Owning A Business: Smart Mentorship

Owning A Business
The master key to dominating a trade or a field is to study those who have become successful and great in the business and then imitate their style creatively. When you want to start a business, it really can be overwhelming to start thinking up a strategy that you hope will work and make you succeed in the business. Truth is research is very key to starting a business. You must investigate the market, find out how things are done; learn the secret of the trade so as to participate to win.But in a situation where you lack the means or resources to carry out extensive or required market or consumer research, all you need do is to adopt or adapt the strategy of a leader in that market.

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Truth is, most market leaders invest in research and come up with strategies based on feedback from the market or the consumers. A smart way to understand and connect with the ever changing taste and preference of the consumer is to creatively imitate and adopt the strategy of the market leader. Market leaders carry out informed decisions. They find out from their targets; once they apply a tactics; a new market approach or a new strategy; simply consider it and see how it fits your business and how you can apply it creatively and effectively too. It’s simply leveraging on the research findings of the market leader by observing their response to these findings and applying same creatively to your business.

Smart mentoring means you do not have to invest and spend on what the bigger players invest and spend on. It also means you do not have to guess what your customers want, it also means you do not have to invent or begin new ideas and rules in the areas where others have been successful. What you need do is observe the activities of market leaders; see and measure the success of their activities and allow their track record mentor you.

After you’ve studied what they have done, add your own smart ideas to it; improve it and adapt to your own business strategy. It is important to recognize the fact that to see further, you may have to stand on other people’s shoulders. Smart mentorship is useful in been assured that if others have towed this path and succeeded, then I can tow the same path and succeed as well.


[Muyiwa Afolabi – Business Coach]

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