Four entrepreneurial tips to make your small business stand out

out from the crowd with a unique name
What is in a name?
A lot. Many business experts will tell. Just as you will love to get your child
a beautiful name, same way you should give your business a great name.  Names can be powerful marketing tools for
your business especially when you starting new. For example, look at these
names “Jumia” , “Wakanow”, “Dealdey” , what do they all have in common? They
are easy to pronounce, and they have a local feel, that is, you can easily
identify with them, especially if you are a Nigerian, which is not a bad idea
since these companies have their initial primary market as Nigeria. Your
business name should be catchy, have a feel good factor, web-friendly and a
strong recall factor.  
The name may also
reflect the product you seek to offer as much as possible. But this
consideration should in no way trump having a name that is easy to pronounce
and identify with. In the naming process, you can sound it out on close family
members, friends and even potential customers to see if it is something they
your trade
How good are you in
your chosen area of business? Being average will only bring average results and
if you are great, you are bound to get great results. No matter the business
you decide to go into, there is bound to be competition. To beat the
competition, you have to be great at what you do. Your most potent competitive
edge is how much better the quality of service you offer or the quality of
product you offer is, than the competition.
Mastering your
trade is also about the knowledge you have about your industry. How well do you
know and understand the industry you operate in? This is important in
positioning what you do in that industry. If you know little or nothing about
that industry, you are likely to be poorly positioned and your performance will
be mediocre.
a business mentor
Mentors are people
who can make available to you, their business experience and knowledge, most of
the time, at no cost. A mentor should preferably be someone who is in or has
run a similar business like what you are currently running or planning to go
into. He or she, most likely, have already seen all the challenges and
successfully navigated through it. His or her advice will definitely help you
avoid the pitfalls and potholes that can kill your growing business.
a bank that can support you
UBA has been around
for over half a century and it is still going strong. The invaluable experience
gained by UBA in supporting businesses for more than sixty years, will
definitely be useful as you grow your business.  With subsidiaries in 18 African countries
outside Nigeria, the most by any Nigerian bank, and business offices in New
York, Paris and London, a bank like UBA has the capacity to support your
business grow beyond the shores of your immediate country of start-up.



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