It is always very advisable to be passionate about what you are going in for. Being passionate about a particular business or career in life will not only help you but will be of a good advantage to in overcoming the challenges in it.
However, problem and challenges will always crop-up in every given moment and in that challenge lays your breakthrough and success and the ability to excel mightily in that career/business, without challenges there will be no successes, without successes there will be no challenges, if you must overcome business dilemma, business whahala, you must get up and raise up to your responsibilities of waking the giant in you, face it head ahead, bomber to bomber with diligent and good work, walk with the believe that you have the solution to the problem, work smartly and gently, don’t just sit there and procrastinate over issues, you got not to be lazy, lazing around all the time, because procrastination and laziness only exist in the dictionary of a sluggish and idle minded man dictionary who always complain negatively about the country’s economy, which is only a ghost and not minding the positive aspect of the economy, the bullish.
Overcoming Business Challenges has a lot of tactics and strategies
1. Saving during raining days
2. Good business plan
3. Good bookkeeping
4. Cut down expenses
5. Mitigation of management soft issues
6. Making right business choices
Starting up a new business comes with lots of soft issues
2. Location: nonstrategic location (bad location)
3. Capital /Loan: lack of capital, high interest rate by commercial banks
4. Raw material/services; non availability or high cost of materials
Management is one of the major aspects that determined the longevity and successes to be recorded in a constructive short term plan, there must a regular and consistent organizing of management and leadership seminar by the company to enhance the managerial and leadership skill of its staff.
The Raw Material; the company must have a direct link to the major distributor of the raw material, having the direct link will assist in getting the raw material at an affordable rate, therefore making it even more affordable to its final consumers at an excellent price rate for regular production
Services/product; must be of good quality, satisfaction of your customer should be a priority, give them good value for their money.
Capital/Loan: consider the capital involvement to start up a business, also consider the interest rate at which a loan is given to you by commercial bank.
Carefully calculate the period of your breed and breakthrough in the proposed business to enable you ascertain if getting a loan is best, and consider at what length and rate you are to service your loan.