Business Activity || CONTEST - What are your plans to make profit this year | 10% payout to Business Activity|

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Hello to everyone in this great community called Business Activity hope we are all just wonderful today? I welcome you all to a beautiful week alongside a great contest in the community, I will like to use this opportunity to thank the team members of this community for their hard work and dedication to this community. and also I will like to applaud @cindycam for her brilliant works, thank you ma for all you do for this community. alright without digressing and beating around the bush, I will be dropping my entry to this contest tagged "What are your plans to make profits this year"? it is a great question for all entrepreneurs although some entrepreneurs are yet to figure out their plans to make profits. alright relax and sit tight while I drop my entry, wish you happy reading.

WHAT ARE MY PLANS TO MAKE PROFITS THIS YEAR?

This is Xclusive Concept, and as seen we sell various bags and boxes that are required by our customers. we do not just get goods and store them, not at all, we always reach out to our customers, asking them what kind of items they need. sometimes customers come to our shop to ask for certain goods and these goods may not be in our position at that particular time as such provided that we have similar goods, we then persuade the customer to get that similar item as though it is close to what the customer came looking for. well at the end of the day the customer gets persuaded and decided to get the item but if we want to make profits, we will go the extra mile to get the item and keep it pending when another come to look for such item.

We make extra profit by proper strategizing of the plan for it, and a few strategies we make use of in other to make profits this year are outlined below,

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• I HAVE PLANNED TO GET ITEMS THAT ARE NEEDED BY MY CUSTOMERS

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This is very essential, especially to Xclusive Concept, the kind of my business that deal with trend always, there are new designs of items that surface nearly regularly, so getting those items that are required by our customers will help us to generate profits at the end of the day. in as much as you get the needed items, profits are sure.

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• MY COST PRICE AND SELLING PRICE ARE IN CHECK THIS YEAR

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One does not just wake up one morning and go to the factory where the goods he sells are produced and then get some goods at a particular amount then returns to the store to sell them at that same amount, it is not done that way until you understand this fact, you will not make a profit, for example, if I happen to go to the store where I get my goods and then I purchased a bag, comparing the current price of SBD with the price of the bag I have just purchased and let us say I got the bag for 20 steem as my cost price, I will then return to my shop since the aim of the business is to make profits, I will equally add my profits to the item and then I may sell the bag for 22 steem which is now my selling price, with that I have made a profit of 2 steem from a bag I purchased for 20 steem. so knowing your cost and selling price is very essential if you want to make profits in your business, it will help a trader to gain rather than make a loss.

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• I ENSURE TO PROVIDE THE REQUIRED GOODS FOR MY CUSTOMERS

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This has mostly been my key to making profits, one thing I know how to do best is to go the extra mile to get what my customers want, and that has been my way to success lately. it is very important to always get the needed items that are required of you if you want to make profits, provided that a customer comes to your shop to get something and luckily you've got such item in place, definitely profits are sure. they will, in turn, recommend your store to others, provided this point is kept in check, by so doing you will acquire profits through your customers whenever they recommend your store to others.

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• I HAVE PLANNED TO KEEP MY GOODS IN CHECK

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This is quite vital, you should always analyze your goods if at all you want to make profits. analyze the quality of the goods, and check for damages before letting them out to your customers. ensure the state of the items you are about to sell off. most customers do not want to be cheated because they might not return to your store again and they can reduce your profit drastically, so I checkmate my goods at all times to fish out the damaged ones and to get qualitative goods that are suitable for my customers to get.

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• I HAVE PLANNED TO MAKE SURE I HAVE A FAVORABLE ITEM PRICES

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This is also vital, let it not be because a customer is desperate and obsessed about an item, and on seeing that you then raise the price of your goods to a higher rate just to use that opportunity to make a great profit, this is so wrong, as an entrepreneur you need to come out plain and not be greedy. I have seen cases like this, when a customer will show a sign of relief as though they have toil around the market for just a particular good which I happen to have, in that scenario other entrepreneurs may want to make the best out of such moment by increasing the price on the goods as though the customer has no choice rather than to purchase it. It is quite bad as an entrepreneur, I have been making my price favorable which is why I make profits every day. peradventure, I increase the price tag of my goods I know that it will be difficult for more customers to come and patronize my goods because it will be said that my items are costly. a single mistake can cost you a whole lot of profits. so as an entrepreneur you need to be straightforward about the prices of your goods.

MY PLAN ON EXPANDING MY BUSINESS THIS YEAR 2022

I have put this in mind for so long, I plan to expand my business in such a way that I will no longer struggle. expanding the business does not necessarily mean getting a bigger shop, but also making your business known in major areas, such as creating a page of your business on social media is also a way of expanding your business, making flyers, handbills, tracks of your business is also a way to expand your business and the above is the plan to expand my business. I do not need a bigger shop for now as though I am still schooling but it will be necessary when I am done with school so that I can focus more on the business. for now, we planned earlier to expand our business by creating pages on some social media platforms which I was able to accomplish and my business is expanding as people visit my page frequently to check and know more about the business and that is fetching me more profits because some individuals have come to me with the help of the social media pages where I showcase what we sell to different people on the platform.

Below are screenshots of my business page on some social media platforms, where I post Items concerning what I sell to various individuals out there.

Not quite long, I posted an article concerning my social media pages and as seen in the below screenshots my likes and friend on my business page has increased and it is expanding to various individuals too, so before this year ends I am planning to have more than a thousand followers.

FOR NOW I CHOSE TO SAVE INCOME

Saving income is what I do for now because the purpose of this business is to help me get my needs in school as though I have no one to fulfill my needs. so I use the money I save from this business to pay my tuition fee, feed myself and my mother, pay our house rent and get our basic amenities. the reason why I do not want to invest for now is that I am still schooling and I do not want to give attention to one and then the other suffers for lack of attention.

So I chose to save income in other to generate money to solve immediate problems, and also take good care of myself and my family until when I am done with school, by then I can now face the business and invest in different things as expected.

CONCLUSION

Having plans and strategies in other to make profits in your business is quite needed because by failing to plan one is automatically planning to fail. so having a proper plan to make profits in your business is vital in other to attain greater height in your business.

All thanks to the team for organizing the wonderful contest, as this will help novices in the system to learn and know how to plan and strategies to make profits in their various businesses.

I will like to invite @gidsbrown, @preshy101, and @faroukadam to participate too, thank you.

Note: All images were taken by me with my Samsung Galaxy S9 mobile camera, and all screenshots were gotten from my business social media pages, thank you.

MY BUSINESS DETAILS

Business name:	Xclusive Concept
Owner's name:	@solexybaba
Business address:	Zaria, Kaduna state, Nigeria.
About us:	Link to presentation. link