Experts have urged women entrepreneurs to create unique brands for their businesses in order to attract the right customers.
They spoke during the 100 Women’s International Day Conference 2019 and Mentorship series with the theme ‘Breaking Frontiers’.
The event was held in Lagos by SME 100 Africa to commemorate the 2019 International Women’s Day, which was marked on March 8.
SME 100 Africa inspires, empowers, equips young entrepreneurs and small and medium-scale enterprises in Africa by providing access to finance, market and network, among others.
The Chief Executive Officer, House of Tara, Mrs Tara Fela-Durotoye, said that it was necessary to create a unique brand in order to carve a niche in a very competitive market.
Fela-Durotoye noted that a lack of brand value could downplay a new business and also make the probability of attracting consumers very low.“
She said, “Sadly, branding is a core business activity that is often neglected by new businesses and entrepreneurs.
“If all brands are the same, customers would be confused; so, it is necessary to be unique to differentiate yourself from others.”
The Head, Retail Solutions Division, at AXA Mansard, Mrs Rashidat Adebisi, stressed the need for entrepreneurs to have passion for what they do.
According to her, entrepreneurs who have passion for their businesses are more likely to have long-term goals that would help reflect their views and know their place in the world of business.
She said, “Entrepreneurs who are new in the business world also need to understand the market before delving into it.
“They need to know the key factors in the industry so as to be able to make a difference by knowing what is trending. Entrepreneurs should be at the edge of creativity, learn and educate themselves at every chance they get.”
The Founder of Sapphire Event, Mrs Funke Bucknor-Obruthe, said it was essential for entrepreneurs to let their personality reflect in their brands.
She added that understanding oneself as an entrepreneur and having confidence would help eliminate the fear of extinction.