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Daniel Damilola Nejo

Business Strategies

Understanding The Meaning of QUALITY For Your Business

Quality is free. Think about that statement for a moment. I am one of those people who used to think that quality should cost but from understanding the real meaning of quality as explained by quality gurus like Crosby, Deming, Joseph Juran, Feigenbawn and my very interesting Quality Management lecturer – Dr Brodie ( I know my classmates wouldn’t agree with the “interesting” part but who cares 🙂 , I have been able to understand that quality is actually free. Really, to achieve a quality product or service standard, you don’t have to spend more, its free. Read on to understand what I mean. (more…)

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Business Strategies

Plan To Run A Business? CRM is a must!

CRM is one of the buzz words that has been going around for a while now, as an entrepreneur and hustler it is important that you are in the know of what it means because smart businesses and big brands are taking advantage of it to scale higher. In its true meaning, CRM stands for Customer Relationship Management. Alot of people always mistake CRM for a software or even worst an excel spreadsheet. I hear statements like “We need a new CRM!” (more…)

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Business Strategies

Understand and Emulate Amazon’s Business Strategy

Amazon, founded by Jeff Bezos is the largest and most successful Internet-based retailer in the United States The world. Amazon started as an online book retailer in 1994 in Washington and moved ahead to becoming a global leader in e-commerce with a very wide selection of products, amazing customer experience, world wide network of fulfllment, 28,000 + plus employees and a business that has “stickiness” ( i.e being able to bring customers back – again, again and again ) Amazon utilizes the Cost Leadership Strategy to gain competitive advantage, this doesn’t only place the company as a leader in it’s industry but also attracts customers for them.

They also  make use of EDLP ( Every Day Low Price ) technology. If you haven’t read my post on Strategies to gain competitive advantage for your business, kindly read here To become such a successful brand, there are some behind the scene strategies that the company makes use of inorder to kick competitor’s butt and gain large market share. This post is not to “big up” amazon, rather, it is to “expose” the behind the scene strategies used by the company, so, hustlers, entrepreneurs, small and medium businesses can take advantage of a proven model.

Amazon’s Strategy

‘To ‘Get Big Fast’ by investing aggressively in new product categories and new businesses, by spending money on brand awareness and getting new customers.’

Amazon’s Mission

‘To leverage technology and the expertise of our invaluable employees to provide our customers with the best shopping experience on the Internet.’

Amazon’s Vision

To be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.’

Amazon’s Objectives

‘Not to discount a small number of products for a limited period of time, but to offer low prices everyday and apply them broadly across our entire product range.’

Amazon’s Core Value Proposition

  • Price

  • Convenience

  • Wide Selection

The below diagram explains the Strategy used by Amazon.com. I will try to break i down as follows : Inorder for the company to experience Growth, there is a need to create a Lower Cost Structure which will translate to Lower Prices for their customers and in turn improve Customer Experience which is tied to the fact that customers can browse through a wide Selection of Products with Convenience which is made possible by the numerous independent Sellers on the Amazon.com platform. All this combined together brings Traffic to the website and makes them a global leader in e-commerce.

Another interesting strategy by Amazon is it’s ability to improve, innovate and leverage on its success to build and introduce new categories for its business as the years go by. As stated earlier, it started off as an Online Book Retailing Store in 1994. In 1999 it added the Auctions & zShops.

With bigger dreams and aspirations to become a one-stop shop for books , it opened it’s doors to independent authors with the introduction of its Marketplace in 2000. To enable it provide faster deliveries to its ever increasing customer base it created Strategic Partnerships & Logistic Services in 2001. Amazon launched it’s full flesh E-commerce Platform/ Web Services in 2002 and introduced the E-book / Kindle in 2007. 2009 and 2013 saw the introduction of Amazon Publishing and Amazon Autorip respectively…and the list goes on. 🙂

One thing to grab from Amazon’s business model evolution above, is it’s ability to evolve, improve, innovate and not get too comfortable with it’s successes. Hustlers and small business owners can take a close look at Amazon’s Vision, Mission, Objective, Strategy and Value Proposition to create the underlining principles and building blocks that forms their business.  

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Internet

If Your Website Sucks – So Does Your Brand

I cannot count how many times have had to explain to businesses that their website is an extension of their brand. In this internet age, a company without a website can easily be passed off as “non-existent”, thinking things cannot even get worse , a company with a poor website can easily be termed “not-serious”.

This is something big brands are aware of and that is why they invest so much in their online presence. Although  I said; “invest so much”, websites can be a cost effective way of creating a distinctive brand for yourself as an entrepreneur or a small business owner. Getting a kick ass website in this day and age isn’t as hard or expensive as it used to be but it is important to understand that in the website design world these days – what you pay for is what you get!

So, stop looking for the cheapest options or designers in third world countries. Instead, think like a strategic hustler / entrepreneur, try get someone who you can create a strategic relationship with to get a modern and clean website at an affordable price where you both are happy. ( Also, please DO NOT be tempted to design your website yourself if you are not a seasoned designer ) . I remember the time I worked with a startup business in London who makes close to £1,000,000 in revenue every year.

They had a website which they had someone design when they started the company about 4-5years ago. The website was poor. They started to get complains and started to loose e-trust ( when potential clients begin to mis-trust your business based on their view and perception of your online presence) , their clients complaints was nothing far from “You claim to be a top London firm in X industry, how can you expect me to spend X amount of pounds with you if you cannot spend a couple pounds on a clean website“.

Not trying to be funny but their website looked like a kid’s first HTML project.

A simple switch In employing my service to re-design and revamp their online presence made them look bigger than they are, feel proud to send potential clients to their website and increase the user’s experience of their website. In simple terms, their website became on par with their brand. With a website, an hustler can look like a small business , a small business can look medium and a medium business can look BIG! Its called “e-Branding” ( i literally just formulated that word 🙂 ).

With that been said, no matter what your hustle is, if you are trying to make it bigger than it is now, get yourself a clean website. It doesn’t have to be too fancy, it should be modern, clean, easy to navigate, easy to contact you and the most importantly – mobile friendly. This very little and cost effective gesture of getting your website right will strengthen your brand’s online presence.

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Quality Strategies

Create Amazing Products & Team With SCRUM

I remember when my Quality Management lecturer gave us a small class test. She said – ‘Write down what you know about SCRUM, the roles , the advantages and everything.” I was shocked, SCRUM? What the heck is SCRUM? Is this one of those fancy terms in this Quality Management Course? Before I knew it, a friend sitting next to me started writing down things about SCRUM on a paper and it dawned on me that they had been taught SCRUM earlier in the course when I was not a member of the course ( Why I joined late to the course is a story for another time 🙂 ) .

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