Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Wendy, Patrick, & Kingsley: Your Business Questions Answered

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Wendy, Patrick, & Kingsley: Your Business Questions Answered · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:01
  Hello and welcome to the show. Taking today's recording at my
• 0:04
  desk and hopefully there shouldn't be any interruptions
• 0:07
  today. If this is your first time of
• 0:09
  discovering the podcast, this is not a show about me, but rather
• 0:14
  it's a show that is focused on free business education.
• 0:18
  So if by the time you are done listening to the podcast, you
• 0:21
  feel like there's some value here, then share, promote and
• 0:23
  talk about the show so that your friends and family members in
• 0:26
  Nigeria and abroad can benefit from the questions that we
• 0:29
  tackle. They can do that by subscribing
• 0:31
  Spotify, YouTube, Apple or any player of their choice.
• 0:34
  And if you, dear listener, have any questions, any sales and
• 0:38
  marketing related questions, then bring them to me.
• 0:41
  You can call, you can SMS, you can WhatsApp me on 08064662140.
• 0:48
  Now today on the show, let's see, looking at my notes, aha.
• 0:53
  So today on the show, we're going to have more answers from
• 0:59
  from the radio show. So for those of you who are
• 1:01
  listening for the first time, I also have a radio shows, the
• 1:03
  business booster show on Radio Maria Abuja 91.3 FM can only be
• 1:09
  heard live. A bunch of you have already
• 1:12
  called in by the way. Thank you very much for those of
• 1:14
  you who listen to the podcast and who also call into the show,
• 1:17
  like Wendy and Emmanuel and I can't remember two or three
• 1:22
  other people. It's an absolute ego boost, you
• 1:25
  know, to be there live on the air.
• 1:27
  And then hey, what do you know, somebody calls the person also
• 1:29
  is a podcast listener. So thank you very much for the
• 1:32
  support and for the encouragement.
• 1:34
  Now Speaking of Wendy, Wendy podcast listener who also called
• 1:38
  into the show, she had a question and the situation was
• 1:42
  this. Now, Wendy, like most of us, has
• 1:44
  multiple businesses and she wanted a way to talk about those
• 1:49
  businesses when in front of potential customers, in front of
• 1:52
  potential clients without sounding unfocused because we
• 1:56
  all know how that conversation goes, like, hey, what's up, how
• 2:00
  you doing, blah, blah, blah. Yeah, my name is Tavish Shima
• 2:02
  and I'm currently in AI Who? And then I have this side
• 2:05
  hustle, we do poultry, then also have this side hustle.
• 2:10
  I'm into import and export of cars.
• 2:13
  And then I also have this side hustle, me and my wife, we run
• 2:17
  in daycare. And then I also, you know, so as
• 2:19
  you say, and then I then, but I do this, I also do this, I also
• 2:23
  do that. You end up sounding unfocused.
• 2:26
  Now there's one thing I said on the air that I'm going to repeat
• 2:28
  here, having one or two rounds or maybe two or three, you know,
• 2:33
  I understand. But by the time you start
• 2:35
  getting 5678, I personally believe that you, you're in that
• 2:40
  situation truly, truly, you're all focused.
• 2:42
  And let's be straight here. Nobody is superhuman.
• 2:46
  There's no how that you're going to tackle, you know, 567 things
• 2:49
  and get them to fly all at the same time.
• 2:51
  It just ain't going to happen. The problem is some of you look
• 2:55
  at Dangote and some of you look at some American types and then
• 2:58
  you say serial entrepreneur, serial entrepreneur.
• 3:01
  You know, you forget that when you hear serial entrepreneur
• 3:04
  like, like serial killers. The serial means one after
• 3:09
  another. It doesn't mean at the same time
• 3:12
  the serial killer who killed 45 people didn't kill the 45 people
• 3:18
  at the same time. The person killed one person
• 3:21
  after another and after another. Now I know that's a distasteful
• 3:26
  example, but I just want us to get our thinking right.
• 3:29
  Serial entrepreneurs did not build everything bound in one
• 3:33
  sitting. It was one after another after
• 3:36
  another. So if Elon is your guy, there's
• 3:39
  one other business before the payment thing, you know, with
• 3:43
  PayPal Mafia, and then another and another and another.
• 3:46
  You build one thing, the thing will settle first.
• 3:49
  The thing is stable first. The thing is growing first, then
• 3:52
  you move on. Then let's come back home, down
• 3:54
  with it. It's the same thing I hear.
• 3:57
  I don't know. I have not confirmed.
• 3:58
  I have not read his biography and I don't know the guy.
• 4:01
  If you have down with his phone number please hook us up.
• 4:03
  He sounds like a correct guy. I would like to get to know him,
• 4:06
  you know, just chill, hang out with him, you know, just shoot
• 4:08
  the shit, you know, talk yet know each other.
• 4:10
  So if you you're connected with down with it, please let me
• 4:13
  know. Hook a boy up.
• 4:15
  So for dangity, I even hear that he started trading first from
• 4:20
  trading, then importing cement from importing cement, then let
• 4:24
  us set up cement factory and then like that and like that and
• 4:27
  like that. And then now he has the
• 4:29
  refinery. So cement is solid standing
• 4:33
  refinery solid. Well, OK, well, refinery is
• 4:36
  still new as a 2025 S refinery looks like it's going to be
• 4:40
  solid standing. Spaghetti is there standing.
• 4:43
  Sugar is there standing, Salt is there standing.
• 4:46
  But he did not start cement and sugar and salt and refinery on
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  the same day. So use serial intrapreneur
• 4:56
  types. Remember the cereal part?
• 4:59
  Cereal means we tackle 11 after another after another after
• 5:04
  another. And just like when they say
• 5:06
  somebody is a cereal womanizer, it doesn't mean that the guy
• 5:09
  cancelled 5 chicks at the same time.
• 5:11
  It is one after another after another after another.
• 5:15
  OK, let me stop before I use another Distasteful analogy,
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  distasteful metaphor. So let's get back to Wendy's
• 5:24
  situation now. OK, so this is my advice.
• 5:29
  Now, sometimes you worry too much.
• 5:31
  I want to say when we're with potential customers, but the
• 5:34
  focus should actually be to the other party, or rather on the
• 5:37
  other party that you're talking to because that is what will
• 5:39
  determine what you're going to see and which of your businesses
• 5:42
  that you are going to focus on. So let me repeat, it's not about
• 5:46
  you. It's not about your branding,
• 5:48
  it's not about your packaging, it's not about how fluent you
• 5:50
  sound. It's about who am I talking to
• 5:52
  right now? What are their needs?
• 5:55
  Where are they coming from? What are they trying to achieve?
• 5:57
  What are they running from? That is what will determine the
• 6:01
  kind of service that you are going to talk to them about if
• 6:06
  you have multiple businesses. So instead of saying hi, I'm
• 6:12
  Wendy, I'm a wedding planner and I also have other businesses in
• 6:16
  tech and also have other businesses in XYZ.
• 6:19
  Instead of saying that, which will make you seem kind of let's
• 6:24
  forget the on focus thing. The biggest problem actually is
• 6:26
  that if you start a conversation of by saying hi, I'm Wendy, I'm
• 6:28
  a wedding planner, also have businesses in tech and XYZ.
• 6:32
  Problem is the person leaves our conversation and there's nowhere
• 6:35
  for the person to slaught you in their mind about what they do.
• 6:39
  So for those of you listening to the podcast now, because you
• 6:43
  only have one association with me, if you know someone who runs
• 6:46
  a business who has three or four sales people and they're kind of
• 6:50
  struggling and the person is complaining, I will pop into
• 6:53
  your mind because there is a very neat and clear category in
• 6:58
  your mind that you have slotted me into.
• 7:01
  Like, oh, that guy, that podcast I listen to, what's his name?
• 7:05
  Oh, let me check my YouTube. Let me check here.
• 7:07
  And then you find me because there's a very clean category
• 7:10
  that you have put me in. So if you come and say hi, I'm
• 7:13
  Wendy, I'm a wedding planner, also have businesses in tech and
• 7:16
  also have business in XYZ. There is no clean category that
• 7:20
  you can just slot Wendy into. So we should try to get the
• 7:26
  other person talking, focus on getting the other person
• 7:29
  talking. And that will determine what it
• 7:31
  is that we are going to now emphasize whether we'll talk
• 7:33
  weddings or whether we'll talk tech or that we'll talk the
• 7:36
  other businesses. So instead of hi, I'm Wendy, I'm
• 7:41
  a wedding planner and I also have other businesses in tech
• 7:43
  and ABC. We say hi, I'm Wendy and you are
• 7:48
  on your way to hear the person's name.
• 7:50
  Nice to meet you. What do you do?
• 7:52
  And then you continue to flow from there.
• 7:54
  The person is talking, the person is talking, the person is
• 7:56
  talking from there you now say, oh, funny you mention that I
• 8:00
  actually have business interest in tech.
• 8:02
  Me and my team, we're currently working on AI and how we can do
• 8:06
  this, this and that that, that that.
• 8:08
  Is that the sort of problem that your business has?
• 8:10
  So. Oh, yes, actually it is.
• 8:12
  Oh, OK, cool. I'm going to be in your part of
• 8:14
  town Wednesday next week. Can I come over to your office?
• 8:17
  9:00 Let's have a conversation. Let's see if me and my team will
• 8:21
  be able to help. Oh yeah, sure.
• 8:22
  That works perfectly. So you see, I'm having a
• 8:26
  conversation with the person. And by hearing what problems it
• 8:29
  is that they have, you now know that.
• 8:31
  OK, now it is time to talk about my tech skills or my tech
• 8:35
  business. There will be other times when
• 8:37
  you'll be like, oh, OK, this is the perfect time to talk about
• 8:40
  my wedding planning. And then of course, if you are
• 8:44
  in a general networking session, for instance, just the
• 8:51
  conversation of what brings you here or how do you know so, so,
• 8:54
  so and so assuming so and so is the host.
• 8:57
  Like if I'm hosting A networking session, let's say in Abuja for
• 9:01
  all the listeners of my show and you know, I guess it will be an
• 9:05
  OK question to answer. Oh, OK.
• 9:06
  Apart from the podcast, what brings you here?
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  You're very general, very open. Get the person talking.
• 9:12
  So that should be the focus. Don't focus on you and how you
• 9:16
  can say everything, right? Focus on the other person.
• 9:18
  Who are they? Where are they coming from?
• 9:21
  Where are they running to? I'll be, what are they running
• 9:24
  from? What are they aiming for?
• 9:26
  What are they trying to avoid? What are the biggest problems
• 9:28
  that they face? You know, all those sorts of
• 9:30
  questions. That is all determined, but I
• 9:33
  also mentioned to Wendy that for social media, unfortunately we
• 9:36
  have to choose and we have to come up with a deliberate
• 9:38
  strategy. So since Wendy does events and
• 9:42
  then she does tech, my own guess is Instagram.
• 9:46
  Since Instagram is good for multimedia, you know, audio,
• 9:51
  video, photos. My guess is Instagram would be
• 9:55
  good for the wedding planning. LinkedIn seems more formal, more
• 10:01
  official. I could be wrong but it's just
• 10:03
  the vibe me I'm getting for now. So maybe for LinkedIn that's
• 10:06
  where I should should put all the other tech things.
• 10:10
  So for social media we will have to pick because it's even worse
• 10:15
  on social media. If you don't believe me, when
• 10:19
  you're going to social media and you see one of those people on
• 10:21
  LinkedIn, for instance, who their bio is like 6 lines long
• 10:26
  and it says serial entrepreneur, multi hyphenate, crypto
• 10:32
  enthusiasts, real estate mogul, this that as in you know, 5 or 6
• 10:38
  lines of all that crap. You finish just close your eyes
• 10:42
  and then try and say, OK, what does this person do?
• 10:45
  You can't think of anything because it's 5 lines or what are
• 10:48
  rubbish. But if the person just puts one,
• 10:51
  only one, you open it on LinkedIn, you see and then the
• 10:54
  person is written there. Crypto enthusiast.
• 10:58
  Even though you're not sure what a crypto enthusiast is, the next
• 11:01
  time you hear crypto, you remember, oh, Chukudi, I saw
• 11:05
  Chukudi's profile last week. I think Chukudi is into
• 11:08
  something crypto related. Let me buzz Chukudi.
• 11:11
  Hey Chukudi, what's up hiding? I saw a LinkedIn profile, but I
• 11:14
  said crypto enthusiast, you know what exactly do you do?
• 11:17
  So you see one thing so that somebody can slot you into their
• 11:21
  head in one convenient category. So for social media, we have to
• 11:28
  pick a lane. Then next there was a Patrick
• 11:31
  Sylvester who called from Luby and OK, Patrick was one of the
• 11:35
  people who was trying to be helpful because on the radio
• 11:38
  show, of course, I give people advice.
• 11:40
  And then other people who also think who also have useful
• 11:44
  perspectives to lend also call as well.
• 11:46
  You know, it's it's a free show, so it's not a problem.
• 11:49
  So I had spoken the week before, I had given some advice to
• 11:55
  another caller who was Anita, who was looking for connections
• 11:58
  into the world of industrial cleaning.
• 12:01
  And one of the suggestions I gave her was to join the Abuja
• 12:04
  Chamber of Commerce. And so Patrick called, that's
• 12:09
  another listener of the show. And in his own opinion, he said
• 12:13
  I should have taught her about the fundamentals of cleaning and
• 12:16
  the equipment. And I admitted, yeah, that was a
• 12:18
  good idea. But actually it's beyond the
• 12:19
  scope of the show. And because it's beyond the
• 12:22
  scope of the show, and also because as a sales and business
• 12:26
  development consultant, I do not know everything in the whole
• 12:29
  wide world. I know a lot when it comes to
• 12:33
  sales, especially personal sales.
• 12:35
  Like I want to introduce myself to somebody.
• 12:38
  I want to be connected to this person or I'm talking to this
• 12:41
  person. The person is refusing to buy.
• 12:44
  The person is not agreeing for a meeting.
• 12:46
  The person disagrees with my agenda.
• 12:48
  How can I move this relationship forward?
• 12:50
  How can I move this agenda with this stakeholder, you know, to
• 12:53
  the next level? Those are the kinds of problems
• 12:56
  that I solve, and I know a lot about that, but I don't know
• 12:58
  every conceivable thing under the sun.
• 13:01
  So I told the audience that, yes, it would be nice when
• 13:05
  somebody calls and they want to get into industrial cleaning, It
• 13:07
  would be nice if I can have some advice for them about the
• 13:09
  fundamentals of cleaning and equipment.
• 13:11
  What is beyond the scope of the show?
• 13:12
  And it's not realistically possible.
• 13:14
  I mean, yeah, I'm a smart dude, but I can't know everything.
• 13:18
  It's not possible. And that's precisely the reason
• 13:20
  why I always keep saying on my radio show that people should go
• 13:24
  out and then work first, especially things that have
• 13:28
  highly technical components. So fisheries and poultry,
• 13:31
  there's some people have called in for advice on those sorts of
• 13:34
  businesses. None is technical.
• 13:35
  Go online work. I can't tell you which kind of
• 13:38
  catfish is the best to buy or when catfish is sick, what
• 13:42
  protocols to clean your water or how to treat the catfish or
• 13:46
  whatever. There's some highly technical
• 13:48
  stuff there, like even the water levels, the pH levels, you have
• 13:51
  to keep the pH levels of a certain, what's the word pH
• 13:55
  levels? A certain level that is pH is
• 13:58
  the acidity levels or the, or the base levels of the water.
• 14:01
  The pH is too high and The thing is acid.
• 14:03
  All the fish would die if the pH is too low on The thing is base.
• 14:07
  I have no idea what happens, but my guess is it's probably not
• 14:10
  good. So all these things, I have
• 14:11
  technical components. I always tell people, go online
• 14:14
  work, look for somebody who knows you think, go online work.
• 14:19
  Look for somebody who is a specialist, go online work.
• 14:22
  Look for somebody who is doing it on day-to-day, go online
• 14:25
  work, go and be an apprentice. Because subject matter expertise
• 14:29
  is the beginning of thriving in sales.
• 14:33
  Because if we don't have subject matter expertise, we're not
• 14:35
  going to be able to talk convincingly about the business,
• 14:39
  about the product and won't be able to convince anybody to buy
• 14:42
  a gang. That's the reason why me right
• 14:44
  now, if you ask me to go and sell catfish, I will flop
• 14:47
  because ask me one or two questions.
• 14:49
  I'll be saying I'm coming, I'm coming.
• 14:51
  Let me ask my wife, Let me ask my wife.
• 14:52
  In our mind I'll be thinking, look, is this your business or
• 14:55
  not? Which one is?
• 14:55
  Let me ask my wife, let me ask my wife.
• 14:59
  And nobody will be confident. They'll be thinking, look, this
• 15:01
  guy is a joker. He doesn't know anything.
• 15:05
  The way he's the catfish is probably 6 of If I go and buy
• 15:10
  500 heads of catfish from him, I'll be surprised if I buy
• 15:13
  today, tomorrow, 485 of them will just go and die.
• 15:18
  You know, I'll be able to talk convincingly about anything.
• 15:20
  So subject matter expertise really very, very important.
• 15:23
  So that's the reason why I tell people go online work mind this
• 15:26
  technical go online work. The person that called about
• 15:29
  construction metals and glasses and everything, he had started
• 15:33
  tutilage with someone, but he abandoned it halfway.
• 15:35
  And my advice, so simple guy, go online work, I can answer
• 15:40
  questions around market access and around stakeholder
• 15:44
  relations. Market access just means I'm
• 15:46
  trying to get in touch with customers while I'm trying to
• 15:48
  get connections. So I can move my product that is
• 15:50
  market access. And I can answer some questions
• 15:53
  around stakeholders, stakeholder relations, like this person is
• 15:57
  my mentee or this person is my beneficiary or this person
• 16:00
  invested in my business or something.
• 16:02
  And I want to move the relationship this way.
• 16:04
  I want to move the relationship that way I can answer some
• 16:06
  questions like that. Yeah, sure.
• 16:08
  But, you know, what is the best glass to sell?
• 16:11
  What is the best construction metals to sell?
• 16:13
  Like, I have no idea. I can't even remember the
• 16:16
  difference between metals and alloys.
• 16:18
  I mean, that was secondary school, so I can't help you
• 16:20
  there. So you're in construction.
• 16:22
  Go and land work. Another person called in on the
• 16:25
  show. Chocolate production and
• 16:27
  tempering chocolate, tempering milk, you know, all those sorts
• 16:29
  of things. Yeah, sure.
• 16:30
  I can answer questions about market access, finding
• 16:33
  customers, but concerning this technical thing, go and land
• 16:37
  work. So for those of you who even
• 16:41
  reach out to me in person, don't be surprised if I, you know,
• 16:44
  throw that phrase on you. You know, because at some point
• 16:48
  when we get beyond the sales and the marketing issues, my answer
• 16:52
  to you will be, you know, go online work first.
• 16:54
  When you learn the work and you know what's up, you know, you
• 16:56
  can come back and both of us can have a useful conversation about
• 16:59
  how to move things forward. Then let's see what else, OK?
• 17:03
  Patrick also wanted Anita to know that belonging to the Abuja
• 17:07
  Chamber of Commerce requires 2 referees and you have to pay
• 17:10
  some, some dues. I won't like the dues that you
• 17:12
  know you're expensive, small. I won't say how much because
• 17:15
  it's been a while since I've been a member of commerce.
• 17:18
  My brother and I were members of Lagos Chamber of Commerce back
• 17:21
  in our export days when we're in Lagos when we're exporting
• 17:24
  charcoal and sesame. So it's not as if it's expensive
• 17:31
  but it's not as if it's cheap. Let me just leave it like that.
• 17:33
  If you're interested, go and do some research.
• 17:35
  The Chamber of Commerce most likely in your part of your
• 17:38
  city, so Port Harcourt, Abuja, Lagos, Kano, you know, go and
• 17:42
  check. I'm sure there is.
• 17:44
  I don't know if there's Chamber of Commerce in Abakaliki, but
• 17:46
  you know, go and check. You never know.
• 17:49
  So he was saying you need 2 referees and you need to pay
• 17:51
  dues. And I told Patrick that.
• 17:53
  Yeah, correct. Correct.
• 17:54
  You're actually on point and thanks for bringing that out.
• 17:56
  I forgot to mention the requirements, but then I also
• 18:00
  wanted to stress one thing because I didn't want it to be
• 18:04
  as if while saying that because Chamber of Commerce you have to
• 18:07
  drop money, you know, small money and that's all small
• 18:10
  requirements that you have to meet that because of that you
• 18:12
  should run away from Chamber of Commerce.
• 18:14
  So I had to stress it on the show that, look, unfortunately,
• 18:18
  when we're talking business networking, unfortunately
• 18:20
  there's going to be cost, whether in terms of rally, in
• 18:23
  terms of money, in terms of paper or in terms of time, but
• 18:26
  there will be cost. The question now is whether the
• 18:30
  cost, the cost is going to be worth it, the money that I will
• 18:35
  drop or the time that I will drop, the time that I will
• 18:39
  invest. Is it going to get me good
• 18:43
  clients or is it going to get me good connections that could lead
• 18:47
  to better opportunities in the future?
• 18:49
  And so I wanted people to know that, look, that's the best way
• 18:52
  to look at it. That's how you should be looking
• 18:54
  at it. If you're looking at the naira
• 18:56
  on Cobo, you won't take any actions.
• 18:59
  I've told you guys on the podcast, I was a wedding
• 19:00
  photographer and to be honest, for the first like 5 years I
• 19:04
  didn't run a single Instagram ad, not even one because I was
• 19:09
  looking at the costs. There's no matter of this thing
• 19:12
  cost money. Therefore I will not do it.
• 19:14
  I mean at some point you have to drop something so that your
• 19:17
  business can grow. The conversation should have
• 19:20
  been OK. Instagram ads, how much do they
• 19:23
  cost other people using it to good effect.
• 19:26
  I should have gone to speak to other people.
• 19:28
  This Instagram ads that you're running.
• 19:30
  I don't know how they do himself.
• 19:31
  How you do run them. Ask one or two questions.
• 19:34
  Go and learn one or two things and then I should have tried
• 19:36
  with some small money. Back in those days, you could
• 19:39
  drop like 5K and then you advertise for a whole week.
• 19:43
  I know some of you shout now like 5K.
• 19:46
  Well, yeah, back then 5K we advertise for like a week, you
• 19:49
  know, get access to thousands of people.
• 19:51
  So with a budget of like 20 KA month, you actually could do
• 19:54
  something. That was back then, I don't know
• 19:55
  about now. So.
• 19:58
  So that's what I should have done instead of just saying I
• 20:00
  don't want to spend money. I don't want to spend money.
• 20:02
  And I said it. I went like five years.
• 20:06
  Actually. It's more than that.
• 20:07
  I don't want to say the truth so that you guys won't, you know,
• 20:09
  lose respect for me. But more than five years, I
• 20:13
  didn't run one, one single Instagram ad.
• 20:16
  I did not run one single paid promo.
• 20:19
  I did not do one single Google advert.
• 20:22
  I did not passing nothing. Too many of you are looking at
• 20:26
  the cost, it's benefits. I'll be, how do they say it
• 20:29
  again, risk, I'll be risk versus reward, benefit versus
• 20:33
  something, something I can't remember the expression.
• 20:36
  So that's the way to look at it. So I mentioned that there are
• 20:38
  other things apart from Chamber of Commerce, there's BNI
• 20:41
  international, that's business networking international.
• 20:43
  There's a fee that you pay and apart from that BNI we only meet
• 20:47
  7:00 AM to 8:00 AM for those who have kids, you know, OK, that's,
• 20:52
  that's problematic. You know, school runs and
• 20:54
  everything, especially if you're A1 car household like me.
• 20:57
  Then what else lands international, you know, all
• 21:00
  these other people. But anyway, Shah dues is
• 21:04
  involved and I mentioned that look, even if we say it's only
• 21:07
  secondary school association, because I went to CKC Christ
• 21:11
  King College regular day in Abuja.
• 21:12
  That was my first secondary school after that Saint
• 21:15
  Gregory's College Southwest Eco you shout out to all you Gregory
• 21:18
  hands listening to this podcast right now.
• 21:21
  So CKC and then Greg's even those associations, the due is
• 21:25
  not the due is not expensive. But even now on even there, we
• 21:30
  still have to pay dues. So any which way, even if you
• 21:33
  say you're going to do networking, FGC, Obama show, you
• 21:37
  will still pay dues. Doesn't matter.
• 21:39
  You will still pay dues then. OK, Patrick advised that I
• 21:44
  should focus on micro businesses and I told him yes, yes, yes,
• 21:48
  yes. It's good.
• 21:49
  It's nice to have a focus. But The thing is when I have a
• 21:51
  podcast like this and you know the radio show, sometimes I get
• 21:55
  questions from all corners of the business.
• 21:58
  Fair. So maybe in the future, but
• 22:02
  right now I enjoy tackling the challenges and answering the
• 22:06
  questions and showing how sales and business development
• 22:09
  principles apply no matter the sector that you belong in.
• 22:13
  Like for the radio stream in particular, somebody has called,
• 22:16
  the person has a tech startup, another person has called, the
• 22:19
  person is running an E library. He wants to monetize it.
• 22:22
  You already know that somebody has called fisheries, another
• 22:25
  person has called poultry, somebody has called real estate,
• 22:29
  another person has called construction.
• 22:31
  So, you know, on and on and on and on.
• 22:33
  So I try to tackle all these issues, you know, as many as
• 22:38
  possible. But right now I'm not going to
• 22:40
  say that if you're an ado go, don't call.
• 22:43
  If you're an ado, go, I might still be able to help you.
• 22:47
  Like, yeah, you're a certified big boy.
• 22:49
  You know, you're paid up. You're a certified big girl, you
• 22:51
  know, still call. I might be able to help.
• 22:53
  Let me listen, let me hear. Might be able to work out one or
• 22:57
  two things if you're a micro person, I definitely will take
• 23:01
  your call because I believe that, you know, money is not
• 23:03
  just the most important thing, you know, so micro people, I
• 23:07
  know that you guys can't pay anything.
• 23:08
  Like there's one guy who's talking about charging phones
• 23:11
  right now, buying generator, blah, blah, blah.
• 23:14
  I know to be honest, I know I'm not going to get anything from
• 23:16
  this guy, but you know, money is not the money is not the All in
• 23:19
  all. So I'm still answering the guys
• 23:22
  questions. Let's see how we can put
• 23:24
  together this and let me see how we can, you know, move this
• 23:27
  thing forward. You know, after all, like I had
• 23:30
  when I came into business, somebody that told me that, you
• 23:32
  know, everything is not money. You're trying to help some
• 23:34
  people. If God uses used to bless
• 23:35
  somebody is not bad. That's how God you use another
• 23:37
  person to bless you too. So I'm just trying to pay you
• 23:40
  forward. Some people said you look like a
• 23:42
  nice guy. No problem.
• 23:44
  Let's let's do one or two things.
• 23:46
  So you're trying to pay you forward and you two listening to
• 23:50
  the show when you arrive, you know, try and pay for to know
• 23:53
  everything is is money. There are times that, you know,
• 23:57
  you maximize value, as in you squeeze all the money you can
• 23:59
  get. If you can squeeze, you know, 5M
• 24:02
  or 10M from the situation, you know, squeeze it.
• 24:04
  But then once in a while you see somebody, you know that nothing,
• 24:07
  nothing not who will come from this thing.
• 24:08
  Let me just help this person. I'm not dropping money.
• 24:11
  All I'm just dropping is my time.
• 24:12
  Let me help the person. Answer one or two questions,
• 24:15
  make one or two introductions. So yeah, that's it.
• 24:20
  So I answer questions from everyone.
• 24:23
  Then there was, let's see, OK, Kingsley from Lube and he said
• 24:29
  his problem is funds. He wants to know all kinds of
• 24:31
  funds, all kinds of business finances available in Nigeria.
• 24:35
  And I told him that, look, it depends.
• 24:36
  Oh, that is very broad. It depends on the company,
• 24:39
  depends on nature of the business, size of the company,
• 24:41
  all those sorts of things. So I need more details.
• 24:44
  I told Kingsley to send me a WhatsApp message, you know he
• 24:47
  didn't send. So I'm going to make do a
• 24:51
  segment another week or two just exploring different kinds of
• 24:54
  finance that are available for different kinds of businesses.
• 24:57
  Then excuse me, he had another question on whether mortgage
• 25:03
  finance. Yeah, whether mortgage finance
• 25:05
  is available, whether you can use that as a form of business
• 25:07
  finance, whether you can take use mortgage to finance your
• 25:10
  business. Now, when he asked the question,
• 25:11
  I was kind of confused because even though the guy was saying
• 25:15
  mortgage, mortgage, in my mind I was thinking, does this guy mean
• 25:18
  microfinance? Microfinance, you know.
• 25:21
  Well, The thing is, I forgot to ask.
• 25:22
  I forgot to clarify because, you know, in my mind the guy was
• 25:25
  going to send me a WhatsApp message anyway, then I would
• 25:26
  have clarified. So even though he was saying
• 25:29
  mortgage finance, I honestly think he meant microfinance.
• 25:34
  But either way, I still answered the question.
• 25:36
  I said, look, mortgage bank, yeah, no problem.
• 25:40
  Whether you can use it as a form of business finance depends on
• 25:45
  the kind of business. So you can use mortgage banks
• 25:48
  for business finance only if your business is tied to landed
• 25:51
  property in any way. So you can go to a mortgage bank
• 25:55
  and get a commercial mortgage because you want to buy
• 25:58
  property, you want to buy office space, you want to buy a
• 26:00
  warehouse, you want to buy a retail location.
• 26:03
  If your business involves those kinds of things, then you can
• 26:08
  see that you can now get a commercial mortgage to finance
• 26:11
  the business. Then there's also equity loans
• 26:13
  or lines or credit. That is where you have a
• 26:17
  business. Your business already has landed
• 26:20
  property or buildings, and then you use the landed property or
• 26:24
  the buildings to get a loan and the bank will now use that
• 26:28
  building or that land as collateral.
• 26:31
  So that's another way you can get money for your business.
• 26:33
  Then there's also construction loans.
• 26:36
  Mortgage banks also offer construction loans to build
• 26:40
  commercial properties, but then also had to put it out there
• 26:42
  that if you're going to go this route, mortgage bank even
• 26:47
  microfinance banks off. That's where you don't start
• 26:49
  entering business plan financial projections, you know and all
• 26:53
  those things. So you definitely have to dot
• 26:56
  your IS and cross your T's as everything gets to be on point.
• 27:01
  Those of us who run our businesses from, you know, I
• 27:05
  told you about how my last accountant, I had a guy used to
• 27:08
  be frustrated that I will just carry all the receipt and give
• 27:10
  him say, well, here's the receipt.
• 27:13
  I'll print out bank statements and I say, OK, here's all my
• 27:15
  bank statements. And then any extra, extra thing
• 27:18
  that I have and I give him as, OK, here, here's all the
• 27:20
  information, go and sort it out. So for those of us who run our
• 27:23
  businesses that way, no, that's, that's not going to work.
• 27:27
  Everything's going to have to be tidy.
• 27:29
  Everything's going to have to be detailed because when you're
• 27:32
  looking for money from investors, equity investors or
• 27:38
  trying to get a loan from the bank, people are going to be
• 27:40
  asking you very, very exact questions.
• 27:42
  How much did you spend Q1? How much did you first quarter?
• 27:47
  How much did you spend? What is your, what is the cost
• 27:52
  of goods? What else?
• 27:55
  What is working capital that you need per week or per month or
• 27:58
  per whatever going to be very, very specific questions.
• 28:01
  So your house has to be in order if you're going to go down that
• 28:04
  route. So those were some of the
• 28:08
  questions that I tackled. What's the days of OK, today is
• 28:13
  Wednesday. How OK was it from Tuesday
• 28:15
  yesterday that I tackled all these things?
• 28:17
  Yeah. So these are some of the things
• 28:18
  that I tackled on the radio show yesterday.
• 28:20
  I forget. Let me just come and share some
• 28:23
  of them with you over here, because I figured that there's
• 28:26
  some stuff that we could learn, especially.
• 28:29
  Sorry. Let me scroll through my notes.
• 28:31
  Yeah, especially the part about introducing ourselves and
• 28:34
  talking about our business. Yeah, the first part.
• 28:36
  The first part, Wendy, because for those of us who have two or
• 28:41
  three hustles, we definitely find ourselves in those
• 28:44
  situations. So let me scroll through my
• 28:48
  notes. I think.
• 28:50
  Yeah, I think that's all. Pretty much.
• 28:51
  So that's all folks. Remember, if you have any sales
• 28:54
  or marketing questions, bring them to me.
• 28:56
  You can call, you can SMS, you can WhatsApp me on 08064662140.
• 29:04
  Thank you very much for your time and attention.
• 29:05
  I'll catch you, dear listener, at the next episode.