We once wrote about a fictional story of event where we are asked to select one million dollars and a date with Aliko Dangote, The African richest man. Many people choose money over a lifetime opportunities. Those people are of opinion that they are already established both need huge capital to sustain and expand their dreams. It's not bad idea but how productive and lucrative is that their business is? How sure that their business or venture needed money, not ideas to grow.
To me, their choice is good to their eyes but very myopic and limited. I believe on ideas that work. Sitting with him will offer several advantages. One of the strategies for business to grow and expand exponentially is to have a mentor. In Nigeria, Igbos are known for great business acumen and hardwork. The secret behind this success is their apprenticeship where boys serves their masters for a period of years. During this period, they learn and behave like their masters. They are acquainted with where their supply chain started from and how cheap to get their goods and wares. This idea does not come easily but from experience. Their masters have been in that business or venture for many years and gather a lot of experience. They quickly passed it over to their boys and see how they thrives. They cautions them whenever they take wrong steps and help them to bounce back for their growth. After those years, they are settled with capital and shop to start their own. Being grounded in the business terrain, they will survive and thrives. Many Igbo business man and woman passed through this process and become very successful.
Entrepreneurs knows when to invest and earn more money from the hustle. Naive ones get messed up in the process and loss their capital. They avoid ostentatious buying but get the real and durable one. Entrepreneurs spend from their profits, never from their capital which is a good act. Money beget another money so when one eats up the hen, how will one get profits from the venture? Investment provides dividends which can be used for sustainability or more investment. Entrepreneurs knows this and use it for their growth and expansion.
Cultivate a good business relationship. Communication is the key for every successful transaction and services. Be friendly with your clients. Although they might be stressed, they insult and talks in disagreement for their gains. Rather than replying harshly, cool down and explain better to him. Talk to them as your friends. Not bad to know their house, a visitations can open up the best part of the discussion.
Get quality products and services, but cheapest bring in more customers. Successful entrepreneur focused on creating utilities and welfarism than instant gains and profits. With more utilities provided, they will depend on him for more products and services, hence more money for him while their welfare acts as if their concerns is the main target but it is actually their money, they are after but created huge customer base for more expansion and stability.
They fight hard to protect their brand and improves it at all cost. With well packaged, they can sell everything and at any price. That's a good entrepreneurs focus. They work on the labels and the name of the brand. Seek opinion mostly from their target customers and adjust to fit their needs. When understand that when they add value to their lives, the their breakthrough which always result positively.
Marketing strategies are adopted to get the products and services into the hands of their customers. Know your customers well and strategies ways to sell the product and service to them. Use of social media and digital presence now makes it more easier to drive tariff and more sales. Get more ambassadors and Influencer talks about your products and services makes a magic and increase the sales and volume of trade within some times. Companies like Coca-Cola spent huge amount of money for marketing and get it back tripled in profits and get their brand known worldwide.