It is said that entrepreneurs are the driving forces of an economy. They continuously and consciously try to create opportunities from ideas to solve issues, ranging from economic to social.
As much as they are seen as saviors of economies, the life of entrepreneurs and business leaders are rather overwhelming and lonely. Let’s take it back to the 90’s prior to the advent of technology in Nigeria, shall we?
Imagine someone trying to start up a restaurant that serves not just locally made food, but snacks, cakes, pastries, ice cream and lots more; the best way this person can use to tell people about the launched venture, is by handing out fliers, meeting with people on the street to patronize, telling your friends and family to bring friends along (referrals) and all of these sometimes happen under the blasting sun or heavy rainfall. Such an overwhelming task, don’t you think?
Thanks to the advent of technology in the country. It has brought about a transformation in the system with which entrepreneurs and business leaders operate.
In this article, we’d be looking at how the introduction of technology has helped make the lives of entrepreneurs and business leaders easy and efficient.
Marketing and advertising:
What good is a business if nobody knows about it? Looking at the example given above of the life of an entrepreneur prior to the introduction of technology, the person is tasked to do so much like passing leaflets, attending seminars and knocking every door, for little results or feedbacks; this sounds like the 80/20 Pareto rule in reverse, right? Doing so much for so little. Now with the age of technology, you don’t even need to leave your house for the world to know the creative solutions you have or the products you offer.
For an entrepreneur or a business developer, it is imperative when trying to start out business venture to make market research. You need to understand your demographics, your target audience and how they react or what they want.
Without a proper market research or study, you might find yourself selling electric kettles to the hottest states in Nigeria.
Market research is important as without a proper one, a business might not stand the test of time in certain locations. With the use of technology, you can send out questionnaires or polls on twitter to ask opinions of people, you can see complaints made by several people on things they need in their location. The social media is a powerful tool when it comes to market research.
as it was stated earlier, it is a powerful tool and if used properly will be profitable to businesses. Entrepreneurs and business owners could use this platform to communicate with the Millennials about what they do and the services they offer. The best way to make millennials patronize