4 TYPES OF BUSINESSES AND HOW TO SCALE THEM

if you don't know which category your business falls under don't take any business advice oh there are only four types of businesses and each of these business has different ways in which they scale if you go and take the advice from this and put it in this business the business will not work that's why most of you keep getting advice but it's not working for you because the advice does not match the type of your business if you don't know which category your business falls under don't take any business advice oh I know send you I know did they I beg oh number one e-commerce commerce business is for those of you that you make products you sell products there are two types of people there are people that resell and there are people that they so I'm going to address both of you when when you are selling this type of business are you seeing the way the graph is going it it first start like this go like this this type of business is easy to make money very very fast that's why you notice that a lot of Nigerians they sell shoes they sell bags the easiest business to get into is this business just find a supplier resell do dropshipping it's easy it's easy to make money from this business but you will get to a point in this business where you realize that you've eat a cap yeah and if you just be here for the rest of your life to grow in this business requires three things No. 1 you need to begin to move up the supply what supply chain basically for example is let's say you sell perfumes yeah the finished product is the product you are selling but the supply chain means instead of selling that you climb up the supply chain and begin to sell bottles that are used to pack perfumes or you begin to sell the perfumes themselves then climbing up you now begin to sell the materials that people use to sell that to make that perfume rather are you seeing it now in this kind if you really want you need begin to move up the I'm going to teach you how to separate into different value chain from where the supply comes from down to the so that you'll be able to identify the next the next level this is what Okoya for those of you that don't Okoya is the chairman of Eleganza Okoya used to be a a fashion designer he now realize that to get fashion equipment really hard so he now climb up the value chain and began to import fashion equipment then began to sell those and before you know it moved into manufacturing that's how these oh if you keep staying at that level you don't climb up if you keep staying as a designer you don't climb up into the next supply or value chain you're missing out on a lot of business another thing you can do for this business don't joke with branding there are a lot of you doing this in almost if not billions of people that sell products online your branding has to be very very powerful then the third thing you should not joke with is distribution distribution distribution is how your products that you are in Akure or you are in Lagos can get to somebody that is in Abuja if you don't have a good people will just screenshot your product online they will take it to their own vendor and buy it that's why you keep losing losing out a lot of customers it's not like you don't have customers people want to but you are too far you don't have a strong logistic network that's if you know you don't have a strong logistic network find good logistics see my best advice is if you have the money start your own logistics brand for your own business not for other people for your own business own your own logistics that will help you yes you go see shege for delivery guys hand oo