Dear Business Owner, On Bad Business Days, These 2 Tips Are Sure To Help You

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If you own a business or intend to venture into one, I bet you already know that business isn’t exactly rosy 100% - 24/7. Also, if you’re like me, whose national currency isn’t doing so well in the charts, then your business must be one of those dealing with the toughest of times in a long while. This piece cites two tips to help you navigate the challenges that your business may face.

Cut Down On Your Unnecessary Expenses

Money is so fickle, and it’s the easiest thing to squander. However, an entrepreneur should always know better. When you make the teeniest tiniest amounts in profit, your next big step shouldn’t be squandering and philandering.

Business owners in Nigeria, going through the shittiest of times due to the incessant fluctuation of the naira against the dollar know that the best way to remain in business in these tough times is to cut down on unnecessary expenses. If you were running your generator 24 hours a day, you might want to cut that down by half to save some good cash.

Even on good business days, it is advisable that you spend way less than you earn.

2. Health Is Wealth

Business Is a risk. And like I have mentioned a million times over in my articles, in business, there are good days and bad days. “Health is wealth” is one of the most logical slogans ever coined. I came across a video of an entrepreneur crying bitterly with snorts oozing out of her nose nonstop.

She was crying because she bought goods worth millions of naira when the dollar-to-naira rate was $1 to #860, only to realize that the naira had gained against the dollar to $1 - #650. It was a heart-wrenching video to watch. The lady looked sick, with her puffy eyes and all. Whatever you do, do not beat yourself up over situations beyond your control.

To successfully run a business, you come first, your well-being is the priority, and until you learn to manage yourself and your stress levels, your business will only get a portion of your entire potential, and as such, the business suffers.

To the business owner going through the roughest phase right now, I hope you finally realize that you are not alone in this. I hope you finally understand that you cannot exactly control everything that happens. All you can do is re-strategize to make your business comes out stronger.

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