SME Growth Tips

By Victor Uche Obioma

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SME Growth Tips
  1. Consider GIVING, Offering Service, doing favors to people, identify with relevant persons in the scheme of our work and business and offer them REAL VALUE and SOLUTIONS that enhance their Business and LIVELIHOOD (example pay for the Courier shipment, connect a business partner/co-worker to an opportunity, link partners to relevant persons within your network who can offer a service or solution they require to enhance their own Businesses etc.) these open doors like mad.
  2. Go after an Opportunity you desire by first figuring out relevant persons who can open a door to a door to a door of where the opportunity is seating. Often we rely on immediate family, friends, relatives, acquaintances etc. to get things done but in REALITY I found that help is in Strangers more than in the Quarters where we expect them. Therefore reach out extensively to pursue something you desire- IF you get it, you’ll be happy, IF you MISS it, you’ll LEARN something new that you can add to modify and improve your strategy and Process.
  3. Engage the power of Leverage- Connect to relevant persons, make friends, engage more, be more visible and add REAL VALUE so that you can leverage on the extensive network and Connections of people whom you have improved their welfare being in their network. This enables you get things done faster and quicker for yourself and business. Leverage has built economies and big businesses. It works MAGIC forever. This is key STRATEGY the Dangote’s, Tony Elumelu’s, Jim Ovia’s, Otedola’s etc have lived by that made them BIG.
  4. STOP complaining about Nigeria and START asking deep questions- HOW, WHAT, WHO, WHERE do I GET SOLUTIONS. Be creative in your QUEST, Be Open Minded so you can see SOLUTIONS to whatever needs to be achieved, connect with RELEVANT Persons that can influence things, show up in the right places where influencers and decision makers are seen, think through how you can solve or contribute to solving the many problems in Nigeria by creating solutions- THERE LIES THE VALUE you SEEK for, follow those who know road to understand how people getting results are doing things, closing BIG DEALS and moving FORWARD. The JUICY opportunities are not in the public domain most of the times, rather discussed in informal settings and unusual places like at Coffee meetings etc. This is why you MUST Show-Up
  5. Take Risks and fair Bets on yourself, Dive Deep and learn to Swim or Drown. Use data to support making informed personal and business decisions. Stay Lean, keep a Lean budget- Spend only what you have earned: You are not in Competition with any, face your front and tell yourself the honest truth about your situation. Be intentional, determined to do whatever it takes and not back down on getting RESULTS.
  6. Yield to PARTNERSHIPS to share burden and RISKS of managing your existing business or venturing into a new one. Growth is easier and FASTER when you sensitively Identify and partner with people on the same Journey as Yourself- You plug into their Network, Connection, Knowledge, Finance, Skill/Acumen, Drive, Giftings and many other opportunities and together Complement each other’s Personal and Business GROWTH Mission.
  7. Be VAST. Learn a Bit of everything, particularly all the core functions of your Business Operations- Sales, Marketing, Procurement, Accounting, Business Development etc. They improve your EFFICIENCY to manage your TEAM and your BSUINESS; as well close the gaps that expose your business to LEAKAGES, Mismanagement, and FRAUD etc.
  8. Be Open- Minded, Seek for Knowledge and Opportunities, Ask Questions, Get Involved. Stop Being a REGULAR Nigerian who doesn’t believe in nothing. There are Opportunities- Govt. Interventions etc. scattered everywhere which many times due to ‘Doubt, Disbelief in our system, Loss of Hope in our Nation, Dampened Mindset and Emotional Drain/Drive littered in our society’ deny us the Drive to ATTEMPT and TRY where as many persons are benefitting and taking advantage of these Opportunities. Before you disbelief an opportunity ask yourself ‘What Do I Lose if I try?’
  9. Plan, Bootstrap, Crowd Fund (or do both) your Big Business Financing needs. The banks, Private Lenders and Micro Finance Institutions will not offer loans without asking for your throat. Apply 20:80 Principle in all critical personal and business decisions. As a Person and SME/MSME Business Owner, pay attention to channel your energy to the 20% EFFORT that gives you or your SME 80% Growth or Result Opportunity. Figure out yours with the flow and sequence of things around you and or your Business.

Victor Uche Obioma is the Vice Chairman, VICFAUS INTEGRATED SOLUTIONS LIMITED (Division of VIEWS GROUP Co.), He is an International Partner for Nigeria; World Business Angels Investment Forum-WBAF and a Member; Global Start Ups Committee

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