Question

(A) Mr. Obenten is an owner-manager of a small business, which started some few months ago. He is contemplating on how he can plan and sustain his business growth. As a business growth consultant, discuss the three (3) things he needs to do in preparing for his business growth.                                                            

Answer 1

Mr. Obenten is an owner-manager of a small business, which started some few months ago. He is thinking to sustain his business growth and be it going concern business. With increasing competition and huge customer preferences, today business owners finds it challenging to satisfy customer. Now customer is King Pin of the market.
As a Business growth Consultant I will share 3 important points which I always give it to my clients as well as I am applied in my business growth.
The 3 important Points which are as follows:-
1)   Know your Customers - Businessmen should know customer tastes and preferences very well. They should not take it lightly way because today customer is very demanding. If they don’t satisfy with the needs they will shift to your competitors. So business men should frame their product according to their tastes and preferences. Other important things businesses should analysis what Age Targets you are going to sell. If the age target is Youngster so businessmen should design like youngster or if it’s elder people, then it should target according to their tastes. So age, location, customer tastes and preferences also matter. So Mr. Obenten want to manages his small business, he should study customer preferences by taking proper feedback and stock goods according to customer needs.

2)   Customer Services - It’s been seen if a customer comes back again if they satisfy with the services provided by the business. So business men should focus on customer services of their products while their buying. The main things here I want to highlight is after sales services, many business try to ignore customer, after the customers buy their product, if the product became defectives and they doesn’t get services. So businessmen should consider after sales services by giving them warranty, services team and other replacement. For E.g. - Amazon has better customer services so its world no 1 online company, where millions of people buy product from them. So Customer services are the 2nd important things in the growth of the business.

3)   Media Platform – In older way Word of Mouth was only medium to get popularity, today also its one of the medium, its limited to one locality, but with the Social Media you can influences around the globe. Today people using social media not for chitchatting but also buying product. Various Bloggers in Social media promote various business in their channel, which gave good publicity and also bring huge success. So Mr. Obenten should promote his business on social media and let the people know what is the unique in his business, what offers he is giving. He should make attractive page for social media, he can take help of professional team and invite different personality in his business to promote his product.

Conclusion – There are many other important point to grow business, but above 3 main points where as a business consultant I always say to my client first try to notice these 3 above points for success of a business. I would request MR Obenten need to be patient if he want to succeed because business run on trustworthy, quality and customer satisfaction .