Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Stop Making Excuses and Start Making Money
Transcript
- 0:00There are some advanced techniques that can be used to
- 0:04grow your business, and a lot of them involve all the mental head
- 0:10trash, if I can put it that way. All those things about
- 0:13motivation, believing in yourself, alignment and all that
- 0:17stuff. I'm sure for those of you who've
- 0:19been listening to the podcast for a while, you've seen that I
- 0:21don't talk too highly about those things.
- 0:23And the reason why is not because they are.
- 0:26It's not as if these things are not important, they actually
- 0:28are. It's just that those are
- 0:30advanced techniques and lots of Nigerian people, you're not at
- 0:33that level yet. You actually are at the point
- 0:37where you don't know the next thing to do in your business.
- 0:40So instead of worrying about mental issues, spiritual
- 0:44alignment, and, you know, all these sorts of grand sounding
- 0:49things, you know, you're better paying attention to the more
- 0:54practical, the much more fundamental issues.
- 0:56You know, what do I need to do today?
- 0:57What do I need to do tomorrow? What do I need to do next week?
- 1:00What do I need to do next month to move your business forward?
- 1:04And these are some of the things I'm going to talk about today
- 1:07because I actually have come across an individual where
- 1:12perhaps, you know, in his own case, he actually is at that,
- 1:14you know, advanced stage, or rather he's going to need some
- 1:17of that advanced help to actually push him through.
- 1:22So what should we call him? OK, let's call him Solomon.
- 1:26Not his real name, so let's call him Solomon.
- 1:29But just in case you're listening, Solomon and you think
- 1:32like, OK, this sounds like you then.
- 1:33Yeah, it actually is you. So Solomon is based in Lakes and
- 1:39he's running a luxury car rental business, and he's doing it with
- 1:45a couple of tweaks. But because of that, Solomon is
- 1:49convinced that his business is unique.
- 1:53And because his business is unique, he has certain kinds of
- 1:56challenges that are new and have never been seen before.
- 2:00And these are the reasons why he's stuck in his business.
- 2:03Now. Of course, I told him the first
- 2:04time we spoke that, you know, guy, everybody thinks that
- 2:08business is unique, but it's not.
- 2:11Because no matter what business it is that you have, no matter
- 2:14what business it is that you have started, someone else
- 2:16thought of it before you. Someone else has probably
- 2:20started it, a few people somewhere already executing on
- 2:23it. You might be coming at it from a
- 2:25different angle, but there is no business that is new under the
- 2:28sun. Now there are some people that
- 2:32you start something and it's totally brand new, but this is
- 2:35the problem. You're going to show that this
- 2:38thing works. Other people are going to sniff
- 2:41that there's room for growth here, that there's room for
- 2:43profit here. And then people are going to
- 2:45pile in. People are going to rush in and
- 2:48before you know it, yes, in the beginning there was just you,
- 2:51but you're going to look up and you're going to see that you
- 2:53have tons of competition. But sure, let us stop tricking
- 2:58ourselves that we are in a unique business and that our
- 3:03challenges are unique. And my own situation is
- 3:09different than everybody else because the problem with this is
- 3:13when we start thinking this way, unfortunately, it forces us to
- 3:19think, or rather it allows us to think that we are justified in
- 3:23being stuck where we are. Because really, if this thing is
- 3:25brand new, we've never seen it before.
- 3:28Nobody has tackled these problems before, Then you kind
- 3:31of feel justified in staying where you're staying.
- 3:34The problem with this is Solomon, again, not his real
- 3:40name, the first time we spoke over a year ago.
- 3:44What is your story? The story is I'm doing the
- 3:47luxury car rental business. I'm doing this unique twist
- 3:51because of that, my situation is unique.
- 3:53OK, no problem. I talked to him over a year
- 3:58later because I still keep in touch with people every once in
- 4:00a while because we're listeners of the podcast and people who
- 4:03call in for free advice or even people who pay for my services.
- 4:06I still like to keep in touch with people.
- 4:07What's up? How you been?
- 4:09How's the business? I hope you're making progress.
- 4:11Nothing that was a comma before. Hope we've gotten past it.
- 4:14The thing that was a key leg before.
- 4:15I hope you're moving forward. Nothing that was an impediment
- 4:18before. I hope we've broken down and we
- 4:20move to the next level because anybody who passes my path, I
- 4:23want to be sure that you're making progress and that you're
- 4:25moving on. So over you over a year later
- 4:28and the guy is still saying my business is unique.
- 4:31My challenges are unique. So that's the reason why I'm
- 4:34making today's broadcast episode.
- 4:36Please. It doesn't matter who you are.
- 4:38It doesn't matter what it is that you do.
- 4:39Your business is not unique. This is light twist.
- 4:42Yes, it's a 5% twist or a 10% twist or whatever.
- 4:46By the end of the day, your business idea has already been
- 4:49done by somebody. If you take a step back and look
- 4:52at it from a holistic point of view, you will see that there
- 4:56are some fundamental things that you need to pay attention to
- 4:59that will help you move your business forward.
- 5:02You have fallen into this problem of navel gazing now.
- 5:05Navel gazing, it's a term that's back when I still used to play
- 5:09guitar when I was in Scotland because I liked Blues and
- 5:13improvisational jazz, you know, Blues, rock and things like
- 5:15that. So navel gazers, you know,
- 5:18you're just there. You just play your guitar.
- 5:19You play guitar, you know, it's just you.
- 5:21It's just you, you know, but you're not really interacting
- 5:25with the world out there. You're not really interacting
- 5:26with the audience, you know, so in guitar speak, it's kind of a
- 5:30negative thing because like you're doing what you want to do
- 5:32and you're not paying attention to whether the audience is
- 5:34following you or not, whether you're making progress or not.
- 5:37Now we can get into a certain kind of navel gazing and always
- 5:41me in business, you wake up today.
- 5:43Oh, my situation is unique. Oh, who is me?
- 5:46Oh the economy, Oh my unique challenges.
- 5:49Oh my, this, Oh my that, oh who is me?
- 5:51I'm suffering. And then you wake up tomorrow
- 5:54and it's the same thing and it's the same thing.
- 5:56And even though I said on this podcast, some of you think I'm
- 5:58joking, but I see this all the time.
- 6:01This is somebody over a year ago.
- 6:04My situation is unique. OK, no problem.
- 6:06Today, Hong Kong, my situation is unique.
- 6:08In between, what progress did you make?
- 6:10My situation is unique. This is how it happens.
- 6:15This is how it happens. So please, in case you are
- 6:20falling into this thing, just know that there's nobody whose
- 6:25business situation is unique. Whatever business challenges it
- 6:30is that you are facing, somebody has faced this challenge before.
- 6:34Somebody has overcome these challenges somehow.
- 6:38Ask around, talk to people, do some research, staying at home
- 6:43or in your office and saying that my business is unique and
- 6:46saying that always me. You will not make progress.
- 6:50You will not make progress. Anyway, before we continue, if
- 6:55you'd like to connect with me just like Solomon did, all you
- 6:58have to do is to call me, send me a text message or a WhatsApp
- 7:00message on 08064662140. And if you're interested, I run
- 7:0715 minute sale audits. In fact, I had one this morning.
- 7:11So you can WhatsApp me on the same number, 08064662140.
- 7:17And then if you want to join my WhatsApp channel, just send me a
- 7:20text message on the very same WhatsApp number and I'll get you
- 7:24hooked up so that you can see updates, previous episodes, or
- 7:28you know, if there's anything cool that I'm working on that
- 7:30you'd like to take advantage of. So back to Solomon.
- 7:36My business is unique. That attitude is not going to
- 7:41help you. Like I said, your business is
- 7:46not unique. But even if for the sake of
- 7:49argument, we see your business is unique, this is what you need
- 7:52to do in your unique situation. You need to pay attention to
- 7:56your deal flow because there's no way that a business is going
- 7:59to grow without deal flow because a business is a living
- 8:04Organism. But businesses don't need red
- 8:08blood cells. They don't need white blood
- 8:10cells. What businesses need is money.
- 8:12You have to be talking to people.
- 8:13You have to be making deals. Money needs to be coming into
- 8:16the account. Money always leads the account,
- 8:18whether we like it or not. You have to pay for fuel, you
- 8:20have to pay for Internet, you have to pay for food, you have
- 8:22to pay for this, you have to pay for that.
- 8:24So money will always be going out, but money, gas be coming
- 8:27into the system or as the business is going to die.
- 8:30So whether your situation is unique or not and Mr. Solomon or
- 8:34any other person in this situation, I insist your
- 8:38business is not unique. What you need to do is you need
- 8:41to be paying attention to deal flow.
- 8:43So you need to wake up every day and not focus on the fact that
- 8:46woe is me, my business is unique.
- 8:48You need to wake up every day and you need to start thinking
- 8:51where are my prospects? The prospect is somebody who
- 8:54might be interested in your product or service.
- 8:56Now at this level, at this stage, when you say who are my
- 8:58prospect now, guess what we did do all right, educated guess
- 9:03work. You just woke up and think, OK,
- 9:05where, who, you know, who might need my products, who might need
- 9:07my service. So for someone in his own case,
- 9:10Solomon's case, which is why I expected to see some progress.
- 9:14He's in the luxury car rental space, no problem.
- 9:16Some of the years that we talked about over a year ago,
- 9:19approaching brides, OK, that one has its own unique challenges,
- 9:22approaching people who are doing OMB, doing party, doing things
- 9:25like that. He's based in Lagos, by the way.
- 9:28You know, different customer segments and all, but The thing
- 9:32is when you're thinking about prospects at this stage, don't
- 9:34worry about whether your answer is right or wrong.
- 9:36This is the early stage. What we are doing is educated
- 9:39guesswork. Anybody under the sun who might
- 9:41be interested in your product or service, write that thing down.
- 9:45If there are specific people, write them name by name down.
- 9:49If you think oh Bio Ajala might be interested, write it down.
- 9:53Mustafa Adeju, write it down. Chukudi here, natural write it
- 9:59down. Washa need to come up with a
- 10:01list who might be interested in my product or my service.
- 10:06Now when we think on a very general level, who might be
- 10:11interested in my product or service?
- 10:12Brides in Lagos, people who do weekend or one day in Lagos, no
- 10:16problem. That's step one.
- 10:18The next thing we're trying to do now is we need to find a way
- 10:20of generating some contacts. A contact just means you now
- 10:23have specific details. You have a name, you have a
- 10:26phone number, you have an e-mail address, you have an office
- 10:28address, you have a house address, you have somewhere or
- 10:33something that you can use to initiate contact.
- 10:36Because it's not enough to be thinking about things in a
- 10:38general, general. If you're thinking in a general,
- 10:41OK, brides who live in Lagos, but then you never take it
- 10:44beyond that. Brides who live in Lagos but we
- 10:46don't have a way of getting contact details.
- 10:48You are stuck, which is why back when I was in the event space,
- 10:53you know, I started off in law. Now I'm a business consultant in
- 10:56between did export and did weddings.
- 11:00That's the reason why I love bridal shows because for bridal
- 11:02shows, the floor was full of Single Ladies that they have
- 11:06proposed to. You go and talk to them.
- 11:09You pull the people back to your, to your, to your, what's
- 11:15it called? I can't remember what is called,
- 11:16you know, your own part of the, your own part of the hall.
- 11:19You get them back to your booth, You get them back to your trade
- 11:21booth. You get some contact details.
- 11:23You know, we now have something that we can use to begin the
- 11:26selling process. I have people that have been
- 11:28proposed to and you know they're in love with the law of life and
- 11:32they're hoping to get married in the next 3456 months.
- 11:34I have some contacts. There's somebody I can chase.
- 11:38There is someone something that I can initiate with and engage
- 11:43contact and get this thing moving.
- 11:45So we start from first educated guesswork who might be
- 11:49interested in my product or my service right down the groups.
- 11:52After that, we need to come up with a plan.
- 11:53We need to get some contact details because we don't close
- 11:56sales in abstract. We close sales when we have
- 11:58contacts. Then after that, for the
- 12:01contacts that we have, we need to be able to narrow it down.
- 12:04Who are the leads here? A lead is someone who has done
- 12:07something over it or someone who has revealed something in
- 12:11conversation to show that they actually are interested in your
- 12:14product or your service. Doing something over just means,
- 12:21OK, how will I put it now? OK, So like for those of you in
- 12:23the online space, somebody downloads your, your PDF.
- 12:29And then because of that, you think, oh, this person is a
- 12:31lead. You know, they're not really a
- 12:32lead because people download sometimes because they're
- 12:35curious, not because they're necessarily interested in buying
- 12:38your, your, your product or your service, but at least the person
- 12:43has done something that you can see.
- 12:45OK, let me go back to the example that I, I give about the
- 12:48guy who was dropping Flyers outside my son's school.
- 12:50So he hands Flyers outside the school.
- 12:53Some parents take it. He's the guy that stores, he's
- 12:56one of those back to school stores, you know, shoes,
- 12:59textbooks, what else? Water bottles, you know, things
- 13:03like that. So somebody who collects the
- 13:05flyer and who calls him to say, oh, I saw you outside my son's
- 13:09school. I collected the flyer.
- 13:10That's the reason why I'm calling.
- 13:11OK, good. Now this person has done
- 13:13something over it to show that he or she might be interested.
- 13:19This person is a lead. OK, so first we got some contact
- 13:22details. Now we have some leads.
- 13:24Somebody has done something to show them might be interested,
- 13:27or you're having conversation with the person and the person
- 13:29has revealed that maybe they have a timeline, they have a
- 13:32project that they're working towards, You know something.
- 13:34Now we know that this person might be interested.
- 13:36So now we're dealing with the lead.
- 13:40So after we have leads, we're trying to put a few deals on the
- 13:42table. A deal on the table just means
- 13:44we have made a proposal to this person and this person is
- 13:47considering your proposal. Good.
- 13:48So now we have a couple of deals that we're pursuing or pursuing.
- 13:52Sorry. Then as we did pursue, now we
- 13:54close a couple of them. So back to what I said, is your
- 13:59business unique? No, there's no certain thing as
- 14:02a unique business because whatever it is that you're
- 14:04thinking of, I can assure you somebody else already working on
- 14:07that idea, which is the reason why Zuckerberg and the Winkle
- 14:11Balls twins, you know, they were arguing back and forth and then
- 14:13they shout and they went to court and everything because I
- 14:16heard you, you say you want to do social media, but that
- 14:18doesn't mean any other person. No, they do social media as in
- 14:21it just happens. Ideas just pop up like that as
- 14:24they pop for your head now, so they pop for another person's
- 14:27head. So your idea is not unique at
- 14:29all. But even if your idea is unique,
- 14:33nobody has faced your challenge. Oh, you are suffering.
- 14:36Oh, always me, always me, always me.
- 14:40If you don't break past this war is me thing, you're not going to
- 14:42make progress. Now, unfortunately, all those
- 14:47advanced techniques of when somebody stuck mentally, how do
- 14:50you get them moving forward, blah, blah, blah.
- 14:51You know, I'm not a mentalist, I'm not a psychologist, I'm not
- 14:54a so, you know, I don't know that advanced stuff.
- 14:57But honestly speaking, the only way you're going to make
- 14:59progress is if you focus on the fundamentals, the basic things,
- 15:03the tactics that you need to get moving forward.
- 15:06So if you like, stay there, your war with me.
- 15:09But the better thing you need to do is to wake up every single
- 15:11day and every single week and say, oh, yeah, what's the plan?
- 15:13Who are the prospects with MD? With MD, who might be interested
- 15:18after that? OK, these kind of people, these
- 15:20kind of people might be interested.
- 15:21Oh, yeah. How we will get contacts.
- 15:23Now, what's the plan? You talk to your team.
- 15:25What's the plan? Let's say we can get contacts.
- 15:26OK, good. We have some contacts, Good.
- 15:28Let's initiate contact. If it is office, let's go to the
- 15:31office or get them to come to our office or studio.
- 15:35If his phone number, let's call them or let's do stuff to make
- 15:39people call us. If his e-mail or let's e-mail
- 15:42them or try and do things to get people to e-mail us.
- 15:45Let's start talking to people from there.
- 15:47Let's get some leads. Some people have said something
- 15:49to show that they're interested, Good.
- 15:51Or fire, double down and then we'll put some deals on the
- 15:57table, put some proposals on the table.
- 15:59From there, we'll try and close a few things.
- 16:01So if you wake up with that mindset, eventually over time,
- 16:05in a year's time, you'll see that you have made progress.
- 16:07But if you want to sit down there and say my problem is
- 16:10unique, my situation is unique. Nobody has seen my challenge
- 16:14before. Very, very early I say on TV,
- 16:18one year will pass and you will still be in the same place.
- 16:23I'm not being wicked. That is just human life.
- 16:30That's just how it is. You don't realize how time is
- 16:33passing, but you just wake up and you see that two years have
- 16:39passed. You've not made any significant
- 16:41progress. You're still in the same place
- 16:44that you were two years ago. In fact, you're even in the war
- 16:46situation because we all know that one year ago the economy
- 16:49was not as harsh as it is now. You understand?
- 16:52So if you're stuck in the same place, but the economy is
- 16:55becoming harsher and harsher, can you see that you're not even
- 16:57in the same place? You're moving backwards.
- 17:00Hyperinflation. The value of money is going
- 17:03down, the cost of living is going up.
- 17:06The number of customers you had is still the same as you had a
- 17:09year ago. Or the lack of customers.
- 17:11Anyway, let me know what flog this thing.
- 17:14Look, all the principles that we talk about over here on the
- 17:16podcast. I understand that applying these
- 17:18things can be tricky. So if you need me to look at
- 17:20your particular circumstance, just call me, send me a text
- 17:23message or WhatsApp message on 08064662140.
- 17:29And like I said, 15 minute sale audits, business audits.
- 17:33If you just WhatsApp me on the same number, 08064662140, I'll
- 17:39be more than happy to chat with you and see how we can help you,
- 17:42you know, move forward, make progress.
- 17:44If you just want to be connected, connected to me but
- 17:47you don't want to talk to me for now, that's not a problem.
- 17:49You can join my WhatsApp channel.
- 17:51So just WhatsApp me on the same number and we'll be cool.
- 17:54But before I wrap up, I'd like to say shout out to my brother
- 17:59from Ebony. His name is Natachi.
- 18:02That's one of the coolest things about this podcast because I get
- 18:05to meet Nigerians from different walks of life and I have never
- 18:10heard that name before Natachi. And when I told him, he said
- 18:12yeah, that he gets that a lot. So like I said, my brother,
- 18:16welcome to the club. Those of us who have strange
- 18:18names. Well, because where I come from,
- 18:20my name, Tavi Schuma actually is very popular.
- 18:22But every week I meet somebody who says I've never heard that
- 18:26name before. So there a couple of us like
- 18:28that. So Natachi from Ebony but not
- 18:32based in Ebony when he based again.
- 18:33So did I write it down? Lagos here, based out of Lagos.
- 18:36Now his business is called My Food Bank.
- 18:40And what they do is they sell non perishable foods.
- 18:44It's a subscription service, soybeans, Gary rice, spaghetti,
- 18:47you know, stuff like that. By the way, I'm not advertising
- 18:50this guy's business. So I'm not advertising his
- 18:52business at all. I'm just giving him a shout out
- 18:56and I'm not asking that, you know, if you're listening, you
- 18:58know, let's go check out his business, you know, holler the
- 19:02guy, you know, give him some support, you know, because once
- 19:03in a while we all need encouragement as we're going
- 19:06through woes in our in our business.
- 19:09So we just had a good 15 minute chat, like I said, 15 minute
- 19:15sale audits, We did a business audit.
- 19:17I tried to figure out a couple of things only to figure out his
- 19:20conversion rates because it's really, really important to know
- 19:23how well you're doing in sales. And unfortunately we didn't have
- 19:27figures to delve into that conversation.
- 19:29So part of his assignment going forward is he needs to get
- 19:32enough figures so that we can track what his conversion rates
- 19:34are. Then we have some conversations
- 19:36on his margins because we need healthy margins so that our
- 19:41business can grow. Because for those of you who've
- 19:45been listening for a while, remember that I keep talking
- 19:47about unit economics. If the unit economics of your
- 19:50business are off, your business is going to fail.
- 19:53Now luckily for him, he plans his business causes food now is
- 19:58a matter of scale. So he doesn't need to make.
- 20:00Profits, you know plenty, plenty, you know on the Moodle
- 20:03of beans, on the Moodle of carry on the Moodle of rice.
- 20:05But the small profit that he's going to make, you know, the 100
- 20:08hundred naira to 200 naira is a matter of scale.
- 20:11You know if he has 1000 people or 50,000 people or 100,000
- 20:15people, you know that's where the money will come from.
- 20:17So to 200 naira profits multiplied by you know 50,000
- 20:22customers. So that's how businesses like
- 20:24that work. But whether you're in his own
- 20:28kind of business that involves volume, that involves scale or
- 20:33whether you are in in a business like let's say fashion where
- 20:38you're trying to recover good margins on one particular clot.
- 20:42But we need to make sure that our unit economics makes sense.
- 20:45How much do we use to produce this good?
- 20:50When we sell this good, how much are we going to sell it for so
- 20:53that when the money comes in, the money is enough for to pay
- 20:59salary, the money is enough to pay Internet, the money is
- 21:02enough for tax, the money is enough for this, money is enough
- 21:04for that. It's not as if one item will pay
- 21:06for the whole thing or I'm just saying on aggregate.
- 21:09So these are things that we need to work out when we go into
- 21:12business. So yeah, we had that
- 21:14conversation as well. Then, of course, like most
- 21:18businesses, you know, they have marketing campaigns and
- 21:20advertising campaigns that they want to do to jumpstart orders,
- 21:24especially since we're heading into the Easter week.
- 21:27So that's also another thing that he might have to, he might
- 21:30need to have a look at. So shout out to my brother from
- 21:35Ebony. Shout out to Natachi from my
- 21:38food bank. Thank you very much for
- 21:39listening to the podcast. Remember to share the podcast
- 21:41with other people who might find it interesting as well.
- 21:47And yeah, it was nice having a chat with you this morning.
- 21:52So that's it for today. And if you got value from
- 21:54today's episode and you'd love to connect with me, remember
- 21:58just call me on 08064662140. That is what Natachi did.
- 22:06You can send me a text message or WhatsApp message on the same
- 22:09number if you're interested in the 15 minute sale audit, just
- 22:12like we have with Natachi. It's no obligation.
- 22:15So don't worry, you're not dropping money.
- 22:16If you want us to delve in and start solving issues, then yes,
- 22:20you will drop money. Then call me, send me a text
- 22:23message or a WhatsApp message again, 08064662140 or you can
- 22:29join my WhatsApp channel, send me a message to the same number
- 22:33and I'll send you the details. So thank you very much for your
- 22:36time and attention. I'll catch you on the next
- 22:38episode. But the main reason who I'm in
- 22:41today's episode is because the teenage vex, my spirit honestly
- 22:44that I'm meeting too many of you who think your business is
- 22:47unique. And because of that, that's the
- 22:49reason why you're going to stay stuck.
- 22:51The challenge is very simple. Do you want to be right or do
- 22:53you want to make money? It's very, very simple.
- 22:56Do you want to be right or do you want to make money?
- 22:58You can stay there and insist that your business is unique.
- 23:00OK, you're correct. Good.
- 23:02We're not making money. You're not making progress.
- 23:04You're not getting sign ups, you're not getting customers,
- 23:06you're not getting revenue. But you are correct.
- 23:09OK, that's fine for you. No problem.
- 23:10Stay where you are. Do you want to be right or do
- 23:13you want to make revenue? If you want to get revenue, then
- 23:16the challenge is very simple. Wake up and ask yourself who are
- 23:19the prospects? OK, these are the prospects.
- 23:21Where will I get contact details?
- 23:23OK, I've gotten contact details. Let me initiate contact.
- 23:26Good, I've initiated contact. Who are the serious people?
- 23:29OK, these are the serious people.
- 23:30OK, those ones are leads. Both the pursue.
- 23:32These ones are serious people. Let's leave them by the side.
- 23:35Good for the serious people. No problem.
- 23:37We'll put some proposal, make some presentation or put some
- 23:40deals on the table and then fire, try and close the couple.
- 23:43And then you take feedback from the process.
- 23:46You learn, you reiterate and then you do it again.
- 23:48That is how you make progress from one year to another.
- 23:52Not by staying in your office under the cool AC and saying
- 23:57that my business is unique, my business is unique.
- 24:00Alright, so that's it. I'll catch you all some other
- 24:02time.