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WINNING STRATEGIES FOR BUSINESS GROWTH IN 2019

CUT_3907It is common knowledge that business in Nigeria can be tough. Even in Western economies where things are stable and predictable to some extent, statistics show that 50% of small businesses fail after 5 years.  The numbers, as expected, are worse in Nigeria. According to The United Nations Industrial Development Organisation’s Investment and Technology Promotion Office (UNIDOITPO) in Nigeria, studies have shown that only 20 per cent of SMEs manage to survive in the country. According to Honey Ogundeyi and Tunji Andrews of 635 by GTBAnk, “Statistic has it that 80% of businesses crash and burn within the first 18 months of start-up’. Extremely discouraging.

Though a key regional player in West Africa, the Nigerian economy contracted for five consecutive quarters from 2015 to 2017. The economy returned to growth in the second quarter of 2017. Nigeria is Africa’s biggest oil exporter, and also has the largest natural gas reserves on the continent. However with a population of approximately 184 million in population with over 60% being youth, it is still difficult to meet the everyday needs of her people.

Being technically out of recession, economic growth is expected to continue and even strengthen further with Real GDP projected to grow by 2.3% in 2019 and 2.4% in 2020. This recovery has been driven by structural reforms, recovering oil production, some recovery in non-oil industries and modest growth in agriculture.

Despite our insufficient infrastructure, weak institutions, governance issues, it makes sense that focus will continue to be on revenue diversification, addressing the binding constraints for attracting private financing, and improving social services delivery.

What do all these facts mean for the average business, no matter the size – the terrain is getting tougher? Businesses must reinvent themselves to stay alive. That is what gave birth to the Winning Strategies for Business Growth in 2019 Training Program. How are businesses supposed to position themselves to win in such a difficult environment? It is possible to win, the question is how? Whatever strategies businesses come up with they must ensure they have:

  • Strong market presence
  • Above average brand recognition
  • Ability to maximise potential-Innovation
  • Ability to push growth
  • Ability to manage and keep customers
  • Skills and competencies so they don’t drop the ball
  • Equipped, strong and focused people

CUT_3922It was with these in mind, we facilitated the March 2019 edition of Winning Strategies for business growth on Friday 29th March, 2019. It was a five module program aimed at empowering participants who are business owners and professionals in marketing, sales, customers and project management with information to help them understand:

  • How to leverage marketing and the planning process to create value for stakeholders
  • The huge possibilities the internet opens for businesses as they engage with social media and other forms of digital marketing
  • How to apply effective selling skills achieve sales targets – selling consultatively rather than conventionally to create solutions that directly meet their needs. Sales pitches that deliver results.
  • How to deliver excellent customer service that enables strategic acquisition, growth and retention of your customers / clients
  • How to leverage project management principles to deliver consistent value to your customers-within agreed scope, budget and time.
  • What it means to be personally effective that is making use of all the personal resources at their disposal – talents, skills, energy and time to enable them achieve both work and life goals.

It was a full day session with lots of discussions around the topics for the day. What are we trying to achieve through this program? We want to equip participants with the skills they require to maximise the few market opportunities that exist. We want them to be tenacious and bold as they take on the market. We want them to understand that the current business terrain is not a joke and that it requires a little more intentionality to make the best of it.

In this market, businesses cannot afford to drop the ball. They must understand their customers. They must pay attention. They must be able to think out of the box. There must be flexibility in the offerings so customers can choose.  It’s a whole new world, but businesses must equip their people to win.

We were able to achieve just that with participants who all left with a sense of knowing what to tweak at the office on the next working day.  One of them had a few things to address. “I now have a different and more interesting overview of my customer. The skills I have learnt in this program will help me build better relationships with them (good customer service). Also planning ahead of every assignment will help me become a better project manager. I must put first things first, understanding there is no small project. All jobs should be treated with the same push. Lastly, I need to improve my personal effectiveness at work and even generally”. He is loaded to explode as he gets back to work.

CUT_4141This program runs on a monthly basis and we have had over 250 participants in the last 3 years benefit from it. The businesses they run or work for benefit from the strategies and skills taught to maximise their potential in the market place.

The next edition takes place on the 26th April 2019. For enquiries, call Jide on 08136531023, or send an email to info@cppl.com.ng.  It’s a creation of Customer Passion Point Limited, a firm of Value Creation Consultants committed to capabilities development and helping business understand and leverage their customers/clients’ passion points to create value consistently.


Source: https://cpplsite.wordpress.com

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