Start Up Business - Youth And Business.

 The Market Share!

It takes a lot to have a good portion or percent of the market share when starting a business. There is a trend in SME market where traders compete to sell the same product within the a certain location. Having many players selling the same product in some ways  creates  a mass market for customers, but the disadvantages come with the competing prices and quality.

Street Smart Vs. Book Smart

Running a real business and reading on how book how a business is run can never be the same. Running a business gives the best experience that is yet to be featured in books and in the confines of a classroom.

Thoughtful..

How does one create a Unique Selling Point (USP) within a crowded market? Here are some tips, I will use the shoes as my primary product to put the message across.  So if everyone is selling shoes there are many options you can think about  if you want to tag along the same product line as follows;

1. Add shoe laces on your product line.
2. Add shoe brushes and shoe polish.
3. Sell variety of shoes second hand and brand new. Variety can also mean sizes and for different groups.
4. Have a shoe repair corner.
5. Sell both on retail and wholesale prices.
6. Have an online store or invest in online marketing even in the simplest way using social media.
7. Build a brand identity don't just sell shoes but create a value that people would love to connect with.
8. Build your own brand.
9. Good customer care is important. This cut across from how you communicate, how you do your packaging, the time you give you customer to choose etc.

And many more...

Value addition is key in selling any product and it can come in different form that would make the customer love and need your products.

This is all for today, I hope you have learned something. Get in touch with me for a session on Creative Entrepreneurship whereby in a 5 days session  we will cover the 9 business fundamentals using the Business Model canvas that would enable you launch any business of your choice regardless of how the market is saturated.

 the best author of your story is YOU!

Do More / Be More  /Be Different

Read More >> https://wilsenx.blogspot.com/2020/02/creative-entrepreneurship-crafting.html?m=1