There is a rise in the number of people who leave the corporate world to become their own bosses. It may be because they are not just cut out to be an employer or they got fired or they just long to have a taste of what
entrepreneurship entails out of sheer curiosity.
Read more about Business
Having the experience of
starting your own
business will change your view of life. It is an unforgettable journey that will show you two phases or one of both: success or failure.
To become successful, you will have to dive into solving the need for a service everyone needs. This might eventually get you a lot of returns within a short period or gradually.
Aside from solving a problem, you must understand the nature of the society you plan to plant your business. The Nigeria society is relatively unique to other countries. To thrive in its business world, you will have to know the following:
- The Customer Is Always Right
“The customer is always right” is a universal argument that extends to Nigerian businesses. This is because as a business owner your customers become loyal when they feel welcomed and appreciated. Many businesses make this mistake when they begin to make more money. You need to provide value through great services to get continuous patronage. No matter how rude a customer can be, don’t react negatively. Nigerians are very good at boycotting low-quality services. Learn to prevent this. Always apologise for defaults.
Don’t try to cheat people by adding to the price. Nigerians are smart people, they will look for other alternatives to your products or services if they perceive foul play. You will lose more than earn more. This is especially for services and products already in the market. Adopt uniform pricing.
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Take Advantage Of Technology
Nigerians are forward thinkers; they will acknowledge a business that uses innovative ways to provide products and services. Take advantage of the internet to connect and interact with your customers. Also, get familiar with the processes of developed nations, and imbibe these processes where applicable in your business. The benefits are endless when you do this and you automatically take the lead.
In Nigeria, don’t be a snob, attend general trade conferences and workshops whether local or international. This will allow you to network with the right persons in the industry with the potential to move your business forward.
When running a business in Nigeria, hope for the best and prepare for the worst that could happen. Given the instability in security, legal and governmental policies, it is best to put forward a framework that can manage unexpected circumstances in the future.
Finally, stay in the right company and cultivate meaningful relationships. There is always someone somewhere who knows better than you and has the advantage of experience. You will be amazed at how much progress and hurdles you will cross easily, by being in the right company.
Featured Image Source: Nigerian Infopedia
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