Earlier this year, I created and delivered a 3-part training on financial sustainability for tech hubs in West Africa. Since then, I’ve had time to reflect on what made this experience so impactful for them and for me. In my work with SMEs, one of the key questions I deal with is how to sustain the
Access to finance is one of the most persistent challenges faced by small and medium-sized enterprises (SMEs) in emerging economies. Even though they are the backbone of local economies, funding options for SMEs in emerging markets often remain limited. The World Bank estimates that the global finance gap for SMEs in developing countries exceeds $5 trillion.
It is essential to decide how to use profits from your business strategically.The decisions you make today will influence your company’s growth, stability and future success. The key part of these decisions shold be ensuring your business thrives in both the short and long term. And yes, you can also reward yourself. :-) Here are five
An organic business growth strategy refers to the sustainable, internal expansion of a business through increased sales and profitability without relying on external financing or acquisitions. For small and medium enterprises (SMEs), this form of growth is essential for building a resilient and self-sustaining business. Organic business growth strategies prioritise long-term sustainability, employee and customer satisfaction,
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
