Wetin dey happen, boss? So you wan make your business blow, abi? E no easy for this Naija hustle, but no fear, we dey here to ginger you. Many people dey try to start business, but the main wahala be say dem no know how to make am grow and last long. This guide go show you how to build something solid, something that go stand test of time.
1. Know Your Business Inside Out
First thing first, you gats understand your business like your own pocket. Wetin you dey sell? Who your customers? Why dem go buy from you and not from competition? You need to sabi this kain details. E dey like you wan chop, you gats know wetin you wan chop and if e dey sweet your belle.
1.1. Sabi Your Product and Your Customer
Make sure your product or service get value. E must solve a problem for your customer or make their life better. Don’t just sell something because you like am. Ask yourself: who go buy this thing? How old dem be? Wetin dem like? Where dem dey? The better you know your customer, the easier e go be to give dem wetin dem want. For example, if you dey sell food for Lagos Island, you go need to know if your customers dey busy traders wey need quick chop, or office workers wey want fine dining for lunch. This sabi go help you price am well and advertise am well too.
1.2. Check Your Competition Well Well
Who else dey do wetin you dey do? Wetin dem dey do well? Wetin dem no dey do well? You no need to copy dem, but you need to know their strength and weakness. Maybe dem dey sell for high price, you fit sell for moderate price and still make profit if you manage your cost well. Or maybe dem no dey deliver, you fit start delivery service and win customers.
2. Build a Strong Foundation (Structure and Processes)
You no fit build big house for ground wey no strong. Your business need good structure. This means having clear roles for people, clear ways of doing things, and good record keeping.
2.1. Get Your Paperwork Straight
For Nigeria, e dey important to register your business properly with Corporate Affairs Commission (CAC). This dey make your business look serious and professional. E also dey help you open business account for bank and avoid wahala with government later. You need to keep records of your sales, expenses, and everything. This go help you know if you dey make profit or loss.
2.2. Make Your Work Flow Smooth
How things dey happen for your business? From when customer order to when dem receive am, wetin dey happen? Map am out. Find where things dey slow down or where mistake dey happen. For example, if you dey receive many calls for orders, maybe you need to get a system to manage them, like a simple app or even just a dedicated notebook for orders. Or if your delivery dey take too long, find a way to make am faster. Small small changes fit make big difference.
3. Make Your Money Work for You
Money na blood for business. You need to manage am well. E no dey too much to get steady cash flow. If you no get money, your business go die. Many SMEs for Nigeria dey fail because dem no sabi manage money.
3.1. Budget and Track Your Expenses
Make a plan for how you go spend money. Know wetin you dey spend on. Separate your personal money from business money. If you dey spend too much on unnecessary things, cut am. For example, if you dey spend #50,000 every month for generator fuel, maybe e go better to invest for solar power if possible, even if e cost more at first. You go save money for long run.
3.2. Look for Funding Wisely
If you need money to grow, know where to look. Banks dey for Lagos and Abuja, but dem like collateral wey many small business no get. You fit check for government programs like Bank of Industry (BOI) or SMEDAN. Angel investors and venture capitalists dey also for Nigeria now, dem dey look for businesses wey fit grow fast. But make sure your business plan dey strong well well before you approach dem.
4. Reach More Customers (Marketing and Sales)
You fit get the best product for the world, but if nobody sabi am, you no go sell. You need to tell people say you dey for business and make dem want buy from you.
4.1. Use Social Media and Digital Tools
These days, social media like Facebook, Instagram, and WhatsApp na free market. Post your products, run small ads, and talk to your customers online. Many Nigerians dey online. You can even use WhatsApp for customer service and send daily updates. For example, a small fashion designer for Aba fit post pictures of their new designs on Instagram and take orders via WhatsApp direct message. This dey reach customers far and wide.
4.2. Build Strong Customer Relationships
Make your customers happy! When customer happy, dem go come back and tell friends. Give them good service, listen to their complaints, and try to solve their problems quickly. Remember, loyal customers na better than new customers wey you still dey chase. Small talk before you talk business, ask about their family, e dey build connection. This na important for Nigerian business culture.
5. Innovate and Adapt
World dey change everyday, market too. If you no change, you go fall behind. Be ready to try new things and improve your business.
5.1. Watch Market Trends
What new things dey happen for your industry? Wetin customers dey want now? Maybe people dey prefer digital payments now pass cash. Or maybe new technology fit make your work faster. Keep your eyes open and be ready to change.
5.2. Learn and Grow
Never stop learning. Read books, attend seminars, or even talk to other business owners. The more you learn, the better you go fit run your business. E dey important to keep improving yourself and your business so you fit grow well well.
So there you have am, boss. This no be magic, e be hard work and smart thinking. If you follow these steps, your business go grow strong and last long. God bless Nigeria!
