Category : Grow Your Business

Grow Your Business

How to Pick No.1 Best Web Hosting Coy

Web Hosting provider

When it comes to web hosting, consumers are confused about who’s the best web host provider. Although, many reviews are online with the list of all the big and presumed best web hosts, but how true are these claims?

In the process of marketing web hosting packages, providers ignore the important things customers should be made aware of before buying a web host. Their primary concern had always been to sell more web host, but where does that leave the consumer?

Moreover, the customers themselves are carried away with cheap web hosting prices that they forget to read the fine details. The most popular web hosting package is the shared web host. That hosting plan could cost you around $3 to $9 per month. Yet, what’s not told us is how much of web resources are given to consumers for this huge value proposition, because it’s usually sold in the guise of unlimited resource.

Let’s even imagine it this way that it’s called shared web host for a good reason. It’s to be shared among other blogging sites. So, how many blogs are sharing that same shared server resources? How much web space and resource is allowed for each blog on the shared server? What kind of website should you even hosted on a shared web hosting plan? Honestly, these question should get honest answer but they don’t. Let’s just keep learning.

However, there are different types of web servers to host your blog, and at different prices, offering different features and options. The list is endless. Yet, with all these options out there, little is done to clarify what packages fits your web hosting needs better. As a newbie, you are abound to make mistakes without a guide.

What Bloggers Should Know About Web Hosting

Let me even assume you know little or nothing about web hosting. That means, you don’t know how your blog exist on the internet. For most startups once you mention blogs that’s all they know about online business. They don’t know how a blog is planned, designed and hosted on the internet.

If you don’t know how your website exists online you will be at the mercy of those who know. That could be costing you more money. As a startup blogger you may just need little web hosting space to begin with. A shared hosting plan is ideal for a startup blogger, while you are yet building your web traffic. Note that your actions and that of the others sharing the same server would affect everyone else on the shared server. However, once your web traffic hits in the thousands daily, you should start planning to migrate to a bigger web hosting space, with more control over your own space.

So, think of shared server as a web host space for beginners, when you are still growing your traffic. Even if you don’t know when exactly to move, your web host provider will inform you when your blog is taking too much resources in the shared space. That’s when you should migrate to VPS (Virtual Private Server). This VPS hosting plan gives you a much better control on the resource you use on the server, even though it’s also a kind of shared hosting.

A VPS is a glorified dedicated server. It gives you the benefit of a dedicated server but on a kind of shared plan. Assuming there are 10 blogs on a VPS, each one would get a defined storage space, bandwidth and other resources like everyone else. You are limited to the space allotted to you. Your actions or inactions doesn’t affect anyone else on the server. That means a dedicated server is like you owing the entire server where your blog is hosted. This should be your final destination for hosting your blog.

What Is Bad Web Host?

Is there such a thing as a bad web host? Yes there is. However, they don’t always appear bad from the outside. Most bad web hosting experience people had were caused by two main factors, like poor marketing and poor customer support. Most of the big web host providers are guilty of these factors of bad web host.

So, if you are concerned about bad web host provider, you don’t solve it just by picking a well known brand. In fact, the bigger the brand the more the are overwhelmed by customer complains. That’s where most customers begin to be disappointed. Big brands main focus is their bottom line and not the people.

Also, there’s marketing problems as well. Most big brands do it. They sell you a service without explaining all you are getting at the end. They over sell and under deliver on their promises. It’s usually difficult to avoid falling into bad web host provider. That’s why it’s safe to read through honest reviews about the product by other customers like yourself before you buy.

What’s Even Web Hosting?

Imagine if this is your first time of starting a business online and you are told to buy a web host. You maybe confused at, wondering what is a web host? If your web designer handles hosting for you, then you are probably paying more than you should or getting less than you should get in web speed and search engine ranking.

Let me help you even to understand this mystery of web hosting. A web hosting service allows individuals and businesses to post contents in websites or web pages onto the internet. It’s like a house. A web host is the house for your blog. So, without a web host your blog or website is homeless.

On the other hand, a web host provider is that business that provides the services needed for website or pages to be viewed online, by providing the technologies required to power it. That makes your web hosting provider your landlord, and you pay rent to your provider for giving you space on their web server to host your blog.

However, there’s no technicality required for you to have control of your web host. Think of it the same way you use your email account. Technology has simplified so many things. That’s the same way you control a web host. You create an account, and you get a username name with password. If you ever needed to do any technical thing, just hire an IT person on FIVERR, give him access to do the work on your server and change your password later to protect it.

Having control over your website is not something you should give away to someone else. If you have been doing that in the past, take it back now by buying your own web host. I’m going to show you how to do it in this post. You will never be a novice again about web host.

Things To Get Ready Before Web Hosting

Now that you have an idea of what web hosting is and how to buy one, the next thing will be to get what you are really going to be hosting online. Let me give it to you as though you didn’t know it already. I don’t want to assume that we all know it. The two things you should get ready for web hosting are:

  1. A domain name
  2. A website or blog

Now that you know what they the two things are. A domain name is the registered name of your website. That’s the website URL (Uniform Resource Locator). It’s the name everybody will know you with and use to locate your website on the internet. An example of a URL is (FACEBOOK.COM).

That’s just one example to describe what a domain name is and looks like. It also depends on the domain prefix you want, you can buy it from any of the domain name registrars, or you can buy from your web host.

Let me also explain what website is to you as well. It’s like when you put on clothes, if you have no website your domain name will be naked. Anyone who goes to your website or blog won’t see the content. Just in the same way that when you take off your clothes you become naked. So, your website is the content that people see when they visit your domain name.

As a newbie, you may have not be able to design your website yourself. Just don’t let it bother you. There are several options to get a professional design your website for you at a cheap offer.

Things You Should Look For In A Web Host

If you are new to web hosting, you probably would like to know things you should be looking out for when picking a web host. I have a list, it’s probably the same list you see on the web, but I also added some extra tips that you should follow over and above the list.

Here are what you should be looking for:

  • Do they have fast speed server?
  • Do they have uptime at least 99%?
  • Do they offer a variety of plans?
  • Do they provide support service 24/7?
  • Do they offer the right price?
  • Do they provide ample resources for starters?
  • Do they support free migration If you are already hosting your site elsewhere?
  • Do they support domain name management?
  • Do they offer satisfactory security options?

But while you may ask all these questions and probably get answers from web host providers, here are what I would like you to verify about them.

  • What kind of support do they offer?
  • How fast is their server speed?
  • What shared resource capacity do you get in a shared hosting?
  • What’s their renewal rate?
  • What renewal period do they offer?

You should be the one driving the conversation around what you need. Like, what are the features you need the most? It may surprise you that some web host don’t upgrade their PHP version. An old PHP version increases your website vulnerability. That’s the reason you must pick your host wisely.

How Much Should You Pay For Web Hosting?

One other thing blog owners consider when hosting their site is how much they have to pay. Although no one can actually say this or that amount is the right cost for web hosting, because each web hosting provider have different costs associated with their business. Their final cost consideration is also based on their peculiar situation.

However, what should be more important to you is how much you are willing to pay for the best kind of web hosting plan that you want. Once you define what your web hosting needs are, then look for a hosting plan that meets your needs at a price you can pay.

You should ensure that you agree with the actually cost of renewal before buying the web host. Most providers sell their first year at a hugely discounted rate, but the renewal fee will be their actual hosting fee. Don’t get deceived by this offer because they usually don’t make them so glaring for customers to notice.

What’s Interserver Web Hosting?

Now let me start by introducing you to Interserver Web Hosting. Interserver is not the only web hosting provider out there. In fact, they are the most popular but they offer some superior services you need to take advantage of, and because they put their customers first.

The company has been hosting websites for the past 21 years. And as an innovative driven web hosting company it has evolved its web hosting services to include shared hosting, cloud hosting, quick and dedicated servers.

If you want to know who their customers are, they range from individual freelancers like you, to Fortune 500 companies, wether they are in the domestic or international market. You can make a shift today and try out Interserver for just $1 for 3 months shared hosting plan. I have used this plan myself.

Just before you buy, take a few moments to go to their COMPARISON PAGE.

Tips On Interserver Web Hosting Services

One of the confusing part of web hosting is picking the best hosting plan for your website. It’s not all Hosting plan that’s suitable for your kind of website. And there’s also the cost implication with the different hosting plans.

If you have cost consideration then you need to choose the plan that’s cost effective but suitable for your site. I have explained on this post about how you should make this choice as a startup blogger. Well, here are even more elaborate options from Interserver you can pick from.

  • Standard Web Hosting
  • Pro Hosting (reseller)
  • ASP.Net Hosting
  • Email Hosting
  • cPanel Hosting
  • Non Profit Hosting
  • Student Web Hosting
  • Website Builder
  • E-Commerce
  • Blog Hosting
  • VPS And Clouds
  • Dedicated Servers

The above listed web hosting plans comes in different sizes and prices. Follow the LINK HERE to get to the site tutorial as a beginner to learn all you need to know about web hosting.

My advise is don’t even rush things. Take your time to go though the website and read about what other customers like you are saying about Interserver Web Hosting. I do that often before I download an app, even if it’s a free app. So, I encourage you to do the same. CLICK THIS LINK and I will be sending you right to the support page.

Steps To Signup With Interserver

I don’t want you to jump at this offer simply because I said so. I want you to verify these things for yourself. There are two key reasons anyone should choose Interserver and that would be their best offerings. Those two reasons are:

  1. Fair price and flexible renewal plan
  2. Fast speed server

At $5 per month, Interserver is offering one the lowest shared web hosting rates in the world. I don’t mean discounted rate. That’s their actual rate for renewal. In fact, you can pay just $1 for the first 3 months. That’s how cheap their own discount can be. Yet, I don’t want you to rate them by their discount but the renewal rate.

As for the server speed, you don’t need a lecture on that. Speed matters a lot in online business. Everything on the internet world is about speed. That’s what Interserver is offering ahead of others. The speed of their server is 395ms, which is between a speed range of 200ms to 1000ms. It’s faster than most big web hosting brands.

Now, if you are ready to buy a web host from Interserver, then let me show you step by step how to do that.

  • Step #1: Go to Interserver Website (CLICK HERE)
  • Step #2: And click on the LOGIN icon
  • Step #3: Look for the SIGNUP LINK below the login page
  • Step #4: CLICK on the link to open the SIGNUP page
  • Step #5: Enter your email and desired password in the boxes provided
  • Step #6: Accept the terms and conditions and click CREATE ACCOUNT
  • Step #7: A CODE is sent to your email
  • Step #8: Retrieve the CODE and INSERT it in the new CODE BOX
  • Step #9: CLICK on CREATE NEW ACCOUNT

That takes you right into your Interserver Web Hosting account. It takes less than 3 minutes to create a web hosting account on Interserver website.

How To Make Money With Interserver

Even if you don’t need web host for now, I have something that should get you excited about Interserver. Everything is not just about buying from Interserver, you can make money from them too, by signing up with them as an affiliate. Yes, there’s money to be made from Interserver, and I will show you just how that money could be yours.

It’s affiliate marketing. I’m sure you know about it, or better I should explain a few things about it to help get started if you don’t already know. Affiliate marketing according to Wikipedia is a type of marketing that’s based on your performance, which is rewarded by the affiliate business for each visitor or customer you brought to them by your affiliate or marketing efforts.

So, if you brought a customer to Interserver now, they will reward you by paying you $100 for that effort. Yes, that’s how much they pay for each customer you brought to them. You can take this up as a business, promoting it on your blog or social media pages and you could be earning as much as $1,000 monthly.

To start immediately just follow the guide above on how to create a web hosting account on Interserver. This one is simple. All you have to do is signup on Interserver website and you are automatically an affiliate. Your link is found right below the home page when you login. Copy that link and start promoting it to your audience.

Conclusion

The truth about web hosting is that you must need it if you want to build business online. Even though you may have started from social media, you can still end up with a website. So, I’m not offering you a product you will never need. Just like we all need a home, you will surely need this one soon.

The next thing that’s most important in web hosting is the actual price you pay for continuous hosting with a provider. Most providers lure you into hosting with them with a discounted offer for the first year. Although that’s good but most people never get to really know the actually cost of their hosting plan until the next year when it’s time for renewal.

Finally, if you ask me what’s the most importing thing to look out for in a web host provider, I would say server speed. That’s what matters at the end for everyone. That’s one thing you may not be able to control either. You can pay for and get more space, bandwidth, and server security, but you cannot just pay and ask for more speed. Yet, that is what would affect your site ranking the most on search engines.

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7 Tips To Build A Strong Business Brand {For Newbies}

How strong is your business brand? Could it be the reason you are not getting enough patronage and web traffic from search engines lately? Amazingly, the world of business is changing, with consumers losing confidence in the proliferation of products and services.

There are too many knockoff and substandard products competing for consumers attention and money in the marketplace. It has raised new kind of consumer awareness for brands.

Marketing as we know it is changing right before our eyes. What used to be easy some years ago has now become difficult to promote. The marketplace is awash with all sort of knockoffs and lookalike products that’s confusing to pick what works from what doesn’t last. Even the marketing platforms are afraid that fakes are diluting their brands and costing them consumer confidence they have earned over the years.

Consumers want to buy from only well known business brands for the things they love. The love for brands is the new orgy. If what you do or sell doesn’t have a brand you are losing your long term value. It won’t be long before your business fizzles out.

Why Build A Brand?

You may even be reading this now and still want to ask why should my business build a brand? Well, I have to explain it for you so you understand what’s at play here. I know the fear of building a business brand is usually in the long time it takes. But if that guarantees success, why not take the time and use it well. After considering my reasons you will understand why build brands.

  • The fastest way to win consumers trust and patronage is with your business brand.
  • A commitment to quality products or services is better understood when it’s a brand.
  • An advantage for search engines to rank your site top in pagerank is based on your brand equity.
  • A promise to uphold consumers confidence in your product or service is better expressed through brand message.

You can see just how much good a brand can do your business than just a good product or service offering. There’s so much information out there and people want to be able to sieve through all that and not to make mistakes.

And now that shopping has moved to e-stores and dropshippers, the level of fakes on sale has by far outnumbered the original products. Consumers are not fools. They are aware already. And many of them are making the choice of brands. Even Google has updated its algorithm to favour brands over others.

In the nearest future, your business will lose so much if not all of its patronage if you don’t start building your brand now.

 

READ ALSO: 10 Simple Steps To Brand Your Business

 

Understanding Business Branding

If there’s anything that should be important to you now as an entrepreneur, that should be understanding how to build your business brand. According to DisruptiveAdvertising, branding is a way of creating an experience for the customer. And finding the easiest way to share that experience is what defines your business brand.

However, this experience usually leads to identifying your business. That could also explain branding as a way of identifying your business. That’s how customers recognize your business and experience what it has to offer. When more and more consumers can now identify your business it means you have a strong brand.

So, a strong brand is more than just a logo, but everything that defines your service, advertising, and customers experience. The first time you try out branding your business, it may lead to asking whole lots of questions to understanding what to brand about your business and how you should brand it.

Questions like:

  1. What should you do for your business to be identified?
  2. Who should identify your business?
  3. How do you reach them?
  4. How long should it take?
  5. What’s in it for you?

Now, let me take through the 7 tips I have outline would help you understand how to build a strong business brand. Tips number 2 is like the glue to hold everything else together for you.

Tip #1: The Time To Start Is Now

One thing you must understand about business brand is that it takes a while to build. A strong brand is never an overnight success. You can achieve strong sales overnight but surely not strong brand. You need time and that means you need to start early.

And that goes with everything in life. Every birth in life needs time to grow to adulthood. It’s not limited to humans alone. It has to do with everything in nature. I learnt it when starting MyBlog. I knew I would have to put in years if I want it to grow. It may surprise you that it can take decades to build a strong business brand.

But if that’s what it takes, why not. All you have to do is analyze what you want to do, how much of your life you can invest into it and when you can start seeing growth. Always put your age into the consideration. If you starting at 30 years, just accept that it might take more than 10 years of your consistent life investment to get your brand to grow.

Tip #2: Do It Your Own Way

Once you know how long it can take you, then you need to realize that those short cuts being advertised online isn’t going to work. What you have working for you now is to do it your own way.

Find your own uniqueness that customers love and build your brand on that premise. It’s your unique offering that will stand you out. That’s what people love. And people are constantly looking for unique brands to follow. That’s one side of human behavior that’s puzzling. You may even think they prefer the competing brand and you start copying them. But what people really love is your unique way of doing things.

And this uniqueness should be expressed in your brand features. Below are 5 ways to express your brand features:

  • Brand Purpose.
  • Brand Positioning.
  • Brand Promise.
  • Brand Personality.
  • Brand Identity.

And because you are the only that can be you perfectly, it will be very hard for a competitor to copy you successfully and win.

Tip #3: Start Building Followers

Every brand need followers. If there’s any reason it’s called a brand, it’s because it has a good number of followers. So, this should be you top priority when building a strong business brand.

Think of your brand as a celebrity. Every celebrity has fan base. The more followers you have the better your brand does out there. And this thing don’t happen overnight. It takes time and effort to grow followers.

Whatever source you plan to use to build your followers is important. Think of where your target audience spend most of their useful time, not their useless time. Because some people spend time on pornographic sites when they want to be silly. Target only sources they spend time when they are equally busy at what they do for a living. That’s the right platforms to use.

Make your followers love your brand. That’s your job priority. And how you do that is important. You need to explore their value system in principle. If they are not getting value from your brand they are not going to show you love, period!

Tip #4: Don’t Allow Distraction

Moreover, think about business brand like raising a child. You never abandoned that child at any time. While it can be okay to be doing other things while still raising the child, but the child’s welfare should always come first.

Your brand is like that child. It must occupy your topmost priority. You shouldn’t allow distraction of any kind. Even if it takes time, don’t lose focus, stay with it, because it takes time to grow a brand.

Interestingly, one of the biggest distraction for entrepreneurs are themselves. I have hardly met an entrepreneur that’s not involved in multiple businesses at any time. This can be a big source of distraction from building a strong business brand. The more you try to multitask the more you lose focus of what can help your brand gain momentum.

Tip #5: Constantly Evaluate Your Brand

While you patiently grow your business brand, don’t lose fact about your brand focus. Always evaluate the impact your brand is making and can make. Sometimes a brand maybe bigger than its initial mission and purpose. It’s by assessing your brand impact that you can identify areas it’s influence is growing and extend its reach properly.

Your brand is what the market says it is. Sometimes your effort to position your brand in a certain way may not work. The market sometimes define your brand direction. It has happened to many business brands, including Facebook. They usually set out to reach a definite market but ended up in an entirely different market than they initially proposed.

Consumer feedbacks can give you a lot of information about your brand impact. Asking your customers to give you their honest feedback can help you evaluate and improve on your business brand.

Tip #6: Shift The Focus If Necessary

What if your evaluation reveals a bigger and better potential market for your brand? Nothing is stopping you from shifting your brand focus to reach the new market. You are at liberty to focus your brand to what makes it more relevant to consumers.

Note that your brand advantage is solely built on the value of the solution it provides. Shifting your brand focus to something more greater than what it was initially designed to solve won’t be a problem but a bigger proposition. And that could drive the attention of more super investors.

But be careful not to derail from the core principles of your brand. Rather, let the shifting be solely to address a higher purpose.

Tip #7: Avoid Quick Success Syndrome

Success is at the heart of every brand building goals. But let your goals be long term driven. Avoid quick success syndrome where you expect the gains to follow too quickly. Of course there should be gains of building your business brand, after you have put in a lot of efforts. But where the gains are not coming as fast doesn’t mean your aren’t doing enough.

Most times what pushes great brand off the ladder is the desire for quick success. It can lure brands into exploring the wrong opportunities. A good example is search engine optimization techniques. Some brand explore the black hat technique in order to get quick search traffic. But many ended up damaging their brand and erasing the short term success they achieved.

A better way to build your business brand is to understand what it can take to build the brand and how long you can put into it before it can manifest. Then, relax, sip some green tea and wait for it to arrive. If you are not willing and ready to put in the years required to build a strong business brand, then, brand building may not be for you.

Conclusion

Brands are magics of business success. When you have a brand you become invincible in the marketplace. You can sell anything, do anything and be anything. The market doesn’t dictate for you any more, you dictate for the market.

But the only thing standing between you and becoming the brand you want is time. Brand success takes time. There are no short cuts to building a strong brand. You need time to make a brand strong. It will take time for your brand to get proper recognition in the marketplace.

The excerptions are usually disruptive brands. Uber is one of them. When a brand disrupts a market, it rides on the trends of media puzzle to gain fast momentum that other brands normally attain with time.

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How to Expand Cooking Gas Business In 2021

Do you want to make billions from cooking gas business? The cooking gas business is worth over 370 billion naira and you can decide how much of the billions you can take from the business annually. Here is your tips to join the Billionaires of cooking gas plant business.

And just like we saw the making of billionaires in the petrol station business, we are about to witness the making of billionaires in cooking gas business. And it’s no mystery how it’s going to happen.

All you need to do is follow the guidelines in this free report and you will be in line to become the next billionaire of cooking gas business.

I’m not trying to persuade you but if you have followed every business trend, the first movers are the biggest gainers. Cooking gas business is booming now. If you join now you start a chance to be among the early gainers.

Take for example the early days of bitcoin, banking industry, diesel business, GSM phone business, importation business, car business, and so many other businesses that you witnessed that started in Nigeria and made the early starters richer.

Feasibility Report For Mini Cooking Gas Plant

This report will show you How to Build, Grow And Expand Your Cooking Gas Business. It’s the same strategy adopted by the billionaires of Petroleum business. And cooking gas business is huge and can be setup anywhere in Nigeria.

Part #1: Introduction To Business

If you want to be a billionaire in Nigeria, and doesn’t think it’s impossible to become a billionaire in Nigeria;I have found the business, the process and the strategy to become a billionaire in Nigeria without fail.

If you are looking for a business that have the potential to make you a billionaire, this one will do it in just five years. if you follow my advice. It’s not a get rick quick scheme and it’s not network marketing. But it’s a proven business model and product that has made billionaires in Nigeria.

And many of the billionaires started from nothing to become what they are today. Some of them it took multiple decades. But what I’m about to show you will take you just 5 years.

This is Billionaires Business

Starting a cooking gas plant is a Billionaires business. Among the four assets in life guaranteed to make you rich, oil which is a relation of gas is one of it. So, if you are in cooking gas business you are destined to be rich. You might as well start to think like a billionaire.

Let me give you the four assets that make people rich. They are called assets because their value is unlimited. They keep growing in value and multiplying in profits.

  1. Business is the first one. Your business is an asset. Once you start a business you have created an asset that can you make you rich. If you don’t have a business yet, you haven’t created an asset for your future.
  2. Real estate is the second one. All of the forms of real estate investment falls into this category. Their assets makes anyone rich.
  3. Paper – that includes stocks, bonds and mutual funds. If you are familiar with this, you will realize that the penny stocks of 10’years ago are the value stocks of today. Those who bought them in pennies and very rich today.
  4. Commodities – Gold. Silver, oil and gas. LPG or cooking gas is one of the commodities listed as assets that can make you rich. We have many of the oil billionaires in Nigeria. The same thing that happened with oil will happen with cooking gas.

See the future prospect and act now:

Now you know that this industry has potentials to make you a billionaire. If you have followed the Nigerian billionaire index, most on the people listed as billionaires in Nigeria are oil billionaires. And the fact fact Dangote is building a petrochemical industry to further increase his wealth, exposes the huge potentials in oil and gas.

Liquified Petroleum gas (LPG), popularly known as cooking gas currently has an annual consumption value of 55.5 billion naira. That is just a current consumption rate of just 15 percent of its full value. That means that the industry has a potential of an estimated annual consumption value of 370 billion naira, and can be more.

This is by far one of the largest market potential in the country. And I’m going to show you how you can become a billionaire in cooking gas business.

READ ALSO: How To Start 3 Cooking Gas Businesses In Nigeria

How Billionaires Build Business

If you are going to make this idea work for you, you need to understand how billionaires build their business. They use other people’s money. But you can’t just get other people’s money if you don’t think like the billionaires.

I know of the complain that banks don’t give loan. But of course banks shouldn’t give loan to someone who haven’t proved they can pay back. Every billionaire you see, was once refused loan by banks.

Here is how they did it and got all the money they needed. They first got their business working. And leverage on the success of that business to get money from banks for expansion. Banks would easily give you money for expansion but not usually money to startup.

And they would need proof of payback. If you can’t prove you are capable of paying back, you don’t even deserve the loan in the first place. And don’t criticize the banks, they are in business too. If you were them, you would do the same. You won’t give someone money who’s not sure of paying back.

Gas Billionaires Secret Plan

Every billionaire plan has hidden investments in all their businesses. If you know the business strategy of McDonald’s, you will understand what I’m saying. The owner of McDonald’s built one of the largest real estate investment in the United States while creating restaurant chain.

You must identify your secret investment in your cooking gas business. That’s what gives you leverage beyond the value of cooking gas sales. And it keep growing and appreciating in value overtime.

Imagine prime locations in major cities in Nigeria. The value alone over a decade would be worth more than your entire investment in cooking gas business. And that’s what gives your investment strategy a fail-proof cover.

A choice property you bought now might be worth ten times more in a decade from now. Even if your loan fails, you can pay off your debt with less than half of your real estate investment and still have more than half remaining.

You create value out of your loan plan by setting up on choice properties.

Plan For Startup Funds

You biggest secret is in how you intend to finance your billion naira cooking gas business. To startup a billion naira company would require proper financing. You can’t make billions from kobo investment. You have to invest in the billions too.

So, where is the money going to come from? You have to figure it out from the beginning. Don’t assume when you get to the bridge you will cross it. That’s a disaster going somewhere to happen.

You have to plan how you are going to get the money that you require to build your billion naira cooking gas business. If you can’t figure it out, you can’t build the business. There is nothing like luck here. No billionaire achieved success by luck. They have the plan all set out from the beginning.

At least, you must know how to get your seed capital to setup your initial cooking gas plant. And then with a carefully laid out plan on how you will get the rest of the money to roll out more gas plants.

If that is not done, don’t waste people’s time on your dream. Being a billionaire is not by trial and error. You can do that to hit your millions but not when it’s for billions. And that’s why there are not many billionaires in the world.

Part #2: Getting Started In Billions

As a billionaire cooking gas investor, the first thing on getting started is to plan how many network of cooking gas plants you intend to setup? That means you have to put up a powerful business plan as your road map to becoming a cooking gas billionaire.

That is your first step in getting started with your cooking gas business. You cannot compromise on it. Without a proper business plan you cannot even boast of a good cooking gas plant, not to talk of becoming a billionaire in it.

And beyond having a business plan, you have to adopt a business model. How the business behaves and operates would define the brand and attracts like-minds. You should give the business a direction from day one.

Write a Business Plan

A billionaire cooking gas business plan must be ambitious and very comprehensive. You can hire a professional with experience in cooking gas business to package it. And it should be different from the general business plan circulating online for 20k. A proper cooking gas business plan should have a comprehensive location assessment report for the target location you want to setup the plant and customized to your business.

Let it evaluate deep into the business image, branding, expansion strategies, building strong customer base as against just promoting the business, with a business model that sets you apart from the competition.

Also, one of the basic reason for a business plan is the structure of the business. You need to set the structure, functions, responsibilities, hierarchies, and reporting. The business should have a workplace culture that instill discipline, proper leadership, renumeration, and career growth.

You need a mega business plan. You will need this plan to secure loans or capital from investors. But it’s important that investors see your ambitious project from the beginning. They like big dreamers who can prove they are not afraid to get it done.

There are so many businesses that have big plans, but when you show capability to deliver on your ambition, you easily win investors heart. But don’t make the mistake of seeking for investors when you haven’t proven your dream is viable.

READ ALSO: How To Package A Cooking Gas Business Plan

Building The Business

Once you have a business plan designed for your billionaire project, then it’s time to start building the business. The startup requirements and financial inclusion for the business must have been defined in your business plan.

Identify the requirements you can start doing first while you work on the others. If you have the required capital to startup immediately, good. But if not, start the process to source for funds from sources accessible to you.

The business of cooking gas plant is not a one day business. Don’t expect to do it all in one day. You might as well advise yourself to be patient. It’s okay to experience some delay but don’t loose your focus.

And if you are entirely new in this industry, I recommend that you hire a consultant or get some mentors. Although, getting a mentor in cooking gas business may not be an easy one but you can get a consultant to help you at this point.

You must set the motion for your ambitious dream with your first cooking gas plant. It’s your pilot project. It has to be the right model of your entire business. Your key model most be seen implemented in this first project.

Here are things to focus on to get it right the first time:

A) Finance
B) Location
C) Branding
D) Plant Design

Let me explain the last one here, design. It’s part of your branding. But it’s more critical part of your branding. If you noticed, the banks use a particular building design. It makes it easier to identify a particular bank even if their name is erased from the building.

Use the same strategy. Don’t try to be like the other gas plants. Create a model design and brand it in your colors. That’s why I will always advise that you use a good contractor to build your gas plant.

Training & Retraining

One of the keys to a successful business is training. And to build a world class billion naira cooking gas business would require proper training and retraining of yourself and the workforce.

Cooking gas is a huge business proposition on its own. It’s a global business with successful companies all over the world your can learn from their success stories. You can also travel to experience what is obtainable in other countries and replicate such here.

The vision, mission and purpose of the business must be religiously communicated to the workforce. Also, structures, workflow, responsibilities, reporting and promotions must form part of the consciousness of the workforce.

If the people are trained to do the job, they will do it much better with great results. They will be aware of their relevance and contributions to the business. And if you instill good brand culture, people’s interests are protected and good efforts are properly rewarded.

Adopt a Business Model

One of the ways to ensure your business operates in the same way and structure is to define your business model. The structure and operation of your business must be unified and centralized for proper monitoring.

Once you are operating more than one cooking gas plant, you need your own model that would power the operations of the business. And because you are a brand, you need to make your business enticing to both customers and employee.

Think about the UBER business model. It was created to operate taxi globally by UBER without ownership of the taxis or the drivers. UBER owns the customers and shares that with the drivers. And today, UBER is the biggest taxi company in the world.

You can create your own model for your cooking gas business. Think deep and develop something world class. The successful billionaires doesn’t always go with the norm. The break the norm to create the unusual. And the unusual always win.

The people who work for you must understand how the business does its things. They must understand the company’s culture, style and approach to service delivery. And most importantly employees must see how their future and growth is protected in the organizational structure of the company.

Create a Global Brand

A cooking gas brand would set you apart from the competition. Having a brand is more than just having a name for your cooking gas plant and writing it all over your gas plant. You have to consciously build a brand with a global concept.

Cooking gas business is a global business. It’s a product that is consumed all over the world. And especially in Africa where the demand and consumption is still growing. The potential to expand your cooking gas business beyond the shores of Nigeria is likely.

Follow all the process of building a brand. Get brand managers to handle this aspect for you. It may not be something you may be able to finance from inception, but you shouldn’t take it off your sight from the beginning.

Once you build a brand appeal like Total, Oando, Dangote and the rest, you will be amazed how that would add value to your business, gives you unrestricted access to funds from banks and financial institutions for your expansion.

Having a brand is your secret to expanding your cooking gas business. If you want to become a cooking gas billionaire, you must build a brand for your business that will be recognized, accepted and respected.

Part #3: Setup Your Gas Plant

Once you have opened a business and setup it’s structure, the next thing would be to start planning for your first cooking gas plant. You need to learn all you need to know about starting a cooking gas plant business.

Don’t take anything for granted. A business with a huge potential of making you a billionaire would not happen by accident. Everything that should make your business a success should be followed religiously.

Remember that the focus is to build a business with billion naira potential. One cooking gas plant won’t do it for you. But setting up the first gas plant is key to achieving your billionaire’s dream.

Here are the steps to guide you in achieving your dream successfully.

Conduct A Feasibility Study

A feasibility study is important when setting up a cooking gas business. Apart from marketing which is one of the key success point in cooking gas business, the other and most important aspect is the location.

Cooking gas business is a location based business. If you get the location wrong the business won’t be successful. You have to pay close attention to everything that needs to be done to achieve a better location for your cooking gas business.

And the best way to ensure the location is suitable is not by assumption but by conducting a feasibility study. This study will look into the potential of the business in your chosen location and identify key points that would drive success or cause failure for the business in that location.

It will also identify the possibility of sales and estimated volume possible and what could be responsible for it. And with this report you can choose the right spot that would be suitable to site your cooking gas plant.

Your viability report is also a key asset when looking for a loan. Investors and banks alike love to see the viability of your business location. The banks understand location. Once you have prime locations for your business, banks understand your ambition and believes in your success.

Finding The Money

Money is a very important requirement when starting g a business. The Role of money is to get things done and to amplify what’s already happening. And for this billionaire cooking gas business, you will be needing lots of money.

If you don’t know how to raise money just forget about this dream right here now. This idea is not for those looking for business they can start with little capital. There is nothing little about starting a cooking gas plant, especially when you want to build it into a billion naira investment.

However, your first call is to find your seed capital. It’s the most difficult of them all but it’s your secret to landing more money and attracting investors. Although, there are other tricks you can also apply but they are just good at helping you if you already have a solid proof of your dream possibilities.

Your initial gas plant can be used as collateral for loan to setup more gas plants. And the more gas plants you build you can further collaterize them to get more loans. Although, this might be risky but thats what business is, a risk venture.

Finding Your Initial Capital

This might be a challenge for some startups. It’s not always that easy to get initial funding from banks and investors in Nigeria. But that should not stop you from trying. There are startup funds available from The Bank Of Industry. You can explore this opportunity.

Although, it’s usually possible when you have a collateral for the loan. Most financial institutions will not grant loan without collateral. Alternatively you can use the cooking gas plant equipment as the collateral for the loan. Some banks can give you equipment financing loan to buy the gas plant.

And if that’s the case, you will need to have a land for the gas plant and a professionally written cooking business plan for the loan request. Once you can convince the bank to give you the money you ask for with evidence to prove what the funds are meant for and how you are capable of paying bank or maybe a backup for payment failure, then you have yourself a loan to finance your project.

But don’t ever make a mistake of not adequately preparing yourself for the loan request. Get first hand information on the modus operandi of the financial institution you are desiring to request your loan from. With that information, a well written business plan and verified collateral, you are good for the loan request.

Finding a Location

Your feasibility report is your compass to finding the best location within the city to site your cooking gas plant. Although, it still needs to meet all regulatory requirements before it can be approved. But knowing where the business would be better sited would help you make the most important decision about your cooking gas business.

Think like mega petrol filling stations owners. They only site on major roads and busy locations. You don’t site a mega station in an obscure location. That should be the mentality for your location choices. The only difference between you and the mega stations is that you won’t need as much lands as they occupy. And you won’t need to invest as much money as they did.

All that you require is to locate in prime areas of the cities and attract high volume cooking gas customers to your gas plant. But you must also put the cost of acquiring those location as a major cost implication. In fact, it should be the largest chunk of your financial requirement.

And you need to get the exact land size for your cooking gas plant. The Directorate of Petroleum Resources also have stipulated land sizes for cooking gas plants. You need to know what land size applies to your cooking gas plant. You need to know that the 100 by 100 square feet is minimum. If your gas plant business model is 20 to 40 MT size you should consider a bigger land size to accommodate the big tanks, give you more operational space and for car parking.

But your location is key in making billions from cooking gas business. If you make mistake of using lowly patronized areas, you will have a cooking gas plant but not the billionaire cooking gas plant. Also, a good location is equally a good collateral for loan applications.

Getting Government Approvals

Another important part of starting a cooking gas business is getting the required regulatory approvals. Cooking gas business is regulated by the Directorate of Petroleum Resources (DPR). The same agency that regulates petrol products and stations.

They also have standard regulatory requirements for setting up a cooking gas plant. You can find this document on their website to help you understand the requirements in details.

You also need to understand what their requirement is about locating a cooking gas plant. It will help you to avoid making an investment in a location that would later be rejected by the regulatory body.

Also, you have to ensure you help speed up the approvals. Your non compliance to DPR requirements can slow down the approvals. And DPR have standard 6 months period for approval. If you are the only one that can delay it beyond this 6 months period.

And there are things you can do to follow DPR requirements judiciously. One is by using experienced technical partners to build your cooking gas plant. Not locating around another existing cooking gas plant. You should give at least 2km stretch from another plant.

You can find DPR approval requirement guideline HERE to download.

Installing Cooking Gas Tank Plant

If you are approved by DPR, which actually happens in stages. You will be given the first approval, which is approval to construct. This happens after they approve your location as suitable for cooking gas plant.

When that happens, you can begin the construction and installation of your cooking gas plant. And when the building, installing and testing are completed, the agency will still come back to confirm and conduct their own tests before you can be issued the final approval to commence cooking gas business.

However, apart from finding and using a choice location for your cooking gas plant and offsetting the cost of DPR approvals, which can run into millions of naira, your next major cost is the cooking gas tank.

Depending on the size of cooking gas tank you plan to setup, the cost varies. If your model is to setup mini cooking gas plants, then you should be looking at between N4 million and N8 million for a tank range from 2.5 metric tonnes to 5 metric tonnes. These are size range for mini cooking gas plants.

But if you plan to build a mega gas plant, then you should be looking at 10 metric tonnes to 20 metric tonnes. And your cost should be in the neighborhood of N17 million to N26 million.

This kind of model that would work best should be determined by your target market. Decide if you want to use the twin 2.5MT or single 5MT gas tank.

But since your primary target is prime location, using a 10MT or 20MT would need up to 2 plots or more lands. Plan your setup cost properly but don’t ever make a wrong decision with location or your target market.

READ THIS: A Complete Beginners Guide To Starting Cooking Gas Plant

Build A Customer Base

In every business, customers are the most important part of your success journey. How you win more customers, serve and retain them are critical to your success. You have to upgrade from the normal cooking gas business model to something that’s more customer centric.

Building a powerful customer base would take a lot of effort for a cooking gas plant but it’s worth it. Endearing yourself to the customers in the community or area where you are setup wouldn’t come so easy.

There are important approach your can take to implement a customer centric cooking gas plant. Although, a proper idea contemplation, planning and execution would require the professional guidance of a consultant. For example, conduction a census like to know your customer would give you a deep insight into the huge potential of your immediate customer base.

And many more ideas that would help you explore your market and build a reliable and customer friendly business that’s capable of keeping you above the competition and making your cooking gas plant more profitable. They are better handled by your consultant and making them more unique to your business.

Part #4: Expanding Your Gas Business

If this idea would work, you will need capital to finance it. You must also know that if you are going it big with cooking gas business, you must be ready to invest big too. It’s not a meager project and you shouldn’t be thinking like a poor investor.

For instance, buying a mega spot location won’t be cheap. If you want to think like the mega petrol station owners, you have to invest big on your Locations. Prime locations in every city is not cheap.

The cost of location would become the major capital requirement now and not the cost of gas plant installation. If your model is to use the twin or single 5MT gas tanks, you already know the cost. And the cost is already fixed. But the cost of location would depend on city and the area of choice.

Growing Your Capital

So, your capital is important in building a billionaire cooking gas business. Imagine if it cost you an average N45 million to setup one cooking gas plant; that means it would cost you N450 million to setup just 10 of the gas plants. And if your target is 100 gas plants that would cost you N4.5 billion investment.

You will need to grow your capital. But finding money for this kind of project won’t be that easy. There are risks to take, but the gain is equally huge. It has a lot to do with your first and second gas plants.

You must know that the most difficult of them all is starting the first gas plant. Once you scale through with the first, then it’s a lot easier to go for the second gas plant. That’s why starting in a profitable location is key.

And if you follow my counsel on building a brand first, you can leverage on that to seek for investment capital or outrightly go for a loan from the banks. If your cash flow is very good with the first cooking gas plant, any bank would be willing to give you huge loan. Although they might ask for your gas plant as collateral.

Loan Options for Cooking Gas Business

You may have a problem getting a loan for the first cooking gas plant. But you won’t have any problem getting investors or banks to loan you money for the second plant. However, I will advise that you run the first one at least for a minimum of 1 years before seeking for any investor or bank for money.

This would give you verifiable cash flow report to present to an investor or bank as evidence or ability to pay back the loan and a clear idea of what you can do with more cooking gas plant.

It’s also possible to get the Bank of Industry to fund your expansion drive. It’s usually easier to get money from any source for expansion than startup. A startup is a risky venture. But an expansion drive is less risky because they can see your operational report for a period of time.

But don’t make a mistake of going for just any amount. Go for an amount that covers the entire cost of setting up a new plant.

Finding New Locations

Once you have become successful with one location, the next step is to start identifying more locations for new setups. The best way to target the market is to create a map for your expansion drive. You don’t have to become an artist. Just make a list of locations within your target market.

Your location map should start with either local government areas in the state of operation or different communities in your state or even the same local government area, and major roads in each location as your target. If you are targeting the whole country, then start with more profitable locations across the country.

Also, you may need to travel a lot to these locations or hire a consultant to find you profitable locations. You can make it cheaper paying a consultant for this job by using estate agents to find the locations and hire a consultant to conduct viability assessment for them before you buy.

This way, you can get a viable location each time. Remember, it will cost you some money doing it this way but it’s worth the investment. It’s better to have a profitable location than discover later that it’s not viable after investing millions.

FURTHER READING: How To Pick Most Viable Location For Cooking Gas Plant

Setting Up More Cooking Gas Plants

Once you have your location plan setup, it’s time to start building more cooking gas plants. That means repeating the steps already outlined in this special report. There may be some to jump in the process, because you can only do them once. But the rest you have to repeat where necessary.

The key points among them is finding the right location for your new cooking gas plant. This process must always be followed by a location access report. You may use the same business plan and simply update it for each of your new location. But the one of locate viability assessment, don’t ever miss doing the assessment for each of the new locations.

So, the number of the gas plants you hope to setup is now your driving force. In my assessment, to become a billionaire of cooking gas plant business you will need to drive revenue in the billions annually. And depending on your average revenue per plant, you will set your number of plants to build.

Conclusion

The cooking gas business will make more billionaires as we already have from the petroleum side of the sector. The stage is being set for the new billionaires of cooking gas plant business to begin to emerge. And it won’t take time before we begin to see them take their place in the industry.

Don’t ever be discouraged by the seeming sprouting of cooking gas plants around us. Even if you didn’t build them yourself, you can buy them over and add them to your many cooking gas plants. If you set your motivation right, you will see the kind of results you seek.

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Grow Your Business

7 Ways To Rebrand Your Hotel For Profit

Do you want to change the fortunes of your hotel? Is your hotel not doing profitably as you would want it to be? Are you struggling to put guests in your hotel? Maybe it’s time for you to rebrand your hotel for profit.

If your hotel is not achieving regular guest hosting of between 50 to 80 percent, your hotel will be struggling to even cover your cost. Most likely, you may have downgraded all your services in order to reduce cost and to be able to stay afloat.

But that shouldn’t be the case. For a hotel to maintain profitability it should already fill up 50 percent of its rooms. That should at least help you cover most of recurrent costs like fuel or diesel cost, staff salaries, electricity bills, generator maintenance cost, equipment repairs, fixing and replacements, transportation costs, and other miscellaneous expenses a hotel incurs daily or monthly.

Understanding How To Rebrand

The power of branding is visible in every business entity, whether or not you actually set out to brand your business initially. The truth is that everything you do when you started your business is part of branding. And most businesses have actually branded their business poorly without knowing they were de-marketing their brand.

 

 

Branding is anything you do that creates impression to promote your business to your audience. If you are not doing branding consciously you might be harming your business or product. And rebranding is a change in branding to either upgrade, reposition or retarget your market.

Wikipedia defines rebranding as a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders.

However, not all rebranding requires the change of a name. You can do color rebranding or logo or design, or whatever that suits you, with the intention to impress and improve patronage. It’s important you actually set in motion the process of branding your hotel, rather than ignore or overlook it. Planning and thinking through the processes you engage in marketing your hotel will help you avoid demarketing your hotel brand.

So, how you create marketing materials, promote your hotel and serve your customers are setting the brand image of your hotel. You are either selling your hotel brand short or you are increasing your hotel brand equity.

Don’t Make Mistakes With Rebranding

If you had made mistakes with branding in the past then you really need to start rebranding your hotel now. Branding can work for you or against you. You are better off making branding work for you. And to correct the mistakes of your past branding, you should start rebranding your hotel.

First, you need to identify the main areas of your branding problems. If you don’t really know, get the services of a consultant. Although, it’s advisable to use a brand consultant throughout the process of your branding stages. Just as you can’t self medicate, don’t rebrand your hotel yourself unless you are a brand expert.

Anything you do in business just because you want to avoid spending money will eventually cost you more money. Just spend wisely and not lavishly. And plan your cost in relation to your return on investment. Understand that if you don’t invest properly in your brand marketing, you will not get the best benefits.

READ ALSO: 10 Simple Steps To Brand Your Business

Tips To Rebrand Your Hotel

Here are tips that would help you in your re-branding process. Although, I don’t advice that you embark on this without the services of a brand consultant.

For instance, without understanding what areas of your hotel rebranding would impact on your profit, don’t just spend money on rebranding. There’s difference between rebranding and renovation. You can renovate your hotel any time you chose. It may or may not impact on your profit. But if you are renovating as part of your rebranding process, it’s also different. The renovation will follow branding guidelines and will not just be the sole work of a civil engineer but with inputs and designs from a brand consultant.

These 7 points can help you Rebrand your hotel business. Once you identify areas you need major improvements, get help to rebrand it. Don’t self medicate in this kind of situation, since it’s already a problem you probably created yourself.

{1} Rebrand Your Hotel Image

This may not necessarily be the first rebranding strategy, but it’s important when you want to change the face and feel of your hotel generally. This might also be the most important when it matters the most, if getting attention of customers in your location is key to the rebranding.

This may involve change of name, lots of renovation work, repairs and services of major infrastructures of the hotel. Most especially the look and feel of your hotel brand. You need to know what customers have been complaining about your hotel. Your hotel image is important. I always recommend not just what customers could see, as in image but what they could feel, like the cool environment and steady electricity.

The main focus of rebranding your hotel image is to give customers the right perception that when they lodge with you, they will be paying a fair value for the luxury and comfort you provide them. So, when it has to do with image, don’t comprise with your hotel. People remember more what they saw with their eyes. Take that seriously in how you rebrand your hotel.

{2} Rebrand Your Hotel Services

If your hotel service is not topnotch, you are probably not competitive enough in the market. Always measure your service level based on your hotel type and customers satisfaction. If you really know what your hotel was setup to offer potential customers, it’s easier to know when you are failing in that promise or doing well at it.

Customer satisfaction shouldn’t be an empty promise. Itemize what your service promises are and publicize it in all your rooms. That would give customers an idea of what level of service they can get from you. It helps to keep their expectation within a defined level. People really like to know what they are getting and not to be allowed to operate on assumption.

And if you make a promise, let it bind on your hotel and train your staff to provide those promises excellently. Let your hotel be known for your services. That way customers will know what to talk about that you do in your hotel. That’s a good way to rebrand your hotel.

RELATED POST: How To Start Hotel Business In Nigeria For Beginners

{3} Rebrand Your Hotel Rooms

In hotel business the rooms holds all the magic. That’s where the customers make their final decision to lodge in your hotel. So, your best magic should be done in the rooms. Your can sell your hotel short or better with your rooms. If you are already in hotel business you would have known what customers are saying about your rooms firsthand.

And in the room, the bed is something else. Some hotels play the scheme of small size, queen size and king size beds. Depending on how this works for you, playing the bed game is a poor hotel marketing strategy. It means you don’t have better room deals that you have to use beds to create different packages. This kind of strategy sell your hotel short.

Hotel is luxury business and anything you do should be to give customers luxury. If the luxury is cut down the satisfaction is reduced. The rooms should be exquisite in beauty and the beds a touch of comfort. If you are not selling this kind of room and hospitality, even if you seem to be doing well because you have some monopoly of your location, some one may soon undercut your advantage.

{4} Rebrand Your Hotel Foods

Food is an important hotel service. When people come to lodge in your hotel, they don’t have a different plan of how they are going to eat. But most hotels fail their hosts when it comes to food. It’s either the food are not as tasteful and low class, or that it’s overpriced and discouraged lodgers from buying foods from you.

When rebranding a hotel, don’t miss the food. Even if your foods are selling and customers don’t mind, still rebrand the food. Its either you are adding more food options, or you are increasing the taste level. Foods are an integral part of hotel stories. If they foods are not good the customers notice.

Although, most lodgers have written off hotel foods for two reasons; for their bad taste and high prices. This areas should form major part of your food rebranding process. Don’t push your lodgers into eating outside your hotel, and then, only to return to order water from you. Push food as an integral service of your hotel and encourage customers to eat food while they are lodging in your hotel. Moreover, see food just as an extra revenue source. Don’t put all your revenue burden on the food price.

{5} Rebrand Your Hotel Bar

That also includes the bar section. You shouldn’t make drinking at your hotel a financial problem. Some hotels markup their drinks higher than regulated retail price. That’s not entirely bad but don’t overdo anything in hotel business. Anything you do gives the lodger an impression of your brand. Sometimes high price is misconstrued as extortion. You don’t want your customers thinking that you are extorting them.

Think reasonably when pricing your drinks. I once bought a bottle of red label drink from a hotel bar for N7,000. This same drink is sold in Shoprite for N3,999. I paid extra N3,000 for the same drink and end up paying that much for a knock-off version, when the original is sold at N3,999.

Although, not every hotel has a large open bar. Whatever bar you have, try to make it as reasonable as possible for your customers. I have seen guys leave their hotel to go drink in a nearby bar because the price is cheaper. If you know you target customers and how they think, try and align your prices to match their expectation.

{6} Rebrand Your Hotel Marketing

Marketing should be at the heart of rebranding your hotel. How you get customers daily to your hotel is important. And how many channels of marketing you have is equally important. Also, you need to identify which of them are generating revenue and how much? This kind of assessment is important to how you brand your hotel.

If more customers are not walking into your hotel daily, you are actually not running a profitable hotel business. A good hotel should be having problem of over booking or being fully booked to rejecting new bookings. If you are not having that kind of problem then you are having the other kind of problem, which is not good for your bottom line.

Your marketing should focus on every area that has the potential to get you new customers daily. Imagine if you have 5 channels and each one can get you 7 new customers everyday; that’s 35 new customers daily. This excludes returning customers and walking customers, whom you may not have control over their patronage. And if you have 50 rooms hotel, you have already solved much of your problem by attracting 35 new customers everyday.

But how do you go about building your channels? You can decide to have an in-house marketing staff. That’s good but may not be effective if your hire is limited in their knowledge on hotel marketing. You can also outsource this to a third party, which is better but may not be cost effective. An experienced freelance hotel marketer will be better at the early stages. Don’t skip this process. And you can reuse them when ever you feel the sales are slowing down again. You can also retain a freelance marketer on a monthly retainer-ship fee that pays for itself monthly.

Some smart hotels also use their empty rooms as a marketing strategy to attract new customers. You should explore how to turn your empty hotel rooms into a trap to get new customers.

READ ALSO: How Marketing Works For Beginners

{7} Rebrand Your Hotel For Competition

Do you know what your competitions are doing to get more customers than what you are getting? You cannot be competing with rival brands and be ignorant of what they are doing. There’s nothing wrong in businesses spying on each other. It’s what many businesses do normally, spying on their competition. And you should be doing that too.

And if you don’t know how to spy on your competitors, hire a business consultant. It’s safer you hire a consultant that’s experienced in business, branding or marketing and strategies as well. That way you have an expert who really know how best to spy on your competition. Remember, you are not spying on them for negative reasons. You are looking for what they are doing so well that could help you boost your own business.

Do you even know what’s your competitors unique selling proposition? You can learn a lot from the competition if only you know what drives their hotel business. Sometimes the secret you are looking for is in the open. Who they are, what they do and how they do it are as simple as a USP.

 

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Conclusion

The biggest problem for hotels is unsatisfied customers. Sometimes your staff can so displease customers and put your business is grave danger. In the past that could be easily overlooked but not anymore. One displeased customer can wreck your hotel business. So, you dare not ignore your customers anymore.

The internet is another aspect of your hotel business that you should take seriously. It’s either you are working the internet to your advantage or the internet could be working against your hotel business. Even one bad customer review can take away customers from your hotel. And the customer might not even be right, but merely angry at the way he or she was treated the last time they visited your hotel.

Finally, hotel business is to provide relaxation, comfort and luxury. Stop seeing your hotel business as a rental business. It doesn’t matter how small your hotel is, don’t ever compromise or miss your purpose. Some hotels have derailed to just rental business. But hotel business is not a rental business.

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How To Sell – A Simplified Guide

One of the most important skills you should acquire in life is how to sell. If you know how to sell anything you are more likely to be successful in business than someone who doesn’t know. But when you don’t have Selling skill, you put your business in great danger, and you lack the ability to convert your products or services to a profitable opportunity for your target audience.

 

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That’s because every business requires selling skills to succeed. The value of sales skill is a highly sort after skill in every business. No business can achieve greatness without the best sales team. Even on the internet, affiliate marketing, which is sales, has continued to dominate how to sell in a digital world.

If you want to start a business, the first skill you must have is selling skill. Don’t take it for granted. Sales is a skill you can acquire through learning. And there are many courses online to help you learn how to sell.

Furthermore, there are two important things you must understand about sales. They are the people and the product. If you don’t understand the people you are selling to and the product you want to sell, you cannot have a great selling experience. The people must be clear to you. And you must know the product like you know yourself.

How Sales Work

The most important part of any business is the sales. Businesses are setup to make sales. And if sales doesn’t work the business fails. So, in how to sell, it’s important that you properly understand how sales work beyond assumptions. And above all, you need to know the things that makes sales work.

Remember, if anything is working, it’s because somethings are responsible for making it work. You need to know how sales work for some businesses and not work for others. What are they doing to make sales work that you should know and do for your own sales to work?

Moreover, sales works better when it aligns with your marketing. (Read the post: How Marketing Works). Most startups misunderstand sales with marketing. Though they work together, they are not exactly the same. While marketing deals with interest of the audience, sales handles the activities to produces the sales. It’s a direct exchange of product or service with money.

Think of sales as a direct process a business follows to exchange its product or service with money. Once money exchanges hands with your product or service, sales have taken place.

How To Sell Anything

Now that you know how sales work, you need to know also how to sell anything to anyone. Your understanding of what you want to sell is key to selling it to anyone. The people who would buy your product or service would like to know what you are selling. It’s only when you know the product yourself that you are inspired to sell it to anyone.

However, to sell anything is not just about the product. You will need to know the product or service so you can sell it better. But what makes sales work is by knowing how to sell. If sales can be learnt then it has to follow a process. That means, there are sales guidelines one needs to follow to sell any product or service.

What are these guidelines? Based on this, let’s look at what to sell, things to avoid, what the buyer needs, and how to make your sales convincing. These four guiding principles is what would help you sell anything to anyone.

{1} What To Sell

In how to sell, even though it’s about the product or service, your focus should be on what exactly you want people to think they are buying from you. That’s very important because people buy value and not necessarily the product or service you offer. And it’s your job as the salesperson to sell them what they really need to buy.

To sell anything you have to know what you are selling. The primary reason people want to buy product or service is because they require solution for something. And what you are selling must be a solution that they need. This solution must also be the right or near fit to get the attention of your target audience.

However, there’s a right way to sell your solution. Your sales strategy must be clear and concise enough to get the buyer to make purchasing decision as fast as possible. It’s shouldn’t be based on complicated logic. It’s important to make the buyer see the reason he or she is buying your product, even on face value.

Moreover, how to sell should involve emotion, driven by strong desires. Even though selling shouldn’t include exploitation, but when it comes to buyers emotion, you need to get their emotion involved in the purchase. As long as it’s not deceptive, and forceful, but a subtle enticement that seeks to explore what’s already in the buyer’s desire.

Note that every purchase is driven by a desire. If you can find what those desires are, use them to drive your sales.

{2} What To Avoid In Selling

There are things you have to avoid about how to sell. They can frustrate your sales and lose you clients. These things most be avoided like plague.

The first one I consider in the sales mistake is allowing prospect lead the sale. For whatever reason, you don’t let them control the sales pitch. Sometimes it’s not about what they say but how they feel about how you sell.

The second one is having ego problem. Some customers have ego problem too. How you present your product can be misunderstood by such type of customers. These customers thinks they know more than you. They also don’t like to be corrected, it makes them feel offended. To sell to them you should be smart enough not to hurt their ego, while you can turn that ego into a selling point for your product or service where it applies.

{3} Identify Buyer Needs

The best part of sales is knowing what the customer really wants. If you can identify the buyer’s needs it makes it easier to win in sales. The customer needs to have better reasons to buy. It’s this buyer’s needs that you sell back to your audience.

You have to realize that customers don’t like to spend money or buy products. That may surprise you, but use yourself as an example. How easy do you like to spend money? And how often do you query a price tag on a product?

As people don’t like to buy product, they are rather forced to buy because of their needs. You buy a car because of the need to move around much freely, whenever you want to, without the inconvenience of public transportation. But considering the price of cars, you may not want to buy one.

That’s why how to sell requires the pushing of the emotional button. You make the customer feel the need to buy a car, irrespective of the cost consideration. So, rather than worry about the cost of the car, the customer is consumed by the strong desire to buy the car.

{4} Be Convincing

The power of sales is the ability to convince a customer to make the purchase now and with you. That’s why you need to understand the different kind of people to sell to. When you prospect for sales, always seek to end it with an actual sale. Sometimes after you have prospected a client, they might end up buying from a competitor.

You need to avoid this, by being not just more convincing but add a time frame. Your customers need to make purchases quickly and with you. But most times it’s not even about how convincing you are but the right kind of customers that you target.

How To Sell To People

If sales is exchanging products with people for their money, then you ought to know how to sell to people. Don’t assume that people will just give you their money because you have a product or service to exchange. Sales doesn’t just work that way.

There’s some complexity of sales you need to understand. If sales are not done properly they don’t yield the best result. And the only way to get the right result is to know how to sell to people.

Sales work when your product or service is properly targeted at the right people who really need it, who can afford it and who are willing to make the effort to get it. If these elements are present with your audience, it makes sales work better.
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First, you need to understand the 4 different kinds of people you can sell to. It’s not everybody that’s your target audience for your product or service. More so, even among your target audience you can further classify them into 4 groups. And you need to know this when you are conducting sales.

{1} People With No Job

The first category of people you need to understand when planning sales, is people that has no job. This category can cut across different audience categorization in your buyer persona. If your target audience are doctors, there are doctors who don’t have jobs.

The reason is, these people who don’t have jobs, even though they have time, may have no money and possibly can’t travel. By understanding the people you plan to sell to with this kind of buyer persona would make your sales directional. This category may not do much to help your sales.

Even though these category don’t have money, they may sometimes represent the largest buyers of certain products like groceries. And they mostly shop offline than online. They look out for huge discounts and clearance sales. They don’t mind traveling to buy the product. They also have time in their hands to visit the malls and walk through, looking for cheaper deals.

{2} People With 9-5 Jobs

The second group of people are those with jobs. These people are working, and that means they have money, but not necessarily time and possibly can’t travel too because of the tight schedule of their job.

If they have money that means they have purchasing power, but may not buy anything that requires their time investment. And so, will not travel to buy anything as well. These kind of customers are the large number of online shoppers. The enjoy the flexibility of online shopping.

{3} People Who’Re Self Employed

This category are people who are self employed. That means they have money, and can possibly travel. But they have no time due to their daily engagement with their work. So, even though they have purchasing power, they may not subscribe to product or service that would demand for their time.

Forasmuch as they have money and can buy from you, they may not have the time to actually buy your product or service. Or even come to the location where the sale might take place. These consideration would help you package the right sales strategy for your target audience.

{4} People Who’Re Business Owners

Finally on how to sell to people, let’s consider this fourth category, which are people who own businesses. This class of people have everything, including time, money and can travel. If what you sale requires the people to meet all the 3 conditions of the buyer persona, then, this people are the best fit for you.

However, all the different classes gives us an idea of the different buyer persona on how to sell to people. If doctors are your target audience, you will have all these 4 classes present. There are only a few of the buyer persona that you won’t find all these 4 different classes of people present.

How To Sell In A Digital World

You cannot talk about sales today without reference to the digital world. The highest number of sales today happen online. And every salesperson must focus on the internet. The huge potential provided by the internet for sales is unprecedented.

The most powerful way to sell online is through eCommerce. The power of online stores in managing sales is not only felt in the automation process, but also in the number of sales that is possible online than what is currently possible offline.

Moreover, here are the main types of digital marketing you should consider for your business when planning how to sell online.

  • Content Marketing
  • Search Engine Optimization (SEO)
  • Search Engine Marketing (SEM)
  • Social Media Marketing (SMM)
  • Pay-Per-Click Advertising (PPC)
  • Affiliate Marketing
  • Email Marketing
  • Instant Messaging Marketing

These are just few of the ways on how to sell digitally. While these are digital marketing processes, they also follow sales process. The Balance Small Business Blog gave a 5-step sales process to follow on how to sell in a digital world. See the list below:

  1. Marketing/prospecting to your target market and audience.
  2. Building credibility and trust.
  3. Escorting and courting the buyer through the process.
  4. Presenting the product or service that meets their needs.
  5. Closing the sale.

However, customers are more likely to buy online when the order comes with free shipping, even if the shipping is bundled in the order than when a lower price is offered with cost of shipping charged separately.

Remember, we have looked into not allowing prospects lead the sales. This kind of scenario can achieve that either way. Customers can argue about shipping cost or get discouraged to buy. But if the shipping is free it eliminates arguments.

Conclusion

The success of any business is controlled by its sales. If you get sales right, everything will work effortlessly. Imagine if you know what the customer needs, it makes sales a lot more rewarding. And like I emphasized with different people to sell to, having money to buy is an important key in the buyer persona.

 

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And from the 4 different types of people, only one didn’t have money to buy product or service. That means most of your sales work is not about looking for customers with money. Rather, it’s about finding the customer who is in urgent need of your product or service and is willing and able to commit to a sale. It’s this kind of customers that can quickly give you money in exchange for their need.

However, the biggest sales in history are now taking place on the internet. If you are selling anything, you should be selling it online.

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How Marketing Works For Beginners

Although marketing works the same for everybody, but there’s a way it can be well explained for beginners. That takes away the seeming complexity that most people associate with marketing. Even if you are an MBA student, this simple explanation about marketing will help you understand it much better.

As a startup entrepreneur, your understanding about how marketing works will give you an edge over the competition. Most times, startups see marketing as a subset of advertising. But marketing is the embodiment of sales. Sales happen as an effect of marketing.

In this post, we are going to look at what makes up marketing, by exploring the simple details of how marketing works, especially for beginners who know little about marketing.

Who’s A Marketer?

By understanding who a marketer is, will help you grasp the Know-how of marketing. After all, the sole purpose of learning how marketing works is so that you too can become a good marketer.

So, the primary duty of a marketer is to present a product or service before a target audience, to win their interest and patronage, with strategic messages that raises brand awareness with the intent to drive sales.

However that duty includes finding the best distribution channels to market the product or service. Finding the finances required to run the enterprise. Also, conducting market research about the potential of the market for your product or service. While also managing the product or service, and utilizing all promotional channels available in the target market.

Note: You don’t necessarily need to become a member of National Institute of Marketing of Nigeria to perform marketing functions in your business. But membership of the Institute is compulsory for only practitioners of the marketing profession.

Understanding How Marketing Works?

Marketing is not sales. Know what makes the difference. This must be clear to you. There’s a difference between marketing and sales. That’s because marketing deals with what makes people interested in the product or service being sold. While sales addresses only the activities that lead to the selling of the product or service. So, when you understand and able to differentiate these two, then you can properly articulate how marketing works.

That brings us to the functions of marketing, which includes:

  • Distribution
  • Market research
  • Setting prices
  • Finance
  • Product management
  • Promotional channels
  • Matching products to consumers

Marketing involves every aspect of a product life, till it gets to the final consumer. So, the main goals of marketing, which is to research, promote the product to increase target audience engagement that would lead to the selling of the product or service can be defined as:

  • Customer Service
  • Lead Nurturing
  • Lead Conversion
  • Brand Awareness
  • Upsell
  • Loyally

What’s Advertising?

A professor once gave a simple and educative illustration about marketing to his MBA students. This simple illustration will form the basis for explaining marketing in this article. I will start first by using it to explain advertising, and then the rest of the sub heads under how marketing works.

The professor began with the idea of how you with your friends being in a party, and you spotted a gorgeous looking lady. This scenario will form the platform for every of the illustration, with different reactions or statement to accompany each of the explanation.

Now, if one of your friends go up to our gorgeous lady and pointed at you saying, “he’s very rich. Marry him”. That simple illustration is what advertising means. You are the product, your friend is the medium, while the lady is the target audience.

Also, your friend in his words expressed a proposition to the lady, while prompting her on a course of action. His message was clear: he’s very rich. And what he wants her to do is also very clear: marry him.

This simple illustration explains advertising in a way that everyone can understand. Now, from the concept of marketing, which advertising is a part of, you can understand the role of advertising in marketing. The concept of advertising is to influence consumer purchasing behavior. This influence is induced by emotional force.

What’s Direct Marketing?

Using the same illustration of our gorgeous lady by the professor, let’s define direct marketing in simple terms. But this time, it’s different from how advertising work. Imagine you walk up to her and say, “I’m very rich. Marry me”.

Notice the difference between advertising and direct marketing. In direct marketing, you don’t need someone to do it for you as an intermediary. You are not using any medium or channel of distribution. You are selling directly to the target audience.

Examples of Direct Marketing

There are many ways you can engage in direct marketing. The following examples of a direct marketing would help you find what will work best for you. The most common forms of direct marketing are:

  1. Internet marketing
  2. Face-to-face selling
  3. Direct mail
  4. Emails
  5. Catalogs
  6. Telemarketing
  7. Direct-response advertising
  8. Kiosk marketing
  9. Flyers
  10. Phone text messaging
  11. Promotional letters
  12. Newspapers
  13. Outdoor advertising
  14. Magazine adverts
  15. Coupons
  16. Postcards

What’s Competition?

The next important aspect of marketing is the competition. It’s one of the major reason marketing exist in the first place. If there are no competitors, customers would readily find you when they need you.

Marketing is a way of maintaining your market share in a competition. But to explain market competition, let’s resort to professors illustration with our gorgeous lady at the party. But this time, as you got to the lady to say anything, another person got to her first to tell her: “I’m rich. Will you marry me?’ And she goes with him. That other person is the competition.

What’s Brand Recognition?

Branding is one of the biggest part of marketing because of what it seeks to deliver. It builds a long lasting relationship between the product or service and the target audience. A brand gives a product or service a lifeline.

And here’s how the professor illustrates brand recognition using our gorgeous lady at the party. This time, she walks up to you and says, “you are very rich. Can you marry me?”

She’s the one that spotted you. Also, by herself knew that you are very rich. And without hesitation requested to be married. That’s brand recognition. You are recognizable as very rich, to the intent of your target requesting marriage with you.

Any brand that can achieve this kind of recognition is powerful and cannot be easily defeated by the competition. Think of brands like OMO that has replaced the real name of detergents with its brand name – OMO.

What’s Market Restriction?

Moreover, markets can also have restrictions. And that’s our next topic on how marketing works. You need to know what are the restrictions in your market. Some business permits are there to restrict those who can’t meet those requirements from entering the business.

Let’s use the same professors illustration of our gorgeous lady to understand what market restrictions are like. Think of of it as you going up to her, but before you say, “I’m rich. Mary me,” your wife arrives on the scene. That’s like a restriction of entering new markets.

Restrictions exists to stop you. But it’s up to you to know what’s stopping you and how you can overcome those challenges to gain your place in the market.

What’s Demand And Supply Gap?

When you succeed in overcoming the restrictions to get into the market, then prepare yourself also for what could come next. The right thing to do at this stage is to supply your target market what you promised to deliver. And while your supply chain moves in, your marketing should as well address the demand side.

Things can get ugly when demand doesn’t seem to match with supply. There could be demand and supply gap.

In the professors illustration with our gorgeous lady, he made it very simple to grasp. It’s like you going up to the lady to say, “I’m very rich. Marry me”. But she turns and introduces you to her husband. That’s a typical demand and supply gap.

The competition is already present in the market. And your target audience are already in bed with them.

What’s Telemarketing?

So, what can you do about your situation? Let’s consider telemarketing to understand how it works in marketing. The role telemarketing plays in how marketing works is essential in dealing with issues of demand and supply gap. It offers you direct marketing advantage that could help you woe customers to your product or service.

How would our professor describe telemarketing, using the illustration of our gorgeous lady? Imagine, you go up to her and got her telephone number. The next day, you call her and say, “Hi, I’m very rich. Marry me”. That’s telemarketing.

You are marketing to her directly through access to her phone. You could also use text messaging to do that. But the idea here is that you got her number for the purpose of reaching her with marketing.

Understanding Customers Feedback

Now that you have access to your customers and they are convinced about your product or service, it’s your job with marketing to know what the consumers think about your product or service. It’s a great way to measure how marketing works.

You will love what the professor thinks about customers feedback, in our illustration using the gorgeous lady. It’s like you going up to her to say, “I’m very rich. Marry me!” But she gives you a nice hard slap on your face. That’s what’s called customers feedback.

Also, it doesn’t matter if she just smiled at you and kissed you. Whatever reaction you got from customers feedback is for your advantage. Use what you got to address your product deficiencies or shortsightedness. The customers feedback is there to always point you in the right direction of what could keep your relationship with your target audience sweet with merriment.

Conclusion

You can understand better now from our professors point of view how marketing works. By following the professors illustration we have explained in simple terms how marketing works for beginners. However, one thing is clear, marketing has several parts to it. And if you need to make marketing work for you, then learn all about the things that makeup marketing.

The concept of marketing reveals how marketing works is to satisfy customers needs, increase sales, maximize profits and beat the hell out of the competition. As a marketer, your job in the management of the business is to design best strategies that will create profitable relationships with target customers. And if you do that successful, you have marketing working for you.

Finally, the problem with a lot of marketing strategies by beginner startups is their lack of understand of the difference between marketing and sales. Their ignorance, often times caused by the lack of knowledge of how marketing works, is the reason they never get it right with marketing. So, emphasis is placed on sales as though it covers marketing. Yet, you can only succeed with sales if you make marketing work first.

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3 Easy Tips for Finding Products That Sell

Starting an eCommerce business is no longer a tedious job. But when it comes to finding products that sell, in a competitive market, the work can become tough with risk. A good product is not just the one the solves a problem, but a product that sell.

If consumers are not willing to buy a product, it doesn’t matter how good the product is. And as competition grows, it makes it more difficult to make profit on the product. It would now require a lot of marketing efforts to win. And that comes at a high cost.

In today’s competitive world, you don’t waste time and money on products ‘nobody’ wants to buy. You don’t want to find out later that all your efforts didn’t produce return on your investment.

That’s why finding products that sell should be your most important step when starting either an eCommerce or drop shipping business. Irrespective of your niche, the right product is key to its success.

Products That Sell Online

The online market out-sells the offline market by far. Even at that, not every product that sells well online. There are still products that struggle to get online consumers attention. So, you need to identify products that sell for your niche even if you sell online.

Amazon has a list of their top 100 products that sell on the platform. You can start here to build an idea of what makes a product sell better.

Here are some of the Top Selling Categories on Amazon that made the list:

  • Toys & Games
  • Electronic Accessories & Gadgets
  • Video Games
  • Camera & Photo Accessories
  • Books
  • Clothes, Shoes, and Jewelry
  • Beauty And Personal Care

This only represents what happens with shoppers on Amazon. It doesn’t represent the entire product demand curve for all shopping experience online. However, when searching for products that sell on a niche basis, don’t just take these generalized assumption as final. Review your products critically to prove their sellable advantage for your target audience.

{1} Product Competition Rating

The first step is to confirm the product competitive rating. What are the things that make such products competitive? You will be looking at two key factors to qualify the products based on competitiveness.

The 2 things to look out for here are: the margins on the product, and to determine whether or not the product is worth it. A competitive product should have good margins and also worth the competitive hype.

Is The Product Worth It?

Where you are sourcing your products that you sell would help you determine the product worthiness. Take for instance you are using Aliexpress. Most eCommerce stores and drop shippers use Aliexpress.

You need to compare the product you sourced from Aliexpress with other online stores that also sells the same product.

After sourcing your product from Aliexpress, compare it to other stores that sell the same product. It’s important to gauge product popularity. How many other sellers Stock the product? And possibly research about the volume sold within a short period.

Identify The Price Margins

If the product have good sales volume, then the next thing to gauge is the price margin. Sometimes products that sell more don’t always have better price margin. Even though they are good in sales volume, their profitability may be an issue if you hope to optimize sales.

You need to consider advert spend when choosing products that sell. What could be your ad spend per sale? Do you pay commission for selling on marketplaces? What’s the cost of return products to you? Plus, what’s the shipping cost? Those would help you consider your right price margin for the product, with proper evaluation of your product processing and risk.

The product should have a high enough margin so that you can spend on ads to drive sales traffic and still make profit. But it shouldn’t be so high that it feels overpriced. Because customers would quickly dictate overpriced products. If not, other sellers may decide to uncut the price as a strategy.

{2} Product Search Volume

The main reason of consideration for products that sell is the volume of people who need it. The number of search volume for the product is important to picking a best seller. The more people that needs the product the better.

Your product search volume should put into consideration this very important factors. Apart from how many people that are searching for it, check for the actual search coming from your target market, and how many of the search are possibly leading to actual sells.

While you may easily find search volume for the product, actual sells may not be easily calculated. But you should gauge ad spend by competing brands or stores to understand what could be happening with sales.

Are People Interested?

People’s interest in the product is always a decider when picking products that sell. Take note of the search volume for your marketing plan. Always consider the fact that the entire search volume doesn’t represent your target sales.

There are other competitors in the market too. Use Google keyword Planner to determine if there’s enough search volume to make your product profitable. If there’s enough searches, then gauge the percentage of these search you can attempt to capture.

Be realistic with your projections. Assuming the monthly search volume for the product is 10 million. Identify the top leading competitors who’s getting the larger chunk of the traffic. Know why they are getting the highest traffic and target how much by percentage of this traffic you can attract for yourself.

Identify Consumer Interest

If there’s enough traffic, you need to know how consumers are arriving at the product through search. What trends are driving the highest search traffic? Identify those high volume keyword strings that consumers are using to find the product.

If you know what consumers are searching for, it will help you position your product details to focusing on those particular problems. You can also know how easy or hard those keywords can be ranked for.

Remember, products that sell with someone else may not necessarily sell with you. Be better positioned in search traffic. You need to tap on the consumer interests to rank better and attracts more search traffic.

{3} Trending Products That Sell

Moreover, having high search volume for the product is not just enough. You have to find out if the search volume for the product is constant, or rising or maybe falling. This is important to help identify changing consumer taste.

The potential of the product is what increases your sales. If it’s trending is stagnate, that’s good but may not be good enough considering the the search volume for your target location. And it’s always important to narrow trends to your target market. What’s trending for US consumers may not be trending in the European market.

And observe the falling trend. How deep does the trend fall sometimes? Or it’s the trend constantly falling and what difference with comparing months? Also identify what could be making the trend to fall. Sometimes trends could fall as a result of an outbreak or natural disaster. If the fall is not caused by changing consumer taste, monitor it for a while to ensure it has capacity to rise.

Is This Product Hot?

But if the product trend is rising, that a recipe for products that sell. It shows consumers interests are on the rise. However, compare the difference between months to see how it has risen in the last 3 months, 6 months or 1 year.

Use google trends to determine if the product is going on and upward. This Google tools will give you all the information on the trend life of the product, including its downward, or stagnant trend.

For sure, a winning product will be on an upward trend. You should always pick products that sell by how they trend upwards. And if a product had been trending for years that’s a hot product for sure. Even if it’s just starting to trend, but has kept rising, that’s a hot one too.

Conclusion

Any product that cannot guarantee high search volume in your target market is not among products that sell. And when picking these hot products, always consider your competitors and how much of the market share you can possibly redirect to your business.

And don’t forget to check how hard or easy it will be to compete in the search volume for the product. If all the important and high volume search keyword strings are too difficult to rank for, it may be a recipe for disaster. Avoid such product completely. Especially if the competitors are high value brands.

Always check all the keywords consumers are using to search for the products and evaluate their search volume and how easier to rank for most of them. Your ability to rank for these products is a much needed advantage. Successful eCommerce stores don’t depend on adverts hundred percent of the time.

It’s a huge advantage to target free traffic from search engines to help cut down your advertising rate for each product to increase your profit margins.

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How to Prevent Stealing Your Ideas In 2021

Do you want to share your unique business ideas with someone who you think might be able to help you out but you are worried that they might steal it? How do you prevent stealing your ideas? You can still share your ideas with potential investors but you need to put protective measures in place, like a non-disclosure agreement.

You shouldn’t let someone just steal your ideas because you approached them for funding or partnership. It’s not just wolves of Wall Street that you should be afraid of when building a business. You should also be afraid of those who might steal you ideas, trade secrets, registered patent, etcetera.

There are harmless looking business executives, friends, colleagues, startups, entrepreneurs, investors, even lawyers that won’t hesitate in stealing your ideas if they have the slightest chance to do so.

That’s why you need to protect your ideas from anyone who you may have need to share it with. In Nigeria stealing business idea is not really new. In fact, people steal ideas without consequences. Probably because most people don’t even know what to do about it. Or comply because most people are not protecting their business ideas

Your Next Big Thing

Every entrepreneur believes their ideas are the next big thing. While in essence, startup ideas are worth nothing of financial value. If not, there would have been a marketplace for selling ideas to the highest bidder.

That’s not to mean that you shouldn’t protect your ideas from being stolen. Although, most startup ideas are too simple to even be stolen. It doesn’t change the fact that those simple ideas might end up becoming billion dollar ideas when implemented.

Having an idea doesn’t equal to the world’s next big thing. It might seem to you but it doesn’t always translate to that. Your ideas are not money. So it cannot be purchased. But if you think you have found an idea that could change the world, do the needful and protect it from anyone you may share it with.

How Ideas Are Stolen

You may think, what’s there to steal from you? Well, I want you to know there’s a lot that can be stolen from you in business today. Even though startup ideas have little or no value, if the ideas found their way into the hands of someone with ability to implement them, they will be worth millions, if not billions in no time. Facebook is an example of a stolen idea.

Dave Schools shared some insightful truth about stolen ideas that you may need to read. Also, Dave shared that there are two likely ways Ideas can be stolen from you. And below are Dave’s two observations.

  • Ideas are most likely to be stolen from someone with competency in the field. The risk is in the details. If you reveal all your work to someone who fully understands and has the skill to create your vision, then you may be putting your idea at risk.
  • Ideas are most likely to be stolen when action has already taken place — there is a vision and plan on paper. Several examples showed ideas being stolen when a plan-of-action, proof-of-concept, and research were attached to it. If you give someone a treasure map don’t be mad when they follow it.

Who’s Likely To Steal Your Ideas?

The people who steal your ideas don’t just walk through the doors and steal them. Most times business ideas are stollen by people you trusted and shared your ideas with them, earthier because you needed financial support for the business or you wanted to get advise from them, if they are mentors.

So, the likely people to steal your ideas are not some broke fella on your street. Or some guy you are friends with that doesn’t even know how you are going to achieve such big dream. Rather, it’s those experts you consulted. The banker you reached out for financial help. The lawyer that is supposed to protect you from business risks.

These high value stealers are most times overlooked when you think of when you fear your ideas might be stolen from you. And the reason they are more dangerous is because they have what you may lack and the most likely the required experience to make your idea successful.

Prevent Stealing Your Ideas With Non-Disclosure Agreement

Investopedia says that a non-disclosure agreement as a legally binding contract that establishes a confidential relationship. It’s an agreement that involves a party or parties signing to agree that sensitive information they may obtain will not be made available to any other party.

This kind of agreement is common with business negotiations with other businesses that involves the disclosure of sensitive information that belongs to one of the parties or both. A non-disclosure agreement allows the parties to share these information without risk or fear of lose of sensitive material getting into the hands of a competing business. It’s also called a mutual non-disclosure agreement.

Tips On Non-Disclosure Agreement:

  1. An NDA acknowledges a confidential relationship between two or more parties and protects the information they share from disclosure to outsiders.
  2. The NDA is common before discussions between businesses about potential joint ventures.
  3. Employees are often required to sign NDAs to protect an employer’s confidential business information.

Benefits of Non Disclosure Agreement:

A non-disclosure agreement has benefits for both parties that signs it. But mostly for the party that has something to protect. The two point benefits of a non-disclosure agreement includes:

  • Protection from disclosure of intellectual property, which includes trade secrets, proprietary information, and other confidential information.
  • More legal protections and options if the party does infringe on a patent or otherwise use protected information.

By asking the parties involved to sign an NDA (non-disclosure agreement), it’s like oat taking. They are signing a contract which states that they cannot talk about your idea to anyone else or use it themselves without your permission.

Steps To Write Non Disclosure Agreement (NDA)

A non-disclosure agreement is most commonly signed when the parties are interested in entering into a business relationship. Here are points to actually write one.

  1. Identify your trade secrets or confidential information.p that need to be protected.
  2. Decide if you need to share confidential information and why
  3. Protect confidential information before signing an NDA.

But how binding is a non-disclosure agreement? The confidentiality is binding on parties involved. And that also comes with some consequences. However, not only can NDA provide monetary compensation in the event of a breach, it also provide a kind of injunction relief to stop any further breaches from occurring.

And if this agreement is binding, how long does it last? The standard use for non-disclosure agreements ranges from 1 to 5 years, depending on the nature of the transaction.

The consequences for violation of NDAs are not actually specified in a non-disclosure contract. It’s clear that you can sue for the breach of contract, but there are no stipulated punishment for violation.

And in a case of violation, you are required to proof the cost of the violation and demand for a specific remedy, which has to be agreed to and approved by a competent court. But surely, it doesn’t include jail term, but usually resolved with financial compensations.

Conclusion

If you own a business, you can protect it today using NDAs for your employees that are vested with certain responsibilities that involves interaction with core secrets of your business. This protects you from these employees revealing trade secrets to a competitor upon resigning from your company or sharing sensitive documents they are privy to within a certain period after leaving the comoany.

And in this era of email and social media, documents can be transmitted faster from one person to another. That also puts sensitive business documents at risk. You may need to monitor every activity of your employees during and after work hour.

Also, you need to involve the services of an attorney to help you prepare the agreement and possibly oversee the signing as well.

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Grow Your Business

4 Steps to Start Your Company Launch In 2021

Do you want to launch your business? I have carefully modified the process into just 4 steps you should follow if you want to start an online business the simplest way. That means, it’s no longer difficult to launch your online business.

Think about this article as a guide on how to start an online business for beginners. A better way to launch an online business professionally even if it’s your first time to do so.

You don’t have to be internet savvy to launch an online business. It’s a simple guide to help even internet dummies begin their first online business successfully.

Types Of Online Business

To launch an online business, it starts with choosing the type of online business you can do. The options are many but you need to narrow it down to what you are passionate about.

The list is not limited and it’s still growing. More and more online businesses niches will continue to emerge. You can even create something new yourself. But for what is possible now and what you can start online includes:

  • Advertising.
  • Affiliate Marketing.
  • Blogging / Vlogging.
  • Creating and Selling Digital Products.
  • Dropshipping
  • Sponsorship
  • Selling Information Products.
  • Coaching, Courses, and Consultations.
  • Membership Websites And Membership Programs.
  • Selling Digital Marketing Services.
  • Freelancing And Virtual Assistant Work.
  • SAAS – Software As A Service.
  • Sell Handmade Goods.
  • Niche market e-commerce retailer.
  • Web designer or web developer.

{1} Start With A Plan

The first step to launch an online business is picking a niche market that interests you. It’s not just picking a niche. Pick a niche that also interests you. Interest is important. You shouldn’t be engaging in a business that really doesn’t interest you that much.

Even if you don’t have as much interest, you should at least have enough interest in that niche to wake you up every morning with enthusiasm. If the idea interests you, it will drive you with passion to make it work.

Also, the interest alone is not enough. You have to pick a profitable niche as well. Sometimes interest wane, but success helps to keep you doing what you do. And if you have both interest and success, imagine how far that would go.

So, it’s important that you ensure both your interest in the niche and it’s profitability. That’s your first step to launch an online business. Get it right and it will be a successful business from day one.

Tips On Picking A Niche Market

  • Use your interests and passions
  • Know the problems you can solve.
  • Who are your competition.
  • How profitable is your niche.
  • Put the idea to test.

Also, Entrepreneur Magazine has similar tips and it explained it in more details. Click on THIS LINK to read the whole post on Entrepreneur Magazine blog.

{2} Build Your Website

A website is your platform of choice when you desire to launch an online business. It’s okay to start either on social media or even sell on marketplaces like Amazon, eBay or Etsy. But nothing beats having your own website.

Your website is the perfect home for your online brand, identity and products. Although, you can skip having your own website but it’s a wrong move that will cost you in the long run.

So, it advisable to start from the on-set to build your website. That would include:

  • Buying a domain name
  • Paying for web hosting
  • And building a website

Your online business should any of the following :

  • A blog
  • An eCommerce
  • Or custom site, tailored to your business needs.

Your website should be built with your plan to launch an online business in mind. Whatever option you chose should form the design idea for your website. Some of these web design ideas can also be merged together. For example, you can have a blog with an eCommerce store attached. Or an eCommerce store with a blog attached.

You can also have a custom made site with either a blog or eCommerce or even both attached. So, whatever design idea you have, just ensure it’s first tailored to your online business niche idea before adding other design ideas as attachment.

Tips To Build A Website

Jimdo published 22 Tips for building a DIY website. You will find that interesting even if you don’t plan to build your website yourself. Listed below is just 8 of those tips. You can follow this link to read the full details on Jimbo website.

  1. Start with a goal for your website.
  2. Find inspiration from those who have gone before.
  3. Think about who your audience is.
  4. Take the time to create a site plan.
  5. Make your navigation menu fit on one line.
  6. Fill in your SEO settings.
  7. Invest in your own domain name.
  8. Choose a domain name that’s easy to spell.

{3} Launch Your Product Or Service

If you built your website based on your niche, you should have either a product or service or even both. That should prepare you for a launch. You need to make the product or service available to potential customers.

How to launch an online business is not entirely different from how you launch an offline business. The only difference might be the platforms and how you intend to advertise and promote the business.

As a new business, you need to plan your promotional strategy in line with your niche market. How do you intend to advertise your online business? Which platforms would you use? What should be your promotional budget?

A launch affords you the opportunity to test real life viability of your online business. You should be readily prepared to adjust, improve, remove and split test different segment of your market. At this stage your focus should be to test your niche viability. Go slow with advertising until you have fully tested your market to experience its viability.

Tips to Lunch A Product Or Service

  • Know your customer.
  • Plan your go-to-market strategy.
  • Create promotional content.
  • Prepare your team.
  • Launch the product.
  • Use Facebook and Google re-marketing

{4} Scale Up Your Business

Once you have a tested and proven your niche online business, the next thing is to scale things up. Your marketing strategy will determine how far it can grow. This is when you should map out good budget for your advertising and branding.

Understanding how to brand your online business will be key here. Also read: 10 Simple Steps To Brand Your Business. You will find simple steps to follow on how best you can brand your online business like professionals.

Having a great online brand is key to scaling any business today. Your brand Equity gives you some fringe benefits with other established online business. Apart from attracting lots of links from good PR sites, it will also boost your relevance and gain you some search ranking advantage with search engines.

Google and other search engines are shifting their search algorithm to favour brands over other online sources, as the credibility issue have become crucial to verifying the relevance of online information. So, building a good online brand is one of the best ways to market and scale up your online business much faster.

Tips to Scale Up Your Online Business:

  1. You should make it easy for your customers to buy your product or service.
  2. You should setup conversion funnels and track your conversion metrics
  3. Also, follow your defined branding process and consistently grow your brand
  4. You need to communicate effectively with customers using every source, especially setting up email automation sequences to nurture, promote and convert potential customers
  5. You also need to setup and maintain a consistent social media branding across all platforms.

Conclusion

Launching an online business is easier now than in the past. The 4 simple steps here further simplified the whole process. I particular advise that you understand step 1 and 2 and apply them well. They hold the key to the rest of your successful journey in launching an online business.

Finally, the best way to launch an online business is to start it small and scale it up when you discover what works for you. It doesn’t matter how successful an online business niche has worked for someone else, you may not have what it takes to make it work for you as well. So, sticking with what you are passionate about that’s also profitable is key.

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Grow Your Business

10 Simple Steps To Brand Your Business

As a startup, how you brand your business should be major in your planning processes. It’s something you plan from the beginning on how you intend to build your business brand. If you missed this out when you started, it’s still not late. You can start now using this guide to grow your business brand equity from scratch.

The concept of branding your business is a marketing practice of creating a name, symbol or design that identifies and differentiates your company products or services from others. It’s represent the symbol of your unique brand voice, from your mission to message and brand personality.

Entrepreneur explains that for a brand strategy to be effective, it must have a major edge in an increasingly competitive market. This edge is what makes your brand stand out from the competition.

Why You Should Brand Your Business

Branding is a promise your business makes to its customers. It’s the why of your business. And the reason customers should come to you, as an answer to their problems.

When you Brand your business, you give customers reason to trust you, see what you are offering in confidence, and entrust them with the will to use your product or service as promised.

Your brand need to speak the language customers understand that will make them believe in the promise of your product or service. And it’s your guarantee to that promise that it will not fail them.

Benefits Of Branding Your Business

  • You stand out in a saturated market.
  • It gives you credibility.
  • It can charge what you’re worth.
  • It leads to customer loyalty.
  • It leads to returning customers & referrals.
  • It leads to Consistency.
  • It helps to attract your ideal clients.
  • It saves you money and time in the long run.
  • It promotes you confidence level
  • It gives you a clear strategy

Step #1: Determine Your Target Audience

Your branding strategy starts with your target audience. They are the reason you want to brand your business. They represent the real brand focus; who they are, what they want, how they want it defines your brand building process.

The Identify of the target audience for your service or product is an exercise that will affect and benefit all areas of your brand building process, particularly market efforts. Who forms part of this target, where they live or spend time, there purchasing value and many more will be what drives this search.

Also, you want the right audience consuming your content, clicking through your ads, and opting into your email list. Focusing on the wrong audience or not knowing who your target audience are will effect negatively on how you brand your business.

Tips On Targeting The Right Audience

  • Compile data on your current customers, if any.
  • Use Facebook lookalike to identify similar customers
  • Use website and social media analytic
  • Check out the competition
  • Be clear about the value of your product or service
  • Create a target market statement.
  • Test social ads on your target market

Step #2: Establish A Brand Mission

Your brand must have what it stands for. If customers are going to trust you or patronize your business, they need to understand your brand mission. Who you are, what you do and how you do them, are important in brand building.

This is your why: the reason you get up everyday. And before you can build a brand that your target audience trust, you need to know what value your business provides. What exactly will your customers be exchanging their money for?

This mission statement basically defines the purpose for existing. It will inform every other aspect of your brand building strategies. And promotes your value to potential customers or clients.

Tips to Write A Mission Statement

  1. Make it short and concise.
  2. It’s not an essay
  3. Think long-term
  4. Don’t make it too limiting
  5. Don’t be afraid to change it.

Step #3: Research Brands Within Your Industry Niche

If you are always thinking about how to make a brand stand out, don’t skip this step in brand building process. To brand your business, find out how other brands did it before. Start with identifying other brands within your industry niche.

Research your main competition or better benchmark their brands. How your competitors are building their brand may give a clue to how to brand your business in your niche. Especially if you are building your brand yourself and know little about branding.

For instance, study how they have gone about building their brand name and who they are targeting. Those information hold the key to how you can brand your business better.

Step #4: Outline Key Qualities & Benefits Your Brand Offers

You should give customers the reason to choose your brand over another competing brand. And that’s what your brand key qualities gives you advantage to do. Your brand benefits speaks to the target audience about what they would gain from interacting with your brand.

It’s important to note that this is not just a shopping list of features your product or services offer to the customer or client. It should be the questions that customers want answered about their needs.

Think about how you provide value that improves consumers lives – in the outcomes or results that are experienced. It should point customers to a better life, solved problems and the kind of fulfillment they desire.

What are the best expectations of your target market that your brand provides? That’s what your best qualities and benefits should offer.

Step #5: Create A Brand Logo & Tagline

What probably comes to mind when you think about how to build a brand visuals? The logo is like what brand is and remains to most people. Once they have a logo they feel branding is complete. That’s partially true, even though logo is an integral part of overall branding process.

The logo is the key part of how you brand your business. That’s the visual representation of your brand. It’s what most people use to identify your business. For most part in branding, nothing is branded without a logo.

This step may be the one where you need help with execution. You will need help designing a professional logo for your branding. Although, the are several platforms online where you can get a great logo. But having a professional logo may require help from an experience brand expert.

This logo will appear on everything that relates to your business. It should be done by a professional who should also understand your brand strategy, target audience, brand message, voice and personality.

Your logo will become your identity, calling card, and the visual recognition of your promise. And that’s why it’s a lot like the most necessary thing to do to brand you business. The logo maker I recommend is Logogenie.

Tips for Brand Logo Design

DesignHill gave a 9 point tips on how to effectively create a logo design. Even if you are not a graphic designer, this tips will guide you on what’s should form your logo design concept.

  1. Know the brand.
  2. Reflects on the Nature of your business.
  3. Impression Matters.
  4. Use colors in a planned way.
  5. Pick fonts carefully
  6. Chose the type of Logo
  7. Keep it simple and impressive
  8. Make it scalable.
  9. It should also look well impressive In any colorless version or shape

Step #6: Form Your Brand Voice

The main reason you should brand your business is to give it a brand voice. Your brand voice is dependent on your company mission, audience and industry. It’s how you communicate with your customers and how they respond to you.

It’s actually what would help you maintain a brand consistency across all platforms and formats

A brand voice could be professionally friendly, service-oriented, authoritarian, technical, promotional, conversational or informative. Find what’s your brand voice and stick with it in all your brand process. The consistency of your brands voice is what sets you apart from the crowd.

Tips to Define Your Brand’s Voice:

  1. Create unique and impressive words to your brand voice
  2. Create consistency in every bit of content and copy
  3. Increase your brand’s voice through proper channels
  4. Walk your talk.
  5. Consciously grow and adapt

Step #7: Build A Brand Message & Elevator Pitch

A Brand message is an opportunity to communicate on a human level. What this means is that the language you use should be understood immediately while striking an emotional chord. Make your brand message simple and clear.

If your target audience cannot understand your brand easily, then your message isn’t helping your brand. The focus of your brand message should be to convey to your target audience their need for you.

If they can’t find how your brand would benefit them, your message is not communicating to them.

Tips to Build a Brand Message:

  1. Define your brand values
  2. Differentiate your brand from the crowd
  3. Make it appeal to your target audience
  4. Build an impressive message
  5. Make it resonate throughout your communication

And if you are building a brand to also attract investors, you will need to create an elevator pitch. The investors would need to understand your brand message and conviction to deliver its promise. But the pitch would resonate more with investors if its backed by a strong brand focus and not just on your promise.

Tips to write an elevator pitch:

  1. Start by introducing yourself.
  2. Provide a good summary of your promise
  3. Explain what you want from the investors
  4. Finish the pitch with a call to action.

Other things you need to know about elevator pitch includes:

  1. Take your time. Don’t rush an elevator pitch
  2. Make it conversational, and provide them with an alluring sense of agreement
  3. Pitch common and general ideas. Avoid niche words and phrases.
  4. Express brand confidence. Pitch your success on a strong brand equity.

Step #8: Let Your Brand Personality Shine

If you are wondering how to brand your business in a unique way, make your personality stand out in every aspect of your brand building process. Let this uniqueness shine through out your brand points.

To brand your business you need to infuse that your own unique brand personality. What’s that unique advantage you have that characteristically make you stand out? The role of your brand personality is to give it a uniqueness that no other brand can easily copy.

And you should also be consistent with this brand personality across all points of contact.

Types Of Brand Personality:

Investopedia gave us five main types of brand personalities with common traits. And they include:

  • Excitement: carefree, spirited, and youthful.
  • Sincerity: kindness, thoughtfulness, and an orientation toward family values.
  • Ruggedness: rough, tough, outdoorsy, and athletic.
  • Competence: successful, accomplished and influential, highlighted by leadership.
  • Sophistication: elegant, prestigious, and sometimes even pretentious

Step #9: Integrate Your Brand Into Every Aspect Of Your Business

The brand building process never stops. That’s one thing about branding. You keep branding your business for as long as the business exist. It’s not a one-off thing to brand your business. You keep building your brand, and as the business expands your brand strategy expands with it.

Your brand should also be visible and reflects in everything that your customers can see, read and hear. The louder your brand coverage goes, the more customers it attracts with it.

For instance, if a client walks into your store, your brand image should on display both in the environment and with personal interactions. Your brand should breath on everything you do, as far as your business is concerned.

Step #10: Stay True To Your Brand Building

Consistency is key in branding your business. But if you choose to change how you brand your business, let it be only into something that’s more effective. And it should be based on a measured consumer response.

Once you have chosen a brand voice, use it for every piece of content you create. Your brand content should be consistent, and should reflect in all formats of your branding process.

Document all the brand guidelines you create and distribute internally for reference. This will help to align everyone who’s ever going to be responsible for your brand to follow same strategy, design and formats for your brand.

Tips On Brand Consistency Building:

  1. How do people see you?
  2. Build your online platform.
  3. Weave your brand into everything you do.
  4. Be consistent.
  5. Don’t try to please everyone.
  6. Create value.
  7. Align yourself with strong brands only
  8. Follow strong brand-building awareness.

Conclusion

A brand identity is your marketing foothold in your niche market. Branding your business is the best form of marketing. But branding is not just marketing. You brand your business to give it a voice that defines your marketing plan.

And to not brand your business is a grave mistake that you shouldn’t let happen. Unless your business is meant to serve for just a season, branding preserves your business efforts for years to come.

Branding is more than just designing a business logo. Although a logo plays an important role in all branding process, but it’s not all about what branding represents. You need a great logo that will stand you out to make all your branding efforts worth the investment.

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