How To Run A Business Right In 2018 In Nigeria

How To Run A Business Right In 2018 In Nigeria

Change is the only factor that is constant. The true definition of a genius is knowing when to remain firm and when to make necessary changes. To run a business right in 2018 requires that you understand the concept of change in its totality.

The secret to success in a business venture is understanding how to start a business or steps to start a small business. The foundation of any organization, business or administrative, is very important.

So, if you are looking for how a small business from scratch or how to start a small business at home or how to start a business online, you will need to know how to run a business in 2018.

This article’s intention is not in any way to downgrade the importance of the ways of doing business in the past, it is not related at all.

Related: How to start a business while working full time in Nigeria

What we want to do, however, is to show you certain things you can add to what you already know given the transformation and innovations in technology, transportation, and communication.

This we will achieve by showing you how to run a business in 2018.

Tips On How To Run A Business Right In 2018

run a business right in 2018

  1. Communication with customers should be quick and truthful

When you want to start your own business, you must understand that you don’t have all day to spend attending to one customer. One customer doesn’t guarantee the success of your business.

Besides, customers who are paying for your services or products will want swift responses or delivery. You see, it is beneficial to both parties for you to be swift.

More so, you will need to be honest with your customers if you will retain them. Honesty is an important feature if you will run a business right in 2018.

Lies and dishonesty have a way of biting back. Avoid it as much as you can.

  1. Keep Your Team Focused

Every great business ideas, successful business ideas, online business ideas, small business ideas and any business idea that will succeed will require the services of a dedicated team set up by the founder.

Resultantly, you will need to keep your team focused given the very many distractions open to them in this dispensation.

The ideals you put into your team will determine the level of success your company will enjoy. Therefore, make it worthy of bringing profit or yielding results.

  1. The Advantages of Automation (Technology)

The human brain, even at full capacity, can be error-prone. It can also be very slow compared t what our modern technology has to offer. To run a business in 2018, you must take full advantage of what technology has to offer or you will be left behind by your competitors.

The automation software has brought about serious changes in the way of doing things. It is indeed an absolute game-changer. You cannot miss out.

One place the impact of automation is felt most is the financial/accounting sector of your company.

In this department, you will need things like e-invoicing software, project management, digital marketing and other accounting related software. You just have to give technology a place.

  1. Keep Your Employees Updated

Your employees are the livewire of your business. Therefore, keep them informed on the process and changes in the company.

There are two ways to handle employees; you can see them as robots and paid servants and you will treat them with that mentality or you can see them as part and parcel of your establishment and keep them in the loop through various phases of your company’s development.

We advise that the best way to get the best out of your employees is to share with them necessary information and see them handle the company as if it is theirs.

  1. Instill passion

There are different kinds of way to lead. You can decide to instill fear in the heart of those that follow you. That could work to a certain degree. It is not very effective in the long run but it could work in the short run.

The reason is quite simple. People are becoming more educated, more enlightened and more informed. Dictatorial kind of leadership does not bring the best of results in the business realm. Even if you pay their bills, you need to show them respect.

There is also another kind of leadership. It inspires and motivates people working for you. It instills passion and motivation in their hearts and they go out of their way to ensure the success of the company.

This is the way to follow if you want to run a business in 2018.

  1. Embrace change

Flexibility and openness to change are needed in doing business in our time. You cannot keep to the old model of doing things and expect things to better.

You are expected to be dynamic as a business can be volatile at times and will require that you adapt to certain changes.

 

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