In Nigeria, owning a business, small or medium scale in and of itself is challenging. Having the financial capacity(Funds), and the knowledge to getting started with the business is one, surviving competition in the industry is two while growing the business in our very volatile economy is another.
Apparently, steps have to be taken, even tiny ones and the business demands will need to be met one at a time.To really survive, there are some core strategies which matter more than others. Experienced Entrepreneurs will always have a story to tell and I’m sure they agree that some growth strategies matter more than others.
In this article, I have made a comprehensive list of the 7 core strategies you should follow to enhance your business growth hacking process.
In this digital age, if your service or product is deemed less of a necessity or has disappeared from the list of today’s trends, it’ll be difficult to get your business back on the radar. Don’t wait for a tragedy to happen. Try as much as possible to remain on top of what others want and need, and be relevant in what other people are saying about your service or product.
Keep customer relation top-notch
In Nigeria, we have trust issues. It’ll take lots of effort to get your clients to trust you; however, make one error and you’ll lose them all prior to even being able to explain. Irrespective of your reinvention, expansion, or growth, high-quality customer service needs to be permanent. In a case of having Customer relations officers, Be certain they’re highly trained to offer your customers with the help needed as they conduct business for you.
Keep being updated with Technology
Once again, we are in the digital age, like I said earlier. Businesses(small & Big), SME’s, and Startups generally are actively pursuing innovations and using technologies which assist in easing many of the operational activities. From automated finance management tools to phone systems to communications. Some young Entrepreneurs till date can’t figure how best to leverage on the most common “Whatsapp” to push their services. Learn how and when to take advantage of these innovations.
Hire the right people to your team
Be certain not to take this lightly. One important business growth strategy isn’t to hire those you need desperately for only today, yet neglect to employ those you need for tomorrow. Take all of the resources and time needed to discover the ideal match for each role. And after getting those who seem to be the right ones, ensure you treat the well. There’s a popular saying, ‘Take care of your employees and they will take care of your business.
Keep doing what is working
If it isn’t broke, don’t fix it. That adage is what you would always hear from veterans, Expansion happens as you are fulfilling a need. If your startup is expanding, it means individuals require and like what you are doing. To alter your success approach now might be to change what is currently working for you.
Don’t be scared of risks
In order to remain relevant, and visible, Always attempt to bring something fresh to the table. There will be enough businesses out there taking the road of least resistance; therefore, by doing things somewhat differently you may discover an entirely new, exciting niche/market within your field or industry.
Leverage on cheap but efficient marketing tools
I know a lot of young Entrepreneurs have funds, and some are cash-strapped. Eitherways, it is practical that you rethink expensive choices to get individuals to notice your services or products. Don’t ruin your odds of getting the ROI you’ve set your eyes on, merely because you spent more than you ought to for that Ads.
Try to embrace social media, you’ll know that exposing your brand to a broad section of your marketplace without having to go beyond your budget is possible. Recently, I was amazed when the founder of one Design agency said he is yet to spend $1000 on paid marketing. And his business is obviously booming. In essence, It’s possible.