"WHY SMALL BUSINESSES SHOULD BE OUR NEXT TARGET AUDIENCE" - DIDI-OMAH

I have discovered that the major factor that boost a country's gross profit growth are small businesses, owned by individuals or groups.

Leaving the gaint players in the business field, we ought to focus on growing the small ones. Our pricing is not the cause, the cause is lack of more reachouts and unavailability of financial assistances from anyone thru purchasing of shares, investing or others. But lots says that our pricing also contribute to our slow growth or fall.

"Just Because Your Small Business or our business Is Failing Does not Mean It Has to Shut Down"

We must pinpoint the reasons for our Failure. At first if we want to grow!

I have decided not to be the Business, but be in the Business. I believe that was one of the core factor that kill or slow the growth.

Many times it is the owner who causes the failure of a business. When you think you are the business, this is the recipe for a business’ failure. You must learn to delegate responsibilities and become comfortable with the idea of taking help from others. Don’t act like an owner when it comes to using the money that your business making. Keep yourself on a salary, and this salary should be based on the current condition of the business. Make the team and involve some of your best employees in deciding what the solution to the problems should be. You are in the business, and so you will see everything from your perspective. A neutral person will tell you what they find lacking in your business strategy.

We see to reconsider our Pricing Strategy again.

More often than not, businesses fail because the owners don’t set the right price for their product or services - which we fall. we might be pricing our products too low or too high. 

What if we have already started charging our customers for the value we haven’t provided them? Previously or presently!

Due to researches, I discovers that firstly; a business must price its products/services to cover their expenses. Later, the business can start making a profit. The third and last stage is to charge for the business value. We have to be constantly looking into our customer data to know how much value our customers find in our services/products before we charge them for it. And we will keep on theses.

We must set goals and measure their progress

No matter how hard the times are for me or our business, there is always going to be a way out. However, the emotional setback and mental stress that come with business failure can eat up our positivity and optimism. Despite such hardships, we have to know how to set realistic goals and achieve them. Set defined realistic and achievable goals and measured the progress. When we are facing hard times, you have to set small goals. It is important at this point that our goals are defined in the form of numbers. The ambiguity of goals makes them less achievable

I learnt alot from Funded.com, Forbes and more.

I have never seen any teacher more successful than his or her dedicated student. Great learners are highest earners. I am still growing in the field, still looking for a better way to manage the staffs, the business, the management, my family, religion, life and more together at it's pace. While keep learning, studying and praying and working.

I believe We-Blogs Africa (doactalk.com) will rise again.