Month: August 2020

Hey ladies, good to have you this new week.
Today, our Tip 3 of how to expand your small business is Keeping Your Cost in Check
Increasing your profit is very important to growing your business. If you expand your business but continue to increase your costs, you won’t actually have any money left to invest in your business or make a profit.
So while you’re looking for ways to grow, pay close attention to the costs associated with running your business and getting your products or services to customers. Lowering these costs can be an effective way to give your business the cash flow it needs to grow and stabilize. There are two main approaches to cutting costs:

Stopping the production of  low-earning products or eliminating low-performing services.
Improving your revenue through new marketing and sales tactics.

Identifying gray areas in your business and introducing new business techniques that will make your business process smoother, better and more cost effective. E.g If delivery service is a huge problem for your customers , considering that they have to pay for high delivery services within the state where your business is located, you can consider owning a branded delivery bike to help ease off extra cost for your customers. This gives you extra cash flow as well.

However, remember to be careful not to cut costs in a way that impacts your customer service or employee satisfaction. Happy customers and enthusiastic employees are both key drivers of business growth. Cutting costs in these areas will ultimately harm your business’ ability to expand, even if they give you more cash flow in the short term.

We wish you a fantastic new week as we win together. 
You can always reach out us for further information or support you may need for your business.
We remain your number one business-support community.

Too often small business owners forget this. They’ve spent some amounts of dollars placing ads in various places and figure that’s enough. Business promotion will take care of itself. It doesn’t. If you want to improve your sales figures or get more clients or keep the customers you have coming back, you have to actively work at business promotion all the time.
But promotion isn’t just advertising, marketing attending sales events; promotion is also how you present yourself. 
So how do you present yourself by being: Pleasant – to everyone.Attractive- in terms of your value , branding & offerings.Knowledgeable- Understand your brand strengths, brand sector, competitors and your weakness (to work on them).

1. Ensure Positive First Impressions – But remember, people take in new impressions about your business in terms of how it confirms what they already know about your business. To create an impression, your offerings must have been visible in some way. 

2. Promote your business everywhere you go-  Whether while shopping, on a phone conversation , always wear your business mantra. Do the people around you know what you do? Does your hair dresser know what you do? Be your business mascot

3. Take advantage of organizations and events to promote your business- Attending events and joining organizations like Business Women Hub gives room to network with other business people. We all know how to conduct ourselves in a roomful of others like ourselves. Do not also forget that by doing this, we could also be making valuable contact. Contacts are a real time contact. Talk to people wherever you go; show an interest in them and they’ll respond with an interest in you… and an opportunity to promote your business.

Today, determine to be Pleasant, Attractive & Knowledgeable. 

We are available to support you in doing the above, let’s hear from you.

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Having a business idea/being enterpreneurIal is a very great idea, however the dreams can become dead with lack of funding.

You probably need a website, you need to get your business registered, you need some office space- whether shared , full or virtual, a social media/tech team, at least enough cash to start production. All this means, you need money, regardless of what you are going into, most businesses and most entrepreneurs require at least a little bit of funding to really get off the ground in their early days.

During our live session with @lindaochugbua on “The Possibilities & Challenges of Accessing Funds for Small Businesses”, the highlights in this post were stated as the sure places for help in finding funding. Thus, check through for a first-time founder’s guide to where to look for funding, and choose which type might be right for you.

@businesswomen_hub, we have an avenue for funding via THE BWH ESUSU, or connect to our partner financial institution. If you require this support, reach out to 09084441671 or email businesswomenhub@gmail.com.