Four entrepreneurial tips to make your small business stand out

Stand 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 like.

Master 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.

Get 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.

Find 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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