10 Strategies to help you Succeed in Business in Kenya
Strategies to Succeed in Business in Kenya – To Succeed in Business in Kenya today, you need to be flexible and have good planning and organizational skills. Many people start a company thinking that they will turn on their computers or open their doors and start making money, only to find that making more in a business is much more difficult than they thought
- Get Organized
To be successful in business you need to be organized. Organization will help you complete tasks and stay on top of things. Create a to-do list each day and as you complete the item check it off your list. Therefore you will not forget anything and making sure that all the tasks are covered.
- Your Company, Your Asset
Learn to understand and appreciate your company as an asset. If you were to sell or to divert your time elsewhere could the business survive without you? Build a business that is bigger than you. This will allow you to keep the business vibrant and growing forever with or without you.
- Plan, plan and plan some more
You need a destination and you need a map to go there. There is nothing wrong about planning for your success. A business plan helps the business owner to think thorough issues and understand problems. Create a strategic plan for the company have long and short term goals. The short term enables greater accuracy in completing the action steps to achieve the key initiatives.
Who is your customer, where are they located and how large is the market? When they look at my company what do they see? Take time to understand your customers and consider how they react to your products/ services. it is easy to create marketing materials but the magic comes if you have strong strategy behind that, that’s focused on objectives you have targeted to customers you are trying to attract. Social media is an incredible asset to any business which builds a network of followers, friends and supporters that you can count on.
- Learn to sell and keep learning
One can excel in every other step, but business success will depend greatly on how well you can sell. Learn the art of selling, get outside help where needed. There are 6 aspects of sales, the Society – knowing who is being targeted and who the ideal client is; Silo – identifying the niche the business can dominate; Solution – recognizing the problems the business can solve that on other business can solve; Strategy – developing a plan; Structure – accountability, management and compensation of the sales force; and Systems – the methodology that the business deploys.
- Analyze your Competition
Competition breeds the best results. To be successful, you can’t be afraid to study and learn from your competitors. After all, they may be doing something right that you can implement in your business to make more money.
- Manage People, Process and Benefits
Making a business successful as a lot to do with the ability to attract and retain quality employees who will be the face of the business. A benefits program as part of the company compensation package is a tool to build loyalty within an employee pool. It shows how much an employer cares about them, and employers who care get employees who care.
Accounting is important when you are starting a business, you get to know what you’re getting into in terms of numbers. Financial statements show the health of the business. Make sure as a business owner you understand the ins and outs of cash, plan to build wealth, pay taxes, provide benefits for employees, and compliance measures. Dealing with customer debt is an issue in business you should ask yourself how risky is the client? Should the business collect a retainer up-front? Keep your business account separate from your personal account. For financial reporting, establish good policies and procedures dorm the beginning. Have consistent policies and procedures in place so that as you add people the organization, you will continue to record transactions in the same consistent manner.
- Retaining Customers, Maintain Communication
Customer service is the differentiator of business, your competitors will be able to copy your products or service but they can never duplicate people. As a business your number one focus should be trying to build a relationship not just complete a transaction. Get to know why the customer prefers your products/services and help them find success in using your products/service. They will get emotionally attached to your company and this is a proactive contact as well as in reactionary response to complaints. With social media complaints and issues today travel fast, ignoring compliant can hurt your business brands but dealing with them can potentially promote it.
- Invent or Improve
Technology is important for its ability to help businesses scale up to provide consistent results. The advantage with technology is that it enables business functions to connect directly with each other. However technology keeps evolving therefore as a business you either invent or improve with the times. This will help in faster delivery of products/services, to making you an efficient business. No matter how great your product, you must perpetually innovate your offerings or die.
Always remember that you can never make a successful business alone you will need help so it is critical that you understand at what point you really need help. Feel free to Contact Us today for a Free First Consultation Session
