SOME TIMES WHEN WE ARE DOING BUSINESS,IT BECOMES LIKE AS IF OUR BUSINESS IS CRUMBLING TO RUINS,THEN WE BEGIN TO ASK OUR SELVES WHAT ARE MY DOING WRONG? ESPECIALLY WHEN YOU SEE YOUR COMPETITORS MAKING IT BUT WHO KNOWS ALL YOU REQUIRE MAY JUST BE THE RIGHT LOCATION TO DO THE BUSINESS,IF YOU WANT TO BE ABLE TO MAKE THE RIGHT CHOICE THEN
FIRST BEFORE I CONTINUE I WOULD LIKE YOU TO UNDERSTAND THAT THERE ARE HARD TIMES IN BUSINESS AND SO YOU SHOULD ALWAYS BE READY FOR SUCH TIMES.
BELOW ARE FOUR THINGS TO KNOW BEFORE CHOOSING A LOCATION FOR BUSINESS;
1) POPULATION OF THE PLACE: WE MUST UNDERSTAND THAT BUSINESS SUCCESS IS DIRECTLY PROPORTIONAL TO THE POPULATION OF THE LOCATION.THAT IS TO SAY THAT IF YOU LOCATE YOUR BUSINESS IN A DENSELY POPULATED AREA THEN YOUR BUSINESS WOULD BE MORE SUCCESSFUL THAN THAT OF SOMEONE IN A LESS POPULATED AREA.THIS IS THE VERY REASON WHY PEOPLE ARE MOVING TO PLACES LIKE LAGOS,PORT HARCOURT AND ABUJA TO DO BUSINESS. SO BEFORE YOU DECIDE TO START BUSINESS YOU HAVE TO MAKE SURE YOU KNOW THE PORPULATION OF WHERE YOU ARE GOING TO OR YOU COULD LOOSE.THE BUSINESS IN THAT AREA.ALWAYS TRY AND GO FOR A DENSELY POPULATED AREA BECAUSE SINCE THERE ARE MORE PEOPLE THERE MORE PEOPLE WILL BE INTERESTED IN YOUR PRODUCTS.
2) THE NEED OF THE PEOPLE: BEFORE YOU TAKE YOUR PRODUCTS TO A PARTICULAR AREA TO DO BUSINESS,YOU NEED TO KNOW THE NEED OF THE PEOPLE IN WHERE YOU WANT TO DO BUSINESS.FOR INSTANCE A WEB DESIGNER WOULD DO BETTER IN AN AREA WHERE THERE ARE MANY COMPANIES LOCATED BECAUSE HIS SERVICES ARE NEEDED THERE AND A CARPENTER WOULD DO BETTER IN A PLACE WITH LOTS OF RESIDENTIAL BUILDINGS AND SO ON AND SO FORTH.THIS IS ALL BECAUSE IF YOUR PRODUCTS AND SERVICES ARE NOT NEEDED IN A PARTICULAR PLACE YOU WILL LOOSE IF YOU START BUSINESS IN THAT AREA.
3) PROXIMITY TO MARKET: YOU SHOULD ALSO UNDERSTAND THAT FROM REASEARCH HAVE CARRIED OUT,A PLACE WITH A CERTAIN TYPE OF RAW MATERIAL,WOULD HAVE A VERY HIGH MARKET OF PEOPLE WHOM NEED THE FINISHED PRODUCT.SO IF YOU ARE RUNNING A MANUFACTURING BUSINESS,IT IS ADVICEABLE TO STAY CLOSE TO YOUR SOURCE OF RAW MATERIALS AND ALSO YOUR TARGET MARKET TO HELP YOUR BUSINESS BOOM.
4) URBANIZATION OF THE AREA: ALWAYS MAKE SURE YOU CHOOSE AN URBAN AREA WITH ENOUGH INFRASTRUCTURAL AMENITIES FOR THE AVERAGE MAN TO LIVE IN PEACEFULLY ALTHOUGH THIS DEPENDS VERY MUCH ON THE NATURE OF BUSINESS YOU ARE DOING AS SOME BUSINESS REQUIRE A RURAL AREA E.G IS CASSAVA PROCESSING.THIS BUSINESS OF CASSAVA PROCESSING WILL ONLY YIELD IN A RURAL AREA AND NOT AN URBAN AREA BECAUSE URBAN AREAS DON'T NEED CASSAVA.
NOW IF YOU GET A GOOD ANSWER TO ALL THE ABOVE,YOU WOULD BE ABLE TO MAKE A GOOD LOCATION FOR YOUR BUSINESS ENABLING YOU TO MAKE MORE PROFIT.
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