Strengthening the poor 33

Around 1998 I noted that in the quarters that we lived, buying bread was coming every morning because i used to run errand for most of our neighbors. The place where the bread is sold is like 500 meters away so my elder sister and I decided to be buying in bulk and sell to those living in quarters.
When we started the first round, we made profit, and we saved the profit and when we went second round we made more profit but that would mean doom for our small business. My elder sister was so happy with the profits that she decided we use the profit to buy more bread, I tried explaining to her that if we do, we won't be able to sell all, that we just need to maintain the amount of bread we buy for now. She was insecure and it was like I was challenging her authority thus she refused to reason with me, she exerted her authority and used the profit to buy more bread, but that would damn the business, the usual amount we used to sell was the number of bread we sold because our customers were just those living in the quarters, and they were numbered thus the extra loaves of bread got spoil with it our money. That's how the business crumbled because my elder sister only looked at the profit when the number of bread is increased and refused to consider if we have enough consumers to match the increase.

To help the African child build his business, train him on how to study the number of consumers and their consumption habits as he considers increasing his business. He shouldn't also make decisions based on his feelings and to suit his ego but base on market stats.

Business should be based on stats, therefore its important that you get abreast with the stats of your consumer and their spending habits. Don't increase stocks if consumers have not increased, maintain your stocks in accordance to your current consumers.

God bless you
Promise Ikpe
#RebrandAfrica