Chit business - struggling to do my business because of huge competition

I am doing my chit business from past 5 years.as iam struggling to do my business because of huge competition I did all kind of promotional activities news paper advertisement,paper inserts,pramotional activities,everything I did then also iam not getting proper response from customers.I gave recruitment ads in paper and through consultants also iam not getting proper candidates.please give me the proper information on this regard.
26th June 2017 From India, Bengaluru

Dear Suresh,

The challenges that you are facing and because of two reasons. First one is lack of market research before starting your business. Second one inability to prepare business plan. Please note that this plan is for our own purposes and this is different from the one that we submit to the bank to get a loan.

Anyway, you may click the following links to refer my past replies;

https://www.citehr.com/241975-i-want...ml#post1109999

https://www.citehr.com/260478-starti...ml#post1181231

Strategic Marketing Plan

As far as getting right people is concerned, not getting them is a challenge that most of the Small and Medium Enterprises (SMEs) face. Every candidate wishes to work in the branded company and those who do not get chance to work in there, end up in working for non-branded companies. Nevertheless, each company has to pass through this phase. Since your sales did not pick up, you continue to face this predicament, even after five years.

For further queries, feel free to contact me. I might be able to provide my consulting services.

Thanks,

Dinesh Divekar
26th June 2017 From India, Bangalore