Thread by @HQawiyy

HOW TO BUILD A BUSINESS THAT MAKES YOU MONEY & GETS RECURRING CLIENTS

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A million dollar thread that will show you SIMPLE yet very EFFECTIVE ways to grow a business

Thread

Sit back & enjoy and share if informative

Starting a business is a lifelong learning curve & experience

It’s one of the most risky yet highly fulfilling adventure

If done right, you can be very successful & improve your standard of living.

But tell me, the main reason for starting a biz is profit right?

Read on👇🏽👇🏽

Let’s start with a background story

Long time ago, there was a man.

Let’s call him X, he was excited pretty much like you to start his lawn mowing biz

He went ahead to buy equipments & put out banners showing he was in the biz

Why did he start tho? His friend was successful

so he thought he should be too right?

Wrong!!!

Because you see someone succeed at a biz doesn’t mean will succeed too

See the patterns?

This could be you at the moment right?

Read on

He waited days

Days ran into months

Months into a year & not one single person asked for his service

Dejected and miserable 😩, MR X Quit his biz

Now this is similar to you right?

You start a biz with high hopes & when things don’t go right you quit eventually

Read on👇🏽

Anyone can start a biz but it takes a lot of things to start a biz that makes you money heck millions

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Now I get it, you may have a biz not making you money

You may be a newbie, no foresight or ideas. Well you’re in luck. Read & learn here👇🏽

You see, from statistics only 1 out of 5 biz ever make it till their 5th year of been established

So that means only 100 out of 500 biz last till the 5th year

Are you shocked?

Don’t be

Let’s begin

What is the most important factor in starting any business tho?

Capital?

What do you think is the most important?

Well it’s not money

Not even buildings or structures

So what is it?

Let me put you out of your misery

The most important factor is

Ding Ding!!!

People

Yes you read right!!

Humans are the most important factor

You see, you don’t just start a biz because you have money!

Yes! Money is important

Not because your friend has succeeded

You start a business to solve a problem or fill a void

I do say this, if you can solve people’s problems you will make a hell lot of money

Read on 👇🏽

Humans are SELFISH!!

Yes we are and there’s no point denying it!

You know right?

When you approach someone to try and make a sales, the subconscious mind tries processing

WIIFM - What’s In it for me?

You understand?

Good

You need a hungry audience/market to sell anything

Now think

You have issues with your products in making sales

I get a lot of dms on this, “How can I sell my stuffs?” I’m not making sales right?

Here’s your answer

If you find a market first before a product, you will make a whole lotta money

That’s the first factor
Read on

Now you have identified an audience

The next step is positioning & having a marketing angle

You can’t sell to everyone

I see a lot of people & businesses committing this mistake

You have to chose a demographic you want to appeal to

Look at IPhone compared to itel

They appeal to two parallel audience right?

Good

When you chose an audience, you need to understand the language they speak & how to appeal to them

When you sell to the masses/broke(no offense)

You target emotions of been inclusive (you understand their pockets so it’s cheap)

Now when you sell to the rich/elite class

You focus more on being exclusive (Gucci,LV,Apple do this)

You try to sell prestige, target their insecurities & use your product to complement what they obviously lack

Now when you do this, note one thing

Read on

To sell to the Masses, you sell at a lower price in huge volumes

Let’s say $97 to 5,000,000 people

While selling to the Elite $1,800 to 1,000,000 people

You understand right?

Now it depends on you, which you will sell to

I won’t make that choice for you

Thread is getting long so imma just head to the last step.

Making sales makes you money but if you don’t retain a certain % of your clientele

You’re literally leaving money on the table

How do you now do this?

You wanna know right?

Read on👇🏽👇🏽

In biz we call something LTV

Now what’s LTV you may ask?

Wanna know? Yeah you’re smart!

Lifetime Value

My e-commerce store did $2,272,461.73 in 2018 and we discovered that an average customer buys 10X

So we made the most of our money from referrals & return buyers

Read on

So how do you do this?

-Good customer service
-Prompt response to complaints
-Being interested in the lives of your customers

Little things count

Have a database of your clientele & know stuffs like wedding anniversaries, their kids names etc

All these will increase the bond

Might seem simple, but honestly if you can apply these few but broad topics I touched

I can bet you will see a difference in your business

So in essence, businesses are built around your customers not you

-Solve problem
-Have an hungry audience
-Be specific
-Customer is king

If you found value in this short yet valuable thread, head down there and retweet the whole thread

https://twitter.com/hqawiyy/status/1102637720533377025?s=21

For more stuffs like this, follow this page.

Tag your friends that own business to learn and share

This week will be mainly focused on how to grow your business

Gracias
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Abdul-Qawiyy