Business Lessons I learnt from Ada Osakwe - Founder, Nuli Juice on building and evaluating the value chain of your business.
I was in my office few weeks back, when I received a mail from ImpactHER, that I was selected to attend the training for women entrepreneurs, I was so glad and excited to be chosen to be a part of the training. Although because of my work schedule, I could only attend for some hours. I found the training useful and impactful to my business as the facilitators were very real and practical and shared from their own business experience plus lunch time was awesomely awesome! Thanks to Grace Okoli for the connect and I deeply respect and appreciate the founder of ImpactHER, Efe Ukala for selflessly putting this together to support a new generation of women entrepreneurs.
So here are my lessons from ImpactHER training. Hope you learn a few things that you can apply to your own business.
1 .Take time to understand the Ecosystem of your business.
What does it take to open the doors to others in your business. Do your research and do things right. Build a business to leave a lasting impact and to be the first consideration in your business category. It’s important that you understand your competition and supply chain and don’t be afraid to change paths and adjust along the way where necessary.
2 .Build an operational engine room
It’s important to start early and start well. Pay yourself a salary to avoid taking out money meant to be invested into your business to build a sound operations engine room. Don’t be afraid to connect with people and tell people you need them but can’t pay them. Having people you can count on is key as you walk your journey. Don’t be shy about taking on great talents to work with you so they can help you build your operations engine room. Be ready to bootstrap as well in order to get things done even if you don’t have the money.
3 . Focus on ultimate customer experience
You need to focus on creating a great experience for your customers in order to get them speaking for you. In your business, you need to daily find ways to make your customers happy. Learn to also accommodate customers' demands and constructive feedback. Be concerned about their feelings and how you can get them to come back to you. Never look down on one customer. Customer is king. In your customer relationship value chain, attend to customers on the platform which they connect with you whether is WhatsApp or Facebook. Don’t send them to another platform of your company e.g your website to make the same inquiry or purchase. Respond to them on the platform in which they reach out to you. In picking your calls and responding to messages, be professional and friendly and do things to nurture the relationships you have with your customers like giving them special gifts this Christmas season. If you would like to send gifts to your customers, please speak to a gifts expert at O’lavanda Signature or call +234 808 936 1981.
4 .Be consistent in your service
Represent your product right. Consistently reinforce what you believe in as a brand through what you do consistently. Pay attention to those recipes, manuals, activities that have worked for you. Create policies and Institutionalize major processes in your company for sustainability purposes.
5 .Branding and Culture
Build a brand that is consistent in standards and customer experience. Don’t focus on instant gratification. Build a financially responsible company and hire an accountant on a part-time basis to audit your business account monthly. Don’t spend all your profit. It's essential to have residual profit as investors look out for a well audited account and your residual profit before investing. Build a culture and a business that is not just profitable but leaves a lasting impact in the lives of other people and the community at large.
If you enjoyed reading these lessons, then please take out time to leave a comment below and let me know what you'll do differently in your business moving forward. Thanks and have a happy weekend in advance.
It's here again, Success Stories Africa. I'm specially inviting you to be a part of this edition.
Being successful is a habit. Being a mediocre is also a habit. Young Nigerians will be empowered to cultivate new habits and change history at the 2017 edition of the annual Success Stories Africa. Widely acclaimed as the most impacting gathering of young people in developing communities, Success Stories Africa is focused on increasing the number of empowered youths above the weaklings.
According to the convener, Isaac Oladipupo, “As a people, if we don’t meet needs in the society, we won’t be needed, let alone relevant. It’s high time we stopped consuming and started looking inward to create products and services that will be used globally. We must turn around from being a consumer oriented economy, to a producer oriented economy.
Barrier-breaking speakers who will reveal their success stories at this gathering include Bovi Ugboma [Ace Comedian], Olakunle Soriyan [CEO, Olakunle Soriyan Company], Toyin Abraham [Award-winning Actor], Dayo Adeneye [Commissioner for Information, Ogun State]. This illuminating event will also feature a special panel session with Shola Okubote [Founder, woman.ng], Evans Akanno [Founder, Cregital], Kemi Filani [Nigerian blogger], Azeez Makinde [Nigerian blogger] and John Obidi [Founder, SmartBCamp].
Date: November 11th 2017
Time: 9am to 3pm
Location: TLC Auditorium, 599 Lagos Abeokuta Expressway, U-Turn Bus-stop, Abule Egba, Lagos, Nigeria.
Inquiries: Please call 08027855262, 07059612290, 08039612164
Save the date! See you there!
About the Author
Onyinye Etoniru is an author, lover of God and entrepreneur. She teaches life and home management from God's perspective. True Lessons With Onyinye is a mixture of true inspiration, true stories and true lessons on #WealthMatters #LifeMatters #SoulMatters #BusinessMatters #HomeMatters.
The 70 Nugget quote collection is powerful and deep. Its message is compelling; revealing relevant truth to start your day, go through your day and end your day in victory.