By NKIRUKA NNOROM

Speakers at the Stanbic IBTC Holdings Business Leadership Series held in Lagos have emphasised the role of listening to and creating value for customers in building any successful business venture.

They said that giving customers wonderful experience that would make them to want to keep patronizing ones business is one key factor that has proved effective over the centuries in building and sustaining both start-up and large scale enterprises.

According to Mr. Sim Shagaya, founder of online retail chain, Konga, though managing a retail chain like Konga is quite capital intensive and tough in a terrain like Nigeria, he noted that listening to and following customers’ directive is one thing that has kept the business going in the face of the numerous challenges.

“We started Konga in 2012 facing fierce competition from structured international competitors that have developed the kind of master plan that would translate to immediate success in any market, but the only thing that has guided Konga in the last two years when we started with all the logistics and tech problems is one thing – just listening to customers. “And this is what we told ourselves at the beginning. Just by listening to customers, they will tell you exactly where you need to go, what future you need to build, what new products you need to come out with, what new functionality you need to come out with, what the problems are and it is amazing these days.

“I don’t know how CEOs functioned 40 years ago, because if you are a CEO now, and you just pay attention to twitter, you can hear the complaints of your customers. It wasn’t like before when you have layers and layers oflegal and senior management and you still don’t hear what your customers say. Now you can actually hear what your customers are saying and that is what Konga has been doing and we will continue to do that,” the Konga boss affirmed.

Also speaking, Vusi Thembekwayo, South African-born motivational speaker and business leader, said that no matter how big or small your business is, what the customers expect is to get value for their money. “They don’t care how big your business is, but how fast you can deliver,” he said.

He stated that the focus of any business leader should be how to retain his/her customers’ loyalty, saying that this could only be achieved by the level of loyal demonstrated by business owners themselves towards their customers.

He added that success in business also require setting clear result/target, which all employees are supposed to pursued, and by also clearly defining roles supposed to played by each individual.

Speaking at the event, the Managing Director/CEO, Stanbic IBTC Bank, Mr. Yinka Sanni, said that the business series, which was the first in the series, was conceived with the aim of strengthening the bank’s relationship with its numerous customers.

“We are always looking for opportunities to move our clients forward and we believe that the series will bring out ways for you to enhance your lives and businesses and also contribute meaningfully to the development of the nation’s economy,” he said.

“We will be looking at business leadership from various angles”. Key focus will be given to leadership in the digital age and how e-Commerce is changing the face of business globally,” Mrs. Sola David-Borha, Group Managing Director/CEO, Stanbic IBTC Holdings, had said about the Business Leadership Series.

The Stanbic IBCT Business Leadership Series is an annual event to help create deeper connections and build a new cadre of leadership among business leaders in Nigeria. The series will focus on improving leadership with the underlying goal of advancing Nigeria’s economic growth and development.

Participants are drawn from various sectors including regulators, investors and the business community.