Showing posts with label BUSINESS. Show all posts
Showing posts with label BUSINESS. Show all posts
Nigeria Orders Telecoms to Block Binance, others access months after lifting ban

Nigeria Orders Telecoms to Block Binance, others access months after lifting ban

Complex factors, not us, influence FX rates in Nigeria, says Binance

Telecommunications firms yesterday effected the directive from the Nigerian Communications Commission (NCC) to block access to the websites of cryptocurrency firms.

A senior executive in one of the telecoms company confirmed this development to The Guardian yesternight. According to him, this was part of moves to curtail the sliding status of the naira, especially activities of speculators. The naira fell to about N1,800/$ yesterday.

Affected firms would include Binance, OctaFX, Coinbase and others. This is coming some months after the Central Bank of Nigeria (CBN) issued a guideline to govern digital asset operators’ activities.

In December 2023, the CBN changed its stance on crypto assets and asked banks to disregard its February 2021 ban on crypto transactions.One of the affected firm, Binance had stated that its platform is not for currency pricing. The platform said this after users lamented their inability to buy dollars.

While noting its commitment to a market-driven, fraud-free, and manipulation-free platform for its users, Binance said, “Furthermore, as industry leaders, we are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.”

Yesterday, the firm confirmed that it paused transactions to protect users from price suppression. Addressing rumours that currency speculation was thriving on its platform, the firm, said, “It is important to note that foreign exchange rates are influenced by various complex factors, which Binance has no influence on.

“However, we continue to actively engage with regulators, policymakers and other relevant stakeholders to foster an open, transparent dialogue about managing the evolving landscape of cryptocurrency and financial markets.”

In September 2023, Nigeria’s Securities and Exchange Commission (SEC) placed a disclaimer on Binance Nigeria Limited, saying the platform was “neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal.”
MasterCard, Boost to Provide Digital Wallets for FMCG SMEs

MasterCard, Boost to Provide Digital Wallets for FMCG SMEs

Mastercard has collaborated with Boost to provide digital payment wallets and embedded supply chain finance to empower and expand small businesses in the Fast-Moving Consumer Goods sector in Africa.

The firms stated that the partnership aimed to provide support to distributors, wholesalers, and retailers in the FMCG sector.

They said the players would be provided with Boost’s platform as a service to access essential working capital and Mastercard’s acceptance solutions.

In a statement, co-founder and Chief Executive Officer, Boost, Mike Quinn, commented, “We are thrilled to enter into this scaling partnership with Mastercard in pursuit of Boost’s mission to enable small businesses to thrive in the digital economy, to create sustainable jobs and income.

“We have already proven that Boost’s model can scale widely across, and deeply within, emerging markets by building strong partnerships to digitize end-to-end supply chains between manufacturers and point-of-sale retailers.

“Mastercard will help us take our model to the next level to create transformative value for our customers and partners while fueling our global ambitions.”

For Mrs Folasade Femi-Lawal, Country Manager and Area Business Head, West Africa, Mastercard, the collaboration reiterates Mastercard’s commitment to including MSMEs in the digital ecosystem.

“We are excited to embark on this transformative journey with Boost, as we understand the challenges that small businesses face, By digitizing payments and creating a track record for their transactions, we will enable more MSMEs to access credit facilities and scale their businesses Through the delivery of integrated digital payment solutions and supply chain finance, we believe we are empowering MSMEs with essential tools to not only survive, but thrive.”

“This collaboration underscores our dedication to advance MSME growth in emerging markets and foster economic growth and financial inclusion through innovative digital solutions,” she added.

The firms added that the collaboration aimed to provide financial institutions with the capability to issue digital payment solutions and expand into the micro-retail space, while empowering merchants to digitise payments and access working capital.
Meet India’s youngest billionaire, the 27-year-old CEO of a unicorn start-up who has a staggering net worth of Rs 9134 crore

Meet India’s youngest billionaire, the 27-year-old CEO of a unicorn start-up who has a staggering net worth of Rs 9134 crore

India is home to hundreds of billionaires, with businessmen like Mukesh Ambani and Gautam Adani amongst the richest of them all. However, in business, age is just a number as many young entrepreneurs are entering the coveted billion-dollar club. But who is India’s youngest billionaire?

Meet India’s youngest billionaire

Pearl Kapur, Founder and CEO of ZYBER 365 (109th unicorn in India), is India’s youngest billionaire at age 27. According to The Financial Express, ZYBER 365 — a Web3 and AI-based OS start-up revolutionizing retail — is an Indian blockchain technology and cyber secure AI ecosystem firm with its headquarters in London, UK, and an India branch in Ahmedabad, Gujarat. The company has also been touted as India’s and Asia’s fastest unicorn, achieving the milestone in just three months.

According to DNA India, SRAM & MRAM Group, an agrarian company, saw potential in ZYBER 365 and invested 8.3% of the $100 million in funding. Owing to this, the start-up reached a towering valuation of $1.2 billion (approximately Rs 9965 crore). Pearl Kapur, who owns a 90% stake in ZYBER 365 Technologies Ltd, has a staggering net worth of $1.1 billion (approximately Rs 9134 crore).

Pearl Kapoor holds a degree in MSC Investment Banking (CFA Pathway) from Queen Mary University Of London. According to his LinkedIn page, Kapur is known as an “innovator of EVM Compatible Web3 Layer 1 Proof of Authority (PoA) sustainable chain.” The young businessman is a “staunch believer that aggregation of exponential tech like blockchain, AI, cyber security benchmarked with sustainable practices would create a solution that would empower masses and create Globalization 3.0,” according to his website.

Pearl Kapur launched ZYBER 365 in May 2023 with Sunny Vaghela, Co-Founder and CPO, who is deemed one of India’s top ethical hackers. Kapur currently resides in Monaco, Europe. ZYBER 365 aims to make India the central hub for its operations, according to The Financial Express.
Career Experts Suggest 4 Resume Tricks To Impress Recruiters in ‘3-to-5 Seconds’

Career Experts Suggest 4 Resume Tricks To Impress Recruiters in ‘3-to-5 Seconds’

There are few things more nerve-racking than looking for a new job. While it might provide some comfort and a much-needed confidence boost to fantasize about recruiters pouring over your resume with much determination, the reality is that hirers spend about “three-to-five seconds” looking at your resume, according to one expert. “Five is generous,” he said.

That’s not to say resumes aren’t important; they’re more valuable than ever. But they have to engage their readers immediately with uber-pertinent information and keywords, according to Simon A. Taylor, Head of Organizational Effectiveness & Change Management at Gap Inc. and the author of the forthcoming “Build Smart: A Blueprint for Building a High-Performing Organization.”

Jeff Hyman, CEO of Recruit Rockstars, who has interviewed over 30,000 people during his 25-year career, concurred that being concise serves job seekers well. “You don’t want to submit a lengthy, two-page resume in a small font listing every job or accomplishment you’ve ever had,” he said. “It’s never going to work in your favor.”

Here’s four resume tricks that will help you impress recruiters in three-to-five (or six, per CNBC Make It) seconds.

1. Parallel the Job Description

Your resume and cover letter should reflect each and every job to which you apply. Make sure you review the description of the job to which you’re applying and include keywords and current job titles that imitate the posting.

“You want to create a customized version of your resume that mirrors the job description so that the person reading your resume thinks, ‘Oh my God … how could we not interview this person?'” Hyman stated.

2. Provide a Resume Summary

A two- or three-sentence introduction to your resume has gone in and out of fashion over the past decade. The practice is currently in favor as recruiters are spending less time reviewing resumes. As CNBC Make It noted, a concise summary of an applicant’s top skills — or “a couple of bullets at the very top of their resume summarizing the top six skills they have or types of experience,” said Taylor — isn’t necessary, but it might prompt employers to read past a handful of seconds.

3. Feature Relevant Past Job Experience

If you think the job experience section of your resume is a standard list of past positions and roles, think again. This area is an opportunity to customize your resume so it gels with the advertised job description. By emphasizing past roles and reputable companies that are a good fit to a prospective employer, you’re filling in a lot of blanks for recruiters.

4. Highlight Achievements and Results

Too much unfocused information on a resume is a red flag, according to Hyman. Resumes shouldn’t exceed one page and should highlight promotions, mentorships, tough assignments and concrete accomplishments rather than vague descriptions.

Recruiters are increasingly interested in leadership and management skills. “Any experience that you’ve had around leadership, people development, hiring or mentoring people is one of the most important things that recruiters and executives want to see in a resume,” said Hyman.

In the words of Taylor, “It’s not always as black and white,” as crucial requirements, but there are common resume elements that recruiters are looking always for. If you’re cautious with creativity and follow the employer’s needs, you’ll improve your chances at a follow up and interview or, hopefully, a job offer.
I’m a hiring manager — here’s how to get your job application noticed

I’m a hiring manager — here’s how to get your job application noticed

In the market for a new job? A talent acquisition manager is sharing a surefire tip for getting noticed by hiring specialists.

“If you’re applying for 100-plus jobs, you are wasting your time,” Gretchen Wiegerink, who works for a staffing agency, declared in a trending TikTok last week. “Being on the job market is a job in itself, so quality versus quantity is huge in this case.”

“Take time to read job descriptions,” she continued. “Take time to look at company websites, Glassdoor [reviews]. You want to make sure that company’s core values — and also just the job description and what they’re actually looking for in this hire — align with your core values, your traits, your skill set.”

The job research site Zippia found that on average, it takes 21 to 80 job applications to get one offer.

Plus, the typical corporate job opening receives around 250 applications.

“If you’re applying for 100-plus jobs, you are wasting your time," Gretchen Wiegerink, who works for a staffing agency, declared in a trending TikTok last week.
“If you’re applying for 100-plus jobs, you are wasting your time,” Gretchen Wiegerink, who works for a staffing agency, declared in a trending TikTok last week.TikTok / @gretchenwiegerink

To stand out from the pack, Wiegerink advises using LinkedIn to your advantage

“After you apply to a position, go to that company’s LinkedIn immediately. Click the ‘People’ tab, find the talent acquisition manager or HR manager, and send them a connection invite with a note,” she recommended in her 2-minute clip, which has received over 370,000 views.

She added: “Introduce yourself, let them know you just applied for XX position. You can kind of sell yourself with a couple … sentences there. Let them know your availability for a call.”

There are an estimated 771 million active LinkedIn users worldwide, according to 2023 statistics, with active membership expected to grow to 942.8 million in 2028.

“I’m always on LinkedIn, so when somebody applies and then connects with me and sends a note with that, I will read it,” Wiegerink shared. “And if it’s grammatically correct, maybe their resume is attached, they’re expressing their genuine interest, I will respond to you no matter what. A good recruiter or HR manager will respond to you.”
“After you apply to a position, go to that company’s LinkedIn immediately. Click the ‘People’ tab, find the talent acquisition manager or HR manager, and send them a connection invite with a note,” Wiegerink recommended in her 2-minute TikTok, which has received over 370,000 views.
“After you apply to a position, go to that company’s LinkedIn immediately. Click the ‘People’ tab, find the talent acquisition manager or HR manager, and send them a connection invite with a note,” Wiegerink recommended in her 2-minute TikTok, which has received over 370,000 views.@gretchenwiegerink/Tiktok

In the comments section of Wiegerink’s post, TikTokers laid bare their application struggles.

“I only apply to 3 jobs a day so I can put in quality applications. 0 response from HR managers,” one person lamented.

“I’ve been ghosted numerous by hiring managers after reaching out to them via LinkedIn message,” another person sighed.

“Maybe that company/hiring manager doesn’t care to give feedback,” Wiegerink responded. “If they don’t spend 10 seconds writing you back (even if it’s them saying they aren’t moving forward) maybe that’s someone you don’t want.”
 Five Importance of E-Commerce to Business (A complete Guide)

Five Importance of E-Commerce to Business (A complete Guide)

E-commerce has a great history since it was invented back in May 1989, when SequoiaData Crop introduced Compumarket, the first internet-based system for eCommerce.

There’s no doubting in it the opportunity of selling online has helped if not all several businesses earn more and grow successfully. Like any other business strategy, there are many plus points and the benefits of ecommerce can help one to excel.

In the emerging global economy, eCommerce has increasingly become a vital component of business strategy and a solid catalyst for economic development.

Today, everyone spends more time online than in any other place. From Startups to well-grown companies, everyone can benefit from an ecommerce website where their products or services can be sold online.

From startups to small and medium-sized businesses right through to huge brands, there are a large number of companies that can benefit from their own online store, where they can sell their own products/services.

This article was made to help you know more about the benefits of ecommerce, you’ll also find some of the benefits of having an online store.

What is ecommerce?

Ecommerce can be defined as the buying and selling of goods electronically online. Its popular because of the many benefits of ecommerce-internet marketing, electronic funds transfer, mobile commerce.

Faster buying process

Customers can spend less time shopping for what they want. They can easily browse through many items at a time and buy what they like. When online, customers can find items that are available in physical stores far away from them or not found in their locality.

This is where ecommerce comes to the rescue for many shoppers. They go online, search for an item, get a fast response and can buy it just as quickly.

Advantages of e-business include helping one to choose from a wide range of products and get the order delivered too. Searching for an item, seeing the description, adding to cart – all steps happen in no time at all. In the end, the buyer is happy because he has the item and didn’t have to travel far and spend money and other resources.

eCommerce Can Broaden Your Brand & Expand Your Business

Having an eCommerce store can be used to broaden your range of products/services for sale, expand your business, bring you more customers, and diversify your sales. Ecommerce helps you take your brick and mortar store online in a creative, more attractive, and easier way. When you offer quality products round the clock along with a dedicated customer support team, social media interactions, knowledge-base, blogs, etc, you are creating a strong online presence for your brand.

With eCommerce, there is no need to have more than one branch, just one singular online store allowing you to fully reach customers without having to worry about moving locations, you can just manage your online business from home.

It’s important to mention that, eCommerce will be helpful for Both B2C and B2B businesses to boost their brand awareness in the market.

Cost reduction

One of the biggest advantages of ecommerce to business that keep sellers interested in online selling is cost reduction. Many sellers have to pay lots to maintain their physical store. They may need to pay extra up front costs like rent, repairs, store design, inventory etc. In many cases, even after investing in services, stock, maintenance and workforce, sellers don’t receive desired profits and ROI.

To have an online store it is not necessary that you have all your products presented in a physical space. In fact, there are different companies that operate online where they only show all their inventory through their electronic commerce platform.

With an ecommerce store, a seller can reduce how much is spent in store upkeep. An ecommerce store is affordable and requires less investment when compared with a physical store. This is also a good opportunity for individual and small scale sellers who want to earn an income but don’t have the required start-up capital.

Lower business risks

Starting an online store can mean significantly lower start-up costs compared to a brick-and-mortar retailer. The retailer or the online business owner doesn’t have to take into consideration the high expenses of shop rental, hiring a salesperson to woo the customer, utility bills, security measures, etc.

This, in turn, will enable you to sell your products at competitive prices and increased profits, and also  lower your business risks.. Also, having an online store with price intelligence software enables you to enjoy increased profitability with less risk.

eCommerce Offers Better Marketing Opportunities

An ecommerce site is the best marketing tool any online seller can get. It helps in creating an authentic online presence for all other marketing options. With the increased use of the internet, there are many marketing tools available online such as Search Engine Optimization or SEO, email marketing, social media marketing, Pay Per Click or PPC ads, and Search Engine Marketing or SEM. 

For example, with good SEO, your online store will appear in the top results of SERPs. Also, social media networks will provide you with a platform to engage and build trust with your customers through reviews and ratings, as well as keep them informed with regular posts about your products and offers.

Several payment modes

Today, operating over the Internet is almost safer and more reliable than doing it in a physical store. From your home, without anyone spying on your secret number or your credit card. Of course, the eCommerce website must have an SSL certificate.

Ecommerce marketplaces permit multiple payment modes that include UPI, cash on delivery, card on delivery, net banking, EMIs on credit or debit card and pay-later credit facility. What this means for sellers is that they no longer have to lose a potential sale opportunity due to lack of available payment modes.

Faster response to buyer/market demands

One of the great importance of eCommerce that eCommerce retailers can enjoy is store timings are now 24/7/365 as the eCommerce stores are open 24 hours a day, 7 days a week, compared to the regular stores.

Ecommerce marketplaces offer you a streamlined logistics or delivery system. What this means is that the buyers order gets delivered efficiently. Product returns management is one more plus point that can be handled quickly – you either refund the payments or give a replacement. Speedily actions can even be applied when responding to market demands.  

Merchants can create deals, promotions quickly too. This attracts customers and increase chances of creating more sales. Ecommerce sellers may plan and apply coupons when they like – even customise such offers for their own store. In this way, retailers can increase their sales by boosting their number of orders.

The Top 5 Success Factors of eCommerce

The importance of eCommerce for your business can’t be denied, and therefore, check the top 6 factors in eCommerce success:

  • High-quality products are important in order to keep your customers loyal to your business, make sure you procure your goods from trusted suppliers.
  • The product pricing is important, you don’t want it to be too low for customers to doubt the quality of it or too high that they can’t afford to buy it.
  • Make your store accessible on many devices such as mobile devices. You can do things to make your online store viewed better on mobile devices like optimizing your images and using responsive design.
  • A first impression lasts forever, so make sure you have a good-looking website and make the best eye-catching designs if possible.
  • Lastly, security is a top priority. It is one of the main concerns with eCommerce for consumers and business owners, as their personal and financial information is being handled online.

Therefore, make use of SSL in order to secure your customers’ online shopping experience. This will not only be necessary for the customer’s business account but to use of even more sensitive data such as credit card information with complete peace of mind.

SSL certificates can be either single-domain, low-cost or cheap wildcard SSL, multi-domain SSL, or code signing certificates. It totally depends upon the targeted domains and subdomains that require a particular type of SSL certificate.

Selling Online? Try This Now

  • Try using some awesome product description content like image rich flyers, good resolution images, videos.
  • Address all questions/ queries that a customer might have about your item details. Provide them more confidence about their purchase.
  • Keep reviewing buyer feedback, reviews, on the order information or delivery process. This gives you a fair idea of how well your sales are and if your buyers are happy.
  • Try to accept as many payment modes as possible as this offers your customers greater flexibility.
  • Build your own sales strategy and customise it. This all depends on the item you’re selling, number of customers you have, price points etc.


In a nutshell, it is pretty simple, easy, economical, and risk-free way to sell online with an ecommerce website or store. So long as you pick your products/services wisely, have an appropriate business plan, picked up the right partner to help you build your own store, There is a great potential of increased revenue and high ROI over the long term. 
Top 10 Profitable Small Business Ideas in Netherlands

Top 10 Profitable Small Business Ideas in Netherlands

First of all, it's good to know that Netherland's is an expensive country, so the initial startup capital or the amount you intend to invest can be quite high but you don't to worry. Some businesses are better for certain markets than others. The Dutch market is very specific. The success of most businesses are subjective to the region where they are launched.

Irrespective of where you live, service-based businesses are the best types to start that require minimal or no capital. The main form of capital you need for these businesses is a skill.

1. Healthy Vending Machines

The pandemic brought health into focus for most people. Sitting at home during the extended lockdown and due to work-from-home options people into a sedentary phase. Lots of lifestyle diseases and obesity has set in for the masses. Hence now people are searching for healthy solutions and want to know how to change things around.

In countries where the quality of life is good and basic requirements are met on a regular basis now focus is on the quality of their lives.

In Netherlands people are crazy about health. Most people care about their well-being, exercising regularly, eating healthily, doing yoga and meditating. Vending Machines for healthy food is a great business idea. You can put up super foods, water with electrolytes, and healthy snacks in it. But this certainly counts for healthy investment to the tune of $30000 to start with.
  • If you are a foreigners and you would like to start your entrepreneur journey here in Netherland, you can follow these fully listed procedures to start a business in the Netherlands:
  • Register the company’s name.
  • The registration form can be completed in a few hours, but the Tax Identification Number (TIN) will take two to six weeks to be issued by the tax office.
  • Choose a legal entity where the business will operate under.
  • Reserve the trade name based on post-verification with the Trade Register.
  • Draft and prepare incorporation documents for the company.
  • File the incorporation documents with the Trade Register (this is also applied to the tax and VAT registration).
  • Register as an employer and obtain all business license according to the sector of activity.

2. Bicycle Repair

There are over 800 000 bicycles in Amsterdam itself, so definitely there is a market for bike repair. I’ve seen people doing mobile bicycle repair and that’s also a good idea. I wouldn’t start with it in the city center. I’ve been living in the suburbs and I’ve seen this old man repairing bikes every day, all day. There was always a lot of people coming to his little bike shop. He had two garages. In one of them, he was repairing bikes and in the second one, he had some bikes for sale. He was quite pricey but still, he had a lot of clients.

But launching a cycle repair facility in the city center may not be a wise decision considering the costs. It is a good idea to start off in the suburbs as it would reduce you initial investment and business could be brisk in such regions.

There are many options when it comes to bike-related domains. You could look at bike rentals, import, export, customization, sale of bicycle gear, etc. You could also offer bikes to students free of cost, and then you could place ads on them. Now these spaces for ads can be rented out to businesses for advertisement purpose.

3. Food Truck/ Catering

That’s a great idea for a beginner entrepreneur. If you cook at home you don’t need much investment. It is a profitable business opportunity because you are a chef who prepares special foods.

I was helping someone with starting a home-based catering business. I was so surprised when I called Amsterdam city hall and they informed me that you don’t need any license for that kind of business. You just need to create a HACCP food safety management system and register your company. It’s very easy to start with catering. I believe that even if you only bake cakes and you do a great Instagram profile you will get a lot of clients. The key is marketing!

In fact in Amsterdam there is even a festival dedicated to food trucks called Rollende Keukens. As your business improves you can hire a cook. This business ideas in Netherlands is profitable, but it demands dedication and hard work.

4. Sell souvenirs

The Netherlands is a touristic country. If you live in places like Amsterdam you can consider a souvenir business. Even if you don’t live in a very touristic city you can create some souvenirs and then sell it to souvenir stores. Just create a fun product, Instagram account, and a little website. 

I am sure you will find someone to buy your goods. I’ve seen also people selling souvenirs from the Netherlands on Amazon. If you know how to make some woodwork that can be a way to go. You can also make some easy Tshirts with catchy writing. When it comes to Amsterdam you can sell some cannabis-related stuff. My friend sells cannabis jelly candy. They don’t have any THC but tourists buy them as souvenirs.

You can set up an online store to sell whatever you want such as clothes, electronic gadgets, souvenirs or even services. The best advantage about this business is that location is not a constraint.

Costs for starting a business is low and all you need is a laptop, or even a second-hand computer will do. If you are running out of ideas, no worry, there are plenty of courses online. In fact you don’t even have to pay for knowledge, most information is available online.

5. Become a Coach

If you are good at anything, tennis, golf, you know sales, finances, design or any other skill, you can become a coach. People always dwell and think they don’t know enough to teach others. But the truth is that you don’t need to be the best in the world to teach others. The most important is that you know more than your client. People just need someone who will guide their growth and track their results.

Today a lot of people struggle with self-esteem, productivity. Many people want to be the best version of themselves and there is a place for a life coach. If you want to scale as a coach you should think of an online course in your field.

6. Social Media Agency

Nowadays everyone wants to be a star online. Remember it is imperative to promote your business online. Anyone with a business should look at the social media in all seriousness. It is advisable to have an Instagram account, a Facebook profile and learn how to optimize a website. You can in fact learn all this online.

But having a good knack on how to make yourself and your business visible on the social media will pay great dividends. Over and above you can learn all this online via YouTube as well. There are many videos and professional blogs to help you master the social media.

After you have learnt the basics, you could approach businesses that need help with their social media. Search local businesses online, such as restaurants, travel agencies, grocery shops, bike-shops, bookshops, etc. and begin helping few of them freely. After you have created a portfolio and learnt the basics, you can begin charging for your services.

Keep on the lookout for clients and if you are doing well you can hire someone to work for you. Your business can sale quickly as there is still a lot of space for everyone. If you look at certain websites and their social handles we would be appalled. You don’t need overtly professional, just make it better than how it is now.

7. Laundry Service

Service of Laundry, the wash guy business, which requires washing loads of cloth for clients and earning in return, is in high demand in the Netherlands. Laundromats and Laundry services are one of the few businesses that are yet to be completely snuffed out by the big boys of the industry and still is a fighting hope for the new and small business owners to live for.

The success rate for laundromats stands at 90%+ and is a great way to make money and have a successful career. However, it is important to make sure that your laundromat stands out from the rest.

“It is key to come up with innovative ideas and strategies that will help you attract customers and keep them coming back and spread good word.. I use technology to provide exceptional customer service and experience and strategies like this will help you stay ahead of the competition and ensure long-term success for your laundromat.”

8. Open Clothing Store or a Boutique

The fashion and clothing business has been recorded to have been one of the rated exporting businesses in the Netherlands. Starting a unique boutique business is a business that sells a variety of clothing for men, women, teenagers, and infants, such as belts, suits, shirts, blouses, and skirts. 

It is recommended that you establish your company in any of the cities in the Netherlands if you really have an interest in the fashion and clothing industry. Fashion designers like Iris Van Herpen and fashion brands like G-star and Gus are some of the most lucrative and flourishing fashion and clothing businesses in the Netherlands.

9. Sell Coffee

According to this research, Dutch people are the world’s biggest coffee drinkers. That’s true, coffee is everywhere and I think there is still some niche in the coffee market where you can invest. For example, you can get a big thermos and put it on your back and sell a coffee in touristic areas or during the events!

And moreover, coffee cafe is a mandatory daily drink in the Netherlands; it is hot liquids that keep the body warm and sound; it is a little business that is popular in the Netherlands and brings in a lot of money every day.

10. Buy An Existing Business

Enterprisers who want to start businesses in the Netherlands have many options, as this country is one of the most open states in Europe and the European Union when it comes to entrepreneurship. From companies in tourism, IT, research and development and green energy, the Netherlands also offers incentives to those opening companies here.

One of the most prolific business sectors which has emerged in the last few years in the Netherlands is air conditioning and plumbing, as the number of householders requesting remodeling services has increased.

Those who want to set up plumbing and air conditioning installation services companies must comply with certain regulations.

The registration of a business which offers plumbing and air conditioning installation services in the Netherlands is straight forward and does not need any special licenses.

Wrap Up

If you don’t want to start from scratch and you have some money for the investment you may consider buying an existing business. You can search for some online. There are plenty of websites selling businesses, but to be honest I wouldn’t do that. In fact, the most exciting part of the business is at it’s beginning before it becomes so bureaucratic and organized.

I hope that these ideas give you some inspiration. Now if you think that you have an idea for your business you have to work. Remember that ideas are worth nothing until you put a lot of work in it.
 Best Profitable Businesses to Start in Canada (Most Successful)

Best Profitable Businesses to Start in Canada (Most Successful)

Are you looking for business ideas in Canada with low investment? Do you want to know what the most profitable business in Canada is? Canada offers a wide range of opportunities for entrepreneurs looking to launch their small businesses from home.

With the rise of the internet and digital technologies, it has become easier than ever to turn a passion or skill into a profitable venture.

Every year, nearly 100,000 entrepreneurs launch their own small business in Canada.

According to the Government of Canada website, between 2014 and 2018, the average number of small businesses created in the country was 97,640.

There is endless opportunity in this great country to start your own business. However, just because you start a business, doesn’t mean it will succeed. The average number of small businesses that dissolve in Canada is 89,227.

So, if you’re looking to start your own company, what do you do to ensure its success?

One of the most effective strategies is to start with the right business idea.

In this article, we’ll cover everything you need to know about the best businesses to start in Canada even if you’re new to the country.

You’ll learn what the best industries are, what the most profitable businesses are, and how you can secure funding to start a business here.

With that said though, the best business that you can start is something you are good at like, a catering business, car wash business or lawn mowing. You’re going to need some capital to start your business, depending on what you choose to start. There are plenty of different ideas and options to still consider, so let’s dive in.

This big list of profitable business ideas provides a great entry point whether you are a beginner, a self-starter, or anyone with a tight timeline.

1. Catering

One of the most profitable businesses today, the catering market was predicted in late 2022 to reach $3.78 billion.

It is a low-investment business idea where your startup costs can range from $5,000 to $50,000, depending on the type of catering business.

Register your business and obtain the required permits and licences. Create a menu based on your target market and provide packages and custom requests.

Catering services in Canada earn an average of $57,174 a year.

If there’s one thing all people love—it’s food. It’s something that brings people together. And, when people are brought together for other reasons, such as a celebration, there’s always food involved.

That’s why catering is one of the best businesses you can start with a small investment. Catering isn’t only needed for birthdays and weddings. But, they’re also great for small get-togethers and parties.

If you have a passion for cooking and an attitude of serving, then this could be the perfect business for you. Plus, it can pay really well.

2. Provide HVAC Services

The Heating, Ventilation, and Air Conditioning (HVAC) industry continues to thrive as people constantly need heating, cooling, and ventilation in their homes and businesses all year through.

To start an HVAC business, check with your city or municipality for the needed permits or licences. As HVAC is regulated, technicians must be fully certified and have completed apprenticeship programs.

Experienced HVAC technicians in Canada can earn up to $85,800 a year, while the average salary is $466,360 per year or $34.03 per hour.

3. Mobile Car Wash Services

With an investment as low as $25,000, you could start your own mobile car washing business.

If you have a passion for cars, and you want the freedom and flexibility that comes from owning your own business, then a car wash business could be a great opportunity.

4. Set Up a Coffee Stand

Coffee continues to be a big business in Canada, with the hot coffee market valued at $23 billion in 2021. It is the best business in Canada for immigrants and locals who love coffee.

You can start your own coffee stand or purchase a coffee cart business for approximately $20,000.

To set up a cafe in Canada, register your business, obtain licences or permits from your city or municipality, pass inspection, and get approval.

The national average income of cafe owners in Canada is $49,785 a year.

5. Exam Coaching

Exam stress is a major issue for numerous students, resulting in anxiety and physical symptoms. Coaching services for exams can offer valuable assistance to those who are struggling.

By becoming an exam coach, you can teach effective techniques to help students manage their stress levels and improve their memory recall abilities.

Under your guidance, students can learn to use breathing exercises and other strategies to ease their nerves during exams.

Furthermore, you can assist them in developing and executing effective study plans in preparation for their exams.

6. Cleaning Business

Cleaning can be one of the most inconvenient tasks for people. In fact, so many people despise cleaning that they’re willing to pay other people to do it for them.

That’s where the opportunity is for a potential business owner.

You can start a cleaning business in a variety of niches. You could concentrate on home cleaning, office cleaning, window cleaning, or even air-duct cleaning. It’s a relatively simple service business that could easily be scaled by hiring cleaners and gaining new recurring contracts.

7. Provide Technology Repair Services

Experts predict the electronics and computer repair industry revenue to reach $1.7 billion in 2026, with technology repair companies achieving higher profits by specializing in niche services.

To enter the technology repair trade, you must obtain specific certifications, such as CompTIA A+ or Server+, which allow you to work with businesses.

The average base salary of an electronics technician in Canada is $24 per hour. In Burnaby, BC, the hourly rate is $37.53.

8. Offer Accounting Services

Accounting is a sought-after and financially rewarding career in Canada, with the Government’s Job Bank expecting strong prospects for accountants until 2028.

To start an accounting business in Canada, you can take advantage of the strong demand and promising financial rewards in this field. Register your practice, apply for an Employer Identification Number (EIN), obtain insurance, and acquire the necessary permits and licenses.

According to the Government's Job Bank, accountants are expected to have strong job prospects in Canada until 2028.

In Ontario, the average salary for a Certified Public Accountant (CPA) is $185,000, while the median salary is $130,000.

To launch an accounting business, register your practice, apply for an employer identification number (EIN), get insurance, and obtain the required permits and licenses.

What Business Can You Start With 50k in Canada?

The truth is, you need to have money to make money. This holds true for starting your own business.

And, while some businesses require hundreds of thousands of dollars—or even millions to start up, you can launch a wide variety of businesses with as little as $50,000.

Here are some of the best businesses you can start with $50k in Canada:
  • Gourmet Coffee Kiosk (Mobile Coffee) 
  • 3D Printing 
  • Dance Studio 
  • Bakery 
  • Catering 
  • Food Truck
  • Pet Related Business 
  • Editing Services 
  • Tanning Salon 
  • Fitness Boutique
  • Vending Machines 
  • CBD Business / CBD Vending
  • Cell Phone Repair
  • Co-Working Space
While these are some of the top businesses to start in Canada with only $50k, there are hundreds of others you can start with just a few thousand dollars.

If you need help funding your business venture, click here.

Work From Home Businesses and Side Hustles

If you’re looking for work from home business, or even a side hustle, with today’s technology, the sky’s the limit. With that in mind, here are some of the most popular and most popular options.
  • Freelance writing
  • Transcribing
  • Becoming a virtual assistant
  • Teaching languages
  • Narrating Audiobooks
There are plenty of other options out there as well, but these are the most popular currently.
How to Get Small Business Loan in Nigeria Without Collateral

How to Get Small Business Loan in Nigeria Without Collateral

Startup business loans aren’t a specific type of loan; rather, they are any type of loan used to open a new business. You might need this money to help develop a product or service, hire employees, lease space or equipment, and buy inventory. Startup loans can also include funding for businesses that have opened their doors but are still in the earliest stages.

Startup loans generally don’t require business credit or high revenue—lenders know they’re lending money to support a new idea. However, your personal credit and experience in the industry can affect your eligibility and loan terms. You can also use different types of financing to support your business. Here are nine common options.

What credit score is needed for a startup business loan?

The credit score you need for a startup business loan can depend on the type of loan and the lender, but having a personal credit score that’s at least in the high 600s (the maximum is 850) can be helpful. However, some types of financing, such as crowdfunding, don’t require good credit.

How to get a startup business loan

  • Create a business plan.
  • Evaluate your personal credit.
  • Compare different types of financing.
  • Apply for financing.
You may want or need multiple rounds of funding to get your idea off the ground, and the specifics will depend on the options you choose. However, the basic steps start with preparing your pitch, reviewing your qualifications, and seeing what you can qualify for at the time.

Create a business plan. Lenders want to see that you’ve thought through the challenges and opportunities that will come with your new business. Include any relevant information about your experience running a business or working in the industry.

Evaluate your personal credit. Your personal credit may be a factor in whether you qualify for financing and the rates and terms you receive. Many free apps and financial accounts let you check your credit scores for free. See where you stand and what you can do to improve your credit score.

Compare different types of financing. Consider how much money you need, when you need it, and how much you can afford to repay as you review the options and home in on your top choices.

Apply for financing.
Review the eligibility and application requirements and apply with several lenders or organizations. Compare the offers you receive to determine which will be the best fit for your business idea.

Online business loans are often term loans, which means you receive the entire loan amount when you accept the loan offer and then make regular payments over a predefined term until the loan is repaid.

Online lenders may also have easier qualifications and a faster application process than traditional lenders, and they might use modern techniques (such as connecting to and analyzing your bank account) to determine who qualifies.

One of the strongest barrier startups face is in providing collateral for a loan. This is because startups, most times, do not have existing assets, which disqualifies them from the majority of commercial loans.

No Collateral Required
The Smart Business Loan is structured to provide access to loans of up to N20m without collateral.

Flexible Repayment
The repayment plan can be structured to suit your business and flexible for up to 2 years.

Easy access to the loan through our digital application forms and automated repayment process.

Top-up is available
If you need additional financing during your loan tenor, we can offer you a top up after 12 months if regular repayments are made.

The Nigeria bureau of statistics has stated that these MSMEs and SMEs contribute to over 50% of the country’s GDP employing about 80% of the country’s workforce. Despite this, MSMEs and SMEs still struggle to access adequate credit, with only about 5% of these businesses having access to funding and credit.

These statistics are probably not so far-fetched as you may know a few yourself that haven’t been able to get credit. For this reason, many business owners have had to squeeze themselves dry to get started. They used their savings, borrowed money from family and friends, and even sold properties just to get some capital. Truth be told, finding credit can seem like looking for a needle in a haystack, but it doesn’t have to be.

In this post, we’ll teach you how to get a small business loan in Nigeria, so your small business can expand and truly reach its potential. If you are new to the business world, we will also talk about ways to obtain a loan for startup business in Nigeria.

Ways to procure loans for small businesses in NigeriaAccess to small business loans, especially business loans without collateral is not as common as most would think, but there are still a few safe and secure ways to get loans. We’ve outlined the main ones below.

Loan Apps

This is the fastest and most common way of getting a loan for start-up businesses in Nigeria. Loan apps usually take about 5 – 10 minutes to decide on your loan package and if you should be given a loan. Loan amounts range from ₦250,000- ₦10,000,000. Majority of the time, these apps don’t require collateral & offer collateral free loans for business. They only use your credit score to determine if you are likely to pay back.

Pros of loan apps

  • They are fast. 
  • They give substantial amounts of money
  • No collateral needed
  • No need to go to a branch. 
  • You only have to download an app.

Cons of loan apps

  • They often have only one physical branch
  • You may not get the amount you want. 
  • The app decides the amount it can trust you with.

Even though loan apps give some of the best small business loans, you still need to do your due diligence. Do not download just any app on the app store instead, check out this list we’ve compiled on the top loan apps in Nigeria and pick a loan app partner based on your needs.

SBA loans

The US Small Business Administration (SBA) doesn’t offer most SBA loans directly, but it partially guarantees loans offered through participating lenders. You can apply for different types of SBA loans depending on your business and how you plan to use the funds. Although the application and approval process can be lengthy, the guarantee can also make it easier to get a substantial loan on favorable terms, even if you don’t have great credit.The SBA 7(a) loan program is one of the most popular programs and offers up to $5 million in funding. In 2021, about 17% of SBA 7(a) loans went to startups.

The SBA 504 loan program could be a good option if you’re buying real estate or equipment, but only 10% of those loans went to startups.

The Community Advantage loan program is for businesses in underserved markets, and 45% of these loans went to startups in 2021.

The SBA microloan program offers up to $50,000 to start or expand a business, although the SBA doesn’t say what share of those went to startups.

The SBA also has a lender matching tool you can use to find participating lenders and compare loan offers based on your specific needs.


Before loan apps, banks were the number one place small business owners who wanted to grow their businesses go to get loans. Although they are trustworthy, loans from banks usually come with high-interest rates and a request for collateral. This often discourages startups from getting loans. However, start-ups can request business loans from banks, if the owners have a good track record and can provide sufficient collateral.

Pros of banks

  • Trustworthy 
  • You may get more loans as you build credit with them.

Cons of banks

  • High-interest rates
  • Lots of documentation and need for collateral
  • Long processing time

Government loan schemes

The Nigerian government has established a few bodies to help MSMEs and SMEs. Examples of these bodies are the Bank of Industry (BOI), Bank of Agriculture (BOA), Development Bank of Nigeria (DBN), Nigerian Export-Import Bank (NEXIM), and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

They were established to give grants, and low-interest loans to MSMEs and SMEs in Nigeria. Here are their pros and cons.

Pros of Government loan schemes

They offer grants or low-interest loans
They focus on MSMEs and SMEs
They sometimes offer collateral-free loans for business

Cons of Government loan schemes

Competition is high, so they are difficult to get


Online crowdfunding platforms can help you organize a campaign and raise money from strangers and people you know. There are four common types of crowdfunding: debt, equity, donation, and rewards.

With equity you’re raising money in exchange for a portion of your business, while with a loan or bond you’re taking on debt that must be repaid with interest. Donor crowdfunding, like GoFundMe campaigns, isn’t often used by startups because you have little or nothing to offer in return. But you could consider a rewards-based campaign and offer donors one of your business’s products or services in exchange for their contributions.

Online apps for small business loans

Loan apps in Nigeria are known for their speed when it comes to loan approval and disbursal. They don’t require you to go to a place or present numerous documents. All you need to do is download the app, sign up and request a loan.

This is especially good for small businesses that need money to sort out business emergencies or for businesses just starting out with no social proof and no collateral.

Here is a list of the top loan apps that give loans without collateral:

FairMoney MFB: FairMoney’s main appeal is that it is a full-fledged digital bank that gives loans of up to ₦3,000,000. This means you can sign up to get a loan on the FairMoney app in under 5 minutes and increase your chances of getting a higher amount by banking with FairMoney and enjoying other benefits. 

Here is a detailed review of FairMoney. Check out more details about FairMoney loans here.

Branch: Branch prides itself on offering quick collateral-free loans. They have over 10 million downloads and their loans require no documentation. 

Kuda: They offer loans called “overdrafts”. They can only be given to people who have been using Kuda for a while. The overdrafts typically accumulate a 0.3% interest daily.

RenMoney: They offer loans to both individuals and start-up businesses in Nigeria. Their loan offer is currently maxed out at ₦6,000,000Carbon: Carbon typically helps customers buy commodities and allows payback in instalments at a later date. The repayment period is usually 3-6 months.

These apps have made it possible for the average credit-worthy Nigerian to start and grow business/businesses in Nigeria.
10 Best Sales Strategies to Increase Sales Fast | Most Effective for Success

10 Best Sales Strategies to Increase Sales Fast | Most Effective for Success

A sales strategy is defined as a documented plan for positioning and selling your product or service to qualified buyers in a way that differentiates your solution from your competitors. A sales strategy is also a set of decisions, actions, and goals that inform how your sales team positions the organization and its products to close new customers. 

Sales strategies are meant to provide clear objectives and guidance to your sales organization. They typically include key information like growth goals, KPIs, buyer personas, sales processes, team structure, competitive analysis, product positioning, and specific selling methodologies.

Most of these guidelines are helpful for communicating goals and keeping your sales reps on the same page. Where most sales strategies fall short, however, is that they’re too focused on the internal workings of your organization. The actual skills needed to have winning conversations with buyers—along with the messages reps need to be successful—are merely an afterthought.

When you boil it down, the goal of every sales strategy is to make sure your salespeople hit their quota, right? And it’s the messaging element—what salespeople say, do, and write in order to create perceived value—that wins or loses the deal.

To truly be effective, your organization’s sales strategy needs to focus on customer conversations. These skillfully delivered conversations are what creates a distinctive purchase experience, demonstrates value for your buyers, and separates your company from the competition.

How do you create the best and most effective sales strategy? You can’t just hope someone will stumble upon your product and purchase it, though. But the only way a business succeeds is by earning customers and growing sales from that service, product, or information.

The problem is, most sales strategies are too internally focused. They succeed in documenting internal procedures but lose sight of the messages and skills your reps need to communicate value to your prospects and customers.

Consider the following insights when creating a sales strategy:

  • Research from SiriusDecisions shows that the number-one inhibitor to sales achieving quota is an “inability to communicate a value message.”
  • In corresponding research in which SiriusDecisions asked executive customers about the quality of interactions with salespeople, only 10 percent said sales calls provide enough value to warrant the time they spent on them.
  • A Forrester Research study revealed that only 15 percent of sales calls add enough value, according to executives surveyed.
  • The Forrester study also showed that just seven percent of surveyed executives say they would probably schedule a follow-up.
In this guide, we'll dig into some sales strategies and initiatives that can help you generate more leads and close more deals. If you can improve every step of your sales process by even a little, you can increase sales by a lot.

1. Clearly Define Your Customer

First, you need to know who you’re targeting. Who is the person who would most likely buy your product and buy it immediately?

Create an avatar of that customer. Ask yourself specific questions about them:How old are they?
  • Are they male or female?
  • Do they have children?
  • How much money do they make?
  • What are they interested in?
  • What are their priorities?
Knowing the answers to these questions will help you create more accurate messaging around your product and target the right audience in your marketing efforts.

Identify The Problem You’re Trying To Solve

When you’re sure you have a clear understanding of your ideal customer, their pain points, and their desires, then you can understand how you can help. This is commonly referred to as consultative selling, where you consult with the customer and find out what they need.

What problem does your product or service solve? How does it address the pain point of your customer?

If you have identified your customer correctly, and know how your product helps solve their problem, they’ll buy it from you. If, however, the customer you have defined doesn’t have this problem, they won’t buy your product.

All great success and all great fortunes come from serving people with what they want and are willing to pay for better than someone else. By adopting a “help” rather than “sell” mindset, you can understand how to serve people better and provide incredible customer service.

Try The 100-Calls Method

If fear of rejection is what’s keeping you from starting sales conversations, I have an exercise that will help you gain more confidence and generate more leads called the 100-call method. Reach out to 100 customers as fast as possible, either by phone call or personalized email.

The goal is to practice talking to people, not necessarily to see results — though that may happen!

When you do this, you’ll not only become fearless of picking up the phone but you’ll also learn how people respond to your pitch and become a better salesperson because of it. Just be sure not to sacrifice the quality of the call just to check it off your list.

You never know who could turn into a paying customer.
Utilize Ads

Sometimes it makes sense to spend money in order to make money, but it doesn’t have to take a lot. With the right ad, even a small budget can be effective and increase leads. You just have to know who your audience is, where you want to reach them, and for how long. Consider Google, Facebook, and Instagram ads, depending on where your customer is at.

When utilizing ads as part of your strategy to increase sales, it’s a good idea to run tests. Ad tests will help you learn the process of creating ads, help you better understand your audience, and ensure your budget is put to good use.

2. Speak to the customer deciding journey, not your sales process

A sales process is a set of repeatable steps that a salesperson uses to lead a prospect to purchase. Typically, the sales process involves several steps like prospecting, qualifying, discovering needs, negotiating, and closing. This would be an ideal checklist to follow if all your buyers were robots being taken through an assembly line. But that’s just not the reality.

Selling today isn’t a predictable progression that you’ve decided is how your prospects and customers should buy. What you’re really up against today is a Customer Deciding Journey—a series of key questions your buyers are asking as they look to address specific business goals.

Instead of being “program-centric” with a one-size-fits-all sales strategy, you need to be problem-centric, addressing the specific needs of your buyers as they arise with situationally relevant messages, content, and the skills to deliver them.

3. Implement a free trial.

Offering a free trial or freemium version of your product is a highly effective way to convert prospects. HubSpot’s sales strategy report found that free trials were 76% effective followed by a freemium option with 69% effective in turning prospects into paying customers.

Free trials give potential customers the opportunity to test your product out before committing. You can place restrictions on your free version like limited features or usage caps. In addition to providing prospects a risk-free chance to try your product, free trials also help build brand loyalty and expand your customer base. Prospects that have a positive experience using the free version will be more likely to convert to the paid version.

4. Increase Sales By Presenting The Product Effectively

Presenting your product effectively will help you increase sales by increasing conversion rates, the rate at which you convert leads into paying customers.

Your conversion rate is the measure of the effectiveness of your sales efforts. In order to help drive conversion rates, you need to work on developing your pitch in a clear, effective way. Here’s how to do that.
Develop Your Competitive Advantage

The odds are good that you’re not the only one selling your specific product or service. So it’s critical to be able to explain the benefits or results your customers will receive from purchasing your product or service that they will not get when purchasing the product or service of your competitor.

In order to develop your competitive advantage, you need to know what else is out there.

What are your competitors’ claims? What are the benefits they’re selling? How is what you’re offering different?

You should be able to express why people should choose your product or service over others on the market if you want to be growing sales.
Pick The Right Price

The price you set for your product or service is important. Not only does it affect your profits, but it also affects the perceived value of what you’re offering.

Before you determine it, you need to fully understand the costs associated with producing the product and get a feel for what your ideal customer would be willing to pay for it. You also need to know what your competitors are charging for similar products or services.

One of the best sales strategies is to beat your competitor’s price, however, you also have to make money. If you can make your product seem superior to your competitors, you may be able to charge a higher price. Keep this in mind and use it to help you set the perfect price.
Make Sure Your Messaging Is Clear

When it comes to learning how to market a product or service, clarity is critical. Pick one to two key benefits that your product offers and state them clearly in all the content that is part of your sales and marketing strategy. This will ensure the story you’re telling about your product is aligned across all of your marketing channels and your customers know exactly what it is you’re selling.
Market Content On Multiple Channels

As part of your ongoing strategy to increase sales, you should be continually seeking creative ways to improve your advertising and promotional efforts to reach new customers.

There are so many mediums out there including Twitter, Instagram, Facebook, LinkedIn, TikTok, Youtube, email, blogs, podcasts — even traditional print materials such as magazines and newspapers — that can get your message and product out to the right audience.

5. Provide a personalized, clear end result.

When customers come to your business, they aren’t necessarily looking for a product or service, they’re looking for their desired end result. These customers want to purchase a means to improve their own operation, or simply improve their strategies with the help of your offering.

After you explain your product or service offering, you have to personalize the benefits to each client in a way that’s valuable to them. If you’re selling customer service software to a small business that has no experience with one, it’s your job to educate them on its use in the setting of a small business, not to manage hundreds of employees in larger ones. By doing so they will have an easier time seeing how they can use it and spend less time debating what they’ll use it for.

By painting a clear picture of the end result, your customer will be able to see the value of the purchase and feel more inclined to accept the offer.

6. Be willing to adapt your offering.

In sales conversations, you should expect to come across clients with unique demands. It’s only natural when working with companies of different structures and needs.

Instead of saying “you won’t” or “you can’t” — make sure your sales strategy is adaptable to accommodate the customer’s desire.

7. Tailor your sales strategy for customer expansion

Most sales and marketing teams spend the majority of their budgets and effort on customer acquisition and demand generation. Meanwhile, the majority of your annual revenue likely comes from your existing customers, through renewals and upsells.

Nearly half of the companies surveyed by Corporate Visions invest less than 10 percent of their marketing budgets in customer retention and expansion. Clearly, your customers are highly underrated yet powerful growth engines within your company. And you shouldn’t overlook the potential of this untapped revenue stream.

The challenge is, retention and expansion require a distinct messaging and customer conversation approach. Existing customers are in a different position than your prospects—one that carries a unique buying psychology.

While customer acquisition is all about challenging the status quo to highlight the benefits of switching to your solution, customer retention and expansion require you to reinforce your position as their status quo. In fact, research shows that using a provocative, challenging message when you’re trying to renew or expand business with your customers will increase the likelihood that they’ll shop around by at least 10-16 percent.

8. Increase Sales By Investing In Yourself

Improving your ability to sell and convert interested prospects into paying customers is one of the most important things you can do to boost sales. There are many parts of the selling process and improving in even one of them can have a dramatic impact on your results.

Attend Sales Trainings

Some people are naturally good at selling; they can easily connect with a customer, find common ground, understand their desires, and persuade them to purchase their product. These skills don’t come easily to everyone, though.

In fact, the majority of salespeople have to learn, practice, and hone these skills over time to become successful. Even if you’ve worked hard to become the salesperson you are today, you’re never done learning.

Sales training can open your mind to new opportunities others have seen success with, allow you a chance to network with other creative salespeople, and even generate new leads or partnerships.

Learn How To Negotiate

At some point in your sales journey, you’re going to run into someone who wants a lower price or additional benefit, or a situation where you’ll have to compromise.

Learning how to negotiate can not only help you improve your relationship with your customers but can also help you drive more sales. The best negotiators look out for their customer’s best interests and find a solution that works for both parties.
Develop A Prospecting Strategy

The best salespeople have a plan to develop the highest quality and quantity of prospects that can and will buy within a reasonable period of time.

Prospecting is an essential part of successful sales strategies and something you need to prioritize if you want to increase sales.

If your sales strategy is lacking this critical component, or your prospecting tactics are falling short, I’ve created an essential prospecting checklist that will help you focus your attention on the prospects that will have the maximum return.
9. Enable ongoing situational training

Most training and learning efforts are based on a collection of competencies, supported by a curriculum and catalog that gets scheduled on calendar-based interest and availability. But what does that have to do with helping the company’s business strategy, responding to shifting market demands, and intervening to fix emergent needs when they arise?

To be as effective and efficient as you need to be today, your sales training has to rise to a new level of flexibility, customization, and situational relevance. Using a flexible, on-demand training model enables you to deploy it at a moment’s notice to solve problems as they occur, and tackle initiatives as they arise. Training your sales team for situational agility equips them with the messaging and skills they need relative to the customer conversations they’re having.

10. Increase Sales By Connecting With Your Customers

Establishing trust with your customers is key to ultimately persuading them to purchase what you’re selling. Even in an increasingly virtual world, there are many ways to connect with your customers, establish trust, and gain influence.

Here are three ways to improve sales by connecting with your customers.

Utilize Social Media

Social media is a free space where you can connect with your customers daily. If your customer is using social media, you need to be using social media. This will keep you top of mind when they consider what they want or need to buy.

As you use social media posts, such as photos, videos, and captions, be sure to provide valuable information; avoid talking “at” your customers and instead try to teach them or explain something to them that is in line with what your product or service is all about.

You can also use social media as a space to show proof that your product or service actually works, such as before and after stats, photos, or testimonials as well as videos of the product or service at work.

Don’t forget to respond to comments and answer questions. This is an amazing way to help sell to new leads.

Remember to be friendly and conversational as you approach your customers and potential customers in this space. If you use it correctly, you can establish trust and increase your leads.

Promote “Insider Information”

Everyone loves a good deal, and when they feel like they have the inside scoop on an upcoming sale, or receive early access, your customers will develop greater trust in and loyalty to your business. They may even buy more because of it.

This doesn’t only go for sales and special offers. Keep current and repeat customers in the loop with upcoming launches and business news too, and soon, they’ll develop a vested interest in the business.

Maintain Relationships

“Once a customer, always a customer” — this should be your motto if you want to learn how to increase sales in business.

Once a customer has purchased your product, it should not be the end of your interaction with them.

Focus on maintaining a strong relationship with your customer by making them feel valued so that they stick around, and get others to become customers as well. A forever customer will do more for your business than 10 one-time customers.
Implement A Referral Program

Everyone wants to feel appreciated, and a great way to make your customers feel valued is to reward them for referring their friends and family members.

Use future discounts, rewards points, freebies, special access, etc. to incentivize current customers to hold the flag for you.

Not only will this help maintain your relationship with your customers but it will also help you gain new leads who are more likely to purchase because they received a direct referral, all without any additional effort on your part.

Maintain a high-quality pipeline by eliminating unqualified leads.

Shopify uses the 4/5 Threshold to filter out unqualified leads, thereby allowing its sales reps to focus on selling to leads who have a higher probability of becoming customers.

When evaluating whether a lead is qualified, a rep must have a concrete answer to four of the following five variables:

Pain: Is the prospective customer experiencing a prominent business issue or challenge that requires them to make a change?

Power: Is the prospective customer directly involved with the decision-making process? If not, who is?

Money: Does our offering fall within their budget constraints?

Process: What's their buying process?

Timeline: What stage are they in the buyer’s journey? Will they purchase within a reasonable time frame?

With these  sales strategies, you will be well on your way to growing sales and increasing profits. Let me know what you think and what your best sales strategy is in the comments below.