#Business: Business Tips For SMEs // 5 Tips to Successfully Engage in Small Scale Retail

 

SMEs in Nigeria

Hey guys, it’s been a hot minute, I know:)

Life has been busy, but it has given me ample opportunity to observe and conduct research on small scale retail,  facilitated my interactions with small business owners and has  had me enthralled, thrilled and enraptured by all my learnings. These simple learnings gleaned will ensure that you, my wonderful reader are able to apply to  your retail business. They are basic tips to managing your business daily to ensure little foxes do not spoil the vine.

CHANGE
Don’t allow customers owe you change. This is a really bad idea, and you do not need to let it get to the point where you have memory issues, and you keep having happy conversations with people owing your business money:( Nah.

EDIBLES

When you manage edible retail products, it is not a good idea to allow people randomly touch your edible products  without getting into an oral contract on the sale of those products. Better still, set aside a small amount of your products to be used as samples.

PRICING AND NEGOTIATION
Know how to set prices for your products, even for returning customers. Don’t give them ‘Ara-ile’ price or get comfortable with them. Be very firm with your pricing, and even when you are utilise the commonplace negotiation styles. Always pre-plan all your negotiation options.

Related Post: #Fashion: 4 Strategic Business Tips To Running Your Boutique Successfully

BRANDING

When you do things like gently letting customers know that you do not sell inferior quality goods, as well as always having a positive disposition when you interact with them, you are building the brand, good will and reputation of your small business.

Related Post: 5 Customer service tips to garner goodwill for corporate brands

PROACTIVITY
Be super sharp generally when it comes to your business. Do not ever be absent minded; instead, always be on the alert for new customers and be proactive in your approach to finding them.
If you sell drinks for instance and you see passengers alighting from a vehicle or something, ask what kind of drink they would like. You do not necessarily have to wait for them to come to you.

 

 

And this concludes my tips on successfully engaging in small scale retail.

 

Please let me have your comments:)

 

Advertisements

3 Comments Add yours

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.