📖Learn How to Outsmart your Customers to Build a Global Business and Brand!

 

Building a successful business is always a game of wits. Those who win find ways to outsmart their customers

On the new live series, I launched called ASK TOYIN, I have been filtering and answering various questions submitted from around the world. One of those questions this week was on understanding why customers do not like paying for services that they actually know that they need. Here is a general summary of my response:

• As a business owner you must realize that nobody owes you a dime. The arrogance we sometimes employ thinking that just because we consider our product or service to be the best and is an excuse for us not to do the work of crafting a compelling reason for anyone to buy is one of the limiting factors in building a successful business. An entitlement attitude towards your customer and the community you wish to serve will not reward you. Every business owner must understand this truth.
• We all love free things so why pay when we can get it for free? This is a known phenomenon and it is why "Freemium" business model exist and has become more popular in recent times. The more options customers have the more you have to realize that you must design winning business models that will lure them into your business web.
• The more you learn about your customers the more you can sell to them. If I told you that Amazon knows what you ate for breakfast would you believe me? Data about shopping patterns is a gold mine for us in the retail world. We know that if we can predict when it would rain we can sell more umbrellas. If we can anticipate when a woman is likely to have a baby we can sell more diapers... you get the point. You have to become more intimately aware of the tendencies and mindset of your customers to be able to serve them effectively.
• Empathy always wins! Your business is in service to the world. You create enough value before you can even begin to ask for value in return. You must have a compelling value proposition related to alleviating a pain-point of your customers or help them achieve their aspirations. You do this well and you are on your way to securing value for yourself.
• People often do not consider the cost of ignorance. What you do not know is negatively impacting your business growth. As I have studied regions of the world I realize that business, trade and investments drive global wealth distribution and I concluded that the ultimate cost of lack of knowledge is POVERTY. Thirst for knowledge will free people if they learn what it takes to achieve success in life and business. Knowledge is the ultimate POWER because when we know better, we do better.

It is an humbling process to realize that we only get to build our businesses with what we know and we must continue to invest in securing more knowledge. It is what the biggest brands in the world already know and they employ the best minds in the world because they also realize that it takes wits and skills to outsmart their customers to build wealth. People talk about of "transfer of wealth" not realizing that what facilitates this is the "business machine" which must be engineered, oiled and tuned to perfection. If it is not it would remain clunky so how tuned would you consider your business?

Many of the people who have watched Nazaru grow from zero to where we are today often wonder how we have grown so fast. The truth is that I continue to employ Design Thinking skills and I now teach the same. In fact given my technical and business background in serving the world's largest companies, I crafted a six step sequential process of how to reengineer a business for rapid growth and this July I will teach this my next class. 

Link to register is here - https://www.toyinumesiri.com/workshop