Do you own a business in Nigeria? Are you a hoping to succeed in Nigeria? Do you have heights you would like to access? Are you hoping to have certain things work for you despite Nigeria’s economy? If this sounds like you, be rest assured this article was tailor-made for you.
Success is a word that everyone becomes familiar with as they grow . People either feel like they are not doing as much as they should or that their efforts are being thwarted by the economy’s depletion.
Being successful at the things you do can be very satisfying and flattering, whether it’s in academics, career or even in relationships. Success is a word that everyone wants to be associated with and any one who has exceled at something knows that it is not just a random act. Thoughts, processes and actions are put into play to enable dreams come true.
Entrepreneurs and owners of small businesses are two sets of people that are most noticeable in Nigeria. People hoping to make it big either go into the industry (movies and music) or make efforts at succeeding as entrepreneurs. However, some people go into businesses blindly and quickly run into a walls, obstacles and barriers.
Here are some success tidbits we can share to help you do excellently in business, in the Nigerian economy:
How to be a Successful Business Owner in Nigeria
Most people are either owners of small businesses or a part of an organisation or company that was already established and is already running. Whatever the case, the principles of business growth and progress remain the same and are guiding anyone who pays attention to it. Some of these principles are outlined below:
- Identify Your Niche
Many people’s businesses suffer because they want to do any and everything and like the jack of all trades, they truly become the master of none. Identifying your niche will help you understand your market and know your competition. This will give you an opportunity to expand properly and grow your business well as well as drive you closer to success
- Have a structure
Many businesses fail because of the lack of organization or structure. The lack of structure allows many things to fall through the cracks and records are lost resulting long term in a loss, folding or loss.
- Maintain good customer service
Whether its in a big firm or a small business in Nigeria, build and maintain good customer service. Anyone who forgets that their reason for remaining afloat is their customers is heading downhill very fast. Treat your customer’s need as important and paramount and always remember that they matter.
- Cut business costs
While this can result in a lot of growth, success and a boost in profit, remember to be fair to your customers and not give them substandard products because of your pursuits. Do what is relevant for the success of your business and the satisfaction of your customers
- Word of mouth
“Spread the good word, I own a business”. Tell someone to tell someone the things you can do if you already work in an organisation. Whatever it is, spread it and tell people. You never know, the next big deal might be around the corner. Do not sound desperate or boastful, be courteous and polite yet firm. It will grow your business when someone knows.
- Build your online presence and expand online marketing
Businesses now are moving online and its a great way to market. A lot of people are becoming digital and this is helpful to showcase your product and expand your client base, marketing online will boost your business growth and give exposure.
- Update your business plan
As your business grows and expands, update your business plan to include and accommodate your new growth curve. To succeed in business in Nigeria, you have to have a business plan. A business plan helps you watch and monitor the progress of your business
- Prioritise family
Many people succeed at one end, either academically or in their businesses and fail terribly when it comes to their personal relationships and family life. A truly successful person has a firm grasp on all aspects of life and runs it and manages it well and although it can prove rather tedious, its very achievable. After all, we do it all for family right?
- Learn on the go
Remember that sometimes we make mistakes, lose people, lose valuable things and are wrong. Don’t despair and stop trying just because you have made mistakes and hurt people and done things that are wrong, or have had hurtful things done to you. Learn both from your experiences and those of other’s. Learn all you need to enable you do better next time.
- Stay committed
Focus your energy. Put your strength into the things that you do and remain consistent. Consistency is a sure way of arriving at success, many people let go a little too early and do not have the attitude of consistency. Stay committed and push your business even when it seems not to be progressing at the speed you want.
- Stay positive and have fun
Positivity and a happy attitude is vital. Some people get so carried away by how hard they are working to make things right that they are sad company. Keep a light attitude and stay positive. Let nothing weigh you down. Just enjoy the process, success is right around the corner.