Question

a young entrepreneur has identified a new business in nigeria how should he go about it and what neccessary steps should he take and explain them

Answer 1

As a young entrepreneur, a new startup business is crucial, and it requires a lot of hard work and smart work to popularize the business in the eyes of people.

There are many steps which can help him to grow its business:

1) Target audience:

This point states that he should know the target audience and try to attract them with various offers and discounts, which will help its business to grow and achieve its organizational objectives effectively and efficiently.

2) Competition:

This point states that there is a massive competition in every possible field. If the company wants to reach the top level, they need to provide the right quality products to its customers and provide them with satisfaction, which will not shift the customers to the competitor's products.

3) Desirable place:

This point states that the business should have a favorite place, to begin with, which will boost the sales of the company, and there will be more chances of growth opportunities for the newly started business. A pleasant place is a very crucial factor.

4) Provide quality products and services:

This point states that as a new business, they should always prioritize their customers over anything else and provide them a good quality of products, which will help them get satisfaction and improve the company take a competitive advantage over their competitor's marketplace.