2016:SMALL AND MEDIUM SCALE BUSINESSES YOU CAN TRY IN NIGERIA

2016 TOP BEST SMALL BUSINESS IDEA YOU CAN START NOW.

From my 2016 top small business idea list, I gave out one small business idea, 3 weeks ago, to a lady who recently lost her job as a banker. I did not only  give her the small business idea, but I also suggest to her, the method she should use to run the business. The problem with many small scale businesses today is the fact that they don’t have system, no road map. Everybody is just doing business without formulas; almost everybody is doing what others are doing. You will not grow, if that is what you are doing. I did not want this former banker to end that way, so I gave her a formula, a sells method.

What was the formula? Well I think it will be proper for me to mention the business idea first, before we talk about formula. The small business idea was, selling of cloths, especially gowns for women. Some men wear gowns this days, I don’t mean gowns for men, I mean gowns for women.

Do you know that if you go to some big markets in Nigeria, like markets in Lagos, Anambra, Abia, even in Rivers state, you will get very cheap gowns, gowns that go for between #200 - #500, that is if you know the corners of the markets where these things are sold. Nobody in your environment will ever believe that you got those gowns for a price below #2,000, yes, because of how well designed they will look. Some of them will even want to pay something very reasonable to take the gowns away.

 Let’s go back to Lucy. She was desperately in need of just one good small business idea. So I introduced this small business of cloths selling to her, she loved the business. She said “I love it, it’s good”.

But you see, it is one thing to get a good small business idea, and it is another thing to know how to run the business to make it grow. Let me briefly use this opportunity to mention that the same line of business can be run differently. Let me explain.

 Mr. A, B and C are doing building material businesses in different locations but in the same market. Let us assume that you want to start the same building material business in the same market, my question is, will you run your building material business the way A, B and C are running their own business? Or will you create your own unique style to make you stand out from the crowd? I think you should create your own unique style, to make you stand out from the crowd. I say this because people love to see unique styles; people are easily attracted by those who stood themselves out from the crowd.

 If by mistake, you run your business the way A, B and C are running theirs, you will be in the same level with them, and people will hardly spot you. I did not want that to happen to Lucy.

I have mentioned the business I introduced to her, what is the sells method I suggested to her? To attract customers to her new business, I told her to do what nobody has done in this part of the world. What is that?

  Have you ever visited a store, where things are sold, and you pick an item, looked at the price tag. Instead of seeing the price of the product on the paper, like $50, #1,500 as the case maybe, you saw something else. You saw “how much do you think am worth? Pay and take me away”. Have you ever had an experience like that before? I don’t think so. I don’t know if this sells method is in the 1^st world countries, but Africa, I doubt if there is.

 Now let me put things very clear to you guys, The business and the sells formula that was applied.

 The business is selling of gowns for women.

The sells method is: after buying the gowns and bringing them to your business place, Don’t be the one to tell your customers how much they will pay. Let them look at the material and decide how much they feel it is worth. Don’t forget that you bought these gowns very cheap, and of course you are not going to tell your customers that. So give them the opportunity to decide how much they will pay. You will be surprise that many of them will pay you an amount that is far beyond the cost price.

 But wait a minute, what was Lucy’s first experience in this business like? How did the customers react to this style? Are there lessons we can draw from Lucy’s experiences?

Answers to these questions will appear here very soon. Please don’t forget to visit us regularly. Check other topics in our blog, they are eye opening topics. You see practical business ideas and practical cheap ways to run them. Appreciate us please by sharing us on your Facebook page. The greatest gift you can share with your friends at this time is how to make money for themselves through small businesses.