously owned a business.READ: Making a plan to protect your legacy “A good idea doesn’t make a business. You need to know your own business on both the operations and finance side. We see business owners applying for finance, but when we ask them some basic questions about the financials, they say: ‘Speak to my accountant. ’I wouldn’t trust someone who doesn’t know their business plan,” says Madonela, who adds that, as a business owner, you need to understand basic accounting terms such as profit margins and ebitda .

Lwandile wants to focus the business in Vanderbijlpark in the south of Gauteng, as this is where his in-laws live. However, he is not sure of the market demand. He has done his research and found that there are no established cleaning businesses in the area. This could be either a positive or negative factor. It may be that there is insufficient demand or it is a golden opportunity to be the first.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Until the whole world get to know how good and generous she is I won't stop saying this because my life has taken another great shape financially, LindaStouffes

How wish all traders are like LindaStouffes there won’t be any loss of money because I and so many of my friends traded with her and got our profit, thanks once again LindaStouffes

Having you as my account manager makes me a champion I kept on cashing out weekly, I recommend you all to him Micheal_addy_

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines