This issue cannot take the second place when it comes to growing a successful business. This was once said by the foremost richest man in Nigeria – Aliko Dangote; he said “if you must succeed in business, you must know your business in and out.”
This is usually the bed rock of any successful business. This is also very important in branding and marketing as you can never be truly effective with your customers if you do not have a solid understanding of your business. There are no shortcut on this one.
Your business must be able to do exactly what it claims it can; as your customers want their problems soled as soon as possible and a superficial understanding of your business is not just good enough. For example, when a client says, “Here is what I like you to do for me. Is it something you can do for me? and you can’t answer on spot. Maybe, you even responded with something like this: I’m not sure. To your customers; this simply means his or her request is not one of your core business area else you should have immediate response to his or her request.
Perhaps worse, not fully understanding your business and her range of capacities can cost you dearly; both in terms of immediate and long-term sales. Imagine your company has a product or capability you were unaware of and thus failed to bring it to your customer’s attention. As a result you loose him or her to your competitors.
Learning all you can about your business is very crucial in business growth these days. This is not something you can delegate; you must do the walk yourself and do the learning also. Chase adequate and sufficient business knowledge because it will pay dividends.