Is monopolizing yourself as the only seller of a product advised.

[TOZZIBLINKZ]

A lot of business owners believe that if they could get to monopolize themselves as being the only seller of a particular business product or service then they would make a whole lot of profit and a whole lot of business output and they will not even have the problem of facing competitors since they are the only sellers and dealers of a particular business product or service . But while this could be a good opportunity , but somehow it could lead to a big problem that is probably unforeseen and uncalled . We must first of all understand that no individual is guaranteed to stay in business forever because sooner or later businesses will always go bankrupt and liquidated and although it is not something that we pray for but passage of time and unexpected events overtakes every positive and rewarding thing and business is definitely one of them . Endeavour to train others in other to carry out your business even if when you are not in existence because this will absolutely go a long way to keep your business legacy and reputation .

This is basically applied to service-providing kind of business . Most of the service providing kind of businesses to monopolize a particular kind of service only to themselves in order to make the most profit and acquire the most customers and clients but to be sincere , it is indeed advised that we teach and lecturer orders as apprentice in other to carry out this services themselves even if we as the business owner may not be in existence .

 

[CALVINDOL]

We can definitely testify to the fact that living in a society whose local market is considered to be monopolized could definitely be daunting possibly due to the fact that only one individuals sells a particular commodity or renders a particular business service and in the absence of such individual there will be no satisfaction and comfortability made to the wants and needs of majority of people who possibly could be in need of what the business has to offer . Basically monopolization of business groups and services is definitely not advised especially when in an area with huge population of individuals .

We are basically not saying that a business owner should encounter competitors in his or her business but what we are trying to say is that from time to time more than two business is performing similar activities can also exist and coexist with each other . So that in a case where a business organisation is not opened for a particular day the other can take the initiative to satisfy the needs and wants of members of the public in that particular day . Similar business is performing similar business activities and purposes do not necessarily need to be in the same environment but sometimes to be far apart a bit from each other .