By Jaluum Herberts Luwizza. Twitter_@jaluwizza Tel:0787555919 ..
Most small business owner's biggest challenge is how to grow their business overtime from scratch into a big business empire. It's not a secret to many start businesses but only few manage to see them grow both in value and volume in a sustainable and profitable manner.
Business growth has two attributes to it that's to say growth in volumes (numbers: of sales, employees, clients e.t.c) and value (the amount of money made by the business and share/stock value). All businesses are started with the core intention of making money.
I know very many times you have heard some business owners or entrepreneurs say it's not about the money and personally I think it's the biggest lie ever told in the business world. Whether directly or indirectly, business is about making money by providing solutions to people's problems in form of services or products. So it all boils down to making money some how.
So if everyone starts a business with the desire to make money at the back of their minds, how then can small businesses attract bigger client who bring is bigger business (more money). I have been in the business consulting world for a while now and know which clients bring real tangible growth and thats the big companies. The money a small business owner in kikuubo will pay for consulting isn't the same as what MTN for example would pay. If you’re a carpenter, the amount of money an individual will pay for a chair won't be the same say a bank would pay and the quantities also won't be the same.
I love likening the market to a swimming pool that has a shallow end for the young ones and starters and the deep end for the seniors and professionals. The shallow end of the market is made up of mainly individuals, start-ups and small companies whose consumption and spending power is low while the deep end has government, multi-national companies, international organization and big local businesses with high spending power and large consumption abilities.
The question then is how does a small company get itself swimming in the deep end of the market!?
The first rule for playing with the big boys is look big yourself. Do what the big boys do. Image is everything so package your self well right from your business cards, website, social media activity, flyers and brochures. The second thing is being organized. There is a reason these business entities are called organizations so organize your self too. Being a small business doesn't mean you should think and act small worse still be disorganised in the way you do your things.
Make all your transactions formal ie ask for business by writing a letter Of interest, put all your proposals in writing, be ready to accept any form of payment ie cash, cheques,credit cards meaning a business bank account is a must have. Be prepared to issue cash receipts, invoices and delivery receipts.
This can only mean one thing, formalise your operations because most of these big companies have internal control systems that make it impossible for you to transact with them without most of the requirements I listed above besides there laws that also bar them from doing so.So that's what you need to do before you even start approaching these big companies and trying to interest them into doing business with you. When you have your house in order then start reaching out to them, the big business/monies will start coming.
Jaluum Herberts luwizza is a writer, Speaker and Business consultant with YOUNG TREP .