Posts Tagged ‘small business opportunity’

Your Business Mission

Thursday, August 25th, 2011

What is the Mission of your Business?

A Successful entrepreneur won’t have the same answer as you are having in your heart right now. Too many small business owners assume that the mission or goal of their business is to make money. If you set your eyes on making money, be rest assured that your business won’t last for long.

Businesses are practically packaged solution to people’s need. Businesses are meant to satisfy the need of individuals or organization. If that is the case, then making money cannot be the mission of a successful entrepreneur. An entrepreneur that aims at making money will only survive until an entrepreneur that aims at satisfying the need of customer comes around to dislodge him.

Customer Satisfaction Should Be Your Mission

Successful entrepreneurs often encourage their staff to aim for two things. First, attract customers. That is the whole essence of internet marketing and all the gimmicks internet marketers parade online. Everyone is trying to get the attention of customers. The competition for customers attention is very keen. Even though you have the capacity to satisfy the need of a market better than your competitor, your inability to attract the customer will make it impossible for you to prove that you are better!

The second goal is to satisfy the customer. Whatever you do, aim at satisfying your customers. A satisfied customer will safe you thousands of dollar in advertisement. His or her recommendation may earn you better return than you can ever get on paid advertisements. Also, a satisfied customer repeated patronage pays huge dividend which cannot be easily quantified. Instead of attempting to subtly grab a few hundreds of dollar from a prospect work at making the prospect a satisfied customer and watch him spend thousands of dollars in repeated sales while recommending your business to his friends.

Quality Customer Support Service Holds The Key!

Irrespective of how good a product or service is, poor customer support service will run the business down. People love to be treated with love, care and respect. Every human being is craving for attention. You will agree with me that everyone, including yours sincerely will love to be treated as Royalty.  When this fails, customer support service should come to the rescue.

To err is human, so it is not out of place for a business to fail in its bid to satisfy customers. However, whenever such failure occurs, customer support service personnel should spring into action to ensure that the mistake is remedied. Customer support service must ensure that the dissatisfied customer does not leave the business because of such failure. Everything should be done to redress and win back the customer’s confidence.

This is one area that small business owners in Nigeria need to look into. It has been discovered that too many big enterprises dump inexperience and ill-motivated personnel in their customer support service departments. Such personnel when attending to dissatisfied customers are often rude and abusive. Some even act as if they are doing such customers a favor. Instead of treating the customers as royalty, they actually demands subtly that the aggrieved customer be grateful that they are spending their precious time attending to such trivial complains. This is a golden opportunity for small business owners to tap into.

Give The Customer Royal Treatment and Watch Your Business Grow!

Since the market is already full of lots of aggrieved customers, take advantage of this! Build a first class Customer Support Service Department for your business. Ensure that the department is staffed with the best behaved, smooth talking, diplomatic, courteous staff you have. Explain to the personnel that they are the last hope of the company in retaining any aggrieved customer. So, their attitude should be such that a customer having come in contact with them will find it difficult to leave.

Get Feedback About Your Customer Service Department

If you really want to stay and grow in business. You need to get direct feedback from your customer on what your customer support service personnel are doing. You need to know if they are striving to keep customers for you or doing otherwise. Too many businesses have lost valuable customers because an aggrieved customer was not well attended to. Getting feedback from customer is not so difficult. You only need to be creative and you will be surprised that customers are willing to comment on how your staff treat them.

Reward Good Support Staff and Fire Bad Support Staff

It is your business, so be bold enough to reward good support staff and fire without hesitation any support staff that is killing your business. It is foolish to allow an arrogant and uncultured support staff to continue in your employment. Any staff that does not accept the fact that it takes the income from satisfied customer to keep the business running must be fired. Customers pay for satisfaction and it is the responsibility of any business that takes a customers money to provide such satisfaction or refund the money taken. As such, it is compulsory that every staff understand and agree to treat every customer like royalty.

This post was provoked by a recent experience I had with a business organization. Having failed in keeping their promise, their support service staff are acting as if they are doing me a great favor listening to my complain. If I were to have my way, I will recommend that the entire customer support service department of that business be overhauled, because their response to customers sucks!

Your business mission is to attract customers and satisfy them. Never forget that if you truly want to be a successful entrepreneur.

Do you have a story to tell about customer support service? Do you have a tip to share that will empower a small business owner? Please do so in a comment. Cheers 😉

Small Business Opportunity

Wednesday, April 29th, 2009

Which Small Business Opportunity is right for me?

You know quite well that a small business opportunity discovered and well executed is actually the only thing you need to turn your fortune around! Afterall, several successful entrepreneurs have testified that the first one million dollar is the hardest to make. So we know that we need just the right business opportunity which if well executed has the potential to launch us into wealth. Unfortunately, even though there are several small business opportunities around, you can’t get involve in all. Yes that is the dilemma. Lack of time, money and other resources will make it impossible for you to try out all the beautiful money making ideas that you fantasize with in your imagination 😉

Due to the present global economic crash, those who were satisfied with working for salary before now are beginning to reconsider their stance on starting a small business. Several of my friend who used to make fun of me when I tell them that it is possible to run an internet based business alongside a paid job are now getting interested. Instead of browsing and spending time on social network sites chatting with strangers, they have now made the search engines their best friend. They spend hours searching online for an internet business opportunity that will be suitable for them. Unfortunately, such effort produces poor results.

The singular reason why many are yet to start their own business is because they have no clue where to start from. Some on the other hand do have a clue, because they have bought and read books on small business ideas or home business ideas. You must have come across such books. The title usually goes thus, 101 Small Business Opportunities (since this title is not yet in existence, I guess I should write an e-book and give it that title). They were all excited while reading the book, and one will naturally expect them to start a small business once they finished. Well that is not usually the result. Many actually become paralysed after reading such books. The fear of failure keeps them back from taking action. If you have been considering starting your own business for more than 3months, you can be assured that it is either you are afraid of failure or you are suffering from information overload. Information overload is the second major hindrance to starting a small business.

How  Successful Entrepreneurs select business opportunities

Since there are several businesses one could venture into that do not require much capital and investment. The best small business startup strategy is Take Action Now!

1. Make a List – Make a list of at least ten of the common small business ideas you know of. There are business ideas and opportunities all around. If you are determined a little creativity is all it takes to succeed. When writing your list, don’t discard any business opportunity as being too small, because what you consider insignificant may end up as the best business opportunity. Some folks have become extremely wealthy by starting businesses that people considered stupid or unprofitable! Also, it is okay to include the idea of purchasing a small business franchise. It is not compulsory that you must invent your own small business from scratch.

2. Use Your Passion As Criteria For Small Business Idea Selection – Study the list carefully and strike out those you are least passionate about. You cannot be successful if you choose to run with a business idea that you hate. Successful entrepreneurs become successful running businesses they are passionate about. When you are passionate about a business vision, work suddenly becomes pleasure. The joy of seeing the progress being made by the business gives you the motivation you need to succeed. It is not all about money! Remember, if you provide services passionately, profit will follow you naturally and you will become wealthy! So your list must be founded on your passion, not what you consider as being the most lucrative business ideas!

3. Select 3 Small Business Idea For Further Research – Next select the best three ideas you feel you are most passionate about. Use your imagination to look into the future, at least 12months from the present. Will you still be enthusiastic working on any of these business ideas? Are you so passionate about any of them that you will continue working to see it succeed even when nobody is there to encourage you? This is the way to sieve the ideas.

4. Get Advice From Experienced Entrepreneurs – Visit successful entrepreneurs who are already implementing those ideas. (It is wise to go out of your locality so that the entrepreneur will not be afraid of you becoming his next competitor). If possible, chat with at least two entrepreneur for each business ideas you have selected. You will be surprise at the amount of information you will gather from such interviews. This singular step will save you a lot of pain in terms of fund, time and energy that would have been wasted due to your lack of business experience.

5.Pick Your First Small Business Risky Adventure! – Life is all about risk. So  face it. Tell yourself the truth, I wan to take a risk because refusal to deliberately and wisely take a risk at succeeding is itself a bad risk! Select a business opportunity to start with based on the tips garnered from your discussion with those entrepreneurs. You are not just taking a risk by so doing, instead you are doing what every successful entrepreneur does all the time. We take intelligent business risk based on quality information and experience gained from the past.

6. Get An Initial Capital – Get an amount you know you can afford to loose without going bankrupt. Don’t go for small business loan or empty your life savings. That will be a foolish thing to do.  Taking business risk is not the same thing as gambling or playing lottery.  Invest that into the idea you have selected and kick-off.

7.Get a business mentor – It will be nice if you can ask one of the entrepreneurs you interviewed to act as your business mentor. If you can’t get one of them, then get someone online to act as your business mentor. The fellow must be a successful entrepreneur, but not necessarily one that is in the same kind of business that you have ventured into.

8. Document Your Business Adventure – In conclusion I will suggest that you keep a personal journal where you will keep details of your business adventure for the first six months. Write down your experiences during this period. Record things that helped along the way and things that brought frustrations. Take note of business and personal decisions that work and those that got you into trouble. That journal will serve as a very useful business reference material (more valuable than books written by others on business strategies) in your future business adventures.

Start Your Own Small Business Now!

Ok, enough of the theory, get up NOW and take action! That is the only way to succeed. As you make progress with your small business opportunity, kindly return here (Nigerian Entrepreneur) to share your experience with us in the comment section. You can get future updates to this post and other Small business tips by subscribing to my RSS feed. See you at the top!