Hello Everybody,
Being a business owner is one of the best decision I ever made in life.
I have worked in so many organisations, international and local. I have worked under so many bosses too. Nothing compares to really being your own boss.
Not gonna downplay or underestimate or look down on people who are currently gainfully employed.
One thing about being a business owner is that you work on your own terms, you face the obstacles all along, you face the wins and profits, you make your decisions. So yes basically you are responsible for your success.
This is why it is very important to have an in-depth knowledge of the business you are doing, you must learn how the market trends, what the ethics are and know the green lights and red lights.
For me I run a lot of business, ranging from Buying and selling foodstuffs from state to state, I do storage business, I am also into Agent banking.
Today I would be talking more on my agent banking business.
To get high turnover, make sure you always have some money with you, both online and offline (cash). Customers hate coming over to your outlets and not get the solutions to their problems or get the required service. Make sure you make friends with some of the businesses around you, so that you can easily get cash from them instead of going to the bank. Make sure you maintain a good customer relationship.
In Nigeria today, one of the most popular business people are venturing into is agent banking business, most graduates, entrepreneur enthusiast and many other people find it as a easy to run business.
The truth about the business is that it is easy to set up, and you need not have a huge sum of capital to run the business, also you can easily track your profit and expenses.
The business is quite lucrative especially if you are in a very busy environment like Schools, market places, busy roads, you can easily make a lot of customers and get high turnovers.
You can easily maximise your profits if you get to understand the dynamics of the business.
About the Ethics in the business, there are many rules and guidelines most of the agent bankers don't follow that can actually bring them into issues and therefore cause them to go bankrupt or loose their customers.
The first one is keeping proper records: most of the time most people don't keep records, no KYC of the customer is being documented. I have seen a lot of people being arrested and prosecuted in court and compelled to pay a large sums of money just for them being ignorant about keeping proper records. Simple things like collecting customers names and numbers are so important.
Another aspect of documentation is keeping receipts.
Another ethic is closing on time, just like bank close around 4 pm, agent banker too are supposed to close at least 6pm, I have seen a lot of people being robbed of all their hard earned money just because of staying up very late at night.
Another big ethical practice is to make sure of not collecting huge sum of cash at Late hours, also don't accept huge transfers from people you barely know. We have a lot of kidnapping cases and POS operators are their main targets, once you receive payment from kidnappers, police can track you down and you will find yourself in jail.
Customers are king: treat your customers very well, and they will always come back for more.
Finally Be very consistent and excellent in your services, and remember happy customers makes good business.
all pictures are mine
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Thank you for visiting my blog, Stay blessed 🙏❤️