Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / How to Get Business Equipment When You’re Broke

Transcript

How to Get Business Equipment When You’re Broke · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:00
  Hello and welcome. Apologies for the noise in the
• 0:04
  background. For those of you who are
• 0:07
  listening to the show for the first time, my name is Tavishima
• 0:10
  Ayede. I'm a former lawyer turned
• 0:11
  business consultant. And what I do here over on the
• 0:14
  podcast is solve business problems, especially problems
• 0:18
  that you can solve by looking for more customers, talking to
• 0:21
  more customers, and increasing the amount of money that you
• 0:23
  make on each particular customer.
• 0:26
  However, today the question I'm going to be looking at is how to
• 0:29
  buy equipment for your business when you don't have any money.
• 0:34
  Now, the reason why we're looking at this question today,
• 0:36
  even though it's not a sales question, is because even though
• 0:40
  my specialty is sales, because we don't have good content here
• 0:45
  in Nigeria where radio show hosts or podcast hosts are
• 0:49
  tackling business questions. I find that lots of people who
• 0:52
  listen to the podcast, you know, whether it's my area of
• 0:55
  specialty or not, you know, Chad was sending a question because
• 0:58
  to be honest, where else are they going to send another send
• 1:00
  the question to? I mean, who else is doing this
• 1:03
  sort of thing that I'm doing over here on the Internet?
• 1:06
  So that's the reason why we're tackling this question today,
• 1:08
  even though it is not my area of specialty.
• 1:12
  However, if you'd like to connect with me because you have
• 1:14
  one or two business questions you need another brain to help
• 1:18
  you think through things with, then you can call.
• 1:21
  Send me a text message or a WhatsApp message on 08064662140.
• 1:30
  Don't worry if you think I sound expensive, that's not a problem.
• 1:33
  I'm reasonably priced. However, I answer questions for
• 1:36
  free. Just make sure you let me know
• 1:39
  in the very first text message, on the very first WhatsApp
• 1:42
  message, the very first phone call, just say, hey, bro, are
• 1:45
  you there? Love what you do?
• 1:47
  I'm looking for free advice and then I'm going to answer one
• 1:49
  question and one question only. So think really hard about what
• 1:53
  your one question is going to be and to get the best of our time
• 1:57
  together. Just make sure it's a question
• 1:58
  that relates to sales. All right, now back to the
• 2:01
  question. How to buy equipment for your
• 2:03
  business when you don't have any money.
• 2:07
  So this was a question I received from your former based
• 2:10
  in Abuja. The first time we're in touch,
• 2:13
  Ivoma wanted to know how she could buy equipment for her
• 2:17
  fashion business through Easy Buy.
• 2:21
  Easy buy nowadays is what I think we would have called hire
• 2:26
  purchase back when I was in secondary school, which is
• 2:29
  basically you want to buy something, you don't have 100%
• 2:31
  of the money and then you come up with an arrangement for how
• 2:33
  you can put a deposit down and then pay the rest of our time,
• 2:36
  you know, stuff like that. So back when I was a secondary
• 2:40
  school, you know, business studies and all that, I think
• 2:42
  back then it used to be called hire purchase, but now people
• 2:45
  call it easy buy. What else?
• 2:47
  Buy now, pay later. You know, it has different
• 2:51
  names. So she wanted to know how to
• 2:53
  acquire a machine for her fashion business.
• 2:57
  And obviously the reason why she needed to do that is because,
• 3:00
  you know, in the fashion space, you know how it is now, you buy
• 3:02
  sewing machine, sewing machine. Then you also buy stoning
• 3:06
  machine, the one that will put all those gems and shiny stuff
• 3:09
  on the clothes. Then you also buy what else, you
• 3:13
  know, ironing machine, you know, compressing machine.
• 3:15
  This machine, that machine, as in the machine is plenty Shah.
• 3:19
  And of course, all those things cost, well, not too expensive,
• 3:23
  you know, for 405500K, you know, that kind of thing.
• 3:26
  But yeah, might need quite a bit.
• 3:30
  So yeah, that's how Ifoma and I met.
• 3:34
  But luckily, but the second time we spoke, she said, ah, there's
• 3:36
  no need. I said there's no need.
• 3:38
  Why? She said because I have some
• 3:40
  good news. So let me hear the good news.
• 3:42
  And she said that she was able to make 5 items, 5 dresses, and
• 3:46
  she was able to stone them and that's, you know, put all the
• 3:49
  fancy jewels on them and stuff like that.
• 3:51
  And if she's able to sell the five completely, she will get
• 3:54
  one point something M. If she gets that one point
• 3:57
  something M, she'll be able to use that to buy 2 machines.
• 4:01
  And I said perfect. And I'm really glad you said
• 4:04
  that because that was one of the things I was going to suggest.
• 4:08
  And she said, yeah, that the reason why she's doing that is
• 4:10
  because she doesn't want to deal with the hassle of owing people
• 4:14
  money and, you know, things like that.
• 4:16
  So that's the reason why she did that way.
• 4:17
  That's very, very good. And I'm glad that she did that.
• 4:20
  And that's going to be one of the options that we'll look at
• 4:22
  today on how to buy equipment for your business if you don't
• 4:25
  have any money. Now, traditional options, first
• 4:28
  of all, we start with savings. And if you want to save towards
• 4:33
  equipment, you need to create a budget.
• 4:34
  How much is each particular machine, how many do you need
• 4:37
  and all those sorts of things. And then start working towards
• 4:39
  it, especially if you're an employee.
• 4:41
  So you can start saving over time.
• 4:43
  Now, the second traditional option that is bootstrapping is
• 4:46
  precisely what? Precisely what?
• 4:50
  Sorry, I gave the wrong name. I'm sorry, my name is Favour.
• 4:53
  Actually, yes, yeah, Favo. So that's actually what Favo
• 4:58
  did, bootstrapping from business.
• 5:00
  Now bootstrapping just means you make revenues from your business
• 5:03
  and you are saving from those revenues and employ the profits
• 5:06
  back into the business to acquire whatever it is you want
• 5:09
  to acquire. So that is bootstrapping.
• 5:11
  So that's what she did. That's the additional route as
• 5:13
  well. Then another old school
• 5:15
  traditional route is to raise money, excuse me, from friends,
• 5:19
  family members and associates. So those are people who believe
• 5:22
  in you and people who are willing to support you.
• 5:25
  You raise some money. And my cousin who is into
• 5:29
  fashion, that's how she got started actually.
• 5:31
  You know, talk to uncles and aunties, talk to this person,
• 5:33
  talk to that person. Then the fellow she was dating
• 5:35
  at the time. Now her husband also dropped
• 5:37
  some money down and that's how she got into this space.
• 5:41
  So this is one of the traditional routes.
• 5:43
  Then in the podcast was spoken a lot about business loans from a
• 5:47
  bank or from a microfinance bank.
• 5:50
  The only problem with that is you have to write a business
• 5:52
  plan. So for those of you who don't
• 5:54
  like writing things down, this is going to be a problem for you
• 5:57
  because you need a well thought out business plan.
• 6:00
  And the focus of the business plan basically will just be to
• 6:02
  say who are you? What is the business idea?
• 6:04
  What do you want to do with the money and how are you going to
• 6:07
  pay back this money with interest.
• 6:09
  So that's what the document is going to outline basically so
• 6:13
  that the bank can say, OK, you know what, I can give money to
• 6:15
  this person. Then on my radio show in
• 6:19
  particular, I did episodes on Islamic banking options because
• 6:24
  that is a way to acquire your capital assets, acquire your
• 6:27
  machines in without how I put it, without paying too much
• 6:32
  interest. Let me put it that way.
• 6:34
  And no, you don't have to be a Muslim to take advantage of
• 6:36
  these sorts of options. I first discovered Islamic
• 6:39
  banking as a young wedding photographer.
• 6:42
  Yes, I my background is in law, but eventually I was in the
• 6:47
  event space. So I was a wedding photographer,
• 6:50
  honored to acquire some new equipment.
• 6:52
  And so I went in to talk to a bank at the time was Sterling
• 6:56
  Bank. And yes, some of you are
• 6:57
  shocked, Sterling Bank, yes, Sterling Bank.
• 6:59
  I didn't know that Sterling Bank has Islamic financing options.
• 7:03
  So I got to the, the office in area area 8.
• 7:10
  Is that area 8 next to the cathedral, excuse me, next to
• 7:14
  the pro cathedral in Abuja, the Catholic Church.
• 7:17
  So next is the cathedral. So I went there, they directed
• 7:20
  me upstairs. I spoke to somebody in the
• 7:22
  marketing department and started looking at what kind of options
• 7:27
  the Islamic banking would would cover.
• 7:31
  So through Islamic products like this, you're able to buy
• 7:35
  equipment. And this is how it works.
• 7:38
  The bank, once you identify who the seller is, the bank enters
• 7:42
  into an agreement with the seller and then they buy the
• 7:46
  equipment in the bank's name. Then the seller has been paid
• 7:49
  off. You now have a relationship with
• 7:52
  the bank, so you'll be paying off the money, you know, daily,
• 7:55
  weekly, monthly, yearly, whatever it is, periodically,
• 7:58
  Sir, you're paying off the money.
• 7:59
  After a certain while, you've paid off everything.
• 8:01
  The bank now hands it over to you.
• 8:03
  So these are options that are available under Islamic banking.
• 8:07
  So if you're curious, just like I was, you just walk into any
• 8:10
  bank. So I don't know about now, but
• 8:12
  at the time when I checked many, many years ago, Sterling Bank
• 8:16
  had an Islamic, had Islamic banking offerings, then this Taj
• 8:20
  Bank. OK, well, I don't know if Taj
• 8:23
  still exists THA Taj Bank and you know, all these other banks.
• 8:26
  So walk in and have a chat. By the way, I'm not affiliated
• 8:30
  with any of these banks. They're not paying me any money.
• 8:34
  I wish somebody would introduce me to one of these banks so that
• 8:37
  they can start paying me money to advertise on their behalf.
• 8:40
  But basically the reason why I'm pointing that out is please take
• 8:43
  responsibility and verify whatever information that you
• 8:46
  hear here. Don't just take it.
• 8:51
  That old Tavish man said something.
• 8:52
  Therefore it's your truth. Go and verify because you are
• 8:56
  responsible for whatever information you act upon.
• 8:59
  So that's my warning. Then investors, also a
• 9:03
  traditional way to raise money for your business.
• 9:08
  Let's see. OK, that will also require a
• 9:10
  business plan because investors want to see feasibility.
• 9:13
  Feasibility just means can this thing work?
• 9:17
  What is this idea? How will this thing work?
• 9:20
  Is there a market for it, blah, blah, blah.
• 9:22
  And then investors also want to see a timeline for returns
• 9:25
  because they want to know when they're getting their money
• 9:27
  back, how they're getting their money back.
• 9:29
  Then another thing to watch out for for investors is because you
• 9:32
  will get business partners by force, by force.
• 9:37
  And when I say by force, by force, I mean by force by force.
• 9:40
  Somebody's not just going to call you and then hand over lots
• 9:45
  of, lots of millions like that with no strings attached.
• 9:49
  You'll find that usually they want a stake in your company,
• 9:53
  you know, so essentially you get a business partner by force.
• 9:56
  By force, except if somebody gives you the money as a loan,
• 9:58
  like here, take this one M use it for the business.
• 10:01
  You know, when you blow, you know, give me back 2.5 or
• 10:04
  something like that. So that one is, is a debt.
• 10:09
  Yeah, it's a loan is a debt. But if you're looking for
• 10:11
  investment, investment proper, just know that you're going to
• 10:14
  enter into a forced business marriage.
• 10:16
  So make sure that you properly vet the investors that you're
• 10:19
  talking to, make sure these are people that you're comfortable
• 10:22
  hanging around or that you like spending time with.
• 10:25
  And make sure that these are people whose opinions that you
• 10:27
  value. Because when somebody gives you
• 10:29
  10 M and say, go ahead my song, go and start tomorrow, the
• 10:32
  person is calling you to say, I think we should do like this.
• 10:34
  I think we should do like this. And you want to start saying,
• 10:36
  respectfully, Sir, there's no respectfully nothing.
• 10:38
  You've collected money. So this is also another reason
• 10:41
  why it's handy. Excuse me, real useful and
• 10:47
  advisable to have lawyers, you know, throughout this whole
• 10:50
  process just so that there's someone to advise you to make
• 10:53
  sure that things are very, very clear.
• 10:55
  What are we doing? Is this in partnership or is
• 10:58
  this money dash or is this money a loan?
• 11:01
  Then what are the promises that we're making to each other?
• 11:04
  What are the obligations that we have to watch each other, things
• 11:07
  like that. So it's nice to involve a lawyer
• 11:09
  through all these. So investments, that's also,
• 11:12
  that's one of the options available if you want to buy
• 11:14
  equipment for business and you don't have any money, just like
• 11:19
  Favor Favor did when she reached out OSHA, I was very happy to
• 11:23
  hear that she had decided to bootstrap from her business.
• 11:27
  So sell items, take the profits, use it to buy the machines.
• 11:31
  The reason why, honestly speaking, right, the reason why,
• 11:36
  please pay attention, is because the easiest way to finance your
• 11:39
  business is from your customers. I repeat, of all these options
• 11:43
  that we're talking about so far, OK, let's remove savings, let's
• 11:47
  remove friends and family. So business loan, investor
• 11:51
  grants, crowdfunding, blah, blah, blah.
• 11:53
  The easiest way to finance your business is through your
• 11:56
  customers. Give your customers something
• 11:59
  happy, they'll be happy, they will give you money in return,
• 12:01
  everybody's happy. And then use that to finance the
• 12:03
  growth of your business. It's the easiest way.
• 12:07
  It is the easiest way also because the more time that you
• 12:11
  spend in this kind of activity will continue to grow
• 12:13
  yourselves. But then let's say you want to
• 12:15
  get a business loan from a bank. All the time you're going to
• 12:18
  spend in writing that business plan, talking to the bank
• 12:20
  manager, going to go and visit the branch office, you know,
• 12:25
  going to discuss your projections, this and this and
• 12:27
  that and that. All that time you're spending
• 12:29
  wouldn't necessarily grow your sales.
• 12:32
  Now, of course there'll be a time when it will be necessary
• 12:36
  for you to go get a business loan and you know, things like
• 12:39
  that. But in the beginning where you
• 12:41
  can if you are in favor situation and you want to buy
• 12:44
  machines for your business, but the machine no true cost.
• 12:46
  You know for 405500K you actually can come up with a plan
• 12:51
  to make it work like she did, which was she created 5
• 12:54
  garments. If she sells all of them, the
• 12:57
  money will be 1.2 something. She'll be able to buy 2 machines
• 13:01
  and she'll still have two. 100K remain.
• 13:04
  So that's the way forward. Then also for what grants?
• 13:08
  That's also another option because grants are available
• 13:12
  through their grants that are targeted at SMEs, women based
• 13:16
  companies, fashion sector, things like that.
• 13:19
  So grants are also good as well. Especially these grants are more
• 13:22
  or less dash, but when they dash you the money, you still have
• 13:26
  reporting obligations. So you have to report to the
• 13:29
  people who give, who gave the grant, you have to show them
• 13:32
  that you're using the money for the purpose that you collected
• 13:36
  the money, the money for. So these are some of the
• 13:39
  traditional options for those of you who need to buy equipment
• 13:42
  for your businesses. Now like I pointed out earlier,
• 13:48
  even though I gave my number 0806466 2140, I'll say again
• 13:57
  that I am not a fund, I'm not a a finance specialist, I'm not a
• 14:05
  grant writing specialist. I'm not excuse me, I'm not a
• 14:08
  consultant who writes business plans for people.
• 14:10
  So this is not my area of specialty.
• 14:12
  So even though I've given up my phone number, if you want to
• 14:15
  reach out to discuss a couple of general stuff, that's not a
• 14:18
  problem. Call me, send me a text message
• 14:20
  to me. I want that message.
• 14:21
  I'd love to chat with you. I like meeting listeners of my
• 14:25
  show. Then if you're worried that this
• 14:28
  guy sounds expensive, that's not a problem.
• 14:30
  I'm reasonably priced. Apart from that, I answer
• 14:32
  questions for free. Just let me know you're looking
• 14:34
  for a free session and then we'll tackle your one question
• 14:37
  that you have. Any other thing that will
• 14:40
  require us to go in depth, we'll have to set aside some time
• 14:42
  weekly, monthly, daily, hourly, quarterly.
• 14:49
  All right, then AI, artificial intelligence or augmented
• 14:56
  intelligence. Like I like to say now when lots
• 14:59
  of people reach out to me for these sorts of things, I say
• 15:04
  like, have you tried AI? And then someone idiot now reply
• 15:08
  back. He says he'd be like, say you
• 15:10
  like AI. I was really, really vexed.
• 15:12
  I was really, really mad. But I had to calm down and
• 15:15
  respond to the guy. But just so that you guys
• 15:18
  understand something, it's not as if I love AI.
• 15:21
  It's not as it's not as if I'm saying you should kill your
• 15:23
  brain. But think about this thing very
• 15:25
  logically. You're stuck in your business,
• 15:28
  right? OK, good.
• 15:30
  You're looking for a place to get free, easy advice, right?
• 15:33
  OK, good. No problem.
• 15:35
  What are you doing? You're reaching out to me.
• 15:38
  OK, No Allah, no problem. What is the difference in
• 15:42
  reaching out to me or just picking up your phone and
• 15:46
  reaching out to the AI tool? Let me keep quiet for two
• 15:49
  seconds so you can think about it.
• 15:51
  What is the difference in reaching out to me then reaching
• 15:56
  out to AI? The answer is there's no
• 16:00
  difference. You need help with an activity
• 16:03
  that we call ideation. In business circles, ideation
• 16:07
  just means I need to think of ideas.
• 16:10
  Right now my mind is blank. Blank slate, blank screen
• 16:15
  knotting on the cursor. Ideation.
• 16:20
  That's what you want to do. So the options are to look for a
• 16:23
  real human person like me who might not have your time or who
• 16:29
  wants to collect money from you. Now, do not deceive yourself.
• 16:33
  Yes, I help lots of people and I like to give advice.
• 16:36
  But if you think I'm not interested in your money, in
• 16:37
  fact, don't try me, offer me money 1st and say, oh, what
• 16:39
  happened? I'm interested in your money.
• 16:42
  I need your money. The AI tool cannot be bothered
• 16:45
  with your money. For now, these things are free.
• 16:49
  They're now your phone. When I tell you, oh, did you try
• 16:51
  AI? Let's look at what came up.
• 16:53
  You'll now be thinking in your mind or you now have the
• 16:56
  gumption to open your mouth and tell me you'd be like, say you
• 16:58
  like AI, my friend. Let's, let's, let's be
• 17:02
  reasonable here. Now the reason why I suggest
• 17:04
  going to go and look at AI tools because they're free, they have
• 17:09
  your time and they actually do come up with some good ideas.
• 17:12
  However, it is your own responsibility to look at all
• 17:15
  the information that is there, vet the information that is
• 17:18
  there, take action on the one that seems realistic, seems
• 17:21
  practical, stuff like that. And then ignore the ones that
• 17:25
  are clearly terrible ideas. You hear me?
• 17:28
  The fact that something comes up with bad ideas once in a while
• 17:30
  doesn't mean you disregard the whole thing.
• 17:32
  It's like me. You think every single idea I
• 17:34
  want to give you is a good one. Come on, I'm human.
• 17:38
  I don't know everything. And there's sometimes that I
• 17:41
  don't consider all the every single context, every single
• 17:44
  nuance properly. So there will be times and I'll
• 17:46
  say, give you some ideas that are bad.
• 17:48
  When that happens, what do you do?
• 17:51
  You just chalk it up, you know, to experience.
• 17:53
  You just say, oh, Tasha Madin you no reason.
• 17:55
  I'm you no reason I'm well, that's all.
• 17:58
  And then you move on. The one that I said that makes
• 17:59
  sense, you apply is the same thing.
• 18:03
  If the AI says something that no makes sense, hey, ignore.
• 18:05
  It's one of those things. The ones that makes sense, go
• 18:07
  ahead and apply. So use AI tools and let me give
• 18:11
  you an example. Let me give you a perfect
• 18:14
  example now about the situation. This is a simple prompt that I
• 18:16
  came up with. I just opened Gemini and I told
• 18:19
  Gemini this question. I said, dear Gemini, I'm the
• 18:22
  host of a show called the Business Booster Show.
• 18:24
  That's my radio show by the way. One caller in Abuja was
• 18:28
  interested in acquiring machines for her fashion business through
• 18:31
  easy pay or through hire purchase arrangements.
• 18:35
  What options are available for such in Abuja and other parts of
• 18:38
  Nigeria? Question mark you see that
• 18:40
  simple paragraph, I hit send and then bam, Jeremy, I came back
• 18:44
  with some really, really interested interesting options.
• 18:49
  Now, since Favour is no longer interested in looking for easy
• 18:55
  pay or not, you know she's not going to go ahead and run
• 18:58
  through some of these things. But if you are in favor
• 19:00
  situation, you run a fashion business, you run any other kind
• 19:03
  of business, you run chicken re business and you want to buy
• 19:06
  incubator and everything or you whatever it is you want to buy a
• 19:11
  machine for your business and you don't have money.
• 19:13
  Listen to what Gemini said and you will see that some of these
• 19:16
  things make sense. Now for the one that makes sense
• 19:21
  and you think can easily do the challenge, you will now be OK.
• 19:24
  No problem. I ran the search on a Friday.
• 19:26
  Some nice ideas came up. Which idea can I start
• 19:29
  implementing on a Monday? That's all Monday start
• 19:34
  implementing. OK, so the first one, Gemini
• 19:39
  spoke about a government backed financing.
• 19:42
  It mentioned the BOI, that's Bank of Industry because the
• 19:46
  Bank of Industry gives cash for vendors to buy equipment
• 19:52
  directly and then you pay back in installments over three to
• 19:55
  five years. Then he also pointed out that
• 19:57
  Bank of Industries interest rates are usually around 9% per
• 20:01
  annum. And then it even gave the
• 20:03
  address for Bank of Industry. Now for someone who did not have
• 20:07
  any idea before, it was a blank slate.
• 20:10
  Your costs are day blank. You can't think of anything.
• 20:13
  You're holding pen and paper, you can't think of anything.
• 20:15
  Does it not look as if this idea makes sense?
• 20:17
  What will you lose if you wake up on Monday morning 8:00, you
• 20:22
  bath and dress up, bath and wear shoe and then you enter your car
• 20:26
  and then you drive straight down to back of industry And then you
• 20:28
  talk to somebody and say that I went on the Internet and the
• 20:31
  Internet say this, this, this is this thing true?
• 20:34
  What will it cost you? Nothing.
• 20:38
  These air tools are already on your phone.
• 20:40
  Please start using your brain and start using these tools.
• 20:43
  I'm not forcing people to be lazy as long as if I like these
• 20:46
  tools. It's just that when you're in a
• 20:47
  pinch, when you're can't come up with anything, anything, come up
• 20:52
  with some very, very useful ideas.
• 20:54
  Then Gemini also spoke about dedicated leasing equipment
• 20:58
  leasing companies. So there's some companies in
• 21:01
  Nigeria and that is all they do, leasing.
• 21:04
  You want to buy equipment, you want to lease equipment.
• 21:06
  That is all that they do. Then funny enough, there's a BOI
• 21:12
  leasing company of Nigeria, Bank of Industry.
• 21:14
  I had absolutely no idea. You should I say these tools are
• 21:17
  important because I know about Bank of Industry.
• 21:21
  I didn't know that they have a leasing company, BOILECON.
• 21:26
  Oh, that's Lecon BOI Lecon. Those of you who are, you're
• 21:29
  right, you understand joke. So yes, so it's a subsidiary.
• 21:34
  This is a what's, what's subsidiary.
• 21:36
  Now subsidiary is like I say Junior brother or Peking.
• 21:40
  So there's a company that is the main company and then there's
• 21:43
  another company that is a subsidiary.
• 21:45
  So subsidiary is like the Peking of the main company, just like
• 21:48
  Tonio Lumedu. Tonio Lumelu owns Ayers Holdings
• 21:53
  that is HIERS, that's that's the mummy company.
• 21:56
  Now the Peking is Transco Hilton and then here's insurance and
• 22:00
  you know all those other companies.
• 22:03
  So that's a subsidiary. Subsidiary just means Peking.
• 22:06
  Then Germany also spoke about Aquila Leasing.
• 22:13
  Aquila, MISS Leasing, you know other companies like that.
• 22:21
  Now back to what I said earlier. You are sitting down, you are a
• 22:26
  blank slit. You can't come up with ideas.
• 22:29
  You've seen somebody you think is an influencer or a guru.
• 22:32
  You message the guy, the guy, no message you back.
• 22:35
  You run a search, you come up with these options.
• 22:38
  What is stopping you from waking up Monday morning, 8:00 AM, bath
• 22:43
  and wear shoe, enter your car, drive down to these places.
• 22:47
  You verify the location or the place actually exists.
• 22:50
  You enter inside and you say, this is my situation, this is
• 22:53
  what I wanted to do, this is what I saw on the Internet.
• 22:56
  Is it true? Do you guys offer this service?
• 22:58
  What will it cost you? Nothing.
• 23:01
  Absolutely nothing. OK well the cost of your fuel
• 23:04
  that's all Then Gemini also spoke about retail platforms.
• 23:11
  Buying now pay later BMPLI remember when I was a kid we
• 23:16
  used to say hire purchase but now they say buy now pay later.
• 23:20
  So and this is the reason why I love these tools.
• 23:27
  Google Gemini was not even talking about specific sewing
• 23:30
  machine like Jack machine, ML machine and then 2 lions.
• 23:35
  I know 2 lions because that's one my, my aunt, my older
• 23:37
  auntie, Auntie our day when she was younger and she used to sew,
• 23:41
  that's what Auntie our day used to use two lions.
• 23:43
  Then you see he's mentioning specific brands now.
• 23:49
  Then Chaji was talking about how some digital platforms and some
• 23:53
  retailers allow you to even do split payment.
• 23:58
  So, you know, spoke about CD care.
• 24:01
  I've heard about CD care before because for one of my clients
• 24:03
  who is in the solar space, some of their sales teams were
• 24:06
  considering financing options or flexible paying options for
• 24:10
  their clients. And people brought up CD Care,
• 24:12
  but the conversations didn't go anywhere.
• 24:14
  But Shah CD care, what happens is you're allowed.
• 24:17
  By the way, I'm not affiliated with CD Care.
• 24:19
  They're not paying me any money. So please do not assume that
• 24:23
  because I mentioned them at on the podcast that they're correct
• 24:26
  business to correct institution to do business with.
• 24:29
  Please go and verify for yourself.
• 24:31
  Go and do all your search. Go and do all your research
• 24:34
  because you are responsible for the information that you act
• 24:36
  upon. Don't say I said something on
• 24:38
  the podcast, therefore it is true.
• 24:40
  Therefore I'm the one to blame once you enter busy, so go and
• 24:43
  do your own search. So CD Care allows people to do
• 24:50
  to how I put it, once you pay 50% of the price, they'll
• 24:53
  release the thing. So that's what Google Gemini
• 24:56
  said. So you want to buy 2 lions
• 24:58
  sewing machine? No problem.
• 25:00
  The 2 lions sewing machine, let's say right now the thing
• 25:03
  cost maybe like 650. The moment you raise 325K, the
• 25:09
  moment you pay 325K, bam, they'll release the machine for
• 25:12
  you. And then you have agreement
• 25:15
  about how you're going to pay the balance over time.
• 25:19
  So that's CDK and then there's also Pay Kobo, PAYKOBO.
• 25:24
  Then let's see what else. Then Google Germany also
• 25:29
  mentioned that since Favour is in Abuja, that Favour can look
• 25:32
  into the Abuja Enterprise Agency.
• 25:35
  To be honest, I had no idea that this one existed.
• 25:37
  So the Abuja Enterprise Agency has a microfinance scheme and
• 25:41
  partners with cooperative. Yeah, cooperatives.
• 25:47
  Now from all the things that I've said so far, can you not
• 25:49
  see that this thing makes sense? Can you not see that's how one
• 25:54
  bugger will look at me and say, be like, say you like AI.
• 25:57
  Like, what are you trying to imply?
• 25:59
  That I'm not smart? I'm a smart dude.
• 26:03
  Obviously listening to me. You can tell that I'm smart.
• 26:06
  It's just that once in a while your brain is blank and you need
• 26:11
  to be able to, you know, look somewhere just to to prime the
• 26:15
  engine, just to get one or two ideas you understand, because
• 26:18
  you can't be sitting down blank all day.
• 26:19
  All right, so these these tools are good now, even if I'm not a
• 26:28
  smart guy, even if I'm stupid, help yourself use these tools.
• 26:34
  I beg use these tools. And for those of you who reach
• 26:40
  out to me and I respond again, my number 08064662140.
• 26:46
  Now some people who are surprised like, ah, it's Usha.
• 26:49
  And I say yeah, it's me. What did you expect?
• 26:52
  So I get that a lot. Apparently other people who
• 26:56
  produce content, this kind of content, first of all, their
• 27:01
  contact details are not readily available.
• 27:03
  They don't like talking to people.
• 27:04
  There's a brand of mystique, you know, around them.
• 27:07
  And some people even want you to pay them before you have a
• 27:09
  conversation. This one, I experienced it live,
• 27:12
  live and direct. There's this guy, he's, he's in
• 27:14
  Lagos. I can't remember his name even
• 27:16
  if I remember that I even call his names off.
• 27:18
  So I had this idea. I thought we could make good
• 27:22
  money together. So I reached out to the guy.
• 27:27
  I got his PA. Eventually PA gave me his number
• 27:30
  and then so you know, I bought the guy now the guy the answer.
• 27:33
  So I said a WhatsApp message and then we started chatting and I
• 27:36
  told him that this was the idea. I think that we can make money
• 27:39
  together and this is how we can do it and everything.
• 27:41
  And as we're chatting, the guys like hold on, hold on, hold up
• 27:44
  right there. I said hold up how the guy said
• 27:46
  look before I even consider your proposal you suppose raise ME20K
• 27:51
  I said. I said what?
• 27:53
  The guy said yes that I will not even look at your proposal
• 27:55
  unless you pay me 20. Ki was confused so and I asked
• 28:00
  him again now sorry, hold on. I have a proposal for how both
• 28:04
  of us can do business together. And I want to send you the
• 28:10
  proposal to show how everything works.
• 28:14
  And you're saying that before you even look at this document,
• 28:16
  I should pay you 20 K. And then the guy said yes.
• 28:21
  I was like, OK, it's OK. You know what I get, I get
• 28:26
  you're being protective of your time and all, but no, I'm not
• 28:32
  going to pay you. I'm not going to pay you 20 K
• 28:35
  just for you to consider this thing.
• 28:37
  You know, funny enough, before I reach out to the guy, I was even
• 28:39
  thinking the danger would be that the guy will see it and be
• 28:41
  like, oh, this thing makes sense.
• 28:43
  And the guy will not try and run this thing without me while
• 28:46
  running with somebody else So they can, you know, make all the
• 28:49
  money. But yeah, so I've experienced
• 28:50
  that, yes, there's some people who will not even talk to you
• 28:56
  unless you raise them some cash first.
• 28:58
  And then my friend Laura as well, the one who's responsible
• 29:02
  for me starting the podcast, there was a time when she needed
• 29:06
  she reached out to. OK, I can't remember this lady's
• 29:09
  name, but even if I did, I wouldn't say it.
• 29:12
  The lady is is in the event space and she does business
• 29:16
  consulting in the event space. And so the lady happened to be
• 29:19
  in town. They met at an event and they
• 29:23
  were talking, talking, talking. And Laura was like, oh, sorry, I
• 29:26
  hope you don't mind. I have some questions.
• 29:27
  And this lady was like, Oh yeah, sure, no problem.
• 29:30
  I answer questions from people, but you have to pay ME15K.
• 29:33
  By the way, this was a long time ago.
• 29:34
  Long, long, long, long, long time ago.
• 29:35
  This is not now. I'm talking years ago, I'm
• 29:37
  talking 3-4 years back. So I mean now 1520 K that's not
• 29:43
  money. But back then 1520 K was not
• 29:44
  bad. In fact when Laura paid this
• 29:47
  lady 15K at that time I needed about 4700 and something to fill
• 29:54
  my tank. That's how much it cost to fill
• 29:56
  my tank. That's your tank is empty.
• 29:58
  To fill the whole Fioga was about four grand something.
• 30:01
  So I remember when Laura paid the lady the money, in my mind I
• 30:04
  was thinking, man, that is 3 tanks of, of, of fuel right
• 30:08
  here. That isn't that money would have
• 30:11
  you know, that's running around money in Abuja for like 3 weeks.
• 30:15
  So I was saying I can't remember how I got here.
• 30:22
  Any bottom line? What I was trying to say is,
• 30:25
  yeah, you're trying to reach out to somebody who you think is an
• 30:27
  online guru or something like that to ask the person the
• 30:30
  question. The person is not answering you,
• 30:33
  but now you have these free thing on your phone.
• 30:37
  So 510 years ago we didn't have these things.
• 30:41
  If you couldn't Google it, your next bet actually was to reach
• 30:44
  out to some of these peoples and you know, pay them whatever
• 30:47
  their consultation is. But now we have these three AI
• 30:50
  tools. Use these tools.
• 30:53
  The next person that tells me is as if you like AI or knock you
• 30:55
  on the head. It's not as if I like it.
• 30:57
  It's a tool. It's just there so use it.
• 31:03
  AI is good for searching and information like this because AI
• 31:06
  is just an index of information over on the Internet.
• 31:09
  So the thing already exists on the Internet.
• 31:11
  AI tools are a very good way to find it.
• 31:15
  But please, like I said, verify your sources, check to be sure
• 31:20
  that the results actually exist, then personally investigate to
• 31:24
  be sure that it is safe, especially before you go to a
• 31:27
  location or before you drop money or before you drop this or
• 31:30
  before you drop that. Go and do some research, OK?
• 31:32
  This place is real OK. Look around on the Internet.
• 31:35
  Is there any bad news about this place?
• 31:37
  Any bad jist about this kind of thing?
• 31:39
  You know, go and verify your sources before you move.
• 31:45
  Then whenever you're coming up with ideas is a very common
• 31:48
  sense something I'm tired of people saying.
• 31:50
  AI tools are not perfect my friend, stop being unreasonable.
• 31:54
  There's nothing that is perfect. If you ask me and I give you 10
• 31:57
  ideas and seven of them are stupid.
• 31:59
  What you do is you cross out the seven ideas and you apply the
• 32:02
  three. That makes sense.
• 32:03
  RB Isn't that what we do? Good.
• 32:07
  That's the same thing we'll do with the AI tools.
• 32:09
  You do this prompt, like in Favo's case, it came up with
• 32:13
  four ideas. If out of the four you think
• 32:16
  that three are absolutely stupid, cross out the three.
• 32:21
  If only one makes sense, Good. Monday morning, 8:00, start
• 32:25
  applying nothing. That's all.
• 32:28
  So yeah, I think that's all for today.
• 32:34
  The next episode we have, yeah, I'll go back to hardcore sales.
• 32:38
  I just thought these were really interesting questions from
• 32:41
  Favour now and then the previous episode from If I.
• 32:45
  So I just thought was, you know, cool stuff that I should come
• 32:47
  over here and discuss. So if you have general questions
• 32:51
  and you want to shoot the ship with someone, not a problem, you
• 32:54
  can call send me a text message or WhatsApp message on
• 32:56
  08064662140. So thanks for your time and
• 33:03
  attention. I'll catch you all at the next
• 33:05
  episode.