23/01/2026
10 Tips to Develop Your Business
Step 1: Idea Generation and Research
Identify a business idea that aligns with your interests, skills, and market demand. Search around for the pain point of those around you, and also search for what they have a high demand for but limited suppliers and go into. Example: You decide to start a garri business, a popular Nigerian food product made from cassava.
Step 2: Market Research
Analyze the market to understand demand, competition, and target audience, and research your target audience’s (customer’s) preferences, needs, and pain points. Analyze competitors’ offerings, pricing strategies, and marketing approaches. This helps you tailor your product to stand out in the market.
Example: Research local garri consumption trends, existing garri producers, and potential customers’ preferences. In the area where you are, how do they like their garri to be like, what type of casava would bring out the finest finish gari that they need?
Step 3: Business Plan
After the Research, you don’t rush to start marketing and production, rather, establish a comprehensive business plan outlining your goals, strategies, financial projections, and operational details. This would serve as a guide to you throughout the journey, you can do this by defining your business concept and detailing your market analysis. Business Concept: Define your business idea, mission, vision, and goals. Describe how your petty trading (garri) business will operate and stand out.
Market Analysis: Detail your findings from market research. Explain the target market size, demographics, and purchasing behaviour of potential customers.
Example: Your business plan details the sourcing of cassava, production process, distribution channels, and estimated costs.
Step 4: Legal Requirements
Business Structure: Choose a legal structure for your business, such as sole proprietorship, partnership, or LLC. For example, you might opt for a sole proprietorship for your petty trading business.
Registration: Register your business name and obtain any necessary licenses or permits. This ensures your business operates legally.
Example: Register your garri business with the Corporate Affairs Commission in Nigeria and obtain necessary food production permits.
Step 5: Financing
Determine the startup costs, and secure funding from personal savings, loans, investors, or grants. Startup Costs: Estimate your initial costs, including inventory, equipment, rent, and marketing expenses. For instance, calculate the cost of purchasing the cassava.
Budgeting: Create a budget for both startup and ongoing expenses. Plan how you’ll cover these costs and generate profit.
Example: You secure a combination of personal savings and a small business loan to cover initial equipment costs and raw materials.
Step 6: Location and Infrastructure
Set up your production facility, ensuring it meets health and safety standards.
Example: You lease a small industrial space equipped with facilities for washing, peeling, grinding, and drying cassava.
Step 7: Sourcing Materials
Supplier Selection: Research and identify reliable suppliers for your products. Negotiate pricing, terms, and shipping arrangements.
Quality Control: Ensure the products meet quality standards before making a purchase. For instance, order samples to assess the product’s quality.
Establish a reliable supply chain for sourcing quality cassava.
Example: You partner with local cassava farmers or cooperatives to ensure a consistent supply of fresh cassava roots.
Step 8: Production Process
Soft Launch: Test your business by launching to a limited audience, such as friends and family. This helps you identify any operational issues before full production.
Promotions: Offer special launch promotions, discounts, or bundles to attract initial customers and create buzz.
Design and implement an efficient production process for transforming cassava into garri.
Example: Cassava is washed, peeled, grated, fermented, pressed, and then roasted to produce garri.
Step 9: Branding and Marketing
Create a strong brand identity and develop a marketing strategy to promote your Garri products. How do you want people to be identifying your product? Develop a strong brand identity, including a memorable logo, brand colours, and a compelling brand story tied to your commitment to sustainability. Create a content strategy and social media presence to engage your target audience. Remember, branding and marketing is a continuous process. Example: You design eye-catching packaging for your garri, highlighting its quality and traditional preparation methods.
Step 10: Distribution and Sales
Set up distribution channels to reach your target customers and make your Garri products available for sale. Who are you selling to, direct consumers, wholesalers, retailers?
Example: You distribute your garri to local markets, and grocery stores, and also establish an online platform for direct sales.
Photo credit: Doing Holdings
