Sometime last week I wrote about self-investment, the importance of time management, taking out time to invest in yourself and it benefits for personal growth and development. An Investment deals with time and money, that’s every investment you make no matter how small it is involves spending time and money. Learning new skill has to do with money even if you sit in the comfort of your home to learn you still have to pay for it. For instance, you decide to learn new skills online which could be tag free, now two things get involved that is, you have to sacrifice your time first and then money to get Internet data this isn’t free, like I said earlier, something must go for it, it’s either your time or your money.
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You have a business plan for example like my Liquid soap business production which I’m trying to expand. And it’s one thing to start your business and It’s another thing to know how to expand your business because you have to make another plan different from what you had. And knowing how to expand a business is very important, that is, if you want to sustain your business’s success and your financial well-being and who doesn’t want success? Nobody. As the market continues to change and thereby having more competitors you have to replan and strategize more steps on how to improve your business and If you fail to grow your business, you’re at risk of being left behind.
Growth and expansion are vital goals for most business owners and entrepreneurs. The best way to accomplish this goal is to conduct thorough market research before committing any resources. Being able to reach the right target customers through the right mediums, and at the right time, this is the first step to expanding your business into to the market and The Internet is one of the best ways on how to reach out to your customers. And the next step is to look out for the best delivery channel on how your product can get to your customers.
(pictures of where I get my soap chemicals from)
I started my glasses business fully 2020, that’s 2 years now and initially it wasn’t growing like for a year, I mean, I wasn’t getting much profit because I was trying to get more customers so I had to sell much cheaper than any other competitors and so business went on and I thought to myself that I can’t continue to sell that way, I have look for other means to retain and get more customers and one thing that worked for me was referrals. When your product is good trust me people would definitely refer them to you and that’s a very important aspect of business that you should learn.
The next year 2021, I decided to expand my business and this period I was looking out for skills, not just skills but entrepreneurial skills that I can learn and monetize it and so I decided to learn how to make Liquid soup for domestic use. I invested my time and money because it wasn’t free and during this process I was still working. I did my market survey to know where I can get the best chemicals and I made several attempts till I got the perfect production process before I start selling.
(pictures of the liquid soap)
And now I want to expand again by introducing rebranding and repackaging. Before, I sell them in just normal cans without my logos and names on it and this entails using money to make more money and that’s investment. I see this as a step to progress because I know packaging and the way you present your product to the public matters a lot.
(How I package it)
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(How I intend repackage it)
Thanks for reading through
See you in my next post🤗