Do You Know Why Businesses Fail In Most Townships?

Here are some reasons that might help you improve your business!!!

I live in the township called Mamelodi and visited few before. Guess what I have realised?

Most of  entrepreneurs especially small business one’s don’t get enough support from the community and that is not the only reason. The other reason is that most townships  and not just Mamelodi have a lot of people who are unemployed which causes poverty.  For the fact that they are not working, they won’t be able to afford. The other thing that entrepreneurs need to consider is negotiation. Of course you are in business and want to get an income out of it, but at the end of the day this is not only about you.

You need to learn to negotiate with your customers. For example, I came across many people who does not sell to customers who does’t have enough money to get what they need/want. If I were you I’d sell them what they want knowing that they will keep on buying from me whether they have enough or not, but this does not mean you are loosing you are actually gaining customers and customers should’t take an advantage over you. Don’t ever let that happen to you…

Build and maintain a good relationship with your customers and always make sure they’re happy. A good relationship is when you’re keeping that smile on your face…make sure you don’t frown you will scare the off!!!. Business is not just about selling products and getting money. It’s about selling the right product to the right people. What I have learned at college from my marketing class is the four P’s (price, product, promotion and place). Meaning that when you start a business make sure you have the right price for the product. It must not be high or low otherwise they won’t buy. Quality is best to determine the price for your products. Sell the right product to the right people. Make sure you sell what they want or like. You must know who you are targeting, know your people!!!. Make specials sometimes that suits your business. If you sell sweets for example let them buy two sweets for a price of one. That is called promotion. Find the right place. A place you know you will find customers all the times.

Try this and you will never go wrong!!!

By: Fortunate Machaba