You have that gut feeling that this business
idea you have can be the world’s next big thing,
like M-PESA or Facebook? Here are a few tips
to get you on the right path to that earth-
shattering business concept!
Create a product or service people want to buy
If you want people to buy what you have; you
had better make it worth their while. Your
product or service needs to add value to your
customer’s life. It needs to offer your
customers a solution to a problem they have
now or may have in future. This value is what
is called Unique Selling Proposition (USP).
What will make your customer pick your product or service over your competitors
Find ways to keep initial costs low
Yours is a startup, so we know you can’t “make
it rain” yet. You are operating on a limited
budget, but image is everything, so you cannot
afford to meet your clients at a rundown
restaurant. There are several workspaces in
Nairobi that hire out space from as low as
Sh5,000 a month or Sh2,000 an hour – the
choice is yours. You can organize one day a
week to schedule meetings in the hired
boardroom. If you prefer a monthly package,
you and your team get to use a shared work
space.
Give value, not discounts
Just because you are young and seeking
business does not mean you should bow down
to the requests of the “big boys”. They know
the market rates of the services you are
offering. Set your pricing against an industry
standard and create your unique service
offering and value add. For example, if building
a mobile application costs Sh70,000, and your
costing is at Sh90,000, instead of simply
stating application development, you could offer
an additional after sales service for that
application, which then justifies the extra
Sh20,000.
Sales and marketing is your lifeline
If you are not talking about your product/
service, no one will know you exist. You have to
do the hard work, attend networking meetings,
workshops, make office presentations, send
numerous emails and newsletters and make
cold calls. You have to do the foot work. Over-
reliance on social media and online hype alone
limits your product. If you want people to buy
your product, you need to go to them and
preach the gospel of your product.
Research! Research! Research!
If you want to be on top of the game, you have
to research! You need to know what everyone
is saying about their experience with your
product, from the man on the street, your
primary consumer, to industry competitors and
players – good and bad. Look at any research
data you can find, Facebook stats, Google
analytics – all that counts. With this
information, you are able to adapt to the
market needs and changes. Not all information
will be constructive; take what you need, adopt
accordingly and watch your business grow.
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