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Throughout this year, we have shared some of the best tips for growing your business in Nigeria’s peculiar commercial environment. We have discussed setting up, building products, connecting with customers, and boosting revenues. And we also went over some extremely useful advice offered by top corporate executives at this year’s edition of the Connect Nigeria Business Fair. 

In this article, we reveal our top five business growth tips for the year 2019. Hopefully, you’ll be inspired to begin implementing these strategies ahead of 2020.

Read more about Business Growth Tips

5. How to Build an Irresistible Product

Businesses thrive on the products they sell. High-quality products that solve real problems will bring in revenues. Marketing does play a considerable role as well, but its effect will fizzle out if the product it promotes doesn’t meet consumers’ expectations.

Building such a solution takes time, effort, and perhaps, more than a few tweaks along the way. In our article, ‘How to Build an Irresistible Product’, we walk you through the steps to make a product (or service) that can actually win you more customers.

4. 12 Ways to Use Your Business Cards Effectively

The staying power of business cards in our fast-changing business environment is a testament to its effectiveness as a tool for making valuable connections and kick-starting corporate relationships.

There are a lot of ways to make your business cards work for you. Perhaps many more than you can imagine. We’ve come up with a dozen such ways in our article, ‘12 Ways to Use Your Business Cards Effectively.’  

3. How to Measure Your Business’s Performance

Is your business growing? How do you measure its growth? Are you sure you’re measuring its progress the right way?

These are pertinent questions. Unfortunately, not every entrepreneur has good answers to them. The poor knowledge of basic enterprise management and growth-tracking has contributed to the failure of numerous SMEs and startups in Nigeria.

In our article, ‘How to Measure Your Business’s Performance’, we share tips for evaluating business performance. Those tips cover financials, customer satisfaction, employee performance, and personal satisfaction, among others.

2. Things to Do When Your Business Runs Out of Money

If you run a business, it’s likely that you’ve had cash flow issues at least a few times. How do you deal with such situations?

In October, we published an article containing suggestions for navigating the drylands of temporary (or reoccurring) challenges with cash flow. Here, we mention tweaks to business operations, cost-cutting measures, and fundraising measures that companies could adopt to get things running smoothly again.

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A more recent article lists alternative funding sources you could turn to when the money streams go dry for a while.

1. Work with a Mission that’s Bigger than Yourself

Unless there’s a compelling ultimate goal that inspires you, it’ll be hard to keep on if your business hits hard times. This isn’t just flowery language; it’s plain human psychology. Your mission could be all that motivates you to get to work when the money isn’t coming in, and when things aren’t taking the shape you want them to (yet).

It also makes us take customers’ concerns seriously. When they recognize that you’re a values-driven business that gets the job done, they’ll be more likely to stick with your brand.

Featured image source: Business of Esports

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This article was first published on 23rd December 2019


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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