Financial management of a store|| Experiencing entrepreneurship, What if you are the boss
Hello Hive
A very pleasant afternoon to everyone on the blockchain who may happen to stumble upon this post.
It is yet another Friday to share our adventures, market and shopping delight and am here with a little to twist to the tale.
What if the buyer now becomes a seller and you happen to be the entrepreneur who is to manage and run a store.
What can you do differently, the market strategy, finance and customer relationship.
We are all used to shopping, going to grocery and complaining about price hikes but have we looked into the center of any business to see if the structure fits the business owners
Store owners are humans like ourselves hoping to make some profit from the sale of various items in their stores.
There is the profit and loss side of their trading and many factors that will cause a store that is not thriving well to close down.
Today I wish to share a bit of my experience as an entrepreneur and what I have learnt regarding buying and selling.
The first things on my mind each time I go out to buy stuff is to see those store owners as been mean when they sell their product and you beg for a reduced price.
Now I understand better.
Customer relationship : There is this saying that you have learn to sell yourself and business well.
Your speech, politeness and manner of presentation will determine either a customer will buy from you or not.
You cannot sell your products based on empathy or pity for your customers.
If you end up selling everything out of pity everyone will come with their life's problem and you either dash, or sell at a loss leading the store to close down if there is no more finance.
This is a key and most important part of business.
- Proper budgets for income and expenditure is necessary and a sales book to keep record of the daily transactions, this one helps a store owner to know if they are making progress or not.
- Arrangements of goods and products is very essential as proper storage and arrangement makes it easy for customers to locate different products they are interested in.
It was a whole new experience for me learning about marketing been the seller instead of the buyer today.
Well am still exploring career opportunities hoping to get something started for myself.
Since getting a job isn't feasible we have to create the jobs ourselves, am into fashion training, farming and looking at other trading activities I could do to earn a living.
This store belongs to a friend and here we sell provisions like
juice and soft drinks, cereals, creams, soaps and general raw food items.
This is my market Friday entry for today, a whole new experience.
Congratulations! You really did that well and I do like the twist on it. Sometimes it is good to reverse the situation and see what it feels like when someone is trying to get a better price, forcing you to give up some of that much-needed profit. It is not easy being in business, for sure. Especially if you have a budget to work with and steady customers that depend on you carrying just the right items.
Keeping track of your expenditures is essential. You need to see how much of your profit is being eaten away.
The store is well-stocked, which is great! That alone is a huge bonus and says that you are doing well. I don't like stores that have 15 items on the shelves and the rest is empty.
Is it easier to sell your goods at the market? Although, I can clearly see the profit isn't as good and is dependent on rain, and other unpredictable forces of nature.
Getting a job isn't feasible? Because of the economy? So many people are moving right now to bigger cities for that exact reason. Really sad to have to move from all they know, but, glad there is an opportunity for them to do better.
Thanks so much for giving us the opportunity to see it from the other side. As a footnote, I would say that the only thing I would take points off for is using the same photos more than once in your post. (several of them) I would rather see fewer photos than duplicate them. Four. At least four shots and you are good for #MarketFriday.
I think it is important that you know how much I appreciate the time and effort put into posts. Thank you for your participating in #MarketFriday! I enjoy learning about your world and how it is to live in it. I find it interesting to compare standards, but, more than standards, by how we find the quality of our life with different indicators that the world does. It is not always about the wealth in money but includes many other things including being as healthy as possible, and being educated, but, not necessarily in school. I feel like a person is educated if they acquire knowledge and use it for the better good and happiness of the society they are living in. It is with great pleasure that I read through this and all of the posts, with these thoughts in mind.
I want to thank you for giving me the opportunity to get to know you and your piece of the world just a little bit better. I have learned so much about the different cultures of the world, I especially love the small things in life and make a point to give them notice. Life has been interesting for me this week, and I hope your week has found you happy and healthy, as we all look to prosper in our way of life.
I have learned so much about all of you and it has been an amazing experience. I can only hope that learning about each other can help us work together for a peaceful world. Please take the time to read a couple #MarketFriday posts and leave a genuine comment behind. It is important to interact within the community, allowing others to bond with each other. The fun is in getting to know people and making a positive contribution to community life. I am pretty sure that is why I joined Hive. All this fun and money too. What if not to love?
Fridays are all about the #MarketFriday Challenge! Looking to take part in it? Here is how:
Rules of the Road to Join #MarketFriday!
Take pictures! Be creative!
PLEASE Drop the link into the MarketFriday comment section so I can find it!!
7. You must put #MarketFriday by @dswigle somewhere on your post.
As always, please remember! #MarketFriday loves you!
Thank you for the wonderful addition and further clarity.
And the pictures too, am making amends.
Thank you.
That's just wonderful! If you can't find a job, make one. Great attitude! Congrats and good luck on your business :)
Happy #MarketFriday!
Thank you so much.
Am glad you understand the concept