Some Basics of Business

I have to say that posting every Friday is not quite the easy task it started out to be! Imagine writing a daily blog! SHEEESH! Anyhow we got quite response from the last post about a common sense approach to starting out a business in Nigeria and I’m looking to round that off this week. The 33000 post is now available in YOU TRADE magazine from the 18th of January. http://www.youtrade-ng.com .

BUSINESS NAMES; Choose carefully because putting together AMINU, BIMPE and EMEKA to form AMBIEM might seem like a great idea at the time but you have to see your business in twenty years time. Your name should not only be a reflection of your values but also a great way to advertise what you do. (Although AMBIEM would be great name for a company selling lights!)

YOU ARE NOT THE CUSTOMER; Just because YOU like your product and you’ve sold to your aunty, cousin , better half and your mom DOES NOT validate your product. Survey the market outside of your comfort zone. Create a simple questionnaire asking relevant questions of potential customers (100 copies to start).Opinions cost nothing and will easily help with strategy and customer awareness for you service/product.

WEBSITES; THINK GLOBAL. Microsoft, KFC, Krispy Kreme, Google and so many others are companies that started small. Look online and find a site you like. Show your web designer and make sure your website reflects your service/products clearly. Your website is how the world will first see your company.

BUSINESS CARDS; most clients will NEVER see your office. Your website and business cards must be of the highest standards. The client is looking for every reason to walk away so you must give him every reason to stay.

MULTIPLE INCOME STREAMS; your business MUST make money in more than one way. It Must. Think THISDAY NEWSPAPER. From a simple daily paper to a nationwide brand; award shows, scholarships, music events, events centre. Look deep into your business and find every way to increase your income.


QUOTE OF THE WEEK; Business is never so healthy as when, like a chicken, it must do a certain amount of scratching for what it gets …Henry Ford

P.S. Big thanks to everyone that takes time out to read this stuff and even better for replying.

Looking for PHONE NUMBERS, WEBSITES and ADDRESSES of companies in Nigeria? Text THE COMPANY name to 33000.E,g BRITISH AIRWAYS to 33000.