Before blaming the economy or spiritual attack which is what a lot of Nigerians do. Here are 3 key factors that drive the success of any business. If your business isn’t doing so well, it’s most likely deficient in one of these 3.
This is perhaps the most important of all. You cannot over emphasize the importance of this. Having the right people on your team is the most important asset in business. Who are the people working with you? The life of your business lies upon them. Remember the company is not the office building, the company is the people running it; from the CEO to the secretary down to the janitor.
If you don’t have the right people in your company, you are heading nowhere. No matter how brilliant and innovative your idea or business is, you need people to carry it out. If you want to build a great business, you need to have great people to work with. You cannot afford to be sentimental in business. A weak staff would affect the rest of the team. Fire if you need to Fire. This might sound harsh but excellence cannot be compromised. Excellent employees equal excellent business. I am sure if you are a business owner, there are already some of your workers whom you know are weak links in the team coming to your mind. Workers whom you know you can’t confidently give task to handle or who can’t do anything themselves except you supervise them all the time. These are weak links and would reduce your overall productivity.
A note to consider before firing;
Sometimes, firing people isn’t the solution; some employees might be weak in some aspects but possess some valuable qualities you need. In such cases you should try swapping positions.
Take a quick analysis of the people you work with one by one. List their names and in 2 sentences, try to describe each one’s personality and the principle they operate by.
Eg: John: Honest, Energetic, Full of confidence, Smart, Easily loses temper, Contributes ideas in staff meetings
James: Honest, Hardworking, friendly, good vocabulary, hardly contributes new ideas in staff meetings
You would agree with me, John would not be good to work in customer care unit. He’s got a tiny temper. Whereas, James would fit more in dealing with customers. He’s calm tempered, friendly and hardworking.
Degrees and CVs alone should not be the only determinant of what position employees to hold in a company. Personal character must be considered. For example a calm, timid and quiet person might not be the best person to appoint as a manager simply because he has a Phd degree. A creative, confident, eloquent Msc holder who interacts well with people would serve as a better manager.
To build a great workforce of excellence driven individuals, take time to reflect on the individual personality of your workers. Try swapping roles and fire those who are too weak to fit in. Sounds harsh? Business is a corporate war itself. You must assemble good arsenals (workers) to succeed.
2. SERVICE MODEL
How are you serving customers? I get very amazed when I see nice hotels with no parking space. What was the owner thinking? That’s just a great business error. No lodger is comfortable packing on the street. Moreover, a lot people who patronize hotels don’t even want people to know they are there (adult reasons). So you can’t expect people to pack openly on the streets and expect to have a huge customer base. This is part of your service model. How well are you serving your customers? How satisfied are they?
Is it easy for them to access your products? If you run a restaurant, rather than people walking in and having to stand ordering their food at the counter. Why not let them seat and dedicate a staff to go and get their menu table by table. Just a little change in the way you operate can change your story. If President Buhari comes to patronize your business today, how would you treat him? Would you get him a chair, offer him a drink, get his contact, calling to thank him later? If yes, then why not try to apply some of this things to your regular customers. Customers are Kings. They have the power to destroy your business if they decide to spend their money elsewhere.
In general, seek ways to make life more comfortable for your clients.
This is one aspect a lot of business owners fail to pay proper attention to. A business cannot promote itself. Marketing is what sustains a business. Just putting a signage is not enough. A signage can only attract interested neighborhood customers. What happened to millions of potential customers outside your locality? How do you get to them if you don’t campaign, advertise or market outside your immediate vicinity?
Both online and offline marketing should be explored. Marketing never stops. The more you market, the more your customers and the more your company expands. Even with millions of customers, MTN and GTB are still marketing so what’s your excuse when your customers are still less than 100.
Truth is marketing could cost a lot of money and need professional hands to develop a good marketing strategy for your company. Different marketing strategies for different kinds of business. You can consult with me to help you develop one that will be suitable for your business and wouldn’t cost you much. I will also be able to share with you cheap and effective ways to market to millions through a concept I call Corporate Partnership or Diamond marketing.
Need help in business? Contact:
Raphael S. Egbewunmi