Year: 2021

For the first year of successfully running a business, most business owners are focused on survival.

However, as mentioned in our post yesterday, prioritizing the growth of your business via expansion is one of the best ways to increase the chances that your company will not only last but also contribute to your economic well-being and a stable financial future.

We will thus be treating 9 ways to successfully expand your small business to a big one through out the next 9 days. For day one, we will be talking Recapturing Your Existing Customer as one of the major ways to business expansion.

It is important to note that getting new customers is not the only way to grow your business. Many times, the customers you already have are your best bet for increasing your sales, and studies have found that improving customer retention also improves the value of a business/company.

Customers who have already purchased from you once are more likely to do so again, especially if they have a positive customer service experience. All you need to do is capture the contact information and shopping preferences of one-time customers. Then, use that information to set up marketing systems that we previously discussed in the past. This will convert them into repeat customers.

Today, ask yourself if you are getting it right with customer retention, if not work out ways to do this. We are happy to support you with this.

We remain your #numberone#businesssupport community.

Keep winning.

Hey ladies, happy new week.

The owner of “A smooth skincare” knows a lot about skincare. But she also knows a lot about business growth strategies. Each time a new product is developed, she uses her automated messaging system to call all of her regular customers, letting them know that it’s time to get some new glow oil- an example of a business growth strategy that any business can use.

This week, as we draw to the peak period in purchase by customers, we will share with you some tips to boost your sales strategy.

First on the list is selling to existing customers:
Increasing sales in an existing market is one of the easiest business growth strategies. You already have a head start with this growth strategy as once your business is established, it has regular customers, and, like most businesses, you’ve probably collected various kinds of information about them. The key to successfully increasing your sales in an existing market is to know your customers buying strength, both generally and individually.

The goal, of course, is to make your existing customers buy more. The data about what your customers buy, when and how often will help you make savvy decisions about stocking and marketing. You therefore need to actively collect data of all your business transactions between clients. This way , you will know which product , discounts , combination to put in the front of each existing customer.

Do you have a list of your customers? You can get started this morning..

Keep winning..

Good morning ladies , third step to make huge revenue this season is to
institute a buyer reward program. Such a program doesn’t need to be complicated. One way to do this is simply to offer your regular customers a straight discount on whatever they buy, such as 10 percent.

Another approach is to tie the discount to purchasing a specific amount, such as offering 10 percent off for every 2,000 naira a customer spends. (Printing cards or sending a an e-card that get stamped each time a customer makes a purchase is an easy way to do this.) Yet another is to offer other merchandise – smaller or sub products as rewards to frequent buyers. The key to success with any frequent buyer reward program is to make sure the rules are clear and applied equitably.

Remember, we are always here to support you all the way.

Hey ladies… we will be wrapping up on the series on Business growth strategies for increasing sales this season. Business growth strategies based on customizing sales effort according to individual customer buying histories can be very powerful. An individual customer’s buying history gives you insight into her preferences and attitudes and allows you to customise your sales and marketing efforts.

Think again about the example of the Skincare expert we gave on Monday. Because we (the customers) have a history of buying glow oil, it’s a safe bet we’re going to be interested in buying more. But it’s also a fairly safe bet that we would be very interested in buying other types of brightening skincare products such as soaps & cream . She would find it incredibly easy to sell us other skincare products off her – and here’s the best thing – we would be more likely to buy from her rather than any of the other seller. All she needs to do is customise her sales effort and direct those other glowing or brightening skin care products to us.

We all know that when you put something into the shopping cart on the Amazon site, for instance, on the resulting page you’ll see several other products listed under the title “Customers who bought _______ also bought”. Because the list is customized to that customer’s interest, the chance of a customer adding one of those products to the shopping cart too is high.

But you don’t need to have a website to successfully use this business growth strategy. All you need to do is search your individual customer’s buying histories and use the information to customize your sales appeals. Think “this customer has bought this and this. Therefore, she might also be interested in _______ and _______.” Then let the customer know about these other products, via social media or email.

Remember we are here to support you all the way.

Keep winning.

Welcome ladies to a new week filled with loads of opportunities to set things right in our business.

As we wrap up the year, we thought to repost bookkeeping strategies to close your accounts for the year. This week, we will be taking excerpts from our live session with Dayo Yakubu of @globusbankng, we will be following through with discussions on bookkeeping, a huge necessity for achieving the financial goals of our businesses.

To begin bookkeeping for your business, the bookkeeping transactions can be recorded by hand in a book or using a spreadsheet program like Microsoft Excel. You can also step up by using specialized bookkeeping computer programs to keep books that show their financial transactions.

You can also decide to engage the service of a bookkeeper or do it yourself and use the services of an accountant every quarter or annually to ensure proper balancing of your books(we suggest quarterly). To do it yourself, you need to decide either to use a single-entry or double-entry bookkeeping method to record financial transactions.

Keep up with us tomorrow, as we mention the differences between Single-entry or Double-entry bookkeeping.

In the mean time, today if you do not have a proper bookkeeping process, create an excel sheet or purchase a journal to begin recording your transactions as we take this ride.

Remember we are here to support you all the way.

Keep winning!!!.

Hey ladies, we are in that time of the year when everyone is extremely busy and after themselves, not how you feel. Some people are highly motivated and have little difficulty pushing forward with difficult work—regardless of whether or not they get results or are appreciated. But not everyone. Many people can’t stand failing or being underappreciated when putting in hours of hard work.

We’ve all had those days where nothing seems to go our way. The printer jams right before a big meeting. A client won’t call you back or ignores your call(we will talk about how to handle this someday). A client refuses to pay for a service you render . You spend 6 hours in traffic and the client does not understand why you did not make it early for the meeting.

“On days like this, it can sometimes help to look for small victories,”. “For example, let’s say you really need to send out a big presentation. It’s due by the close of business, but you just can’t get moving on it. Rather than staring at a blank presentation for thirty minutes, put the project aside and find something ‘bite-sized’ to do.”

When you look for small victories, you force your brain to stop automatically focusing on negative stimuli. This counteracts the negativity bias and helps you be more aware of the positive things that are happening.

We hope to share four more tips for this December.

Remember that we are here to #support you always.

Keep winning!!!.

The wonderful thing about being human is that you have the capacity to set your own goals and find joy in accomplishing them. In fact, you can foster self-appreciation. You have to set your own goals and track your progress.

Top entrepreneurs suggests that If your motivation comes from seeing how your work makes a difference, create a visual representation of that,”

When you do this, you’re able to create internal motivation. While this can’t fully replace positive encouragement from people, it serves as a small consolation to keep you going during desolate times.

Remember, you can do all you set to do..

Keep winning.

Hey ladies , still on ways to stay motivated when you feel underappreciated, especially in this time of the year, we will like to remind you to recognize the significance of your work.

At first, you may think a certain task is useless, but dig deep. You aren’t just making a sales call. You’re making a sales call in order to sell a product that will provide value for someone else’s business. Should they purchase the product, it’ll help them grow their business and support their family. It’ll also add to your company’s bottom line, which will lead to growth and new opportunities for you and your co-workers.

See how thinking through something as simple as a sales call can help you fully appreciate the value of your work? It’s something fairly easy that you can do with just about any task or objective.

We remain committed to supporting you all the way.

Keep winning..

Hey ladies , so far we have discussed ways to stay motivated, despite an overwhelming lack of appreciation that you may feel. Another important key to achieving this is to foster self-confidence , even when nobody else is giving you the encouragement you crave.

It’s also important that you do your part in building a workplace culture that prioritizes appreciation in your business

Here are a few ideas:

Make it a point to go out of your way to say something nice about your staff per day. It could be something as simple as saying, “I thought you did a really nice job on that decor. You should be proud.”

People like to feel needed. When asking someone for help, make sure you explain that you specifically sought them out because you know they’re good at creative design (or whatever the case may be).

If you’re working on a big project with a team of people, consider bringing in coffee, snacks, or lunch one day. A physical token of gratitude for hard work will lead to an instant boost in motivation.

Pay attention to the details. If you ask someone to send you some information on a specific client and they do so immediately upon returning to their office, thank them for being so speedy with the response. These little things rarely get noticed by others.

By making your workers feel appreciated in small ways, you can do your part of creating a new culture. You’ll notice that acts of appreciation become contagious. Before you know it, an entirely new culture could emerge, with motivation and happiness on the horizon.

Keep winning.

Hey ladies, welcome to the second working week in 2021. From the profile of many of our members , we realised that a lot of us still have our regular 9-5 job and are looking for ways to venture into our business. As our first post for the year, we thought to address the concerns of this class of people, before we roll out our business growth techniques for the year.

If you’ve ever thought about starting a side hustle, you’re probably motivated by one of three reasons:

It’s a hobby, and you’re feeding your interest during your free time.

You’re supplementing your primary income. Maybe you have financial goals you want to reach, and having an extra income source will help get you there quicker.

You plan to transition into entrepreneurship full time, so you’re testing the waters with a side hustle before taking the big leap and quitting your full-time job. 

Regardless of your motivations, you’re about to start a business. And the moment you expect people to start paying you money in exchange for value that you provide, you can no longer treat it as a passive endeavor. But when you have a full-time job—in addition to a life that you’d really like to enjoy—that’s easier said than done.

There’s a reason it’s called a side hustle: you need to work hard to make it a success. Follow the tips listed in this post to get you started.

We remain committed to supporting you.

Keep winning!!!