What scarcity is to economics is what competition unavoidably is to Business. So, it demands tremendous Effort, Focus, and Discipline [EFD] to do the things necessary to attract the SCARCE money of Clients/Customers towards patronizing your goods and or services. So again, the search for PATRONIZATION or CUSTOMERSHIP is no joke and shouldn’t be taken lightly anytime, anywhere for now and for a lifetime. Coke-Cola, Banks, Apple, HP, Electricity Boards (in spite of their monopoly in Nigeria), etc., still look for Customers/Clients. It’s a lifetime search.
Why?
(Now follow intently)
They look for Customers NOT only to sell, or survive BUT to THRIVE.
Why?
You thrive to COMPETE. You don’t compete as a survivor or seller. No survivor-level person or corporate competes in any game of life whether it is politics, academics, sports, entertainment, or business. You need to be THRIVING to compete, to pose a threat or challenge to an opponent or a contender. A survivor is one struggling not to go into extinction, to stay alive the next minute or day. He’s not bothered by challenges and talks less about leading. A THRIVER is a contender, a competitor.
Why?
To LEAD.
Why Lead?
Perhaps, I answer you by giving you an assignment. To know why it’s good to lead;
+ go and ask Coca-Cola what it means, the honor to determine what happens in the soft drink industry.
+ go and ask Microsoft what’s the happiness in leading in Operating System and Office Suite software cum software industry
+ go and ask Apple what happened in the technology world to being the world’s most admired company
+ go and ask MacDonald what it means to be largest fast-food company and the leader there
+ go and ask the substantive leader in your village what honour it means to lead
+ go and ask APC what it means being the ruling, sorry I mean American Power Corporation (Stabilizer) in power.
+ etc.
The first Discipline of Business Success for businessmen (I don’t mean traders, listen now) IS to offer a product/service that people (not you) WANT, NEED, and WILL pay for a price they will accept. Not just a price, but a price COMPETITIVE with every other business that wants the same Customers’ Naira.
Every time there is a little increase in fuel cost, change in economy or policy, prices of goods jump in Nigeria, and at no time has any price come down. This never happens like that overseas. No PURE Economic, Management, and Business principles take place here but are adulterated.
+ Business persons don’t manage costs in order to stabilize prices
+ Business persons don’t understand COMPETITION and don’t take advantage of COMPETITION in their product/service MIX.
+ Business persons are not ETHICAL with themselves, the product and service MIX, the business, and the company they represent.
+ etc.
You must be completely honest to ensure that you’re not assuming being in business when you’re a trader. This is an area where false assumptions or incorrect conclusions can lead to Business Failure.
Solution
This calls for CONTINUOUS investing and reinvesting in learning, knowledge, and development to be COMPETITIVE.
Mike Ihezuo has been helping business leaders succeed and thrive in a volatile, uncertain, and chaotic economic environment. He’s better heard LIVE than advertised. Your team needs to hear him.
