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7 Pillars of Business Success – Part 2

Last week we began to talk about the 7 Pillars of Business success; if you missed part 1 – click here to go read it
 
In today’s article, we are going to talk about the second pillar – “The Business Process”
 
Before we continue with the article, here is a quick reminder:
 
If you are interested in information and internet marketing business, but you missed the opportunity to get the Process DVD last week, here is one last chance to get the Process DVD and to Join the N950daily business – once again. The opportunity is open from Monday to Thursday this week only – Click here – Process DVD and the N950daily business.

If you also missed out on Joining the importers buyers forum and the  travel business partnership, we are honoring the numerous requests we have received from our readers by opening up these four programs from Today until Thursday 12th February. For Import Buyers Forum – click here and for Travel Business Partnership – click here.
 
After deciding on a successful product in business, the next thing you want to get right is your Business Process. What do I mean?
 
Your business process is otherwise known as your business method, this is a collection activities or tasks that starts from idea conception to production and delivery of your service or product into the hands of your customers.
 
Every tiny little bit of work from idea conception to product / service fulfilment is your business process. And you need to get it right. If your process is faulty, business will be stressful and it can ultimately lead to losses or even complete shut down.
 
Take for example, someone who wants to open an online shopping store to sell cosmetics. There is a lot involved in the business process. First you’ll have to know about cosmetics, the one suitable for your customers (black, white, Africans, Indians or Chinese?).
 
You’ll have to know where to source or produce, then you’ll have to know how you want your website to work, do you want customers to be able to pay online, if they pay online do you want them to provide delivery address, emails, phone number? How will customers feel about dropping their personal details on your website and how do you plan to deal with it?
 
What of product delivery? How do you plan to get your cosmetics to a buyer in Kano state within 24hours when you are based in Lagos, without sacrificing your profits?
 
All these business processes need to be figured out and organized in such a way as to ensure business profits.
 
Some entrepreneurs have great start up ideas, in fact, many people start right, they spend lots of money to set up shop and then suddenly after 12 months, they are struggling, they can’t pay rent (online or offline – your online rent is your annual web hosting fees) and then before you know it – the business is no more!
 
One reason businesses fail is because the business owners fail to learn and implement what they need to know about the processes required to keep their business profitable.
 
Another example worth sharing is from our very own ServiceForts. Early in the business, we discovered that 24/7 access to the internet and light (NEPA) was a major requirement for the business to succeed. So we decided within the second week of being in business to invest in the best internet of that time and an inverter.
 
We did this because, we would resume work at 8am in the morning, and Nepa would not supply light until 6pm when we were about to close from work. Working hours was rendered useless because we had no access to our computers.
 
We discovered if we didn’t do something fast, we’ll be telling customers stories every time they called for product delivery (i.e. fulfilment of our promises) which would lead to dis-agreements and tension, plus our rent was ebbing away and if we didn’t get business done at a profit before rent expires, we won’t be able to pay for the rent in the next year. So we had to act – FAST.
 
This was way back in 2006/2007 where having private access to the internet and inverters were considered luxuries and were pretty expensive. But it was a vital part of our business process which needed to be in place, else our business would have been extinct within months of take-off.
 
Every business has its own set of processes, technicalities and vital activities from conception right unto the point of getting the goods/services into the hands of its customers.
 
The duty of you the entrepreneur is to set up business process that ensures consistency in the delivery of your business promises to your customers. Once your processes are in sync with your promises to your customers, you have set up shop for a successful and profitable business.
 
Now that you have identified your product / services, and you have set up business processes that would enable you deliver on your promises to your clients, the next pillar of business success you should be mindful of is - “Your Cash Flow”
 
We’ll talk about your cash flow in the next post – keep a date next week Monday.
 
Don’t forget: I’d really like to get to know you; my readers, it may be impossible to meet every body, on a one-on-one basis, but at least you can introduce your-self here below,
 
1.     Your real Name
2.     What you do
3.     How did you find businessforts
4.     Why do you read our emails or articles
5.     Has any of our products (ebooks, CDs, Seminars) helped you in the past? If yes, how?
6.     How can we be of service to you and your business goals this year?
 
There is a surprise down-loadable FREE gift worth $97 for everyone who submits genuine and well thought out answers to the above questions.
 
If you have not already done so in Part 1 of this articleSimply copy the questions, paste them in the comment box below and type in your answers
 
See you in Part 3.
 
Cheers!

7 Pillars of Business Success Part 1

No matter the kind of business you are in, all entrepreneurs are driven towards the SAME and ONE goal only – Results.
 
Whether you are a Book seller, Plantain seller, fashion blogger, Ice cream merchant, Importer, internet marketer, information marketer or farmer, we all work towards ONE goal – RESULTS.
 
This is what keeps you and I as business owners awake all through the night. Better Results. Better Sales. Profits.
 
Now, what is a successful business you might ask?
 
Following a few searches, I’d prefer to define a successful business as a system of consciously coordinated activities or efforts structured and managed to meet a need (or to pursue collective goals) that consistently makes current patronizers (customers) happy, and gets new patronizers, while earning a profit.
 
In other words, you have a successful business (hence RESULTS) when you meet needs, make current customers happy, consistently get new customers and make a decent profit while at it. It does not matter if your business is Online, Offline, or a combination of both the online and offline world.
 
Therefore, as an entrepreneur if your business is not actively and progressively meeting needs, keeping current customers happy and turning in a decent profit – on an increasing or multiplication level – then you are surely going to have a hard time sleeping at night.
 
In my few years as an entrepreneur, I have come to discover pillars (support-structure) that must be built into your “coordinated business activities” for you to experience success i.e. progressive results (profits); and I’ll share seven of them with you below:
 
Product Creation:
I have met people who want to do business and have no idea of what products they want to offer to customers. Listen, a business is a system of consciously coordinated activities structured to meet a need.
 
Business has enabled me meet all manner of business folks, I have met an importer who doesn’t know what products to import from China or Turkey, an internet marketer who does not know what product they want to sell on their website, a shop owner who does not know what goods to stock in the shop, attendees of our importation business seminar who have absolutely no idea of what products to import, attendees of our book publishing business who don’t know what books to write, even attendees of our travel consulting business seminars who still wonder what travel products they want to offer to customers.
 
As in, really?
 
The matter with these people is that they are thinking only from the point of money. If you ever find yourself asking the question of “what do I sell or what is moving in the market”, then stop yourself in your tracks and turn the question around – instead ask – “what do my customers want”?
 
(Notice I said what they want. what they want is more important to your business success than what they need; because, if your customers need it but don’t want it, they won’t pay for it. So give them what they want, so long as delivering what they want does not make you a menace to the society. E.g. some people want cocaine but just because they want it does not make it legal for you to open shop to supply at least as at the time of this write upget the drift?)
 
“what is their problem and how can I solve it”? “What is giving them sleepless nights and what can I offer them as working solutions?
 
Asking those “customer-centric-questions” will help you decide on the kind of products or services to offer your clients.
 
As you do know, successful entrepreneurs keep offering new products, so as you keep working to expand your business by offering new products, ask those “customer-centric-questions” and get them answered before you launch your next big product.
 
Trust me, it works, that’s one way to prevent your product from failing in the market, it’ll save you heart aches and set back. Even if it doesn’t save you, it’ll minimize your aches, ‘cos a successful business is dependent on a lot of pillars (support-structures). And this leads me to the next pillar:
 
 
The Process: I’m writing this article at 11:43pm almost mid-night, so I’ll stop here and continue in the next post. Keep a date.
 
PS: I’d really like to get to know you; my readers, it may be impossible to meet every body, on a one-on-one basis, but at least you can introduce your-self here below,
 
1.     Your Name
2.     What you do
3.     How did you find businessforts
4.     Why do you read our emails or articles
5.     Has any of our products (ebooks, CDs, Seminars) helped you in the past? If yes, how?
6.     How can we be of service to you and your business goals in 2015?
 
There is a surprise down-loadable FREE gift worth $97 for everyone who submits genuine and well thought out answers to the above questions.
 
Simply copy the questions, paste them in the comment box below and type in your answers
 
 
Cheers!

Information Marketing Business, A Foundation for Your Financial Security

In todays’ post, I’d like to talk to you about real security in todays’ insecure world. But You’ll have to bear with me as I beat-around-the-bush in getting to the point. But I promise, reading this piece will be worth your while. Before I am done in this article, I am going to reveal a PROVEN and SECURE FIANACIAL (BUSINESS) SECRET known and USED by a ONLY few living Nigerians.
 
Everyday, something is always coming to an end, the end of summer, the end of winter, the end of the year or like today, the end of the month. And there as “usual” events associated with “the end”.
 
For example, as it’s the end of the month today, some where around the world and here in particular, the following is happening:
 
** An employee bemoaning his or her financial plight – having spent all the salary before getting the pay cheque.
 
Soon as the pay check hits his account, debtors are at his door step demanding payment for the shoe, clothes, recharge cards, pure water, etc he took “on credit” “last month”
 
** And then there is the entrepreneur wondering, what next, how do I expand this business, and how do I pay staff salaries and keep my staff?
 
** And there is the house wife who is plain bored with life and wondering – is this all there is to life??
 
** And also there is the young boy and girl, the student, the youth corper, so afraid and uncertain of what the future holds for their financial destiny. (I was once here, and I can tell you straight-away, it's not nice to have those thoughts and feeling of financial insecurity)
 
Most people, even most Continue reading »