Challenges facing a business where there is a competition and bad location

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In business there is always a competition and at times the competition doesn't not matter if we are in a good location because the location of the business is the real deal.

Regardless of the size of your business either big or small, business is always a competition. Competition make it difficult for a business to grow but can beat off the competition things if you're able to meet up with the customer's requirements.

Before I started my little business, I find it difficult to find a good location and when I finally get one, I told them what I want to be selling in order to check if the person beside me is not selling the same thing but they told me that it is different. I don't want what will cause rival between us, I rejected the other place because of that same reason.

After installing my kiosk and everything, I discovered that almost half of what I want to be selling is already part of what the woman is selling. She doesn't stay on one business and that alone is my first weakness because I have already spend a lot on the installation of the kiosk and also it is too late to back out by the time I found out.

It is my husband and my uncle that advice me to manage the place for the time being in order not to waste the money I used to do the installation and others. I stock the shop with goods but I can not sell what I want, I just pick some goods that I see it's not part of her business and also there are others who are selling the exact same thing as what I'm about to be selling then but I have no other choice.

The market is not moving because the location I get is not good for the type of things that I later settle for and I don't have enough capital for the other thing I think I can add and also the location is not the best for that other business too.

I think if anybody ask me for business advice, I think I have one or two things I can tell them using myself as an example.

The challenges I'm facing now is financial management, it is difficult to manage the financial well being when the market is not moving smoothly, the money that is entering does not go back to the business because it is not entering in bulk and instead it going to other expenses.

I tried to track all the income and expenses and try to make adjustment where it is needed but I don't think that is possible for now and I think I need a change of location.

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