March 10 - Business Idea 8: By Popular Demand

There is an African television programme that says by “popular demand”. Doing business is not because of you but the public, there is a place of “For Whom To Produce?” If you cannot answer for whom you want to produce, then to produce because it will surely turn to waste. 

As much as buying and selling of biscuit, sweet and the likes aren’t really profit enticing, you still see that retailers still patronize them to sell to customers, it is hang on the issue of popular demand. These products are daily products that children must buy. Children are minimum of 50% of any population, therefore, hence it is by popular demand, I am so sure that you are into a thriving business and surely, you will surely succeed. 

Dear readers, you need to be vigilant as you move in and out daily, it will require you to stay awake in the night to meditate and think well, there is need for you to make research on what the people are asking for. 

Don’t be adamant to keep doing what the people don’t demand for, surely, you will be frustrated out of such business, if you cannot penetrate. By popular demand, people must buy soap to wash their clothes, they demand for more of solid soap than the sachet soap, the sachet soap is demanded more, when clothes are to be soaked for stain removal and likes. 

If you then what to venture into perfumes, you should be ready to engage in rigorous marketing to gain more sales because only 15% of people anywhere patronize perfumes, it is not on popular demand, it is excesses to some, it is per chance to others, it is festivity to some category. 

When it is by popular demand, you will be in charge of the pricing, you will be determinant of the market, it will answer to you by your control in the market. 

FACTORS THAT MAKES IT OF POPULAR DEMAND 

Daily Use: One of the factors that make a product to be by popular demand is when it is used on a daily basis. There are some products that are daily use. No home could survive without paying homage to such product. 

Need: It becomes by popular demand when it is a need, what is need? A must buy, to patronize, essential to the living of humanity.

Demand: Watch out for what you think people will demand for, what they are demanding for. 

Asset: Wise people are fond of demanding for asset and not liabilities. It doesn’t matter how much and scarce it is, they go after whatever is an asset. 

Investment: People place demand for investment. They rather invest than to spend their monies on things that cannot yield but will lose value.

Value Adding: There are value added product and service, that will never meet and leave one remaining the same. People will not hold their money from such product and service. 

Dapo Olaleye, an Associate Pastor in Balance Gospel Ministries International Headquarters. He is the President of Business Xploit Group with Nine Subsidiaries through which lives are blessed around the globe. Chancellor of Business Xploit institute, Facilitator in School Of Discovery (Gospel Dominion Prayer Ministries), author of seven books (Unlocking Your Potentials To Profits, Uncommon Sense Guide To Making Money, Woman! You Are A Blessing Not A Burden, Ladies Of Dignity, More Than Money, A-Z Secrets Of Academic Excellence, Becoming An Academic High Flier and Generating God’s Ideas For Business, Ministry, Career (CD)). He is an alumnus of Daystar Leadership Academy and Daystar Business Academy and Student of Word Of Faith Bible Institute. He can be reached via: bizxploit@gmail.com, 08122927079.