10 tips to survive in the Egyptian Market
I just want to say one word for the young people who took the risk and started a new business in Egypt during the last years, CHAPEAU! It has become a fact that in Egypt since 2011; the beginning of the revolution and till now, there is no settlement in the market and there is a noticeable disturbance because of the fact that people are afraid of losing money in unsafe environment, thus there won’t be neither investments nor liquid money. You rarely find an optimist client who would take the risk and invest especially in the marketing and advertising field except for the consumed things like food, drink, medicine and talk show programs.
Below are my simple tips that will at least keep you on the safe side and let you take your breath:
1- Cutting expenses down
Most of the people only think of this option in the case of breaking down, because we don’t normally think of saving as we always spend money in a usual manner. Yet, I think this is the most important point that will raise your business curve rapidly. Cutting expenses down doesn’t mean you are losing money, but it gives you more space when it comes to liquid money and gives you peace of mind as you can invest through any new idea that will increase your profit.
2- Be creative
Be aware that the client can’t be a case study; he doesn’t wish to pay for something he can’t get benefits from, because he also wants to save his situation that’s why they always keep an eye on the unique. Then you have to take into consideration the quality you offer because the less the requests being made, the more companies offer new ideas to grab new customers, and here starts the competition and you have to be up to it.
3- Installments
As I own a service company, I was always against the installment option as it increases the hassle from my point of view. If the client is permitted to be late for one payment, it gives him the option to be late many times. But unfortunately, at this time you will find yourself have no other option, as the bulk money is always shocking for the clients. Make sure you make payment facilities available to keep your clients and deals.
4- Long term contracting
As a result of the above point, if you agree with a client on the installment option, this means that you deal on the long term, then why don’t you go for the yearly contracts even if with a reasonable cost?
You will find yourself have ongoing deals with a fixed income as clients need nowadays someone to lean on as they don’t have enough time to search and try themselves.
5- Target the need
Briefly offer your services and see what your clients need because he may also be stressed the same as you are, so don’t offer all what you have from services to him one shot. Consider offering what best suits your client, and before you go on describing what the service you offer, better explain how it will be beneficial for him. Remember money always talk!
6- Keep politics aside
During the past years, many families and friends fell apart due to the different political opinions. So never try to engage yourself with a client in a political talk as it doesn’t always take the conversation shape, it often turns to be a fight and you lose each other. You yourself try not to regularly check news as it is always disappointing, just concentrate on what you are doing to make your business grow and help your clients do the same too.
7- Keep following up with your old members
I have been trying to find new clients last days and this thing should happen every now and then. Yet being somehow focused with existing and old clients always help you find a way to make new deals with them as there is already a trust and this shortens the road.
8- Commitment
You have to show commitment to your clients as none of them is expected to give you second chance. Make sure you focus on what you are expert of to take away any risks, and you should come up with the required quality in the right time. Keep on supporting your clients with emails and calls.
9- Socialize
Always be around. Thanks to the social networks that give us the space to present the new that you don’t have to count on your website only but also creating a professional profile of your company on social networks help you in being spread and show where do you stand now!
10- Outsource through another markets:
Unluckily this option doesn’t suite all categories, yet I believe that a good number of clients may work on other markets outside Egypt. It is not difficult but it requires effort to present a good image of your company even if through an online method to be visible to these markets especially in the gulf areas. Remember that there has to be commitment from both sides and as an advice, never initiate a business without a deposit. Make sure that what will you get won’t worsen what you already have.
I hope you all got my points and found it useful. Be optimistic as the best is yet to come.
Thanks for your time!
Below are my simple tips that will at least keep you on the safe side and let you take your breath:
1- Cutting expenses down
Most of the people only think of this option in the case of breaking down, because we don’t normally think of saving as we always spend money in a usual manner. Yet, I think this is the most important point that will raise your business curve rapidly. Cutting expenses down doesn’t mean you are losing money, but it gives you more space when it comes to liquid money and gives you peace of mind as you can invest through any new idea that will increase your profit.
2- Be creative
Be aware that the client can’t be a case study; he doesn’t wish to pay for something he can’t get benefits from, because he also wants to save his situation that’s why they always keep an eye on the unique. Then you have to take into consideration the quality you offer because the less the requests being made, the more companies offer new ideas to grab new customers, and here starts the competition and you have to be up to it.
3- Installments
As I own a service company, I was always against the installment option as it increases the hassle from my point of view. If the client is permitted to be late for one payment, it gives him the option to be late many times. But unfortunately, at this time you will find yourself have no other option, as the bulk money is always shocking for the clients. Make sure you make payment facilities available to keep your clients and deals.
4- Long term contracting
As a result of the above point, if you agree with a client on the installment option, this means that you deal on the long term, then why don’t you go for the yearly contracts even if with a reasonable cost?
You will find yourself have ongoing deals with a fixed income as clients need nowadays someone to lean on as they don’t have enough time to search and try themselves.
5- Target the need
Briefly offer your services and see what your clients need because he may also be stressed the same as you are, so don’t offer all what you have from services to him one shot. Consider offering what best suits your client, and before you go on describing what the service you offer, better explain how it will be beneficial for him. Remember money always talk!
6- Keep politics aside
During the past years, many families and friends fell apart due to the different political opinions. So never try to engage yourself with a client in a political talk as it doesn’t always take the conversation shape, it often turns to be a fight and you lose each other. You yourself try not to regularly check news as it is always disappointing, just concentrate on what you are doing to make your business grow and help your clients do the same too.
7- Keep following up with your old members
I have been trying to find new clients last days and this thing should happen every now and then. Yet being somehow focused with existing and old clients always help you find a way to make new deals with them as there is already a trust and this shortens the road.
8- Commitment
You have to show commitment to your clients as none of them is expected to give you second chance. Make sure you focus on what you are expert of to take away any risks, and you should come up with the required quality in the right time. Keep on supporting your clients with emails and calls.
9- Socialize
Always be around. Thanks to the social networks that give us the space to present the new that you don’t have to count on your website only but also creating a professional profile of your company on social networks help you in being spread and show where do you stand now!
10- Outsource through another markets:
Unluckily this option doesn’t suite all categories, yet I believe that a good number of clients may work on other markets outside Egypt. It is not difficult but it requires effort to present a good image of your company even if through an online method to be visible to these markets especially in the gulf areas. Remember that there has to be commitment from both sides and as an advice, never initiate a business without a deposit. Make sure that what will you get won’t worsen what you already have.
I hope you all got my points and found it useful. Be optimistic as the best is yet to come.
Thanks for your time!