As most of you may know, there is a gamut of programmed procedures that precede an aircraft’s take-off from the runway. But the actual lifting-up of the aircraft is the final event of an aircraft’s departure routine towards its destination.
While gathering speed, the captain keeps the aircraft firmly on the runway tarmac by holding down on the throttles. However, for the aircraft to lift-up, the captain or pilot must let go the throttles, so that the aircraft can become airborne. In other words, the pilot lets go, and lifts-up.
As a micro or small business person, you may be unknowingly holding down your business due to some business practices you hold unto, but which are detrimental to your business success.
In this short piece we take a look at some of those business practices you need to let go so that your business can become more successful and competitive.
To let go is to do away with, to get rid of, to discontinue, those things that do not positively impact your business success. Let-go and lift-up!
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What Should You Let Go?
⊗ Let go being a General Merchant
Let go trying to be a general merchant or jack of all trade. Instead stand out and become known for a particular range of products or services. Identify what makes your business unique and make it your slogan.
Identify your target clients or customers and focus on maximising their clientele or patronage by providing or creating the exact same products and services they need, want or demand. That way you specialize in a niche that resonates with a particular market segment.
For example, a small restaurant could focus on serving a well prepared, rich and delicious okra and vegetable soup, as the only major item on its menu – and become known just for that. That way it differentiate from competitors, make more profit with less effort, by focusing on a fewer but more affluent clientele who are happy to pay their price.
⊗ Let go Customer Apathy or Indifference.
Make your business customer-centric; with a focus on creating customer satisfaction. Go the extra mile to consciously grow a large pool of happy and satisfied customer loyal to your brands.
A large pool of happy and satisfied customers will help to boost your business profits through repeat purchases, and free word-of-mouth advertising for your products and services.
By being friendly with your clients and customers, you can get usable customer feedback that helps you improve on your deliverables, as well as keep up with the competition.
See 7 Smart Tips to Boost Small and Micro Business Profits
⊗ Let go your Ostrich Mentality.
Here, the ostrich mentality refers to the tendency of some business persons to ignore obvious business issues and pretend they do not exist. The expression Ostrich Mentality derives from the alleged habit of an ostrich to stick its head in the sand rather than face a perceived danger.
Some business persons in their bid to evade tax obligations avoid any investment in marketing and publicity of their business, because they think it makes them exposed to government taxation. Let go hiding from government and invest in marketing and publicity of your business, brand, products and services.
To be successful, a business should invest in well targeted advertising and publicity. Not investing in marketing and publicity could lead to low visibility for your business or brand; as well as poor sales of products and services.
Fact is, if you have a business, you need a website, a social media presence, or at least a Business PAGE. These are great ways to have your company, products and services in front prospective clients and customers.
See 5 Reasons to Make Your Business Visible Online
⊗ Let go your stick-with-it mentality
Let go your old-school mentality of that’s the way it has always been done. Lift up your eyes, observe and embrace the ever changing landscape of your business sector. That way you can monitor changes in products and services market trends, innovations, customer preferences, pricing, packaging and delivery options in your business niche.
This will surely help you make appropriate adjustments that help you remain relevant in your business niche. For example, failure to establish an online presence for your business can make you lose clients to your competitors who have embraced the speed and convenience of e-commerce and can transact with their clients and customers online.
See Will Your Business Remain Relevant Tomorrow?
In summary:
Let go being a general merchant; focus and specialize.
Let go customer apathy; embrace customer service.
Let go your Ostrich Mentality; do the needful.
Let go your stick-with-it mentality; embrace change.
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Stay Smart, Wealthy and Wise!
© Jay Onwukwe
