By Susan Gitonga
You might have the most brilliant business idea and you can’t wait to start and get the money rolling in. But business has been around for a long time and as you step into the world of trade, it’s beneficial that you avoid the mistakes that others have made in order for your business to be successful.
If you are starting a business in Kenya below are 5 ways to ensure that your business is successful and great:
1.Listen to your customers
Your customers will make or break you when it comes to starting a business. Besides making money, your customers should be one of the reasons why you are running a business. That said,listen to the feedback your customers are giving you.
If you sell smokies for example, and the customers constantly ask for kachumbari, ensure that the next time they pass by your spot, they will find the kachumbari.
If you have a shop that sells ladies’ shoes, and many ladies keep asking for a shoe size that you don’t have, make it a priority to meet their needs and stock shoes of all sizes.
Customers become loyal to your business when you give them what they need.
Listen to your customers always.
2. Adapt to the new trends
Remember that in as much as you might want to start a business because you are passionate about the idea, it’s also important to change and adapt to the new way of doing things.
For example, you might have started a business that sells Nokia Phones and realize that Android phones are what people are buying. The market trends have changed and Android phones are the hot cake products.
Even though you love your Nokia model phones which use Mircosoft Operating Systems, they are now being considered outdated.
Upgrading your shop with new Android phones that are trending in the market will ensure that you have constant customers flocking to your shop. And that means good business and profitability.
3. Market your business
Especially if you’re new in the market, you must make an effort to market your business. People need to know that your business exists. They also need to know your location, what services you offer and at how much.
Many successful businesses like Coca cola that have been around for many years, effectively use marketing as a way of remaining in the game. Even with their continued success and name, they still advertise every now and then.
With that in mind, come up with a good marketing plan for yourself. Create business cards and give them to people, create a Facebook page, design brochures and distribute them, attend events and network with people as you share about your business.
Simply put yourself out there for people to know that your business exists. You need people to make your business successful, utilize them.
4. Stay ahead of your competition
You will definitely not be alone in the business you decide to start. You should therefore be keen to see what your competitor is doing. What new service or product have they added? Are they having an offer? Have they re-branded?
Knowing what your rivals are doing will help you see how you can improve your business and remain at the top.
5. Track your finances
Failure to account for the business finances is one of the leading causes of business failure. Track where all the money is going. How much will you spend to buy products? If you have an employee, how much will you pay them? What are the profits of the business?
All the finer details of the finances of your business will determine whether or not you will get ahead in your entrepreneurial journey.
Know your numbers. Your business is in the numbers.
Starting a business is one thing, maintaining it takes alot of hard work and displine ,but if you follow the above advice you can be successful on whichever business idea you have.
Do you have any questions or comments? Leave them below,
Susan is a Communications Officer at Career Point Kenya. Email: firstname.lastname@example.org