Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Forget Fancy Names, Focus on What Really Matters: Validating Your Business Idea

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Forget Fancy Names, Focus on What Really Matters: Validating Your Business Idea · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

0:01
Hello and welcome to the show. Before we begin, apologies
0:06
because today is a very, very noisy day.
0:09
And that's because two houses down, my neighbour is trying to
0:12
get rid of a tree. They have a massive tree at the
0:15
back of the compound and they have some lumberjacks felling
0:19
the tree right now and that's where all that buzzing noise is
0:22
coming from. So don't think it's me farting.
0:24
It actually is someone with a chainsaw harking down the tree.
0:29
And it's impressive cause the fellow who is doing the work is
0:31
real masterful. He's been going, you know, going
0:34
at it for about a day now. And so far none of the branches
0:37
have hit the house. And yeah, the guy knows his
0:40
stuff. Then the usual part issues
0:43
around the neighborhood. So my neighborhood has a
0:46
commercial kitchen, you know, his staff are gathered outside
0:49
and they're doing the usual thing, you know, gossiping,
0:51
arguing, quarreling, you know, whatever.
0:53
So that's all the noise that you're going to be hearing
0:56
basically coming through the recording.
0:59
So with the apologies out of the way, let's head straight into
1:02
the question that we're going to tackle today.
1:05
Now this question is geared at people that have limited
1:10
business experience and we're going to be looking at practical
1:15
guidance for first time entrepreneurs basically.
1:18
So it's one of these long winding questions.
1:21
So we're looking at people with limited business experience and
1:24
we're trying to come up with practical guidance for first
1:26
time entrepreneurs. Now here's some of the stuff
1:29
that I think those of you who have limited business experience
1:32
and who are taking a crack at this whole thing, being
1:35
self-employed, being a business owner, being an entrepreneur, a
1:38
mompreneur, solopreneur, whatever, preneur afri
1:42
capitalist, you know, different kind of monikers out there.
1:45
So whatever it is that you're trying to do, these are a couple
1:48
of things that I think you should know.
1:51
And this list of things that I'm going to explore right now are
1:55
by no means exhaustive. So basically what I'm saying is
1:58
I might list out these things now, but as the podcasts ensue,
2:04
because in typical fashion, we're not going to finish
2:06
everything today. So I'll list out a bunch or
2:09
we'll treat one or two and then move the rest off to the next
2:12
episode. So it's possible that I might
2:14
start off with this list. I have about 5 or 6, maybe 7,
2:19
but as we go on and on and on, it's possible that some of those
2:21
things might be added onto it. So expect this to be a fairly
2:25
long treatment. So these are the things I think
2:28
people with limited business experience and who are looking
2:30
for practical guidance, these are some of the things that they
2:32
needed to know. So #1 your business name is not
2:36
as important as you think, so don't spend too much time on it.
2:40
Let me repeat #1 your business name is not as important as you
2:44
think, so don't spend too much time on it.
2:47
I am going to explore in some more details in future episodes,
2:52
so don't worry if some of these things sound counter intuitive
2:55
or if they sound blasphemous. I'm going to be able to explain
2:58
power some of these things in more detail in the future #2.
3:02
Your branding is not as important as you think, so don't
3:05
spend too much time on that. I'll repeat, your branding is
3:09
not as important as you think, so don't spend too much time on
3:11
that. For those of you branding
3:14
pundits out there, before you guys crucify me, just wait.
3:17
We will get to the episode and you will hear about my ideas in
3:20
more nuance #3 your business idea is not as important as you
3:25
think it is, so stop spending time hiding it or trying to
3:29
protect it. Let me repeat, your business
3:32
idea is not as important as you think.
3:34
Stop spending time hiding it or trying to protect it.
3:38
This is one that I have to put out there.
3:40
Oh, by the way, apologies to my legal community.
3:43
Yes, my professional background, or rather my academic background
3:47
is in law. I only practice law for two
3:49
years. So yeah, my academic background
3:51
is in law. So I know that those of my
3:53
colleagues right now who are in the intellectual property space,
3:58
intellectual property protection space, might be chomping at the
4:02
bits right now, really fuming. Now, how can I give this kind of
4:05
advice, especially someone who is learned in the law.
4:08
But like I have told the other two people, the branding people
4:11
and the business name people, just relax.
4:13
We will get to the episode where I'm going to expand on my ideas
4:18
much more clearly about why the business idea is not that
4:22
important and why some people are spending too much time
4:25
trying to hide what they're doing or trying to protect their
4:28
business idea. Then #4 there is no business
4:33
idea that is so great that it will sell itself.
4:37
Let me repeat, there is no business idea that is so great
4:40
that it will sell itself. People keep on talking about
4:43
this guy, what's his name? iPhone person Jobs.
4:47
People keep on talking about Jobs and the iPhone.
4:50
When we get to that episode, you will see how the iPhone is not
4:55
selling itself. Other people are selling the
4:58
iPhone. In fact, there's lots of great
5:00
salesmanship and showmanship that is responsible for selling
5:05
the iPhone. The iPhone is not selling
5:08
itself. So you people please stop
5:10
propagating that myth. There is no business idea,
5:14
product or service that sells itself.
5:18
So but more details in the future.
5:20
Then another thing I think that those of you guys with limited
5:24
business experience need to know, especially those of you
5:26
who are first time entrepreneurs.
5:28
Business is a team sport. Even if what you want to do is a
5:32
lifestyle business. You know if you want to be a
5:34
lifestyle business owner, just realize that business is a team
5:38
sport. So realize that and start
5:40
anticipating and start planning ahead for what your team is
5:44
going to look like. The reason why I mention this is
5:46
because some people say, look, I don't want this thing to be big.
5:48
I don't want it to grow beyond me.
5:52
So like, let's say somebody selling catfish at the back of
5:54
Mom C's house. I want this to be a lifestyle
5:56
thing. I'll push it as big as it can
5:58
go, but it's only going to be me.
6:00
If it's only me and I'm able to take you to the level where it's
6:03
giving me three M every year, no problem, let me be happy with
6:06
the three M. If I push it to 50 M but it's
6:08
only me, then be happy with the 50 M.
6:10
So that's the whole idea about lifestyle business.
6:13
You're not thinking about putting reputable systems, well
6:18
tested frameworks, standard operating procedures.
6:22
You're not trying to build anything beyond yourself, but
6:25
still just realize that business is a team sport even for people
6:29
who want to do this lifestyle thing.
6:31
So we will explore some of that in the future.
6:35
So these are the five things that I want those of you with
6:38
limited business experience to know your business name.
6:41
It's not that important. Stop wasting time.
6:43
Your branding is not as important as you think.
6:46
Stop spending too much time on that.
6:48
Your business idea is not as important as you think.
6:51
So stop trying to hide and stop trying to protect this, your
6:54
business idea. Then there's no business idea
6:57
that would tell yourself, so stop looking for that massive
7:00
mega super whatever thing that once you touch the thing will
7:04
sell itself and then you become a millionaire.
7:05
Stop session for that thing. And then realize that business
7:08
is a team sport. Even if it's just going to be
7:11
you and only you. We're still need a team around
7:15
us. And I'm going to explore some of
7:17
these things in future episodes. So like I said, these are too
7:19
many items to go over in one episodes we're going to tackle.
7:22
Let's see if I can do 2IN each episode so I can get this whole
7:28
series done in maybe three recordings or so.
7:32
But like I said, while I'm recording, if anything else pops
7:35
to mind, I might add something on the list.
7:37
So let me go to the first one, and that's about the business
7:40
name. So I've said it, I think I've
7:43
said it four or five times already.
7:45
I'll say it again. Your business name is not as
7:47
important as you think. So don't spend too much time on
7:50
it. The reason why I'm starting off
7:53
with this is because too many people waste time when it comes
7:55
to this whole thing of business names.
7:58
Some people say, should you name yourself the business after you
8:02
or should you pick a corporate sounding name?
8:04
Now these are debates that I'm well familiar with because even
8:08
though my academic background is in law, in fact, let me continue
8:12
with that, my academic background is in law.
8:14
I did corporate practice, sorry legal and practice for a while.
8:17
And then after that I did wedding photography.
8:20
So in these spaces, these are things that people talk about
8:23
all the time. Should you name your law firm
8:25
Baba Lakin Co? If you name it Baba Lakin, that
8:29
means you might not be able to build an international brand.
8:33
And yes, Baba Lakin is the name of one of a Nigerian son.
8:36
And then there are some people that say no name your, give your
8:39
business name something corporate sounding.
8:41
So there's a firm called Alex that's a ELEX.
8:45
So like Alex. Yeah, that sounds international.
8:47
It sounds corporate. It gives room for the business
8:50
to grow. So there are these sorts of
8:51
debates. As a lawyer, should you name it
8:53
Okichuko and Sons, Babalaki, Anko, Abdul Kareem and Sons?
8:59
Or should you give it a fancy name like Alex?
9:04
Let's see, what else? Aurora Legal Practitioners or
9:09
Interstellar Solicitors Limited, you know, so those debates, the
9:14
rage, they are bound all the time.
9:16
Then you move out to the wedding space and then there are people
9:18
who have these debates. It still continues till today.
9:22
Should you call yourself Tereshima and son's wedding
9:24
photography or should you call yourself?
9:28
There was there was a team that I knew it was the husband and
9:31
the wife. I'm not going to use their real
9:32
names, but it was husband and wife.
9:34
So it was kind of like James and Juliet wedding photography or
9:39
should you get something corporate sounding?
9:43
So there are all these debates that keep raging.
9:46
And I can assure you that if they are there in legal and
9:50
they're there in the wedding and the event space, I'm sure it
9:54
applies in engineering and architecture, in lab, practice,
10:00
fashion, whatever. So my own take on this thing is
10:06
this, it is your aspirations that determine the kind of
10:09
business that you build and not the name.
10:13
So those of you who are engaging in this debate here and there,
10:15
you're wasting time and you're confusing people because there's
10:18
somebody who is genuinely thinking right now, should I
10:21
call this thing Alisa wedding photography or should I call it
10:29
Aurora Lights wedding photography?
10:32
And the poor young girl is wasting too much time thinking
10:35
about the perfect name. It's not about the name.
10:38
It's not the aspiration that will determine the kind of
10:40
business that you build. Now, let me give an example.
10:44
Nigerians, we know of Dangote. Dangote is the man's name.
10:48
It's not even the family name. It is that one man.
10:52
It is his name. But nobody denies that what we
10:56
have is an international conglomerate.
10:59
It's Nigeria, what else? You know African countries for
11:04
now. But there's, you know, Dangote
11:07
is still a young man. I mean, youngish compared to
11:11
those of you who's fathers are still alive.
11:14
You say that, OK, he's a youngish fellow.
11:17
So there's still time. I'm sure that we're going to see
11:21
the expansion of the Dangote Empire over time.
11:24
But the business is named after him.
11:27
But clearly he has international aspirations, and he has an
11:31
international conglomerate. So whether he named it Dangote
11:37
or whether he named it Interstellar was not the
11:40
important thing. His aspirations were the main
11:43
thing. So the fact that he named it
11:45
after himself, not even the family, has not been a limiting
11:49
factor. Then we also have Warner
11:52
Brothers. I mean, how basic can that be?
11:57
You get into business with your brother and then you decide to
12:00
call it the Okechuku brothers. It's that sort of thing.
12:03
So Warner Brothers, but they are into international movie
12:08
distribution. The same thing with Walt Disney.
12:12
Disney is the man's name. OK, you can say the surname, the
12:16
family name, but it's the same thing, international movie
12:19
distribution. So you can see that in this
12:22
case, the fact that these people name their businesses after
12:26
themselves or after the family did not limit the scope, did not
12:31
limit the scope of the growth of their businesses.
12:34
Let me give another example. In Lagos, there's this school,
12:37
Laura and Flora, I think it's Laura and Flora.
12:40
International School. It is called Laura and Flora, it
12:43
is called International School. But even though it's called
12:48
international, it's based in Lagos only.
12:50
They don't have Abuja branch, They don't have, they don't have
12:57
what Inugu branch, you know. But international is in the
12:59
name. So it's not about whether you
13:01
put international in the name or not, it's about whether you have
13:04
international aspirations or not.
13:07
Sony Music, named after the man. Well, currently international
13:11
movie distribution, international music
13:14
distribution, international electronics distribution.
13:17
So we can go on and on and on and on and on.
13:20
What matters is not the name. I mean Amazon.
13:23
What is Amazon anyway? Is it the warrior or is it the
13:27
reference to the rainforest? Some people say it's the
13:30
rainforest. Whether it's the rainforest or
13:32
whether is the Amazon, the female warriors or Greek myth or
13:40
of the Republic of Bennett myth because they had Amazons as
13:43
well. So what about the rationale?
13:45
You can see that Bezos has built a company and it's national
13:49
company that is not tied to whatever associations that the
13:52
name might have for you or or for me.
13:56
So the name is not that important.
14:00
Forget about whether it is a family name, whether it is your
14:02
name, whether it is corporate sounding or whatever.
14:05
What are the aspirations of the business that you are trying to
14:08
build? Oh yeah, I forgot one.
14:09
Lehman Brothers. Yeah, I think Lehman Brothers, I
14:11
think those are the ones that were the Jewish boys that behind
14:17
the international bank, you know some Jewish boys and eventually
14:20
becomes a big banking family. So that one is even like family
14:24
business, like the kind of thing that happens in Nigeria, like a
14:27
man has a business idea and starts it and then he says, oh,
14:30
I have five sons and you five sons, you are going to inherit
14:35
this business after me and continue to grow this thing.
14:37
So it is that kind of thing. It's a very nice I think.
14:40
But then today is Lehman Brothers family business or an
14:43
international business. So those of you that's some of
14:46
you that are just spending too much time on this name issue.
14:49
So the name is not that important.
14:53
It's how quickly that you can take action and validate the
14:56
idea. So for Lehman Brothers, I can't
15:00
remember the whole, you know, the whole scope of the whole
15:03
thing. But because of their interests
15:05
and things like that, they're able to prove that there is a
15:10
need for international banking, cross-border finance, you know,
15:14
those sorts of things as like there was a need for the idea.
15:17
So of course the thing took off, whether the thing was named
15:20
Lehman Brothers or whether the thing was named Zion.
15:23
OK, no, if they named it Zion International, maybe that would
15:26
have been a different thing because you know, this whole
15:28
thing with anti-Semitism, so they named it Zion Brothers
15:31
International that that might have been a problem.
15:33
OK, well so there are some situations where some names
15:36
might be problematic, but you guys get the gist of what it is
15:39
I'm trying to say. So the business idea, so that's
15:44
the most important. It's about how quickly you take
15:48
action and validate the idea. So stop taking weeks to get the
15:51
perfect name because there's some people that take weeks,
15:54
maybe months to get the perfect name and then they realize that
15:57
there is no demand for the business idea.
16:00
Then they shut the whole thing down.
16:02
I mean, you've wasted time. You take like three or four
16:04
months, select the perfect name, come with the branding and
16:07
everything and then like there's no, there's no room here for
16:10
business growth name, shut it down.
16:12
So instead of using weeks to select the name, try and use a
16:15
couple of days or weeks to validate the business idea and
16:18
show that there is demand for the idea in the 1st place.
16:22
After that, you can come up with the name and then do
16:24
incorporation and all those things after you have validated
16:28
the business idea. Now, if you're new to this
16:31
podcast, some of you are going to ask how do you validate the
16:34
business idea? It's too long to go into
16:36
details. I've done previous episodes on
16:38
that because we have over 865 episodes of the podcast so far.
16:43
So if you are using services like what's it called?
16:50
There are some podcasts catchers that allow you to search within
16:54
the podcast. So if you're using one of those,
16:56
then just search within the podcast.
16:57
Just try validate validation, demand, you know, things like
17:04
that. Then the older episodes that
17:06
I've made about these sorts of things will will come up and
17:11
then you can learn in detail how to validate your business idea.
17:14
But summary, to validate the business idea, you have to be
17:17
engaged in some form of sales actions, sales motions that will
17:22
show whether there's demand for the idea or not.
17:26
In other words, summary, what I'm saying is you want to
17:28
validate the business idea, go out and try to sell something.
17:32
If people buy, that's a sign. How quickly people buy is a
17:36
sign. How much people are willing to
17:39
pay is also a sign. Those are the things that you're
17:41
paying attention to. So if nobody buys, sometimes it
17:45
might be a sign that you're just crappy at sales, you know, So
17:49
there's, there's some art and some science to the whole thing.
17:52
But bottom line is until you go out and try to sell something,
17:56
you are not going to know whether this is a, a viable
18:00
business idea or not. So it's not about the name.
18:03
Try and validate the business idea and get this thing going
18:06
sharp, sharp. So there are going to be, there
18:09
are some of you who listen who are listening to this episode
18:11
right now that they are not convinced.
18:14
It doesn't matter what I say. It doesn't matter who says it,
18:18
they're not going to be convinced.
18:19
They still want to come up with their name 1st and they still
18:22
want to do business registration first before doing anything.
18:25
All right, Noah Allah, no problem.
18:28
In the past, when I gave this sort of advice, I didn't have
18:31
any good alternatives for you. For those of you who say you
18:34
must do business name, now we have a game changer.
18:38
Things have changed. You can use artificial
18:40
intelligence and come up with a name in a day or two.
18:44
Coming up with a good name does not need to take three weeks, 4
18:48
weeks, one month again, you don't need to now pay a branding
18:52
specialist and all that to get the perfect name anymore because
18:55
artificial intelligence can help with that.
18:58
And then besides, I say this time and time again, you can
19:02
always change business names later.
19:03
So it's not that important. Facebook became Meta, Google
19:07
became Alphabet and we know Nigerian businesses that have
19:10
started off as one thing and then eventually change name to
19:13
something else. So business name can always
19:15
change. So it's, it's not a problem.
19:18
Now for those of you who doubt that looking for a business name
19:22
can be done pretty quickly in a a day or two, in fact, not even
19:27
a day, I will say in minutes, you can come up with names now
19:30
in minutes, Max, let me say hours.
19:34
Let's look at the case study. And this is something I did
19:36
myself just to prove it to you guys.
19:39
And you can run the experiment. You can run the experiment as
19:42
well. So the case study is this
19:45
fictionary. This is a fictional scenario.
19:47
I'm a 26 year old guy living in Lagos, Nigeria and I want to
19:51
start a business. I want it to be a bar that sells
19:55
peppered and grilled catfish. Why am I going on about this
19:58
catfish? For those of you who listen to
20:00
the show for any length of time, you know that I don't eat fish.
20:04
But I come from a family that loves fish.
20:07
My wife, my family, my mom. See my siblings apart from my
20:12
brother, they all love fish. So this is their thing.
20:15
You know, grilled fish. Smoked fish, filet mignon fish,
20:23
any kind of fish. If it's fishy, they eat it.
20:26
But I don't. So that's why I keep going on
20:31
about the catfish thing. OK, so I want to start a bar
20:33
that sells peppered catfish, grilled catfish, and we're only
20:37
going to serve it with energy drinks and we're going to serve
20:40
it with vaping. You know, this alternative to
20:44
cigar cigarettes, Yeah. So we're going to do some vaping
20:48
in the bar. So it's going to be catfish and
20:50
energy drink drinks only, no alcohol.
20:53
Then we're going to have vaping, vaping, you know, different
20:57
flavours, maybe have some shisha.
21:00
And it's going to be like a lounge kind of setting.
21:02
And then we're going to have 24 hours connection to UEFA League,
21:06
other sporting events, things like that.
21:08
Now this business, the target is going to be men between the ages
21:11
of 23 to 34 and the vibe that we're going for is something
21:15
masculine as in, you know, you get like rugged boys only and
21:21
because I wanted to be a hangout exclusively for men during the
21:23
week. So I took this whole story that
21:27
I've given you now I typed it up and I threw it into Gemini.
21:30
Gemini is my AI of choice just because I'm an Android user.
21:34
So I have access to Gemini. No need to create account and
21:37
blah, blah, blah. But you can do the same thing
21:39
with CHA GPT or with what's this other one?
21:45
OK, I can't remember, but you know that there are plenty of
21:47
them. Sure, plenty.
21:49
And they keep inventing new ones every every five or six months.
21:54
So I threw it into Gemini. You can do the same thing for
21:57
charity BT or for Bing or for whatever it is that you'd like
21:59
to use. And I told Gemini, come up with
22:02
some good names for this kind of business, for this kind of
22:05
establishment that I'm trying to create.
22:08
Oh, by the way, please, ladies Novex, don't be offended though.
22:11
I'm not saying that ladies are less than.
22:13
I'm just looking for the most outlandish scenarios possible to
22:17
show you that whatever it is, you can come up with business
22:20
names. That's the reason why I'm saying
22:21
this thing is going to be exclusively male and we're not
22:24
even going to sell, sell alcohol because, you know, usually this
22:27
kind of establishment, you know, alcohol must be.
22:29
And in fact, alcohol is going to be where most of the profits
22:32
will come from. So I'm saying now that OK won't
22:34
even sell alcohol, will serve energy drinks, will do vaping
22:36
and then we'll do shisha and then it will be men exclusively
22:40
as per like we don't even want babes, no babes allowed.
22:43
So I'm not saying women are less than.
22:45
I'm just coming up with an outline this example now Google
22:49
Gemini gave me some interesting ideas.
22:52
And so let's let's see what Gemini came up with.
22:56
So it broke into different categories.
22:59
Gemini came up with names that have a masculine vibe.
23:02
One was the gents quarters. Gents as in gentlemen, you know
23:06
for short. The gents quarters.
23:08
You see the idea there is a space for men.
23:11
Another one that he came up with was Ironside Lounge is trying to
23:16
evoke a sense of strength or masculinity.
23:19
Then it also came up with another name, the Bullpen.
23:23
This is supposed to be like a relaxed hangout for guys.
23:27
Another one of the locker room that is at a sports oriented
23:32
atmosphere. Also a masculine feel.
23:34
Another name, the Den, you know the den who hangs out in dens,
23:40
you know lions, you guys are catching the drift.
23:43
So you can see that this masculine vibe.
23:44
You can see that these names are not bad.
23:46
Gents quarters, Ironside lounge, the bullpen, the locker room,
23:49
the den. If I take any of these ones and
23:52
I start just running this business because I want to see
23:54
is there on demand, you can see there is not bad.
23:57
I can start with the locker room and then later on like this
24:00
locker room self like OK, this business is here, but I think
24:03
this name is holding me back and then I can switch and then call
24:06
it. Then it also gave some
24:09
suggestions about names that highlight the catfish and the
24:12
sports, and these are some of the options.
24:15
The catfish corner offside catfish half time grill the
24:22
penalty box and grill the catfish tackle.
24:28
So you can see that these ones are not as bad, are not bad,
24:30
although I prefer the first one, the whole masculine vibes thing.
24:33
But this one is not bad. In fact, this name, the penalty
24:36
box and grill, you know, I like that thing and that's a cool
24:38
name. Can imagine some guys, you know,
24:39
you finish from the bank and say, oh boy, how far now they go
24:44
Penalty boxer say where they go now you know, it's I think it's
24:47
catchy. It's good enough.
24:49
Then it also came up with suggestions about names with the
24:52
Lagos influence. So there was Eco Catfish Club,
24:56
Lagos Catfish corner, the Island grill.
25:00
That's if we locate the bar on the island 3rd mainland catfish,
25:05
if the place is near 3rd mainland bridge and even came
25:09
out one interesting name like you know, Fella's corner that's
25:12
referencing, of course, the famous Afrobeat musician fella
25:15
has a name with local significance, assuming that it
25:19
blends with all thing because you you know, that fella used to
25:22
he used to light up. He used to split up.
25:25
So since we're going to be doing shisha and vaping in this place,
25:30
so I guess it's OK fellas corner.
25:32
Then it also came up with names that focus on energy drinks and
25:37
vaping. So the buzz bar, I like buzz
25:39
bar. That's nice.
25:41
Cloud 9 lounge. That's also a good one.
25:43
You know, cloud 9 now, like you know, when you light up now,
25:46
when you hit that, when you hit your blunt, you know, you you
25:50
understand now and your brain will open up and you just you
25:54
know, you go to the you get to that.
25:58
You know, your brain is opening up and you're making some divine
26:00
connections you connect with when you're connecting all kinds
26:04
of spiritual levels to the universe.
26:05
You know, that's cloud 9. So Cloud 9 lounge, that's good.
26:08
There was one here. I don't think it's workable.
26:11
The ohm zone, Ohm as in Ohm. I don't think that's going to
26:17
work in the Niger context. The voltage lounge lounge as far
26:22
the energy drink thing. And then there was another name,
26:24
the full charge bar. So you can see that I just typed
26:29
out this whole thing and this thing gave me responses like
26:31
that sharply. It didn't take time typing this
26:35
case study, throwing it into Gemini Gemini giving me
26:39
responses those whole exercise. This thing didn't take me 10
26:43
minutes and I got some good names.
26:45
I like Ironside lounge. It's cool.
26:48
I like penalty box and grill. That's a nice one there.
26:53
What else? What else?
26:54
What else? What else?
26:56
Climb 9 lounge. I like that one see can see that
26:59
these names are not bad. I can take any of the three.
27:01
I'll start this my business. Most important thing is I'm
27:05
trying to validate that this is an idea that might work because
27:08
people might go there for the catfish and they might complain
27:11
that my boy, like, what's up with you now?
27:13
What's with all these energy drinks?
27:14
Like, where's the alcohol? Like give us alcohol.
27:18
So if that's the market feedback, then of course I have
27:19
to change my whole business, whatever that, you know, boys
27:22
are loving the catfish, but they care nothing about the energy
27:25
drinks. And it might be that people
27:28
don't even want vaping, the only place where they can't smoke the
27:31
real cigar itself. Or maybe they might want Igbo or
27:34
something else. Igbo is who are non Nigerian.
27:39
Igbo is what's that one Mary Jane, Indian hemp.
27:43
Yeah, hemp. So it might that people might,
27:46
might not want the vaping thing and be like vaping is for
27:48
children, like give us the real thing.
27:51
So this is what I mean about the most important thing is not the
27:54
name. Just start and then try and
27:55
validate the business idea. You will see that some things
27:59
are moving, there's demand or some stuff.
28:01
Some things are not moving, there's no demand.
28:03
So you now be changing and tweaking the business idea as
28:06
you go along. Anyway, summary, what I'm trying
28:08
to say is don't let name hang ups stop you.
28:12
Just choose a name today and start work immediately.
28:16
The problem isn't the name. The problem is whether you can
28:18
validate the business idea, whether you can show that
28:21
there's market demand, whether you can achieve product market
28:24
fit, whether you can create a profitable customer base.
28:27
And I'm sure you guys, you get where I'm heading at.
28:30
So let this name thing stop tripping you up.
28:32
But if you insist I must have a name or before I start, then no
28:35
problem. This exercise, I did it on
28:40
Gemini, so it's available. No need to create account.
28:43
You're an Android user. Whip out your phone, just do the
28:46
same thing. If you're wondering about how
28:48
you get the best responses from these sorts of things, they need
28:53
to know how to prompt. I did a podcast episode where I
28:56
was talking about using AI and prompting and things like that.
28:59
So if you're using a podcast catcher that allows you to
29:01
search within the app within the podcast, then search there, use,
29:09
gosh, what did I call it? And it just put AI.
29:12
Let's, let's see what comes up. Prompting, put AI, put prompting
29:16
or put a prompt. I think there's something about
29:19
the anatomy of a prompt. Try the anatomy of a prompt and
29:21
then see what comes up. You have my podcast episodes
29:24
there where I described or how to come up with the right prompt
29:27
so you can get the good business name for you.
29:30
OK, it's ready. 30 minutes. So I failed.
29:32
I can't do two in one episode. So let me just wrap it up here.
29:35
So please connect with me on WhatsApp.
29:36
The number is 08064662140. The country code is +234.
29:43
For those of you who are not Nigerian, then connect with me
29:46
on LinkedIn. My name is Tavishima Ayede.
29:48
I'm the host of the show. You can confirm the spelling of
29:51
my name and the e-mail address from the link.
29:53
We're currently listening to this episode.
29:55
Thank you very much for your time and attention.
29:56
I'll catch you guys at the next recording, where we will move on
30:00
to. Sorry.
30:01
Let me look at my notes. The second one was OK.
30:04
A branding. Yeah.
30:05
I always like quarreling with you branding boys and girls.
30:07
So tomorrow I will open the argument with you branding boys
30:11
and girls. Tomorrow we're going to why your
30:13
branding is not as important as you think.
30:15
So yeah, I'll catch you guys then.