So this year has ended by God’s grace. For my business next year, I have N5 million saved. I plan to use N800k for my house rent and N200k to settle and buy gifts for my parents and siblings for Christmas. The remaining N4 million, which I’ve saved over five years, is what I want to invest. Currently, I do a virtual assistant job online for N100k monthly, and I earn about N300k profit from my online business every month. I know if I invest more money into the business, I’ll get more profit and better results.
Right now, I spend about N100k monthly on advertisements, but after discreetly checking with competitors, I found out they spend around N450k-N500k on adverts. So, I’m asking: do you think I should invest an extra N1 million into my business? I plan to spend N250k monthly on adverts and push the remaining N700k to stock up. It’s a cosmetics (skincare) business. Or should I use N2 million? I know I’ll see results, but I’m scared of overstocking.
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