Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / The Abuja Business Guide: Competition, Credit, and Recycling.

Transcript

The Abuja Business Guide: Competition, Credit, and Recycling. · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:00
  Hello and welcome to today's episode.
• 0:04
  Today's episode is going to be a bit of a ramble and we're going
• 0:06
  to look at a couple of questions.
• 0:09
  Let's see how to deal with competition.
• 0:12
  Some stuff about the recycling industry in Abuja, Nigeria.
• 0:17
  Then let's see what else credit issuing credit for businesses,
• 0:23
  especially people who are involved in boutique businesses.
• 0:26
  Now, the reason why today's episode is a mishmash, it's a
• 0:29
  hodgepodge is because I was on the radio yesterday and some
• 0:34
  folks called in and even though I was trying to talk about
• 0:37
  networking for women this these questions, it seemed pretty
• 0:43
  good. So I went ahead and tackled it
• 0:45
  live on the air. So I'm coming over here on the
• 0:47
  podcast today just to let you know some of the good stuff that
• 0:52
  I was up to yesterday with the people who called in on the
• 0:57
  show. Now, this your first time
• 0:58
  listening to podcast? My name is Tavi Shima Ayede.
• 1:02
  I'm a former lawyer turned the business consultant.
• 1:04
  And what I do almost every day is I pick up the microphone and
• 1:10
  we solve business problems, especially problems that can be
• 1:13
  say that can be solved through a sales and marketing perspective.
• 1:19
  And that's more what we're going to do over here today.
• 1:22
  Now, if you'd love to connect with me just like these people
• 1:25
  did, you can call, send me a text message or a WhatsApp
• 1:28
  message on 08064662140. And oh, by the way, if you do
• 1:38
  reach out and you do connect and we agree on the time so that we
• 1:42
  can have a meeting where I can answer your one free question
• 1:46
  because Ioffer everybody one free question who who reaches
• 1:49
  out Then if we need to go in depth to solve any issues,
• 1:57
  please, I would just advise that you show up on time and let's
• 2:00
  try and see how we can make this thing happen.
• 2:04
  All right, so now back to the questions that I got last night.
• 2:09
  So OK, so the first caller was favor and then she gave me an
• 2:13
  update because she's the one who has been calling to the radio
• 2:17
  show for the last 2-3 weeks. She wanted to acquire machines
• 2:22
  for her fashion business, you know, the fashion people, you
• 2:25
  know, you need those fancy machines for ironing, for
• 2:28
  steaming, for sewing, for stoning, for embellishing, for,
• 2:33
  you know, all those sorts of stuff.
• 2:36
  And anyway, so she was the one that inspired that particular
• 2:42
  episode. If you remember when we talked
• 2:43
  about how to find how to finance, I can't remember the
• 2:50
  title, but anyway, if for those of you who need machines for
• 2:53
  your business, we did a few episodes where we spoke about
• 2:56
  how you can raise the cash that is required to buy the machines
• 3:00
  for your business. So was Favor who inspired that
• 3:02
  episode? So eventually she called back to
• 3:05
  say that she was going to bootstrap.
• 3:07
  She had created 5 pieces and she had stoned them and embellished
• 3:11
  them and made them look really nice.
• 3:13
  And if she was going to be able to sell the five items of
• 3:17
  clothing she would net, she was going to bring in close to
• 3:22
  1,000,000 1/2 or something like that.
• 3:24
  And then she was going to use the proceeds from that to
• 3:27
  acquire the machines. So Favour called again last
• 3:30
  night and she said she gave me some good news that she had
• 3:33
  already acquired one machine. And I was really, really happy
• 3:36
  to hear that. So I say it time and time again,
• 3:41
  I'm saying it again today. So please, dear listeners, take
• 3:44
  note. It's not just about listening,
• 3:46
  listening, listening. It's about taking action because
• 3:49
  so many people are listening to good content, they're subscribed
• 3:51
  to good podcast, they are listening to good mentors or
• 3:55
  good mentees or good consultants or whatever, but not a lot of
• 3:58
  people are taking action. So at the end of the day, the
• 4:00
  difference between the people who move are those who don't
• 4:03
  actually is people who take action.
• 4:05
  So she called one week, she's like, you know, what kind of
• 4:07
  ideas do we have? I measure on bootstrapping.
• 4:09
  She called the next week to say I'm going to do bootstrapping.
• 4:12
  I have created 5 pieces. And then she calls the next week
• 4:15
  to say I've sold a bunch and I've acquired one machine.
• 4:18
  And she said, God willing, I'm going to be able to buy the
• 4:20
  second one next week. And I won't be surprised if next
• 4:23
  week when I hop on the radio, she calls again to say, now I
• 4:26
  have all my machines in place. So that's how it works.
• 4:30
  Take action, take action, take action.
• 4:32
  So I was happy to hear from favor.
• 4:34
  Then next was a is in a isn't it called?
• 4:38
  OK, our question was about the Christian life.
• 4:40
  So I am not going to tackle that question here because well, you
• 4:46
  know, the radio station is a not-for-profit.
• 4:48
  So yeah, people call asking certain kinds of questions, you
• 4:52
  know I'll answer. But the podcasts were focused
• 4:55
  exclusively. So excuse me, sorry about that.
• 5:01
  So for the podcasts were focused exclusively on business.
• 5:04
  So I'm not going to answer that. Then next was David.
• 5:09
  Yeah, so David called and David's problem was that he is
• 5:13
  in a business that has lots of high competition.
• 5:19
  Yeah, he's in the business that has lots of competition because
• 5:22
  he's into phones and accessories.
• 5:25
  And I confirmed that he's in the Bannex area of Abuja.
• 5:28
  And so for those of you who are based in Abuja, you will know
• 5:30
  that Bannex man, it's a, it's a madhouse.
• 5:33
  So Bannex in Abuja is essentially the same as, you
• 5:35
  know, that Bannex tower in Lagos or think about Computer Village
• 5:40
  in Ikeja. Well, I haven't been to Computer
• 5:42
  Village in a while, but while I lived in Lagos anyway, Computer
• 5:45
  Village could be kind of rough and kind of kind of ruckus.
• 5:49
  So, you know, you have lots of people there, different
• 5:53
  buildings, everybody's selling essentially the same thing,
• 5:56
  touts running up and down. You know, Ibros, what do you
• 5:59
  want to do? You want fixed phone, You want
• 6:01
  fixed laptop? A brush should be an iPhone.
• 6:04
  I get, you know, and all that kind of behaviour.
• 6:07
  So I understood, I understood perfectly well what Mr. David
• 6:11
  was complaining about when he said was competition.
• 6:14
  But however, what Mr. David tried to do to deal with the
• 6:17
  competition was he decided he was going to diversify into
• 6:20
  affiliate sales and a couple of other things.
• 6:23
  And news flash, what do you think?
• 6:25
  And he met competition there as well.
• 6:28
  So excuse me. So Mr. David's situation was the
• 6:32
  first one that we tackled on the podcast.
• 6:34
  And that's the reason why I'm even making today's podcast
• 6:38
  episode. So forgive me if my thoughts are
• 6:40
  a little scattered because I didn't write anything down.
• 6:42
  I'm just looking at my notes from yesterday's session.
• 6:45
  So First off, I told Mr. David and anybody who is listening,
• 6:50
  especially those of you listening to the podcast right
• 6:52
  now, and you're complaining about competition.
• 6:55
  The fact of the matter is competition is a given.
• 7:00
  Competition is just a normal fact of life.
• 7:03
  We cannot get rid of it, especially with advances in
• 7:07
  technology. Access to information and access
• 7:10
  to resources sometimes have now been democratized.
• 7:13
  So there are going to be much more people playing in your
• 7:15
  space. So I told Mr. David that, yes,
• 7:18
  20 years ago, if somebody wanted to get into the phone business,
• 7:22
  OK, there was something stopping everybody.
• 7:25
  Not everybody had access to information.
• 7:27
  Not everybody knew where to go to in China to buy the phone
• 7:32
  direct or live. Not everybody could go online
• 7:37
  and do some online course and learn how to be phone
• 7:39
  technicians to repair phones or to repay repair a PlayStation 4
• 7:43
  and you know, stuff like that. But you know, it is what it is.
• 7:47
  You know, access to the Internet is now here.
• 7:49
  If somebody wants to get involved in the phone business,
• 7:52
  they don't even have to travel to China anymore to buy all this
• 7:54
  stuff direct like in the good old days.
• 7:56
  They can just sit down on Temu or Alibaba or whatever and order
• 8:00
  all their stock if they choose to run business that way.
• 8:04
  And and if some of you think it's not possible, I don't know
• 8:06
  if Niger people run business like that, but definitely the
• 8:09
  American kids who that's how they run their business.
• 8:12
  You stay over in America, you stay in Wisconsin or Washington
• 8:15
  or wherever you are, and then you do your thing.
• 8:18
  You order online and then a couple of weeks later your
• 8:21
  inventory comes to meet you at home.
• 8:23
  And then from there you sell. Excuse me.
• 8:26
  So I'm surprised if there are Nigerian people doing that
• 8:28
  similar model. But bottom line, what I'm trying
• 8:30
  to tell them, said David, is that competition is duly
• 8:33
  competition is certain, competition is a given.
• 8:36
  Competition will happen. It doesn't matter whether you
• 8:40
  are a lawyer, whether you sell mobile phones and accessories,
• 8:44
  excuse me, whether you're a consultant, whether you are in
• 8:47
  the fashion space, whether you do recycling, whether you do, no
• 8:53
  matter what it is that you do. You run a baby crash, you run a
• 8:57
  secondary school, you sell ceiling fans, you're an
• 9:00
  architect, you're a brain surgeon, you're a cardiologist.
• 9:03
  It doesn't matter. Whatever it is you do, there
• 9:06
  will be competition. In fact, there's some people who
• 9:10
  say competition is a good thing, that if you want to step into a
• 9:14
  business and you see competition, then it means that
• 9:16
  the business is viable. That's why people do, you know,
• 9:20
  people are raw farm because it's worth it.
• 9:23
  But if you want to go into a, a new space and is a see if you
• 9:28
  know, The thing is cricket, like there's nobody there.
• 9:31
  They're on. It means that there's no money
• 9:32
  there. That's why people are not
• 9:34
  rushing it yet. So I'm not saying I subscribed
• 9:37
  to that school, but I'm just trying to say that there are
• 9:40
  some people who say that competition is, is, is a good
• 9:43
  thing. So there's this guy, he has his
• 9:46
  podcast. What's the guy's name again?
• 9:50
  The sweaty startup. Nick Cuber.
• 9:52
  Yeah. I think he's Nick Cuber.
• 9:54
  So he runs storage space companies.
• 9:56
  And so for Nick Cuber, you know, this is his thing.
• 9:58
  Nick Cuber says so. Excuse me.
• 10:04
  So excuse me. I had a busy day yesterday, you
• 10:06
  know, coaching calls and you know all that.
• 10:08
  Then being on the radio again. So my voice is a bit tired
• 10:11
  today. Yeah.
• 10:13
  That reminds me. The.
• 10:14
  The TV show is tomorrow. That's for those of you who
• 10:16
  listened. I'm all looking forward to
• 10:18
  seeing me on TV. So it's tomorrow again.
• 10:21
  DSTV channel 365 12. I can't remember if it's 11:30
• 10:27
  or 12 noon, but then I'll confirm and let you guys know.
• 10:31
  So yeah, so Nick Cuba, sweaty startup American guy.
• 10:36
  So this is thing. So he started with storage space
• 10:40
  businesses and then later on moved to real estate.
• 10:43
  So this is what Nick Cuba says. This is his own point of view.
• 10:46
  His own point of view is when you're ready to enter into
• 10:49
  business, you should shine your eye and look for places where
• 10:51
  there's competition. Because the people who are in
• 10:55
  those businesses ordinarily speaking in lots of time, you
• 10:58
  know, they're not too sharp, you understand, like they're not too
• 11:02
  sharp. And, you know, they don't really
• 11:04
  apply. They're not really focused.
• 11:07
  So those of us will be saying like we have any modicum of
• 11:11
  intelligence by the time we come in and look into this place that
• 11:15
  has high competition by the time we survey and we apply.
• 11:20
  So we're executing every day, right by the very fact that
• 11:25
  we're operating better than everybody who will thrive and
• 11:27
  will survive. Do you understand, You get,
• 11:33
  maybe some of you don't get, let me repeat, let's say there's
• 11:36
  plenty of competition in the business.
• 11:38
  Most of the people who are going to be in that business are not
• 11:40
  terribly smart and a lot of them are going to be lazy.
• 11:44
  So the fact that you enter into the space and you're hard
• 11:46
  working and you're smart, it will make a difference.
• 11:48
  So let's use a favor fashion design that tailors all over
• 11:54
  Abuja, that tailors all over on Nisha, that tailors all over in
• 11:57
  Lagos Abbey and people who want to be stylist.
• 12:01
  So the rationale for the Cuba is that a lot of the people in the
• 12:05
  fashion space are going to be lazy.
• 12:08
  They won't show up to work every day, they won't deliver to
• 12:11
  customers on time. When they deliver, there will be
• 12:14
  mistakes, they will have a poor process for following up with
• 12:18
  customers, for matching orders, you know, things like that.
• 12:20
  So there'll be plenty of problems.
• 12:22
  So if you come in and you say you're going to be disciplined
• 12:24
  and then you use small common sense, you'll be able to be much
• 12:27
  more successful than other people.
• 12:29
  So if you come into the fashion space, then you implement a CRM
• 12:34
  that's a customer relationship management tool.
• 12:37
  The CRM keeps you focused, it keeps you on point, you're able
• 12:40
  to deliver on time. It also allows you to be able to
• 12:43
  follow up with people and build relationships effectively.
• 12:48
  So by doing that over time you will begin to stand out and you
• 12:53
  will begin to get a better reputation and start getting
• 12:57
  more business and be able to raise your price ahead of the
• 13:00
  competition. Just because you have come into
• 13:02
  a place where there's high competition and you know that
• 13:05
  most people will be lazy. So you decide I will not be
• 13:08
  lazy. I'll work hard.
• 13:11
  Then you also bring some intelligence into it because of
• 13:16
  course the Cuba is assuming that you know is you know, those of
• 13:19
  us boys and girls, we we know books small.
• 13:22
  So that intelligence plus the hard work we go make them.
• 13:25
  So there are people who actually when they're coming in, they
• 13:28
  just look where's their competition?
• 13:31
  So Nick Huber, the sweaty startup, listen to his broadcast
• 13:34
  by the way, him looking into real estate.
• 13:36
  It was not a matter of, you know, real estate is gang gang
• 13:40
  or real estate is the thing like that was a matter of what are
• 13:44
  people already doing? Let me go and shook my hand
• 13:48
  there because I'm a hard worker and because I know book because
• 13:52
  I'm smart, All I have to do is just change one or two things
• 13:54
  over time. Eventually I will not just
• 13:57
  survive, I will thrive. So competition is a given and
• 14:01
  competition is not necessarily a bad thing.
• 14:04
  In fact, there are some people multi millionaires because the
• 14:07
  Cuba is a big boy. It's a big boy.
• 14:11
  People who are multi millionaires, you know, just by
• 14:14
  looking around like where is the competition?
• 14:16
  No problem. Let me go and die there.
• 14:19
  I must, you know, let me go dominate.
• 14:21
  So there's some people who do that.
• 14:24
  So since competition is a given, since you can't run to another
• 14:29
  industry because there's no industry that you run to where
• 14:32
  there is no competition, none. If you think there's an industry
• 14:35
  that doesn't have competition, please send me a message.
• 14:37
  08064662140. I'd like to investigate that
• 14:42
  industry. You know, just do some small
• 14:45
  research. But I can assure you truly,
• 14:46
  truly, there's no competition. But that business is profitable.
• 14:49
  Forget it. People will discover, before you
• 14:52
  know it, they will flood that place.
• 14:55
  Basha, I'll be curious. I want to know what kind of
• 14:58
  businesses do not have competition.
• 15:03
  All right, So what I told Mr. David was, since competition is
• 15:07
  a given then the challenge now is we should learn how to
• 15:10
  distinguish ourselves from the competition.
• 15:12
  That's the only thing that we should, that should be our prime
• 15:14
  focus because when we learn how to distinguish ourselves from
• 15:19
  the competition where you are now, if you try another business
• 15:25
  sector or another industry tomorrow, you would have learned
• 15:28
  some skills that you can transfer that will help you to
• 15:32
  set yourself apart from the competition there.
• 15:34
  So remember, he started off in phones and accessories.
• 15:38
  He said competition one kilam. So he decided to move out to
• 15:41
  affiliate marketing only to find that competition one kilam.
• 15:45
  But this is the thing, if you learn how to distinguish
• 15:48
  yourself while you are selling phones and accessories, computer
• 15:52
  accessories, when you move over into affiliate, you will also
• 15:57
  know how to distinguish yourself because you don't learn one or
• 16:01
  two things in your previous place of business that you now
• 16:06
  carry over now. So let's learn how to
• 16:07
  distinguish ourselves Now, since this is a sales podcast,
• 16:12
  unsurprisingly, I told him that, look, the first way that we
• 16:16
  differentiate ourselves, all right, is by our sales process
• 16:20
  and by you, the salesperson. You're the salesperson, you're
• 16:23
  the business owner, you are the differentiator.
• 16:26
  This is what I tell a lot of my clients because let's face it,
• 16:28
  when in sales last, last, at the end of the day, everybody's
• 16:31
  selling the same thing. Let's be real here.
• 16:34
  So he's in the phones and in the accessory space, the iPhone 17
• 16:39
  Pro Max that he's selling. Materially speaking, is there
• 16:43
  any difference between his own iPhone 17 Pro Max and the next
• 16:48
  shop or two shops down or three shops down?
• 16:53
  Is there any material difference between or what they're selling?
• 16:56
  They're all selling exactly the same thing, some of you say, and
• 17:01
  as we call physical products. Oh, really?
• 17:03
  You say, oh, I'm a, I'm a consultant.
• 17:05
  They say, oh, really? OK, good.
• 17:07
  As a consultant, what am I selling?
• 17:11
  Am I not selling access to greater revenues, you know, do
• 17:15
  business with me, you make more money.
• 17:17
  Or am I not selling time, for instance, you know, deal with
• 17:22
  me, you get your time back. Or am I not selling
• 17:27
  transformation, you know, deal with me.
• 17:29
  This is how your life personally will be transformed or this is
• 17:31
  how your business personally will be transformed.
• 17:33
  OK, no problem. Which other consultant is not
• 17:36
  selling exactly the same thing? Are we not all selling the same
• 17:39
  thing? We are.
• 17:42
  So the distinguishing factor now in the modern era is not what
• 17:47
  you sell. The distinguishing factor is who
• 17:50
  is the person that is selling it.
• 17:53
  Because for service based businesses like me, in the
• 17:55
  consulting space, people are buying into you.
• 17:59
  Even self in the physical commodity space like phones or
• 18:03
  accessories, when people come to your shop, people are buying you
• 18:07
  if you're a correct guy. Because let's face it, now these
• 18:10
  things are expensive. iPhone 17 Pro Max, Somebody told me it's
• 18:13
  like 5 M like 5 million. I don't know how true it is
• 18:15
  because I'm not really a phone guy, but that's what I was told.
• 18:18
  So let's just say you think people have 5 million to just be
• 18:21
  dropping anyhow. You think so when somebody finds
• 18:28
  a phone plug like oh, this phone guy is a decent fellow.
• 18:32
  This phone guy is a correct guy. The guy there responsive.
• 18:35
  If there's any issue, the guy will answer me one time.
• 18:37
  Any problem the guy will help me solve it.
• 18:41
  Once you've found a decent phone plug, you think the person when
• 18:44
  they're ready to buy another phone, the next phone costs you
• 18:46
  know 7 million. You think they're going to start
• 18:48
  looking for somebody afresh or they'll go back to the guy that
• 18:51
  they already know the same Mr. David, what's up ID now I bet
• 18:55
  you get iPhone, you know 27 Pro Max.
• 19:00
  You are the distinguishing factor.
• 19:02
  Hear me out and listen clear please.
• 19:07
  Today you are the distinguishing factor.
• 19:10
  It is not your, it's not the product, it's not the service.
• 19:13
  Stop looking for differentiators in the product or in the
• 19:16
  service. You are the distinguishing
• 19:19
  factor. Nowadays, people are buying you
• 19:21
  primarily if you're a service based business, you're an
• 19:24
  architect or you're a brain surgeon or you're whatever,
• 19:28
  people are buying you. If you sell cars or you sell
• 19:32
  phones or you sell ceiling fans, people are buying you.
• 19:39
  So my rice David was you didn't fix up your sales process
• 19:43
  because he didn't have to tell me.
• 19:45
  I know that he doesn't have a sales process that is just
• 19:47
  giving. In fact, 99.999999999999998 of
• 19:53
  you listening to this podcast now on an old guest sales
• 19:55
  process that is just basic. It's a giving.
• 19:58
  If you'd like to have a conversation, you'll see what
• 20:00
  that entails, how you can come up with your own sales process.
• 20:03
  That's not a problem. Call me send me a text message
• 20:05
  or a WhatsApp message on 08064. 662140 Don't worry if I sound
• 20:11
  expensive, I'm reasonably priced and I answer one question for
• 20:15
  free, so that's not a problem. Just hit me up, let's have a
• 20:18
  chat. You'll be fine.
• 20:21
  Oh, by the way, the conversation I'm going to have with you guys,
• 20:25
  I prefer to have the conversation in Telegram.
• 20:27
  The reason why is because I want the session to be recorded.
• 20:30
  The reason why I want the session to be recorded is
• 20:32
  because I want you to leave there with the recording so you
• 20:35
  can listen back to it later on because we're going to discuss a
• 20:38
  couple of ideas. You know, when we have the
• 20:40
  conversations. I'm not going to create any
• 20:42
  notes because I mean, come on, it's a free session.
• 20:44
  I'm ready, giving you my time. I'm not going to sit down and
• 20:46
  create notes. So at least you will have the
• 20:49
  audio recording that you can listen back to later on.
• 20:52
  That's the reason why I do it in Telegram.
• 20:54
  So if you want to reach out, I beg download Telegram before you
• 20:58
  hit me up. Then I will fix the time where
• 21:01
  we'll have our session. The audio is yours.
• 21:04
  I will not play the audio anywhere.
• 21:06
  I will not share the audio with anybody.
• 21:08
  That's the reason why you have not heard any of those audio
• 21:12
  sessions on the podcast. The best I'll do is I'll come
• 21:15
  back and say I had a conversation with and these are
• 21:18
  the things we spoke about, but I will not play the audio right.
• 21:23
  So any personal issues that we talk about there and stuff like
• 21:26
  that will be kept in confidence. And that's why I'm not going to
• 21:29
  use the audio. Matter of fact, once I have
• 21:32
  confirmed that you have downloaded the audio, I will
• 21:35
  delete the group in typically another, you know, 2-3 days.
• 21:39
  But once it's done, it's done. So when you download the audio,
• 21:42
  keep it. That is sort of like your own
• 21:45
  personalized private podcast. All right, so where was I?
• 21:52
  So I know that Mister David does not have a selling framework.
• 21:56
  So I said, look, you need to come up with the selling
• 21:57
  framework now because it's Banix and you know, the, the, the, the
• 22:02
  play is high traffic, high for traffic.
• 22:04
  Everybody knows that. Look, it's Abuja.
• 22:06
  If you're looking for the iPhone 16, if you're looking for the
• 22:09
  Samsung V Fold, you're looking for the techno blah, blah, blah.
• 22:12
  You want to buy a PlayStation Five, you know, whatever,
• 22:15
  Everybody just knows, OK, you go to Banix, just like in Lagos,
• 22:19
  you know, you're looking for Samsung Triple Fold, you're
• 22:22
  looking for PS-7, looking for whatever it is.
• 22:27
  Everybody just goes to Computer Village.
• 22:31
  So high traffic. Now since high traffic is
• 22:34
  already there, I won't talk about lead generation.
• 22:38
  Lead generation does means how you find people who might be
• 22:41
  interested in your product or service and how you get their
• 22:43
  contact details. So I didn't even talk the lead
• 22:45
  generation route with Mr. David. So as I'm said, David, now the
• 22:48
  next thing is this high traffic, good.
• 22:51
  People are walking through your store.
• 22:52
  Good. Now you need to come up with a
• 22:54
  framework. You need to come up with a
• 22:56
  process, You need to come up with a strategy.
• 22:58
  We need to write this thing down so that you can train your boys
• 23:01
  on this thing later on. Because it will be terrible if
• 23:05
  you come up with this thing. But this thing exists only in
• 23:07
  your own head so that when customers come into the shop and
• 23:10
  they meet you directly, they have a wonderful experience.
• 23:15
  But then the day you go out and leave your boy in charge and
• 23:18
  then they come and they meet your boy or to meet your sales
• 23:20
  girl, then they now have a terrible sales experience.
• 23:25
  So we guys write this thing down somewhere on the sheet of paper
• 23:29
  in the Google Doc document on a post it note on.
• 23:32
  We have to write it down so that by the time you get a ball in
• 23:34
  your shop or you get a sales girl in your shop, you can sit
• 23:37
  down, down and say what this is the process, this is how it
• 23:41
  works. And then you train them so that
• 23:44
  when you're in the shop and somebody comes wonderful sales
• 23:47
  experience. If you have to travel to the
• 23:50
  East, you know, for meeting or you know something and your
• 23:53
  sales boys in the shop or your sales girl is in the shop,
• 23:56
  anybody that comes wonderful sales experience.
• 23:59
  So this framework has to be written down somewhere.
• 24:02
  It cannot, I repeat, it cannot exist in your brain only
• 24:07
  everything exists in your brain. Only you are wrong.
• 24:10
  You cannot train somebody or something that only exists in
• 24:13
  your brain. You can't.
• 24:15
  So write it down. So for Mr. David, I said now we
• 24:20
  need to come with the process. When somebody come into the
• 24:23
  store, how will you greet them? How you greet them?
• 24:28
  It's important, right, How you greet them.
• 24:34
  How do you like your customers to be greeted?
• 24:37
  Some of you are wondering down to that level, yes, down to that
• 24:41
  level. Have you entered some shops
• 24:42
  where you enter and then the sales girl is just changing come
• 24:46
  and then she's playing a Candy Crush on her phone.
• 24:50
  She'll just look at you and then look down.
• 24:52
  Continue to chew Ching Gong. You've not seen that kind of
• 24:56
  shop before. There are plenty.
• 24:59
  So even something as when my customer calls me to the shop,
• 25:04
  give me this is how we greet them.
• 25:06
  Even a conversation. I need to have it.
• 25:09
  Is it a browse out now? Is it?
• 25:13
  Good morning Sir. Is it Yes.
• 25:17
  How can I help you? Is it sure you need to have that
• 25:20
  conversation. How are we going to greet people
• 25:22
  when they come into the shop or when somebody ping on Instagram
• 25:27
  DM, When they ping in WhatsApp DM, how are we going to greet
• 25:30
  them? How are we going to acknowledge
• 25:31
  them? You have that conversation, then
• 25:34
  the next step need analysis. You need to be able to figure
• 25:36
  out why this person is here. So I told Mr. David and other
• 25:41
  people who are listening, whenever somebody comes in front
• 25:43
  of you, the person is coming in front of you not because they
• 25:46
  don't have where they are going. It's because they either have a
• 25:49
  problem or they have a vision. I think I've spoken about this
• 25:52
  recently. Anybody that enters your shop
• 25:54
  has a problem or a vision. The goal is to try and figure
• 25:59
  out which it is. OK, now the David, OK, Mr.
• 26:08
  David, phones and accessories. OK, cool.
• 26:10
  And I pose one question and I'm sure all of you will notice this
• 26:13
  thing. Have you noticed that when a
• 26:16
  young lady walks into a store and she says do you have iPhone
• 26:19
  17? If you notice the lady already
• 26:23
  happens to be holding an iPhone something.
• 26:28
  If that is the case that most of the times when a young lady
• 26:32
  enters into your shop, she says do you have iPhone 17 Pro Max?
• 26:36
  She already has an iPhone. Does it not stand to reason that
• 26:40
  either she has a problem, the current iPhone wouldn't work
• 26:42
  again, or she has a vision like she's a big babe and she's
• 26:46
  supposed don't upgrade so this iPhone 16 is no longer suitable
• 26:51
  for her. So now you need to find out how
• 26:54
  to engage in conversations with this young lady who has walked
• 26:56
  into the shop to figure out what is it exactly?
• 27:00
  Is there a problem? I've been a vision so that if it
• 27:03
  is a vision, we can find out how to move her along.
• 27:06
  Because there's some people who say iPhone Pro Max 17, by the
• 27:10
  time you call 5 million, they'll say 5 million.
• 27:14
  As it is like that. You say, yes, sister, she's OK,
• 27:17
  thank you that she will start going.
• 27:19
  You now don't know what to say. The reason why you don't know
• 27:22
  what to say next, because if you say sister relax now where you
• 27:27
  do go, come back, come back, come back, come back, yeah, no
• 27:29
  problem. You know, even though we say now
• 27:32
  5 million because now you bring 5.7, you see already eroding
• 27:38
  your, your, your, your margins, giving up discounts.
• 27:43
  The reason why you don't know any which other way to carry
• 27:45
  this conversation is because you do not engage with her.
• 27:48
  You don't know whether and a problem have been a vision.
• 27:51
  If it's a matter of vision, you now know how you can finish
• 27:55
  situation to say that you know what yes, the iPhone 17 Pro Max
• 28:00
  now 5 M, but you know you also get some kind phones way for
• 28:05
  beams of your stature. You know still they represent
• 28:09
  well that kind of thing. The babe can say like which one.
• 28:15
  You now say no problem. You now go and show her Samsung
• 28:17
  V4. I say Samsung V fold.
• 28:21
  That one is 3.5. You will start talking if you do
• 28:27
  a good job talking more I mean you never know from there you
• 28:30
  might be able to slide into techno because I think techno is
• 28:33
  one that has the is it the triple fold instead of opening
• 28:36
  up like V, you open like WIB. Is it like I know like letter N
• 28:42
  uh huh, the triple fold yes, you have options because you know
• 28:47
  that this person that came in front of me now vision where she
• 28:50
  the poor shoe You will have options.
• 28:54
  Now, let's say it's a matter of problem and the problem is she
• 28:56
  has iPhone 16 the iPhone 16. Maybe the screen is cracked.
• 29:00
  The screen is not working. So you know it's a matter of
• 29:02
  problem. So she was just thinking, OK,
• 29:04
  maybe let her just ask. Maybe it's doable.
• 29:09
  She can move from 16 to 17, but since it's a matter of problem,
• 29:13
  you'll be able to discuss other options.
• 29:15
  OK, Oh, you know what we do trade insurance.
• 29:18
  If you bring this 16, even though the screen is cracked,
• 29:22
  we'll be able to take so, so so and so off blah blah blah.
• 29:24
  And now you have a new phone or OK, trading in and or not down
• 29:29
  or pass your power. No problem.
• 29:31
  We do screen repairs at so, so, so and so, but you will not know
• 29:37
  how to continue the conversation and you will not know what
• 29:40
  options to pursue unless if you engage with somebody who comes
• 29:44
  into the shop. So before people start walking
• 29:48
  into your store, you figure out how are we going to engage
• 29:52
  people in the conversation so that if no problem, we'll figure
• 29:56
  it out. If no vision, then a Porsche,
• 29:58
  we'll figure it out. That is what we give us options
• 30:01
  so that we'll not be in those silly situations where I don't
• 30:04
  know about you, but when I'm in that situation, I feel like an
• 30:07
  idiot. When somebody comes in, I say,
• 30:08
  Anna, 5 million. Then as I walk in and I say,
• 30:11
  Bros, relax now, like where are you going?
• 30:14
  You live here, relax now you know what is is 5 million.
• 30:19
  But if I call my old guy, we can give you at, we can give you at
• 30:23
  4.8. Am I the only person who feels
• 30:27
  like an idiot when I'm stuck in that situation?
• 30:30
  I'm sure I'm not. The only way we avoid those
• 30:33
  situations is when we have a proper framework and we know how
• 30:35
  to be able to assess and figure out who are we dealing with.
• 30:39
  Now, here's some side effects that you guys haven't thought
• 30:43
  about. When you engage with somebody on
• 30:46
  that kind of level, you know that we're in Nigeria, right,
• 30:49
  where most people are just peddlers.
• 30:51
  So if you go to Barnex, most of the people you meet there,
• 30:53
  they're just peddlers, you know, peddlers, hawkers.
• 30:55
  Now, like when you're in traffic by groundnuts, by groundnuts,
• 30:59
  you know, it's just this is the groundnut.
• 31:03
  It's 2/5 per bottle. You start pricing oil, you know,
• 31:06
  give me one eight, you know, blah, blah, blah.
• 31:08
  You know, you take it for two, one that is peddling.
• 31:11
  So most of the people in Bannix, most of the people in computer
• 31:14
  village, most of the people in, you know, all these areas, even
• 31:16
  computer village in sorry, GSM village in Abuja, like I think
• 31:22
  it's area 1 or so I'll be, I'll be area 3 anyway.
• 31:26
  Most of the people, they are peddlers.
• 31:28
  Now, if you have a process, I actually engage people in these
• 31:32
  kind of conversations. Have you noticed that you are
• 31:35
  already standing apart as a professional?
• 31:39
  Other people are peddlers. You're professional.
• 31:43
  The babe who's in the shop, the customer, potential customer,
• 31:46
  she might not know how to put a finger on it, but already you
• 31:49
  sound different because the babe has gone to three shops.
• 31:55
  Excuse me, this is Nigel. So let's be real.
• 31:59
  Before she came to your shop, she has already gone to two
• 32:02
  shops or three. After she leaves your shop, she
• 32:06
  will go to another two or three shops.
• 32:09
  Don't you want to be the guy that she remembers as there's
• 32:14
  something about that guy she cannot say with her mouth.
• 32:18
  Like I'm saying it because me, I'm saying you're being
• 32:20
  consultative, you're being a professional, you're standing
• 32:23
  out and you're offering a superior customer experience.
• 32:28
  I can put it in those words. The customer can't put in those
• 32:31
  words. They just know that that person
• 32:33
  I saw in shop B3, I kind of like that guy or my spirit is calling
• 32:40
  me back to that. Those are the kind of things
• 32:42
  that do say my spirit is leading me here.
• 32:45
  Yeah, I've heard people say that.
• 32:47
  So, yeah. So I went to other places, but
• 32:50
  something about my spirit kept bringing me back to your shop.
• 32:53
  Yes, they say it is my spirit because they don't know how to
• 32:55
  quantify it. No, be spirit, nothing spiritual
• 32:57
  right here. It's a very scientific
• 32:59
  something. It's because the person has a
• 33:03
  well thought out process that the person is using to
• 33:05
  distinguish themselves. So when you work on that, you
• 33:12
  can see how your sales process in itself sets you apart from
• 33:16
  the competition and give somebody a reason to remember
• 33:21
  you the next time it it's time to, you know, it's time to go
• 33:26
  ahead because meantime I've been in a situation where I need
• 33:29
  something to be repaired. I need something to be replaced.
• 33:32
  But the guy's phone number, I honestly cannot remember what I
• 33:35
  stored it as. So I will make time and I'll go
• 33:39
  to by next and I'll go to the exact shop.
• 33:41
  And if I don't see the guy, I'll leave a message and say they
• 33:44
  tell the guy that he should call me when he enters the shop.
• 33:47
  That level of trust because you know, now you know how these
• 33:53
  boys can be, you go and drop your phone with somebody and
• 33:58
  then before you know, they remove some parts and you know,
• 34:01
  your phone, you know, they fix the screen, but now volume
• 34:04
  control is not working, you know, or you drop your computer,
• 34:07
  they fix it, but you're not worried.
• 34:08
  How do they have access to my data?
• 34:10
  You know, and all these kind of issues.
• 34:12
  I remember when I was a bit younger in Lagos, this Nollywood
• 34:15
  actress that had some, you know, unfortunately she had some, you
• 34:21
  understand, some bad, bad, bad things on her computer and
• 34:25
  unfortunately bad, bad things involved her and she went to
• 34:28
  computer village to have the thing fixed.
• 34:30
  And then you know, boys had access to material.
• 34:33
  That's how her video now leak. But luckily for her, I was back
• 34:37
  in those days when social media no to you know, social media was
• 34:41
  not really social media. If it was today, they think
• 34:43
  would have gone viral, viral all over the place.
• 34:47
  But luckily back then team not to spread so security of data,
• 34:52
  you know, all these sorts of things.
• 34:54
  So when you find a phone plug that you trust, a mobile
• 34:58
  accessory person that you trust, you want to buy PlayStation, a
• 35:01
  PlayStation person that you trust, you all wanted that
• 35:05
  person for a long time. So your sales process is what is
• 35:08
  going to set you apart. And so I told Mr. David that
• 35:11
  your sales process in itself is the beginning of setting you
• 35:15
  aside. So you don't have a sales
• 35:17
  process. You want to see how you can use
• 35:18
  your selling process to distinguish yourself, set
• 35:21
  yourself apart from the competition.
• 35:22
  Call me, send me a text message or WhatsApp message 08064662140.
• 35:29
  Like I said, don't worry, I sound expensive.
• 35:32
  Don't be afraid, I'm reasonably priced.
• 35:34
  Apart from that, I don't bite and answer one question for
• 35:36
  free. You have nothing to lose.
• 35:38
  Install Telegram on your phone before I reach out, because
• 35:40
  we'll do it on Telegram. The session will be recorded so
• 35:43
  that you have access to the audio.
• 35:45
  It's audio only. Believe me.
• 35:47
  I don't want you people to see my face off.
• 35:49
  So it's an audio call. I don't do video.
• 35:51
  Don't ask me for video. So where are we?
• 35:56
  So that's Mr. David dealing with competition.
• 36:03
  Yeah. And I said, I think that was the
• 36:05
  main message for Mr. David, that your sales process in itself
• 36:10
  will be the distinguishing factor and you are the person
• 36:14
  that people are buying into. It is not the phone.
• 36:17
  So let me say one more time in case people didn't hear me
• 36:19
  correctly. If you sell insurance, the
• 36:22
  reason why somebody is buying insurance from you is not
• 36:24
  because the insurance product is better.
• 36:27
  In Nigeria, there are dozens of insurance companies and all the
• 36:31
  products sound the same. The difference is, is not much.
• 36:34
  The difference is you know, your rate is, you know, 3%.
• 36:37
  Another person's rate is 3.2. I mean, at the end of the day,
• 36:40
  is somebody going to decide based on that 0.2 it is you that
• 36:45
  they are keen into, they trust you as an insurance agent.
• 36:50
  So wealth management, it's the same thing.
• 36:52
  The rates are all the same. If treasury bills is 11% in GTB,
• 36:57
  it will be 11% in FCMB or maybe 11 point 111.2.
• 37:02
  It is not that .1 or .2 that is making somebody to buy treasury
• 37:06
  bills from your bank. They are buying the treasury
• 37:09
  bills from you because they trust you, Kemi, or you Kunle,
• 37:15
  or you Hamza. They trust you.
• 37:20
  As a certified wealth professional, you have their
• 37:23
  best interests at heart. You're familiar with them, you
• 37:27
  know their goals, you know their aspirations.
• 37:29
  So if you tell them that we will do 20% of your wealth in
• 37:34
  treasury bills, then we'll now put another 20% in index funds.
• 37:41
  We'll now put another one in this growth stock in this
• 37:45
  whatever in that, whatever it is you that they are trusting, it
• 37:50
  is not the financial product because at the end of the day,
• 37:54
  any other wealth professional out there is selling the same
• 37:58
  product and the price is more or less the same.
• 38:01
  The difference between 11% and 11.2%, yes, things compound over
• 38:06
  time, but for the average person, 11 percent, 11.2%, yeah,
• 38:11
  it's neither here nor there. It is you that they are buying.
• 38:17
  So anyway, excuse me, it's been 40 minutes.
• 38:20
  Let me not overstress this one. Let me move on also, so I can go
• 38:25
  and have some honey and lemon tea.
• 38:27
  Let me soothe my voice. Be ready for my TV debut.
• 38:31
  What I'm is, I need to go and cut my hair, I guess, to appear
• 38:34
  fresh when I'm on TV, you know, you never know.
• 38:38
  I'm not looking for a second wife, but you never know, I
• 38:41
  guess to be fresh. All right then Mr. Isaiah.
• 38:45
  Oh yeah. So Isaiah was the one that was
• 38:47
  interested in the recycling industry.
• 38:49
  Now the reason why is because the week prior Mr. Samuel called
• 38:52
  in and he was talking about other business opportunities
• 38:56
  because I was scolding one guy about why he is he's wasting his
• 38:59
  time in multi level marketing. So Mr. Samuel called in to say
• 39:05
  that there are other business opportunities and he spoke about
• 39:07
  the recycling industry in Nigeria.
• 39:11
  Well, in Abuja, let me just put it that way.
• 39:13
  So he was talking about how he could take pure water, sachets,
• 39:17
  plastic bottles, all these kind of things, take them to Jabi
• 39:21
  Park in Abuja, sorry, Jabi Market, I think.
• 39:24
  And then the thing will be melted down into pilot pellets
• 39:28
  and then sold to people coming from Kano who buy the pellets as
• 39:33
  raw materials. But it's a high volume kind of
• 39:36
  business because he said what he said.
• 39:40
  I have not verified and you know, I didn't go to the place
• 39:43
  so I do not know. So please be hearing this for
• 39:46
  the first time, go and do your own research.
• 39:49
  No say because you heard me say it, therefore it is a good idea.
• 39:52
  Go and do your own research. Be security conscious, protect
• 39:55
  yourself. Verify all the information that
• 39:58
  you hear, whether from me or from any other place.
• 40:01
  What I am saying is not an endorsement.
• 40:03
  If you're listening to another radio show, another podcaster,
• 40:06
  what they're saying is not an endorsement.
• 40:08
  You are responsible for the decisions you take.
• 40:11
  So please go and verify, go and investigate.
• 40:15
  So what Mr. Samuel said, it's 1/5 per KG.
• 40:20
  And that's not, that's not much. That's not much.
• 40:23
  So if you want to earn 20 kilograms from the deal, look,
• 40:27
  think of the amount of pure water such that you have to go
• 40:29
  and pack. I mean, that's a lot.
• 40:31
  But anyway, I appreciate what Mr. Samuel was saying.
• 40:35
  Basically, he was just trying to say that look, there are other
• 40:36
  ways to make money. We should all stop looking for
• 40:39
  this whole money while you sleep.
• 40:42
  The secret to eternal wealth, you manifest to the universe,
• 40:46
  money by doing nothing at all. And you know, all these funny,
• 40:49
  funny, funny ideas, they end up putting you in trouble,
• 40:52
  especially in the Nigerian context.
• 40:54
  You hang around those circles, you hang around those boys, you
• 40:56
  hang around those girls, eventually get into some kind of
• 40:59
  trouble, You know, you lose money or your reputation gets
• 41:02
  burned. But of course, there's genuine
• 41:05
  multi level marketing. There is.
• 41:07
  Well, let's just be careful. So, OK, so as I called him
• 41:13
  because he wanted access, how do we get into this sort of
• 41:16
  industry? That's the reason why he called.
• 41:18
  And he also complained that he has plenty of water bottles,
• 41:21
  plastic bottles that he hasn't sold.
• 41:23
  Now, the guy was trying to pull your first one to see how he can
• 41:25
  advertise his stuff on the air. But I caught the guy sharp.
• 41:29
  I told him, I look, you know, this radio station is enough for
• 41:32
  profit. And apart from that, it's not a
• 41:36
  good idea to try. And just like radio stations
• 41:39
  will not allow you to just go and do free advertising for
• 41:41
  what? I guess what I'm just trying to
• 41:43
  say is that look, some of you who call in, whether you're
• 41:46
  reaching on the podcast or you're calling on the radio
• 41:48
  show, some of you are trying to be too sharp, like you think
• 41:51
  you're the only one who is smart.
• 41:52
  Not only, you know, book, calm down.
• 41:55
  People are no idiots. You will actually make progress
• 41:58
  if you respect people, right and you level with them than if
• 42:04
  you're trying to pull a fast 1. So let's say you're trying to
• 42:08
  stylish Lee. Let's say you call in on the
• 42:10
  radio show. You want to advertise your shop.
• 42:14
  If you just carry on and have the conversation normally, you
• 42:17
  never know, the radio show host might be saying, oh, by the way,
• 42:20
  where's your shop self? Let us let us support you.
• 42:22
  He can say so on his own, but then you call in and lose as if
• 42:26
  you're trying to stylish Lee sneak in your shop's name or
• 42:28
  your shop's location. The guy will shut you down.
• 42:32
  Stop trying to be smart and respect people.
• 42:35
  Don't think you're the only one who is sharp, right?
• 42:40
  OK, so, so excuse me. So Mr. Isaiah.
• 42:45
  OK, yeah. So anyway, I just told him that
• 42:47
  look, all he has to do is to go to Jabir, just like Mr. Samuel
• 42:51
  said, and then he has to do the research on his own.
• 42:54
  The only thing I could confirm was that while I, I was living
• 42:57
  in in Kano, because remember, I'm a former lawyer.
• 43:01
  So while I was living in Kano after my youth service, one of
• 43:04
  the one of our clients for the firm that I worked at, yes, the
• 43:08
  guy was involved in the production of bathroom slippers,
• 43:14
  bathroom slippers and then letter back.
• 43:17
  So I can confirm that yes, there are people in Kano who that's
• 43:20
  their line of business and they're always looking for raw
• 43:23
  material to use to produce the things.
• 43:25
  So that's how we ended with Mr. Isaiah.
• 43:28
  So that's a little bit. I know about recycling bottles
• 43:32
  industry in Abuja. If you're based in Abuja and you
• 43:36
  do you go to investigate this sort of thing and you you get
• 43:39
  some more information then reach out to me 08064662140 let's
• 43:46
  chat. Let me see what it is that
• 43:48
  you've found out. You know, let's educate some
• 43:50
  people. Then here another important
• 43:55
  question for the night during our roundup soon because it
• 43:57
  looks like we're going to hit one hour.
• 44:00
  Those Elizabeth who called and really why she calls because her
• 44:04
  husband is involved in the boutique business.
• 44:06
  In fact, her she just reached on the team made my heart melt
• 44:09
  because you know, as a self-employed person, I
• 44:12
  understand these squirrels because I have these squirrels
• 44:15
  with my wife. You know, once in a while.
• 44:17
  No, maybe not now so much, but when I was younger, yes, that
• 44:20
  quarrel used to come up. So Elizabeth was confused,
• 44:23
  seriously confused because her husband has a boutique and then
• 44:26
  the guy who gave stuff out on on credit and then the guy will
• 44:31
  call the people to say, oh boy, how far now you never pay me or
• 44:34
  call the babe. You say, Madam, you haven't paid
• 44:36
  any people. People will now be making all
• 44:38
  kinds of excuses. And then Elizabeth was
• 44:40
  frustrated because her husband is not fighting for the money.
• 44:42
  Elizabeth Vex I understood perfectly well.
• 44:46
  I understood because if I I remember one day, I can't
• 44:50
  remember what it was, but I remember this was before we had
• 44:55
  our our first born before we had our first born.
• 44:57
  But I can't remember the exact deal, but I know that the money
• 45:00
  was 50K. And this way that my wife vex
• 45:04
  whenever is small money. If I go out and I come back, my
• 45:07
  wife wants you to be good money, good money.
• 45:10
  I see young men, when you will say your wife is not supporting
• 45:13
  you, it's not as if she is not supporting you.
• 45:15
  It's just that she loves you. She respects you.
• 45:17
  She thinks you're a man of immense value and she thinks
• 45:20
  you're selling yourself short when you do some kind things
• 45:22
  because there are some kind deals that if the money is
• 45:25
  justifiable, the way your wife will stand behind you because I
• 45:28
  remember the first time there was one deal, I can't remember
• 45:31
  how much it was, but the money was money was not bad.
• 45:35
  I think it was close to like a million or so.
• 45:38
  This is how we had our first one.
• 45:39
  All surprised is my wife that woke me up in the morning.
• 45:42
  She woke me up is how boiled water going above.
• 45:46
  Don't be late. I was shocked.
• 45:49
  So young men, it's not as if your wife, it's not as if she
• 45:53
  they disregard you. She loves you, she values you.
• 45:56
  She thought you were a sharp guy.
• 45:58
  She thought you were intelligent.
• 45:59
  She thought you were capable of taking over the world.
• 46:01
  So when she married you, it's not just marriage.
• 46:03
  Like a woman saying yes to you is like vote of confidence.
• 46:07
  So a woman gives you the ultimate vote of confidence.
• 46:09
  I'm with you. Ride or die to Infinity and
• 46:12
  beyond, from here to the grave. And you're now selling yourself
• 46:15
  short. It effects them.
• 46:17
  It effects them powerfully. So, young man, don't be angry.
• 46:22
  That's just where it's where it's coming from.
• 46:24
  You love somebody, you carry them up in your eyes only to see
• 46:29
  them go out into the world, then they will not be bringing
• 46:31
  themselves down. So when our wives, our
• 46:34
  girlfriends are babes, when they, they vex, that's that's
• 46:36
  where they're coming from. That's where the pain is coming
• 46:39
  from. That's where all the chukri, the
• 46:40
  chuk chuk, that's where it's coming from.
• 46:42
  That's the pain thereof. They see you, they put you on a
• 46:45
  pedestal up. When you go outside, you put
• 46:48
  yourself on a pedestal down. It makes our wives and our
• 46:51
  girlfriends makes them. They're confused, like what's
• 46:54
  going on here? What's going on?
• 46:56
  This is not what I signed up for.
• 46:57
  This is not who I thought I married.
• 47:00
  So Elizabeth, I understand her situation.
• 47:03
  I really understand her situation.
• 47:05
  So my heart went out to her and she's confused.
• 47:07
  That hobby is not fighting for the money.
• 47:10
  So, you know, I'm not a marriage counsellor.
• 47:12
  And I told her, well, don't have to have that conversation, but I
• 47:15
  had to tell Madame Elizabeth that, look, there's some
• 47:17
  fundamental issues that involved.
• 47:21
  So the matter of whether your husband is fighting for the
• 47:23
  money or not, that's a separate issue.
• 47:25
  It's a separate issue. And I hope they are able to have
• 47:29
  that conversation. But I told her that she needs to
• 47:30
  call her sweetie because these money conversations can be, can
• 47:36
  be hard. It's also one of the reasons why
• 47:37
  I make this podcast because marriages and relationships, it
• 47:42
  can be difficult. And I remember when before my
• 47:46
  wife and I got married, the guy that counseled us, he told us
• 47:49
  that every single person on this earth will quarrel about 5 main
• 47:54
  things in their marriage for some reason.
• 47:59
  Unfortunately for you dear listener, I only remember 3, so
• 48:03
  I can't remember what the other two are.
• 48:04
  I keep racking my brain and I can't remember the other two,
• 48:08
  but the guy said that every single couple on this planet, no
• 48:12
  matter the country will quarrel over 5 things.
• 48:16
  Unfortunately, the three that I remembered was just money, sex
• 48:20
  and then in laws. Those are the only three that I
• 48:23
  remembered and actually like the guy said, he came to pass.
• 48:27
  My wife and I, we've quarreled about money, we've quarreled
• 48:30
  about sex. Surprisingly, because I was
• 48:33
  wondering, I have sex, how would they be quarreled again?
• 48:35
  Any you know, this is not that kind of podcast, but yes, they
• 48:37
  do be quarreled around sex and then around in laws.
• 48:42
  I was wondering how people quarrel about in laws.
• 48:43
  But you know, if you haven't married yet, don't worry, it
• 48:45
  will come and I'll try and remember the other two.
• 48:49
  So part of the reasons why I make this podcast is if at least
• 48:52
  we sort out the money and people are only quarreling over sex and
• 48:55
  in laws is good, at least you've removed money pressure.
• 48:58
  So that's part of the reason why I make this podcast.
• 49:01
  I don't want you to quarrel about money.
• 49:03
  You're a man. I don't want you to quarrel
• 49:05
  about money. You're a woman.
• 49:06
  I don't want you to quarrel about money.
• 49:07
  Let the money be sorted. Any other quarrel, let it be in
• 49:10
  laws or your mother is coming. I don't like your mother, your
• 49:12
  sister is coming. I don't like your sister.
• 49:14
  And that kind of quarrel, or let it be sex quarrel.
• 49:20
  You know you're not paying attention to me.
• 49:21
  You only come here when you're hungry or you're not
• 49:24
  adventurous. I want you to be more
• 49:26
  spontaneous. You know all that can quarrel.
• 49:29
  But at least the money one. Let's remove that one from the
• 49:31
  equation. That's part of the reason why I
• 49:33
  made this broadcast. Sorry, I'm preaching.
• 49:37
  So I told Elizabeth that she needs to call her sweetie and I
• 49:40
  need to sit down. The bigger thing is that they
• 49:43
  need to have a conversation around the credit policy for the
• 49:48
  business. Now, the reason why lots of
• 49:50
  Nigerian businesses struggle on this credit thing is because
• 49:53
  they do this credit thing on a case by case basis, on a face by
• 49:57
  face basis. I'm looking at you now.
• 49:59
  I can see your face now. You're asking me for credit now.
• 50:02
  I will decide now and I will give credit now.
• 50:06
  And because of that, the credit I will give to you will be
• 50:08
  different from the credit that I will give to another person and
• 50:11
  I will be different another person and another person, you
• 50:14
  know, and then the thing just becomes a huge mess.
• 50:18
  So I told her the first thing that her and her sweetie, her
• 50:21
  and her husband need to do is they need to sit down and they
• 50:23
  need to agree first on the credit policy.
• 50:27
  Number one question, are we giving credit or are not giving
• 50:30
  credit? Now, I'm not going to decide for
• 50:32
  any business, but it's a question you need to answer.
• 50:34
  There are some businesses in Abuja, I don't know about other
• 50:37
  parts of of Niger. There are some businesses where
• 50:40
  you walk into and you see it, they paste it on the door.
• 50:45
  They say please in order to avoid embarrassment, don't ask
• 50:48
  for credit. That's the funniest one I saw.
• 50:52
  They said please to avoid embarrassment, do not ask for
• 50:54
  credit. In my mind I'm wondering what
• 50:56
  kind of embarrassment. Like if I ask for credit, you
• 50:58
  shout at me, I'll be you insult me or what?
• 51:01
  Anyway, but that business owner has decided no credit.
• 51:06
  Don't even ask. Now there's another shop where I
• 51:09
  saw the thing was pasted on the door and he wrote no credit,
• 51:13
  please. I think there was another place
• 51:17
  where I'm not a bank. No ask for credit.
• 51:20
  But that business owner, those business owners, they have
• 51:23
  decided we will not give credit. So that's the first conversation
• 51:27
  that Madam Elizabeth has. Sweetie, they need to have
• 51:31
  credit or no credit. And once you decide to stick to
• 51:34
  it, no more credit. Good.
• 51:36
  You carry a sign and you put there, no more credit, please,
• 51:40
  so that by the time they're coming, they will see it on the
• 51:42
  door. Not even to ask.
• 51:44
  Now, let's say you are Madam Elizabeth, sweetie, you're in
• 51:48
  that kind of situation. And generally genuinely you, you
• 51:52
  like your customers, you trust them.
• 51:54
  You can use your wife as a bad guy, All right?
• 51:57
  It's allowed. It's a trick in business.
• 51:59
  We do it all the time. You can use your wife as a bad
• 52:01
  guy. Women, you can use your husband
• 52:03
  as a bad guy too. So you sell clothes, your girls
• 52:06
  come, they want to buy stuff. They collect goods of, you know,
• 52:09
  300,000. And they say, oh, you know what,
• 52:12
  I'll pay next week Friday. You say, I know the me and
• 52:16
  Chukudi, we had this quarrel last week.
• 52:19
  In fact, my sister, I thought this marriage was about to end.
• 52:22
  I thought this marriage was about to end.
• 52:24
  Chukudi has said no more credit. You make Chukudi the bad guy,
• 52:28
  say really, yes, now you know, I trust you now, but you could
• 52:32
  have said no more credit. Make you could be the bad guy
• 52:36
  then, Mr. Elizabeth, sweetie, make Madame Elizabeth the bad
• 52:39
  guy. Say my wife.
• 52:40
  We don't require this thing too much.
• 52:42
  Elizabeth has said no more credit.
• 52:45
  OK, so put the notice there. Use your spouse.
• 52:50
  Use your business partner as the bad guy.
• 52:52
  If you're not firm enough to say no more credit, use your spouse
• 52:55
  as the bad guy. No problem.
• 52:57
  And then there's women that are very strong, like my wife.
• 53:00
  That's why I like her. Once we decide something, if I'm
• 53:02
  not strong enough, I can use as a bad guy.
• 53:05
  She doesn't mind. She will stand in the gap.
• 53:08
  Oh, by the way, even us to there's some things that she
• 53:11
  wants to say no to her mom. I hope her mom is not listening
• 53:13
  to this podcast, but she doesn't have the liver to say no.
• 53:17
  I said it's no problem. That's the reason why I'm here.
• 53:20
  I'm here to take the fall. So I'm the one that will now say
• 53:22
  no to her mom. See.
• 53:25
  So it's like that as a couple, people should be supporting
• 53:27
  yourself once in a while. You stand in the gap, your
• 53:29
  husband is not too strong on some teens stand in the gap.
• 53:32
  Wifey is not too strong on some teens stand in the gap.
• 53:35
  That's way they be right. When we enter into marriage,
• 53:38
  we're also, you know, also we also become bodyguards also
• 53:44
  start doing bodyguard work. So credit or no credit, that's
• 53:50
  the first conversation. Good.
• 53:52
  Now the next thing that I have to decide is if I want to do
• 53:54
  credit, the terms of the credit have to be clear.
• 53:59
  And this is how I begged Madam Elizabeth that she should advise
• 54:01
  her husband because my cousins used to be in the clothing
• 54:05
  space. And so I know that credit is
• 54:07
  just a way of life in that space.
• 54:12
  When it comes to, you know, you will go to the UK, you go and
• 54:15
  buy shoes, you go and buy bikes, you go and buy this.
• 54:17
  And I know that credit is your is your way of life.
• 54:22
  So you should protect yourself. Yes, your customers expect
• 54:25
  credit. Make sure that credit terms are
• 54:27
  in your favor. So my first advice to you, my
• 54:30
  name Elizabeth, was that nobody should enter into the shop and
• 54:34
  carry something and did not drop nothing.
• 54:40
  I repeat, nobody should enter your shop and carry something
• 54:44
  and then they did not drop nothing in sales.
• 54:47
  We call that unprincipled concessions.
• 54:50
  Somebody wants a concession, you know, let me carry this now,
• 54:54
  I'll pay later or reduce the price for me, or this or this or
• 54:57
  this. If somebody wants something, we
• 55:00
  take something in return. So somebody wants credit,
• 55:12
  There's no discount. You want credit, you pay full
• 55:16
  price. In fact, mark up the price.
• 55:22
  No, on principle concessions then #2 if somebody wants credit
• 55:27
  and they're taking stuff, agree ahead of time before the person
• 55:31
  gets here. Because you have to protect
• 55:33
  yourself. Because some people are smooth.
• 55:34
  There are some people that will come and smile and win and dine
• 55:37
  you and stuff like that. You know, especially for we men,
• 55:40
  you know, the woman comes in, she's looking fresh, you know,
• 55:43
  she's smiling, you know, maybe she touches, rubs your hand
• 55:46
  lightly, you know, before you know, that's how.
• 55:49
  No, no, no. Create the policy.
• 55:51
  The policy is there to protect you and the policies that could
• 55:53
  protect the business. OK, You want credit?
• 55:57
  No problem. It means that you're going to
• 56:00
  pay full price. That 10% discount that we gave
• 56:03
  you does not apply. Really.
• 56:05
  Yes, it does not apply. But I want the 10% discount.
• 56:08
  OK. If you want the 10% discount,
• 56:09
  sister, you have to carry everything now and pay in full.
• 56:13
  That's the only way that this 10% discount applies.
• 56:16
  And then stand strong, stand strong.
• 56:19
  Remember, if you're not strong enough, use your wife as the bad
• 56:22
  guy, use your husband as the bad guy or be strong.
• 56:31
  Then I also advise her that back in our event days, the
• 56:34
  tradition, at least in Abuja, back then, vendors used to try
• 56:37
  and collect 50% of their money. So if the, if the work was let's
• 56:41
  say 5M 5 million, the wedding is in March.
• 56:45
  Most vendors typically you want to collect like 2.5 million, you
• 56:50
  know, maybe like the month before or something so that as
• 56:53
  the date is drawing closer, it's just the remaining 2.5, the
• 56:56
  people are now dragging. And then some people used to do
• 56:59
  OK after we deliver. So, so, so you now pay the
• 57:01
  balance. But even at 50%, I wasn't happy
• 57:05
  with it because me, quite frankly, I don't like chasing
• 57:08
  people for money. I don't.
• 57:09
  So even as a wedding photographer and then providing
• 57:13
  media services for NGOs, my own was I like to collect 80% like
• 57:18
  before we start the work. And that's why I don't like
• 57:22
  working with international NGOs because international NGOs have
• 57:24
  this thing of net payment is payment is net 30.
• 57:28
  In other words, I delivered the work in January.
• 57:31
  I've already finished work in January, you'll now pay me in
• 57:33
  February. But anyway, my wife says it's
• 57:36
  not a big deal. She looks at it as a savings,
• 57:39
  that's where she looks at it. But I won't like the thing vexes
• 57:41
  my spirit anyway. How for do so?
• 57:51
  Back in the event days, yes, at least in Abuja, people try and
• 57:54
  capture 50% before the thing. My own opinion, if you can
• 57:58
  collect 8% of money is not bad. So if somebody comes and carries
• 58:01
  merchandise from your shop worth 100,000 is not a bad idea to say
• 58:06
  no problem we will give you credit, but you will transfer
• 58:10
  80,000 naira now before you leave and I will hear bring him
• 58:18
  and confirm from my bank app that the money is there before
• 58:22
  you leave. Yes, I will give you credit, but
• 58:25
  the first time is you have to pay 80% of the money.
• 58:27
  So I told Elizabeth and sweetie, you will need to sit down.
• 58:30
  You will need to agree. So credit or no credit.
• 58:33
  OK, We have agreed no credit. Put the sign out there.
• 58:37
  When the sign is there, I agree with your wife.
• 58:39
  I agree with your husband, who's going to be the bad guy so that
• 58:43
  if you break, the bad guy will be able to stand strong.
• 58:46
  Then we've agreed credit. OK, no problem.
• 58:48
  No unprincipled concessions. If somebody wants a discount, we
• 58:54
  cannot give you credit. You want the take advantage of
• 58:57
  the of the discount. You have to pay in full.
• 59:01
  OK, good. So pay in full carrier, then go.
• 59:03
  OK, no problem. You still want to do credit, OK,
• 59:08
  no problem. The policy that we have agreed
• 59:11
  to, you know, me and Elizabeth or me and Mama Princess, me and
• 59:15
  Mama Chukudi, what we have agreed is that everybody has to
• 59:19
  drop 80% now before going forward.
• 59:21
  So the clothes that you have carried is 120,000.
• 59:24
  You bring out your phone, you calculate ping, ping, ping,
• 59:26
  ping, ping. OK, that means you need to
• 59:28
  transfer 95,000 to us now. Oh, by the way, I don't know if
• 59:31
  that math is correct, but you get my point.
• 59:34
  Then the final thing that I told my mind, Elizabeth, and this is
• 59:37
  where a lot of you get it wrong, especially those of you in the
• 59:41
  boutique space who are giving people on credit.
• 59:45
  You will do not agree explicitly on the timelines.
• 59:50
  Somebody will say I will pay you around that kind month ending.
• 59:53
  OK, good. Now this is I explained it to
• 59:55
  Madam Elizabeth, Somebody who say month ending, you say no
• 59:58
  problem, I trust you. But it's the problem for some
• 1:00:01
  people because right now this is March 11th as at the time of
• 1:00:06
  making today's podcast recording for some people when they say
• 1:00:08
  month ending, what they mean is, yeah, March 22, March 25.
• 1:00:13
  And that's good, right? The problem is some people when
• 1:00:16
  they say month ending, they mean March 28th, March 30.
• 1:00:21
  Some people when they say month ending.
• 1:00:24
  Even though I am March, they actually mean like April 4th,
• 1:00:28
  5th, 6th, maybe even April 7th. To them, those people is still
• 1:00:32
  month ending. How does it work?
• 1:00:33
  I have no idea. I'm just simply telling you that
• 1:00:36
  those people exist. There's some people who will
• 1:00:38
  tell you in May that they will pay month ending.
• 1:00:44
  You will call them May 31st to say how far where's my money?
• 1:00:49
  And they will say come why? Why are you?
• 1:00:51
  Why are you the provoke like what's going on?
• 1:00:54
  Did I not say month ending? You will say Dino say month you
• 1:00:58
  say month ending now month ending not reach now should be
• 1:01:01
  you know May 31st now and the person will say oh come on.
• 1:01:06
  So you mean if I pay you next week Friday, is that not month
• 1:01:09
  ending? You now say next week Friday.
• 1:01:12
  Is that not May 7th? May 8th you say no be month
• 1:01:15
  ending. You're not saying training to
• 1:01:16
  all kind quarrels. Good.
• 1:01:18
  So when somebody say month ending, you say OK, fantastic,
• 1:01:20
  no problem. When you say month ending, what
• 1:01:23
  do you mean, Sir? What do you mean, Madam?
• 1:01:29
  And hear what month ending means.
• 1:01:35
  But for me, for those of you who listen to the podcast, you know
• 1:01:38
  that I don't like putting things in people's hands because you
• 1:01:40
  can't do say something I don't want to hear.
• 1:01:43
  For instance, some people who say month ending means first
• 1:01:45
  week in May. I don't want to hear that kind
• 1:01:47
  of thing. So I am the one who likes to
• 1:01:51
  propose when somebody says month ending, I'll say, OK, fantastic.
• 1:01:54
  So that means I should be expecting payment on or before
• 1:01:58
  March 25th. I will say it if there's going
• 1:02:04
  to be a problem. Let us find out now.
• 1:02:06
  Some people who say, like people who say who 25th is now a month
• 1:02:11
  ending, at least the quarrel has started now, not that they've
• 1:02:16
  taken the goods and then they've left and then the quarrel has
• 1:02:18
  started. If there's going to be a
• 1:02:19
  quarrel, let the quarrel happen now.
• 1:02:21
  Let me protect myself, let them leave my merchandise.
• 1:02:28
  So I prefer to propose. So that means I'll be expecting
• 1:02:31
  payment on or before March 25th, March 28th, March 30th,
• 1:02:37
  whatever, pick the date. Remember it's a policy.
• 1:02:41
  You and your spouse, you and your business partners agree.
• 1:02:46
  So that's step one. That's a mistake that lots of
• 1:02:48
  people make Mont ending. So no problem.
• 1:02:51
  But Mont ending to me means something different.
• 1:02:53
  Mont ending to somebody means something different.
• 1:02:55
  It will shock you, it will shock you.
• 1:02:58
  My sister was in this business. It will shock you.
• 1:03:00
  There's some people who carry goods in January, then the
• 1:03:05
  January 1st, they'll pay February 14th.
• 1:03:07
  In their mind, they still paid you Mont ending.
• 1:03:10
  Don't ask me how it works. There are some people that
• 1:03:13
  clearly you know, oh and January finished on the 30th.
• 1:03:17
  I was able to pay before Valentine's Day.
• 1:03:19
  It's still month ending. So that's me how it works.
• 1:03:21
  Let's be clear then what next? Now the follow up now, because
• 1:03:28
  some of you in this fashion space, in this boutique space,
• 1:03:30
  you don't have the CRM. You think, oh, there's no need
• 1:03:33
  for fancy computer and all that, no problem.
• 1:03:36
  Your CRM doesn't have to be on a computer.
• 1:03:38
  You know, you can use your phone, but sure there's some
• 1:03:40
  records or a physical diary. So like my sister used to use
• 1:03:42
  physical diary and damn, she was disciplined, very disciplined.
• 1:03:46
  I've never seen somebody so disciplined in the diary.
• 1:03:48
  So it was all there. Who paid?
• 1:03:50
  When did they pay? How much did they pay?
• 1:03:52
  When is the balance? When was the last time she
• 1:03:54
  called them? She just write everything in the
• 1:03:56
  diary now because this thing is boutique.
• 1:04:01
  Plenty, plenty customer, plenty, plenty volume.
• 1:04:03
  If you're not recording it somewhere, forget it.
• 1:04:06
  You are losing money and you're losing serious money.
• 1:04:08
  I don't need to be an accountant to tell you.
• 1:04:10
  I'm just letting you know you are losing money.
• 1:04:12
  There's no way that 20 people came into your store last week,
• 1:04:18
  16 of them bought items on credit.
• 1:04:21
  You didn't record it down. You're going based on trust or
• 1:04:23
  you're going based on WhatsApp conversations.
• 1:04:25
  There's no way that you are losing money.
• 1:04:27
  You are losing money, even if it's just on small, small items
• 1:04:30
  here and there, you know, maybe there was one shirt that OK, it
• 1:04:33
  was not that expensive, you know, maybe 7 or 5 or some.
• 1:04:36
  You are losing money somewhere. Take it from me, you don't need
• 1:04:40
  to be an accountant. You are losing money.
• 1:04:42
  So whatever it is, whether it's on the computer system, whether
• 1:04:45
  it's a CRM on your phone or whether you're using physical
• 1:04:47
  diary, you need something like that.
• 1:04:49
  Now, the reason why we need this is because this is what is going
• 1:04:52
  to help you to stay on the matter because there's something
• 1:04:57
  external to you that will help you stay focused.
• 1:05:02
  The reason why we have to stay focused is now when it comes to
• 1:05:05
  collections, too many Nigerians, we wait until the last day.
• 1:05:08
  If somebody says Mont ending, you agree that Mont ending was
• 1:05:11
  March 30th, maybe 30 days of September, April, June and
• 1:05:16
  November, all the rest of 31, good.
• 1:05:18
  So March 31st you will agree that month ending was March
• 1:05:22
  31st. The problem is you will wait
• 1:05:24
  until March 31st before you start blowing up the person's
• 1:05:26
  phone. You are wrong.
• 1:05:29
  Ask any salesperson. You can't wait until the day
• 1:05:34
  gone gone before you start blowing up somebody's phone.
• 1:05:36
  You are wrong. That's where story we start
• 1:05:39
  entering the picture. Oh, month ending orange.
• 1:05:43
  Ah, sorry I forgot. Or they will say, you know, I
• 1:05:48
  had your money ready, but then my younger brother was traveling
• 1:05:52
  back to school and then the car tire burst.
• 1:05:55
  So I had to wire him money so that they can fix the tire.
• 1:05:58
  You know, I didn't want the boy to sleep on the road, you know,
• 1:06:01
  blah, blah, blah. Or or not, something happened in
• 1:06:03
  the village. You know, you're not starting a
• 1:06:05
  story. So ask any salesperson, any
• 1:06:09
  salesperson, they know that we do not wait until the last day
• 1:06:11
  before we start chasing people for the money.
• 1:06:15
  So this is what I advise Madam Elizabeth the week before.
• 1:06:20
  In fact I even told her two weeks before.
• 1:06:24
  If they say 30, March 31st is month ending.
• 1:06:30
  Two weeks before you call the person.
• 1:06:33
  What's up? How you did, the clothes that
• 1:06:35
  you bought. Should be You're enjoying it.
• 1:06:36
  You stay well. The wedding you went for.
• 1:06:37
  Everything is cool. Abby.
• 1:06:38
  All right. No problem.
• 1:06:39
  Justin, may I greet you? Uh huh.
• 1:06:41
  Don't forget we said you're going to pay.
• 1:06:43
  March ending, So no problem. I got you.
• 1:06:45
  I got you. March 31st, Abby.
• 1:06:47
  I got you. Don't worry.
• 1:06:48
  Don't worry. You end the call.
• 1:06:49
  That's good. Then give another four or five
• 1:06:53
  days and you find a way to send a text message to reiterate the
• 1:07:00
  same point. Then when it is one Week 2 you
• 1:07:03
  call again. So you see now that in that two
• 1:07:06
  weeks period leading up to you already called three times to
• 1:07:09
  put them on notice. That Luco, we agreed on 31st of
• 1:07:14
  March 1 of the reasons why we do this OK is because sometimes
• 1:07:18
  some people are ready before, but then they say, oh, I promise
• 1:07:23
  them much. Let me use one or two things.
• 1:07:25
  If you catch somebody in the period and the person is ready
• 1:07:27
  before, oh cool, you can collect another deposit.
• 1:07:32
  The money has now gone down. So you call 2 weeks before.
• 1:07:40
  After a couple of days you send a text message.
• 1:07:42
  When it is one week to, you call the person again and then a
• 1:07:47
  couple of days after that. So in the two week period
• 1:07:50
  leading up to the end of the payment, you have contacted the
• 1:07:53
  person about four or five times. When you are keeping people on
• 1:07:57
  their toes, when you are applying pressure like this on
• 1:08:00
  them. Remember the example I gave, 20
• 1:08:03
  people came to your shop, 16 people bought on credit.
• 1:08:07
  You can see how with this pressure you increase the level
• 1:08:11
  of collections that you have. So this is how we do it.
• 1:08:19
  This is how we do it. And because Madam Elizabeth
• 1:08:22
  situation pain me, that's the reason why I say today, today,
• 1:08:25
  today, I must not forget this and I must talk about this one.
• 1:08:31
  So because I'm in sales, it's something that we're used to.
• 1:08:37
  You know, collections is also part of the job, you know,
• 1:08:41
  especially for those of you who get paid on commissions.
• 1:08:44
  If you go and sign a contract with somebody for 20 M OK, no
• 1:08:47
  problem. The contract was for 20 MRB.
• 1:08:49
  OK, no problem, people agree credit terms.
• 1:08:52
  OK, no problem. At the end of the day the person
• 1:08:54
  didn't pay the money completes the person only pay 15-M instead
• 1:08:58
  of the 20 M No problem. You're thinking your guy will
• 1:09:00
  pay you Commission on top money that has not that they have not
• 1:09:06
  completely collected. So as a salesperson you learn to
• 1:09:09
  stay on these type of things so that when the time comes your
• 1:09:13
  guy will give you your Commission.
• 1:09:14
  Neat. No problem.
• 1:09:18
  So please, for those of you especially in the boutique
• 1:09:20
  space, this is how you think about it.
• 1:09:22
  Step one, decide credit or no credit.
• 1:09:25
  OK, no credit. Fantastic.
• 1:09:27
  Put the notices up, Put the notice on your Instagram handle.
• 1:09:32
  Put the notice on your WhatsApp handle.
• 1:09:34
  Then you decide who the fall person is so that when you're
• 1:09:37
  weak, the fall person can be strong for you.
• 1:09:40
  In fact, for this photography studio that I loved, Pie and
• 1:09:45
  Jessa Π and Jessa. Yeah, Pye and then Jessa JIRSA,
• 1:09:52
  they should be really, really big in, I think, like, Florida
• 1:09:54
  or so. I don't know if they're still,
• 1:09:56
  you know, on the scene. So Π the guy who takes the
• 1:09:58
  photos, the guy does not like money conversations at all.
• 1:10:01
  I can't remember if Jessa is his sister.
• 1:10:04
  I'll be his cousin. I'll be his wife.
• 1:10:05
  So what they do is when it's time for the creative stuff π is
• 1:10:09
  in front. When it's time for money π
• 1:10:11
  disappears and he leaves his sister there because she is a
• 1:10:18
  shark. She's the one that handles the
• 1:10:19
  money conversation. And so long as Jessa is talking
• 1:10:24
  to the client about money pie no go answer call.
• 1:10:28
  He made a YouTube video where he spoke about it.
• 1:10:29
  He will not answer his call. His sister, once the sister says
• 1:10:33
  and we finish money good pie will start answering
• 1:10:36
  conversation again because him he doesn't like money matter.
• 1:10:41
  So he actually is a valid strategy.
• 1:10:44
  It's a very, very valid strategy.
• 1:10:46
  OK, so then when you decide on the credit, we agree how much is
• 1:10:51
  the deposit then? No unprincipled concessions.
• 1:10:55
  If somebody is going to buy things on credit, we'll make
• 1:10:58
  sure that they pay full price. In my own opinion, make it more
• 1:11:02
  than full price. There's an accounting reason for
• 1:11:06
  that, because when you give people credit, it's like you
• 1:11:09
  borrowing their money. You borrow somebody money, you
• 1:11:12
  are losing money. So there's an accounting reason.
• 1:11:15
  I'm not smart enough to understand the math.
• 1:11:17
  I just know that there's an accounting reason why.
• 1:11:19
  So they want a discount. They'll pay full price or more
• 1:11:21
  than full price. Then what is the deposit?
• 1:11:24
  Are they dropping 30%? Please don't collect only 30%.
• 1:11:28
  Collect 50%, collect 80%. Then I agree on the payment
• 1:11:34
  terms. When are we paying back month
• 1:11:35
  ending? What does month ending mean?
• 1:11:37
  In my own opinion? Set it as a policy.
• 1:11:40
  Decide yourself that month ending for you one moment.
• 1:11:49
  OK, sorry about that. There was someone knocking on my
• 1:11:51
  door, so I had to go and attend to that.
• 1:11:54
  OK, so I think I've said pretty much everything that needs to be
• 1:11:58
  said, so no point in summarizing.
• 1:11:59
  Anyway. I can't remember where I was in
• 1:12:01
  the summary. So those are the things that I
• 1:12:04
  wanted us to talk about today. If you're facing any of these
• 1:12:07
  challenges in your business in particular, and please reach
• 1:12:09
  out. Like I said, call me, send me a
• 1:12:11
  text message, send me a WhatsApp message on 08064662140.
• 1:12:18
  I would love to chat with you. Don't worry if I sound
• 1:12:20
  expensive, I'm reasonably priced.
• 1:12:22
  Apart from that, I answer one question for free for every
• 1:12:25
  single person. If we agree on the time, let's
• 1:12:28
  try and make that time happen before you reach out.
• 1:12:30
  Please download Telegram on your phone.
• 1:12:32
  The conversation will be recorded.
• 1:12:34
  That will be your personal podcast so you have the audio.
• 1:12:39
  You'll be able to listen back to it.
• 1:12:41
  For those of you who we end up having paid consultations, paid
• 1:12:46
  engagements, I create summaries minutes after our sessions and
• 1:12:52
  then also create action plans before the free calls.
• 1:12:54
  I'm sorry, it's just a lot of work.
• 1:12:55
  I'm not going to do that. That's why we're going to have
• 1:12:57
  the audio recording. So thank you very much for your
• 1:13:00
  time and attention. For those of you who are
• 1:13:02
  listening for the first time, please subscribe and then also
• 1:13:05
  tell people about the show as you know where you can support
• 1:13:07
  me. So thanks for your time and
• 1:13:09
  attention. I will catch you all some other
• 1:13:11
  time.