FREE MARKETING: How To Attract All The Customers You Need For Free!

FREE MARKETING: How To Attract All The Customers You Need For Free!
By
Basola A. Victor

In business and industry, you are paid based on your ability to sell the superiority or quality of your work to the people whose opinion is most important in determining your success (customers). Entrepreneurs who market themselves the most effectively move ahead far more rapidly in the business than others who do not, even though they may not be more talented and they may not be producing more or better product or services.
It’s all about marketing. How much of your business are you selling even in your sleep! If you have not gotten the idea I want to put across to you today then look at the topic again;
FREE MARKETING: Most entrepreneurs spend a fortune on expensive advertising that could cripple them even from the onset. Such expensive advertising may feed your Ego but it necessarily is not going to feed Your Bank Account.
There are inexpensive ways to attract customers. There are free ways to create visibility and you can even be paid for marketing yourself.
Here are three (3) specific strategies:
[A] SELL WHAT CUSTOMERS WANT AND ARE WILLING TO PAY FOR
Let’s assume you’re starting a new business or you have a great idea for a new product or service. It’s terrific, it’s creative, and it’s wonderful. It’s unique. It is probably the greatest idea you’ve ever had! Therefore it will sell right? Guess again.
The problem with this kind of thinking is that you are assuming your customers have the same wants, needs and taste and view of the world as you do. While that may or may not be true, to assume it’s true is taking a blind and dangerous risk.
“You don’t get rich selling what you love alone; you get rich selling customers what they want”.

A small town radio station in rural Mississippi was undergoing a financial down turn. The owner has spent a fortune on the station but could never make a profit. Why? He insisted on his station playing on the music he loved, Lawrence Wolk, Guy Lombard’s and soft instrumentals. The playing of rock, country and gospel music was forbidden because he didn’t like it. Well you can just imagine what size of audience that drew in a small mission town in the mid sixties. Few people turned in and because the audience was small, few people paid to advertize on the station.
On the other hand, a nearby competing station owned the market because the owner had a totally different mindset. He said “I hate listening to my station because I can’t stand the music, I just tell the manager to play what the people want and we keep making money.


[B] CREATE VISIBILITY!
In addition to selling what customers want, you need to get their attention and convince them that you are the best person to buy it from. To do that, you have to become visible. People can’t buy from you until they know you exist. Here are some strategies I use to create visibility for free of course.

i. WRITING :
Write an article or several articles and get it published in journals, magazines and news papers where your potential customers will read it. The article should be related to what you do and give readers some information that will help them solve a problem. Finally be sure to let them know how they can contact you.
Remember, writers are always viewed with high esteem and your customers will think you are the best or at least among the best. Well established papers might give you trouble but it can try your hands on upcoming ones and remember do it for free

ii. SPEAKING :
Volunteer to present a free seminar for a School, Organization Churches or Company that stands to benefit from your offering the information to their students or members. If participants include potential future customers, it’s another way to create visibility at no cost.
When you speak, leave a trail of tangibles. Pass out at least one piece of printed information that the members of the audience can take with them and that includes the name of your business and how to contact you.
It could be a wallet sized card, a pamphlet, a reprint of an article you have written or even your customer prospectus.
Whatever you leave, make it something valuable enough to potential customers that they will take with them for future purpose and you know what that means don’t you?
iii. GET INTERVIEWEED ON RADIO AND T.V
It’s not as difficult as you might think. Talk shows are on the increase and always looking for new guests who have something to say that will attract and hold an audience. The key to making it effective is to target the shows whose listeners and watchers are your potential customers.

iv. WRITE A BOOK TO DEMONSTRATE YOUR EXPERTISE
If your book addresses a problem or subject that interests a large number of people and it is well written, a publisher could buy it from you and publish it, promote it and distribute it for you.
Your visibility and credibility as an expert in your business will sky- rocket. You will be interviewed on radio and television shows. And instead of volunteering to speak, you’ll be paid handsomely which increases your visibility and sells more books. If you are an effective speaker, giving a good speech usually results in additional paid speeches.
In short you will find yourself being paid to market yourself.

v. ALWAYS GIVE YOUR CUSTOMER SOMETHING FREE EACH TIME THEY BUY FROM YOU :
Customers are always attracted to FREEBIES especially when it is given to them by the business they like buying from.
Create free products which contains your information; it could be a product packaging material like;
i. Branded Nylon
ii. Branded Hand kerchiefs
iii. Free service for their kids if you run a home service related business
iv. A free health club or information club where they can get helpful tips monthly for free just by buying from you.
v. Key holders e.t.c

vi. CREATE YOUR PROMOTIONAL MATEIRALS AND ALWAYS HAVE IT HANDY!
Your promotional materials are your mobile salesmen and you never can tell how far they can reach because people migrate. The materials e.g. your complimentary cards, ID cards, Stickers, Customer prospectus, handbills, flyers etc. could be your advocate someday, somewhere.
A prolific author and sales man Joe Girard once said “I shake hands with everybody, meet daily and every body gets a copy of my Business Cards.
Think of all the thousands upon thousands of people that Joe has shaken hands with down the years. Each one of this people have a material of Joe Girard. No wonder he is well known.

[C] GIVE YOUR CUSTOMER QUALITY PRODCTS AND SERVICES

Quality, prompt delivery of service and customer satisfaction creates a lot of referrals to you. A satisfied customer will not only come back but will bring other friends and partners to enjoy what he/she enjoyed from buying from you.
Never give out low quality products or treat your customers without care. When you lose them, you’ve not only lost them but all the money they would have brought. A happy customer becomes your unpaid advertiser. Likewise, an unhappy customer spreads the news like wildfire.

These are three ways you can create visibility and promote your business with little or no out of pocket cost for you. Of course, they really aren’t totally free. You are paying for the exposure with your time and with the hope that the visibility will translate into sales. From experience, that is worthwhile investment.

GETTING SPONSORSHIP FOR YOUR BUSINESS IDEA

These is the most important thought, question or even challenge every young and aspiring entrepreneur must face in his or her quest for business success. How do I get a sponsor for my Business Idea?
The idea is good, profit is guaranteed but you do not have the necessary cash to implement it. Well you are not alone as today, we will be dealing with this challenge and also get possible solutions, all I advise you to do is drop that “I have tried it before mentality and keep your mind open for fresh ideas as you go through today’s article.

Whenever my clients approach me with this kind of problem, (idea, No cash) I always and will continue to recommend the following steps which off course I have practiced and will still practice whenever I want to birth any of my brain child.

PREPARE A LIST OF YOUR POSSIBLE SPONSORS

Different companies and individuals have different areas of interests and they produce goods and services for different classes of people in different strata of the society. List out companies or individuals that produce goods and services in line with your idea or Business and will be willing to sponsor you. Take for example; our Television programme which is centered on Children, you would do well to list out Companies or individuals and also Government bodies that render services that targets children. You will want to meet companies that produce products like Indomie, Bournvita, Chi-vita, Ribena e t.c. You could list out Churches; NGO’s that Focus on Children, Children evangelical Ministries and Government agencies that cater for Children, Women and Youths alike.

Such Individuals, Corporate bodies and Non governmental organizations will like to participate simply because “Your Idea Targets their Target”

BREAK DOWN YOUR GOALS OR NEEDS INTO SMALLER ONES AND FIX A SPONSOR PER SECTION

This makes your goal and needs easily accessible, surmountable and achievable. If you are planning a TV programme as discussed earlier, you probably would need, Airtime, publicity before commencing the programme, Resource persons e.t.c
When you have broken them down, approach a sponsor per segment. If you do not have a sponsor that agrees to foot the bill. Sponsors can never be too much but not all of them must have a financial reward. You can reward them with Publicity/moral reward.

PREPARE A SPONSORSHIP PROPOSAL

A Sponsorship Proposal is like a business plan for your idea. It is a well documented detailed on the purpose of your idea or Business. How it will run, its duration, your target audience, benefits of the idea to your would be sponsors and above all, a detailed Financial analysis. You can write your Proposal like a Business Plan, type it neatly, spiral bind it and make it attractive.
“Please do not make photocopies; use a neat printer so as to give you a good Image”.
If for example, you are seeking sponsorship from a Bank or Corporate firm to Launch a Television programme for Children, your sponsorship proposal should follow the Format below;

i. Cover page
ii. Declaration by the board of Directors or Management Team
iii. Executive Summary of your company/Outfit (About Us)
iv. Management Team (who they are and their Capabilities or expertise)

v. THE IDEA
v Theme or Purpose of your idea (Its aim and objectives)
v Organization (How it will run)
v Duration of your Idea
v Proposed Date of Kick off
v Choice Television Station

vi. Benefits of Sponsorship
v Why should they sponsor you
v What will they benefit
v Would it be better if they kept their money in a Banks fixed deposit account.
vii Financial Analysis/breakdown

This must be detailed, no assumptions. Conduct your research very well and do not overshoot as they may decide to pay for the service themselves and if they discover the overshoot, they may decline.


APPROACH THEM

This is the most challenging part of the game, meeting face-to-face with those stern looking people sitting across the desk obviously not interested in what you are talking about. They probably are not looking at you, rather they want you to “Talk and Go”.
Before approaching your sponsors, conduct a survey and get relevant contacts and phone numbers. (Try as much as possible not to make a cold call). Call them and book an appointment or if possible send them a letter requesting for a visit to the company. They do not know you and they will likely give you audience thinking you are a prospective client. Of course, you are, do not disclose you intent on phone, it makes them prepare a defence. Make the call, reserve the appointment and go meet them armed with everything you think you need.
Always go first to the Head/CEO or most important person in the organisation that can take a decision, even though he has to redirect you to a lower officer in charge.
It saves time and energy rather than coming from bottom to the top. “Sometimes, your Proposal might get Lost in Transit”. Never go to any company and just drop your proposal with the Company secretary or receptionist, it will end up in the Trash can or probably, they could grab your idea and implement it without your consent.

Talk your Proposal through before dropping it and more still, get relevant contacts so as to follow up on them until you succeed. Be courageous, determined and keep trying for not all sponsors will attend to you initially.
A manager once opened his door to an insurance agent and said to him; “you can count yourself lucky, I have refused to see 7 insurance agents today”. The Insurance agent replied him smiling “I know; I am them”.

He got his appointment because he pursued his goal unflinchingly.

ASK FOR WHAT THEY CAN EASILY GIVE YOU WITHOUT FEELING IT

I always recommend this to young Entrepreneurs. Try as much as possible to put money behind you. If you are too money conscious, your sponsors will notice this in you and that will make them skeptical about committing their funds to you.
Always ask for service if possible. Take for example, if you approaching a Transport company and you probably need transportation for your “children” to and from a location; it will be a lot easier for the Transport Company to give you a Bus for that purpose instead of giving you cash. At least fuelling the Bus can come from a Petrol Station (another sponsor).
This is a very important principle; ask for what they could give you easily without feeling it. It’s like plucking a leaf from a big tree.

SHOW THEM HOW THEY WOULD BENEFIT

Human beings are naturally selfish and corporate bodies alike have a nose for profit. They would likely not listen to you if they will not benefit anything from your idea or Business proposal. If you can show your sponsor in clear terms how your Business idea will benefit them, they will listen to you. If your idea will make them better off, they’ve got no choice.
“If you need anything from a man, show him how it will benefit him and he can do anything for you.”

DOCUMENT AN AGREEMENT

Definitely, we all know that no Business transaction should be done without proper documentation or a mutual agreement. Meet a Lawyer to help you draft a simple but encompassing one. Your sponsors or would be sponsors already have the money and can carry out or implement your Idea if not well Protected. I have tried it before and my fingers got burnt. It’s a bad thing for you to see your idea being implemented by another person you went to for help. Your idea is your Brain child; Guard it.

APPRECIATE THEM

Yes! Send them a thank you Letter; Publicize them before and after the event. Send them a Branded Plague, card, an Award, Write about them in your Magazine or do anything that Promotes their Brand. It will keep communication lines open and you can go to them again.
Remember, Never you burn the Bridge if you intend to cross it again.

Till we meet again,
Go be the Solutions to your World!

About The Author

Basola A. Victor is the CEO of BASH Concepts International, a Business solutions firm dedicated to becoming a one stop source for overall Business development.
P: +234(0) 703-5121-346
E: bashconcepts@yahoo.com

MY FIRST DAY IN SHELL

HELLO everybody, it's been along time sicne you aqll heard from me. well i have been alittle busy offline but i got good NEWSSSSSSSSSSSSSSSSS FOR YOU ALL.
I HAVE JUST BEEN EMPLOYED BY SHELL as a Data Base Analyst (Big english) my job na to copy and paste. oops
i resumed yesterday 20th october 2008 and i met with my supervisor and good team members (Kayode, stella and bRidget.)
i am ecxcited and happy

Basola A. Victor
Master Data Team Warri

Shell

Life After Graduation, What To Do When The Job Is Not There

SMALL BUSINESS SOLUTIONS
LIFE AFTER GRADUATION; WHAT TO DO WHEN THE JOB IS NOT THERE
Basola A. Victor

A student’s dream and aspiration is to graduate with Good Grades and Get a Good/Dream Job that will put an end to all their life’s problems. Whenever they are asked about their life ambition, they are quick to answer “To Graduate, Get a good JOB and raise a family. Their definition of a Good JOB is one that pays them around 50,000-100,000 for a start and they will take nothing less even though they do not possess the equivalent expertise to justify the salaries they Crave for.
Amazingly, their Definition of a Good Job becomes a Mirage as the few available spaces are occupied and the GOVERNMENT minimum wage is a far cry from their Dream Salary. The lazy ones sit at home; blaming the Government and circumstances; but the dogged and tough take advantage of the situation and they forge Ahead. Do you fit into the picture above; are you a fresh graduate in need of a good job that’s eluding you? Then follow through, use the information that you need, discard the ones you do not need and do not forget to contact me when you are done.
“He who knows why will get a job, he who knows how will be his Boss”.

(A) LOOK INWARD

The reason most of us are Jobless after high school is probably because we went into school to study a course that was foisted on us either by our parents, JAMB, PRE-DEGREE or CIRCUMSTANCE. We did not really study what we like and will like to work with. Hence our certificates are mere “Rubber Stamps”. The real you is inside. The needed skills, gifts, talents and endowments needed to succeed are in you waiting for discovery. “If you can discover what you are naturally good for and stay there; you stop struggling. You just wake up daily and be your normal self?

WHAT DO YOU ENJOY DOING?

This is a question I often ask my clients and the answer provided often signifies the hidden wealth in them. Just imagine yourself doing that thing you love and people are paying you for it. You stop working; you start Enjoying Yourself and people pay you for Enjoying Yourself.
WHAT ARE YOUR NATURALL SKILLS
It’s almost natural for your inborn skills and abilities (which makes us distinct) to be in line with what you love. No matter how crude or insignificant or unsellable you think those skills are just get a sheet of paper and list them out. It could be Singing, Playing an instrument, Talking, Organizing of parties, Reading, acting, sports, Playing video games, Hair plaiting, Barbing and a host others. All we need to do is

POLISH THEM

If you have seen Raw Gold before, with your untrained eyes, you probably would have mistaken it for dirt or stones. Nothing is appealing and market worthy in its raw form. Those skills need HORNING. Yours could be Selling/Marketing. You’d probably need to work on your Grammar/speaking skills, people skills and learn some simple marketing tips that could help you. Yours could be to become a stand up comedian like Basket mouth; you don’t expect Nigerians to pay you now what they pay him. The difference between the two of you is Knowledge, Exposure, Development and Time.
You do not necessarily have to go to school before you polish your skills you can school yourself by getting yourself Mentors (People who have achieved what you want to achieve and are willing to help you), Good Books, Good Tapes, Watch other Good Comedians and learn everything you think you need.
“You will be the same person now and 20 years later save for the people you associate with and the books you read”.
Before you go on, I will suggest you put that your skill or ability of interest though what I call The ACID TEST.

CAN YOU DO IT WITHOUT MONEY?

If money is your primary aim of choosing your line of business then I bet you that business will not out live you. Your primary aim should be an inborn passion to express your gifts and talents to the world. Among Your Favourite pastimes there are some which you love doing and can happily continue doing even without pay for the rest of your life.
That’s the click, and amazingly, that’s where your Real Hidden money is; DOING WHAT YOU LOVE.

(B) LOOK AROUND

What is the basic need of your immediate environment, if your skill and talent is going to fetch you money, then it must solve people’s problems; it must create value. Wealth flows in the direction of value. Men will happily pay you if you solve their problem and meet their needs. So your Talent/skill must be centered on a need of your environment and I bet you if you can find out that BASIC NEED that naturally suits your skills, then you are on your way to WEALTH. If you can find a need and meet it customers will knock down your Door.
Probably or possibly, person’s or companies have been meeting those needs before it is now left for you to identify what the people Crave for that those existing companies are not giving them.

HOW CAN YOU DO IT BETTER

There is no fun in going into an existing line of business and doing it the same way. It is going to be boring and less profitable. People crave for new ways of doing things. There is no entirely new idea, only a Rebranding and Repackaging of old ones.

(C) GET A BUSINESS NAME

Your business name should not be organized or gotten in a hurry. Your Business name should be meticulously thought out for it will make customers want to know more if well crafted. Your Business name must create a stir or raise a gossip. A business name gives you class, it becomes your Brand. If a customer is provided with two options Okere Community bank and Eagle Flight Micro Finance Bank, two banks, same services, different names; your guess of his choice is as good as mine. It is not a must that your Business name must be your name and that of your wife or Brother. Think of something exquisite, something sizzling that connotes class and your name will soon become a song on your customer’s lips. If you are going into the clothing line instead of Madam Comfort Boutique how about DRESS RITE or SEW TO FIT; you know names that will sell your idea immediately.

(D) REGISTER YOUR BUSINESS NAME

It’s cheaper now to register your Business name with corporate affairs commission than ever, it’s now 5,000 naira to do a business name registration and this enables you to open a corporate account in your business name and makes you a recognized corporate body by the Federal Republic of Nigeria.

(E) PACKAGE YOUR CORRESPONDENCE

Ø Your Office.
Ø Advert Banners/ T.V Jingle/Newspaper Averts.
Ø Complementary Card.
Ø Flyer and Handbills.
Ø Bill Boards etc.
Don’t be scarred or frightened about the big things you just saw. I know the question on your mind. How do I get the money to do all that, yes I know you are a young graduate.
“The most important thing you need on that list for now is your Complimentary Card”.
Try as much as possible to print a Complimentary Card that will provoke enquires. It must not necessarily be expensive but it should be a Complimentary card not a complimentary handbill, simple, precise and beautiful.
Talking about on office what I will advice you to do is;

CONVERT YOUR DWELLING PLACE IN A PROFITABLE ASSET

You already have an office just separate your house, put a table and chair some where and hang a Notice inscribed “OFFICE” with your business name attached. Weird you might think but most of the great brands you see today stated likewise until you grow enough to rent a befitting and well located Business premises.
(F) SHOUT IT LOUD
If you have extra money after printing your complimentary cards, you could afford to;
Ø
DIRTS KILL
Let us kill’em before they do

CORPORATE LAUNDRY

07035121346

Corporate laundry@yahoo.com

# Suite 001 Elshaddai House, Abraka
Business Advice to arrest their Interest
Your Business Name [in another Colour]
Phone No
E-mail
Office AddressPRINT small Banners with your business Name, an advice and your Business INFO, you can have something like this;







Then HANG IT AROUND TOWN; at busy Junctions popular spots etc.
Ø
I HAVE KILLED MY DIRTS

“Thanks to”

(CORPORATE LAUNDRY)

07035121346 / corporate laundry@yahoo.com
Boldly InscribedPRINT car sticker and Give to your customers as they patronize you; something like.




Ø Print your Name on you best shirts and wear them when ever you are going out for business.
Ø Always carry your publicity materials wherever you go;
You never can tell where you’d meet your clients so always arm yourselves with your mobile sales men (your publicity materials).
They can travel far you know.

(G) BE THE BEST
Your company should never stop learning, improving growing and innovating. You need constant growth and improvement to be the best in your field and Remain tops. Remember, the higher the quality, the higher the demand and this means that your sales will sky rocket if you step on your quality.
Till we meet again, go practice these simple steps and do not forget to write me, your questions will be answered and published.
Go be the solution to your world.
Basola A. V

ABOUT THE AUTHOR
Basola A. victor is the CEO of BASH CONCEPTS international, a Business solutions firm dedicated to becoming a one stop source for Overall Business development
Phone No: +234 (0) 7035-121-346, 0807-8957-783
E-mail: bashconcepts@yahoo.com
Website: www.basolavictor.blogspot.com

TEN RULES FOR BUSINESS SUCCESS

TEN RULES FOR BUSINESS SUCCESS
BASOLA A. VICTOR

1. Find a human need and meet it. It is the surest path to wealth. Meeting that need should fall in line with your passion. Only passion, true passion can give you the needed drive to overcome the hurdles on your path to wealth and success.

2. Always Sharpen your Axe (Increase your ability to earn). You will be paid in proportion to how much you know and the application of what you know to solving people’s problems.

3. Learn everything you need to set sail in your business. It saves time and money

4. Value and always SATISFY your Customer, without them you have no business.

5. Have a Business Plan no matter how small you intend to start. Only a Mud House is built without a Plan and I believe that’s not the kind of Business you are grooming.

6. Always give good and quality goods and services to your customers; else they won’t come back and they will tell people who will tell more people about your low quality products and Vice versa. Quality speaks volumes and your customers will become your mobile adverts.

7. You don’t wan to start with credit facilities that will tie down your capital and cripple you from the outset.

8. Shout it loud and tell more people about your business. Marketing can never be too much for your business.

9. Seek new ways to improve your business idea. Men needs new ways of doing things, Fascinate them and they will keep coming.
10.Do not use your business to keep unskilled family members engaged; else they will turn your business into family meeting.
Till we meet again, Go be the solution to your World.

About The Author

Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.

For your Questions and Enquiries Contact;
Phone +234 (0)703521346, 08078957783
Email bashconcepts@yahoo.com

HOW TO WRITE A WINNING BUSINESS PLAN

HOW TO WRITE A WINNING BUSINESS PLAN
BASOLA A. VICTOR

If you fail to plan, you are on your sure path to failure……
Before you start any Business of whatsoever magnitude, no matter how small/big it might seem, you have to get it right from the first brick, else you are setting up an already collapsed building. Only a mud house is built without plan and I believe that’s not the kind of Business you are grooming.

A Business plan is a working plan that describes the fundamentals of your Business Idea and provides the fundamentals of your Business idea and provides financial data to show that you will make “good money”. Whether you are trying to attract investors or you are creating a blue print for your own use. Your business plan must be workable and appealing.
A winning business plan follows (but not limited to) the following procedure;

1. A statement of the purpose of the business (mission and Vision statement)

2. A detailed description of how the business will work; including what your product or service will be; whether you will have employees, who will supply the necessary raw materials and where you will best be located.

3. An analysis of your market, that is who your customers will be and a description of your Marketing Strategy (How your Business will reach plenty of customers) and fend off possible competitors.

4. An evaluation of your main Competitors and your competitive profile. Stress the advantage of price, quality, warranties, service and distribution. Include your Operational and Management strength.

5. A Resume setting forth your personal Accomplishment or that of your management team.

In the eyes of the investors, the quality of the management team often determines the potential success of the company or success. Consequently, this section should cover career highlights, accomplishments and positions held, with an emphasis on good performance records. Describe how the ream has worked together in the past and include their resume.

6. A detailed financial information including your best estimates of your startup cost, revenue, expenses and above all, your “ABILITY TO MAKE PROFIT”.

7. A persuasive request for funds (if you need external aid)

Finally, every part of your Business plan should reveal the beauty of your business idea. You want to show potential lenders, investors or people you want to work with that you have hit upon a product or service that customers really want.
Never you “Start a Business Without A Business Plan.
Till we meet again, Go be the solution to your world.

About The Author
Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.
For your Questions and Enquiries Contact;
Phone +234 (0)703521346, 08078957783
Email bashconcepts@yahoo.com

WHY MOST NIGERIAN BUSINESSES FAIL

WHY MOST NIGERIAN BUSINESSES FAIL

Basola A. Victor

Good day readers, I hope you have been enjoying this column and you are most importantly applying the principles that pertain to your growth and success.
Today we will be looking at a very pressing issue; Why most Nigerian Businesses Fail. Why are most Entrepreneurs and companies folding up, what is it that they are not doing right?
No one actually starts a Business to fail. Successes is just a matter of doing the right thing at the right time and if your Business is not going as well as you probably want, you will want to run through these reasons and make amends where necessary.

1. LACK OF VISION

Most young and aspiring Entrepreneurs do not see beyond their nose. They are probably concerned about the now the profit they are making now. A Vision is your Dream, Goal and Plan for your Business for a span of 10, 20, to 50 years.
Are you building a Business that will outlive you or are you building a Sole Proprietorship. As we all know, sole proprietorships die after the demise of the Proprietor.
A good and exciting Vision for your company will bring you to the drawing board to plan ahead. Like I always tell my Clients, Only a Mud House is Built without a Business Plan. People do not buy neither do they inherit mud houses, they are usually demolished when the owner is no more. I believe we have dealt with How to Write a Business Plan in previous editions of this column but you can contact me if you need help.

2. LOW QUALITY PRODUCTS

The quality of your product or service will speak for you long after the price is forgotten. If you try to compromise the quality of your product or service because of profit r quick cash, you are only succeeding in BURNING THE BRIDGE between you and your customers. If your product is good, your customers will sell them for you, but if is bad your same customers will spread the message and you will be out of business in no time.

3. POOR CUSTOMER SATISFACTION

The customer is the Boss; he can decide to Fire everyone including you by simply taking his Money elsewhere. Without the customer, you are out of business already. Never you get so proud as to think that you are doing your customer a favour by opening for Business. Make it a policy in your firm and hang it everywhere in your workplace that the customer is King. Any of your Staff that compromises this Policy shouldn’t be your Staff in the first place.
Whenever you are designing your product or service, it will do you a lot of good if you can sit down and find out what the customer really wants faster than your competition.
Amazingly, they can even help you provide the answer. Just give them a Survey Slip to fill when they patronize you.
An example is seen above. Pamper and spoil your customer, they are the life lines of any successful Business.

4. POOR MANAGEMENT AND SATFF POLICY

As an Entrepreneur, hire the best hands, though expensive, it pays off on the long run. Do not Hire Wheelbarrows who will need pushing all the time and will not move whenever you are not there.
Another thing you should endeavour to put in your Staff Policy is the Training and Retraining of your Staff to increase their competencies. Trainings on Customer Relations, Relationship management, Public Relations e.t.c must be made compulsory for all your Staff from your management staff to your Driver and even the Factory worker. Always hold Management Retreats with them and constantly SHARE WITH THEM THE VISION of your Company. See your Staff as Investors and Partners not as mere tools for achieving your goals.
As for Salaries, please and please Pay your Staff adequately well as the Budget permits. A wise man once said If you pay peanuts, you get monkeys. Remember, a satisfied Customer is a sign of a happy staff. That means Customer satisfaction begins with Staff satisfaction, how amazing.
Finally, do not use your Business to keep unskilled family members and Relatives busy else they will turn your Business into a Family Meeting.

5. INADEQUATE MARKETING AND ADVERTISING

Nothing happens until a sale takes place says Red Motley. It is the sale that initiates the entire production process. It activates Business and factories, provides jobs for the employees, pays salaries and wages, pays taxes and dividends and determines the entire direction for your business. How then can your products be sold if people do not know about it. Shout it loud, employ every means possible, use every means possible, use cheap Publicity, be in the news always and your products will fly

6. INACCURATE RECORD KEEPING SYSTEM

This is a major flaw of most young Entrepreneurs. Poor record keeping system. I would advice every Entrepreneur to study great firms and see the level of Record Keeping being employed. From staff prospectus to customer inventory, history and most importantly your Financial Records. You must document everything. The faintest pen is sharper than the sharpest Memory. If you are seeking external Financial aid, the first record you are asked is your Financial records. They want to see your profit and loss margin; so document everything.
Again pay yourself Salary also. This helps to separate you from your Business venture and keep your hands off the accounts.
A Chinese proverb once said no matter how far you have gone on the wrong road; once you discover turn back.

Till we meet again, Go be the solution to your World.

About The Author
Basola A. Victor is a Marketing Expert and a Business Consultant. He is the CEO of BASH Concepts International, a Business Solutions Firm dedicated to becoming a one stop source for overall Business Development.
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