Tips for growing your business

▪ Demand & Supply : Is there a need for your product? How big is the need/potential market? Who are your competitors? What value do you provide that they don’t? What pricing do they offer? What is your pricing plan?

▪ Financial management:  We have seen many businesses making huge revenues go under due to financial mismanagement- learn the mistakes to avoid. Do you presently have books of accounts? CRB & Tax compliance? Have you separated your personal & business finances? Learn the finance basics – after all you’re in business to make money right? This money that you have make also has to be managed properly. Terms like management accounts, amortization, depreciation, inflation should be familiar to you by the time you finish the workshop.

▪ Team: Team work makes the dream work! Your team is more important than the product because it is they who make the business to run.  The product may change, but the team always remains the same to execute – this team includes co-founders, board members or advisory committee, management team and all the other staff.

▪ Hiring: Hire the team for attitude and competency rather than for convenience and budget. Consider behavioural, on-the-job interviews that reveal true character. Learn how to manage the expectations of the millennial generation 

▪ Marketing & Sales: You may have a great product but if you don’t know how to sell, it will not make you any money. Marketing & sales is an acquired skill – ensure that you have a marketing and sales plan to guide you or help to do it. We cover this topic in detail in the workshop.

▪ Client retention: It costs you more time, effort and money to get a new client as compared to growing an existing client. After a sale, make sure all your present clients are happy and they will either increase their present spend or give you referrals. Have you heard of the term CX (Customer Experience)? Work tirelessly to keep improving it every day.

▪ Fundraising: Once your operations are in order and your financial management is stable, we embark on a fundraising journey for your business.

Leave a Reply

Your email address will not be published. Required fields are marked *