Successful tips on how to start a small business

Thinking of starting a small business, here are a few tips, tricks and ideas on how to be successful.

1.       Choose  products to sell wisely

The first rule of setting up a business is to choose what you want to sell. Try as much as possible to choose products that you have a deep knowledge about. I cant imagine an Engineer dreaming of opening a medicine store. Choose products you can explain to people as a professional.

2.       Location and Market viability

Choosing the location of your business can be hectic, but here are a few factors to consider

i.         Are similar businesses located in that area? If so, i’ll advise you choose another location or area. This is because when you have similar businesses near you, sincerely you will be sharing the products market and profits for that area.

ii.        Find out about the indigene of the area and what they’ll likely buy most.

iii.       And lastly research the viability of your product in that particular location, do you project growth of your products in the area? If so, go on and establish your business.

3.       Creating awareness about your products and services

With the advent of social media (Facebook, Twitter, Instagram, Google+ etc), creating awareness about your products and services is now very easy. Virtually every businesses now uses social media to interact with their customers. Interact with your customers, post  your latest products and services.

Also flyers come in handy, create beautiful flyers for your products and services. You can drop these at strategic points where people will see them – Banks, railway stations, Motor parks and so on.

4.       Be Unique

I doubt there is any business you want to do in this world that someone has not already done or is currently doing, so if you want to standout, you’ll have to be unique. Introduce services that your competitors are not offering. Lets see an example below;

For instance, if you sell smartphones and you know about internet and computers very well, you can offer your customers free software updates for their pjones if they buy from you. Free Android, IOS, Windows etc software updates, who wouldn’t want that. You can sms them or share via your social platforms of the recent software update for free in your outlet. Also once in while appreciate your customers by giving souvenirs and doing promos.

More tips in my next post so watchout!