Greetings, dear friends. I am Dr. Charles Apoki, and I had the privilege of addressing a gathering at the Petroleum Training Institute Conference Center in Effurun. My topic focused on how to grow small businesses in what we now refer to as the VUCA era—Volatile, Uncertain, Complex, and Ambiguous times.
The economic landscape is challenging. Rising interest rates, inflation, and unpredictable fiscal policies create a tough environment for businesses. Yet, opportunities still abound if we approach them strategically and with integrity.
Business Growth Is Intentional
I explained to the participants that running a business is not about luck; it requires intentionality. Profit is the key to any successful business. Profit enables you to render services, solve problems, and make life easier for others. People pay for value, so focus on saving your customers time, energy, and money while reducing their stress.
To illustrate the power of consistency, I used a formula:
250 × 40 × 20 × 12 × 10 = ₦24 million.
This means selling a product at ₦250 to 40 people, 20 days a month, for 12 months over 10 years yields a turnover of ₦24 million. You can grow your business by juggling three factors:
- Increase your customer base – The more people patronize your business, the more your revenue grows.
- Increase the value or variety of products/services – Diversify or raise the price of your offerings to enhance profitability.
- Increase the frequency of transactions – Use modern tools like the internet to enable sales even when you’re asleep.
Leverage Technology and Integrity
In today’s interconnected world, the internet is a game changer. I shared how I sell books and properties across time zones, utilizing online platforms. This not only expands your reach but also keeps your business active round-the-clock.
Integrity is crucial. When customers trust you, they recommend you to others. Treat people with respect and professionalism, even in challenging situations. Your brand is built on what people say about you and your products. A positive reputation drives growth.
Avoid Unnecessary Expansion
Growth is not just about expansion; it’s about improvement. Before opening new branches or diversifying, ensure your current operations are optimized. Perfect your services, enhance customer care, and manage resources wisely.
Beware of the “Pest Mentality”
I warned against practices that harm our development, especially in the Niger Delta. Corruption, exploitation, and laziness are significant barriers to progress. I recounted a tragic incident where a disabled young woman was extorted by her community leaders, who demanded ₦50,000 to include her name on a beneficiary list and attempted to seize her generator. This wickedness must stop!
We often blame the government for our problems, yet the same greed and selfishness pervade our actions. If we want development, we must change our mindset and conduct.
Practical Business Tips
- Be punctual and consistent – Show up and deliver value daily.
- Separate personal life from business – Don’t misuse business funds on frivolities.
- Excellence attracts rewards – Focus on building your business, and recognition will follow.
Be the Fragrance of Christ
Let your behavior reflect Christ in your business. I shared an experience in South Africa where a young waiter’s diligence brought me to tears. His service inspired me and spoke volumes about his faith. Similarly, in my schools, we uphold integrity, and this has made us a sought-after institution despite our strict standards.
Final Thoughts
I applaud the Delta State Government for empowering small business owners. However, I urge the beneficiaries to use these resources wisely. Success comes from diligence, frugality, and a commitment to serve.
Remember, you are an agent of development, not a pest. Build a business that solves problems, uplifts communities, and glorifies God.
Join me for my upcoming webinar, Maximizing Your Life, Ministry, and Finances, on December 6th and 7th. Register today by messaging +234 880 21 21 92 62. Don’t miss this opportunity to learn and grow.
God bless you.
