How to Build a Profitable Small Business From Anywhere in the World
In the 21st century, a lot has changed. An average dude can start a profitable business just using a corner of his house and grow it into something big.
I started my financial coaching company from a room in my house. Although, the business has grown, I still run it from home.
When I was dating my wife, I sold her this same model and she ran with it. Today, she runs a profitable law practice from home.
The point? As long as you are determined, with a few tweaks, you can get yourself pretty set up and build something fantastic for yourself.
In this article, I will share with you some cool points to help you succeed in doing that. Let’s get right in.
Know that size is no longer a function of building, number of workers and all those other old metrics that were used to measure business progress.
Now, size is a function of revenue and reach. That means, how much you make and how many people you can serve are the most important stuff right now.
So, for instance, if you are going to run a small but profitable business in Nigeria, you have to make that mindset shift first to enable you leverage on the common things around you to get started.
If you can successfully get your ideas out of your head and push it forward, you can start a brand from anywhere.
Unique Value Proposition
Get a strong unique value proposition (UVP) and serve a niche market. If what you offer is new and you have properly tested to know that the market is willing to pay for it, brand properly, get the leanest version of it into the market and start selling.
Don’t be afraid to be different and even take a bite on the big guys.
You can start a business that can favorably compete with any of the big brands. Your uniqueness could be customer services, speedy delivery, convenience, a unique perspective, etc.
Just make sure you deliver value in the way that the market wants it and get paid doing it.
Respect your buyers, especially the early ones. The early adopters in your business are your true evangelists who will help you grow your brand into something profitable.
They were the first people that weren’t afraid to give you a chance. If you treat them well, they will love you and even bring you a lot of people.
Besides, they are the evidence you need for old adopters and doubters to open their wallets for you. So, treat them well!
Your word is your value
Make a promise and keep it. When you say you deliver in 24hrs, make it so or less and if the inevitable happens, be professional enough to inform the customers ahead of time. It is pretty annoying to know that many small businesses tarnish relationships with their customers by failing to keep their promises.
Just imagine how profitable a business would be if you can promise a 7-day delivery and do it in 3 or 4 days!
Any tailor that does that for me will be my tailor for life!
Develop a unique brand voice and keep it consistent. Don’t think because you are small, you can be a tailor today and a barber tomorrow. You need to be consistent and maintain your voice in the market place in order to grow a profitable small business.
Use the internet
The internet and social media are your cheapest tools, be good to them. If you are really interested in running a profitable small business, then you must use the internet and social media to your advantage. There is really no easier or better way.
Everything is going digital and social right now. In fact, big businesses are struggling to get in.
So you can then leverage on this freeway to catch a large part of any market and profit.
For starters, this also doesn’t have to be anything huge.
You can start with a WhatsApp blast messages or even a WhatsApp group.
With this, you can build a community of unique users who can help you run a profitable business.
I know a lady who does a 9 to 5 but runs a profitable kiddies business selling just to a group of women on WhatsApp.
Use storytelling and based marketing. Learn to tell stories that sell. I call it storyselling. Businesses right now are no longer much about products as it’s about the stories behind the product and how well they are told.
Be the chief storyteller of your business and do a pretty good job at it. This is how to get people’s attention very quickly.
Educate your buyers
Use education-based marketing. This is the new way for small guys to take businesses from the big guys. If you can be the teacher in your industry, you will profitably corner the market.
Regularly share tips, how-tos, ideas and general helpful information about your products and services.
People want to learn, they want to know more and make a more informed buying decision, help them. If you do this right, when they are to buy, you will be the only brand they remember.
This is how to get attention. Apart from that, it’s also the easiest and cheapest PR.
If this is properly combined with storytelling, you can build a small big money business from your bedroom.
Start small, think big then grow fast. This is where so many people miss it and it shouldn’t be you.
It’s okay to start small. But it’s not okay to remain small. And by that, I don’t mean going to rent a big shop and employ the whole of your village. I mean improving your products, your delivery, your branding, and everything else that brings money into your business.
You can even go international, start looking for grants and funding opportunities or even sell off your business and move on.
All this and more will happen for you only if you think big because that is what will guide you to build something interesting even if you are doing so from your bedroom.
It’s now easier than ever before to be that small guy form the corner that runs a profitable business. Find a way to make that to work for you and start today.
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