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List Of Top 10 Best Tips On How To Succeed In Business In Nigeria

JEROME MICHAEL EBRUPHIYO Friday, December 10, 2021 How To

 

Introduction

This article will provide information on the list of top 10 best tips on how to succeed in business in Nigeria and also provide answers to questions regarding successful business in Nigeria.

Top 10 Best Tips on how to Succeed in Business in Nigeria

  • Embrace quality service/product as a mantra
  • Quality service means putting your best foot forward in whatever you do; from the polite and civil way you relate to customers even the most difficult one’s to the quality of, and punctual delivery of product/service.
  • Aim for and achieve mastery in your field
  • Get better at what you do until you achieve a high level of expertise, this puts you in a different playing field to your competitors and opens you up to the top-tier customer base and clientele most people can only dream of. A lot of people can claim to have been in business for 20 years or more but within that period very few can claim to have really gotten better at what they do, and kept up with the ever changing business climate.
  • Understand Finance
  • A business could be making good profit and yet not be a successful business, expenses should fit within a carefully crafted budget. Profit could also be delayed at times as part of long-term plans to create awareness of your services and build a wide customer base. Finally in the quest to earn money don’t accept every job; some jobs are not worth the stress and money involved.
  • Work hard and Smart
  • Smart work is no substitute for hard work though no matter how pop culture tries to phrase it; the reality is, smart work most times involves working harder than ever just in more creative and productive ways.
  • Have a great business mentor
  • The importance of a mentor can never be overstated, a great mentor must have achieved or at least be on the way to achieving a level in business you aspire to. Your mentor doesn’t have to be Dangote or Linda Ikeji although they make for very good role models. A great mentor should be easily accessible, and objective.
  • Hire Right
  • As your business grows to a certain level you are going to have to employ people to further the dream, this could be a make or break point for the business as the people you employ can either make life easier or worse for you.
  • Understand your market
  • A whole article could be written on this, but I will focus on the most important aspects. Every business has a target market, and you have to tailor your products and services to fit into that landscape, this involves taking into consideration factors like location of your business, level of demand for your product and causes of complaint amongst customers, understanding the diverse needs of customers, and having the foresight to predict changing trends.
  • Have a workable business plan
  • Your business plan should serve as more than just a fine print of what you aim to achieve, and definitely more than a plan to source for start-up-capital. Your business plan should contain do-able and realistic goals that guide you in your day to day actions and in making long term decisions. Though your plan should be strictly adhered to it shouldn’t be too rigid and should be smartly revised as trends and customer demands changes constantly.
  • Delegate
  • This means giving jobs to trusted and proven employees to handle but supervising and organizing the process. This has the added advantage apart from assessing your employees growth of freeing you from the mundane tasks and giving you time to assess the trends in market.
  • Network Constantly
In this country you hardly get great jobs/clients based on merit but rather based on connections the ‘who you know’ trend. Now, you can cry and complain about how it’s not fair but that will get you nowhere, and frankly it gets tiring after a while.

Traits that Can Set You Up for Success in Business in Nigeria

  • Supreme boldness/confidence
  • Self-Mastery/discipline
  • Persistence
  • Forward thinking
  • Productive attitude to unfavorable circumstances
  • Hard work
  • Mental strength
  • A clever, analytical and sometimes cunning mindset

What are the Best Business Tips?

  • Be Passionate
  • Start While You Are Still Employed
  • Don't Do it Alone
  • Get Clients or Customers Lined Up
  • Write a Business Plan
  • Do Your Research
  • Get Professional Help
  • Make Sure the Money Is Lined Up

How can I grow a small scale business in Nigeria?

  • Develop a great business idea
  • Write a business plan
  • Choose a location for the business
  • Raise a business startup capital
  • Register your business with Corporate Affair Commission

What is the most profitable business in Nigeria?

  • Oil and Gas business
  • Agriculture business
  • Food business
  • Blogging Business
  • Real Estate business
  • Furniture business
  • Hotel business
  • Transportation business

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