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Succeeding in Business in 2019? What do you need to do?

The race with time has already started. We are already in the 3rd week of January 2019. Most serious businesses have already thrown themselves into aggressively chasing success. What are you doing? What is business going to look like this year?

As consultants, we are constantly helping businesses find their way through the market maze. So here are a few tips to get you going this New Year.

  1. Set Goals. A sound business goal is a target that’s Specific, Measurable, Achievable, Relevant and Time-bound. If your goals don’t have these elements, they amount to wishful thinking and will not get you far. Of course before setting new goals you must look back to ask yourself, how have you fared to date. Based on performance, you can then set your new goals.
  2. Put plans in place to attain these goals. Divide your goals into smaller activities that ensure you actually put yourself behind the goals. Make sure you execute each of these activities excellently. Many businesses perform sub optimally simply because of poor execution of plans.
  3. Make sure you stay close to your customers – current and potential customers. Manage existing customers well while courting potential customers. Pay attention to them, they are both very important. Your growth will come from your ability to manage them well – understand their needs and meet them as closely and excellently as you can. Remember, the customer is king.
  4. Promote your products and services to your current and potential customers. Use all available means to continually tell your target market and the public about who you are, what you have done and what you can do for them. If you don’t, as the saying goes, it amounts to winking in the dark. You know what you are doing but no one else does. Eventually, you will close shop because you are not properly position and therefore not selling enough. Use traditional and digital marketing tools. Use social media, your website and work the internet of things in addition to being consultative with your selling approach.
  5. Keep proper financial records. Stay close to what happens to the money you make. Don’t stash cash away. Make sure you put moneys in accounts that yield some interest no matter how small. Delay spending and try to get your payments in as fast as possible. Put structures in place that enable you track what happens to your cash. Watch the money and make it work for you. 
  6. Think out of the box. That makes you somewhat unpredictable. This is what births creative and innovative disruptive market moves. You could be the next Uber or something of your industry. You’ve got to be relevant to your audience – in fact, too relevant to be ignored in your industry.
  7. Also pay attention to what competition is d The market consists of you, your customers and competition. Never lose sight of the fact that you are not the only one in the market with your kind of offer. Know what the others are doing so you can work around them to your advantage – pricing, products /services, delivery, quality and how they promote their brand and value propositions. All these will impact your business one way or the other. So you must know so you can respond appropriately.
  8. Get the right people and take care of them. Pay wages on time. Reward people fairly. Run an organisation that people are glad to leave their homes for every morning. Let people be themselves, so they can give their best. Encourage team spirit. Encourage personal growth.
  9. Be organised. Be on top of your game. Understand what is going on with your business. Be present. Model what you want to see others do. If you are disorganised, it will trickle right down to the last person. Delegate but stay close to your business. That enables you lead with confidence.
  10. Doing well in business requires 100% focus. Stay focused. In our part of the world, the markets are unstable and unpredictable. You must be on your toes to anticipate and respond appropriately to variables in the market place. Do not be distracted or discouraged by the goings on in business. They come and go. You must remain standing.

Running a business is demanding and challenging. However, there is a deep sense of satisfaction that comes with knowing you have profited from making a customer happy by some solutions you provided. I must add that you will also need God’s grace and favour to succeed. Please make sure you put Him in the equation. It is He who gives us the power to make wealth.

I am looking forward to an amazing year. I wish you all the best. If you need help, reach out to us. We would be glad to help. 

Chinwe Kalu, CEO, Customer Passion Point Limited, chinwe.kalu@cppl.com.ng, +234 803 201 2458, www.cppl.com.ng

You can also follow us on social media @cpplng #cpplng and LinkedIn & Facebook: Customer Passion Point Limited (CPPL).

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