How To Start An Import/Export Business In Nigeria: Full Guide & eBook

1. Growing Import/export  business

 If your import and  export business  is up and running  successfully. It may be the time  to think  about taking the next step.

Maybe you want to reach  new markets, Offer  new products, or take  your business in a completely different direction, Whatever your goal is, you will need to make changes to get your business growth- ready and create opportunities for expansion.

2. Adjust everything towards preparation to growth

Make changes to your pricing systems,  accounting  procedures, sales strategy and every other business system you use. So  that they can be scaled up to the size you want your business to be. Imagine the number of clients, amount of revenue, or global reach that you want your business to reach one day and adjust your systems to accommodate these levels.

3. Save time, money and labour, by automating as much as possible 

Automation is precise and efficient, whereas manual labor costs money and wastes time.

Automation liberates a business owner from the limitations of manual labour and affords a better opportunity  to branch out.

4. Create repeatable sales processes

Having the best product means nothing if you can’t get it into the hand of new customers.

Having a repeatable sales process means having a system.

That you can apply over and over again to generate new business.

You will have to design this system over time and perfect it.

Then, you can implement it indefinitely to grow your business.

You will know you have this type of sales process when:

a.  You consistently find new sources of customer leads.

b. You can consistently forecast your revenue.

c. You earn more from a customer than it cost you to acquire that customer.

d. Your product deliveries are reliably accurate and timely.

5. Record   and keep business strategize

Make  a record of every measurable  statistic you can think of. It’s impossible to know which metrics will be most useful in decision-making down the road.

The more information you have, the easier it will be to analyze trends and forecast future growth.

6. Build a   solid foundation by hiring a smart and competent  team and giving them reasons to stay 

Your business is only  as  the people you hire

Don’t be afraid  to hire people  smarter than you, just make  sure     

you learn from them.

Create a workforce that keeps the business going without you.

You don’t want  everything to fall apart if you need to be away or 

you get sick.

Build a loyal workforce by consistently responding to your   employees needs.

This way, you can retain talented employees and save money that you would spend training new hires. 

Spend money to provide professional development 

Both  for  yourself and your employees 

This will improve your efficiency and keep  your employees’ skills current.

7. Improved your network and find ways to grow it

Attend events which puts you in contact with other business owners that you can build relationships with.

Building positive relationships with these businesses is a sure way of getting  your company name out  there.

If others know about you.

They can help spread the word

Telling others that you exist and passing referrals  on to you.

Just remember to reciprocate. 

Attend professional meetups, discussions at local universities, industry association events, and chamber of commerce  events to expand your network.

Consider making referrals to  other businesses that provide related but non- competing services and  having them return the favor. You may also consider paying a referral fee to businesses that send customers your way.

8. Allow your customers to guide you towards business growth by simply picking their brain and listening to them 

Often customers will inform you of what they look for in a business. 

Whether it’s the type of service or product they desire

Listen and learn and try to implement those ideas that support and enhance your business. 

9. Follow-up with clients, vendors, and employees and find out what works and what doesn’t 

Don’t be afraid to hear feedback as it affords valuable opportunities  to learn what needs improvement and what should be scrapped. 

Follow-up often avoids the pain and frustration of the unknown.

And ultimately leads to the growth of small business.

10. Delegate your day – to- day duties 

As you grow  your business, you will need to adjust your own responsibilities  to fill a more strategic role.

Your managerial  duties  should be delegated to another employee, contractor

Or virtual assistant  so that you can spend time representing your business and strategizing  its growth.

After all, both managing a business and growing a business  are full-time jobs. 

Just make sure whoever you delegate your duties to is up to the challenge.

You may want to hire outside the company  to find someone to take over your day-to- day  responsibilities.

Outsourcing work does not require hiring a full time employee

Instead, it can involve building a team that may include virtual members, part-time workers, full –time employees, and freelancer/contract  workers.

Handling over these responsibilities can be difficult for entrepreneurs.

But rest assured that delegation will help your business grow and succeed.

11. Watch your environment 

Current  market conditions can be a deciding factor in whether  or not your business will take off or remain stagnant .

Your advantages as a small business, versus large corporations.

Is that your business organization is small and nimble enough to quickly respond to changes in market  trends.

Watch for these trends  and jump on them if they work with your product offerings.

Try to forecast your customers’ future needs and accommodate them as quickly as possible.

Be prepared to make miscalculations and    fail, but be equally  prepared to get back up and move past these failures.

12. Build your business’s brand

Modern customers require more than a good product; they need to believe in your business’s brand.

A brand defines  your business’s ideals and goals. 

As your business grows, your brand will become a signal to customers that they are getting a good product from a reputable company.

Build a brand by looking at the following components:

A brand message. Make your customers associate your business’s ideal with your products

They need more than just a description of your product’s features.

A well- defined audience . you can’t please everyone.

Locate your market and sell to them

Connection with your market

Make your customers feel like they are part of your business. 

Replicate your brand message everywhere

All business materials, advertising, and employees should consistently reflect your brand message. 

13. Use technology where  you can 

With the current proliferation of business-focused software applications.

Chances  are you will be able to find the technology  to fix any problem you have.

Locate    difficulties or inefficiencies in your business models and then search for software solutions to fix them.

Technology can also be useful for automating processes.

14. Stay passionate in your business endeavours 

Remind yourself of your reasons behind starting your business. 

And never lose that drive. If you find you are losing the enthusiasm, find out why.

There was a reason initially, so stay focused, and remain positive.

Without passion, your business  will not grow. 

15. Diversify your product offerings 

Diversification  offers a number of advantages.

Including a large income stream and profit margins.

It can also cut down on seasonal shifts in sales.

Look at similar businesses and compare your product offerings to theirs

Is there anything  else      you should be offering?

Think about offering complementary  products or simply new versions of existing ones. 

16. Invest  in advertising

Even if you have a small budget, set  funds aside for advertising purposes. 

Use your money  wisely, and find advertising methods that have more “result for their buck.”

It’s important to make sure that your business is  out there  for everyone to see.

And eventually recognize it if you want business growth.

17. Enter new markets 

Your current customer base likes your products. So why wouldn’t other markets like it too?

Accessing new markets can include anything from offering your product to distributors

Instead of  directly to customers, other cities  or states, other demographics, or even other countries.

Do your research  and look for opportunities in these other markets.

When you’ve found one, consider partnering up with another company.

That already has a foothold  in that market (but isn’t a competitor).

18. Expand online 

Consumers are doing  more online shopping today than they ever have.

To reach more new customers, both locally and around the world.

you should have some sort of online presence

This can be anything from social media accounts to a full-blown online store.

If  you ‘re really looking to expand.

Hire a developer to create a professional online website and web store to sell your products.

19 Open a new  location

The most common first step that entrepreneurs  take when growing a business is opening another location.

Examine your  current location

And scout out similar locations in your local  area or a similar area nearby.

Then,  simply copy the successes of your business model to the new location.

And try to remove any inefficiencies  or troubles that you currently experience.

You may also  choose to franchise your business.

Which would free you from having to manage new locations.

20. Repeat growth successes 

As you explore growth strategies and try them out

Take a look at which strategies have succeeded and which  have failed.

Look at markets where you were successful and those where you weren’t

Figure out what factors made the difference between these cases.

And implement those same factors in your future  expansion plans

If a new location or product introduction worked flawlessly.

Repeat the same process again with a new location or product as many times as you can.

You should also   look at successes other entrepreneurs  have  had.

Analyze what they did to be successful in a certain endeavour and apply   it to your own business model.







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