If you’re going to make millions and billions from your business please read this with all concentration.
You see, Dangote, Pascal Dozie, Zuckerberg, Jeff Bezos, Bill Gates and the likes are no different than the ordinary you out there. They all started at a point and have grown their business to the tones of billion$, and yes, we look and read about these people and admire them. Sometimes, we even think we can never be like them with their huge investments and portfolios.
The truth is, if you’re going to have a billion dollar worth of business, it solely depends on the kind of business you are into and it’s based on just one thing! Yes one and nothing more.
It’s called S C A L I N G !
Ladies and gentlemen, if your business does not give room for scaling, forget it, you can’t be at the top or amongst the wealthiest entrepreneurs.
You may be fine with a few bucks, yes, but I am focusing on entrepreneurs that would want to turn out revenues in millions and billions and I said, you can!
But first of all, ensure your business is scalable. And by scaling your business, I simply mean;
Take for instance, if you are selling a product or rendering a service, can you sell that product or render that service to 1000, 10,000, 100,000, 1 million and above persons?
Now, there are some businesses that can not exceed a particular number of sales or service per time. If you find yourself in such business, hitting the millions and billions will be difficult except if it’s a luxury product or service and even at that, it’s still limited.
I met a lady that’s into the production of lapel pins (this floral pin that guys put on their suit), and I asked her, how many can you produce a day, she said she can do 50 per day.
I continued, if you have a demand for 1,000 in a day, can you meet up? Ofcos her reply was NO.
If you render a makeup or beauty spa service, how many makeup or spa can you do in a day…? Divide your price by 1 million and see how many customers you need to make a million naira.
Now can you handle or service those amount of customers in a day or a week?
So, you see why it’s definitely going to be hard for you to be at the top earning entrepreneurial list.
Dangote offers products that millions of people use daily. The banks have millions of customers. Zuckerberg has billions of users on his platform- Facebook. Amazon Jeff Bezos have millions of people worldwide that buy and sell stuff on his platform, likewise Jack Ma of Alibaba. Bill Gate has million of people using his softwares.
If your business does not give room for a thousand, ten thousand and millions of patronisers, then I think you need to start thinking about SCALING!
If you’re into Makeup or beauty business, you can compliment your business with a scalable business of developing your own makeup products. You can’t make 1,000 people up in a day but you can sell 100,000 pcs of makeup products in a day.
Think about it, how can I scale this business and build your capacity gradually to a point where you can service thousands and millions of customers.
At the end of the day, the end customers are the most important people in every business, you must reach out to as many of them as possible if you will be among the top earning entrepreneurs.
And may I also chip in this that, you will hardly get an investor in your business if it’s not SCALABLE!
My name is Abbey, and I remain your publisher of Nigeria’s foremost SME portal, SME Digest.