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Brand businesses to grow customer base

27 Mar 2023

Youth entrepreneurs have been advised to invest in branding their businesses to grow customer base. 

In so doing, customers should be able to identify and associate well with the business logo and the product being sold.

The sentiments were expressed by the founder and Managing Partner of Mphetolang Legal Ms Phatsimo Mphetolang during a one-day Youth Business Seminar in Francistown on Saturday March 25.

Ms Mphetolang said selling a product was an emotional process hence the need for one to know their target market.

“Know your customers and age range and be determined on what you want to do. Advertise your products by word of mouth from door to door, on social media and price products accordingly,” she said.

She noted that when starting up a business, they could borrow money from family members to avoid interest and other penalties or even run the business from home in the event there was no financial flow to meet rentals.

She said by recognising themselves first as business people would help them to identify what needed to be done including compiling business plans to enable them to be ready to improve on what was already available in the market.

She said making use of available platforms and entities such as Companies and the Intellectual Property Authority (CIPA) would go a long way in capacitating them to make decisions regarding their businesses. 

“There is an aspect of surety to own the debts separately as a business and as a person,” she said adding that there was a need for company incorporation as it was key to know the laws that govern it.

Presenting on financial projection, Business Development Consultant with Wealthpoint Consulting Mr Tefo Maleka said the basic thing in life was to have a vision and plan of what one wished to achieve.

“You can start with businesses that do not require a lot of capital which include consulting, secretarial services, woodwork, social media, agro-tourism as well as processing and packaging of foodstuff,” he said.

He said the quality of a good entrepreneur was self-discipline, resilience and being optimistic.

In his welcome remarks, Father Lesego Mosetlha of St. Bridget Catholic Church said the seminar was meant to equip youth with business skills. “The workshop will motivate them to unlock their potential in a very meaningful way,” he said. Ends

Source : BOPA

Author : Goweditswe Kome


Event : Youth Business Seminar

Date : 27 Mar 2023