03/12/2021
HOW TO SUCCEED IN YOUR BUSINESS
To succeed in your business, you need to understand it well.
You need to be clear on your business model and understand the following:
1. Your value proposition - what is that unique thing you are offering your customers that they can not get elsewhere e.g. quality and timely products and services
2. Understand your customers segment- which customers is your business targeting e.g. women, youth, men, farmers
3. Business Channels - how do you reach your customers? Do you sell to them directly at your store? Does it add value if you go to them? Etc
4. Customers relationships- how do you ensure Good customers relationships?
5. Revenue streams- how does your business make money e.g. sale of green grams grains and seeds
6. Key partners- which key partners are you working with to ensure success of your business? e.g for green grams groups NARIGP, KCEP, HAND IN HAND, MAEEO, personel
7. Key resources- which key resources do you require for success of your business? Financial resources, Human resources, Technological resources, Social resources etc. How do you acquire them?
8. Key Activities? Which key Activities do you need to do in your business for it to succeed?
9. Cost structure- in which ways does money get out of your business? Purchase of raw materials, payment of personnel, indirect cost e.g. Water, electricity etc
