This is one area I enjoy discussing with startup business owners. It interests me and catches my fancy almost anytime. Maybe because I’ve had to deal with so many business names during my Entrepreneurship Development trainings for business owners
There are names and there are names. Let me say.
I’ve heard names that made me check ten times if my eyes were still working well lol 😆.
Have you heard a business name that didn’t sound like what you thought it should? Or let me say you heard the name and had another business in mind? It’s like naming a child with another culture’s name. Or like in my yoruba culture in Nigeria. Only twins can be called “Taye & Kehinde”, now imagine you meeting someone who says his or her name Is Taye. And the person isn’t a twin?
Now you get it. I suppose.
Watch this short video in the link below to hear my tips on choosing business names.
If you’ve not been in this shoes, and you own a business in naija I must say – Una Wehdone o.
I wish I could say may it never happen to you. But, knowing fully well that success stories comes with a lot of sides we don’t want to share with the public. I will say, what for it. Its not a curse, its the reality.
What happens when such things come up.
Okay, as a consumer and customer to other businesses, I will say no one is at fault really. Its always a battle of one side vs the other.
Either the client is the one at fault, trying to give the vendor a bad image due to some reasons known to them alone.
You will be surprised, some business owners set customers against their competitors in the name of pulling them down, for them to rise and shine better.
Same way, sometimes it’s the business owners who take up jobs they clearly can’t deliver and call for these unnecessary dragging.
Then we have these instances when no-one is at fault, but the 2 parties just can’t clearly understand and manage the simple situation till it gets out of hand.
Have you been there? What did you do?
If you ask me, oh yeah I have been there and in all occasions, I’ve ensured my part is well delivered to a good level of justification. The clients of course may not accept but I want a case where you hear the story and I can boldly say- I did my part.
I happened to work on a project a while ago which involved a 3rd party organisation. Things happened, clearly out of my control and the affected people were threatening fire and brimstone. I just dey observe, did what I could and left the rest.
Should this push you out of business? Of course NO! You will likely face more troubles, they are the hurdles you cross to get to the top.
Just be fit and good to go. The more you scale, the better you get at managing your business.
Have a productive weekend.
Follow me on Instagram @dgvstyles @ibcityfashioncollege
Let me start by asking how is your business going. For those planning to start, what are the steps you have taken?
How far have you gone with your business plan? Your growth plans? And startup plans? Note I have an economy coming up that will help you get this done in simple ways, as simple as ABC. I’ve penned down how I started and I am sharing it all with you in the books. Watch out.
Today, we’re talking about choosing a name for the business. For existing business owners, you may want to take a second look at your business name.
Does it need adjustment? Is it just okay the way it is for now? Don’t put yourself under unnecessary pressure if you are not yet sure. Take your time.
It’s a common thing to see business owners combine their names into acronyms to make a business name, or put the names in the family together to form another name. This is a good idea as long as it sounds good and not too long, difficult to spell and pronounce.
The name you will choose for your business is the name you want to be called. Don’t rush to select.
Consider how far you want the business to go. What is the vision? The end goal.
Your business name is unique, and your clients must be happy to relate with it.
If you choose a name that doesn’t relate to your business, people may get a wrong interpretation of what you represent.
Search for keywords in your industry. And work around it. I’ve seen people use beauty lingo in the fashion industry. It may sound okay, but the first impression customers get may mislead.
Let’s take an example
These 2 names belong to a fashion house. To the best of my knowledge, the first name sounds like a makeup business or a hair/ beauty business.
The second name is simple and general, could fit anything. This is an idea of how your name can mislead your audience.
Don’t choose names because you heard someone using it. Sometimes in the spirit of competition, I’ve seen business owners coin name close to what another person is using. It could be out of admiration. If you find yourself on this seat, try to be unique. It’s part of what you want to do.
Copying makes you lazy intellectually, if you don’t task your creativity, it won’t task itself. Carve out a niche for yourself with your business name.
For global brands, products or services- consider your foreign clients too. Simplicity does it.
Your business name will keep being on people’s lips. Don’t take it with fingertips.
Another issue is religion – for those who get over religious with business names. Its okay, it is a personal choice. But ask yourself, is your service, product or brand for some kind of religion only?
If not, you are already creating a demarcation which will affect the business growth.
Take a short time and review your business name.
Search for industry keywords.
Search for keywords in other languages, some languages have beautiful interpretations that are so easy to pronounce, spell and they sure sound exquisite.
welcome back to ,my blog and i am Aderonke Olubanjo, the Principal instructor of a leading Fashion College in Nigeria, an EDI (Entrepreneurship Development Institute) for the Central Bank of Nigeria under the AGSMEIS scheme, i am also a Unisex Fashion Designer – cap with many feathers right? well, it all started one day and with just one step too.
I get asked a lot of times about how i started, well, i started with just 1 step. when people say they started from zero, i pause to think, really? nah… we just call zero like that, its not really zero, everyone of us started with one step, it could look like nothing to you, but you bet it, its 1.
it could be as small as a decision, an interest, a thought, a plan, a wish or even something you like about someone. That’s your step 1. I started with that step 1 too. if i did, you can too.
If you are thinking about starting your own business now, no matter what field it is, let me just drop some few tips for today.
What practical steps have you taken to analyze the problems in your field? the problems are there, and you will need to look at them critically. How can you solve them? if you only look at the juicy parts of the business, when the cloudy days come, they will shake your stand.
Have you also sat to ask yourself how much exactly you will need to start the business?
if you have a mapped out vision board, this is where it comes to play.
what does your dream business look like? I strongly believe in the “Big Picture” If you don’t have it, your focus might be shifting here and there.
The Big Picture guides your steps as you build the business from day one, it makes the navigation easier.
WHERE SHOULD I LOCATE MY BUSINESS?
let me just say – Where you are wanted / needed.
don’t put your business where the competition is too tight or choky and unhealthy.
You need a good plan that is practicable. not some adopted resources that works for someone abroad, can it work in our own business environment?
Don’t rely on resources alone, can it work where you are?
Are you ready to give it all it takes. the ride has not been smooth and jolly for me, nor any other business owner you know. It takes a lot to start and a lot more to run it.
Your customers are the currents driving the business. Without them, nothing is happening.
This is why you should take them as important as you take the business itself. Having them seems easier than maintaining them, in my years of experience.
They come with their differences, thus, you need to find a way around handling their differences, and not giving your business or yourself more problems. “As much as you try, you cannot keep or satisfy them all – just keep doing your best daily”
Let’s start with this question, if you can answer it, we’re good to go.
Do you know who your clients or customers are?
If you don’t, take a pause and define them first. You don’t want to be shooting at no targets.
Knowing who they are and where they are is one of the steps to growing a successful business.
Let’s assume you now know them, how do you retain them, maintain them and attract more? Let’s dig in….
1. Do you know what they want or need?
What are they looking for?
Don’t sell what you want to sell, sell what they want to buy.
Many business owners are concerned about their plans alone, any plan you make towards making profits without considering your customers, will ne a hectic task. Your business centers around them, rememeber.
In your line of service or products, look around at what others are offering- which your customers have already seen, then look for what might be missing that you can add and attract them with.
If your business isn’t solving real problems for them, they will only keep looking, checking you out without results.
2. VALUE YOURSELF AND YOUR BUSINESS
Making your knowledge look cheap won’t attract customers that will help you add value to it. They will approach you and deal with you the way they see you.
If you dont value yourself, how do you expect them to?
Your confidence should speak with each step you take . Shaky confidence is what makes many good business owners hide their faces and the confident ones with lesser skills will keep showing up and cashing out.
Work on yourself!
3. INCREASE YOUR VISIBILITY
Get your business visible, clearly noticed and seen.
you can have great strategies, great products, not getting it out is like hiding under a canopy or an underground store.
Marketing is not an instant yeast. It grows with continuity and constant development.
Get your business noticed an many platforms – radio, social media, billboards, all search engines you can come by, networking etc.
Your brand identity plays a major role in your business growth. Many things add up to this.
Your name, colours, logo, office space, business card, so many. It depends on how you start it, just start somewhere.
Create some uniqueness for your brand that will get you noticed quickly when you appear.
And remember you are a walking billboard for that business. What messages or information are you passing on when you leave for work, meet people, when they walk into your office, when you post online, etc.
5. QUALITY CUSTOMER EXPERIENCE
In business, customer experience ranks your business. Word of mouth advertisement is one of the most effective ways of getting known, and this can only come as a result of quality customer experience.
It births good referral without you paying a dime.
How can they have that experience they want to share with the world with you?
It could also come in many forms. –
Reception- the way and manner you receive them and make them feel welcome.
Prices, Discounts, Pro Bonos, Extras, Gifts and a whole lot more.
Good customer experience is a win one win more strategy.
With these few tips, you can get some immediate results in few weeks. Give it a shot.
Ibadancity Fashion College is a leading fashion and Entrepreneurship college in Nigeria.
A CBN/NIRSAL certified Entrepreneurship Development Institute.
We offer all fashion related courses and Business development classes specially designed to suit each business. Either in group sessions or one on one consultancy sessions.
It’s the season of uncertainty and many business owners are feeling the pinch. Of course you have been thinking of ways out this season. You have considered dropping prices, doing sales or discounts, a million thoughts are crossing your mind daily on how to get a way forward.
It may be about Covid 19 or before and after it, you will come to that crossroad at a point in your business. But before deciding, sit back and consider these few points.
Lowering the prices and how it affects your business
Before you fixed a price, you have done the calculations of your time, materials used and profit before arriving at a price. If you lower the price, will you be eating into your profit or not? If you are not making enough profit, you are eating the business up gradually.
What if customers get worried about the quality of what you offer?
One of the dangers of too much or too often discount or sales is that your customers may think twice about your original prices and the quality of your products or services. If you personally see a very beautiful product and the quality looks really good but thebproce appears low, do you know you will think twice about the quality?.
You don’t want your customers thinking twice before purchasing from you or thinking your products are made from low quality materials.
The impression they get first,stays with them longer
Don’t leave first customers with the thought of ever doubting the quality of what you are selling or doing. They may never come back.
Your workspace should look attractive enough to worth the price you are charging. When the office environment doesn’t match the price, it affects your business. People generally attach value to what they can see.
Not having enough sales doesn’t always have to do with economy, if it does, then nobody is making money. But if you look around, in the midst of economic distress many businesses are making their profits still. This is one of the reasons you can not take your business front desk for granted.
Front desk is relative, could be your receptionists, secretary, showroom, reception area, the person who picks the phone calls or replies messages on emails and social media handles. They must not be the reason your sales are dropping.
Make your business attractive enough to keep customers coming back. Then you won’t need to be doing unnecessary price drops in the name of attracting more customers.
Your business development strategy is unique to your business. Research, consult, do your part and watch stress reduce while sakes grow.
Follow me on Instagram @dgvstyles @ibcityfashioncollege
For business development/consultancy services. Whatssap +2349024267637
IBADANCITY FASHION COLLEGE is a leading Fashion and Entrepreneurship Development COLLEGE in Oyo State Nigeria. A Central Bank of Nigeria CBN certified and accredited Enterprise Development Institute assisting business owners access funding from CBN /NIRSAL.
For more information and enquiries call +2348081067070
Having a personal business and not having a compulsory 9-5 was a dream, I loved it, and for anyone who likes independence, I believe we are on the same page. Then after a while I realized that the path of Entrepreneurship and business is not as juicy as it looks from afar – Says Teetee a rising entrepreneur in the food and confectionery industry.
Those who hate their jobs quickly find comfort in deciding to start a business. And if I must say, It is quite risky to step into an unwalked path without a guide. When people say they want to start a new busines for the first time, the first thought in my head is, why not juggle it alongside that job until you find a balance point. It is quite easier for people who had been in the business of small businesses to keep starting and working on new startups until they find a Gold spot, than a complete newbie who believe he or she can base their decisions on the results of the business owners they are seeing.
A tree should not be judged by its leaves and trunk size, you didnt see it when it was digging the roots in.
WHY DO PEOPLE CHOOSE TO BE ENTREPRENEURS?
One major reason is because they admire other entrepreneurs around them. You want to be like they lady or guy who looks like he or she is making so much money from that simple job they are doing. Simply put, Successful people inspire others to be successful; but they works lie with the inspired people- are they seeing beyond the surface?
They have so much hope and faith and just somehow believe all they need is a huge capital and the Boom starts. They even believe they have more business sense than other business owners around them, and they see more prospects in their own success more than what they are seeing in the people inspiring them. “If A could do it l, I was more brilliant than her in school, I can definitely do better”
Until you get into the water. Never think you are a good swimmer.
NOT WANTING TO BE BOSSED – Is another reason many chose Entrepreneurship and this is one of the bad reasons. When you don’t want to be controlled, how do you plan controlling others? Being bossed around can be annoying and ego-hurting, but you can work your way around this and learn instead of resenting the boss. Entrepreneurship makes you a boss to others too, you don’t know the type of boss you will turn out to be in a heated situation. If you want to be the one with the final say always, then leaving your job for the business field may give you loads of hiccups.
If you are choosing to start an Enterprise, know you are choosing to take so many risks and uncertain routes. Evryone is a good dancer on the seat until they hit the dancefloor. Look beyond the surface, look beyond the ‘sold out’, look beyond the Instagram swags, look beyond the status they are showing you they have. Look deeper beyond the facade, if you jump into a water too deep, and you can’t swim good enough, you know the results.
To know more about our Entrepreneurship classes, visit the college or contact us on +2348081067070
IBADANCITY FASHION COLLEGE . Unisex Fashion and Entrepreneurship College. We are a CBN/NIRSAL ACCREDITED EDI assisting business owners in getting msme loans to fund and grow their businesses.
AGSMEIS Is meant for all business owners. Start up or existing. You can loan up to 10 million naira, with 6 to 18 months Moratorium and a 9%interest for 5 to 7 years. To apply. Contact us for more detials. Many business owners can testify to it now, join them too.
Everyone is up on their list for the new year, how to make more sales, develop their businesses better, have overall growth.
But, we all know it doesn’t happen easily as envisaged, especially when the surrounding circumstances are not in your power to control.
As a small business owner, you get yo face lots of challenges. You need to constantly keep your eyes out for improvements, if you do not want to be shaken out of the market.
If 100 people start a small business today, 80 makes it to the first year, the 20 will drop out on the way due to different factors. 50 or less will make first 5 years, and the journey goes on….
Invest quality and significant time now to ensure your business will not just stand out from the pack but also stand the test of time.
Find out more ways to do whatever you are doing presently. Don’t do it the same way all the time. There are stages, especially if you are at the peak of the business or market, to avoid a drop, re-PEAK. Find out more exciting things you can introduce to make it entice more people.
Be sure you are providing your customers with products or services that will keep them coming and bringing in referrals.
wishing you more wins and more success records in the new decade.
IBADANCITY FASHION COLLEGE is the Leading FASHION COLLEGE in Oyo State. We offer entrepreneurship and all fashion courses. We are a National Certified and Accredited EDI by the Central Bank of Nigeria CBN. We are affiliated to major foreign schools assisting you in pursuing your dreams. Register today and enjoy many benefits we have to offer you.
Address – behind ibedc office Ring road ibadan Follow the road beside FOODCO RING ROAD IBADAN.
as an exisiting entrepreneur or maybe you are still aspiring to be a business owner. if funding has been a major clog in the wheel of your goals, this information is just for you!
the Central Bank of Nigeria and Nirsal MFN came up with the scheme to assist you get your business starting and running. and the scheme is open to you!
how? you ask. not in any way difficult.
first let me give you the juicy details of this funding scheme.
it is a collateral free loan. meaning, you do not need to run helter skelter looking for house or land papers etc to present to your banker.
it comes with a moratorium of 6 to 18 months depending on your business type. (moratorium means the grace period of no pay-back)
you can repay for up to 7 years!
the interest rate is what you can only get here. it is 5-9%
now you see it is indeed a plan to boost your business.
WHO CAN APPLY?
Agricultural businesses, Manufacturing and production industry , Construction industry, Health sector, formal and informal Services (Hospitality, Restaurants, Catering, Services, etc), ICT, oil and gas/ Mining, Creative Industry (Fashion, Beauty, Media, photography, Entertainment, etc), Petrochemicals. And more…..
so how do i apply?……..
IBADANCITY FASHION COLLEGE is a leading fashion and entrepreneurship college in Nigeria. as a CBN certified EDI, you can apply for the loan with us.
call or contact us to verify if your business is covered.
register for the REQUIRED Entrepreneurship training with us. – the certificate is the major requirement to access the loan.