All businesses are looking for ways to grow. Growth usually comes from selling more products or services. But as a small or medium enterprises in an emerging or developing economy, you often face unique challenges and need to find creative ways to get customers interested in your products or services. The formula for faster business
What is bootstrapping? In business, bootstrapping is the art of self-reliance. It means growing your business without relying on external funding, loans, or investors. Bootstrapping isn’t just a financial strategy. It is a mindset that champions creativity, resilience, flexibility and strategic focus. It combines a commitment to increased profits with a dedication to efficiency and
Market gaps are everywhere. The question is how to find profitable market gaps that are a good match for your skills and resources. A market gap can be defined as follows: How to find profitable market gaps The best way to find profitable market gaps is to expose yourself to new experiences, new ideas and
Businesses in emerging economies sometimes hesitate to reinvest profits Reinvesting profits is a crucial strategy for the growth and long-term success of any business, particularly small and medium businesses in emerging economies. Reinvesting profits allows businesses to expand their operations, reduce costs and build a strong financial foundation. Yet, despite the many benefits of reinvesting
Let’s say you are a business that offers professional services to other businesses and private clients. For example, marketing or business consulting. You charge $30 per hour. You do 38 hours of client work per week, meaning that you make $1140 per week and almost $5000 per month. In addition, you have your business administration
Boosting sales when you do business in an emerging economy can be challenging, but it is crucial for the growth and success of your business. As a business advisor and coach, I have helped businesses in emerging economies across Africa, South Asia and South America improve their sales strategies and increase their revenue. In my
As a business coach, one of the questions I get asked a lot is, How can I increase my sales? The businesses that ask me this are usually focused on finding ways to attract new customers. But in fact, it makes more sense to master strategies to get more sales from existing customers. Attracting new
The European market is of great interest to many businesses in Africa, Asia or Latin America. Over 400 million potential customers who have money to buy and who are interested in having many products and services to choose from. What’s not to like? However, I see many businesses taking an approach that does not get
Many businesses don’t know who their Most Profitable Customers (MPCs) are. That is a problem, because the Most Profitable Customers are the foundation of any successful business. They are also the best way to achieve faster business growth. Why? Your Most Profitable Customers bring in most of your profits About 80% of your sales comes
Quick answer: they combine an organic business growth strategy with a long term vision. Many of the small and medium businesses (SME) that I work with are family businesses. Topics that we work on include how to get more sales and increase profitability. For all of my clients, their key focus is how to keep
A good way to increase sales is to make your business more productive and streamline areas that are wasting time and money. Can your business afford software that can automate processes? If yes, consider automation of tasks like data entry, staff scheduling, inventory management system, etc. Start by looking for solutions that can replace manual
Many small and medium businesses have cash flow problems. One of the reasons why this happens is because there is not enough money flowing into the business. This could be because the business isn’t selling enough products or services to customers. It could also be because expenses have increased while income – sales – have
