WAYS TO BE RELEVANT IN BUSINESS

WAYS TO BE RELEVANT IN BUSINESS

It is everyone’s dream to succeed in what they do. However, there some salient factors we take for granted and miss the big hit.

Standing out with your products

You have that unique idea or product you want to showcase to the world? find out first if there is anything similar to it in the market so as to know your level of competition. This helps to determine how far your offerings can go in the market. You are unique, just like everyone else, like the saying goes.

Sell what is essential but not common

What is that thing that is essential but not readily available in the market or is in high demand. Remember that where you have a great population of people, the odds are that you would excel.

Create your own advertising strategy

Have you ever thought of attending estates’ meetings on Saturdays to promote your products to your immediate environment or go to your children’s school/s to give the pupils a flyer to their parents? Disengage yourself from the norm. Look around you and decipher what marketing strategy that works for you. Once, I saw an elderly woman trying to buy a bed sheet in the traffic, I had to get out of my car, gave her a flyer of the bed sheets my wife sells, told her we would deliver to her office or home free of charge. She was impressed …

Offer free samples

How about having a box of chocolate as ‘testing’? Or test driving that car for a week? Sounds good right? Everyone loves freebies. Give free samples of your books, training, or products to random people. And make sure it is your best because there is no second chance of making a first impression.

Reduce price

Nobody wins a price war, nobody. But reducing your price slightly lower than what your competitors offer is not a bad idea especially when you are a new entrant to the market. This will endear you to the customers.

Source locally

Sourcing materials locally will keep your cost at a minimal level, make your products affordable and will give you room to maximise profit through an impressive turnover.

Choose your target market/audience-

Note that your product would not be for everyone. There is no use selling sugar to a diabetic or selling rap music to an 85-year old or selling ice in the winter. Do your research. Identify your target audience; know what they want and when they do want it.

Sell original and quality

Your trademark must be to sell quality. Never compromise on quality. It is better to increase your price when cost of materials increase than to reduce quality in other to maintain price. It will kill your business. Coca-Cola still tastes the same since time immemorial though the price has increased but people still buy Coca-Cola daily.

Keep your recipe and guard it jealously

Never divulge your secret recipe or ingredient to anyone. At best keep this in a safe place i.e. in the bank, to be entrusted to your loyal, trustworthy family member after your demise.

Checkmate your competitors

Your competitors are not sleeping and are always looking for ways to increase their wallet share of the market. You should do the same if you want to succeed in the game.