A good year in the coming days, there is time for any small business owner to plan, set goals and achieve greater results in life and business.
For small business owners, the economic downturn has meant staying in business is being able to make the right choices and decisions at the right time about crucial areas of the business especially in marketing of products and services as I said before in another previous article on Grocery Store.
See it below on the Related Posts. Now, let me start with these following lists in explanations here:
How Small Business Owners Means
The meaning of this is that those who start small as if they are new, as if they never expect that one day they will go to become most successful small business owners lor as if they have faith or as if they have little money and grow in time are called small business owners.
In other words, small business owners are those who start something with little they have or with a fewer employees they can work independently or they can manage well or with a few equipments they can use.
They start small when they have idea or when they get idea from above or from inside them or from people or newspaper something any where they come across that spurs them into action quickly.
Small Business owner Examples
There are some small business ideas you can start small since they do not cost you millions to start. Examples are here.
1. Beauty Salon.
2. Bakery business.
3. Catering service business.
4. Cosmetics wholesale business.
5. Toiletries distribution business.
6. Franchising business.
7. FMCG wholesaling business.
8. Grocery Store.
9. Drugs/medical wholesale store.
10. Small manufacturing units.
11. Electronics wholesale business.
12. Beauty and skin care business.
13. Baby products.
14. Clothing and accessories.
15. Car accessories.
16. Cleaning service.
17. Wigs wholesale/retail business.
They do not require you more cost and more workforce. They can make you rich if you make a right choice or a bold decision.
Who are most famous and most successful small business owners in the world?
Most famous and most successful small business owners in the world from Africa to some other countries outside this country are as follow here as an example:
1. Aliko Dangote who started small in cement business as a major distributor he was loaned with just 200k by his father and grows bigger as an industrialist in many different products he acquired and manufactured.
2. Sir Kesington. A. Adebutu who started small as a lotto agent in his kiosk after leaving school and grew worth of billions by expanding his different investments from agriculture to other factories.
3. Samuel Adedoyin who started small as a street trader on imported stationeries after he left Ghana because all he tried to escape from Nigeria was in search for pasture aboard through Ghana and grew in mutilple billions as a chairman in many different products and services from banking business to others.
4. Bill Gates, who started small in his bedroom he bought copyright software and become one of the richest men in the world.
5. Jeff Bezos who left his job and started small and built his venture online to build billion dollars in annual revenue.
I do not see most successful small business owners who started big and grew big.
And I do not see see failure small business owners who started small and build wealth.
To become a business emperor is to start with the little or nothing. This is a law. This is principle any business owner must follow it.
4 Best Small Business Tips For success as a small business owner
Here are some tips on making a success of this (coming) year.
1. Products And Services You Should Offer Cheaper
As they said, Fingers are not equal. Many customers can't afford the cost of the products and services they are offered by some of the blue chip companies.
And though they have a large share of the market, they don't have it all yet.
So take advantage of this opportunity by offering customers something cheaper.
While many will go for the high end of the market and demand the highest quality, you are sure to find many customers who can only afford a lower price of the same goods or services.
So if you want to make a success as a small business owner, go for these customers.
2. Don't Advertise Like A Big Business
When big businesses do advertise, it is because they want to create their brand name recognition and future sales. They pay millions for dangling adverts on their products or services. But for the meltdown, they may cut down on adverts.
Instead of advertising like a big business, you should go for the the jugular and design adverts that can bring you more sales immediately.
Or use free or paid social media like WhatsApp business, Instagram, TikTok to advertise your product or service. It is so cheap even when big businesses use it.
And the best way to do this is to add an incentive to the advert that will make customers demand for the good or service from you on the spot if possible.
3. Make Your Marketing Drive Creative
When there is economic downturn for example, it means there is little cash in circulation.
To position your business to make a profit from the previous paucity of funds is to go for creative methods of marketing your goods or services.
So be observant and ask yourself, "How can I make things better?" The more you think and come up with the unusual methods, the better for your business.
And the customer will be surely be drawn by curiosity and since the competition are all doing the same thing, your unusual methods may win you more sales.
4. Give Priority To Existing Customers
It is the dream of entrepreneur to win more and more customers everyday and make more sales from them
But it is easier and costs less to get sales from existing customers who already know you well and trust your products and or services than new customers.
It is therefore important to give priority to these customers and give them special deals available to only existing customers who have been loyal to your brand name.
Final Thoughts
Each of these 4 marketing tips provide a simple, low-cost way for you to find and create more customers and generate sales quickly.
And if you understand how small business owner means and practice small business tips for success, then you can start as s small business owner and build a multi-million enterprise on your patience, trust and persistence.
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