#CLUB5050:ECONOMIC-DIARYGAME || Reasons why small retail business enterprises are not growing
Hello Steemians greetings to you and happy new week. Today I am here again to share my experience and some of the things reasons why small business enterprises are not growing faster. I believe this post will be of help to you and to the person around you.
A lot of small retail enterprises that are mostly located in a remote areas are mostly faced with one problem of the other that is making the business not to grow faster compared to the manufacturer/producers and the wholesalers who shifted the goods to the retailers. In most places that I have been to in Nigeria, including North, South, West and East, I came to discovered that a lot of small retails business enterprises and not progressing even with the amount of support like grants from federal and state government that their do get from governments and other non-governmental organization their are still the way their started which I came to discover the reasons that is behind their success.
Some of these reasons are;
A lot of small retail business enterprises doesn't have a clear marketing strategy which is supposed to be their number one goal to capture the minds of customer. Now as a business owner, once you have a good strategy of attracting customers, you will enjoy your business, because you wouldn't be looking for customers no matter the numbers of competitors that are on your way. Many small businesses never have a clear understanding on what their can offer to customers, their don't know that good interaction with customer for the first time is the only way that they can capture the mind of the customer making the customer to come back and make another purchase whenever his/her items got finished. Now as a smart business owner the key to overcome this is to make sure that new customer that come to your business premises for the first time should receives the same preferential treatment and consistent message that you give to your old customers.
Some small business owners are so arrongan to their customers,they don't have the ability to speak to make their customers understand how important their products are. Infact even the way their goods are been scattered around their shops/stores is not what will encourage those that have stayed in a city to start patronising them. Like for example looking at how the shops below are being scatter with the goods their sell.
Looking at the image above, to the owners of the shops their are promoting their business which I see as a waste of time and as a means of damaging their goods by putting them under sun and rain. Let's imagine that rain start falling and met the goods outside like that, it means that a lot of the goods will be damage. The way out to this is to rent or build a store or better still do something that will prevent and sun form falling on the goods. This is the reason why the same that are sold in both supermarket and a shops like the one in the image above always have different price.(supermarket own is more expensive).
Small business enterprises, can be so enraptured (delighted) from what their are earning daily. Their sell their goods months to months,yearly without having a solid plan on how their can expand their business. What small business enterprises always thinks is to sell and eat instantly. Although some have a goal of what their want to achieve, but never work towards it.
The only way out for small businesses to succeed is to make their goal realistic. As a small business business owner, you're to make sure that you have set a short term goal and a long term goals that are well specified. Let your thoughts never be "Let me just try" or "I want to make it by all means.
At a start owner of a small business always think that he/she can do the job alone without hiring at least a cashier or salesman infact their run their Businesses all by themselves without having mentors that can coach them. Having and understanding of other people's is one of the key for any businesses to succeed. As a small business owner what you should need the most is prospective Ana objective of your business and market as a whole and you cannot do this by yourself alone you need someone that can mentor you.
This is where I will called it a day for now. Thank you so much for your time here
Thank you for your consistency in publishing good posts in the Steem Entrepreneurs community @josepha
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Keep up your good work, best regards and good luck !