Managing a Business without a Masters in Business Administration.(4)


This will be the final part. Of course getting a business off it’s foot is not a matter of writing or reading 4 blog post. The world of business is a treacherous place to be. If you are not the kind that can take pressure, from without or from within, I would advise you to keep out of the business world and stay put with a steady job. Many people have the notion that being their own boss means freedom from their work pressure. Let me tell you it’s not. The pressure will be 10 times from what you experience in your present job.

Of course being in business, you stand a chance of making it very big and if you succeed you may make 10 times what you are earning now. So that is the risk you have to take, but never have the impression that it is going to be easy. That said, let’s get down to my last point.

What are Value Added services.

Value added services are services that you give to keep your customers happy so that they will come back even though they know they are paying more. Like I said in my previous article, I keep a firm stand in pricing my items because that is the margin that will cover my Expenses and at the same time allow me to make a small profit. So to keep customers happy, I try to be as helpful as possible with their problems.

A guy comes in to buy a electrical switch and he has no idea how to fix it, I take the trouble and time to show him how. Another guy wants some curtain railings, I will take the time to hook up everything for him so when he goes home he just need to screw it down .

There are many areas where you can keep your customers happy other than that compulsory smile. Treat each and every customer like a VIP, no matter how much business they give you. Become their friends. Be sincere. Don’t cheat them and they will come back time and again. The best part is they will get their friends to come also.

That concludes what I have to say. when I first started this series, I emphasised that I have no special training in the world of business management and what I wrote here is all based on my experience. I think most of what I said is what you will find being taught in business schools and like I said, most of it is common sense. Of course if you are fortunate enough to have studied in a business school, I am sure you will know more than me on all these theories. Nevertheless, I hope this series can be of help to people like me who have never set foot in a college but would like to strike it out in the business world.