As a business owner, what you believe can either grow your business or hold it back.
Let’s break down some of the most common things Nigerian entrepreneurs say (and still believe) that are silently limiting their growth.
It’s time to swap these myths for facts that can move your business forward.
- “I’m selling every day, so my business is doing fine.”
FACT: Sales without proper record-keeping does not mean profit.
You might be selling every day and still running at a loss if you’re not tracking your expenses.
Real growth comes from understanding your net profit, not just how fast your products move.
2. “I don’t need to write anything down — I know everything off-head.”
FACT: Memory fails, records don’t.
Trying to run your business by memory is a recipe for confusion.
Document your daily sales, expenses, and stock. Whether it’s a notebook or an app, write it down. That’s how smart businesses are built.
3.“Customers will run away if I increase my prices.”
FACT: Pricing should reflect your cost and the value you provide.
If the cost of materials or services has gone up, it’s okay to adjust your prices. Transparency with your customers should be your goal. Underpricing might get you more customers, but it won’t sustain your business.
4. “My business is too small to register.”
FACT: Even your side hustle deserves legal structure.
Business registration helps you build trust, access funding, apply for government support, and protect your name.
Don’t wait till you “blow”, register early and position your business for real growth.
5.“Once I post my product on Instagram, people will buy.”
FACT: Visibility doesn’t equal sales.
One post won’t do the work. You need consistency, storytelling, and a clear reason why your product solves a real problem.
Marketing is a journey, not a one-time act.
6. “If I’m not making big money yet, it means the business is failing.”
FACT: Growth takes time.
Many businesses take months, sometimes years to break even.
Track your progress, learn from your mistakes, and stay consistent. Every big business started small.
Running a successful business goes beyond hard work, it requires the right mindset, informed decisions, and a willingness to grow. By letting go of limiting beliefs and embracing proven business principles like proper documentation, fair pricing, consistency in marketing, and legal registration, you set your business on a path toward long-term success.
Remember, growth doesn’t happen overnight. It’s built daily through clarity, structure, and smart choices. Take time to reflect on how you’re running your business today and make the changes that will help it thrive tomorrow.