Confidence Building, A Fundamental business feat.

Believe alone may not be enough to drive you to your destination. There are many post all over the internet on that topic and in fact I recently crafted one for you. But, what if we needed something beyond believe, something that doesn't just enables you to start up something but equips you with the needed bravado to do it extraordinarily.
That big word is confidence. Take a public speaker for example. He does his research and believes in what he’s about to deliver. Believe takes him to the stage but confidence backs him to speak.

What You Need to Know About Confidence.

Psychologytoday.com defines confidence as a belief in one's ability to succeed. A research paper on How to build confidence by Yasmine Shahin in 2015 defined confidence as a state of being that makes you feel that you can achieve what you want in life."

Most people are just too scripted in an inferior context that they rob themselves of the right to stand out. The net of timidity keeps them locked up in a cocoon, never to make their mark on the market.
Even though they strongly believe in what they do, they find it hard to express it openly or make a profitable venture out of their ideas. Why?

Because they think they are going to sound foolish and that what they have to say will not make sense. So they sit down and watch other business persons create their own businesses. And One funny thing is that these people will often see the mistakes others are making, and the variety of things others are doing wrong, but they can’t voice out or at least stand up to exploit the opportunities right before them.

Surely, this are the signs of self doubt, but not in your business this time. The problem is that you doubt your potential to emerge successful. You lack the right proportion of self conviction. That invaluable factor that makes you give a deaf ear to anything the folks have to say. You don’t  give an ear, because you are sure of your self and what you represent. And like Yasmine said, you feel and believe that you can achieve what you want in life.
Confidence is what you need to succeed. It is a mantle that stabilizes the feet of it’s possessor. It makes you a professional overnight. With confidence, you don’t panic.

Confidence in Business.

There is a term under business and economy called Business confidence index (BCI)
The business confidence index (BCI) is based on enterprises' assessment of production, orders and stocks, as well as its current position and expectations for the immediate future.

In order words, Business confidence index is the metrics of a business or economy that Portrays how trustworthy the venture is. It's value will either encourage or discourage investors from investing into your business. It reflects profits and loses and how good or badly a venture is operated.

Take for instance, the Business Confidence in Nigeria increased to 17.70 in the fourth quarter of 2017 from -2.60 in the third quarter of 2017.

Consequently, more investors would pump in their funds during the fourth quarter than during the third. This is because in the third quarter, BCI was low therefore investors did not trust the economy,  but the fourth quarter was not so because as investors began to see an improvement in the BCI they knew their funds were entering into a growing economy.
The point I want to make from this is that the business confidence index depicts the trust factor of a company or startup.  But people make up companies, people make up it's board of directors and infact, someone is the CEO.  Therefore a company is a legal person managed by individual persons. So anything that affects the company is as a result of decisions made by the individual person(s) that run the business.

Consequently,  if the confidence index of a business is low,  it simply means that the board of directors or managers of such companies have  very little confidence to take the right decision that could have produced a better result in the current positions and equity of the company.

Maybe we should just check individual confidence index

In business, you never want to keep quiet while things go wrong. Confidence and willpower takes care of that. The true leaders with the right individual confidence index are recognized by the way they handle difficult times.
What it takes to make strong but risky business decisions that could turn profits for your company is a reflection of your confidence factor and how much of a leader you've become.
I’ll explain.

People like to associate with success. A successful person is a confident person. They don’t want to deal with a mediocre because when losses come they bear it together.

Now, when your business is facing hard times, people are watching critically to see if you are showing the needed confidence index and persistence to take on the task. If you are, they hang around, because they want to be proud affiliates or shareholders. But when you act with even the slightest show of indecision, fragility and inactivity, they secede, sell their shares, and close their affiliate accounts. Why? because they don’t find you competent and no one wants to be on the losing team.

More importantly, your investors discover that your individual confidence index in the negative, and the wise investors know that it will sooner or later reflect on your BCI, therefore, they quit.

Confidence qualifies you to compete.

When your associates find a strong bust of self confidence is in you, you automatically become the latest CEO of the most competent board of directors. You will tend to build audiences faster and progress will be made at a rapid rate.
 You don’t need to be a professional, in order to display confidence. All that is required is a strong sense of discipline, and a strong decision to stop worrying about the competition and focus on your goal.

Confidence is that force that gives you a say. You walk into that podium undaunted by what comes your way. You know why? Because you have pride in your sense of person, you are confident that you can tackle anything that comes your way, thus,  you execute decisions with authority after you must have done your research. Take note that confident people don't take stand on decisions because they are right, but because they are not afraid of being wrong.

 Believe can get you going but confidence makes you a professional. A high Confidence index will make your competitors to sweat under their pants because, you will build customer base more rapidly.
The world needs confident people in business, people with very high confidence index. Others listen to and look up to them.

However, building confidence might just be that one spice you are missing. Harness the quickening power of this virtue and find your business or career shooting up like the storms.

Ready to take control and build confidence?

1. Focus on your passion:
When you start wanting to be everything in the world, to look more smarter and professional than you are, you will find your self with no focus and as a result no confidence in public. Focus on that very thing you know, don’t claim what you ain’t. just stick to being you and that will pay of handsomely. What this does is give you more time to research around your passion, and then get professional in that field. When you focus more, you realize more than you would have done without. You become an authority in the field and people listen when you speak.

2. Achieve little success everyday.
Past successes contributes to recent ones. When people comment and leave good review of your business and book. You feel successful and that leaves in you a certain confidence that you are now becoming an authority. So I found a way anyone can utilize that natural phenomena, turn it into a formula that can build confidence and make you the hero you were meant to be.
Set small goals everyday not something you doubt you may not keep to. Set something you can fathom. In business , try making shorter plans. Instead of taking on your financial plans all at once break it into different articles while you work on each one daily or weekly, as the case may be. When you work on that little stuff and achieve success you immediately begin to get some satisfaction, a sense of fulfillment for solving problems. This builds your confidence, and improves your competence – you ability to outshine your competitors.

3. Spend good portion of time to prepare.

Good preparation begets boldness, and boldness yields confidence. When you prepare for what you want to embark on, you get on top, you become an authority in that field and people look up to you. Preparation gets you ready for the opportunity. It makes you competent when the contract finally comes or when you finally start the business. When you are prepared, you will always have something to say, something to write, new ideas to offer, or the right decision to make. This keeps your audience, followers, associates and partners more engaged with you. They believe in you because you are competent. But when you spend the time doing irrelevancies and futilities, pursuing things that does not align with your plan, you end up being unprepared and unready. Then when the opportunity you’ve patiently waited for finally comes, the spectators find you shivering, the audience and associates discovers that you can’t make a decision, the followers and fans find out that you have nothing to offer and thus they let go of you and go for the others. Why? Because they see an incompetent fellow in you. They automatically see that you don’t even trust yourself, “how the hell do you want us to trust you” they keep asking. Start preparing today because luck is that point where preparation meets opportunity.

4. Be sincere with your followers.
Being open-minded with your business partners and followers is a very essential factor, however, most people overlook it.  When you are insincere or not clear about a particular fact, or maybe you try to maneuver, you may  not observe the many eyes and ears that are watching and listening. Then sometimes when you are feeling confident one fellow stands up and makes a reference or drop a sincere bad review. Then you find yourself sweating in front of your audience. Be strict about what you believe, state it plainly, and let all you do in and out of business reflect it. This is to say, be yourself. It saves you a lot of stress and heck in the future.

Instead of being turgid about the competition, build confidence and become competent. Because confidence is creative.

Yasmine says, building self-confidence begins with the process of self-exploration. And I think the process of self-exploration, with what you stand to gain, is worth the time and effort.

5. You don't always have to be right.

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Do you discover you lack confidence? What are your past experiences and how did you manage to sail through? Share in the comments.

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8 Most Efficient And Effective Marketing Strategies For Any Business Model

According to businessdictionary marketing is the management process through which goods and services move from concept to the customer. Marketing techniques and strategies are really based on what it takes to identify the right product mix, the prices for those products, and what needs to be communicated to target customers (via advertisement) in order to ensure successful sales. It includes the coordination of four elements called the 4 P's of marketing: 

(1) identification, selection and development of a product,

(2) determination of its price,

(3) selection of a distribution channel to reach the customer's place, and

(4) development and implementation of a promotional strategy.

Marketing is a long term approach from the very conception of a product. It is the unification of resources towards the development of product, determining the price of the product after duly considering the cost of production. Selection of a distribution channel through which you can get to your targeted customers, and choosing a suitable means of advertising. Market is the whole process from the conception of a product to the point where it gets to the targeted consumers you wish to package and brand your product for.

For marketing to be successful, it involves in depth work in terms knowing exactly who your target market is. Can you imagine a world without goods transfer from one company, country, or individual to another? That world is ideal. As the world advances, the need for marketing increases and as such there are many folks in the field. The fact is that not everyone has a clue of what marketing is really all about. Marketing is not just selling your goods and services as this might be the conception of many. Marketing deals with all the strategy. The initial conception of a product, the cost of production, the price of the product, the distribution strategy, the feel and look of your product, your advertising media and the mindset of your client after any transaction with you. That’s what marketing is all about. Does your customer feels good and want to come back again and again thereafter?

How do you convince someone with a lot of bills to pay off, children to fend for, and many financial problems to purchase your product. The odds are that you will find it hard. That very skill that enables a marketer to convince a potential buyer defines his uniqueness and professionalism. That is what I call the efficient and effective marketing plan. Efficient here could mean, having the best products and services, the best branding and advertising strategies but what makes marketing effective is a marketers ability to convince his client to pay for his products sincerely (not manipulatively) and still feel good about the purchase.

Here are 7 strategies that will help you make efficient and effective marketing.

THE 7 MOST EFFICIENT AND EFFECTIVE MARKETING STRATEGIES
 

These 7 efficient and effective marketing strategies have been carefully developed through several years of working with independent professionals. Marketing can be overwhelming and unclear. Where do you begin? These 7 strategies are worthy starting point. As you learn and implement them into your marketing, you'll get more attention and interest from prospects and ultimately turn them into great clients who you love to work with. Remember to apply them because that is the only way it can work for you.

1. Identify your market

The first step to developing a marketing plan is making research. You don’t come up one day and start marketing to anyone that you see. You need to make research and ask yourself, who needs my products or services, what age range am I producing for, what’s their level of income, and how do I advertise such that it appeal to them.

Identifying you market is the first step and strategy to marketing success. This is because the better you know your market, the demand for your product or services and the classes of persons that needs your services, the better you can appeal to their needs.

A few ways to research are as follows

•      Watching related and our recommended YouTube videos.

•      Visiting your library for local records

•      Checking trade magazines and business newsletters related to your market for statistics and buying trends.

•       Sourcing out information from other business partners in the field.

•       Making use of traditional questionnaires to access your customers directly.

These are but a few ways you can source information on the market you wish to embark upon. So you can know your target audience and focus on marketing to them. We now have a tool like Facebook targeted advertising to mention but a few. Use this tools and get started identifying your market and knowing who your prospective clientele are.

2. Develop your unique brand.

 A brand according to brickmarketing.com  is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image. ... Branding is also a way to build an important company asset, which is a good reputation.
Polishing your brand look and feel is a good way to create reputation for your business. You could create unique and professional business logo. You also want to keep it simple and memorable but professional and use it everywhere like in business cards, questionnaires, brochures and even websites and blogs.


3. Uncover Your Unique Selling Proposition (USP)

A unique selling proposition (USP) is a factor that distinguishes a product or service from its rivals. This factor could be the highest quality, the first-ever product of its kind or the lowest price. A USP could be thought of as “what you have that competitors don't.”
Your Unique Selling Proposition could also be seen as the main benefit that, when communicated excellently, drives sales of your product or service. It focuses on a unique problem that you solve better than anyone else. Your USP must be captivating and fascinating enough to move people to act. Your USP will be central to all of your marketing interactions, so don't take this step casually.

4. Address your marketing approach

Not only is there an Outer Game of Marketing, there's an Inner Game as well.  The inner game of marketing is about your attitude or mindset about marketing. And like everything else in life, your attitude and mindset determine how you approach something and whether or not you succeed at it. 

However, like I said earlier it's too bad that marketing is so misunderstood.  It might be better to think of marketing as "exploring probabilities." This is because it could either work out or not. Marketing should not be a manipulative or serpentine process. Just the opposite, in fact. In a selling conversation you mostly ask questions and listen to determine if your prospect really needs assistance and if you are able to ethically provide that assistance. Pressure of any kind only backfires.

Your marketing approach matters a lot and really determines the outcome of your supposed marketing. Many independent professionals really tussle with what exactly to ask? How to explain their services? How to close, confirm and ask for the money.

There is a saying that people like to buy and not to be sold to. This implies that as long as they feel good about what is being bought, they purchased it and it was not sold to them. Customers always take that credit. So instead of worrying about how to market your product and services, how about finding means of helping your customer to buy instead of selling to them.

These are simple tips how you can easily help them buy rather than sell to them.
 

1.       Don’t sell

You don’t want to impose a product to your customer or client just because you want to get that one off your store. 

2.       Listen for the problem and connect.

Be sure to always want to sincerely know your customers problem. Ask deep questions that can unravel their challenges. Discover why it is a challenge, what they’ve done to avert it, what worked and what didn’t. It’s only through effective listening and trying to ascertain what the real problem is that you can discover if you can help you prospect or not. 

3.       Help them buy.

If you’ve really figured out that you have a solution that can match what your consumer wants, politely make the suggestion. Hey I have a product that match what you’re looking for, see if you can try it out. Now you can let them take a look while you explain why you think it would for them.

Once you have been able to listen for the real problem, connect with them, and sort out the real solution chances are that they will buy from you and not only will they just buy, they will come back again and again. This is a great approach for marketing. You could use this marketing approach recently working for millions or you can create a similar one that best suites you. The main motive is to help your customers buy rather than sell to them. 

Addressing your marketing approach today can have a more profound impact on your Marketing Effectiveness than anything else.

5. Build Reliability and Trust.

Reliability is the ability of a business organization, individual, or corporate body to consistently perform its intended or required function or mission, on demand without failure or fall in value of product and services.

What you want to ask yourself is can your customers rely on you. Can they depend on you to consistently give them that same service for which they are back at your business premises? Normally business persons tend to deliver great services to first-time customers so as to get them coming back for more. But the truth of the matter is that those kind of customers don’t last, because customers return more frequently to places that consistently provides the promised product or service promptly and without degradation of value.

Want to get successful in marketing then build reliability and trust.

6. Consider creating a website for your business.

Take amazon.com for example, they couldn’t have done any better if there was no website. Today amazon.com is one of the best marketing platforms in the world. This is because they harnessed this important strategy of marketing… “Creating a business website”.

Creating a website for your business goes a long way to get your business to the public. It also has a way of building better reputation for your business. You can easily get in touch with customers, listen to their views and improve.

What you want to do is to create great content that answers the questions of your clientele. Your website should be structured in such a way that you can always get back to your visitors. By this I mean creating a proper contact us page through which you can easily be contacted either by emailing or messaging.

Then you must create great content for your site because this provides valuable information as to what your clients get when they work with you. Your website content could range from free information in the form of web content, articles, blogs, email newsletters, audios and videos. Trust me, you don’t want to be stingy with your information. Get it all out, don’t hold back your best stuff. Remember, what your clients hire is your expertise and ability to produce results. So you want to give it all out so they are convinced that you’re equal to the task.

But most importantly create a means of get-back-to-customers. It could range from a pop up menu after loading your website offering visitors some more information while requesting for their email addresses to a pop up menu displaying the address of your business premises and requesting they visit you over the weekend. If you don’t have the coding capacity to do these things you can consider hiring a website developer to help you out.

Creating content for your site never stops until you close your business. Just create anything that gives your audience more insight about what you do. You don’t have to make all the research in the world. Just keep it simple but proficient. When creating your content you could ask yourself 

•        What message you want to pass across

•        Who you want to impress (target audience)

•        How many leads you can create from this content?

This questions are great to get you started in creating a content that really makes impact. Then your content could range from a story of how you started your business, your challenges, your inspirations even to your experience during the past weeks of business. You know! Anything that could add value to your customers.

The only way to go viral in any business is to create a network and the best way to create a Network is to create a website

7. Efficiency in communication

Communication is the key of marketing.

Marketing is 100% communication and this implies that verbal interactions with your clientele is a very important part of the marketing strategies.
They say, the better you know your audience, the better you (& your team) can appeal to their interests. Well, that holds true as long as marketing is concerned. All fruitful marketing effort begin with in-depth understanding of your audience. Take a look at the following questions…what challenges are your clients facing, have there been any efforts as to tackle it, what worked and what didn’t, and how can you proffer a lasting solution to those challenges. You see how ideal it is to get the answer to the above questions without marketing communication. Trust me without answers to these question there will be no efficient and effective marketing. So to market effective and efficiently, you should consider improving your communication skills.
The four basic communication skills are reading, writing, listening and speaking. But when it comes to direct marketing it balls down to these essential marketing communication skills which are listening and speaking. So mastering these skills “listening and speaking” is a quantum leap to efficient and efficient marketing.
During your marketing conversations, you want to be interested more than sound interesting. You don’t have to do all the talking (speaking) rather do more of the listening. When speaking you want to sound interesting and spice up the whole thing. That’s great, but one thing is for sure you are simply trying hard to sell rather than help them buy. Listening to your clients keeps you interested and makes them feel understood. Start your conversation by asking questions that will get them talking about what their real wants are, where they’ve been, how they were treated and what resulted from the transaction. It is only after you’ve sought first to understand through efficient listening that the solution which of course you will proffer or suggest through speaking will be understood and implemented effectively.
Many independent professionals and beginners really struggle with this aspect of marketing. They don’t see how anyone they walk up to with the right market communication strategy and approach could be a potential buyer. You can never know that if you stay hidden in your cocoon. So if you are in this class what you need is a marketing message. Think of it as that first thing you tell the big guy staring at what a person is standing before him that makes him want to calm down and give you a listening ear or better still answer your questions. Your marketing message is the first thing you communicate to your prospective clients. It is intended to get the attention of your client, generate interest and get your prospect to respond and find out more about your business. Regrettably, not every marketing message accomplish the above.


Take these steps to create a marketing message that works best for you.

Polite and confident introduction: your introduction matters a lot to your client. You want to be very confident, polite and straight to the point. Consider an employee working for Leofinancz companies trying to introduce what we do to a client. A confident and polite introduction would be
“Hello, am Maureen I work  for Leofinancz companies I would like to briefly share with you what we do and how we can add value to your business”
That introduction would most likely get a yes and you can take it up from there. Remember to keep your introduction polite and simple.

Discover your client’s problem: After your introduction and explaining what exactly your business is all about, the next step will be to discover your client’s problem. Now you want to ask questions that will make your client want to tell you what problems his business is facing currently. Maureen could ask them to tell her about their businesses too, while she listen carefully for the problem. If she doesn’t get the bug clearly, she could try asking a couple of questions from “what challenges they have faced in their years as business persons” to “how many times they have tried getting a futile solution and then why”.  This are great questions that can get your client to share their problems with you and that’s exactly what any great marketer wants because the more you communicate, the more the relationship and trust builds. When they’ve generated enough interest and trust in you and your services the prospect may become ready to explore working with you. That's when marketing transitions into selling. 

Proffer or suggest a solution: Now you’ve got their attention and trust it’s the perfect time to make the killing. Go on to suggest a genuine solution at this point you are both connected and chances are that you’re on for a sale.

Show Proof: you could show your customers case studies of happy clients whom have used your services. Showing them proof of your capability in your said profession goes a long way to shorten the decision making process.
Conclusively, I call these the 4p’s for creating efficient and effective marketing massage. Polite introduction, discover the problem, proffer a solution and show your proof.

8. Provide your clientele with Exceptional offers and outshine your competitors.

Creating exceptional offers for your clients is a great way to speed up their decision making process. You don’t want anything that scares them away from making the decision so you locate and terminate. You could find out what your competitors are doing, their strengths and weaknesses and figure out way to outshine them. Exceptional offers could range from a money back guarantee to lower prices for your services. You can also offer to provide clients with door step delivery services and the likes of which will help them reach their decisions easily.

Hope you learned a lot from this post. Hit the subscribe button above and never miss another post from this blog. Also remember to implement this strategies of marketing as that is the only way I can assure your success.

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ARE YOU STILL AN AMATEUR INVESTOR? DON'T WORRY, THIS EXEMPLIFIED READ WILL SHOW YOU HOW TO CHOOSE YOUR INVESTMENTS WISELY

Never too young to invest!

Starting early is a major advantage in the world of investment. This is because you have time as your biggest asset. Any one with spare cash can invest. You don't need to be a professional before you consider investing. Being young gives you the advantage of exploring all your options and the ability to make up for your loses before you need them back. Although investing in general is a trend, the fear of losing attached to it, scares young entrepreneurs away. There are few things you should know while launching into any investment platform, be it stocks, bonds, or startup businesses.

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Investment is dynamic

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Investment is dynamic that is, the trends keep changing. You should not assume anything  as far as an investment (stocks, bonds, startups) is concerned. Some professionals in the field give predictions as to what will be the resulting repercussion in future, based on the present and previous market standings. Yeah! some of these prediction come true but that's what it is..... predictions. As young investors, jumping into predictions without proper survey won't help out.

Avoid predictions and survey the market...Investment is dynamic.

Like i mentioned earlier,  you must not be a professional to start investing. After all Time wasted can not be regained. Time being your greatest asset, must be properly utilized but not with all that fear and anxiety.

Young investors, Time is your greatest asset...utilize it.

Don't know what to invest in? ...here are the steps to take

1. Seek Financial Counsel.
Never assume you know it all for there is always more to learn. It is advisable to hire or consult financial experts on areas of ambiguity as related to your area of specification. Always seek counsel from other investors in your field for successful investors are known to constantly seek knowledge.

Investors, seek knowledge from cradle to the grave
for knowledge empowers you

2. Discover your Niche.

In investment, a niche is a properly defined and well-segmented area of concentration. An average businessman would want to take up the needs of all the consumers in the market as long as they are ready to pay. An entrepreneur without a niche is like a small fish in a big pond, but discovering your niche and focusing there makes you a big fish in a small pond that can't do without you.
Do you want to start investing? Simple....discover a niche which you can operate comfortably and establish yourself. Don't mimic anyone. Conclusively, you don't want to be a jack of all trade and master of none, it always fails in the long run.

3. Overcome Your Fears.

One thing is discovering your niche or area of concentration, another is overcoming the fear to lose. I have met talented young men and women who are willing to launch into the world of investment. But the fear of losing overrides their willingness to follow suit their dreams. Many folks out there have the best business ideas but are unable to make something useful out of them as a result of some ill-fated insecurities. You need to break out from your cocoon of fear and see a whole new world of possibilities around you.

Don't let the fear of losing be greater than the excitement of winning
Robert Kiyosaki

Do you have a good business idea! give it a try and don't allow the fear of losing to weigh you down.

Have you decided to overcome your fears? one more thing

4. Take The Bold Step But With One Foot.

You don't want to rush into something you are still experimenting. Take it gently, a step after the other until you fully understand your niche, analyze your strengths and weaknesses and improve where need be. Never invest money you can't afford to lose or money you will need soon. Always invest with your spare cash. putting all your financial eggs in one basket is a recipe for disaster.

Never test the depth of a river with both feet
Warren Buffet

5. Learn The Market.

Always seek for more knowledge about your niche to discover the trends and move with it. There are many types of equipment for research at our disposal today, you can utilize them to keep yourself updated with the recent changes and upgrades in your niche. you can also meet investors in your niche and share ideas. Learning the market isn't a one day exercise, it is something you do every day. For instance in stocks, investors are always researching, predicting and seeking knowledge of how the next turnout will look like. This is because the stock market is very dynamic and unpredictable. The same applies to investment as a whole. For you to achieve the long-lasting success you must learn to adjust to the trends.

The market is unpredictable and dynamic

6. Value Your Audience.

This is one of the most overlooked aspects of marketing. Young and practicing investors sometimes forget the power of the customers. Your audience are the customers under your niche. Want to make it big? here is the free and simple secret. Value your customers. Treat them as your most valued assets and they will keep coming back.

Hit the subscribe button above and like us on Facebook. Don't forget to share with friends. looking forward to your comments and thanks for being on our team.

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TWO STRIKING REASONS YOU KEEP FAILING IN THAT BUSINESS

Building a business is one thing, another is how the business is managed and the longevity of such businesses or investments. A survey shows that there are over 28 million small businesses in the United States according to SBA, but only about 50% survive and just about one-third survive 10years more.

A business may fail due to several reasons, but the bad news is that most entrepreneurs do not discover this until the damage has been done. I am going to discuss broadly, just two reasons why you keep failing in that business.
 

Failure is a bruise not a tattoo
You can still improve now!!!

1. A WRONG FOCUS

Most investors and businessmen concentrate on just profit making and interest whereas they are not concerned about how the other factors of production must have to work together for the sustainable success of the business enterprise. A greater percentage of young and upcoming investors, businessmen/women start up a business, employs labor and instantly starts expecting high returns, but this is improper. As business persons concerned about how long your businesses can stand the test of time and competition, you should have the right focus which is centered on good customer services. This is a very important factor that determines how long a business can survive. Applying this may not be very profitable at the start, but trust me you will win the market. A good entrepreneur should treat the customers like assets and  not liabilities, he should have a way of making them feel special, important and ensure their needs are properly taken care of by asking some of the questions

like how can we serve you better? how are we doing?, and can we serve you some other time?. This will help reveal the true needs of your customers and how they feel about your business. Having understood how the business is doing and how it can get better, being able to give your customers a satisfying response is what creates the trust and bond needed to elongate your business, stand the test of time and at the same increase the profit level of your business in almost no time. This reaffirms the market statistics that shows that a satisfied customer always comes back with at least 10 other customers craving the same satisfaction. But be mindful it is Vise-Versa when the customer is dissatisfied.

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Good customer service pays!

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One customer well taken care of
could be more valuable than $10,000 worth of advertising
Jim Rohn

2. POOR MANAGEMENT SKILLS

Entrepreneurs poor management and relation skills are one of the major causes of failure in a business enterprise.

It's not the plan that is important,
it's the planning
Dr. Graeme Edwards

The management of a business from the financial management to the front-line employees (customer service department) should be properly trained on basic management and customer relation skills as related to their areas of specification. The best entrepreneurs are known to constantly seek training, learn and reach out to mentors and financial advisors to improve their leadership skills. So, for sustainable success of your business special attention should be given to your front-line employees, by this I mean those that relate directly to your customers. Customer relation training programs and seminars should be conducted at intervals to ensure your front-line workers are at their best and consequently, a proper relationship between your business and your customer will be assured. Employees under this department should be treated with utmost care and handsomely rewarded, as their efforts are what determines the growth of any business.

Marketing statistics shows that a satisfied customer always comes back, but with at least ten other customers craving the same satisfaction.

There are a lot of other reasons why a business can fail but I can't take all that in one blog post. Hope to meet you in my next blog post and don't forget to subscribe. Thanks for being on the team.

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