This is not my regular post, but it's something i know is worth sharing here.
Business: An overview
You don’t have to own a large store before you call yourself a business person.
Any task, duty, etc. that could be converted to financial wealth is a business. It involves trade.
You can trade your writing skills to get money. You can share valuable information in exchange for money. If you have an idea, dream, or vision that can be made into reality by financial influence, then you are in business already.
The truth is that everyone is a potential business person.
Any task, duty, etc. that could be converted to financial wealth is a business. It involves trade.
You can trade your writing skills to get money. You can share valuable information in exchange for money. If you have an idea, dream, or vision that can be made into reality by financial influence, then you are in business already.
The truth is that everyone is a potential business person.
Self-Improvement: your Business and You
There is no way your business will grow if you don’t make conscious effort to develop yourself. The growth of your business is a function of your growth; mental growth, emotional, etc.Life is governed by principles; sowing and reaping, karma, and so on.
Briefly I’ll be highlighting some essential principles to take note of in running your business.
1. Start Small
The big/tall trees all started from a little seed. Never wait till you have all before you start. Don’t be scared to start small. Do not despise your little beginning because all big things started small.
2. Originality/High quality
Common services, stereotype services get common customers. Be unique. Don’t copy. You have a great capacity to be creative if you look inside you.For instance; the main reason why many blog owners are doing badly is because they copy contents. Same goes for general business; if you copy, you will do badly because you didn’t conceive the idea so you can’t know the way around it.
3. Seek Knowledge (Research)
What you know will determine the extent you can go. You can never grow above your knowledge. If you feel/think you know much, you are on your way to Failure Island. Ask questions from experts, try out some experiments. Make efforts to improve your business by getting valuable information.4. Goal Setting
Setting goals is a very fundamental principle. The main reason why some businesses remain stagnant is because there is no vision/core value. They just live each day as it comes. It is very bad. When setting goals, you must have a reason behind it. A goal without a purpose is like a plane without a pilot; it goes nowhere.You must have heard of SMART goals:
S- Specific (It’s better to write “I will establish 5 local branches of my mall in Lagos within 6 months” instead of “I want a successful business")M- Measurable (Short, medium or long term)
A- Achievable (Are you well equipped to meet that goal)
R- Realistic (Don’t begin until you count your cost)
T- Time bound (There must be a deadline to meet that goal)
Remember, goals without actions are mere wishes.
5. Map Out Plan B
Never test the depth of the waters with both foot if you use both foot, you must be holding Unto something.As we watch in movies, the ‘good guys’ always have a plan B that makes them victorious. Alongside your main plan, map out an alternative plan that equals the main plan.
6. Implementation
This could be one of the major problems of Nigeria. It is not enough to have the business idea, vision, goals, policies, etc. If you don’t act on it, it is as good as not having one at all.
7. Consistency
The slow and steady wins the race; but the fast and consistent works more wonders. If you start and don’t end well, it doesn’t count. To remain in the game, you must keep up on whatever you are doing and also improve on them.You can’t be cold today, hot tomorrow, and then cold again and expect to make an impact.
8. Take Risk
Most entrepreneur/business person screams it but very few actually apply it. Taking risk is not the same as acting foolishly. Your risk should not be such that will cause a major blow on your business. Take wise risk.9. Positive Mental Attitude
This is one of my favorite. “You are what you think; your confession is your possession, etc.” They may sound like common quotes but actually these are life principles that go a long way in making you.Always think, act, and talk positively in all situations. If you do otherwise, there is a huge probability that you will attract a negative aura from somewhere in the universe.
10. Enjoy it (have fun)
If you don’t find a way to enjoy what you do, one day you’ll get bored and may decide to call a quit.11. Attitude (You before your product)
You know how it feels when a store attendant rudely talks to you. Personally, if I pay for your service and you don’t know what it means to show respect, I won’t call on you again.There is a popular saying that customers are always right. Make effort to calm your customers, make them smile. Little things like this matter a lot. Your attitude can either cause Conversion (s) or bounce (s).
Plus One
God factor
This is a personal addition. Always put God first, it gives you an added advantage over others. I know what I’m saying ;)In all, measuring your progress in business is very important. Set a periodic time for evaluation; weekly, monthly, yearly depending on the nature of the business.
OVER TO YOU
Do you own a business? What are your best practices that helps engage you customers?
Best Regards
Ologundudu Abraham
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