Tag: Small Business growth
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Essential Tools Every Small Business Owner Should Use
Starting a small business is exciting, but statistics show that approximately 20% of small businesses fail within their first year, and nearly 50% do not survive beyond five years. Many entrepreneurs begin with enthusiasm but struggle with challenges that hinder growth and sustainability. Issues such as poor financial management, ineffective customer engagement, and operational inefficiencies…
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SMEs as Drivers of Inclusive Growth in any Economy: A Case Study of the Nigerian Economy
Adelowo Ayodeji 14 min read Small and Medium Enterprises (SMEs) have long been recognized as the backbone of economies around the globe. These businesses, which typically employ fewer than 250 people, play a pivotal role in driving innovation, creating employment opportunities, and fostering economic growth. In the context of Nigeria, SMEs contribute significantly to the…
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10 Budget-Friendly Strategies to Scale Your Small Business in Nigeria
Growing a small business in Nigeria can be tough. The market is competitive, customers are diverse, and challenges like unreliable infrastructure and limited funds exist. However, small businesses play a huge role in Nigeria’s economy, creating jobs and driving growth. Scaling your business doesn’t have to cost a fortune. It’s about being smart, finding creative…
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How To Run Your Business To Scale
Running a successful business, especially when aiming to scale, requires a diverse skill set such as financial management, sales and marketing, customer services, communication and negotiation, networking, leadership and many others as a business owner. Yeah, I know we see these things even by simply searching on any search engine, however sometimes its just a…
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From Ordinary to Outstanding: Transforming Your Small Business with a Strong USP
In a world where customers are spoiled for choice, running a successful small business requires more than just having great products or services. It’s about being memorable and standing out. The secret ingredient? A Unique Selling Point (USP) that defines what makes your business special and irresistible to your target audience. A strong USP not…
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How to Turn One-Time Buyers into Loyal Customers
In the competitive world of e-commerce, or let’s say, the business world generally, turning one-time buyers into loyal, repeat customers is essential for business growth. One advantage of loyal customers is the repeat sales they bring to the table, but not only that, they are also a connecting bridge to other potential buyers. As a…
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How to Craft Compelling Product Descriptions That Drive Sales.
In the ever-evolving world of e-commerce, product descriptions are critical in influencing customer decisions. A well-crafted product description informs potential buyers and persuades them to click the “Buy Now” button. Many online business owners underestimate the power of a strong product description, often treating it as an afterthought. But a compelling product description is your…
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5 E-Commerce Mistakes You Are Making And How To Fix Them
In the rapidly evolving world of e-commerce, business owners are constantly faced with challenges that can either make or break their businesses. While the potential for success is immense, so too are the pitfalls that can derail even the most promising ventures. In this comprehensive guide, we’ll explore the common mistakes e-commerce entrepreneurs make and…
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How To Grow Your Small Business In Nigeria This 2024!
Growing a small business in Nigeria can be challenging due to inflation and the ever-changing economic policies. Today, fuel scarcity, tomorrow dollar increase, and unfavourable government policies every other day. This article will provide actionable tips that’ll help your business stay afloat despite these setbacks. Remember our 2024 mantra, “No gree for anybody?” Yeah! You…