Cash or money is important to the proper, effective and smooth running of any business or enterprise. It is, therefore, safe to say that without money, your business will collapse.
As a result, we discuss some cash flow problems that are likely to affect the smooth running of your business.
This will ensure that you are fully prepared for any uncertainties. It must be mentioned that 90% of small businesses or startups fail due to poor cash flow.
1. Delayed payment
After providing a service, you expect to be paid immediately
Read More 5 unavoidable Cash Flow Problems Your Small Business Will Experience And The Solutions
Being an entrepreneur is not for fun or passion. You want to make money and get rich over time. This is a key reason why so many people work very hard to float and manage their own business.
Despite these laudable efforts, owning a business may probably not accrue you the desired wealth you want. As a result, these are the reasons why this may be the case.
Managing a business is expensive
Entrepreneurs know that running or managing a business is very expensive. Your business will run at a loss especially in the nurturing stage due to these expenses
Read More 5 Reasons Your Business Will Likely Not Make You Wealthy
Startups may probably be the most affected in the present recession in Nigeria. This recession combined with the unfriendly business environment has made it arguably difficult for startups to fully perform.
Notwithstanding, you still have to market or create a buzz around your business. You may want to abandon this because you have a small budget. Not to worry, Jumia Travel, gathers 5 ways you can effectively market your startup on a small budget.
Businesses today now consider owning a website a necessity rather than a luxury. This is because they recognize the impact an effective website will have, not only, on their businesses but also publicity.
This said, there are some business websites that never attract traffic let alone customers. This may be due to some avoidable mistakes. What are these mistakes? Read on to find out.
It is not mobile friendly
What is the essence of a website if it is not mobile friendly? Mobile phones that are internet savvy are widely used now. It is, therefore, highly possible that mobile users will spend more
Read More 5 Website Fails Your Business Should Avoid
There was a massive ransomware (which is not over yet) attack that affected over 99 countries and more than 200,000 computers last week. So many services and businesses were disrupted.
Presently, according to reports, $57,282.23 in ransom had been paid to the hackers to allow people and businesses access their computers. A ransomware named WannaCry has been blamed for the unprecedented disruption.
This simply shows how heavily reliant we are on technology. In line with this, we discuss this and other signs that you are relying too much on tech to run your business.
Everybody is on break because the internet is down
Read More 8 Signs You Are Too Dependent on Tech To Manage Your Business
There are businesses or stores that are skeptical about using a Point of Sale Machine because of trust issues, the bank charges, and the expenses involved in getting one. Regardless, what they don’t know is that there are so many advantages to using a POS machine especially if you are doing a business that involves cash.
Therefore if you are any doubts about using a POS machine, see the 5 reasons your business should have a POS machine.
It is safe and secure
It is very risky to have physical cash in your store because you never know what will happen.
Read More 5 Reasons Your Business Needs a POS Machine
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