BUSINESS SENSE – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Sat, 23 Nov 2024 21:53:37 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png BUSINESS SENSE – Tech | Business | Economy https://techeconomy.ng 32 32 How to Position Your Business in the Age of the Customer [Part 1] https://techeconomy.ng/how-to-position-your-business-in-the-age-of-the-customer-part-1/ https://techeconomy.ng/how-to-position-your-business-in-the-age-of-the-customer-part-1/#respond Sun, 24 Nov 2024 23:10:48 +0000 https://techeconomy.ng/?p=148098 There is a continuous evolution of customers. In the marketplace today, there is the rise of an army of super-enlightened customers. These customers have myriads of options like never before in human history.

These customers have the unmatched ability to price, critique, and purchase anytime, anywhere. They have any desired information or service available on any appropriate device, in context, at their moments of need. This reaffirms the statement that a customer is king.

Customers come first

In every business, the customers and their needs always come first. Without a scalable path to customers, even the best products die a silent death. You have no business is you have no customer to patronize you.

The number one people that matter in your business are your customers. Always start with your customers. Get to know what is important to them and attract them to your business. Find out what they are really paying you for, and how you can provide that value for them.

Making your customers come first is a mindset. Let’s call it a customer-centric mindset. This is a mindset every enterprise should possess in this age. There are many data to prove that customer-focused and customer-centric enterprises always win. When you make your customers come first, they will make your business come first.

What does value mean to them?

Your customers want to feel that you understand their definition of value and have a solution that reflects their priorities.

Businesses that survive and thrive take care of their customers. When you step into the marketplace, it is a promise to anyone who identifies with you that you are there to serve them like no other.

This promise is based on their compelling needs and wants.

Great companies don’t just know what their customers want, and how they want it, they anticipate what their customers would love and go ahead and provide it for them provide it for them. They focus on delighting their customers and keeping them happily surprised on a regular basis.

Customers care about their problems, more than they care about your solution. That means before customers can use your product, they have to fire any existing alternatives who directly or indirectly are your competition. Your solution only makes sense to them, when that solution is the answer to their problem.

Customisation trumps standardisation

There is a new kind of demands in this age of customers. The customers’ insatiable tastes and desires are mounting pressure on enterprises to meet those demands and exceed them. Your customers have new expectations. They have changed what they buy and how they buy, and prefer customization, not standardization.

First, you standardize your offering to them, and then optimize it, through customization. By showing that your product is not the perfect solution for everyone, you increase the chances that your customers and prospective customers will listen to why your product is perfect for them.

Today’s customers don’t like one cap-fits-all model, and can be jealous. They want you to demonstrate that you know them better, and understand what they want. When they perceive that you want to be everything to everyone, they tend to draw back.

We have a growing number of customers who subscribe to certain products. And every one of these “subscribers” has their unique expectations and experiences.

Without customers who patronise you or a sizeable market that you serve, you will not succeed in business not the talk of experiencing growth.

[Featured Image Credit]

About the writer:

Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR. He maintains a personal blog, where he shares proven business ideas and principles for SMEs.

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The Three Critical Partners for Your Business Success in 2024 (Part 1) https://techeconomy.ng/the-three-critical-partners-for-your-business-success-in-2024-part-1/ https://techeconomy.ng/the-three-critical-partners-for-your-business-success-in-2024-part-1/#respond Fri, 22 Dec 2023 08:11:28 +0000 https://techeconomy.ng/?p=121097 It’s no secret that business success today revolves largely around people, whichever way you look at it. ‘All of us’, Malcolm Gladwell once taught, ‘gravitate towards things that mean something to us, and for most of us that is people’. All business is people business.

First, the people you serve – your market. Then people who work with you – the team you build, and the people that you work with – your strategic business partners you collaborate with. People are everything, and they are your critical business partners.

Let’s take a brief look at how these partners are central to your business success in 2024.

1. The people you serve

Business is a means of touching lives in a way that tells your market (customers) that you understand their needs, expectations, and wants and that you are willing and able to meet those needs like no other. This will become very significant in 2024.

Customers are always attracted to businesses that demonstrate that they understand their problems, and have created remarkable ways to address them.

When a customer goes out looking for a product, he doesn’t care how much you know about the product, he only cares about himself – his time, his feelings, and his money. The customer does not care how good you are but what is in it for him or her.

After all, there are so many choices available to the customers. To use your product, they have to fire someone else. The customers wouldn’t want to settle for anything less than what they want. Instead of less, they always want more of what would address their immediate and future needs and expectations in 2024.

Your ability to know what your customers need, meeting those needs, and your relationship with your customers could be your utmost competitive advantage. Customers are meant to be taken care of, and those who look after them the most win and keep them for life.

Being superior in product knowledge but inferior in the market’s knowledge will produce minimal results. Always take the time to listen to both your customers and prospective customers to find out what they actually care about.

Without your market (customer), your business is dead. You are in a partnership business with your customers, no matter what you do and where you do it. So, quit the business you think you’re in right now (whatever it is), and get into a working partnership with your customers. That’s where the real game is in the new economy.

Your customers do business with you not because you are the best, but the preferred. They like you and enjoy the rapport they have with you. Without a scalable path to customers, even the best products die a silent death.

Your customers are your best and biggest investors. In case you may have forgotten, an average customer has a huge lifetime value. Your business success can only grow when you recognise your customers as the investors that they are, and the value they bring to the table.

You are in partnership with everyone who touches the business. If there are critical stakeholders you have in business, your customers are the number one. They work with you to make your business successful.

About the writer:

Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR. He maintains a personal blog, where he shares proven business ideas and principles for SMEs.

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6 Critical Hacks to Transforming Your Business in 2023 (Part III) https://techeconomy.ng/6-critical-hacks-to-transforming-your-business-in-2023-part-iii/ https://techeconomy.ng/6-critical-hacks-to-transforming-your-business-in-2023-part-iii/#respond Mon, 06 Feb 2023 00:15:27 +0000 https://techeconomy.ng/?p=92832 5. Improve your skillset

[You May Wish to start reading from Part I HERE]

You will be limited in whatever you do by your skillset including in business. This is the age of skills. It’s the skills that pay the bills more than anything else. Making huge sums of money today in the marketplace consistently requires a set of skills.

Taking your business to the next level starts with taking yourself to the next level. It only happens in that order, and that begins with acquiring the right skills that will help you to do that.

The more skills you have, the more business opportunities that you create, and the value you have to offer in any situation.

Acquiring a new skill is like adding a new tool to your toolkit to handle any business situation. Investing in problem-solving and high-money-making skills is the smartest decision you can ever make. The skills you lack will always limit your potential to grow in business.

You can improve your business by acquiring skills relevant to your field of pursuit. One of the vital skills you must possess, and should constantly upgrade on is your ability to sell. The ability to sell is the primary skill everyone that wants to succeed in business must possess in good measure. It’s a must-have-skill.

The interesting thing about the skill is that any skill can be learned, and with practice, you get better at it. All you have to do is learn the skills that will enable you to put in more work, and hence advance your business beyond where it currently is.

But you can’t improve what you can’t measure. On a scale of 1 to 10, measure your skillset. Where are you at? What new skills or knowledge do you need to acquire to advance your business in 2023? So, roll up your sleeves and get to work improving your business by improving your skills.

6. Commit to taking enough action

If you really want to grow your business in 2023 and beyond, you’ve got to go out there and take massive action like never before. It’s either you do more than what it takes to lead in your industry or nothing. In the words of Grant Cardone, ‘The marketplace is brutal and will punish anyone and everyone who does not take the right amounts of action.’

You must learn to approach every day as life depended on the right actions you take There is a saying that, ‘The more actions you take, the better your chances are of getting “lucky”.’ I completely agree with that.

You business will grow or shrink this year because of something you will do or will not do. So, show-up where showing brings the win. Keep showing up over and over and make it obvious that you are here to stay.

What actions can you take today to move me toward these goals? What do you do best now? What do you need to work on more? Let these questions and the answer you provide with the corresponding action to make guide you in this new season.

Always stick to the things that produce the best result. Don’t just stop there – systemize where necessary, and keep fine-tuning the system so you can duplicate and multiply the results.

You can dominate your market by doing what every other person does. You have to rise above them by going beyond the average. The average amount of input will not make your business grow substantially. It hasn’t and it won’t.

Any apparent limitations you are experiencing might simply be the result of thinking and acting average. Remember, anything average will never get you to an extraordinary life. If you truly want to accomplish whatever business goals and plans that you have this year, you must meet our problems with the right and massive action.

In conclusion, there are no shortage of business opportunities in this new season but shortage of knowledge of how to tap them. It is time for you to lose the old you and be reborn.

How badly do you want your business to transform? The action you take after reading this piece will tell us how.

End.

About the Author

Business Sense by Tony Ajah
Business Sense by Tony Ajah is available for purchase HERE

Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR.

He maintains a personal blog, where he shares proven business ideas and principles for SMEs.

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6 Critical Hacks to Transforming Your Business in 2023 (Part I) https://techeconomy.ng/6-critical-hacks-to-transforming-your-business-in-2023-part-i/ https://techeconomy.ng/6-critical-hacks-to-transforming-your-business-in-2023-part-i/#respond Mon, 09 Jan 2023 06:18:37 +0000 https://techeconomy.ng/?p=92821 To embrace a new business path that is rewarding in 2023, you must intentionally  transform the way you approach your business. It’s when you take 100% responsibility for your business that something magical happens.

There is no shortage of business success – the type that you desire. Any apparent limitations you are experiencing might simply be the result of not knowing and doing the right thing. The output will always depend on the input. So, if your business sucks, it’s largely because of you. To get a better result, you must transform!

Let’s look at six ways you can transform your business in 2023.

1. Gain clarity of what you want

If you are to get an outstanding result, you must first clearly define it before any other thing. You have to be clear about your goals and the boundaries within which you must take actions to achieve them.

Clarity is the most critical personal leadership skill. It helps you to make decisions and take corresponding actions with ease. It’s hard to make choices that get you to where you want to be, when you are not clear about those choices.

Clarity is strength, and it enhances you personal power. Once you have it, everything else gradually falls into place. You’d have clarity of purpose, clarity of plan, and clarity of action/responsibility for your business this year.

Clarity within leads to exceptional results without. What is it that you want in 2023? Gaining clarity of what you want is the first step to realizing it. Whatever height you want your business to attain is achievable when you are critically clear about it. Always remember that true clarity comes with simplicity.

2. Revamp your thinking and mindset

The year 2023 will demand a new you. The market conditions won’t improve until you improve the way you think and approach the market. The trip from a struggling business in 2022 to a great business in 2023 is a mindset thing. You can only go as far as you set your mind to go.

So, to conquer the world that you seek, you must first change your mindset. You must possess a mindset that would make you believe in yourself like you never have before. You cannot get to the next phase of your business without a grander mindset.

All actions and efforts to reach your business goals in 2023 will be useless until you fix every limiting mindset. Most of the time, we keep doing the same thing, and blame external factors for our poor performances, instead of looking within at our beliefs, thought process, and mindset.

You can’t rise above what you believe of yourself. After all, you can only drive your business to the extent that you believe you can, or make up your mind for. When you do, there is an expansion in your horizons that opens your mind to a whole new world of opportunities you never thought possible.

It’s when you have changed the quality of your thinking that every other thing changes. And no one is going to make it happen for you but you. Why not make it a year that will change yourbusiness trajectory forever?

…To be Continued.

About the Author

Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR.

He maintains a personal blog, where he shares proven business ideas and principles for SMEs.

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