Are you an entrepreneur looking for the secrets to business success? Check out what the top African achievers know that you may not.
Success Secret #1 : Start small, think big
Although it’s good to dream big, it’s always best to start small. Don’t try to do everything at once. Take your business one step at a time. Start with a simple idea that is effective and affordable, and gradually build your business to where you want it to be.
Success Secret #2 : Get practical
If you’re looking for a great entrepreneurial idea, why not look right in front of you. What do you need? What service or product is not on offer in your local marketplace? Taking ideas from you personal experience could lead you to fresh business beginnings.
Success Secret#3 : Tap into trends
Find out what’s happening in your industry in other parts of the world. Take note of current trends both locally and internationally to stay in touch with what the market wants.
Success Secret#4 : Stay strong
Don’t get discouraged if you do not have the knowledge or experience to perform certain tasks. Identify the strengths that you do have and build on them. Look for ways to gain the skills you need.
Success Secret#5 : Log on and learn
Need more information? Then why not refine you internet research skills. There is more information available online than ever before. Taking advantage of technology can help you on your way to success.
Success Secret#6 : Approach the pros
If you need guidance, why not ask local businessmen and women to share their experiences with you? Hear what they have to say about running their own business and learn from the stories they share.
Success Secret#7 : Stay professional
Open a different bank account for your business. If you keep your personal account and company account separate, you are in a better position to effectively manage your finances. This will also help your credit record if you ever need to apply for finance.
Success Secret#8 : Seek support
Sometimes working with other people, organizations or groups can be a way to move your business forward. Consult government agencies, trade associations and any local development institutions to see if they are interested in forming a business partnership.
Success Secret#9 : Network Network Network
Possibilities to further your business goals can often come from people you least expect. Perhaps someone you met a week ago will put you in touch with a new business partner. Develop and maintain contacts and connections with people in all lines of business to keep abreast of opportunities.
Success Secret#10 : Ask around
Find out how your product or service is doing by asking your clients for feedback. Gather their opinions and act on their comments to help you stay on top of your customer needs.
Success Secret#11 : Go with the flow
Sometimes things don’t always work out as planned, so be flexible and open to new ideas for your business. You have to be able to adapt to changing situations in order to succeed.
Adopted from the Africa Report
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
Email: | hello@abacus.co.ke |
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