Applying Third World Success Strategies to Your Own Business
Survey your market and look for what your customers really want. Understand their economic profiles and find out what they are willing to pay for the sort of products that you are selling. Market your product in packing and sizes that customers in your target area will feel comfortable with.
Some communities you are selling products in may be dominated by one particular community or religion and their tastes and preferences must be given high priority in the product you are selling or manufacturing.
Let your product give the customer a product whose quality is assured. Scale down your production levels to customer demand and do not overproduce. Too much production could lead you into distress sales which may completely upset the market you have built up.
See if you can employ more people locally, as this could reduce overhead costs. Even if you are subletting, do so with people from within the same community that comprises your customers. The advertisement by way of word of mouth publicity can do your business a lot of good.
When you do expand to other areas follow all these tactics afresh. You may even have to change your products in a new outlet to suit the new community where you are now established.
Look for economy of scale when you expand operations, but do not do this by standardizing the product, as this may eliminate markets that you have developed and built up. Instead, economize on bulk buying and other operations that are common to products.