Wednesday, 7 June 2017

Understanding the buyers behaviour

Hello readers, today I will be writing about buyers behaviour when it comes to purchasing products (goods and services). I hope your week has been good. A buyer is an individual that makes a purchase. That purchase can be influenced by his/her emotions or his/her rational mind.

For your marketing strategy to be successful you have to truly understand the buying behaviour of your customers. Some customers buy goods based on trust and loyalty which falls into the emotional reasons. Thus, you have to build trust between your customers and yourself so they can return back to you. Trust is built when you offer good quality for reasonable prices.

Some products are bought regularly while some products are purchased seasonally. If your products fall into the seasonal category, you should only purchase them to be resold during that season. At times buyers purchase products on behalf of another individual. In that situation, you have to capture the mind of both the buyer and the actual person that will use the product.

You also have to know where your customers buy your products from. For example, do they like to buy it online or from shops. Based on your observations, make your product more available where they will purchase it the most. You must also know where they get the information that influences their buying decisions from so you can make information about your products available there.

Thats is all for today, keep checking my blog. Cheers!


Friday, 26 May 2017

Managing Employees

Hello readers, today I will be writing about managing employees. It is common knowledge that employees of an organisation are not owned by the organisation they work for. Thus, employees should always be treated as humans and not assets.

An employee will be motivated to deliver high quality results if the employee enjoys his/her working environment. In other words, employees deliver good results when they work with employees that act nicely, when the working environment is conducive and when managers implement decisions that does not lead to dissatisfaction. 

There is always a relationship that exists between an organisation and its employees that requires each party to satisfy each other's needs. It is usually perceived as a psychological  contract. Thus, both the employees and the organisation will be doing the giving and the receiving. The initial impression that a  employee perceives about the relationship between the organisation and employees goes a long way in influencing the level of performance the employee will be delivering.

Employers should provide employees with a reasonable sense of security, treat employees fairly based on performance and contribution and also treat them with respect. Employers must promote work life balance, this will enhance the general well being of employees, thus, leading to a healthy business environment.

That is all for today, keep checking my blog. Cheers!

Tuesday, 23 May 2017

The Partnership Business

Hello readers, today I will be writing about a partnership business. A partnership business is a form of business that is owned by two or more individuals, these individuals are called partners. Profit are shared amongst these partners in a way that it had been agreed upon. Profit-sharing should be agreed upon before starting the business.

It could be shared in a way that capital was contributed by each party or in a way each partner contributes in the management of the business. Capital can be raised from their personal savings or from family or from friends. There are various types of partners, however, the major ones will be discussed below

Active Partner
This is the individual who takes on the major role of managing the daily activities of the business. He/ she is responsible for the actions of the business.

Sleeping Partner
This individual only contributes capital to the business and does not participate in managing the activities of the firm. However, he/she partakes in sharing the profit and losses of the business. His/her relationship with the firm is not known to the general public.

Nominal Partner
This is an individual whose name is used in the business after permission has been taken from him or her, in other words the individual lends his/her name to the business. He/she does not contribute capital or partake in sharing the profit or losses of the business. He/she does not participate in managing the business.

That is all for today, keep checking out my blog. Cheers!

Thursday, 18 May 2017

How can your strategy be successful

Hello readers, today I will be telling you about ways to make your strategy a successful one. The scope is your strategy must be fit, in other words your strategy must be consistent with the environment your business operates in.

When I say environment, I am talking about both external and internal environments. Thus, you must understand the political, economic, socio-cultural, technological and legal environments your business operates in. The environmental protection that affects your organisation must also influence you when formulating your strategy. Therefore, PESTEL analysis can be used to understand the external environment of your business.

The internal environment also needs to be understood, as your strategy must also be in alignment with the internal environment. Understanding your internal environment will help you know the resources your business has, the capabilities of your business as well as the structure and system.

The SWOT analysis can be used to help you understand your internal environment as it analyses the strengths and weaknesses of your organisation as well as the opportunities and threats of the business. In all, if you want your organisational strategies to be effective and successful, your strategies must be in alignment with the external and internal environments of your organisation.

That is all for today. Keep checking out my blog. Cheers!

Monday, 15 May 2017

Becoming an effective leader

Hello readers, I hope you are all good. It has been a while since I have written an article. I am sorry about that. But I am glad some readers used the opportunity to read my previous articles. I will now be writing articles on twice a week. Today I will writing about becoming an effective leader.

Everyone can lead effectively, you can always learn to lead. To become an effective leader, you have to study one to understand why they are effective at what they do. The key qualities of an effective leader include having a dream, having the ability to motivate others, exuding integrity, having the ability to deal with challenges and making decisions. To be a successful leader you must set realistic high goals, be a positve thinker and must be willing to learn from others.

A leader must be willing to add value, people skills will have to be decoded in order to become a great leader. To be able to motivate people positively you need to have a clear sense of direction. Your followers will become demotivated if you lack clarity. By this, I mean you need to learn to have clear ways of achieving your goals this will lead to making effective decisions that you will stick with. Changing decisions continually will make your team members confused. Thus, demotivating them, you have to be able to give your team members hope. You should also let them know the benefits of achieving the goal.

People that achieve success always have long term plans. As a leader, you need at least a 3 to 5 year plan, you must always know where you want to go to. If you do not know what you want to achieve, you will definately not achieve it. A leader must be able to express his ideas and  plans to his/her team members clearly. The goals and benefits must be clearly defined. An idea or plan that is not described properly will hardly succeed.

A leader must have this mindset "if one person can achieve it, then anyone can achieve it." As a leader you are not going to achieve all your goals at one try. All effective leaders are flexible, thus if one method is not working try another method. There is this saying, if you try achieving a goal using one method and you do not achieve the goal, you should use another method to try to achieve the goal, as using the same method which failed before will likely fail again. A good leader must also delegate duties appropraitely.

Thats is all for today. Keep checking out my blog. Cheers!

Friday, 24 February 2017

Don't give up on your goals

Hello readers, it is friday evening. You can now relax after working during the week. For those who work during the weekend, try to find time to relax. Today I am going to tell you about not giving up on your goals.

Some achieve their goals while some do not achieve theirs. Everything happens according to the will of Allah. You have to work hard when He knows you deserve it, He blesses you with it. As such, never give up on your goal and keep praying to Allah (5 times daily).

You will encounter challenges when you are trying to achieve your goals, but do not let them hinder you. You have to keep pursuing your goals. When you stop chasing your goals you will not achieve them.

Some make new year resolutions, they keep to it through out January but as from February they give up on it. You should not act that way. Keep working hard and hopefully Allah will bless you with it. You have to pray 5 times daily to Him as well.

Thank you for reading this article. Keep checking out my blog regularly. Cheers!

Tuesday, 21 February 2017

Why integrity is important in business

Hello readers, today I will be writing about integrity. Integrity means doing the right thing all the time. When a company is said to have high integrity, it means that the company has got high moral principles. Individuals are the ones that run companies, as such this individuals has to be full of integrity. Reasons why integrity is important will be discussed below.

Integrity helps build trust, if a company has got integrity all relationships that exist with the company will be based on trust, as such, employees will be motivated to work for the company. It also means that customers will be loyal to the company. When there is trust employers can be rest assured that their  employees will do their work adequately. The trust will make employees be more independent which will motivate them to give in their best. Thus integrity get employers the loyalty of their employees and customers.

Integrity helps build a good reputation which in turn attract more customers or individuals that will do business with them. Investors, customers  and employees are drawn to companies with a good reputation. A good reputation improves the goodwill of the company.

Integrity helps a company become successful and remain successful. A company built on lies can only be successful for a short period. However, an honest company will become successful and will remain successful.

That is all for today, thank you for reading this article. Keep checking out this blog regularly and like this page on facebook. Cheers!


Wednesday, 15 February 2017

Writing down your goals

Hello readers, today I will be telling you about writing down your goals. Have you written down your goals,you? yes you I am talking to you. Have you written it? Most individuals do not write down their goals. 

You should write down your goals and break them into smaller goals. It will help you accomplish your goals. Your goals must be SMART, that is specific, measurable, achievable, realistic and timely. The benefit of writing down your goals will be discussed below

When you write down your goals and you break them into smaller goals and then you break them into daily activities, it will motivate you to keep striving until you achieve your goals.

Writing your goals will prevent you from getting distracted as you know where you are going, as such when opportunities come up while you are trying to achieve your goals. You will know which one to turn down and the ones that you accept.

It also provides you with a lot of income when compared to that of your peers. According to researchers, individuals that write down their goals earn 10 times more than those that do not write down their goals

Thank you for reading this article, keep checking out my blog regularly. Like this blog on facebook. Cheers

Monday, 13 February 2017

When diversification should be considered

Hello readers, hope you are doing good. I guess you all missed me. I am back now, sorry for not delivering articles for a while. So today I will be writing about diversification. This time around I will be advising you on when you should diversify your products. It sounds interesting, right? Here they are.

You should diversify your products when the products you sell is only useful during a particular period. Thus, your products only satisfy seasonal needs. It brings you seasonal income, as such, diversify your products so that you can start receiving some regular income.

You should also diversify your products if you want to expand your business, as diversification will make you enter a new market or increase the amount of product your present customers do buy.

You should also diversify your products, if you know that your present product will sell more when you do. Complementary products  will help your present product sell more.

If the income you receive from your present product is not enough, you can consider diversification as it will help you expand your market thus bringing you more income.

In all, your present product must be stable before you consider diversification. Thanks for reading this article. Keep checking out my blog regularly. Like my page on facebook. Cheers!

Monday, 23 January 2017

Different types of leader

Hello readers, hope you are all good and hope you enjoyed the weekend. Today, I will be writing about the different type of leaders. I hope you will gain a thing or two. A leader is an individual that inspires a group of people to achieve a particular goal. A leader could be autocratic, participative, transactional or transformational.

The Autocratic Leader
This is a type of leader that makes all the decisions. He/She does not delegate duties to other team members. He/She controls all their actions. This type of leadership could be effective when staff are lowly skilled and they require a lot of supervision in order to be able to achieve a task or the goals of the organisation. A business that requires minimal error could also apply the autocratic style of leadership.

The Participative Leader
This is a type of leader that takes the contribution of his/her team members into consideration but he/she makes the ultimate decision. In other words, this type of leader encourages the contribution of team members. When employees contributions are taken into consideration it motivates them to work better. It makes them to accept changes in the organisation easily. This type of leadership also poses an advantage when short term decisions need to be made.

The Transactional Leader
This type of leader motivates team members through reward and punishment. This type of leader is also called the managerial leader. If an employee should break any of the laid down rules and regulation, the employee will be punished. If an employee performs in such a way that pleases the leader, the employee will be rewarded. This leader only encourages ideas within the context of the culture of the business. A transactional leader is only majorly interested in making sure that the operations of the business goes on well, and do not really care about the company attaining the market leadership position.

The Transformational Leader
This is a leader that inspire team members to achieve a particular goal through positive motivation. This leader communicates effectively to employees in order to meet the business goals. This style of leadership encourages changes, thus an organisational culture can be changed. The leader also encourages great ideas that are not within the context of the culture of the organisation. The leader is not only concerned about achieving the goals of an organisation but also concerned about the development  of his/her team members. Decision making duties are also delegated to team members, which help them develop leadership skills.

Thank you for reading this article. Keep checking out my blog regularly.

Tuesday, 17 January 2017

Choosing a business to invest in

Hello readers, today I will be writing about the right business to invest in. Hope you gain a thing or two from it.

Allah must be pleased with any business you want to start meaning it must be good for yourself, it must be good for others and it must be good for the community. You should invest in what you are passionate about as your business is going to be a part of your life, thus it must make you happy.

Someone that is passionate about customer services can invest in the telecommunication industry and someone that is also passionate about information technology can also invest in the telecommunication industry. Thus, as long as you can find your passion in an industry then you can invest in the industry. The aspect you are passionate about is what that will make you competitive in the business market.

You must also invest in an industry you understand. It could be an industry you have gained working experience from or a degree that focuses on the industry. In other words, you should look for your passion in an industry you understand. If you do not understand the industry your passion can best be served in then acquire the knowledge that will help you understand the industry.

Another factor to consider is the barrier to entry, is the industry easy to enter? Do the major competitors try to kill the competition? If the barrier to entry is high you could get a major competitor to provide you with a service, that way you would not be flushed out of the system.

That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!






Wednesday, 11 January 2017

Words of successful business leaders

Hello readers, today I decided to give you quotes of successful business leaders. They could motivate you as well as guide you when it comes to businesses.

"A person who never made a mistake never tried anything new" Albert Einstein

"If your business is not on the internet, then your business will be out of business" Bill Gates

"Build a brand and don't destroy it" Dangote Aliko

"Treat every opportunity as an open door" Jack Ma

"Be thankful for what you have you will end up having more" Oprah Winfrey

"Don't let the first no (or five) stop you" Sara Blakely

"Most people never pick up the phone and call, most people never ask, that's what separates the people that do things from the people who just dream about them" Steve Jobs

"I decided to become a business man when I understood that it is possible" Vladimir Potanin

"Never invest in a business you cannot understand "Warren Buffet

That is all for today. Thank you for reading my blog. Keep checking out my blog regularly. Cheers!

Monday, 9 January 2017

For all present and potential entrepreneurs

Hello readers, 1st of January, 2017 as come and gone. I am still pretty much excited about the new year. Hope you all enjoyed the holiday. I took a break, hope you did not miss me much. Today, I will be writing about entrepreneurs.

An entrepreneur is an individual who starts a business, he or she assumes all the risks associated with the organisation with the hope of getting a reward. An entrepreneur is responsible for making decisions on what product (goods and services) that will be provided to the public for sale. The entrepreneur also provides the capital required for running the business. Entrepreneurs play an important role in a country as they help develop a country by creating products that can be exported to other countries. This will help build the gross domestic product (GDP) of a country.

Becoming a succesful entrepreneur requires dedication, entrepreneurs are responsible for the growth of the business they have established. The business is your vision, so you must be commited to it. It will help motivate your team members (employees). The way you treat your business is the way your employees will treat your business. 

Procrastination is bad for business, when you procrastinates it is most likely the goal you want to achieve will not be ascertained as a result of you not carrying out actions that will be required to achieve the stipulated business goal. When procrastination occurs you end up not taking the required actions or delaying the required actions needed to achieve your goal. A delay could prevent you from achieving your goal, although is better late than never, however being late might mean taking actions when it is no longer needed.

That is all for today. Thank you for reading this article. Keep checking out my blog regularly. Cheers!