Nelly Agbogu (NaijaBrandChick) shared some business nuggets you should see 👇

FIVE BUSINESS LESSONS FROM LOCAL TRADERS AROUND US.

Sometimes, we ignore what these local traders do around us.

But deep down, if you follow through, you'll see amazing lessons to be learned.

I've picked out five core lessons

1. THE SUYA MAN:

You approach a suya man to buy suya. You are standing in front of him; so he is sure of the intent to buy.

He wants to increase your level of trust and fast spending, so he cuts a small piece, dips it in pepper and hands you to eat. He offers value ahead so that he earns your trust.

Lesson: Once the customer has approached you, give value ahead to earn his trust and increase the spend value.

2. THE CORN SELLER:

You stop at the expressway to buy corn in Lagos, especially those ones opposite Lagos Business School.

They run to your car. “Madam, buy pear- all for 1000”. They do not even offer you 100 Naira or 200 Naira pear.

They offer you 1000 worth of pear in a bowl. 8 out of 10 people who stop there, buy the bowl of pear.

Summary - Offer the customer bulk buy. Many will take it. You will make more sales. Stop trying to sell one, offer two.

3. THE CANE SELLER:

My Igbo brother will import a container load of cane. Yes, you heard me. Cane used in flogging and correction.

Someone imports a container load of it. He opens his shop everyday and sells cane in huge quantities.

He believes in his heart that there is a market. Schools and parents buy from him. He has done the business for 17 years.

Summary: Scarcity mindset can kill your business. You think that if you sell one thing you cannot make it. You decide to venture into all sorts. You do not niche and be known for something.

4. THE IGBO FABRIC SELLER:

As soon as you arrive at his shop, he insists that you sit down, then he sends his boy to buy you malt.

He understands that the longer you sit, your eyes will feed on more fabrics and you will end up buying 10 instead of 3.

Summary: If you run a physical store, you can increase the amount a customer spends by getting the customer to be relaxed in your shop. It works!

5. THE MARKET GRINDER:

If you do market runs, you would notice that the young boy who grinds tomatoes and pepper is always positioned close to the woman that sells the tomatoes and pepper.

And sometimes, this young lad is even loyal to the tomato seller so he always get referred whenever a customer shows up.

Summary: Have you ever thought about a business that can provide you a steady stream of customers? What business can you take a position next to and get your customers from?

Well, these lessons may or may not directly impact your business.

But what you can do is modify it to suit what can work for you.

Thank you.

#naijabrandchick