My aunt is trying to create a new brand image for a business that has been in existence longer than I have been alive. The first thing she did when she saw me was present the case to me. She stated her goal and then she asked me the best way to reach that goal. As I sat there discussing my opinion with her, I realised that I was perhaps giving her another perspective to consider before making a move. When she was done talking to me, she headed to the neighbours' house to ask their opinions as well. She is essentially crowdsourcing ideas on branding from the people closest her.
One of the things I have come to realise in business is that it is not possible to do it alone. A big part of any successful endeavour is asking for people's opinions. One of the things that hampers small business growth in Nigeria is the cultural norm of keeping things close to the chest. Everyone is afraid of the next person stealing their precious idea that they never get to feel out if it is even a good idea. This means that a lot of small business failures would be avoidable if people just asked for feedback before going through the expensive process of starting up.
The process of asking for feedback is a part of market research. Market research is what allows you to understand how your product fits into the market. A lot of business owners in Nigeria think that their idea is going to turn them into the next Dangote. However, through the process of asking for feedback from their family and friends they begin to understand that the idea they have is not as strong as it needs to be. Asking for advice, opinions and solutions from your personal circle is an informal part of the market research.
This informal business consultation is often free. At most it will cost you the phone credit you will use for an extended conversation. Why not start that conversation today?
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