Contest!!! My Entry "If I were a Businessman"

Hello good day and welcome to my entry article about the given topic If I were a Businessman organised by @cryptoloover, I feel good you know been a participant of this wonderful initiative. So it goes like this, starting with the first question given.

Question 1

Which type of business you prefer if you were a businessman? Why?

If I were a businessman, I would prefer to engage in cloth business that is a boutique for both male and female. The rapid buying of cloths this days by both genders is very high and fast selling. It is an exciting and a very lucrative business to explore.

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There are several reasons why I would choose a cloth business as my preferred type of business.

Firstly, cloth is constantly bought in the market, providing plentiful opportunities for business people. As a businessman, I am been drawn to the dynamic nature of the cloth manufacturing industry and new desiging companies, where new ideas and concepts are continuously emerging. This would allow me to stay ahead of the curve and constantly adapt my business to meet changing market demands.

Secondly, cloth business has a global reach and this provides the potential for a wide customer base. With the increasing purchasing of cloth in the world, cloth businesses can transcend geographical boundaries and tap into markets around the globe by the means of social media. This would enable me to scale my business and explore international opportunities, leading to higher revenue and profitability.

Furthermore, cloth businesses often have lower overhead costs compared to traditional businesses. Operating online or in a virtual environment can significantly reduce expenses such as rent, utilities costs because to the cloth business is going currently i can do my business from my comfort advertising it to people on my media handles.

Lastly, cloth businesses have the potential for high scalability and profitability. With the right product business model, and effective marketing strategies, a cloth business can experience rapid growth and generate substantial returns on investment. This can provide me with the opportunity to build a successful and financially rewarding venture.

In conclusion, me as a businessman, I would prefer to engage in cloth business due to its dynamic nature and global reach. Embracing technology and leveraging its power to create value can lead to a successful and fulfilling entrepreneurial journey.

Question 2

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How much amount will you invest in that Business and where do you want to open that Business?

As to how much i will invest, this is a very good questions but it also somehow kind of difficult to get a straight up answer. But for a start, i will not make request or ignorantly invest a very high amount of money into the business not like is bad idea but due to how things are going in the country right now. For start i will prefer investing at most three hundred thousands naira (#300,000) minus the shop rent that is if i'm going to start from a shop.

Question 3

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What steps will you make for the growth and development of your business?

First of all, i will do a market survey to know what are the customers test in kind of cloth they buy most and also to know my competitors, Identify opportunities and gaps in the market that i can capitalize on to differentiate businesses and gain a competitive advantage

Delivering an outstanding customer service to build customer loyalty and create positive word of mouth referrals by telling more people about my business. Meet customer needs, resolve issues promptly, and continually improve my products based on customer feedback.

And utilizing various marketing channels, just like i've said before which i have said which digital marketing, social media, content marketing, and traditional advertising, to create awareness, generate leads, and drive sales. Tailoring my marketing strategies to my target audience and continuously measure and optimize my marketing efforts for maximum impact.

Lastly, i will clearly define what i want to achieve in my business. A kind of Setting specific measurable, achievable, relevant and time bound goals that align with your longterm vision.

Question 4

What businesses do you recommend to those Steemians who are lefting the platform or had already left?

Well there are many businesses around the globe today, but i will recommend the following businesses.

1. Airtime and Data selling which can be done anywhere by anyone and also done really required much capital to start up.

2. Food stuff or Restaurant this particular one is what we humans can't do without, it's one of the fast selling businesses.

3. Offering Services like tailoring, ladies hair dressing or male hair cuts, digital works like graphic or web designs, photo shooting and many more services.

4. Phone and electronic accessories this is what many us can't do a day without and in market today it is one of the fast selling business.

So here comes the end of my contest just as the the given questions has finish. And I will like to invite my friends @josepha, @chaalee, @kravin, @abubakar08 to participate in this initiative too