African business owners

WHAT AFRICAN BUSINESS OWNERS MUST DO TO RETAIN THEIR BEST CUSTOMERS

Welcome to Kanselor University. Today we want to share with you what African business owners must start doing to keep their best customers.
The first step to keeping your best customers is to know who those best customers are because I have come to realise that most African business owners do not know who their best customers are.
One of our students run a school and she has a tailor that makes her school uniforms for her. Over the past nine months she has made purchases of over N200,000 thousand naira from this Tailor. But at every point of ordering, the tailor will keep delaying her orders coming up with one excuse after another. It then occurred to her that this tailor had other clients who had big names and he was trying to get big orders from.

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Now knowing such big clients, they rarely pay on time and always come with big trouble. I tried to get the tailor to see who his best customers were.

Were his best customers Clients like our student who always paid on time and bought regularly from him or Bigger organisations that he would write several quotations before getting the order then waiting for months before getting payment?

A lot of African business owners make this same mistake. They neglect customers who buy regularly and always pay on time while going after "Big customers" who will owe them for ever.

For African business owners to thrive, they need to understand that cashflow is the life blood of their business not paper profit. You may make bigger profit from the big customers but end up going out of business because they never pay you on time. Meanwhile your neighbor who focuses his attention on customers that pay on time and buy regularly even if its in small quantities will have a enough cashflow to remain in business and become successful.

African Business owners must understand that timely delivery of their goods or services with the best AFTER SALES SUPPORT SERVICE  is the best way to retain their best customers and their best customers are those customers that give them steady supply of jobs to do and pay regularly and on time.

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Posted in EXECUTIVE CONFIDENCE, PROFITABILITY, STRATEGIC PLAN, SUSTAINABILITY.