There are no accredited schools or institutions in Nigeria that teach export business specifically. So, Nigerians planning to venture into that business will have to turn alternative ways of learning to understand what the business is all about. Even though there are books and e-books that can teach you how to become a successful exporter, most of those available are catered to business atmospheres that are different from what obtains in Nigeria.
So, the best way to learn about the export business in Nigeria is to learn from seasoned exporters who have been running their export businesses in the country for several years and have experience with multiple foreign markets. Now, what are the characteristics of successful Nigerian exporters? Read on to find out what separates them from the unsuccessful ones.
Top 10 Characteristics of Successful Exporters in Nigeria
1. Keen eyes for opportunities
Successful exporters in Nigeria have the ability to quickly sense profitable opportunities—even in foreign countries. They keep abreast of latest information regarding foreign markets as well as new opportunities that they can take advantage of in those markets. They are also able to quickly figure out which opportunities are worth going after and which ones aren’t. This explains why they always record huge profits in all their export deals (they only go for high-paying deals).
2. Research and analytical skills
Another hallmark of successful Nigerian exporters is their ability to extensive and objectively research and analyze new opportunities before plunging into them. This gives them a lot of insight into new opportunities and helps make well-informed decisions to either grab those opportunities or abandon them. To figure out the potential of any opportunity, they known what factors to consider, evaluate, and analyze. They don’t jump at new opportunities without fully understanding what those opportunities entail.
3. Marketing skills
As with other businesses, export requires solid marketing skills. Successful exporters in Nigeria are very good at marketing, especially to a foreign market. They know how to use various marketing strategies and mediums to their own advantage and get positive results.
4. Willingness to build connections
One of the smartest ways to achieve success quickly—without cutting corners—is to establish connections. And the export business in Nigeria is no exception. Successful Nigerian exporters jump at any opportunity to build connections that will be of advantage to them, be it locally or in their target foreign markets. Through the power of connections they are able to break into new markets easily and get information about latest opportunities.
There are ethical and unethical sides to any business. This runs true for export business, too. As a Nigerian exporter, you can easily get tempted into adopting some unethical or questionable practices. A common example is exporting substandard or fake products and selling them as authentic ones. Another is breaking local rules that bind the export business. Successful exporters in Nigeria don’t cut corners, and they stay away from unethical practices.
Successful exporters in Nigeria understand the importance of time and keeping to deadlines. They honor appointments at their fixed times, and they don’t disappoint their foreign agents, either, when it comes to delivering their products to them. This fetches them repeat business from their foreign agents and opens more doors of opportunities for them.
No one succeeds at something they are pessimistic about. To succeed in any business, you need to be optimistic at all times. Optimism is one of the characteristics of successful exporters in Nigeria. They always see the good side of things—but they are realistic with their thoughts. Their optimism spurs them to take risks and go for huge opportunities. This is why they have achieved multiple successes.
Everyone in business will certainly experience challenges, bad times, and even failure—which can be so frustrating that quitting comes to mind next. Successful exporters in Nigeria don’t give in to such circumstances because they understand that hard times are inevitable. Rather they learn from them while thinking of ways to bounce back and operate in a stronger way.
Achieving success in any business requires smartness. And that’s another hallmark of successful exporters in Nigeria. They are fast at making deductions and decisions, and they are very fast but careful when implementing strategies that they think will work for them. Smartness can push you far ahead of the competition, and that’s why some Nigerian exporters are far ahead of others in the same business.
Successful Nigerian exporters have the ability to comprehend new ideas and understand them. And they are able to put their experience into practice. This is another reason why they have achieved success in the export business.