02/17/2024
WHY I FAILED TO START A RECHARGE CARD BUSINESS
Some years ago, I had the intention of starting selling recharge cards, data and offering telecommunications business. I conceived that idea when I attended one business seminar in kano and was impressed with the numbers that come with the recharge card business.
I really made enough research about the business and I understood the basics of the business. I understood where to buy the cards, how to print , where to sell , the risk and the profit margin. It was actually pleasing and I have the little capital required (because the business is one of the businesses that required small capital )
But I failed to start the business for just a single reason that time. As of that time, I havenāt understand the principles and fundamentals of business .
I had a fried that time rather acquaintance that do the same business. He has been in the business for months using the channel of selling his product as I intended. He was my only barrier to entry into the business but he never knew.
Innocent me was thinking, how can I start the same type of business that this my guy is doing and how will I get customers since this guy is already doing the business. I was emotionally restrained and also lacks the basics of business knowledge operation.
I failed to realized that the business of the guy has nothing to do with my own. I failed to see how I can leverage on his existing knowledge and experience on the business to ride on.
This is why most of you failed to start businesses . You donāt want to hurt someone you know thatās already doing the business. You are thinking since people are doing the business, you will not be able to get your own customers. These are true in business.
First, you should understand that emotions has no place in business. Itās only a tool. Secondly, there is a customer for everyone. You just have to understand the business and know the type of customers you are looking for then develop a strategy to g