Business In Africa.

Hello, friends, today’s article is not for everyone, but only for those who dream of becoming business owners, or is already into one form of business or the other. So if you are not in any of these categories, you can just go ahead and scroll down my blog page to find other materials that relates to you, as this write up today is only for business owners or potential business starters.

Business in the western countries like the USA, UK, Canada etc may not really see this write-up useful enough, because they already have better government policies, infrastructures and technological advancement. But this is mostly to help entrepreneurs in developing countries in Africa and some other countries in the Middle-east, where we still have challenges in our business environments.

Business is very good, and when I say Business here, I mean those brilliant ideas you have carefully and systematically translated or turned into making more money. It may not really be that you are into the sell or production of tangible products like: clothes, Phones, Shoes, food stuff etc... But here you may as well be into the providing of one service to the people or the other, for the same purpose of making money also to pay your bills, examples: Repair of phones, teaching, mechanic, laundry etc. whichever way (Goods or Service) this write-up is for you.

I will be sharing with us this morning on some of the things that can help us grow our business or for starters, things we can learn to make us better entrepreneurs when we eventually start up our own business.

1)      UNDERSTANDING YOUR MARKET: This point applies to everyone either already in business or intending to join the business world. You must first sit down and analyze the nature of the market you are going into. How can I do this you may ask, first meet the people that are already into the same kind of business you are into or intending to go into. Ask how it is done, what are the challenges they face, what are their periods of boom. Even if the first man is not giving you the adequate information you need, don’t fight him, move on to the next man and get the information’s you need to better your lot. Go to the internet and find out more on the business and equip yourself on how to improve on the business venture. E.g. if you want to go into importation business, I have an e-book that can help you. https://www.facebook.com/pages/Fresh-Minds

2)      FINANCIAL CONTROL: as a good entrepreneur or a potential one, you must have a very good financial control. You must know when to say no to that hunger or apatite of yours. Business money must be properly documented and accounted for. Learn not to combine family and business when it comes to financial management. Make sure not to allow you expenditure outgrow your income.

3)      CONSISTENT BUSINESS FOCUS: most people lose focus from their original dreams in business. This is different from diversification in business. Even if you must diversify, you must have gained adequate grounds on your original business you started with. Be consistent in that particular business let everyone know that without you, they cannot find that product or service anywhere.

4)      ANTICIPATE CHANGE: as a good business man/woman, you must always anticipate changes to occur in your business at anytime. These changes could be change in government policies, technology, consumer taste etc... You must always anticipate these change s and not all them catch you unaware. Be ready at all times to improvise, plan ahead and be sure to be safe.

5)      MANAGERIAL CAPACITY: for those that will be your staff or work for you, you must be sure to hire the best of team-mates to help pursue and achieve company goals. Learn to educate them on how these things are done, or how you want it done to meet targets. your customer service should be customer friendly and your Pro should be a shoulder that the consumers can rely on at anytime.