Those who are able to see into the future; discover new gaps in the market to be filled; come up with products that never existed and set the pace in terms of standards of performance, are those who are really going to thrive in business in this new year. The following are three powerful ways for any entrepreneur to stay ahead in business in 2014.
1. Take Advantage of Problems & Weaknesses
While some people are still complaining about poor health care, inadequate power supply, water shortages, declining standards of education, poor customer services, food shortages, piracy, high level of insecurity, etc. some smart people are taking advantage of these problems to establish themselves in business. The best businesses today are those that are born out of an existing need in any system.
In Nigeria for example, so many people make a living from the fact that the power supply is not sufficient to carry the economic activities going on. Do you know that some people earn a living from manufacturing solar lamps, charging phones and providing ice blocks and cold store services for others, taking advantage of the low power supply?
Do you know that because of the declining educational standards, many people have gone into the business of opening standard schools and are thriving? Do you know that it is due to the high level of insecurity that security outfits are springing up daily? Through this, some are able to secure a job to earn a living and feed their families, while the owners go home with full bags? Security these days is not cheap. People spend so much to be secured.
What about day-care centers? All over the world with the busy lifestyles most people have adopted, there is an increasing demand for day-care centers where these busy people can keep their children and be sure that they will be well – taken care of. This is real business in most countries today.
In 2014, if you want to stay ahead in business, you must learn to see and take advantage of problems around you. Don’t look too far. There are needs to be met around you and if you could just be more alert, you will be making millions. These needs spring up daily and rather than sit down and complain, stand up and take advantage of them.
2. Do Anything Differently
One of the most intelligent ways to stay ahead in business this year will be to do what you or others are already doing, but in a very different way.
Is it not funny that you go to the laundry shop where you usually do the laundry of your clothes and everything is just as it was last year? Their prices, their products and services, their packaging, their promotion and even their personnel are exactly the same. Whenever I notice this, I immediately detect ignorance or complacence and I leave for where I can see something new happening.
These days I have been seeing new ways of doing old businesses, all around me. People are getting more innovative so as to meet up with the fierce competition in the market. Gone are the days when barbers and hair-dressers use to think that the only service they could render was to trim the hairs on the heads of their customers. Nowadays there are barbers who go the extra mile to wash the hair, trim it, apply nice cream on it, treat it and educate their customers on how to keep their hair healthy and neat.
In 2014, we need to see restaurants educating their customers on healthy living, and not just serve food for them. We need to see poultry farmers, go into crushing and transformation of birds into other food products. It will be delighting to see more people packaging their knowledge into electronic formats and so reaching out to a larger audience they will normally not reach by organizing seminars.
What about day-care centers, not just for babies but also for children, where they could go to after school and be built up physically and psychologically through sporting activities? What about restaurants supplying food to people in their offices?
Doing the same thing in business year in and out will make you a follower at best.
3. Look for Gaps in the Market
In most businesses, there are gaps between the suppliers and the consumers. The success of most businesses is a function of how competent the business owner is, to discover and bridge any gaps that exist between the suppliers and the consumers.
Sometimes the gaps are from the geographical distance between the supplier and the consumer; other times they are from the wide difference in the knowledge the consumer has about the business or product, with the reality; other times still, they are from the aspects in the business, that are not being covered by the existing suppliers.
Whichever the case and wherever the gap is from, bridging such gaps will take your business far ahead in 2014. If the gap is in terms of geographical distance between the suppliers and consumers, consider how to not only supplier such goods or services but how to make them available at the door step of the consumers, even at an increased cost which the consumer should bear.
If the gap is in terms of the limited knowledge the consumers have, consider not only supplying but also educating the consumers about the product you are offering. Advertising is also a way to bridge such gaps. If the gap is in terms of aspects of the product that are not covered by the suppliers that exist, think of how to cover such aspects.
For example, I noticed recently that most business centers (documentations) are incomplete. They could have typing services, laminating services but not scanning services. And so on. So very often, the customer has to go from one to the other, to get a complete package. Try to fill this gap with yours by ensuring that all necessary services in such a business are available.
When you consider the above three ways and apply them in your business this 2014, you are sure that you will not only stay ahead in the business you do, but you will remain a leader in that business and dictating the tempo of competition. HAPPY NEW YEAR 2014
If you have some more ideas to share or want to say something about these ones I have shared, let me see your comments below.
By Kadzem Claude
What a great impute. Africa is born to be great in business and surely we're gonna be soon. Thnks
ReplyDeleteSure Sir, if you and I apply the knowledge we get daily, we are not far from it
DeleteThanks for the good tips. I will also encourage people not to forget marketing. You need to strategically market your products or services to the people who needs it. That is another way to get ahead.
ReplyDeleteGood. Marketing is a key aspect in business. I agree with you
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