{"id":43041,"date":"2023-02-27T20:17:25","date_gmt":"2023-02-27T20:17:25","guid":{"rendered":"https:\/\/www.msmehub.org\/?p=43041"},"modified":"2023-02-27T20:19:16","modified_gmt":"2023-02-27T20:19:16","slug":"understanding-your-customers-expectations","status":"publish","type":"post","link":"https:\/\/msmehub.org\/staging\/6671\/understanding-your-customers-expectations\/","title":{"rendered":"Understanding your Customers Expectations"},"content":{"rendered":"\n

It’s often difficult for entrepreneurs to succeed without understanding customers expectations. Changes in customers’ expectations have made many entrepreneurs feel as if they are ill-prepared. My experience as an entrepreneur who has interacted with many entrepreneurs for over seven (7) years clearly shows they all do what is within their means.\u00a0<\/p>\n\n\n\n

However, a customer expectation is not a closed book. I mean an entrepreneur can be guided into meeting customers expectations. Yes, the guide is always seeking better\u00a0processes for the production of products<\/a>\/services, delivering value, and capturing value \u2013\u2013\u2013 the business process re-engineering.<\/p>\n\n\n\n

In order to possess a better understanding of your customer as an entrepreneur, these are some of the actions to take:<\/p>\n\n\n\n

1)\u00a0\u00a0Beyond Product\/Service:<\/strong> In addition to having excellent products or services is making sure that your system of delivery is cost-effective and the means of capturing value (receiving payments) has many easy to use options like Point of Sale machine(s), and corporate account(s) for confirming payments. For example, the challenges with the\u00b9 circulation of redesigned naira notes shows that a lot of entrepreneurs have limited options in capturing value.<\/p>\n\n\n\n

2)\u00a0\u00a0\u00a0 Do Not Make Your Business Run Before They Can Fly: <\/strong>One rule of thumb is never to put your two feet in unknown waters. Your desire to grow as an entrepreneur should not be in isolation from the requisite knowledge of the business process. You acquire knowledge as you practice what you know and continue to learn better business ways.<\/p>\n\n\n\n

3)\u00a0\u00a0Identify challenges Location-by-Location:<\/strong> Every location has its own challenges whether it is a village or city. As an entrepreneur carrying out a research, never assume the challenge is the same across locations. It is the knowledge borne out of the research conducted that will make you outstanding in your business management. This research could be simply an assessment of the practicality of a proposed business plan or method \u2013\u2013\u2013 A feasibility study.<\/p>\n\n\n\n

4)\u00a0Make Customer Education A Priority:<\/strong> Change is the only permanent thing in this world, yet greatly feared. One of the fears of some of the customers who refused to make payments digitally in the face cash scarcity in Nigeria was the issue of fake alerts.<\/p>\n\n\n\n

5)\u00a0If You Cannot Innovate, Copy:<\/strong> Business models are not patentable, and copying them is not a crime. You need to think about whether you need to innovate when there are business models that can be copied lawfully. For example, Facebook\u2019s parent (Meta) unveiled its Meta Verified where you pay a fee to get the blue badge which it copied from Twitter\u2019s playbook. Meta did not just copy the business model, it went also for the absolute pricing mechanism, across digital domains of iOS and Google Play Store.<\/p>\n\n\n\n

Finally, have this mindset that there is more to your business than you know. There is always room for improvement in every business. Start seeking ways to make the lives of customers at ease during buying processes, deliveries and payments.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s often difficult for entrepreneurs to succeed without understanding customers expectations. Changes in customers’ expectations have made many entrepreneurs feel as if they are ill-prepared. My experience as an entrepreneur who has interacted with many entrepreneurs for over seven (7) years clearly shows they all do what is within their means.\u00a0 However, a customer expectation is not a closed book. I mean an entrepreneur can be guided into meeting customers expectations. Yes, the guide is always seeking better\u00a0processes for the production of products\/services, delivering value, and capturing value \u2013\u2013\u2013 the business process re-engineering. In order to possess a better understanding of your customer as an entrepreneur, these are some of the actions to take: 1)\u00a0\u00a0Beyond Product\/Service: In addition to having excellent products or services is making sure that your system of delivery is cost-effective and the means of capturing value (receiving payments) has many easy to use options like Point of Sale machine(s), and corporate account(s) for confirming payments. For example, the challenges with the\u00b9 circulation of redesigned naira notes shows that a lot of entrepreneurs have limited options in capturing value. 2)\u00a0\u00a0\u00a0 Do Not Make Your Business Run Before They Can Fly: One rule of thumb is never to put your two feet in unknown waters. Your desire to grow as an entrepreneur should not be in isolation from the requisite knowledge of the business process. You acquire knowledge as you practice what you know and continue to learn better business ways. 3)\u00a0\u00a0Identify challenges Location-by-Location: Every location has its own challenges whether it is a village or city. As an entrepreneur carrying out a research, never assume the challenge is the same across locations. It is the knowledge borne out of the research conducted that will make you outstanding in your business management. This research could be simply an assessment of the practicality of a proposed business plan or method \u2013\u2013\u2013 A feasibility study. 4)\u00a0Make Customer Education A Priority: Change is the only permanent thing in this world, yet greatly feared. One of the fears of some of the customers who refused to make payments digitally in the face cash scarcity in Nigeria was the issue of fake alerts. 5)\u00a0If You Cannot Innovate, Copy: Business models are not patentable, and copying them is not a crime. You need to think about whether you need to innovate when there are business models that can be copied lawfully. For example, Facebook\u2019s parent (Meta) unveiled its Meta Verified where you pay a fee to get the blue badge which it copied from Twitter\u2019s playbook. Meta did not just copy the business model, it went also for the absolute pricing mechanism, across digital domains of iOS and Google Play Store. Finally, have this mindset that there is more to your business than you know. There is always room for improvement in every business. Start seeking ways to make the lives of customers at ease during buying processes, deliveries and payments.<\/p>\n","protected":false},"author":1175,"featured_media":43046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[353],"tags":[390,592,711,392,550,414,415,600,1535],"class_list":["post-43041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customer-service","tag-business","tag-business-growth","tag-customers","tag-entrepreneurs","tag-entrepreneurship","tag-msme","tag-msmes","tag-startups","tag-understanding-your-customers-expextations"],"yoast_head":"\nUnderstanding your Customers Expectations<\/title>\n<meta name=\"description\" content=\"It's often difficult for entrepreneurs to succeed without understanding customers expectations. 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This firm is dedicated to supporting entrepreneurs in their efforts to minimise losses and maximise profits. Chukwuemeka is a certified Accountant proficient in utilizing Intuit Quickbooks, a robust cloud-based accounting software. Beyond his involvement in Countsystem, he also holds a Directorial role at Pleasant Harvest Limited, an agricultural entity specializing in rice processing and sales. Notably, Chukwuemeka is a frequent guest on Afia TV's Eastern Business Report Show, where he shares his insights. His extensive and diverse professional background has equipped him with valuable experience. He has held roles in customer service at the Regional Business Unit of Nigerian Breweries Plc, served as a Customer Service Representative at the now-defunct Diamond Bank Plc, acted as the Principal Partner at Prudential Auditors & Consultants, and managed the State operations at Chijgz Resources International, among other positions. Chukwuemeka's dedication is evident in his passion for nurturing micro and small businesses, fostering their profitability and sustainable growth. His ultimate goal is to guide these enterprises towards global relevance, cementing their place on the international\u00a0stage.","sameAs":["https:\/\/www.countsystemng.com","https:\/\/www.Facebook.com\/ChukwuemekaLivinusAyogu","https:\/\/www.instagram.com\/chukwuemekayogu","https:\/\/www.LinkedIn.com\/ChukwuemekaLAyogu","https:\/\/x.com\/https:\/\/www.Twitter.com\/ChukwuemekaAyo1"],"url":"https:\/\/msmehub.org\/staging\/6671\/author\/chukwuemeka-ayogu\/"}]}},"_links":{"self":[{"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/posts\/43041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/users\/1175"}],"replies":[{"embeddable":true,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/comments?post=43041"}],"version-history":[{"count":3,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/posts\/43041\/revisions"}],"predecessor-version":[{"id":43049,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/posts\/43041\/revisions\/43049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/media\/43046"}],"wp:attachment":[{"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/media?parent=43041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/categories?post=43041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/msmehub.org\/staging\/6671\/wp-json\/wp\/v2\/tags?post=43041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}