WHEN WILL YOUR SMALL BUSINESS STOP BEING SMALL?

Some businesses began as a means of survival.
Some began as a means of attaining a comfortable life.
Some as an alternative source of income.
And some as a vision to create a sustainable company.
 
The way you approach your business is often an indicator of how and why the business was started.
However, you have to be sensitive to know when it’s time to make the transition from where and why you started to the next level.
 
Too many people stay stuck at the survival and comfort stage under the guise of small business.
I would like you to think about this and find answers yourself.
 
Do you look forward to seeing your business exit the small business stage?
What needs to happen for your business to stop being a small business?
Can you handle your business becoming a company?
 
Being a CEO isn’t simply by founding a business.
Being a CEO implies there are other executive officers and you are the Chief of them all.
 
Look at your business, do you really have other executive officers?
 
My intent here is to stretch your mind to the fact that at some point you have to make the transition to building a proper company either by upgrading your present business or starting another one.
 
However, if a small business is all you sincerely wanted to build, that’s fine as well. Just ensure you make it a brand that stands out.
 
This conversation shall continue…
 
 
Written by Maple Dappa
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ONE CRITICAL SKILL FOR YOUR BRAND IN 2021!

selling your business
As an entrepreneur, it is not enough to have a brilliant idea neither is it good to rush into execution because you think your idea can fetch you lots of money. One question you must sincerely ask yourself is how will I get clients?
Ideas and dreams are exciting.
Doing the groundwork could be fun.
Until it is time to sell yourself, product, or service, and cold feet will show up.

Selling is a skill every entrepreneur must possess if you desire to build a great brand because the money required to keep your brand afloat can only come through selling your products and services.
Selling is a must-have skill for you because your dreams won’t come true if you don’t confront the challenge of selling.
Yes, you may be selling at your own level but you need to upgrade and scale-up for that your desired increase in revenue to happen.
The most successful people in the world are not necessarily those who are the best at what they do, but those who sold themselves, products, and services better. However, even selling itself requires strategy.
If you want better results in 2021, learn to sell better!
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DERIVE MORE VALUE FROM YOUR TEAM!

improving team performance
Dear Business Owner,
Do not expect your workers to be super performers if you have not clearly outlined your expectations from them in the form of a job description.
And even when you have a job description, do not leave it at that. Create key performance indicators (KPIs) derived from the job description. In other words, have a way of measuring if each worker is on track with their duties.
The KPIs are like specific goals tied to the individual tasks a worker has to execute. It keeps them on their toes and you don’t need to worry much about them doing TikTok instead of working, their performance will be evaluated based on the KPIs.
The performance evaluation enables you to know whom to promote, whom to drop, whom to sponsor for further training, and so on, without sentiments.
This also addresses the concern of remote workers being distracted.
If you need help with implementation, come home to Mapemond. We are experts at this as part of our commitment to building profitable, sustainable, and reputable brands.
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ARE YOU READY FOR FUNDING?

getting funding

“Funding for our business was approved”

That was the message a client sent to us recently!

We are not sure of what was responsible, but we got a lot of requests for business plan writing during the lockdown on to the later part of last year.

It gives us joy when entrepreneurs give serious thought to thinking through and planning their business idea before taking the dive. Our work revolves around the full spectrum of brand development and no business brand will stand if the business end of things isn’t well secured.

We wrote business plans for a cooking gas plant, petroleum marketing, and filling station, snail farming, cassava farming, real estate, paper packaging, wholesale food mart, etc. We are presently writing for a marine shipyard, a fashion label, and finishing some pending ones too.

The business plans gave clarity to the owners and caused them to think more deeply about what they are about to get into alongside, we also got some cool revenue for the work done, but nothing gives joy than to hear the good news of funding being approved.

Accessing funding begins with articulating and documenting your business plan, so the big question for you is are you ready for funding?

If you need help with one then come home to Mapemond.

We are an email away wecare@mapemond.com or CHAT WITH US

#DoBusinessBetter

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WE STARTED SOMETHING AMAZING!

business support group

Drawing from the lessons of 2020, we decided to start a support community for entrepreneurs and those aspiring to be one sometime soon. It will be a full-blown business community (in the form of an Academy) for those who are seeking to go beyond mere hustle and survival to building sustainable companies and reputable brands.

Many business ideas will be shared.
Statistics and data from various sectors of the Nigerian economy will be shared.
Even foreign networks and opportunities shall be shared.
Hacks and contacts for funding and other access will be shared.

But being a part of this community will not be free. So we can have only committed people on board.

We will learn together without anyone lording it over.
The many questions of members can be answered by different persons, not just one person.
We will have breakout groups according to areas of interest and unique challenges.

There will be an exchange of experiences, resources, and support.

It will be a community for those who want to be inspired and pushed beyond their limits without feeling less of themselves.

There will be hand holding for the weak or inexperienced.
There shall be no talking down or shaming of anyone.
Both the sprinters and crawlers are all welcome on board.

Do you think it is a good idea?

All members will have access to the following:

– An overflow of business tips and insights
– Answers to business questions and challenges
– Access to our resources (ebooks and online courses) at no extra cost
– Discount on our MBA courses in the works
– Access to professionals in various areas (Legal, Accounting/Finance, and many others)

Members of the community will set goals for 2021 and be paired for discipline, focus, and accountability:

– Saving goals
– Investment goals
– Business objectives for the year (You want to attend a global conference or change office or just get the business started? Etc)
– Travel goals
– Self-development goals
– Compliance goals (Your personal tax, company taxes, contract eligibility papers, annual returns, etc)

As we mentioned, it is a full-blown business support community.

Does this interest you?
Do you have someone to sponsor?

Click on REGISTER to enroll.

We can achieve more, one day at a time, with the right community.

We can #DoBusinessBetter

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BUSINESS INSIGHT: SETTING YOUR REVENUE TARGETS FOR 2021

It’s a new year and everyone is optimistic about achieving great results.

One major goal that business owners want to achieve is to make more money, it is the key driver for business.

Having a financial goal helps a brand to identify its target market and the right audience to pitch its services and products per time.

In addition, it helps a brand to know the number of products or services required to be sold in order to meet up the financial target and to also develop the right marketing strategies to achieve these goals.

Do not leave your revenue to chance and guessing.
So let’s say your target revenue for 2021 is 5 million monthly. It is not enough to leave it at that while you hope for the best. Break it down into chunks;
– How many products do you need to sell to hit the target?
– Or if you service-based, how many clients or projects do you need?
– How will sales happen?
– Do you have an advert budget?
– Do you have a networking plan to access high-paying clients?
Can you break all of these down into weekly targets?
Doing this helps you gain clarity and focus. We hope you think about this and act.
Have your financial goal clearly marked, and when you crush these goals, set new and even bigger revenue goals.

#DoBusinessBetter

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DO YOU KNOW THE BUSINESS SIDE OF YOUR SKILL?

know the business side of your skill
Many persons are skilled but only a few seem to understand the business of their skill.
One major element in making your skill or talent a business is to learn to sell that skill.
To know how to bake cakes is one thing, understanding the business of selling cakes is another.
To know how to make dresses is one thing, understanding the business of selling dresses is another.
To know how to cook is one thing, understanding the business of selling food is another.
To know how to write is one thing, understanding the business of selling your books is another.
No matter your skill or craft, understanding the business aspect of that skill or craft to be able to build a brand out of it, is as important as knowing the skill or craft itself.
In situations where you are stuck because you do not know how to apply business principles to your skill, it is advisable that you reach out to a business developer to hold your hands and walk you through the dark paths.
It is possible to build a great brand from your skillset.
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DON’T BE QUICK TO BACK DOWN AS A SALESPERSON.

getting leads and closing sales
Being a salesperson is not merely about explaining the service or product.
You must know the product very well and be able to explain it excellently, but sales require more than that.
Here is a conversation our Captain witnessed at the airport lounge between a sales representative of a real estate company and a prospect.
Salesperson: Hello Sir, please can I sit here?
Prospect: Sure, the seat is free.
Salesperson: Thank you, but I was asking because I wanted to speak with you.
Prospect: Okay.
Salesperson: My name is Eva and I work with a real estate company.
Prospect: Oh, don’t bother yourself.
Salesperson: Erm, someone else already spoke to you?
(The wrong question!…can you guess why? Drop it as a comment.)
Prospect: No. I am also into Real Estate.
Salesperson: Oh wow. That’s nice. No problem, Sir. Thank you for your time, Sir.
And Eva takes a walk.
The prospect gave her audience and wasn’t in a hurry with the conversation.
Some prospects will tell you that they are also into real estate just to get you off their back.
When they say that, bring up the conversationalist in you, every good salesperson must know how to start and sustain a conversation.
Eva could ask the prospect about the aspect of real estate he is into – people love to talk about their business.
As he speaks, she will be making positive remarks about his business intermittently while she is scanning to see what opportunities she could explore, since he isn’t a direct client.
And if it appears that there will be no deal after she scans, she works on establishing a network with him for possible business opportunities and necessary follow-up depending on where the conversation ends.
Being a salesperson is dynamic, it isn’t as simplistic as getting customers to buy goods over the counter in a shop.
Five key things to note:
1. Know your product or service very well.
2. Know how to profile your prospects.
3. Learn to start and sustain a conversation.
4. Focus on getting something, at least a contact for further communication.
5. Engage professionals like Mapemond for training, you cannot grow your brand without a great sales strategy, team, and the needed super skills.
Did you pick any insight? Please leave a comment.
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HOW TO SELL VIA DMs ON SOCIAL MEDIA

whatsapp markketing
The screenshots below are from a conversation between the Founder of a Laundry and our colleague.
We think that it is a masterclass on how to get into people’s DM or inbox instead of just dumping flyers and random broadcast for them.
We hope that you will pick insights from it.

marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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marketing a laundry business

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Our quick lessons from the conversation are:

1. Understand your prospect
2. Start on a warm note
3. Say nice things about the prospect
4. Anticipate their concerns and prepare your answers

5. Create compelling offers they can barely resist (you have to make some sacrifice to win them over)
6. Make sure your service matches or even surpasses the promises you make
We sought her permission to share the screenshots.
What do you think?
Do leave a comment.
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KNOW THE NUMBERS IN YOUR BUSINESS

pricing your services or pricing your products
Justina sells fried yam, potatoes, plantain, and fish in her neighbourhood in the city of Port Harcourt.
She makes average revenue of NGN38, 000 daily, which amounts to NGN228,000 weekly (excluding Sundays). Her revenue in a month is approximately 900k.
There are 11 other people selling fries within that axis of the town. Some make lesser and others make higher.
Collectively, they make an estimated annual revenue of over NGN100million. Imagine how many others are in the business across the city and how much money they make.
A single client at Mapemond makes average revenue of 18million annually selling just cocktails.
We recently worked with a juice brand in reworking their business plan by laying out the numbers plainly, the founder is dazed at what is possible with her supposed small venture if she diligently focuses on putting in the work.
The challenges are enormous with building a business, but one thing we must strive to pay attention to is the numbers.
In one year of managing a restaurant brand, we have done NGN49million in revenue with NGN19million as profit, over 600% increase from past revenues.
Everything we did from brand identity to visibility to marketing to sales to the procurement of better equipment and so on was all guided by our focus on the numbers.
Regardless of size, don’t just be busy with business, pay attention to the numbers, and keep tweaking to find what works best to improve your numbers.
Study the numbers. Learn the numbers. Know the numbers.
You may not get it right immediately but stay on the right track.
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