Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Turning Your Expertise into Extra Income: The Plan B Blueprint

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Turning Your Expertise into Extra Income: The Plan B Blueprint · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:01
  Hello and welcome to the show. Today's episode is being
• 0:04
  recorded at my desk and it's a full house just in case we have
• 0:07
  the usual interruptions in the background.
• 0:09
  If this is your first time listening to the show, the goal
• 0:12
  of this podcast is free business education, so you're in the
• 0:15
  right place. And by the time we're done,
• 0:18
  please share, promote and talk about the show so that your
• 0:20
  friends and family members in Nigeria and abroad can benefit
• 0:24
  from all the issues that we tackle over here.
• 0:27
  They can do that by subscribing on Spotify, YouTube, Apple or
• 0:31
  whatever player of their choice. And if you in particular have
• 0:35
  any sales or marketing questions, then bring them to
• 0:37
  me. You can SMS or call or WhatsApp
• 0:41
  me on 08064662140. Today I want us to look at some
• 0:50
  business ideas. And, you know, all this talk
• 0:52
  about Plan A, Plan B, because somebody called me on the radio
• 0:57
  show, the one that I have on Radio Maria, and we had quite a
• 1:00
  discussion over there. In fact, some people even called
• 1:02
  in to give their own opinions. And I figured, you know, it's a
• 1:06
  very good thing to talk about over here today.
• 1:10
  So let's get on with this whole Plan A and Plan B thing.
• 1:14
  A Lady Dorcas, she called in and she wanted a business idea for a
• 1:21
  Plan B OK, No, she didn't call in.
• 1:22
  She sent an SMS, so she wanted the business idea for Plan B and
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  her conditions were as follows that it has to be something
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  that's in her area and let's see what else.
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  OK. I think those, I think that was
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  the only condition that was attached.
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  So remember, she says she wants a Plan B and her Plan B has to
• 1:42
  be in the same area that she is. And unfortunately, there wasn't
• 1:46
  much more detail after that. And this is one of the reasons
• 1:49
  why not just on the radio show, but over here on the podcast,
• 1:53
  that's for those of you who reach out to me on WhatsApp.
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  I mean, some of you just ask questions and you don't have a
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  lot of context behind it. And, you know, actually need
• 2:02
  more context because I noticed that some of you that ask a few
• 2:05
  questions and then you just tune out.
• 2:07
  You know, I'm not asking you questions because I don't have
• 2:10
  anything else better to do with my time.
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  But The thing is, if I'm going to give you an answer that is
• 2:16
  relevant to you and is useful to you, it's applicable in a
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  particular context, I'm going to have to know some more.
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  So you can't just reach out and say I'm looking at the Plan B.
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  The Plan B must be in my area. You know, I don't know what your
• 2:30
  plan A is. I don't know what you're doing.
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  I don't know what your area is. In fact, I also wanted to know
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  why must it be in your area? Is it something with, you know,
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  supervision you want to be around so that you can
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  supervise? Because there's some people who,
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  you know, in the real estate space who say don't buy anything
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  that is not in your backyard. You know, in other words, if you
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  live in Lagos on the mainland, don't buy real estate that is in
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  Lagos in Lucky, you know. So that's the kind of idea that
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  if you live on the mainland, buy real estate on the mainland.
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  So you know, anything, shop, shop, you can just dash there
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  and go and see, you know, how far out my house, that kind of
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  thing. So those were the sorts of
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  questions that follow up questions I would have asked,
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  but of course you didn't provide any more details even though I
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  asked on the air for not just her, but for other people, like,
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  OK, these people you sent in questions.
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  I need some more context. I need some more info, you know,
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  send a WhatsApp, you know, but they didn't.
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  So I just tackled it anyway based on the limited assumptions
• 3:27
  that I had. So yeah, why mostly being in
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  your backyard? Why mostly being in your area?
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  Which area are you at? You know?
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  So, yeah. So if you do reach out, please,
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  the more details you can, you can give me for your questions,
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  the better. So this whole thing of Plan B
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  and now said lots of us actually should be looking at our plan A
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  because there are lots of people who, you know, you're already
• 4:00
  doing something. Now you think the thing you're
• 4:03
  doing is not sweet or the thing that you're doing is not
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  bringing in the kind of money that you like.
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  So therefore, you're now thinking of Plan B, which is in
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  another space, another industry, another XYZ.
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  But I firmly believe, especially for those of us who are fresh,
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  we're new in this whole business thing, good business ideas can
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  flow from your Plan A. Let me repeat, you're currently
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  doing Plan A Plan A is not sweet.
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  Plan A is not giving you money or Plan A does not have room for
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  career progression or for, you know, whatever.
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  Good ideas can come from Plan A, and This is why good ideas can
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  come from the Plan A, the thing you're currently doing, because
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  the thing that you're currently doing, you have some familiarity
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  with that thing. You already know it.
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  Nobody has to teach you. You don't have to go and spend
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  time and money trying to learn something else.
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  You already have some level of expertise assuming you are a
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  diligent somebody. If you're not a diligent person,
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  then you know really I can't help you because it doesn't
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  matter what advice I give you. The way you're carrying your non
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  diligence in your plan A, you would transfer it to your Plan B
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  and any which way you just mess yourself up.
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  So I'm assuming that you're diligent and if you're diligent,
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  you would have carried small expertise no matter how small.
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  Then most importantly, you have knowledge of the customer base
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  in your plan A because after all, is there something that
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  you're doing right now, the job that you're doing right now, the
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  hustle that you're doing right now?
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  So you already know the customer base or the stakeholders like
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  you know the every, every, You have a sense of it.
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  Then finally, you have some credibility or you already have
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  some reputation in this plan A. Because of that, when you are
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  fed up with your Plan A, it makes more sense to say, OK,
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  this skill set that I have, this knowledge that I have, this
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  familiarity that I have, the stakeholders I know, this
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  customer base, blah, blah, blah. What other business
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  opportunities can I look for that are directly tied into this
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  Plan A? Because the problem we're
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  looking for a Plan B that is in a new space is you will have to
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  go and learn a whole new bunch of stuff.
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  You will spend time, you will spend money.
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  It will take you a while to get expertise in this new field that
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  you're branching into, the customers, this space you're
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  branching into, you do not know and then you have no
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  credibility, you have no name in that space.
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  So this is the example that I gave on the show.
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  And then for somebody else who called after her.
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  In fact, we even examined ourselves.
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  But let me just give the example that I gave on the show.
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  So this was the example. So the example I gave was take
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  me as a baby lawyer back in my baby lawyer days.
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  Now let's say I started working for one senior, you know, back
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  then also used to call them, you know, your senior colleagues.
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  So let's say I started working on one senior and the senior was
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  paying ME70K. And because of that I'm not
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  happy. Oh, by the way, I graduated a
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  while ago. You know my, my trick number is,
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  you know, 1996. So you know that graduated a
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  while ago. So back then 70K would not have
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  been sweet, but 70K would not have been entirely rubbish.
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  I know that now 70 K is minimum wage and it is rubbish but I'm
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  just saying for when I graduated 70K yeah it was not correct boss
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  not too bad. So my senior is fame is 70 Ki
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  begin to grumble and I'm thinking Oh my guys do Plan B.
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  If my Plan B now remember I'm a baby lawyer.
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  I graduated in law. I've been working here for like
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  2-3 years. If my Plan B is now that I want
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  to go and do tailoring, fashion design or photography or
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  whatever, I'm going to have to learn a new skill.
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  I will have to pay someone or invest my time in learning
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  fashion design or learning photography.
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  Assuming it's not something that comes in it because you know,
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  some people have the talent as in you know, follow com as in as
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  they are born. You just have some talent.
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  So assuming it's not one of those in late talent things, you
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  now have to get familiar with something else.
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  You don't have to learn a new industry.
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  You now have to learn a new set of customers, a new set of
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  stakeholders, a new set of expectations.
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  You're now trying to build reputation.
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  And these things take time. And when you're frustrated in
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  your plan A and you're trying to look for Plan B, time and money
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  is precisely the thing that you do not have.
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  If you're frustrated as a baby lawyer, you're actually trying
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  to see how can I quickly, you know, be raising this my level
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  of income from 70K and adding other things.
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  Not that I'm planning to move on to something else.
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  But then the thing I have chosen requires another incubation
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  stage of maybe 2-3 years of learning or something or
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  establishing a name before you start seeing money.
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  I hope you guys have flowing, you know, hope you guys are
• 9:09
  following, following me. If you're not, I give my phone
• 9:13
  number at the beginning of every episode and at the end of every
• 9:16
  episode. So send me a WhatsApp message or
• 9:19
  send me an SMS. You say, bro, I had this
• 9:21
  episode. This thing you say is a lie.
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  I know I agree and you know we'll have a talk about it and
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  in fact it might even inspire a follow up episode.
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  So me now as a baby lawyer, any 70K, are frustrated that my
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  senior is not treating me well, he's not paying me well.
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  Instead of looking at another industry, it makes more sense to
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  now see what other opportunities given the expertise I already
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  have, the knowledge base I already have, the credibility
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  and reputation I already have. What avenues for extra income
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  can I pursue First? I Max it out before I now start
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  stretching and say OK, I'm going to go and do Plan B.
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  And so the lady on the air, well of course she didn't give me
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  details, but on the air this was just me freestyling.
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  Now these are some things that as a baby lawyer I would look at
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  CAC registration. Lots of people want to start
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  businesses. If my OGA is not treating me
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  well in the office, nothing stops me from doing PP.
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  You know, in law and in medicine, PP, we call it private
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  practice. And I think, yeah, it's private
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  practice. That's what we used to call you
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  back in a day. I don't know about now.
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  So you're my organ. No problem.
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  It doesn't mean that on my own time I can't be coordinating one
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  or two horses. So we used to call it PP back
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  then. Lawyers will be doing you work
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  for yoga, but you now do private practice.
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  Medicine is the same thing. You have yoga, but you also be
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  doing your side, your PP, your cyber practice, private
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  practice. So I can be doing CAC
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  registration for people work for my yoga from 8, leave the office
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  by 5:00 and then by 6:00 in the evening I can start looking at
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  other people's business ideas, preparing the articles and
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  memorandum of association, all the paperwork, you know, all the
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  everything that we need to do. Prepare it on my own time so
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  that my girl won't come and say that.
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  Look, I'm paying you 70K so I expect for you to work for me
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  and not to do anything as in this one.
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  I'll be doing it on my own time so nobody can quarrel me that.
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  Yes, it's PP, but I did it when I went home.
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  I didn't do it in your office, I didn't use your material.
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  So you can't answer me. This is my own, my own side of
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  my own side, something. So as a baby lawyer, you can be
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  doing CAC registration for people and there's no problem.
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  There's some businesses or there's some people who like to
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  do who need legal research. Nothing stops you from doing
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  legal research on your own time. Even if you're going to use your
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  gas. Please, you know, some seniors
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  are are OK. Some seniors are cool.
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  You can tell them that. OK, senior, you know, to be
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  honest, there's some private whatever you know that I'm
• 12:04
  pushing and I beg. I'll be coming into the office
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  on Saturday. You know, if there's anything
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  you want me to do, I will do. But I also spend like one or two
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  hours, I'll use the office library because I'm trying to
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  tidy up one or two things. If you don't believe me, my
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  cousin who is currently a senior advocate of Nigeria, he when he
• 12:22
  was with, how was this guy's name, another senior advocate, I
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  can't remember his name. The senior advocate didn't mind.
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  You know, he knew that everybody has one or two things that you
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  know they are pursuing, but he didn't mind.
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  OK, no problem. You guys want to come in on
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  Saturday? So long as you make sure we're
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  done with this matter, this matter, this matter, sure, no
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  problem. And that's how my cousin and a
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  bunch of other people, that's how they started.
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  You just have natural power. Your senior, you're straight up
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  with your senior and you make sure that you deliver whatever
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  it is that you guys are working on.
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  And some of them are cool like that, Sure, no problem.
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  You want to come on Saturday, You want to come on Sunday?
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  No problem. You want to use the library?
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  No problem. So legal research, that one is
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  also there. Then there's some people that
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  need some help when it comes to contract drafting and review.
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  You know, I've signed something, I've signed Tennessee agreement,
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  I've signed non disclosure, I've signed whatever.
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  We are all the lawyer. Please let me look at it.
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  When you look at it, I'll give you 50 K Oh, sorry, I don't know
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  how much you know, people charge now.
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  So I'm still thinking, you know, like back when I graduated.
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  So if you looked at something and somebody gave you 50K, you
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  know, back when I graduated, it wasn't a bad deal.
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  But now I don't know how much lawyers will charge.
• 13:34
  So please don't say I'm telling lawyers to be collecting 50K.
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  I'm using the time off. Like I said, my my trick number
• 13:43
  is 1996. So that's the idea I'm using to
• 13:46
  tackle this question. Then let's see what else.
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  One idea I came off from was tutor that's teaching people.
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  There's a law school in Wari in Abuja, there's a law school in
• 13:59
  Inugu, law school campus in Inugu, law school campus in
• 14:02
  Lagos and they should be for Abuja, Kano, Inugu, Lagos.
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  Yes. So you can be going down by
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  teaching people. OK.
• 14:16
  Are you getting ready to prepare for the BI exam?
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  That's the big exam that we write before they give us our
• 14:23
  qualification, our qualification, our license so
• 14:26
  that we can practice law. You don't want me teaching
• 14:28
  people. So those are the examples that
• 14:31
  are just free. Start on the air.
• 14:32
  So you can see now how your Plan B can take advantage of your
• 14:37
  expertise and your knowledge that you have and the reputation
• 14:41
  that you have in your Plan A for that kind of thing.
• 14:45
  Now as a baby lawyer, I don't have to learn anything new.
• 14:49
  I don't have to meet anybody new, I don't have to network in
• 14:54
  any new circumstances. I don't have to, you know, there
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  is no learning curve. I don't have to learn, practice
• 15:01
  anything, build expertise or whatever in the new industry.
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  All I need to do is just to step aside small after hours and I
• 15:10
  can start building my plan BI, repeat.
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  Too many people are looking for a Plan B that is totally
• 15:20
  different from your Plan A. You're making your journey
• 15:23
  longer than it need be. Now, the next person that called
• 15:27
  after we had discussed this matter, the ladies in the
• 15:29
  poultry business in Lagos, that's right in Abuja.
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  Now for her, the poultry thing has become, you know,
• 15:38
  hyperinflation now. So cost of chicken has gone up,
• 15:41
  you know everything. So basically the business was
• 15:43
  good, but with the way the economy has turned recently is
• 15:47
  no longer a good hustle for her because the cost of maintaining
• 15:50
  this chicken and everything, the cost price that she wants to
• 15:52
  sell it at people in the market are not buying.
• 15:55
  If our people in the market are owing her money, they're holding
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  her like 150 K. That's what she said.
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  And then she has chickens at home.
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  That is just inventory that sitting I do that she can't sell
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  because, you know, I mean, think about it.
• 16:09
  If you raise this chicken and you do the math and it's like
• 16:12
  raising these chicken cost you, but I'm not in the chicken space
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  so I have no idea. I'm just making stuff up.
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  So please, nobody should crucify me.
• 16:19
  So if it cost you, let's say like 7-5 to raise one chicken,
• 16:24
  it doesn't make sense If you're not going to take the chicken to
• 16:26
  the market and you sell it at 76, I mean like, how can you
• 16:28
  profit 100 naira on top each chicken?
• 16:30
  Doesn't make sense. So I don't know what adequate
• 16:33
  profit margins are. But you know, in my own opinion,
• 16:36
  I mean my own guess, if it cost me like 7 K to raise each
• 16:40
  chicken to majority, you know, chicken feed plus this plus this
• 16:44
  plus that, plus plainly the boys who work for me, you average out
• 16:48
  the amount costing me like 7 K before me.
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  I think the least I'll try and sell my chickens would be 10K at
• 16:53
  least maybe 1:15 if I won't try for 15K.
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  So let me try and at least double the money that goes into
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  it. So because of that, now she says
• 17:04
  she's looking for Plan B, another industry.
• 17:08
  So now told her look Madam, based on what we discussed
• 17:11
  before is the same thing over here.
• 17:13
  If you're going to look for Plan B, 'cause you mentioned some
• 17:16
  other industries, all these other industries is a new space.
• 17:21
  You don't have familiarity. There you go.
• 17:23
  You have to go and learn and you have to pay somebody to teach
• 17:26
  you or you have to go and be doing apprenticeship or
• 17:28
  research. You will take time to build up
• 17:31
  expertise. You will take time to learn a
• 17:34
  whole new set of customers and their expectations and you will
• 17:39
  take time to build up your credibility and reputation.
• 17:41
  And right now people are owe you 150 K.
• 17:45
  You have inventory that you have a Max you have a maxed out so so
• 17:49
  inventory that you haven't sold a Plan B in a new whatever Madam
• 17:55
  is too much stress. So I told her, you know what
• 17:59
  give me some time. Let me think the next episode
• 18:01
  I'll come back with some more ideas.
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  That's how we ended. She now called the phone the
• 18:05
  very next person I called said, bro what you said is correct.
• 18:10
  I agree with you, instead of her looking for XYZ industries.
• 18:15
  I can't remember what she mentioned.
• 18:16
  He said this woman is better off instead of selling so I can't
• 18:21
  remember the names. The one that you sell for meat
• 18:23
  is called something Abby's brought broiler.
• 18:25
  Abby. She said inside this woman
• 18:26
  selling broiler for meat, she should now switch and be selling
• 18:30
  layers for eggs. The layers will be laying the
• 18:35
  egg. You'll be selling the egg after
• 18:39
  a while when the layer has passed his due date.
• 18:42
  You can now slaughter that one. And I said, ah Madam, thank you
• 18:45
  very much. Perfect example for somebody who
• 18:49
  has been railing raising broilers for meat.
• 18:53
  Thinking of Plan B in farming. It doesn't make sense.
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  In my own opinion, you're better off doing Plan B.
• 18:59
  That will take advantage of your familiarity, your expertise,
• 19:02
  your knowledge, your skill set, your credibility, your
• 19:05
  reputation that you already have now in the chicken space.
• 19:09
  So if you're now raising layers and selling eggs, the people in
• 19:14
  the market, they already know you as a chicken woman.
• 19:17
  So to make the step from broilers selling chicken broiler
• 19:23
  meat to now chicken layer eggs, it is a small step.
• 19:29
  People already know that when they see you, they see chicken.
• 19:35
  You already know how to raise chickens.
• 19:38
  You already know the diseases that chickens face.
• 19:41
  You already know the things that chickens need to eat.
• 19:45
  You already have an idea of who are the market dealers who are
• 19:48
  dealing in chicken kinds of, you know, chicken related stuff.
• 19:53
  It is a small step. You can see quicker returns.
• 19:58
  Your Plan B doesn't always have to be something entirely
• 20:03
  different from your plan A. So please.
• 20:08
  Let's bear that in mind. Anyway, apart from that
• 20:12
  brilliant example later on, I was now thinking of the matter
• 20:15
  and I came up with some other stuff you can do some value add.
• 20:24
  Abby is that value add and I can't remember his value add
• 20:26
  anyway. But bottom line is this is
• 20:28
  something else I thought of. OK, selling the chicken hole in
• 20:31
  the market. People are no longer buying
• 20:33
  because it's too expensive. So I thought about it.
• 20:36
  What if you train up your boys small and then you guys start
• 20:41
  butchering the chicken in your own place and then you package
• 20:45
  it in your own place and then start selling the parts instead
• 20:51
  of the whole chicken selling chicken parts, you might be able
• 20:54
  to do that as a profit. And my own justification now was
• 21:01
  instead of spending time at resources lending a new trade,
• 21:05
  all she has to do now really is look for someone to train her
• 21:09
  boys quickly on this is how you butcher chicken.
• 21:11
  And then all she has to do now is to buy a deep freezer that
• 21:15
  can be done in a shorter period of time and you can now
• 21:18
  transition into something else. And I made a whole list of other
• 21:22
  stuff. I can't remember where I kept
• 21:24
  those notes. But anyway, I'll get to it later
• 21:26
  on and then we'll share that on, on the on the podcast.
• 21:29
  But that is also another example apart from the baby lawyer
• 21:32
  example to show how your Plan B doesn't have to be entirely new.
• 21:40
  So you know, of course, everybody does whatever it is
• 21:43
  they want to do. So if you insist you want to go
• 21:44
  into a new industry, then you don't find, I can't force you.
• 21:47
  But for quick, quick, quick, quick, quick results, your Plan
• 21:51
  B should be something that is directly tied in to your Plan A.
• 21:56
  What you're doing now, because you have familiarity in this
• 22:00
  space, you've built some expertise in this space for the
• 22:04
  last 23456 years you've been doing it.
• 22:07
  By the way, the woman I was doing chicken, she's been doing
• 22:09
  it for like 10 years. Then you know the customers, you
• 22:14
  know the stakeholders. Like this woman in particular,
• 22:17
  she already knows the market, people, market association, the
• 22:19
  market, every, every. You know the customers, you know
• 22:23
  the stakeholders, you have some credibility, you have some
• 22:26
  reputation. Everybody knows that is Madame
• 22:30
  that we've been dealing with chickens for the last 10 years.
• 22:32
  If she's coming now, she wants to start dealing in Google, for
• 22:35
  instance, vegetable. It's, you know, maybe it's not
• 22:41
  too much of A stretch, but it's a new thing, you know, after
• 22:45
  start making inroads into the Google networks in the market.
• 22:48
  But if they know you as chicken woman for 10 years, I am going
• 22:51
  to do Plan B Trying to say I'm moving from broiler, excuse me,
• 22:56
  from broiler to layers. So much smaller step.
• 22:59
  So that's all for today folks. I hope I've been able to
• 23:03
  convince and not confuse any of you listening.
• 23:06
  But like I said, if you have any questions, especially if they're
• 23:10
  sales and marketing related, all you have to do is call SMS or
• 23:13
  WhatsApp me on 08064662140. Let me know what you think.
• 23:19
  Let me know what you disagree with.
• 23:21
  So thank you very much for your time and attention.
• 23:23
  I'll catch you, dear listener, at the next episode.