Easy way to grow your business
Many businesses in Nigeria run at a loss because most managers are not up to date with trends that can help skyrocket their sales. It's true that the world as we know it has grown to become a global village which means more proactive measures have been used by marketers and business owners/managers alike to boost their revenue.
Here are a few tips to growing your business.
1. Know your business: A lot of people venture into businesses, sell products and offer services they know little or nothing about. To stand out from the competition in the matket, it becomes imperative that you "Know your business". Know the "Modus Operandi" of the business you wish to venture into. This includes know the following
a. Capital required to start(For beginners)
b. Consumer perception about the product you sell or service you render
c. Probable return on investment
d. Risks associated with the business e.t.c
2. Consumer taste/Satisfaction: You'd not have anything to sell if you don't have people who are going to patronize you. Every business revolves around this key fact. To actually succeed as a business owner, you must understand that the needs of the consumers must be put into very serious consideration.
3. Build a brand name: Your unique selling proposition makes you stand out from contemporaries in business. Try to build a brand, and thi means having something unique which your business stands for. Apart from the fact that you sell products or offer services, efficient services delivery and good customer-relations may just be the added advantage you'd have over your rivals.
4. Know your Rivals: Business, to a reasonable extent is a competitive venture. The reason being that, the business you want to venture into may have one or twho peiple as its major players. To succeed, you must know them, study their habits, pitfall so you'd not make their mistakes as you head towards making a name for yourself.
5. Be positive: A possibility mentality is very essential for any business to thrive. As a business owner/ manager, you must a positive mindset. This will make you see endless opportunities and effectively harness them.