5 things business owners can learn from the fuel scarcity

things business owners can learn from the fuel scarcity

5 things business owners can learn from the fuel scarcity
things business owners can learn from the fuel scarcity

Fuel scarcity is the worst thing to happen and if you are a Nigerian business owner, it's definitely biting you now. You can't go to work because you are stuck in long filling station queues, you can't stay at home because there is also no power to charge your devices and close sales. Some bus and cab drivers even claim to spend the night in the queues to get some job done in the daytime.

Well, the situation is the situation but in every situation as normal, there are things to learn. We would be breaking down 5 things you can learn from the current fuel scarcity that you can use to improve your business.

Always think ahead

Always think ahead
Always think ahead

Let's be honest, we are in Nigeria; anything can happen at any time. One day, there was fuel and the next day everyone saw queues building up at filling stations. Some people spotted the queues and anticipated the scarcity, other people waited and had to shut down for a while to figure out operations in the scarcity. What you can learn from this is to be forward-thinking in business. Run your business by always being one step ahead.

Expect that sales can drop at any time and have some money saved up, prepare for if your machines stop working by having a backup and store all your customers' information in case your social media account gets deleted. The list is long, but you should never lose focus! Remain guided!

Communicate Proactively

Communicate Proactively
Communicate Proactively

Do you know what was the frustrating Nigerians apart from the long queues? Nobody was saying anything. Minister of Petroleum was just looking away and everyone was lost about what was happening. It took days before there was any sort of update. What you can learn is to communicate proactively with your customers during a crisis. Don't wait for customers to call you out on social media before you tell them deliveries would be late because of the rain or there would be a delay due to bad materials.

Read this guide to find out the best way to communicate with your customers

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Hustle for what you want

Hustle for what you want
Hustle for what you want

You know that it's the most active people at the filling station queue that get fuel quickest, right? If you are just calm, them fi chance you for the queue and if you are hoping that someone would deliver fuel to your house well you must be a JJC. The same thing applies to running a business; you need to be active in selling your products. Is it better packaging than other competitors, better product quality, better customer service, or all? You have to be ready to innovate in your business process and operations. It's the smartest way to get ahead in business.

Manage Resources Effectively

Manage Resources Effectively
Manage Resources Effectively

If you used to turn on your generator in your store whenever they take power, I'm sure you have quickly realized that condition will make crayfish bend and started managing your fuel.  

Business is just like that; there are times when resources may be low and that can be financial in terms of money to spend on specific things or even when you are short of staff required to run your business. When this happens, you can't continue to run the business, as usual, you need to make changes to suit the situation.

Make strategic partnerships

Make strategic partnerships
Make strategic partnerships

You see the fuel attendant of yesterday that you refused to give small change, today he is a king. He could be the person who updates you when fuel becomes available or when the queue gets shorter. He is a good strategic partner if the goal is to get fuel without stress.

As a business owner, you need to make strategic partnerships as well. Think of the people you can collaborate with to grow your business and make strategic partnerships with them. It could be the delivery rider or even other small businesses you can collaborate with on social media. Keep your eyes wide open for strategic partnerships.

In conclusion,

The Fuel scarcity happening at the moment isn't all fun and games, but you can learn a thing or two from it. It can help you discover new business life hacks you didn't know about, and it can help you scale up and grow your business. If you enjoyed reading this, click on any of the buttons below to share.

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Hafeedoh Balogun

Hafeedoh Balogun